Troubled Galaxy Destroyed Dreams, Chapter 279
Palash Biswas
Reforms is a continuous process: Pranab
Economic Times - 15 hours ago
Indian economy has grown. In those days, we could think of 3.5% growth from a long period of 1951-79. Our ambition was just 5%. ...
Budget will give required boost to Indian economy: Chidambaram India Infoline.com
India's 'left of centre' budget BBC News
Hindu - Calcutta Telegraph
IMAO makes another urban legend … and this time gets credit for it
IMAO - 13 hours ago
But IMAO made the Urban Legend list. Again. Harvey writes good stuff. But you knew that. This one got passed around, which happens with lots of his fakey ...
Stop the spread of email hoaxes and urban legends in the workplace
Examiner.com - Jul 4, 2009
Here are just a few: Snopes: Snopes is probably the most popular site to check urban legends. If you got an email that you think might be false info a quick ...
Women's viewpoint
Malaysia Star - - Jul 5, 2009
For Tok, the most memorable episode was the one on ghost stories and urban legends. “I enjoy listening to people recounting their personal encounters with ...
Ask Dr. Delay: Gas scam e-mails are mostly urban legends
Tampabay.com - - Jun 27, 2009
A little research tells us that the story — although it has some elements of fact — is mostly an urban legend perpetuated by well-meaning folks who can't ...
[URBAN LEGENDS] The Third of the Philosophical Perspectives on ...
Today's Zaman - Jul 2, 2009
If only philosophers were kings, that was Plato's idea of the happiest state where ultimate welfare was to flourish. He wrote, “Philosophers [must] become ...
Baseball books on Cooperstown, Roger Clemens
San Francisco Chronicle - - Jul 4, 2009
I didn't say there are no anecdotes, urban legends, theories, suppositions, or accusations. I'm talking about actual empirical data. ...
Urban Legends take to the Riverside
South Wales Argus - Jun 19, 2009
NEWPORT hip hop group Urban Legends are playing a free gig at the city's Riverside Tavern with reggae band Monsterhand tomorrow night from 8pm. ...
Urban legend gives good spiders bad reputation
Edmond Sun - - Jun 11, 2009
Despite the fact that we live in modern times, urban legends still abound. Have you heard this one yet? “Daddy longlegs are one of the most poisonous ...
The urban legends of new business pitching
Bizcommunity.com - - Jun 14, 2009
“Tell 'em what you're going to tell 'em. Tell 'em, then tell 'em what you told 'em,” is one of the pieces of trite advice that's bandied about as if it's ...
Stay up to date on these results:
Email this storyIMAO makes another urban legend … and this time gets credit for itIMAO - 13 hours ago But IMAO made the Urban Legend list. Again. Harvey writes good stuff. But you knew that. This one got passed around, which happens with lots of his fakey ... Stop the spread of email hoaxes and urban legends in the workplaceExaminer.com - Jul 4, 2009 Here are just a few: Snopes: Snopes is probably the most popular site to check urban legends. If you got an email that you think might be false info a quick ... Women's viewpointMalaysia Star - - Jul 5, 2009 For Tok, the most memorable episode was the one on ghost stories and urban legends. “I enjoy listening to people recounting their personal encounters with ... Ask Dr. Delay: Gas scam e-mails are mostly urban legendsTampabay.com - - Jun 27, 2009 A little research tells us that the story — although it has some elements of fact — is mostly an urban legend perpetuated by well-meaning folks who can't ... [URBAN LEGENDS] The Third of the Philosophical Perspectives on ...Today's Zaman - Jul 2, 2009 If only philosophers were kings, that was Plato's idea of the happiest state where ultimate welfare was to flourish. He wrote, “Philosophers [must] become ... Baseball books on Cooperstown, Roger ClemensSan Francisco Chronicle - - Jul 4, 2009 I didn't say there are no anecdotes, urban legends, theories, suppositions, or accusations. I'm talking about actual empirical data. ... Urban Legends take to the RiversideSouth Wales Argus - Jun 19, 2009 NEWPORT hip hop group Urban Legends are playing a free gig at the city's Riverside Tavern with reggae band Monsterhand tomorrow night from 8pm. ... Urban legend gives good spiders bad reputationEdmond Sun - - Jun 11, 2009 Despite the fact that we live in modern times, urban legends still abound. Have you heard this one yet? “Daddy longlegs are one of the most poisonous ... The urban legends of new business pitchingBizcommunity.com - - Jun 14, 2009 “Tell 'em what you're going to tell 'em. Tell 'em, then tell 'em what you told 'em,” is one of the pieces of trite advice that's bandied about as if it's ... Stay up to date on these results: |
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2 Jul 2009 ... THE starting place for exploring urban legends and folklore on the Web: Internet hoaxes, rumors, urban legends, and urban myths debunked.
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The Black Commentator - Dr. King's Freedom-fighting and ...
8 Feb 2007 ... Dr. King's freedom-fighting and philosophical African Ancestors include educator Mary McCloud Bethune and pan-Africanist Amy Jacque Garvey. ...
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25 Nov 2008 ... Years ago, I had read a four-line verse composed by a Black student ... Those tears symbolised joy, if not surprise, of the African-Americans over the triumph of human ... in the attack on human dignity, values, equality and brotherhood. ... The untouchables are poor, their most basic needs are not ...
www.mainstreamweekly.net/article1053.html - Cached - Similar -LOOKING AT INDIA THROUGH AFRICAN EYES
8 Aug 2002 ... The Black people of India themselves (the original inhabitants ... Everywhere we went we reestablished bonds of brotherhood, ... We visited some of the most downtrodden communities on earth, witnessed the miseries of the Black Untouchables of India and ... HISTORY NOTES: PAN-AFRICANISM IN SOUTH ASIA ...
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... diss me outta east an' mi buch yuh over Boston, head a bust like a gas-pan. .... Although quite fast-paced, BLACK OUT may actually work in New Mexico's .... 'one-riddim album' but I think that African Bump would serve quite well, .... it is the more obscure artists as The Untouchables (not the US-ska band), ...
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Among the Bathonga, a tribe in South Africa, it is believed that those who .... It was led by the Archaic priesthood called the Arval brotherhood. ..... Pan. (3) In the Dhanbad sub-division of the Manbhum district and the Central ..... (they shall eat) their food from broken dishes, black iron (shall be) their ...
www.ambedkar.org/.../39A.Untouchables%20who%20were%20they_why%20they%20became%20PART%20I.htm - Cached - Similar -Retrospective on Soul on Ice By Sharif
... America's former slaves and presently then its underclass and untouchable caste. ... Here Cleaver revealed how he came to know himself as a "black man." .... the side of a theoretical "American Brotherhood" against Black Muslim hatred. ... Baldwin attended this Pan-African Congress and rightfully criticized the ...
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Oliver R. Tambo's Speech at the Second Pan-African Youth Seminar, .... “Half-Ally, Half-Untouchable at the Same Time:” Britain and South Africa Since 1959 .... called The Society for the Recognition of the Universal Brotherhood of Man, .... President Thabo Mbeki's predominantly black African National Congress, ...
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The race which was invaded was then made untouchable and kept right at the bottom. ... would see that the first sense of freedom, liberation and brotherhood entered India with the coming of the arabs. ... and then in the next moment African and box debates. ... I have seen more white thugs than black / asian in UK. ...
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This site may harm your computer.
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Michael Jackson's memorial service: An event to rememberOneindia - 10 hours ago Perhaps the largest media event the world has ever witnessed, the memorial service of Michael Jackson was spectacular, emotional and unbelievable. ... Michael Jackson's burial still a mystery Economic Times Jackson to be honoured as official American legendNDTV.com - 5 hours ago PTI The 'King of Pop' Michael Jackson may soon be given the title of "American Legend" officially. The resolution, giving the ultimate tribute to the pop ... Resolution honoring Jackson faces GOP opposition The Associated Press Pol defends Jackson at memorial Newsday Michael Jackson commemorative event planned for LondonTelegraph.co.uk - - 7 hours ago A second commemorative event for Michael Jackson could be staged in London to mark what would have been the singer's 51st birthday. ... Tribute concert at The O2 planned for Michael Jackson's August ... the london paper Michael Jackson was to perform duet with son at O2 Times of India Michael Jackson memorial 2 for London LondonNet Jackson ex-wife Debbie not to attend memorial serviceTimes of India - Jul 6, 2009 7 Jul 2009, 1008 hrs IST, PTI CHICAGO: Michael Jackson's ex-wife Debbie Rowe has decided not to attend the pop icon's memorial service in Los Angeles, ... Video: Raw Video: Rowe a No-show at Jackson Memorial  The Associated Press Michael Jackson's Dermatologist Denies Being Kids' Biological FatherMTV.com - - 1 hour ago Almost two weeks after the passing of Michael Jackson, many of the questions about his life and death remain unanswered. ... Plans for Michael Jackson burial remain elusive guardian.co.uk Jackson's doctor denies giving dangerous drugs The Associated Press Dermatologist Denies Giving Jackson Powerful Sedative Chicago Tribune Shaheen's Michael Jackson tributeBBC News - Jul 7, 2009 Britain's Got Talent finalist Shaheen Jafargholi paid his own tribute to Michael Jackson at the singer's memorial service in Los Angeles. ... Jackson wanted to marry me: Brooke ShieldsFinancial Express - 7 hours ago Los Angeles: Actress Brooke Shield, who described her relationship with Michael Jackson as "the most natural and easiest of friendships", has revealed that ... Video: Raw Video: Jermaine Jackson Musical Tribute The Associated Press Michael Jackson memorial: Which performance moved you most? Entertainment Weekly The Queerness of Michael JacksonHuffington Post - 1 hour ago At Michael Jackson's memorial service the Rev. Al Sharpton gave a rousing speech that had the congregation at the Staple Center rise to their feet at times ... Michael Jackson's was biggest funeral in recent times Khabrein.info Al Sharpton demands Jacko stamp honour Times of India Michael Jackson's executors say his wishes will be carried outTelegraph.co.uk - - Jul 7, 2009 The two executors of Michael Jackson's will, John Branca and John mcclain have said they are determined to carry out the singer's wishes. ... Video: Jackson's Mother Loses Control of Son's Estate The Associated Press Jackson's mother loses control of estate Hindustan Times Now Jacko's second will emerges Times of India Shanghai to build a theme park modelled on Michael Jackson's ...The Canadian Press - 4 hours ago BEIJING — China is reportedly planning to build its own version of Michael Jackson's Neverland Ranch on an island near Shanghai. The Shanghai Morning Post ... Neverland - More Michael Jackson? San Francisco Chronicle Ghost of Michael Jackson? AsiaOne |
The HisTory of Michael Jackson's face
Hard to believe - this was Michael Jackson. He was born August 28, 1958 - one of 9 kids. His father reportedly nicknamed him "Big Nose". ...
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Near Tents and Ruins, G-8 Summit Opens
China asks Pakistan, other countries to unearth links with Urumqi ...
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- Michael Jackson has officially become the most popular person on Facebook, with more than 7 million fans on the social networking site.CNN - 08 Jul 12:57AM
Moon’s crater named after 'Moonwalker'
In an out-of-the-world tribute to the ‘King of Pop´ the Lunar Republic Society named the moon crater after Jackson’s name, Contactmusic reported.
The crater, previously named Posidonius J, is located in the Moon’s Lake of Dreams and is close to a 1,200-acre parcel, which was purchased by the pop star.
Jackson, died last month at the age of 50 after a suspected cardiac arrest.
His fans and family members bid their final farewell to the pop legend in a star-studded public memorial on Tuesday.
Prime Minister Manmohan Singh will hold a bilateral meeting with his British counterpart Gordon Brown and is also expected to meet US President at G8-G5 summit
Amartya, Nooyi, Mittal in PM's panel to tap NRI talent
New Delhi: Economist Amartya Sen, business tycoon L. N. Mittal and Pepsico CEO Indra Nooyi are among the members of a high-level panel headed by Prime Minister Manmohan Singh constituted to advise the Government to draw upon experience of the best Indian minds abroad for a two-way engagement.
Minister of Overseas Indian Affairs Vyalar Ravi informed the Lok Sabha that the Global Advisory Council will develop an "inclusive agenda" for engagement between the country and the best Indian brains living abroad.
Other panelists of the 23-member council includes External Affairs Minister S. M. Krishna, City group CEO Vikram Pandit, NRI entrepreneur Karan Bilimoria, economist Jagdish Bhagwati, educationists Sam Pitroda.
The Minister said the council will also consider ways and means for accessing the skills and knowledge of Indian diaspora for meeting the country's development goals and facilitating investments by overseas Indians into the country.
"The Council will serve as a platform for the Prime Minister to draw upon the experience, knowledge and wisdom of the best Indian minds wherever they may be based," Ravi, who is also member of the council said.
Source: PTI
Sobbing Muslim women scuffled with riot police, and Chinese men wielding steel pipes and meat cleavers rampaged through the streets as ethnic tensions worsened in China's oil-rich Xinjiang territory, prompting President Jintao to cut short a G8 summit trip Wednesday.
Sensex down 360pts; Tata Steel slips 5%
Mumbai: After managing a slight pull back on Tuesday, the Sensex today opened 130 points lower at 14,040.The Sensex has started slipping and is now at 13,809, down 360 points.
Sterlite and Tata Steel have slipped 5% each to Rs 565 and Rs 379, respectively.
Jaiprakash Associates has declined 4% to Rs 198. Hindalco and Larsen & Toubro have shed around 3.5% each to Rs 75 and Rs 1,451, respectively.
HDFC, DLF and ACC have dropped 3% each to Rs 2,290, Rs 299 and Rs 740, respectively.
Sun Pharma and Hindustan Unilever are the marginal gainers.
Source: Business Standard
The benchmark index Sensex will continue on its growth path and may even scale 18,000 level by 2010, feel experts
No proposal to talk directly with Naxals: Govt
New Delhi: The Centre on Wednesday said there was no proposal to hold direct talks with Naxals but it would welcome such a dialogue between the Left wing extremists and any state government.
"There is no proposal for the Central Government to hold talks directly with the Left wing extremists," India's Minister of State for Home Affairs Ajay Maken told Rajya Sabha (Upper House of Indian Parliament) on Wednesday.
"State Governments have, from time to time, appealed to the Left wing extremists to abjure violence and hold talks with the government on any issues that are of concern to them...," he said.
The Minister said the Central Government does not have any information whether any state government is now engaged in any talks with the Left wing extremists.
Market may be downcast, Budget 2009 still bring smiles
Soon after Finance Minister Pranab Mukherjee presented the Union Budget 2009, the first negative sign came from the market and Sensex went southward.However, there is silver line for other sectors and already they are showing the Budget 2009 impact.
Cars and TVs reduce prices: In the Budget 2009 presented on Monday Pranab had announced the cuts in excise and custom duties. Already automobile companies like Mitsubishi, Ford, Toyota et al have announced the full benefit to customers.
The Budget 2009 had directed a cut of Rs 5,000 in excise duty on all passenger vehicles with engines over 2000cc that means SUVs get major benefit as 70% of sales in passenger vehicles comes from the small car segment. Mitsubishi’s Outlander, Pajero and Montero, have cut Rs 6000 while Ford’s Endeavour, Toyota’s Camry and Innova, General Motors’ Tavera and vehicles from Mahindra & Mahindra too followed suit.
Consumer companies like Samsung Electronics and LG who are major players in LCD TVs too have said they would pass on the benefit to the customer. Samsung Electronics announced a cut Rs 1,200 on 32 inch monitors, Rs 2000 on 40-inch monitors and Rs 3500 on 46-inch, according to reliable sources. However Samsung spokesman promised further cut from August. So did LG who have less than 30% market share on LCDs. And both auto makers as well as consumer companies are confident to make the best of time till September.
I was lucky enough to stay at home and indoors last night thanks to weekly OFF Day. Thus, I could witness LIVE the Great MJ Magic Inter CONNECTING the PAN AFRICAN Negroid Black Untouchable Brotherhood worldwide CELEBRATING Life and Legacy of Black Music, Folk and Folk Lore, Indigenous Aboriginal Life Lifestyle Livelihood, the Beats of drums and rhythm of Folk not exactly the PUFF of Summer winds, RATHER something like the passion of the little daughter who only said, DADDY, I Love You!
The accolade that would have meant more than anything to Michael Jackson, the moment everyone will best remember, came at the end when his 11-year-old daughter, Paris, spoke the first public words of her life before the whole world!
Living amidst the AMERICANISED Urban Legends, it is a REFRESHING Experience which made me realise how we do belong to a COMMON Platform and NEVER Realise it! It is the AMERICA we NEVER do feel and we SEEK another America ruled by Zionist White ILLUMINATI and try our best to Replicate it!
I was in the train as an old friend PUSHPRAJ called me on my Cell Phone Number 919903717833. He belongs to MEDHA MAHASHWETA caravan. He is a grown up KID from a Bihari Typical BHUMIHAR Zamindar Family in BEGUSARI! He accompanies Medha nationwide and writes articles in National Print Media.
We knew SANGWAI for the job until he expired.
Pushparaj and VIVEK UMRAO from kanpur IIT who married as FOREIGNER teamed with SANDEEP Pandey and ASHA led by ARUNDHUTI DHRUVE. I had a good tuning with both the guys until Pushpraj did involve himself in some unexpected affairs other than MASS Movement. Umrao also ditched an OLD Girl Friend meanwhile.
I had been DISILLUSIONED with both these BRILLIANT Youngmen.
Last time , I rebuked hard Pushpraj and SAVITA thrashed him on Phone. he disappeared from our life!
Today, Rajiv Katiyar rang me up and informed that an old friend was waiting on the line!
I was disscussing the Budget and the Presidential Address, RBI Role, PSUS in Disinvestment list, Illuminati, Right to Food Security Bill and Right to educatin Bill, kapil SIBAL, Maoists in Lalgarh, Nationalities in Countrwide, Privatisation of Education.
I am writing a DIARY these days and at the same time, I have to be engaged to attend the Phone calls aside my regular studies! I had been talking with friends countrywide how the Mass Destruction Agenda was being acomplished.
In fact, Major Barves who had a meeting last night in Mumbai under Heavy Rain, called me this evening and we discussed the latest Economic Updates and GOVERNANCE! We also discussed Pan African Negroid legacies, Martin Luther King and Barrack Obama as well as DANDAKARANYA and Lalgarh!
Pushpraj informed me that MEDHA has moved a Petition in the Highcourt then he tried to describe the ATROITIES condemning the involved Police Officer!
I lost my control over me, sorry and said,` If I meet the officer, I would say thanks to him . he sould have added two more Lthies for me!'
`Where had you been all these days?'
Pushpraj tried to defend, ` Medhaji shared the dias with CHHATRADHAR since the beginning of the Movement'.
`So what? Mamata did the same thing! Now she sent Central forces to Persecute our people! You are just DIVERTING the Basic issues and the Issues have been limited in Medha and Aparna sen because they happen to be the CELEBRATES and media focuses on them!'
The area is CAPTURED by CPIM Gestapo branding the Aboriginal Population of TWO Millions Maoists.Whereas the Maoists are Missing.
Operation has no target until the MONSOON is over.
SECURITY Forces have the only target for Practice, the UNARMED Starving People!
You may not bail out them!
As no body is allowed to break the Sieze!
But you divert the focus as you have been doing in Narmada Valey, Navi Mumbai, kaling Nagar, Polavaram, singur and nandigram to justify the GENOCIDE and ETHNIC cleansing!'
He suggested that I should talk to Medha!
Why?
Why Medha Choses LALGARH on BOIL only? Why does she avoid DANDAKARANYA, Jharkhand or ORISSA?
Resistance Movement may be mobilised from anywhere , anytime. It may begin from JHARGRAM, Kharag pur, Midnapur, Ranchi, Kolkata or Bhuvneshwar if somebody is interested to sustain the RESISTANCE. No Judicial Petition has to do anything with the Resistance!
I just Blasted and PUSHPRAJ did try to defend in Vien!
Friends, thus we live in URBAN Legend and hate those NEGROID Untouchable people who are HABITUAL to Celebrate Life and Legacy!
I respect MEDHA and Mahashweta DI from the INNERMOST of my heart and never do doubt theior Commitment and Integrity! BUT their ways of so called MASS Movement is FULLY and PURELY Brahaminical only which woud rather STRENGTHEN the REPRESSION Machine, I am afarid to opine not caring for personal relations of decades old!
In Moscow, As the world grappled to cope up with the "worst global recession in a generation," President Barack Obama today said that prosperity in countries like India and China is good for the US and West as it opens new markets for them and pushes their businesses to innovate.
"We meet in the midst of the worst global recession in a generation. I believe that the market is the greatest force for creating and distributing wealth that the world has known," Obama said addressing the 'New Economic School' here.
However, he said that wherever the market is allowed to run rampant -- through excessive risk-taking, a lack of regulation or corruption -- "then all are endangered, whether we live on the Mississippi or the Volga."
"And while this crisis has shown us the risk that comes with change, that risk is overwhelmed by opportunity.
Meanwhile,Pope Benedict XVI called for a new world financial order guided by ethics and the search for the common good, denouncing the profit-at-all-cost mentality blamed for bringing about the global financial meltdown.
In the third encyclical of his pontificate, Benedict pressed for reform of the United Nations and international economic and financial institutions to give poorer countries more of a say in international policy.
"There is urgent need (for) a true world political authority" that can manage the global economy, guarantee the environment is protected, ensure world peace and bring about food security for the poor, he wrote.
The document "Charity in Truth," was in the works for two years, and its publication was repeatedly delayed to incorporate the fallout from the crisis. It was released a day before leaders of the Group of Eight industrialized nations meet to coordinate efforts to deal with the global meltdown, signaling a clear Vatican bid to prod leaders for a financially responsible future and what it considers a more socially just society.
"The economy needs ethics in order to function correctly — not any ethics, but an ethics which is people centered," Benedict wrote.
The German-born Benedict, 82, has spoken out frequently about the impact of the crisis on the poor, particularly in Africa, which he visited earlier this year. But the 144-page encyclical, one of the most authoritative documents a pope can issue, marked a new level of church teaching by linking the Vatican's long-standing social doctrine on caring for the poor with current events.
While acknowledging that the globalized economy has "lifted billions of people out of misery," Benedict accused the unbridled growth of recent years of causing unprecedented problems as well, citing mass migration flows, environmental degradation and a complete loss of trust in the world market.
He urged wealthier countries to increase development aid to poor countries to help eliminate world hunger, saying peace and security depended on it. He specified that aid should go to agricultural development to improve infrastructure, irrigation systems, transport and sharing of agricultural technology.
At the same time, he demanded that industrialized nations reduce their energy consumption, both to better care for the environment and to let the poorer have access to energy resources.
"One of the greatest challenges facing the economy is to achieve the most efficient use — not abuse — of natural resources, based on a realization that the notion of 'efficiency' is not value-free," he wrote.
Benedict said that the drive to outsource work to the cheapest bidder had endangered the rights of workers, and he demanded that workers be allowed to organize in unions to protect their rights and guarantee steady, decent employment.
Benedict called for a whole new financial order — "a profoundly new way of understanding business enterprise" — that respects the dignity of workers and looks out for the common good by prioritizing ethics and social responsibility over dividend returns.
The Rev. Drew Christiansen, editor of the Jesuit monthly America and a leading social ethicist, said he was most intrigued by the pope's call for a new sector of society to work alongside government, market and civil society: for-profit entities that work for the common good, which Christiansen suggested could include "fair trade" product makers and micro-finance institutions.
"I am not sure these enterprises yet constitute a sector of economic life," Christiansen wrote on his blog. "But they are harbingers of a different, conscientious kind of economics that would not repeat the mistakes of the last 30 years."
Kirk Hanson, a business ethics professor at Santa Clara University, said that while the encyclical went into some detail about the rights of workers and the duties of the state in protecting those rights, there was precious little about how an actual CEO leader should go about business.
"It's almost as if the church has so little trust in business leaders that it speaks to the political leaders urging regulation and the consumers urging voting with their buying power," said Hanson, who chaired hearings leading up to a similar U.S. Catholic bishops' statement on capitalism and social justice in the 1980s.
Benedict has written two previous encyclicals in his four years as pope: "God is Love" in 2006 and "Saved by Hope" in 2007.
The pope's focus on world finance raised questions about the state of the Vatican's own books.
The Vatican was implicated in the 1980s collapse of Banco Ambrosiano, in which the Vatican's bank was the major shareholder, and it agreed to pay $250 million to Ambrosiano's creditors, while denying any wrongdoing.
At the start of the meltdown in October, a top Vatican bank official assured that its deposits were safe and had no liquidity problems, saying the bank had stayed away from derivatives, the financial instruments blamed in part for the crisis.
Other officials have said 80 percent of the Vatican's investments are in low-yield government bonds and 20 percent in stocks and that the Vatican does not invest in companies that produce arms or contraceptives.
The Vatican in its annual financial statement issued Saturday said it ran a deficit in 2008 for the second straight year, posting a euro900,000 ($1.28 million) loss, compared with a loss of euro9.06 million a year earlier.
Industry hails changes in tax structure
Kolkata: Although the government failed to lay down a concrete roadmap on ways to reduce the huge fiscal deficit in the Union Budget 2009-10, the changes made in the tax structure, both direct and indirect taxes, were a welcome measure and could have a positive impact on the economy, felt industry experts.Speaking on the sidelines of a budget analysis session organised by Confederation of Indian Industry, Rohan K Phatarphekar, executive director and national head, global transfer pricing services KPMG India Private Limited said, “The Budget was not bad, there was too much of expectations from the market. What the Budget lacked was clarity, the government failed to lay down a concrete roadmap to bridge the fiscal deficit." But significant changes were announced in the tax structure like removal of FBT, removal of 10 per cent surcharge on the higher bracket of income tax, commitment to introducing GST.”
Of all the amendments, transfer pricing which sometimes becomes a huge burden to companies will definitely have a positive impact, he added.
No roll back of tax cuts: Pranab Mukherjee
New Delhi: The government on Tuesday assured industry that it will not roll back the tax cuts announced in the stimulus packages and its high market borrowings of about Rs 4 lakh crore will not dry up resources for the private sector."I have no intention of rolling back (tax cuts given in stimulus packages)... No doubt I have taken a risk. A risk of leaving fiscal deficit of 6.8 per cent, which is perhaps the highest ," finance minister Pranab Mukherjee said in his interaction with industry chambers, the Confederation of Indian Industry, Federation of Indian Chambers of Commerce and Industry and the Associated Chambers of Commerce and Industry of India.
The finance minister also said he would strive to bring down high fiscal deficit of 6.8 per cent of the GDP projected for the current fiscal to 5.5 per cent in the next fiscal and four per cent in 2011-12.
"Therefore, I myself and my colleagues in the finance ministry have undertaken a strenuous job that in the next 7-8 months, we shall have to do a lot of work so that we can reach this target in 2010-11 and 2011-12," Mukherjee said.
High fiscal deficit will force the government to borrow around Rs 4 lakh crore from the markets this fiscal, which many fear would crowd out private sector investment, an apprehension that led to a crash in stock markets on Monday.
It is this fear that Mukherjee allayed on Tuesday.
"I do agree that (there is apprehension that) whether the private sector will be elbowed out by the substantial borrowings by the government. Surely we will have to make our planning in such a way that this aspect is taken note of. I can assure you, the intetion is not to crowd out the private sector from the market," Mukherjee said.
He said genuine requirement of the private sector has to be taken note of and that is one of the important challenges that the government has to face.
The government has cut excise duty by six per cent and service tax by two per cent in three stimulus packages, which together with increased public expenditure has widened the fiscal deficit.
Besides, it also abolished fringe benefit tax, an irritant for corporates, and withdrawn the proposed Commodity Transaction Tax in the Budget on Monday.
Fiscal deficit touched 6.2 per cent last fiscal and is projected to widen further to 6.8 per cent in the current fiscal as tax receipts are estimated to decline and public expenditure projected to rise above Rs 10 lakh crore for the first time in the history of independent India.
"No doubt, I have taken a risk, and there is a fiscal deficit of 6.8 per cent, which is perhaps the highest...While tax receipts were on downward curve, public expenditure have to be boosted to create demand and fund infrastructure, especially in the rural areas," he said.
The finance minister said the Government did not have any other option but to depend heavily on the borrowed resources.
He said the budget was prepared amid indications that the global meltdown would continue in the current fiscal.
Even though inflation has come down swiftly, rains have started in many parts of the country and many segments in manufacturing are showing improved results, Mukherjee said,"I cannot say we are out of the economic slowdown."
However, he asserted that the country must come back to the growth path as fast as possible.
On complaints by some that the Budget has not laid the roadmap for disinvestment, Mukherjee said the budget is not a document which can set forth micro details and minute aspects in this regard.
"I have very clearly made our intentions clear, which is to encourage people's participation in our disinvestment programmes while retaining at least 51 per cent equity in our enterprises," he said.
The finance minister also hoped that the proposed goods and service tax would be introduced as scheduled, though he did not rule out some states deciding to stay out from the new indirect tax regime in the beginning.
RBI unveils timetable to implement norms
Mumbai: After ensuring successful implementation of basic Basel II norms by banks, Reserve Bank of India (RBI) today unveiled a timeframe to adopt advanced approaches to manage credit, market and operational risks.Banks can make application to RBI to use Internal Models Approach (IMA) for market risk from April 1, 2010. The central bank is likely to approve such plans by March 2011.
Similarly, banks can approach with a proposal for Standardised Approach for operational risks from April 2010 and for using advanced approach to manage operational risks beginning of April 2012.
RBI advised banks to approach with proposal to use internal-rating based approach for credit risks from April 1, 2012. These applications would be cleared by March 31, 2014.
This schedule will help banks to plan and prepare for their migration to the advanced approaches for credit risk and operational risk, as also for the Internal Models Approach (IMA) for market risk, RBI said in a communication to banks.
By March 2009, all Indian commercial banks as well as foreign banks operating in India have already implemented the Standardised Approach for credit risk, Basic Indicator Approach for operational risk and the Standardised Duration Approach for market risk.
Meanwhile, bank financial assistance to companies for setting up captive special economic zones will not be treated as Commercial Real Estate (CRE), according to the RBI draft guidelines.
Banks should keep in mind the substance of the transaction rather than the form. It is possible that an SEZ may be developed by a single company entirely or mainly for its own use.
The repayment of loans in such cases will depend on the cash flows generated by the economic activities of the units in the SEZ and the general cash flow of the company rather than the level of real estate prices. Such should not then be classified as CRE, RBI said.
Similarly, there can be co-developers in an SEZ who undertake a specific job such as provision of sewerage, electrical lines etc. “If their repayment is not dependent on the cash flows generated by the CRE asset, such exposures would not be classified as CRE,” RBI added..
This illustratively would be the case where the co-developer is paid by the main developer based on progress in work.
Budget impact: Consumer durable firms reduce prices
New Delhi: Less than a day after Finance Minister Pranab Mukherjee announced cuts in excise and customs duties, some consumer durables firms agreed to pass on the full benefit to customers.The customs duty on LCD panels has been halved to 5 per cent from 10 per cent.
Samsung Electronics has decied to cut the prices of its large format display (LFD) monitors between Rs 1,200 and Rs 3,500. “The Samsung 32-inch LFD monitors will get cheaper by Rs 1,200, the 40-inch LFD monitor by Rs 2,000 and the 46-inch LFD will cost about Rs 3,500 less,” said a Samsung India spokesperson.
The company is also considering revising the prices of LCD TVs. A Samsung 32-inch LCD TV costs about Rs 38,000, with prices touching Rs 2.85 lakh for 52-inch models. The company spokesperson reasoned, “Since Samsung is running a promotion on its LCD TVs where an Airtel set-top box is bundled along with the panel, we will not be reducing the prices in the month of July.” Globally, LCD TV, monitor and notebook panel prices had increased significantly on tight supply, with suppliers aiming at profits for the third quarter of 2009, according to a report from DisplaySearch.
LG, which had around 23 per cent of the LCD TV market in India last year, had hiked its LCD panel prices on July 1. An LG India spokesperson said: “We had raised the LCD panel pricing by 5 per cent on July 1, due to a steady rise in global LCD panel supply. But with the Budget reducing the customs duty by half, we intend to scale back the earlier price hike.”
An unresolved panel shortage, primarily the result of insufficient supply of glass substrates, is forcing the world’s major panel makers to raise prices more aggressively, as they hoped to end several quarter losses in the July-to-September period.
Source: Business Standard
Jackson's kids emerge from behind the veil
For all the hasty preparations, hand-wringing over security, breathless media competition to scoop details and soul-wrenching performances, the essence of Michael Jackson's memorial service came down to 20 poignant, powerful seconds: the moment when 11-year-old Paris-Michael Jackson inched up to the microphone and, in a statement no one saw coming, referred to the late pop superstar as "Daddy."
It was a remarkably humanizing moment. Then again, it was remarkable just to see Jackson's three children in public to begin with.
A fiercely protective father, Jackson rarely brought his brood out into public, covering their faces in veils and party masks to protect their identity when he did.
Now here they were, unveiled, before an audience of thousands at Staples Center and millions more around the globe. Starting out seated in the front row, the three youngest Jacksons eventually joined the rest family onstage as the two-hour service wound to a close.
Dressed in the same dark suits and yellow ties as the rest of the Jackson men, 12-year-old Michael Joseph Jr., known as Prince Michael, chewed gum and toted the memorial service program; 7-year-old Prince Michael II, known as Blanket, held his program and clutched a Michael Jackson doll.
Paris, wearing a black dress with white trim, turned a small patent-leather purse over in her hands as other family members spoke. And then a dramatic hush fell over the crowd as family members whispered that the little girl, whose lifetime of public exposure amounted to a small handful of paparazzi photographs, Paris-Michael wanted to say something.
She furtively emerged from the tight circle of family members, who rushed to lower the microphone to her level. And with her uncle Randy on one side and aunt Janet on the other, Jackson's little girl stood center stage.
"I just wanted to say," Paris began weakly.
"Speak up, sweetheart, speak up," Janet encouraged, sweeping the girl's long hair back. "And get close."
Paris put one hand behind her neck, another on the microphone, and began again.
"Ever since I was born, Daddy has been the best father you could ever imagine," she said, her tiny voice cracking.
Rebbie and Marlon Jackson moved in closer to comfort their niece. She shut her eyes tight.
Then she wrapped her hands -- little fingernails painted red -- around the microphone and fought back tears as she continued: "And I just wanted to say I love him -- so much."
She collapsed in tears into her aunt's arms.
"It's OK, baby. It's OK," Janet Jackson said as she held Paris close. Prince joined in on the hug.
And all at once, Jackson wasn't the larger-than-life King of Pop, or Wacko Jacko the tabloid freak. He was a doting father who had left three adoring young children behind.
He was "Daddy."
Source: AP
Related Stories
This Is It: World bids farewell to the "King of Pop"
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The Michael Jackson News Centre
Snapshots: Celebrities @ Michael Jackson Memorial
http://entertainment.in.msn.com/hollywood/article.aspx?cp-documentid=3070739
It was one of the most-watched celebrity sendoffs in history, telecast across multiple channels and streamed across the Internet. But the predicted traffic and crowd-control nightmares did not materialize. Thousands of police officers helped keep the ticketless crowd to a minimum — about 1,000 people vs. the 250,000 feared — and the motorcade with Jackson's hearse encountered few problems traveling blocked-off freeways to downtown.
The goodbye to Jackson started early with a private service for family and close friends at Forest Lawn in the Hollywood Hills. (A crash was heard as drivers slowed to watch the procession leave the cemetery).
A star-crowded memorial program followed, at the downtown Staples Center, that was spiritual, smoothly entertaining and jubilantly roof-raising as Jackson was hailed as a superstar and humanitarian.
"The King of Pop has gone to meet the King of Kings," intoned the Rev. Lucious Smith, pastor of the Friendship Baptist Church in Pasadena.
It was a day filled with touching moments, perhaps the most poignant when Jackson's daughter, Paris, 11, took the microphone. "I just want to say ever since I was born, Daddy has been the best father you can ever imagine. And I just wanted to say I love him so much," she said, breaking into tears.
That followed two hours of farewell tributes from musicians, athletes and friends of Michael Joseph Jackson, who died suddenly June 25 at age 50.
The crowd of 20,000 was alternately reverent and boisterous. They watched in solemn silence as the likes of Stevie Wonder, Lionel Richie and Mariah Carey sang sweetly, and older brother Jermaine crooned Smile, the theme from Charlie Chaplin's classic film Modern Times. Usher sang Jackson's sadly prescient Gone Too Soon as he caressed the golden casket spotlighted in front of the stage and draped in flowers.
But when Kobe Bryant walked in, many jumped to their feet and started cheering and taking pictures; some reached over for high-fives. They cheered loud approval for the Rev. Al Sharpton's fiery eulogy and laughed at a story Magic Johnson told about fried chicken. And they snapped photos with phones and rained shout-outs of "I love you, Michael!" during lulls.
Singer Akon told USA TODAY that he worked with Jackson in the studio recently and that Jackson was hoping to release another album. Its concept would have been "a righteous movement to bring the people of the world together. It would have been songs with positive messages."
Akon said Jackson's mood was similarly upbeat. "Any time he was around music, he was happy. Music was his sanctuary." Jackson's children were in the studio, helping to lift his spirits.
Other celebrities in the crowd: Cicely Tyson; P. Diddy; Rick, Kathy and Nicky Hilton; Lil Kim; Chris Brown; and Tatum O'Neal.
Diana Ross and Nelson Mandela sent messages. Also absent: Jackson's longtime pal Elizabeth Taylor, who said in a Twitter post she couldn't bear to be part of the public hoopla, and Debbie Rowe, Jackson's ex-wife and mother of Jackson's two oldest children.
Outside the Staples Center, the mood was festive. Vendors hawked T-shirts, buttons, photos and other memorabilia.
"I just think he is an amazing artist and talent, so (this) is a one-of-a-kind experience," said Heidi Golledge, 39, who came with daughter Lauren, 12, from Ladera Ranch, Calif., wearing matching white fedoras.
Dozens of fans had congregated earlier in the day at the Encino family compound as well, some with T-shirts and signs that said "Michael 4ever" and "You are not alone." They gathered along Hayvenhurst Avenue to watch as the family left in a phalanx of Bentleys, Range Rovers and Escalades.
Meghan Romero, 47, of Bakersfield, Calif., said she drove with husband Albert to Encino when she didn't win tickets. "They were saying that you couldn't see anything downtown, so we took our chances here," she says. "I grew up on Michael. I have to say goodbye somehow."
As the memorial service ended, Jackson's three children and eight siblings — his brothers were all wearing one beaded white glove in his honor — gathered onstage to say thanks. "We will never understand what he endured ... being judged, ridiculed," said brother Marlon, choking up. "Maybe, now, Michael, they will leave you alone."
The Rev. Smith closed by noting: "All around us are people of different cultures, different religions, different nationalities. And yet the music of Michael Jackson brings us together."
After the memorial, the family went to the Beverly Wilshire Hotel for a private reception. It was unclear whether Jackson's casket would be returned to Forest Lawn for burial or taken to another final resting place.
Contributing: Arienne Thompson, Scott Bowles, Kelley L. Carter, Kelly Carter, Edna Gundersen, Bill Keveney, William M. Welch, Chris Woodyard and The Associated Press
- Family attends private service at Forest Lawn (USATODAY.com in LifeLine Live)
- Top Republicans puzzled by Palin's abrupt resignation (USATODAY.com in News)
- Public memorial will be a Jackson tribute 'with reverence' (USATODAY.com in Life)
- S.C. police at N.C. shooting near serial killings (USATODAY.com in News)
- http://www.usatoday.com/life/people/2009-07-07-jackson-memorial-news_N.htm?csp=34
The public mourning of Michael Jackson may be done, but the saga that was his personal life is far from over.AP via Yahoo! News - 08 Jul 04:08PM
In a memorial to Michael Jackson on Tuesday that featured superstars Mariah Carey and Stevie Wonder, the moment that may be best remembered came when his 11-year-old daughter Paris spoke a few heart-wrenching words.Reuters via Yahoo! News - 08 Jul 03:09PM
Mariah Carey, Stevie Wonder and Usher sang emotional farewells Tuesday to Michael Jackson, who was hailed as "the greatest entertainer that ever lived" and described by his tearful 11-year-old daughter Paris as "the best father you could ever imagine."Reuters via Yahoo! News - 08 Jul 11:57AM
On the day the world said goodbye to Michael Jackson, his star continued to shine on Billboard's charts, a testament to his lasting musical legacy and impact.Reuters via Yahoo! News - 08 Jul 01:41PM- After Tuesday's somber memorial for their father, Michael Jackson's three children seemed to be in better sprits at a reception immediately following the service. Prince Michael, 12, Paris Katherine, 11, and Prince Michael II (Blanket), 7, all sat in the "VIP" area at a kid's table that included all the Jackson cousins and relatives in The Grand Ballroom at the Regent Beverly Wilshire Hotel. ...US Weekly - 4 minutes ago
- In death as in life, Michael Jackson continues to light up the Internet.CNN - 08 Jul 09:26AM
- Michael Jackson's public memorial mixed mourning with celebration, laughter with tears. But in the way that it was universally reported on by all the major broadcast and cable news networks, from before its beginning until after its end, it also seemed a kind of apology for prior doubting or nasty press.Chicago Tribune - 30 minutes ago
- Michael Jackson's longtime dermatologist says he is not the biological father of Michael's kids, "to the best of my knowledge." He also denies prescribing the kind of powerful painkillers that may have killed the pop star.ABC News - 11 minutes ago
- They were there for Michael Jackson.CNN - 08 Jul 06:34AM
- Michael Jackson reportedly was very interested in being cloned.LiveScience.com via Yahoo! News - 08 Jul 06:55AM
- The world was watching, but did the Internet weather the crush of viewers during Michael Jackson's memorial tribute?USA Today - 08 Jul 07:16AM
Michael Jackson was once so safe that presidents from both parties welcomed him to the White House. In death, after a scandal-filled decline, he is the latest target in the cultural war.AP via Yahoo! News - 08 Jul 04:08AM
So today was Michael Jackson's memorial. Pretty big, historical, epic moment, obviously. And pretty big, historical, epic moments don't go unnoticed by Twitter (unless you're a Hills castmember).E! Online via Yahoo! News - 08 Jul 04:56AM- 12:33 pm: The Jackson family takes the stage and thanks Michael's fans for all their support and love.The Yahoo! Newsroom via Yahoo! News - 08 Jul 01:29AM
- Officials have released Michael Jackson's death certificate, but it doesn't yet list a cause of death.AP via Yahoo! News - 08 Jul 04:52AM
- Family, friends and fans bid farewell to an icon. In the end, they brought Michael Jackson to the one place where his life always made sense -- beneath a spotlight and in front of his adoring fans. The superstar, in a gleaming gold coffin, was celebrated in a Staples Center memorial service that was beamed around the world and, like the icon himself, strove mightily to be all things to all people.Los Angeles Times - 08 Jul 12:54PM
- Even if they couldn't be at the Staples Center, Michael Jackson fans across the country gathered to mark the pop sensation's memorial. They packed a diner in Houston, Texas, streamed into a Fort Pierce, Florida, movie theater and amassed beneath a JumboTron in Cincinnati, Ohio.CNN - 08 Jul 02:22AM
As befitting the King of Pop, Michael Jackson may forever be part of Hollywood's starriest constellation...eventually.E! Online via Yahoo! News - 08 Jul 02:16AM
The stage is set for Michael Jackson's final act in what could be the biggest celebrity send-off of all time.The Yahoo! Newsroom via Yahoo! News - 08 Jul 01:47AM- Farewell, Michael. Before an audience of millions, a galaxy of stars and Michael Jackson's loved ones paid tribute to the pop legend Tuesday at a memorial that ended in a torrent of tears from his young daughter.New York Daily News - 08 Jul 02:32PM
- It's poignant. It's wrenching. But most of all, it's so very Michael. In the days after his death, Michael Jackson's mother reportedly worried that if her son's funeral was too long delayed, his soul might wander the earth. In a more secular sense, that is exactly what has been happening. Remembering Jackson -- debating his legacy, listening to his music, trying to make sense of his life -- has ...Los Angeles Times - 08 Jul 09:51AM
- July 7, 2009 - (L-R) Singer Janet Jackson, Paris Jackson, Prince Michael II, La Toya Jackson, Jackie Jackson and Prince Michael stand on stage at the Michael Jackson public memorial service held at Staples Center in Los Angeles, California.St. Louis Post-Dispatch - 08 Jul 01:58PM
- The Jackson Children Mourn Michael's PassingABC News - 08 Jul 01:00PM
- In the second week after Michael Jackson's death, his album sales reached 800,000, nearly double the numbers from the week before, according to Nielsen SoundScan.MTV Music Television - 25 minutes ago
- Graffiti artists in L.A. and elsewhere are paying tribute to the King of Pop and his legacy with both colorful murals and simple messages. Michael Jackson stands in his signature pose: hips popped to the right, left arm raised in the air. His gloved right hand sits on his hip and out of his mouth he exclaims, "Hee-hee!" It's the King of Pop as immortalized in the parking lot of Mid-West ...Los Angeles Times - 08 Jul 10:07AM
- As Michael Jackson's classics take over the top of the charts, plans to release a slew of unreleased and remixed songs mean fans could be listening to new music by the King of Pop for years to comeTime.com via Yahoo! News - 07 Jul 09:40PM
A public memorial service for Michael Jackson began Tuesday with Smokey Robinson reading comments from Nelson Mandela, Diana Ross and other friends of the King of Pop.AP via Yahoo! News - 07 Jul 11:05PM
A Gospel choir singing "We're going to see the king" launched an emotional public memorial for Michael Jackson Tuesday as the music world and thousands of fans bade farewell to the singer known as the "King of Pop."Reuters via Yahoo! News - 08 Jul 12:14AM- In the end, they brought Michael Jackson to the one place where his life always made sense — beneath a spotlight and in front of his adoring fans.Denver Post - 08 Jul 01:26PM
- The singer's efforts to raise awareness on issues like AIDS and famine, as well as donating millions himself, spread throughout the entertainment industry. Michael Jackson left a philanthropic legacy almost as large as his cultural one.Los Angeles Times - 08 Jul 09:21AM
- Michael Jackson celebrated his final Christmas with his three children -- and with dermatologist Arnold Klein, the biological father of Paris, 11, and Prince Michael I, 12. Us Weekly reports in its new issue (on newsstands tomorrow) that Klein brought Star Wars icon Carrie Fisher, a close friend, as a surprise guest for the kids to Jackson's $100,000-a-month Holmby Hills, Calif. rental. Check ...US Weekly - 08 Jul 08:53AM
- Stevie Wonder, Mariah Carey, John Mayer and more join the Jackson family's final salute to the King of Pop Look back at the King of Pop's remarkable career in Rolling Stone's archives. Check out photos, cover stories, album reviews and more at our Michael Jackson hub. At 7:55 a.m., an usher at the glass doors outside...Rolling Stone - 08 Jul 08:57AM
- Bill Clinton paused during an aid mission to Haiti on Tuesday to honor Michael Jackson for helping the Democratic Party raise cash at a crucial time.AP via Yahoo! News - 08 Jul 12:26AM
Broadcasts of Michael Jackson hits and skyrocketing sales of the late pop icon's discs after his death have given a boost to Dutch pension fund ABP, which in 2008 bought the rights to several of his songs.AFP via Yahoo! News - 07 Jul 11:38PM- Michael Jackson's family and close friends held a private service at a Los Angeles cemetery on Tuesday as fans crowded into the city's downtown area for a star-packed public memorial to the "King of Pop."Reuters via Yahoo! News - 07 Jul 11:55PM
Markets in red; Sensex dips below 14,000 level
Mumbai: The Bombay Stock Exchange Benchmark Sensex dipped below the 14,000-point mark, losing almost 310 points, in opening trade on Wednesday on heavy selling by funds in heavy-weight stocks, triggered by weak global markets.The BSE-30 share benchmark Sensex, which had gained over 127 points on Monday, plunged by 309.93 points, or 2.18 per cent, to 13,860.52 in opening session, the level last seen on May 22.
All the sectoral indices led by realty, were trading in the negative zone.
The wide-based National Stock Exchange index Nifty declined by 94.60 points, or 2.25 per cent, to 4,107.55.
Stock brokers said sentiments were mainly dampened on weak trends on the global markets on concerns that the world economic recovery may not be near as anticipated.
Major losers were Reliance Industries fell by 1.81 per cent to Rs 1,821.75, Rcom by 2.64 per cent to Rs 257.75 and Reliance Infra 2.68 per cent to Rs 1,125.20. Besides, Infosys Technologies by 0.59 per cent to Rs 1,728.90, ICICI Bank by 2.78 per cent at Rs 675.65 and Tata Steel by 4.81 per cent to Rs 378.95.
The Dow Jones Industrial Average ended 1.94 per cent down on Tuesday, while Japan's Nikkei hit six-week lows hurt by unexpected slide in domestic machinery orders and Hong Kong's Hang Seng Index was down 1.18 per cent in the morning trade on Wednesday.
What are the tax implications post budget 09-10?
The only specific benefit for the salaried class in the budget is the scrapping of Fringe Benefit Tax. Companies may now be a bit more liberal with the perks offered to their executives. We can expect more on the ESOPS and Superannuation front as now they are free from the implications of the FBT.
A look at the tax implications on the various components of the Indian economy due to the Budget 09-10
There are taxes and there are taxes and then there are more taxes. Luckily unlike Mr. Chidambaram who had the knack of coming up with unorthodox (synonym for painful) and fancy taxes like the FBT, STT and CTT, Mr. Pranab Mukerjee seems to have other ideas. He has decided to abolish the CTT and FBT. This article gives a clearer perspective of the tax implications of the Budget presented on 06 July 2009.
Individual Income Tax
Disappointing increase in the tax slabs
There has been an increase in the income tax slab of Rs.15, 000/- for senior citizens and Rs.10,000/- for others. This means that the starting slabs become Rs.1.6 L for male taxpayers, Rs.1.8 L /- for female tax payers and Rs.2.4 L for senior citizens.
This increase is very low compared to the pre-budget expectations. But then, something is better than nothing.
Welcome deduction of the surcharge
The surcharge of 10% on income tax for tax payers who have income over Rs.10 L has been removed. This will benefit high income citizens of India.
Increase in Section DD deduction limit
The limit for deduction under Section 80DD for medical expenses to support dependents with severe disability has been increased to Rs.1 L from Rs.75, 000 earlier. This is a welcome measure as hospital and medical expenses have been increasing quite heavily.
Small Business Owners
The corporate tax rates remain unchanged.
Relief for businesses with a turnover of less than Rs.40 L
There is a good amount of administrative relief for small businesses which have a turnover of less than Rs.40 L. These businesses have an option to declare income at 8% of turnover and can be exempted from maintaining books of accounts. Also there is no need to pay advance tax. The tax payable can be paid along with the income tax returns filing. This could be a boost for all those small and medium businesses and budding entrepreneurs for whom maintaining accounts is a burdensome process.
Salaried Class
Abolishing of Fringe Benefit Tax
The only specific benefit for the salaried class in the budget is the scrapping of Fringe Benefit Tax. Companies may now be a bit more liberal with the perks offered to their executives. We can expect more on the ESOPS and Superannuation front as now they are free from the implications of the FBT.
Senior Citizens
Ex-servicemen get some benefits under the One Rank - One Pension Scheme. The benefit can be substantial if they have retired before 1st January 2009. The basic idea being that people who retired earlier than 1997 will be getting lesser pension as compared to those who retired post 97. The more logical idea which has been mooted is to have a Rank based Pension scheme.
Students
Interest during the moratorium period has been fully subsidized for students from the economically weaker sections. This is for loans from scheduled banks for approved courses in technical & professional streams from recognized institutions in India only.
All fields of study including vocational courses after schooling get the benefit of deduction of interest for loans paid for pursuing higher studies under Section 80E. Earlier this was available only for specified fields of study.
Home Managers
The budget leaves a mixed feeling for the home managers of India.
- The duty on set-top-boxes goes up. But the duty on LCD TVs comes down.
- Duties on tea & coffee go up. That cup of Coffee/tea could be more costlier!
- Critical care expenses will come down as certain (10 in number) life saving drugs will cost less. Also certain heart related devices will cost lesser.
- But to make ourselves more beautiful by surgery is going to be much more costly as cosmetic and plastic surgery come under the service tax net. This will also negatively affect those who need to do plastic surgery due to accidents and burn wounds.
- Gold and Silver will cost higher for purchases in India and also if imported as part of personal baggage. Some respite is the lesser tax on branded jewellery.
Some things left unchanged are
- Food items like biscuits, sherbets, cakes and pastries
- Pressure cookers
- Electric Bulbs costing less than Rs.20 and
- CFLs (Compact Fluorescent Lamps)
- Dress materials made from both man-made and natural fibers are going to be costlier.
Common to All
The New Pension Scheme though will continue in the Exempt- Exempt-Tax regime have been given some internal operational benefits. Its income will not be taxed.
- The dividends that it receives will not be subject to Dividend Distribution Tax.
- The NPS will also be exempt from paying Securities Transaction Tax.
People who are buying cars and multi utility vehicles above 2000cc engine capacity will get a discount of Rs.5000/-. Peanuts probably for white elephants. This would apply for cars like the Scorpio, Sumo etc
All-in-all the budget was very way off what was expected in terms of tax reforms. But, at the same time one must agree that the Finance Minister has at least set the ball rolling in the right direction towards simpler tax structures.
http://msn.bankbazaar.com/guide/what-are-the-tax-implications-post-budget-09-10/
Mamata making railways East India Company: BJP
New Delhi: The Bharatiya Janata Party (BJP) Tuesday asked Railways Minister Mamata Banerjee 'not to make Indian Railways an East India Company' and alleged that the United Progressive Alliance (UPA) government has favoured West Bengal at the cost of many other states in the rail budget.'India is not (West) Bengal. 109 adarsh (ideal) stations out of 309 have gone to Bengal (which is in the east). What is going to happen to the rest of the country? Don't make the railways an East India Company,' said BJP leader Ananth Kumar during discussion on railway budget in the Lok Sabha.
States including Maharashtra, Rajasthan, Madhya Pradesh, Chattisgarh and Jharkhand were neglected in the railway budget, he said.
He said the railway budget was the election manifesto for 2011 West Bengal polls.
Ananth Kumar's allegations irritated Banerjee, who intervened many times during his speech to clarify the ministry's position on various allegations.
At one point of time, Banerjee shouted: 'I respect your state. I respect India. Please don't insult my state.'
The BJP MP, who is also party general secretary, began his speech congratulating Banerjee for defeating the Left parties in West Bengal in the recently held Lok Sabha polls and for declaring that a white paper should be issued on the railways.
Taking a dig at former railway minister Lalu Prasad, Ananth Kumar said the white paper would not be complete if the work of the last five years' activities of the ministry was not included in it.
The BJP MP suggested an independent regulator to implement the railways minister's proposal for public-private participation in setting up businesses on lands belonging to the railways.
At this, Banerjee intervened and clarified that the railways was not selling its property, but only utilising it.
Source: Indo-Asian News Service
Yes, Pakistan nurtured terrorism, says Zardari
Islamabad: In the first candid admission of its kind by a Pakistani ruler, President Asif Ali Zardari has conceded that Islamabad "created and nurtured" terrorist elements "as a policy to achieve some short-term tactical objectives".
"The terrorists of today were the heroes of yesteryear until 9/11 (terrorist attack on America) brought things into a new light," Zardari said in what he termed "a candid admission of the realities" in an interactive meeting with former bureaucrats at the presidency Tuesday night.
"Let us be truthful to ourselves and make a candid admission of the realities... Militancy and extremism emerged on the national scene and challenged the state not because the civil bureaucracy was weakened and demoralised, but because they were deliberately created and nurtured as a policy to achieve some short-term tactical objectives," Zardari maintained.
The admission comes a fortnight after the president, in an article in the Washington Post, accused the US of fomenting militancy in Pakistan.
"The West stood by as a democratically elected (Pakistani) government was toppled by a military dictatorship in the late '70s. Because of the Soviet invasion of Afghanistan, the West used my nation as a blunt instrument of the Cold War. It empowered a Gen. Zia dictatorship that brutalized its people, decimated our political parties, murdered the prime minister who had founded Pakistan's largest political party, and destroyed the press and civil society," Zardari wrote in the article.
"And once the Soviets were defeated, the Americans took the next bus out of town, leaving behind a political vacuum that ultimately led to the Talibanization and radicalization of Afghanistan, the birth of Al-Qaeda and the current jihadist insurrection in Pakistan."
"The heroin mafia, which arose as a consequence of the efforts to implode the Soviet Union, now takes in $5 billion a year, twice the budget of our army and police. This is the price Pakistan continues to pay," Zardari wrote in the article headlined "The Frontier Against Terrorism".
Zardari also noted that his wife and former prime minister Benazir Bhutto was a victim of terrorism.
Bhutto was killed in a gun and bomb attack Dec 27, 2007, as she left a political rally in the adjacent garrison town of Rawalpindi.
It was not immediately clear whether Zardari was referring to the terrorists operating along the eastern border with India in Jammu and Kashmir, or the Taliban with which it has been waging a relentless war in the northwest and along the border with Afghanistan.
India has long accused Pakistan of sponsoring terrorism in Kashmir by providing arms and ammunition, training and funds to the guerrillas who have been fighting a two-decade old separatist war in the state.
Zardari's predecessor, military strongman Gen. Pervez Musharraf had often admitted to providing "moral support" to the "freedom fighters" in Kashmir, defiantly saying: "We will continue to do so."
India has also accused the Pakistan-based Lashkar-e-Taiba (LeT) of staging the 26/11 Mumbai mayhem that claimed more than 170 lives, including those of 26 foreigners. Pakistan has belatedly admitted that part of the Mumbai conspiracy was planned on its soil.
The Mumbai attacks had prompted India to freeze the sub-continental peace process, saying it could resume only after Pakistan took tangible action against the perpetrators of the Mumbai carnage.
New Delhi also says the LeT staged the Dec 13, 2001, attack on the Indian parliament.
The Pakistan Army is currently engaged in winding down a bruising war with the Taliban in the northwestern Swat Valley, even as it has shifted focus to the militants operating in the South Waziristan region of the Federally Administered Tribal Areas (FATA) along the border with Afghanistan.
Earlier, while shifting focus from seeing India as the foremost threat to the country towards the domestic danger posed by extremist groups, Zardari had said: "I don't think anybody in the establishment supports them (militants) any more ... I think everybody has become more wise than this."
"Military operations are all across the board against any insurgent whether in Karachi, Lahore or ... in any part of Pakistan," he said in an interview to The Daily Telegraph.
LIC earmarks Rs 25,000 crore for funds, project loans
Mumbai: The country’s largest insurer, Life Insurance Corporation of India (LIC), has earmarked around Rs 25,000 crore for investing in mutual funds (MFs) and project loans for 2009-10.Sources close to the development told Business Standard that the state-owned insurer would invest about Rs 20,000 crore in MFs and disburse project loans worth Rs 3,000-5,000 crore. The investment under these two heads could be up to 20 per cent higher than last year’s Rs 20,600 crore.
The projected investment in MFs is about 8 per cent more than last year’s Rs 18,500 crore. Most of the insurer’s corpus for MFs is likely to be parked in liquid or money market funds and fixed maturity plans (FMPs). Liquid or money market funds earn returns of 10-12 per cent. The insurer, said sources, would park money in short-term liquid funds and FMPs, where the average tenure of an investment is between two weeks and a month. It would also invest a portion in bank fixed deposits, where tenures vary between six months and a year.
As the government had signaled emphasis on infrastructure projects, the source said LIC’s investment in project loans would be at least 50 per cent more than last year’s Rs 2,100 crore.
“Project loans give returns of 13-14 per cent as compared with about 12 per cent returns from non-convertible debentures. This year, demand for project and corporate loans is poised to be more than last year and hence the returns will be more,” said an LIC executive.
Also, insurers have been seeking relaxation in infrastructure and related equity investment norms from the Insurance and Regulatory Development Authority (Irda). “Irda may consider relaxing investment norms for infrastructure projects as most of these investments are long term,” said the source.
Source: Business Standard
IAF to have 230 Sukhoi-30 MKI planes by 2015
New Delhi: Indian government plans to more than double the number of Russian-made Sukhoi 30 MKI fighter aircraft in Indian Air Force fleet to 230 by 2015, Defence Minister A K Antony informed the upper house of the Parliament, Rajya Sabha Wednesday.
Replying to supplementaries during the Question Hour, Antony said since 1996 IAF has procured 98 Sukhoi-30 MKI fighter aircraft.
"By 2015, we plan to have a fleet of 230 Sukhoi fighter aircraft," he said.
IAF, he said, feels Sukhoi - one of the most advanced fighter aircraft in the world - is best suited for Indian conditions. "IAF is very happy with these aircraft," he said.
He said a Court of Inquiry has been ordered into a Sukhoi crash near Jaisalmer on April 30 during a routine training flight.
PTI
Employment rate grows by 0.6 per cent in Jan-March
New Delhi: The Government today said employment rate in India in some sectors grew by 0.6 per cent during the first quarter of this year notwithstanding the recession, with non-export units generating more jobs than the export units.
During the January-March period, employment in gems and jewellery units grew by 3.08 per cent, in textiles by 0.96 per cent, in IT-BPO by 0.82 per cent and in automobiles by 0.10 per cent, Minister of Labour and Employment Harish Rawat informed the Rajya Sabha.
In a written reply, he, however, said the leather, metals and the transport sector observed a decline in employment.
Notably, the gems and jewellery, transport and automobile sectors were the worst affected during the October-December period last year with rate of employment declining by 8.53 per cent, 4.03 per cent and 2.42 per cent respectively, he said.
PTI
Hyundai launches i20 series price at Rs 6.1 lakh to Rs 7.7 lakh
Managing Director of Hyundai Motor India, H. S. Lheem poses with the Hyundai 'i20' Diesel during the launch in New Delhi on July 7, 2009. Hyundai's i20 Diesel and i20 Automatic are available in five variants at prices ranging from Rs 6,19,800 to Rs 7,72,301.
The country's second-largest car maker, Hyundai Motor India, plans to hike its production by over 18 per cent in the current year as it targets a 10 per cent jump in sales and expects a revival in the market in the second half of 2009.
It is planning to launch its sports utility vehicle (SUV) 'Santa Fe' in 2010, besides exploring possibilities to roll out a smaller car than 'Santro' in the Indian market. The company will also start producing diesel engines by 2010.
Air India losses could touch Rs.5,000 crore: Patel
New Delhi: Cash-strapped national carrier Air India is expected to register a loss of Rs.5,000 crore last fiscal, Civil Aviation Minister Praful Patel told parliament Tuesday."Nacil (National Aviation Co of India Ltd, that operates Air India) is expected to register a loss of approximately Rs.5,000 crore in 2008-09, largely due to high operating expenses, which have been compounded due to the present economic recession resulting in a drop in passengers," the minister said in a reply in Rajya Sabha.
Nacil was formed in 2007 after the merger of Indian and Air India, the merged entity now being knows as just Air India.
Patel said Nacil submitted a proposal last October for equity infusion of Rs.1,231 crore and for a soft loan of Rs.2,750 crore with an interest of around five percent, which it could pay over 15 years.
"The government has advised Nacil to formulate a concrete proposal for equity infusion and provision of soft loan," he said.
The minister further said that high oil prices prevailing last year and debt on account of aircraft acquisition has also led to the losses.
The mounting losses, so far estimated at Rs.4,000 crore in 2008-09, had forced Patel to approach Prime Minister Manmohan Singh last month for a Rs.10,000-crore (about $2-billion) bailout package.
Source: Indo-Asian News Service
China: Fresh ethnic clashes; Hu cuts short G8 summit trip
Residents walk past paramilitary police marching on the streets of Urumqi, China on Wednesday. China's president cut short a G8 summit trip to rush home Wednesday after ethnic tensions soared in Xinjiang territory, and the government flooded the area with security forces in a bid to quell emotions in the wake of a massive riot that left at least 156 dead.
Urumqi, China: Fresh ethnic clashes erupted in the capital of China's northwest region as thousands of Han Chinese and local Uighurs armed with makeshift weapons were locked in a tense standoff as thousands of Chinese troops flooded the city in the wake of massive riots that officially left 156 dead.
But exiled Uighur leader Rebiya Kadeer put the toll as high as 400.
The scale of the ethnic clashes forced Chinese President Hu Jintao to cut-short his official visit to Italy for the G-8 summit and rush back home, Chinese Foreign Ministry said.
Why economists don't agree with Barack Obama?
Is the President Obama's economic stimulus program a good idea? I recently gave a lecture in which I claimed that most economists thought it would speed the economy's recovery from the current downturn. After the event, a distinguished economist approached me to object to my claim. Although it was technically correct, he conceded, there were in fact many economists, including five Nobel laureates, who had publicly opposed the president's program.
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Consumption spending to stay low
What's this disagreement about? Downturns occur when total spending falls significantly short of the economy's productive capacity. Stimulus proponents have argued that two of the major components of spending -- consumption and private investment -- are likely to remain depressed for many months to come. Both claims are difficult to dispute. Consumption spending, for example, will remain well below its 2007 peak because spending at that level was never sustainable to begin with. Much of it was financed by home equity loans based on artificially high home prices. Such loans won't be paying for new cars or kitchen makeovers any time soon. Private investors, for their part, are unlikely to increase spending in the short run because their businesses can already produce much more than people want to buy.
All Govt borrowings generate debts
And so, stimulus proponents argue, the only remaining actor with the capacity to boost total spending significantly is government. If government fails to act, they warn, the economy is likely to languish for years to come.
Stimulus opponents see things differently. In a recent Forbes column, UCLA economist Lee Ohanian attributed their skepticism to their belief that "the higher taxes on incomes or expenditures that ultimately accompany higher spending depress economic activity." According to this argument, if the government borrows money to stimulate spending now, people will realize that the resulting debt will necessitate higher taxes in the future. And that realization will cause them to curtail their own current spending further, thereby offsetting the stimulus.
To be sure, all government borrowing generates debt that must be repaid. But a depressed economy, with its attendant reductions in tax revenues and automatic increases in transfer payments, also generates additional borrowing. Which source of new debt is larger? Stimulus proponents argue that by shortening the downturn, deficit spending will actually reduce the government's long-term debt burden. So if businesses and consumers believe that, they should want to increase their current spending, not reduce it.
What is the stimulus debate all about?
In a lively conversation with the economist who approached me after my recent lecture, we tried to identify the issues that divided the participants in the stimulus debate. We began by listing the various economists on each side. Quickly, a striking pattern became evident.
Proponents of the stimulus program were a remarkably diverse group. They included not only virtually every economist who had ever worked under a Democratic president, but also the lion's share of those who had served under Republicans. For example, Martin Feldstein, a top adviser to three Republican presidents, was an early advocate of massive government stimulus. Mark Zandi, an adviser to the presidential campaign of John McCain, called the Obama stimulus bill "a reasonably well-designed package." Opponents of the stimulus program, in contrast, lacked even a modicum of ideological diversity. Neither of us could name even one who was not a staunch small-government conservative.
Stocks akin to beauty pageant
John Maynard Keynes once compared investing in the stock market to picking the winner of a beauty contest. In each case, it's not who you think will win, but who you think others will pick.
It's the same for those trying to sort out the stimulus debate. The argument of stimulus opponents hinges on their belief that consumers and businesses will predict that stimulus won't work. The fact that stimulus opponents are far less numerous, have less distinguished academic credentials, on average, and are far less ideologically diverse than their counterparts does not guarantee they're wrong. But these factors should make rational consumers and investors less likely to side with them. And since this is really an argument about expectations, that's probably enough.
Source: Forbes
US Hindus protest Burger King ad featuring Goddess Lakshmi
Washington: A US-based Hindu advocacy group has asked American fast food chain Burger King to immediately remove an advertisement campaign featuring Goddess Lakshmi, which it say is "offensive" to the people of the faith.Washington-based Hindu American Foundation said Burger King is running a print advertisement in Spain that depicts an image of the goddess seated atop a meat sandwich and other foodstuff with the catch phrase, "A snack that's sacred," in Spanish.
In the letter written to the company, the HAF has also sought an apology from it for demonstrating lack of cultural and religious sensitivity in this case.
"An advertisement knowingly and intentionally using sacred symbols, especially those of another religious tradition for purely commercial purposes can be offensive in and of itself," said Suhag Shukla, managing director and legal counsel for the Foundation.
"Compounding this insult is the use of the sacred image for the sale of a meat product -Burger King's judgment in associating a burger with a Hindu goddess is absolutely baffling," Shukla said in a statement.
There was no immediate response from the media office of Burger King, when contacted by PTI.
Shukla told PTI, the Foundation had written a letter to corporate headquarters of Burger King last Tuesday. "There has been no response from them," he said.
Michael Jackson — In the culture wars
Michael Jackson was once so safe that presidents from both parties welcomed him to the White House. In death, after a scandal-filled decline, he is the latest target in the cultural war.
Rep. Peter King, R-N.Y., denounced him this week in a YouTube video as a "pervert" and a "child molester." Rush Limbaugh said Jackson "defined individuality" and "flourished" during the conservative Reagan years. New York Times columnist Bob Herbert raised the Reagan connection to attack Jackson as a symbol of impossible promises and "grotesque irresponsibility."
Others upheld a different image. Liberal columnist John Nichols believed "the singer projected to the world the sense and the promise of a multicultural and tolerant United States." Rep. Bobby Rush, D-Ill., called King's comments "scandalous and outlandish" and praised Jackson as an exemplar of "hard work, discipline, perseverance and self-determination."
"Musical savant though he was," columnist Patricia Williams wrote recently in the liberal magazine The Nation, "Jackson was, almost from the beginning, a tragic figure ... forever reflecting what others wanted him to be."
Cited by the Rev. Al Sharpton at Tuesday's memorial as helping Obama to become the first black president, Jackson himself was as cautious in his politics as he was daring in his music. He advocated self-improvement over organized action and favored uncontroversial causes such as education and anti-poverty programs. His riskiest stance may have been calling Sony Music chairman Tommy Mottola a racist, in 2002, and accusing the record industry of ripping off black artists.
"He wasn't interested in electoral politics, but he was interested in causes in the black community. He contributed to a lot of charities and was close to the Rev. (Jesse) Jackson and to Rev. Sharpton," says poet and essayist Ishmael Reed, who wrote about Jackson in "Mixing It Up," an essay collection.
Musicians have often served as irresistible, and frustrating candidates, for political branding. Elvis Presley was a counterculture pioneer who later requested, and received, an audience with President Nixon to offer his help in the government's war on drugs. Bob Dylan taunted his admirers by implying that he was for the Vietnam War. Louis Armstrong, accused by fellow blacks of being a grinning Uncle Tom, shocked the world when he called President Eisenhower "two-faced" on civil rights and said "the government can go to hell."
Politicians, in turn, have a history of celebrity fascination/revulsion -- from the Washington legislators who condemned Ingrid Bergman as an adulteress to Jimmy Carter quoting Dylan's lyrics as he campaigned for president in 1976. The star-crossed syndrome was captured whole in the 1950s when, according to Arthur Miller, he was offered a loophole on being charged for contempt of Congress for refusing to name suspected Communists. All Miller had to do was agree to one legislator's request -- permit a photo with the playwright's wife, Marilyn Monroe.
The request was denied.
Before Jackson's 2003 arrest on child molestation charges (he was found not guilty), Republicans felt safe to stand in his company. In 1984, President Reagan invited Jackson to the White House to thank him for supporting a campaign against drunk driving. "He is totally opposed to Drugs & Alcohol & is using his popularity to influence young people against them," Reagan wrote in his diary at the time.
The first President Bush also complimented Jackson, appearing with him in the Rose Garden in 1990 and noting that Jackson had received a humanitarian award from the Capital Children's Museum. "He does good work, what we call the 'Points of Light' concept," said Bush, referring to his national volunteer program. "Glad you're here, sir. Very pleased you're here."
Jackson sang "Heal the World" at President Clinton's first inaugural gala, in 1993. Nine years later, even after allegations had emerged of inappropriate behavior with children (child sexual abuse charges had been settled out of court in 1994), Jackson appeared at a New York fundraising concert for the Democratic National Committee.
Affection remains among leading Democrats. Clinton recalled Tuesday that the singer had saved the party from "terrible financial distress." President Obama mentioned his "sad personal life," but emphasized "the great joy that he brought to a lot of people through his extraordinary gifts as an entertainer."
"He was a universal African-American, probably the first post-race superstar," Reed said. "It's weird to see people attack him now because in some ways he reminds you of Obama -- looking for compromise between different groups, for ways we could all get along."
Source: AP
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International idol, Jackson mourned around globe
Fans in Asia stayed awake into the wee hours, bars across Europe held Michael Jackson theme nights and television stations from Sydney to Paris cleared their schedules Tuesday to broadcast the King of Pop's star-studded memorial service from Los Angeles.
Fans mourned the singer and celebrated his life along with the thousands attending the U.S. event, where entertainers including Stevie Wonder, Mariah Carey, Usher, Lionel Richie paid tribute to Jackson, who died June 25. The 12-year-old Welsh schoolboy Shaheen Jafargholi, who wowed TV audiences earlier this year with the Jackson 5 song "Who's Loving You" on "Britain's Got Talent" got a standing ovation after he sang the same song to the stadium.
In London, dozens of fans sheltered under umbrellas against the rain as they watched the event on a big screen outside the 02 Arena, where Jackson was to have performed 50 comeback shows starting next week. Many more stayed dry at home after the BBC announced it would cancel scheduled programming and show the ceremony live.
"His whole life was a global broadcast in a way, so I suppose it's fitting that his death also is," said barista Robert Anderson, 26, in London.
Crowds gathered outside Harlem's Apollo Theater in New York -- where the Jackson 5 won "Amateur Night" in 1967 -- and in Detroit, where his career was launched with Motown Records.
"I think he was somebody who really did change the style of music," said Jonathan Contreras, a 23-year-old college student from Westland, Michigan. "They call him the King of Pop. I call him the King of Music."
Fans gathered at Berlin's O2 World arena and at a bar just off Paris' Champs-Elysees, where about 20 people, many dressed in black, Jackson-style hats or white gloves, watched the ceremony.
"I didn't want to experience this moment alone," said Marie-Anne Le Saux, 25, an insurance company employee who helped organize the ceremony.
In Santiago, Chile, national police band played "We Are the World" during the traditional guard change at the presidential palace La Moneda, as hundreds watched.
About 50 fans lit candles and laid flowers in the main square in Stockholm, as "Billie Jean" and "Earth Song" poured out of a small stereo.
Hannah Ralme, 14, from Stockholm, said she had been heartbroken by Jackson's death. "It's like a piece of me died," she said. "The music, the way he danced, the way he expressed it showed me how to live my life -- to be childlike and think about other people."
At a Pan-African culture festival in Algiers, Algeria, hundreds of singers and dancers from across the continent performed The Jackson 5's "Blame it on the Boogie" as a tribute.
Several hundred Jackson fans gathered at a Hong Kong mall late Tuesday to remember their idol and watch the memorial on a big screen, surrounded by shuttered store fronts. Holding white candles, Hong Kong singer William Chan and Taiwanese pop star Judy Chou led the audience in observing a 30-second silence. Many fans clutched red roses and wore black; some donned Jackson's trademark fedora hats.
In Japan, home to some of Jackson's most passionate fans, about 100 people gathered at a Tower Records store in downtown Tokyo to watch his videos on a big screen hours before the Los Angeles memorial. The store, which Jackson visited twice, displayed his hand print in a cement block and large posters celebrating his performances. Several shelves dedicated to the pop star were stacked with his CDs and DVDs.
"I love him," said Namiko Hayakawa, a 31-year-old housewife, one of the first to grab a seat. "He is one of the greatest and most original solo performers. He also has a message about peace. He is such a big star, but he has a message for every little person."
In the Philippines, noontime television variety show "Eat Bulaga" said it would hold a Jackson dance contest Wednesday in honor of the pop icon.
For some, the relentless media coverage of Jackson since his death was too much.
"In Ireland we like a good funeral, so we'll be tuning in. There's no good sports match on tonight anyway," said barman Peadar O Docherty, 24, in the Stag's Head pub in central Dublin.
But, he added, "a lot of the adulation is completely over the top."
Source: AP
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UPA's scorecard on Manmohan's second innings
Dr Manmohan Singh commenced his second innings as Prime Minister on May 22, 2009, backed by a clear mandate in favour of the Congress-led United progress Alliance(UPA). The challenges before him are many--global economic recession, rising terror threat, troubled neighbours, etc. Manmohan has charted out a 100-day action plan to get the economy back on the rails and address other priority areas. Manmohan will be under the microscope of the MSN news team as he embarks on translating his 100-day vision into practice. We will give a regular update on the progress he has made in enforcing his action plan, giving him credit where it is due and sparing no effort to point out the lacunae, if any. Read on…
The industry captains patted Finance Minister Pranab Mukherjee but the commoner barely connected with what Pranab had to offer by way of Union Budget 2009. The sparks of brilliance were missing as were reforms and new ideas
The Ministry of Human Resource Development has rolled out a 100-day agenda which moots an autonomous authority for higher education and research, making the Class 10 board exam optional and review the functioning of deemed universities, among others
Union Railway Minister Mamata Banerjee has come into confrontation with Manmohan government over its handling of the Maoist agitation. Mamata publicly disassociated herself with the UPA government's decision to ban Maoists, saying she had no role in the decision.
Anxious to deliver on his 100-day action plan, Prime Minister Manmohan Singh held an informal and free-wheeling interaction with his ministrial colleagues and senior officials and asked them to reduce red tape and seek wider feedback for effective governance
In a major initiative after taking over as Union Home Minister, P Chidambaram made a two-day visit to Jammu and Kashmir from Thursday to review the security arrangements in India's most sensitive state
President Patil unveiled UPA’s blueprint for the nation. Slum-free India, cent per cent literacy, zero tolerance for terror…the list can partially be compared to NDA’s India Shining campaign. But will the glitter match the ground reality...
Prime Minister Manmohan Singh has sought a 100 day action plan from the respective Ministeries in the UPA govt. The second innings of the Congress led alliance has already started pre budget consultations and the Union Finance Minister Pranab Mukherjee is meeting state finance ministers. Here goes an IT sector's wishlist from Manmohan Singh's govt….
Dr Manmohan Singh took exactly a week to put together his full team, since his A-Team of 19 Cabinet Ministers was sworn in on May 22. But after all the birth pangs,Manmohan delivered a cohesive team, combining youth and experience. No issues of governance could be addressed during the week, as he was embroiled in the ministry making exercise.
The UPA leadership earned a high score for making a good beginning of its second tryst with power at the Centre. But it lost some marks for a few pitfalls caused by the deadlock in its negotiations with some of its pre-poll allies.
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Prakruti Nanavati, a well known designer, who has her personal brand of clothing and accessories Peeya gives us a few tips…
• An elegant and stylish dress on its own is incomplete without accessories. One does not have to wear jewellery to add that touch to your style in your daily dressing there are other mediums as well to add that glam quotient.
• Depending upon the nature of job one must accessorize accordingly. Corporate world has taken over our daily lifestyle and when attending that one has to keep in mind not to be over the top but subtle and stylish.
• A business casual is only complete when you are carrying a stylish handbag which can be oversized at times, a brief case if you are carrying a laptop.
• Pashmina scarf around your neck which need not be very expensive or a branded one, maybe a beaded neckpiece over you camisole which is not too loud, but at the same time it has to be stylish (remember it is not a party you are attending to, people should just notice you and not get overwhelmed by you).
• Shoes- Most important part of your style. Do not hesitate to spend on this part of your wardrobe. No matter how many efforts are put in for the outfit and accessorizing, all is incomplete without good pair of shoes. Pair of black and brown shoes is necessity, anything more than these is bonus! Try and match them accordingly to your meeting schedule depending upon whom are you meeting today!
• Anyone in the creative industry has lot more scope for dressing as the clientele you are facing is looking for tips from you.
• A nice piece on the neck or Hoops in the ears do the trick for daily dressing! Need not go overboard on the shopping budget for these! Trust me the ones bought from flea market look the most stylish! A nice turquoise piece on your finger or a bracelets made out of devil’s eye are show stoppers!
• Mojris in footwear, are always a fashion trend with an anklet completes the look! Tie ups under a skirt would add life to your outfit. Flats with a little embellishments here and there can add more creativity to a normal kurti and Jeans!
• Don’t try anything too bling-bling for daily dressing as it becomes overwhelming after a few hours! Always look for comfort and style combination as the daily chores need you to run around also!
• A nose ring can also look great if you are ready to experiment.
• An oversized Belt with a carved piece in the center looks very chic with a t-shirt and jeans!
Never combine the entire above tips together make sure to use a Combination of these as per the daily requirements!
Source: India Syndicate
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