General Affairs
Ganga Pollution: Green Court Asks Industries Why They Shouldn't Be Shut
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NEW DELHI: The National Green Tribunal today issued show cause notice to industries located on the stretch from Haridwar to Kanpur asking why they should not be shut down for polluting river Ganga.
The green panel also directed industries like tannery paper and pulp, textile, slaughter houses etc to clear their stand on attainment of zero liquid discharge, installation of online monitoring systems, current status of these units and asked what steps they have taken till now to control pollution resulting from their activities.
"Is there any single industry which is polluting according to you (industries)? In the last two years, we have not heard so from you people, still the pollution exists. You say your units do not cause pollution but have you ever got your trade effluent analysed?
"If pollution is there why shall we not shut these industries. Tell us why we should not close down industries which are running without consent from the pollution board," a bench headed by NGT Chairperson Justice Swatanter Kumar said.
The Tribunal ordered Uttar Pradesh Pollution Control Board to put on its website the list of 1,070 seriously polluting units and also the Environment Ministry to clarify the process of identifying seriously and grossly polluting industrial units in public domain.
During the proceedings, the counsel for slaughter houses contended that they were not discharging anything into the river and in fact irrigating fields from their used water.
To this the tribunal said, "What happens when you irrigate the land from your water? Do you even know what kind of effluents you are releasing into the underground water? You are causing water pollution directly."
The tribunal will now hear the matter on March 7.
On February 10, the green panel had set up a committee to look into the polluting industries located along the banks of Ganga and inform it about the quantum of sewage discharged by them in the river.
NEW DELHI: The National Green Tribunal today issued show cause notice to industries located on the stretch from Haridwar to Kanpur asking why they should not be shut down for polluting river Ganga.The green panel also directed industries like tannery paper and pulp, textile, slaughter houses etc to clear their stand on attainment of zero liquid discharge, installation of online monitoring systems, current status of these units and asked what steps they have taken till now to control pollution resulting from their activities.
"Is there any single industry which is polluting according to you (industries)? In the last two years, we have not heard so from you people, still the pollution exists. You say your units do not cause pollution but have you ever got your trade effluent analysed?
The Tribunal ordered Uttar Pradesh Pollution Control Board to put on its website the list of 1,070 seriously polluting units and also the Environment Ministry to clarify the process of identifying seriously and grossly polluting industrial units in public domain.
During the proceedings, the counsel for slaughter houses contended that they were not discharging anything into the river and in fact irrigating fields from their used water.
To this the tribunal said, "What happens when you irrigate the land from your water? Do you even know what kind of effluents you are releasing into the underground water? You are causing water pollution directly."
The tribunal will now hear the matter on March 7.
On February 10, the green panel had set up a committee to look into the polluting industries located along the banks of Ganga and inform it about the quantum of sewage discharged by them in the river.
Student Groups Come Out In Support Of JNU Student Kanhaiya Kumar
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NEW DELHI: 10 student organisations on Wednesday came out in support of Jawaharlal Nehru University (JNU) student leader Kanhaiya Kumar who has been arrested on sedition charges for allegedly raising anti-India slogans.
"We want a judicial probe into the whole issue, including what happened on the JNU campus on February 9 as we don't trust the central government agencies," Vishwajeet Kumar, general secretary of the All India Students Federation (AISF), told the media.
Mr Kumar is also from the CPI-affiliated AISF.
The student organisations which came out in support of JNU students include the National Students Union of India (NSUI), All India Students Association (AISA), Students Federation of India (SFI), Student for Society (SFS) and the student wings of Rashtriya Janata Dal and Janata Dal-United.
"Representatives from these 10 organisations will take out a protest march from Mandi House to parliament on Thursday and hold a public meeting on Saturday," SFI's Vikram Singh said.
Mr Kumar was arrested for allegedly raising anti-India slogans at the Jawaharlal Nehru University campus on February 9.
"We want a judicial probe into the whole issue, including what happened on the JNU campus on February 9 as we don't trust the central government agencies," Vishwajeet Kumar, general secretary of the All India Students Federation (AISF), told the media.
Mr Kumar is also from the CPI-affiliated AISF.
The student organisations which came out in support of JNU students include the National Students Union of India (NSUI), All India Students Association (AISA), Students Federation of India (SFI), Student for Society (SFS) and the student wings of Rashtriya Janata Dal and Janata Dal-United.
"Representatives from these 10 organisations will take out a protest march from Mandi House to parliament on Thursday and hold a public meeting on Saturday," SFI's Vikram Singh said.
Mr Kumar was arrested for allegedly raising anti-India slogans at the Jawaharlal Nehru University campus on February 9.
BJP To Be Aggressive On JNU Row, Fire Up 'Nationalism Debate'
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NEW DELHI: BJP has decided to strongly put forth its stand on incident at Jawaharlal Nehru University or JNU and also raise the testimony of Pakistani-American terrorist David Headley during the upcoming Parliament session to counter opposition onslaught by firing up a debate over "nationalism".
Party leaders said a decision has been taken to raise the Jawaharlal Nehru University row "very aggressively" in Parliament as they believe that there is no reason for the party to be "defensive" about the development and there is support for its stand on the issue among the masses.
The party is also launching a three-day 'Jan Swabhimaan Abhiyan' (campaign for peoples' self-pride) starting tomorrow in which party leaders and workers will try to build up public opinion against the alleged anti-national activities in the central varsity and in support of action against people involved in it.
As part of its attempt to bring focus on the issue of nationalism, party leaders said the recent sacrifices made by soldiers in Siachen will also be highlighted across the country.
"The idea is to highlight the party's stand on the issue very aggressively from Parliament to the streets. We have a strong and consistent stand on what has happened in JNU and there is no reason for the party leaders to be defensive about the development," sources said.
Headley's deposition that Ishrat Jahan, who was killed in an alleged fake encounter in Gujarat in 2004, was a Laskar-e -Taiba (LeT) operative will also come handy for the party in cornering Congress, which has made it clear that it will target the treasury benches over a host of issues, including Dalit scholar Rohith Vemula's suicide, "intolerance" and the status of economy, during the Budget session beginning on February 23.
NEW DELHI: BJP has decided to strongly put forth its stand on incident at Jawaharlal Nehru University or JNU and also raise the testimony of Pakistani-American terrorist David Headley during the upcoming Parliament session to counter opposition onslaught by firing up a debate over "nationalism".Party leaders said a decision has been taken to raise the Jawaharlal Nehru University row "very aggressively" in Parliament as they believe that there is no reason for the party to be "defensive" about the development and there is support for its stand on the issue among the masses.
The party is also launching a three-day 'Jan Swabhimaan Abhiyan' (campaign for peoples' self-pride) starting tomorrow in which party leaders and workers will try to build up public opinion against the alleged anti-national activities in the central varsity and in support of action against people involved in it.
"The idea is to highlight the party's stand on the issue very aggressively from Parliament to the streets. We have a strong and consistent stand on what has happened in JNU and there is no reason for the party leaders to be defensive about the development," sources said.
Headley's deposition that Ishrat Jahan, who was killed in an alleged fake encounter in Gujarat in 2004, was a Laskar-e -Taiba (LeT) operative will also come handy for the party in cornering Congress, which has made it clear that it will target the treasury benches over a host of issues, including Dalit scholar Rohith Vemula's suicide, "intolerance" and the status of economy, during the Budget session beginning on February 23.
Peacekeepers Must Reinvent Themselves To Face New Challenges: India
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UNITED NATIONS: With the UN peacekeeping arena facing several challenges from intra-ethnic conflicts to terrorist-related attacks, India has said there is a need for all peacekeepers to "reinvent" themselves with new tools to tackle these issues.
"There has been a need for all peacekeeping missions to adjust to the reality which we face. Peacekeepers have to literally reinvent themselves with new tools to tackle these issues," Indian Ambassador to the UN Syed Akbaruddin said in his remarks at the Opening Session of Annual Debate of the United Nations Special Committee for Peacekeeping Operations.
"India has been at the forefront of peacekeeping activities," he said, adding, "As a country which has participated in 48 UN peacekeeping operations, we have contributed our share to the maintenance of international peace and security with high standards of professionalism that our troops are known for."
Acknowledging that the landscape of peacekeeping operations has changed drastically in the last few decades, Mr Akbaruddin said the peacekeepers are deployed in areas where there are challenges that were hitherto unknown.
"These include threats from intra-ethnic conflicts to terrorist related attacks," he added.
"We as one of the most active contributors in UNPKOs (United Nations Peacekeeping Operations) do realise the change that faces us and are more than willing to add new tools in the skill sets of our troops to face these challenges in a more robust fashion," Mr Akbaruddin said.
As many as 163 Indian peacekeepers have died while serving the UN, he said, stressing that many a time careful planning and also consultative dialogue of Security Council members and the troop contributing countries, while formulating the mandate of UNPKOs, will go a long way in promoting safety and security of peacekeepers.
"Here we would also like to strongly emphasise that all Member States where PKOs are deployed must ensure that in cases of attacks on the peacekeepers there is an effective process to prosecute, punish and penalise the perpetrators of the attacks," Mr Akbaruddin said.
Appalled by the recent cases of Sexual Exploitation and Abuse (SEA) which have surfaced in some of the UNPKOs, Mr Akbaruddin said, "We have a zero tolerance policy on SEA cases and would like that there is zero tolerance on such issues across the UN too."
During the special open session of the peacekeeping committee, member countries said that the United Nations peace operations must keep pace with and respond to new and evolving challenges - including asymmetric warfare, cyber threats and pandemics.
Atul Khar, the US Under-Secretary-General for Field Support, said the international community should redouble efforts to support peacekeeping operations, particularly the missions in the most dangerous theatres of operation.
Jan Eliasson, the UN Deputy Secretary-General, said the changing nature of conflict has put pressure on the international community.
"There has been a need for all peacekeeping missions to adjust to the reality which we face. Peacekeepers have to literally reinvent themselves with new tools to tackle these issues," Indian Ambassador to the UN Syed Akbaruddin said in his remarks at the Opening Session of Annual Debate of the United Nations Special Committee for Peacekeeping Operations.
Acknowledging that the landscape of peacekeeping operations has changed drastically in the last few decades, Mr Akbaruddin said the peacekeepers are deployed in areas where there are challenges that were hitherto unknown.
"These include threats from intra-ethnic conflicts to terrorist related attacks," he added.
"We as one of the most active contributors in UNPKOs (United Nations Peacekeeping Operations) do realise the change that faces us and are more than willing to add new tools in the skill sets of our troops to face these challenges in a more robust fashion," Mr Akbaruddin said.
As many as 163 Indian peacekeepers have died while serving the UN, he said, stressing that many a time careful planning and also consultative dialogue of Security Council members and the troop contributing countries, while formulating the mandate of UNPKOs, will go a long way in promoting safety and security of peacekeepers.
"Here we would also like to strongly emphasise that all Member States where PKOs are deployed must ensure that in cases of attacks on the peacekeepers there is an effective process to prosecute, punish and penalise the perpetrators of the attacks," Mr Akbaruddin said.
Appalled by the recent cases of Sexual Exploitation and Abuse (SEA) which have surfaced in some of the UNPKOs, Mr Akbaruddin said, "We have a zero tolerance policy on SEA cases and would like that there is zero tolerance on such issues across the UN too."
During the special open session of the peacekeeping committee, member countries said that the United Nations peace operations must keep pace with and respond to new and evolving challenges - including asymmetric warfare, cyber threats and pandemics.
Atul Khar, the US Under-Secretary-General for Field Support, said the international community should redouble efforts to support peacekeeping operations, particularly the missions in the most dangerous theatres of operation.
Jan Eliasson, the UN Deputy Secretary-General, said the changing nature of conflict has put pressure on the international community.
China Deploys Missiles In South China Sea, As Obama Meets Rivals
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BEIJING: China has deployed surface-to-air missile batteries on a disputed island in the South China Sea, Taiwan and U.S. officials said, even as President Obama met rival claimants to maritime territory in the region.
Taiwan's Ministry of National Defense said in a statement that it had "grasped that Communist China had deployed" missiles on Woody Island in the Paracel group, and urged "relevant parties to refrain from any unilateral measure that would increase tensions."
Taiwan's statement followed an earlier report on Fox News that was based on satellite images. A U.S. defense official also confirmed the "apparent deployment" of the missiles, Reuters reported.
Woody Island is part of the Paracels chain,which has been under Chinese control for more than 40 years but is also claimed by Taiwan and Vietnam.
The Chinese move also followed a U.S. naval operation that that saw a missile destroyer sailing close to another Chinese-controlled island in the Paracels last month.
At a news conference Wednesday, China's Foreign Minister Wang Yi said he had only just been told of the reports but suggested they were an attempt by "certain Western media to create news stories."
He also drew attention to lighthouses, meteorological stations, and facilities for shelter and rescue that China has built on some islands.
"As for the limited and necessary self defense facilities China has built on islands and reefs stationed by Chinese personnel, that is consistent with the self defense and self preservation China is entitled to under international law," he said, at a joint event with his Australian counterpart Julie Bishop.
China has sparked concern around the region by building seven artificial islands in the Spratly chain in the South China Sea, and constructing airstrips on three of those islands. But it argues other claimants have also built airstrips and reclaimed land in the past.
"Non-militarization is certainly in the interest of all parties but non-militarization should not be just about one single country," Wang said.
Fox News, showing civilian satellite images from ImageSat International, said two batteries of eight surface-to-air missile launchers, as well as a radar system, had been deployed on Woody Island at some point between Feb. 3 and Feb. 14.
A U.S. official told Fox News the images appeared to show an HQ-9 air defense system, which has a range of 125 miles and would pose a threat to airplanes flying close by.
Adm. Harry B. Harris Jr., the head of the U.S. Pacific Command, said the deployment of missiles to the Paracels would not be a surprise but would be a concern, and be contrary to China's pledge not to militarize the region, Reuters reported.
"We will conduct more, and more complex, freedom of navigation operations as time goes on in the South China Sea," Harris told a briefing in Tokyo. "We have no intention of stopping."
Called Yongxingdao by China, Woody Island boasts an artificial harbor, an airport, roads, army posts and other buildings. Recent satellite imagery appears to show China is conducting dredging and landfilling operations at two other islands on the Paracels, while adding a helicopter base on Duncan Island that could be used for anti-submarine warfare missions, the Diplomat reported.
The news broke just as Obama was wrapping up two days of talks with 10 leaders of the Association of Southeast Asian Nations, or ASEAN, at the Sunnylands retreat in California.
Present were leaders of Vietnam, Brunei, Malaysia and the Philippines, which all have overlapping claims with China for various parts of the South China Sea.
"We discussed the need for tangible steps in the South China Sea to lower tensions, including a halt to further reclamation, new construction and militarization of disputed areas," Obama told a news conference.
During a state visit to the United States in September, China's leader Xi Jinping pledged not to militarize the contested Spratly Islands, which lie to the south of the Paracels.
But the foreign ministry in Beijing later acknowledged China was constructing "a limited amount of necessary military facilities for defense purposes only."
In Sunnylands, Obama also pledged the United States would continue to conduct "freedom of navigation" exercises in the South China Sea. He said that maritime disputes must be resolved by legal means, including through a case brought by the Philippines challenging China's claims over vast swathes of the South China Sea. The White House also announced that Obama had accepted an invitation to visit Vietnam in May, a move that reflects a growing rapport between Washington and Hanoi that also irks Beijing.
China has accused the United States of damaging peace and stability, and infringing on its sovereignty, by sailing naval vessels near some of the disputed islands in the South China Sea.
Just last month, a U.S. missile destroyer passed close to Triton island in the Paracels, in what the U.S. military said was a response to "excessive maritime claims," that restrict the rights and freedoms of the United States and other nations. China said that action "severely violated the law."
Beijing has also refused to take part in an arbitration case brought by the Philippines in The Hague, arguing that the two countries should settle their dispute bilaterally. But Obama said all parties to the U.N. law of the sea are obligated to respect the ruling.
On Monday. China's nationalist tabloid, the Global Times, argued that Sunnylands was the wrong place to discuss the South China Sea dispute, which had to be settled bilaterally between China and other claimants. "ASEAN will not be taken in by the US if the US tries to turn the South China Sea disputes into a row between China and ASEAN," it wrote in an editorial.
Ian Storey, a senior fellow at the Institute of Southeast Asian Studies in Singapore, said China had been building up its military facilities on the Paracels for some years. He said it was unclear if this latest move was a direct reaction to the recent U.S. naval operation in Paracels, but Beijing would probably try to justify it as a "reaction to U.S. military moves in the South China Sea."
It could, he said, be a precursor to China eventually declaring some kind of Air Defense Identification Zone in the northern part of the South China Sea, which could eventually be extended further south as military facilities are built up on the Spratly islands.
Such a move would be seen very negatively by the United States and other claimants. But for the time being deploying missiles on Woody Island is less provocative than making a similar move on the Spratly islands, he said, because the Paracels are basically a bilateral issue with Vietnam rather than a multilateral one.
"It is not as provocative as it could have been," he said. "If they had deployed missiles on the Spratlys, that would have elicited a much stronger response from other countries in Southeast Asia. We'll see a strong reaction from Vietnam, but I don't anticipate the other claimants will react strongly if at all."
Gregory Polling, director of the Asian Maritime Transparency Initiative at the Center for International and Strategic Studies, also drew the distinction between the Paracels and the Spratlys.
"Assuming the report is accurate, it further reinforces China's ability to control the airspace and waters around the Paracel Islands, though not really the Spratlys farther south," he said. "It is also important to note that the Paracels did not fall within President Xi Jinping's Rose Garden pledge not to militarize; he only said China didn't intend to militarize the Spratlys.
Responding to the report, Taiwan's President-elect Tsai Ing-wen told reporters tensions were now higher in the region, according to Taiwan's state-owned Central News Agency.
"We urge all parties to work on the situation based on principles of peaceful solution and self-control," Tsai said.
Philippine Defense Secretary Voltaire Gazmin also said the deployment of missiles on Woody Island "increases tensions in the South China Sea," AP reported. In Vietnam about 100 people, gathering to commemorate the start of a 1979 invasion by Chinese forces, chanted "down with the aggressors," and "Hoang Sa, Truong Sa,"the Vietnamese terms for the Paracel and Spratly islands. On Monday Vietnam's prime minister also pressed Obama for a greater U.S. role in preventing militarization and island-building in the South China Sea, Reuters reported.
Australia's Bishop this week backed the Philippines right to seek arbitration over the South China Sea dispute, but was rebuked by China for saying so, with a warning to take an "objective and unbiased attitude." On Wednesday, Bishop said she had had a "very forthright and candid discussion" with Wang on the subject, but was not taking sides on the competing maritime territorial claims.
Separately, Taiwan's foreign ministry said it would not accept the Hague panel's ruling as it was not invited to take part in the arbitration process. But it said it does accept the idea that the all parties should respect international law.
BEIJING: China has deployed surface-to-air missile batteries on a disputed island in the South China Sea, Taiwan and U.S. officials said, even as President Obama met rival claimants to maritime territory in the region.Taiwan's Ministry of National Defense said in a statement that it had "grasped that Communist China had deployed" missiles on Woody Island in the Paracel group, and urged "relevant parties to refrain from any unilateral measure that would increase tensions."
Taiwan's statement followed an earlier report on Fox News that was based on satellite images. A U.S. defense official also confirmed the "apparent deployment" of the missiles, Reuters reported.
The Chinese move also followed a U.S. naval operation that that saw a missile destroyer sailing close to another Chinese-controlled island in the Paracels last month.
At a news conference Wednesday, China's Foreign Minister Wang Yi said he had only just been told of the reports but suggested they were an attempt by "certain Western media to create news stories."
He also drew attention to lighthouses, meteorological stations, and facilities for shelter and rescue that China has built on some islands.
"As for the limited and necessary self defense facilities China has built on islands and reefs stationed by Chinese personnel, that is consistent with the self defense and self preservation China is entitled to under international law," he said, at a joint event with his Australian counterpart Julie Bishop.
China has sparked concern around the region by building seven artificial islands in the Spratly chain in the South China Sea, and constructing airstrips on three of those islands. But it argues other claimants have also built airstrips and reclaimed land in the past.
"Non-militarization is certainly in the interest of all parties but non-militarization should not be just about one single country," Wang said.
Fox News, showing civilian satellite images from ImageSat International, said two batteries of eight surface-to-air missile launchers, as well as a radar system, had been deployed on Woody Island at some point between Feb. 3 and Feb. 14.
A U.S. official told Fox News the images appeared to show an HQ-9 air defense system, which has a range of 125 miles and would pose a threat to airplanes flying close by.
Adm. Harry B. Harris Jr., the head of the U.S. Pacific Command, said the deployment of missiles to the Paracels would not be a surprise but would be a concern, and be contrary to China's pledge not to militarize the region, Reuters reported.
"We will conduct more, and more complex, freedom of navigation operations as time goes on in the South China Sea," Harris told a briefing in Tokyo. "We have no intention of stopping."
Called Yongxingdao by China, Woody Island boasts an artificial harbor, an airport, roads, army posts and other buildings. Recent satellite imagery appears to show China is conducting dredging and landfilling operations at two other islands on the Paracels, while adding a helicopter base on Duncan Island that could be used for anti-submarine warfare missions, the Diplomat reported.
The news broke just as Obama was wrapping up two days of talks with 10 leaders of the Association of Southeast Asian Nations, or ASEAN, at the Sunnylands retreat in California.
Present were leaders of Vietnam, Brunei, Malaysia and the Philippines, which all have overlapping claims with China for various parts of the South China Sea.
"We discussed the need for tangible steps in the South China Sea to lower tensions, including a halt to further reclamation, new construction and militarization of disputed areas," Obama told a news conference.
During a state visit to the United States in September, China's leader Xi Jinping pledged not to militarize the contested Spratly Islands, which lie to the south of the Paracels.
But the foreign ministry in Beijing later acknowledged China was constructing "a limited amount of necessary military facilities for defense purposes only."
In Sunnylands, Obama also pledged the United States would continue to conduct "freedom of navigation" exercises in the South China Sea. He said that maritime disputes must be resolved by legal means, including through a case brought by the Philippines challenging China's claims over vast swathes of the South China Sea. The White House also announced that Obama had accepted an invitation to visit Vietnam in May, a move that reflects a growing rapport between Washington and Hanoi that also irks Beijing.
China has accused the United States of damaging peace and stability, and infringing on its sovereignty, by sailing naval vessels near some of the disputed islands in the South China Sea.
Just last month, a U.S. missile destroyer passed close to Triton island in the Paracels, in what the U.S. military said was a response to "excessive maritime claims," that restrict the rights and freedoms of the United States and other nations. China said that action "severely violated the law."
Beijing has also refused to take part in an arbitration case brought by the Philippines in The Hague, arguing that the two countries should settle their dispute bilaterally. But Obama said all parties to the U.N. law of the sea are obligated to respect the ruling.
On Monday. China's nationalist tabloid, the Global Times, argued that Sunnylands was the wrong place to discuss the South China Sea dispute, which had to be settled bilaterally between China and other claimants. "ASEAN will not be taken in by the US if the US tries to turn the South China Sea disputes into a row between China and ASEAN," it wrote in an editorial.
Ian Storey, a senior fellow at the Institute of Southeast Asian Studies in Singapore, said China had been building up its military facilities on the Paracels for some years. He said it was unclear if this latest move was a direct reaction to the recent U.S. naval operation in Paracels, but Beijing would probably try to justify it as a "reaction to U.S. military moves in the South China Sea."
It could, he said, be a precursor to China eventually declaring some kind of Air Defense Identification Zone in the northern part of the South China Sea, which could eventually be extended further south as military facilities are built up on the Spratly islands.
Such a move would be seen very negatively by the United States and other claimants. But for the time being deploying missiles on Woody Island is less provocative than making a similar move on the Spratly islands, he said, because the Paracels are basically a bilateral issue with Vietnam rather than a multilateral one.
"It is not as provocative as it could have been," he said. "If they had deployed missiles on the Spratlys, that would have elicited a much stronger response from other countries in Southeast Asia. We'll see a strong reaction from Vietnam, but I don't anticipate the other claimants will react strongly if at all."
Gregory Polling, director of the Asian Maritime Transparency Initiative at the Center for International and Strategic Studies, also drew the distinction between the Paracels and the Spratlys.
"Assuming the report is accurate, it further reinforces China's ability to control the airspace and waters around the Paracel Islands, though not really the Spratlys farther south," he said. "It is also important to note that the Paracels did not fall within President Xi Jinping's Rose Garden pledge not to militarize; he only said China didn't intend to militarize the Spratlys.
Responding to the report, Taiwan's President-elect Tsai Ing-wen told reporters tensions were now higher in the region, according to Taiwan's state-owned Central News Agency.
"We urge all parties to work on the situation based on principles of peaceful solution and self-control," Tsai said.
Philippine Defense Secretary Voltaire Gazmin also said the deployment of missiles on Woody Island "increases tensions in the South China Sea," AP reported. In Vietnam about 100 people, gathering to commemorate the start of a 1979 invasion by Chinese forces, chanted "down with the aggressors," and "Hoang Sa, Truong Sa,"the Vietnamese terms for the Paracel and Spratly islands. On Monday Vietnam's prime minister also pressed Obama for a greater U.S. role in preventing militarization and island-building in the South China Sea, Reuters reported.
Australia's Bishop this week backed the Philippines right to seek arbitration over the South China Sea dispute, but was rebuked by China for saying so, with a warning to take an "objective and unbiased attitude." On Wednesday, Bishop said she had had a "very forthright and candid discussion" with Wang on the subject, but was not taking sides on the competing maritime territorial claims.
Separately, Taiwan's foreign ministry said it would not accept the Hague panel's ruling as it was not invited to take part in the arbitration process. But it said it does accept the idea that the all parties should respect international law.
Business Affairs
Sensex stages late rally to end 189 pts higher; Nifty above 7100 on global cues; Adani Ports top gainer
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In a volatile trading session, the S&P BSE Sensex staged a late rally to settle the day 189 points higher above its crucial psychological level of 23,000, while broader CNX Nifty jumped above its key 7,100-mark.
The benchmark indices rallied tracking positive cues from European markets as investors looked forward to a less volatile trading, a day after major world stocks recorded one of their biggest rallies in years.
Gains in index heavyweights such as Reliance Industries, Infosys and Sun Pharma also helped.
The 30-share index ended the day at 23,381, up 189.90 points, while broad-based 50-share index quoted 7,108, up 60.20 points.
Market breadth turned fairly positive with 22 of the 30 Sensex components ending the day in green.
Adani Ports was the best performing stock on sensex and gained 5.8 per cent on the Bombay Stock Exchange (BSE).
Sentiment was hit in the early trade on concerns about oil prices and China's economy. The rupee approaching its record low level also dampened mood. The domestic currency fell to as low as 68.67 to the dollar, not far from a record low of 68.85 hit in August 2013 when India was struggling with its worst financial turmoil in more than two decades.
Markets now await minutes of the Federal Reserve's last meeting due later in the day.
Banking shares continued to be hit after rating agency Standard & Poor's said on Tuesday rising capital needs put Indian public sector banks at risk of downgrades.
Among Asian markets, Hong Kong's Hang seng index shed 1.03 per cent, while Japan's Nikkei also lost 1.36 per cent. China's Shanghai Composite bucked the trend to finish 1.08 per cent higher.
A lowdown on markets today
2:20
Sensex at 23202.25, up 10 points
Nifty at 7048.05, down 0.20 points
1:10
Sensex at 23084.49, down 107 points
NIfty at 7012.30, down 36 points
10:30
Sensex at 23046.19, down 145 points
Nifty at 7000.80, down 47 points
09:30 am
Sensex at 23,109, down 82.78 points
Nifty at 7,019, down 28.35 points
In a volatile trading session, the S&P BSE Sensex staged a late rally to settle the day 189 points higher above its crucial psychological level of 23,000, while broader CNX Nifty jumped above its key 7,100-mark.
The benchmark indices rallied tracking positive cues from European markets as investors looked forward to a less volatile trading, a day after major world stocks recorded one of their biggest rallies in years.
Gains in index heavyweights such as Reliance Industries, Infosys and Sun Pharma also helped.
The 30-share index ended the day at 23,381, up 189.90 points, while broad-based 50-share index quoted 7,108, up 60.20 points.
Market breadth turned fairly positive with 22 of the 30 Sensex components ending the day in green.
Adani Ports was the best performing stock on sensex and gained 5.8 per cent on the Bombay Stock Exchange (BSE).
Sentiment was hit in the early trade on concerns about oil prices and China's economy. The rupee approaching its record low level also dampened mood. The domestic currency fell to as low as 68.67 to the dollar, not far from a record low of 68.85 hit in August 2013 when India was struggling with its worst financial turmoil in more than two decades.
Markets now await minutes of the Federal Reserve's last meeting due later in the day.
Banking shares continued to be hit after rating agency Standard & Poor's said on Tuesday rising capital needs put Indian public sector banks at risk of downgrades.
Among Asian markets, Hong Kong's Hang seng index shed 1.03 per cent, while Japan's Nikkei also lost 1.36 per cent. China's Shanghai Composite bucked the trend to finish 1.08 per cent higher.
A lowdown on markets today
2:20
Sensex at 23202.25, up 10 points
Nifty at 7048.05, down 0.20 points
1:10
Sensex at 23084.49, down 107 points
NIfty at 7012.30, down 36 points
10:30
Sensex at 23046.19, down 145 points
Sensex at 23046.19, down 145 points
Nifty at 7000.80, down 47 points
09:30 am
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Rupee nears all-time low hit in August 2013, down 29 paise to 68.67 against US dollar
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Extending losses for the second day, the rupee approached its life-time low hit in August 2013, forcing the Reserve Bank of India (RBI) to intervene to stem further falls on a tough day for Asian currencies.
The domestic currency fell as much as 29 paise to 68.67 against US dollar, not far from a record low of 68.85 hit in August 2013 when India was struggling with its worst financial turmoil since the 1991 balance of payment crisis.
On Tuesday, the rupee had tumbled by 31 paise to a fresh 29-month low of 68.38 a dollar.
In 2013 global markets were hit by fears of a "Fed taper" as the U.S. central bank sought to reduce its massive policy easing. This time around the rupee is also responding to a worsening global environment, including uncertainty about low oil prices and continued worries about China's economy.
Traders said they expect the rupee to soon test the record low, with one-month non-deliverable forwards PNDF already trading at 69.
Meanwhile, the one-month implied volatility INRVOL of the currency touched a six-month high of 7.74 percent. It was 7.05 percent on Tuesday.
But traders were hoping India's sturdier economic fundamentals than in 2013 and foreign exchange reserves of near a record $355 billion could help reduce some of the concerns, though much would depend on how the Reserve Bank of India (RBI) responds.
"The rupee can go much weaker," said Ashtosh Raina, head of FX trading with HDFC Bank.
"Once it touches 68.85 (to the dollar), we need to see how the macroeconomic indicators pan out and we have to watch what the central bank does," Raina said.
Most emerging Asian currencies slid on Wednesday with South Korea's won at 5-1/2-year low on doubts over the sustainability of an oil rebound.
The rupee is the second worst-performing Asian currency tracked by Reuters so far this year. Only the won has fallen more.
Foreign investors were net sellers in the first two months of 2016, pulling $2.2 billion from India's debt and equity markets, but those outflows come after they had bought a net $12.2 billion in 2015.
The RBI sold dollars via state-run banks to prevent further falls, traders said.
RBI Governor Raghuram Rajan in September said India would be "an island of relative calm in an ocean of turmoil" and has touted the country's lower inflation and higher growth than other economies.
Rajan has indicated the RBI will step in to ease volatility in the rupee but would not manage exchange rates.
Extending losses for the second day, the rupee approached its life-time low hit in August 2013, forcing the Reserve Bank of India (RBI) to intervene to stem further falls on a tough day for Asian currencies.
The domestic currency fell as much as 29 paise to 68.67 against US dollar, not far from a record low of 68.85 hit in August 2013 when India was struggling with its worst financial turmoil since the 1991 balance of payment crisis.
On Tuesday, the rupee had tumbled by 31 paise to a fresh 29-month low of 68.38 a dollar.
In 2013 global markets were hit by fears of a "Fed taper" as the U.S. central bank sought to reduce its massive policy easing. This time around the rupee is also responding to a worsening global environment, including uncertainty about low oil prices and continued worries about China's economy.
Traders said they expect the rupee to soon test the record low, with one-month non-deliverable forwards PNDF already trading at 69.
Meanwhile, the one-month implied volatility INRVOL of the currency touched a six-month high of 7.74 percent. It was 7.05 percent on Tuesday.
But traders were hoping India's sturdier economic fundamentals than in 2013 and foreign exchange reserves of near a record $355 billion could help reduce some of the concerns, though much would depend on how the Reserve Bank of India (RBI) responds.
"The rupee can go much weaker," said Ashtosh Raina, head of FX trading with HDFC Bank.
"Once it touches 68.85 (to the dollar), we need to see how the macroeconomic indicators pan out and we have to watch what the central bank does," Raina said.
Most emerging Asian currencies slid on Wednesday with South Korea's won at 5-1/2-year low on doubts over the sustainability of an oil rebound.
The rupee is the second worst-performing Asian currency tracked by Reuters so far this year. Only the won has fallen more.
Foreign investors were net sellers in the first two months of 2016, pulling $2.2 billion from India's debt and equity markets, but those outflows come after they had bought a net $12.2 billion in 2015.
The RBI sold dollars via state-run banks to prevent further falls, traders said.
RBI Governor Raghuram Rajan in September said India would be "an island of relative calm in an ocean of turmoil" and has touted the country's lower inflation and higher growth than other economies.
Rajan has indicated the RBI will step in to ease volatility in the rupee but would not manage exchange rates.
Amazon acquires Indian payments processor Emvantage
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Amazon.com said it has acquired Indian payments processor Emvantage Payments for an undisclosed sum.
Emvantage's employees will join Amazon's India unit that will use the company's technology on its e-commerce website, Amazon said in a statement.
Amazon has been rapidly expanding into India's fast growing e-commerce segment that is likely to grow to $220 billion by value of goods sold by 2025.
Amazon.com said it has acquired Indian payments processor Emvantage Payments for an undisclosed sum.
Emvantage's employees will join Amazon's India unit that will use the company's technology on its e-commerce website, Amazon said in a statement.
Amazon has been rapidly expanding into India's fast growing e-commerce segment that is likely to grow to $220 billion by value of goods sold by 2025.
Retail inflation likely at 5.6-5.8% for next 2 months
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Inflation based on the Consumer Price Index (CPI) is likely to remain in the 5.6-5.8 per cent range over the next two months,Deutsche Bank said in a research note, predicting that RBI would cut the policy rate "one more time".
According to the global financial services firm, inflation and growth worries for the Indian economy still persist and implementation of the Seventh Pay Commission recommendations is likely to exert pressure on fiscal finances of the government - both the Centre and states.
"We expect CPI inflation to remain in the 5.6-5.8 per cent range over the course of the next two months, in line with RBI's near-term target, but higher than what we had anticipated earlier," Deutsche Bank said in a research note.
As per official data, retail inflation has been rising for six straight months and stood at nearly one and a half-year high of 5.69 per cent in January.
The Reserve Bank had projected retail inflation to be around 6 per cent in January 2016 and further lower at 5 per cent by March 2017.
On the Reserve Bank's policy stance, the report said RBI will still cut the policy rate one more time.
"We think RBI will consider all the nuances in the national accounts data and find enough justification to cut rates, once the Union Budget is out of the way in February-end," the report said.
RBI is slated to come out with the first bi-monthly policy review for 2016-17 fiscal on April 5 and will take into consideration inflationary trends and also macro data for February before deciding on its monetary stance.
The central bank looks into mainly retail inflation numbers while firming up its monetary policy stance.
"We expect the government to settle for a higher fiscal deficit target (3.8 per cent of GDP) in 2016-17, but lower than the 3.9 per cent likely outturn in 2015-16. The inflation trajectory will likely get affected by 30-50 bps due to the Pay Commission impact, which should still leave room for the central bank to cut the policy rate by at least 25 bps," the report said.
Beyond that, scope of further rate cuts would be strictly data-dependent and would hinge on the likelihood of RBI meeting the 5 per cent CPI target by early next year, it added.
Inflation based on the Consumer Price Index (CPI) is likely to remain in the 5.6-5.8 per cent range over the next two months,Deutsche Bank said in a research note, predicting that RBI would cut the policy rate "one more time".
According to the global financial services firm, inflation and growth worries for the Indian economy still persist and implementation of the Seventh Pay Commission recommendations is likely to exert pressure on fiscal finances of the government - both the Centre and states.
"We expect CPI inflation to remain in the 5.6-5.8 per cent range over the course of the next two months, in line with RBI's near-term target, but higher than what we had anticipated earlier," Deutsche Bank said in a research note.
As per official data, retail inflation has been rising for six straight months and stood at nearly one and a half-year high of 5.69 per cent in January.
The Reserve Bank had projected retail inflation to be around 6 per cent in January 2016 and further lower at 5 per cent by March 2017.
On the Reserve Bank's policy stance, the report said RBI will still cut the policy rate one more time.
"We think RBI will consider all the nuances in the national accounts data and find enough justification to cut rates, once the Union Budget is out of the way in February-end," the report said.
RBI is slated to come out with the first bi-monthly policy review for 2016-17 fiscal on April 5 and will take into consideration inflationary trends and also macro data for February before deciding on its monetary stance.
The central bank looks into mainly retail inflation numbers while firming up its monetary policy stance.
"We expect the government to settle for a higher fiscal deficit target (3.8 per cent of GDP) in 2016-17, but lower than the 3.9 per cent likely outturn in 2015-16. The inflation trajectory will likely get affected by 30-50 bps due to the Pay Commission impact, which should still leave room for the central bank to cut the policy rate by at least 25 bps," the report said.
Beyond that, scope of further rate cuts would be strictly data-dependent and would hinge on the likelihood of RBI meeting the 5 per cent CPI target by early next year, it added.
Government to inject more funds into state banks as bad loans soar
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The government is preparing to pump in a higher-than-anticipated capital sum into poorly performing state banks, sources said, a move that could see New Delhi infuse as much as $34 billion additionally and make it harder to hit planned deficit targets.
Prime Minister Narendra Modi's government in August pledged to put in 700 billion rupees ($10.2 billion) into state-run banks through four years to March 2019 as part of a broader banking reforms programme. It had then said the lenders would raise another 1.1 trillion rupees from the financial markets.
But a surge in provisions for bad loans in a central bank-directed balance sheet clean-up exercise has sent several lenders into losses, hammering their stock prices and limiting their ability to secure external funding as the economy wobbles.
It also means Finance Minister Arun Jaitley will have to squeeze the national budget to foot the bill.
"Indian public sector banks may find it difficult to raise capital, given their currently weak operating performance," Standard & Poor's credit analyst Deepali Seth said in a report, highlighting a risk of further rating downgrades.
"These banks will therefore have to rely more on government support for capital infusions."
Two senior government officials with direct knowledge of the matter said a new capital-infusion plan was being formulated that Jaitley might propose as early as the end of this month when he presents the federal budget. They did not say how much more the government was targeting injecting into the banks.
A finance ministry spokesman did not immediately respond to a request for comment.
India Ratings and Research, a local affiliate of Fitch, reckons the government will have to cough up at least 1.26 trillion rupees, nearly double of what it originally planned, to keep its current ownership of state banks.
But the figure might swell to as much as 3 trillion rupees if the lenders fail to raise funds from markets, it said.
"Right now it's a tightrope walk," said Abhishek Bhattacharya, co-head of financial institutions at India Ratings.
A sharp slowdown in India's nominal economic growth, which drives tax revenues, has already made it tougher for Jaitley to meet a target of trimming the fiscal deficit to 3.5 percent of GDP in the year that begins in April from the 3.9 percent budgeted for this year.
Bhattacharya said the extra burden of capital infusion could add 35-40 basis points every year to the deficit over the next three years.
In a Twitter post on Friday, the finance ministry quoted Jaitley as saying that the government is "committed to protect the banks and give them the capital requirements".
"Bad loans are there but banks are equipped to deal with these issues," Jaitley said.
GROWTH CAPITAL
Banks are the main source of funding for infrastructure and other investment projects, and capital constraints at the banks could throttle a nascent recovery.
Big quarterly losses at lenders including Bank of India and Indian Overseas Bank mean some of them will need more capital sooner than expected to grow lending. Bank credit growth last fiscal year fell to its slowest in nearly two decades.
With all state-run banks, including top lender State Bank of India, trading at a steep discount to their book values, selling shares at dirt-cheap valuations is not an option.
Ashwani Kumar, chairman at Dena Bank that is in talks with the government for capital support, said the original capital infusion plan was based on parameters including profitability of lenders, pace of bad loan additions and banks' ability to raise funds from the market.
"If those parameters don't hold good, they have to put in more money," he said.
The government is preparing to pump in a higher-than-anticipated capital sum into poorly performing state banks, sources said, a move that could see New Delhi infuse as much as $34 billion additionally and make it harder to hit planned deficit targets.
Prime Minister Narendra Modi's government in August pledged to put in 700 billion rupees ($10.2 billion) into state-run banks through four years to March 2019 as part of a broader banking reforms programme. It had then said the lenders would raise another 1.1 trillion rupees from the financial markets.
But a surge in provisions for bad loans in a central bank-directed balance sheet clean-up exercise has sent several lenders into losses, hammering their stock prices and limiting their ability to secure external funding as the economy wobbles.
It also means Finance Minister Arun Jaitley will have to squeeze the national budget to foot the bill.
"Indian public sector banks may find it difficult to raise capital, given their currently weak operating performance," Standard & Poor's credit analyst Deepali Seth said in a report, highlighting a risk of further rating downgrades.
"These banks will therefore have to rely more on government support for capital infusions."
Two senior government officials with direct knowledge of the matter said a new capital-infusion plan was being formulated that Jaitley might propose as early as the end of this month when he presents the federal budget. They did not say how much more the government was targeting injecting into the banks.
A finance ministry spokesman did not immediately respond to a request for comment.
India Ratings and Research, a local affiliate of Fitch, reckons the government will have to cough up at least 1.26 trillion rupees, nearly double of what it originally planned, to keep its current ownership of state banks.
But the figure might swell to as much as 3 trillion rupees if the lenders fail to raise funds from markets, it said.
"Right now it's a tightrope walk," said Abhishek Bhattacharya, co-head of financial institutions at India Ratings.
A sharp slowdown in India's nominal economic growth, which drives tax revenues, has already made it tougher for Jaitley to meet a target of trimming the fiscal deficit to 3.5 percent of GDP in the year that begins in April from the 3.9 percent budgeted for this year.
Bhattacharya said the extra burden of capital infusion could add 35-40 basis points every year to the deficit over the next three years.
In a Twitter post on Friday, the finance ministry quoted Jaitley as saying that the government is "committed to protect the banks and give them the capital requirements".
"Bad loans are there but banks are equipped to deal with these issues," Jaitley said.
GROWTH CAPITAL
Banks are the main source of funding for infrastructure and other investment projects, and capital constraints at the banks could throttle a nascent recovery.
Big quarterly losses at lenders including Bank of India and Indian Overseas Bank mean some of them will need more capital sooner than expected to grow lending. Bank credit growth last fiscal year fell to its slowest in nearly two decades.
With all state-run banks, including top lender State Bank of India, trading at a steep discount to their book values, selling shares at dirt-cheap valuations is not an option.
Ashwani Kumar, chairman at Dena Bank that is in talks with the government for capital support, said the original capital infusion plan was based on parameters including profitability of lenders, pace of bad loan additions and banks' ability to raise funds from the market.
"If those parameters don't hold good, they have to put in more money," he said.
General Awareness
List of BAFTAs Awards 2016
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Britain's 69th British Academy Film Awards (BAFTA) were held at the Royal Opera House in London on February 14, The "Revenant" won big at this year’s BAFTA Awards, winning best film, best director for Alejandro González Iñárritu, and best actor for Leonardo DiCaprio, the full list of 2016’s BAFTA winners.
Complete List of Winners:
Film: The Revenant
Director: Alejandro G Inarritu, The Revenant
Leading Actor: Leonardo DiCaprio, The Revenant
Leading Actress: Brie Larson, Room
Supporting Actor: Mark Rylance, Bridge of Spies
Supporting Actress: Kate Winslet, Steve Jobs
Adapted Screenplay: The Big Short, Adam McKay, Charles Randolph
Animated Film: Inside Out
British Short Animation: Edmond
British Short Film: Operator
Cinematography: The Revenant, Emmanuel Lubezki
Costume Design: Mad Max: Fury Road, Jenny Beavan
Documentary: Amy
EE Rising Star: John Boyega
Editing: Mad Max: Fury Road, Margaret Sixel
Film not in the English Language: Wild Tales
Make-Up and Hair: Mad Max: Fury Road
Original Music: The Hateful Eight, Ennio Morricone
Original Screenplay: Spotlight, Tom McCarthy, Josh Singer
Outstanding British Film: Brooklyn
Outstanding Debut by a British Writer, Director or Producer: The Theeb, Rupert Lloyd
Production Design: Mad Max: Fury Road
Sound: The Revenant
Special Visual Effects: Star Wars: The Force Awakens
- Britain's 69th British Academy Film Awards (BAFTA) were held at the Royal Opera House in London on February 14, The "Revenant" won big at this year’s BAFTA Awards, winning best film, best director for Alejandro González Iñárritu, and best actor for Leonardo DiCaprio, the full list of 2016’s BAFTA winners.
Complete List of Winners:
Film: The Revenant
Director: Alejandro G Inarritu, The Revenant
Leading Actor: Leonardo DiCaprio, The Revenant
Leading Actress: Brie Larson, Room
Supporting Actor: Mark Rylance, Bridge of Spies
Supporting Actress: Kate Winslet, Steve Jobs
Adapted Screenplay: The Big Short, Adam McKay, Charles Randolph
Animated Film: Inside Out
British Short Animation: Edmond
British Short Film: Operator
Cinematography: The Revenant, Emmanuel Lubezki
Costume Design: Mad Max: Fury Road, Jenny Beavan
Documentary: Amy
EE Rising Star: John Boyega
Editing: Mad Max: Fury Road, Margaret Sixel
Film not in the English Language: Wild Tales
Make-Up and Hair: Mad Max: Fury Road
Original Music: The Hateful Eight, Ennio Morricone
Original Screenplay: Spotlight, Tom McCarthy, Josh Singer
Outstanding British Film: Brooklyn
Outstanding Debut by a British Writer, Director or Producer: The Theeb, Rupert Lloyd
Production Design: Mad Max: Fury Road
Sound: The Revenant
Special Visual Effects: Star Wars: The Force Awakens
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