Tuesday, October 30, 2007

Webinfosys's Local News : Sensex zooms 616 points on global cues

Tracking global trend, the benchmark Sensex sky-rocketed by over 616 points, inching closer towards the 20k mark, in early trade on the Bombay Stock Exchange on Monday on aggressive buying by funds ahead of the US Federal Reserve meeting.


The 30-share index, Sensex, shot up by 616.30 points at 19,859.47 in the first five minutes of trade and is on its way to capture another milestone.


Similarly, the wide-based National Stock Exchange's index Nifty spurted by 168.40 points at 5,870.70.


In Hong Kong the market index Hang Seng opened higher by 1.9 per cent on expectations that the US Federal Reserve will cut interest rates this week.




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Webinfosys's Local News : Nandigram shuts down amid fear of fresh violence

Tension continued on Monday in West Bengal's Nandigram area with a shutdown called by the ruling Communist Party of India-Marxist (CPI-M) to protest the deaths of four people in a blast evoking near total response.

Amid reports of sporadic gunbattle during the night, the 12-hour shutdown began in five blocks of Nandigram and adjoining Khejuri and Chandipur areas in East Midnapore, about 150 kms from here.

The CPI-M has called the shutdown to protest the deaths of four party supporters in explosions in a house in Nandigram adjoining Khejuri early on Sunday.

The CPI-M blamed the rival Bhumi Uchched Pratirodh Committee (BUPC). However, the BUPC, which is backed by the Trinamool Congress, said the explosion occurred when the CPI-M men were making bombs.

"There is no report of any fresh clash since Sunday evening but tension prevailed in the area," an official from Nandigram police station said even as BUPC claimed gunshots were heard during the night.

Trinamool Congress chief Mamata Banerjee, who claimed her convoy was fired at Sunday afternoon, might again try to enter Nandigram on Monday.

The CPI-M has trashed claims that their party members fired at Banerjee's convoy in the area -- where violence continues, despite the government scrapping a proposed industrial complex following stiff opposition to the takeover of their land. Various groups are keeping the issue alive in the run-up to panchayat polls next year.

"She is telling lies in the fashion of Goebbels' propaganda," CPI-M leader Shymal Chakraborty said after the news of firing on Banerjee's convoy spread.

"Mamata Banerjee is enacting a drama there. How can she show the cartridge case at the place where the bullet landed? The shell cannot be found at the spot, it should be found somewhere from where the aim was taken," Chakraborty said.




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Webinfosys's Local News : Argentine first lady claims victory in presidential elections

Argentina's glamorous first lady, Cristina Fernandez de Kirchner, claimed victory on Sunday in her bid to succeed her husband and become the first woman in her country's history to be elected president.

"We have won by a large margin," the 54-year-old senator told cheering supporters in a speech broadcast live on television hours after the polls closed.

A partial count showed her with 43 per cent of the vote, double that of her nearest rival, according to a tally of 12 per cent of ballots on the official electoral agency website.

If maintained, that score will make her the outright victor of the election without the need for a runoff in November.

With her husband on stage with her, applauding her words, Fernandez made special mention "of the man who is at my side today, and who has been my companion all my life," and blew him a kiss.

In the lead-up to the elections -- which she entered as the solid favorite -- she emphasized her husband's presidential record more than her own two decades in politics as a lawmaker.

Kirchner, 57, enjoys widespread popularity for having overseen an impressive turnaround in Argentina's economy during his four-year mandate. He has not explained why he is stepping down.

When he came in, the country was still in a poor state after a 2001 economic collapse that saw it become the biggest-ever sovereign debt defaulter. Since then, the economy has grown nearly 50 per cent and unemployment has halved.

Fernandez reminded supporters of that, telling them "we have come a long way" since those early, desperate days.

"We have repositioned the country, fought poverty and unemployment, all these tragedies that have hit Argentines," she said.

Observers, though, said Fernandez could be in for a rough ride if she ignored the threats now stalking the country: high inflation, rising crime and low foreign investment.

"She will find it a very different challenge than that during her husband's term," Michael Shifter, a Latin American analyst at the Washington thinktank The Dialogue, told AFP.

"The risk is that she's going to think that what worked for him will work for her," he said.

Official early figures showed Argentina's 27 million voters had given her a huge lead over the 13 other challengers who had tried to take over Kirchner's job.

The two closest rivals were a respected former economy minister, Roberto Lavagna, on around 20 per cent, and a former lawmaker, Elisa Carrio, on 19 per cent.

A lawyer who got her taste of executive power during her husband's term in office, Fernandez has been frequently compared to US lawyer, senator and former first lady Hillary Clinton.

Her penchant for designer dresses and a reputation for arrogance have also made many talk about her in terms of Argentina's most iconic woman politician: Eva, or "Evita" Peron, second wife to president Juan Peron.

It was Juan Peron's third wife, Isabel, who was Argentina's first-ever female president -- but that was because she was elevated from the vice-presidency on her husband's death in 1974, and she never had a chance to contest an election, being ousted in a coup two years later.

Sunday's election also selected half the seats in the upper and lower houses of the national congress, and the governors and parliaments in several provinces.




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