End of the road for gold?

September 26, 2011 By Leave a Comment

No, surely not. However it is time to be cautious for sure. What are the risks in gold? Or is it that there are no risks at all, as some readers would like to believe?
Well let us look at some of the risks:

1.    It is not an essential commodity: You cannot eat gold. If prices go beyond a point, people will just not consume it! It is not air or water.

2.    Remember in the year 2008 gold lost MORE THAN 30% of value — clearly the hedge theory goes. A hedge asset SHOULD move in the other direction, not in sympathy.

3.    In the 1980s gold lost about 65% of its value in about 2 years time! Remember both these events happened against a not very strong currency — the US dollar!!

4.    When fear subsides, and things return to normal, the law of demand and supply will apply to all assets — including gold.

5.    The Chicago Mercantile Exchange has a very high margin now for gold — and CME is a good reader of volatility. Expect volatility, margin calls, and sales by the lenders — all these do not sound good.

6.    No income generating capability: If you go wrong in a portfolio of good shares (i.e. prices have fallen!) at least you are sure of getting a 2% to 4%p.a. return in dividends. This is not great, but will FORCE lenders / investors to discount the cashflow and arrive at a new price. If the company does well, dividends will increase, forcing the value to go up. Sadly in case of gold, I have to hope that there is a GREATER FOOL THEORY and I will be able to find him, so that I can sell. This is not easy.

The author P V Subramanyam is a Chartered Accountant by qualification and a financial trainer by profession. Writing being a passion he also regularly pens his thought in his blog Subramoney.com

Filed Under: Business News Tagged With: , , , , , , ,

FACTBOX-Five facts about new AIA head Tucker

July 20, 2010 By Leave a Comment

(Reuters) – Former Prudential Plc (PRU.L) chief executive Mark Tucker was on Monday named by bailed-out insurer American International Group Inc (AIG) (AIG.N) as executive chairman and CEO of its Asian life insurance business, American International Assurance (AIA), replacing existing head Mark Wilson. [ID:nTOE66I026]

Following are five facts about Tucker:

* Started adult life as a trainee professional footballer in Britain, making appearances for Wolverhampton Wanderers, Rochdale and Barnet.

* Is a chartered accountant. First joined Prudential group in 1986, working initially in Prudential Portfolio Managers Limited. Was Chief Executive of Prudential Corporation Asia for a decade up until 2003.

* Left Prudential in 2004 to join HBOS Plc as finance director. But returned as Prudential’s CEO in 2005 and stayed in that role until 2009, when he quit the group.

* Had eyed acquisition of AIA when he was CEO, but AIG did not proceed with the sale then.

* Born on Dec. 29, 1957 (Compiled by Muralikumar Anantharaman)

Filed Under: International News Tagged With: , , , , , , , , , , , , , , , , , , ,

David Newbold Appointed CFO at Greystar Resources

July 7, 2010 By Leave a Comment

VANCOUVER, BRITISH COLUMBIA, Jul 06 (MARKET WIRE) —
Greystar Resources Ltd. (the “Company”) (TSX: GSL)(AIM: GSL) is
pleased to announce the appointment of David Newbold as Chief Financial
Officer (CFO) of the Company effective August, 2010. David, a citizen of
the United Kingdom, has Canadian permanent resident status but will serve
as an international consultant to the Company until pre-employment
clearances are received. Newbold will relocate in August to Vancouver,
British Columbia and assume the role of CFO.

David is a UK chartered accountant with over 36 years of international
experience in mining and finance. He holds a B.Sc. in Mathematics from
the University of East Anglia, United Kingdom. David spent eleven years
(1995-2006) at Placer Dome Inc. where he held positions of increasing
responsibility including Senior Vice President, Commercial; Senior Vice
President Strategy, Placer Dome America; President & CEO, Zaldivar Copper
Mine; and Senior Vice President and CFO, Placer Dome Latin America. Prior
to Placer Dome David spent several years at Outokumpu holding various
finance positions. David most recently was a consultant to companies
assisting them with their overseas business development and mining
investment opportunities.

Steve Kesler, President and CEO of Greystar commented, “We are
delighted to have David join Greystar. David’s experience in the finance
and development of large scale mining projects, particularly in Latin
America, will immediately strengthen the Greystar management team. David
will lead the effort to secure the finance for the Angostura gold and
silver project.”

Greystar also announces that Geoff Chater has stepped down as
Vice-President Corporate Development to return to his consulting
business. Mr. Chater will continue to support the Company as a consultant
and will work closely with Steve Kesler, on current and future
initiatives.

Steve Kesler commented, “Geoff has done a tremendous job for
Greystar initially as a director and consultant and then taking on an
executive position to develop the Company’s relationship with investors.
We look forward to continuing to benefit from his consulting services and
wish him every success in developing his business.”

About Greystar Resources Ltd.

Greystar Resources Ltd. is a precious metals exploration and development
company that is currently completing a feasibility study on its wholly
owned, multi-million ounce Angostura gold-silver deposit in northeastern
Colombia. A positive prefeasibility study announced on March 25, 2009
envisions average annual production at Angostura of 511,000 ounces of
gold and 2.3 million ounces of silver over a 15 year mine life.

Forward-Looking Statements

Certain statements in this news release are “forward-looking”
within the meaning of Canadian securities legislation. They include
statements about the estimated annual production from the Angostura
Project.. Forward-looking statements are necessarily based upon a number
of estimates and assumptions that, while considered reasonable by the
Company, are inherently subject to significant business, economic,
competitive, political and social uncertainties and other contingencies.
Many factors could cause the Company’s actual results to differ
materially from those expressed or implied in the forward-looking
statements. These factors include, among others, conclusions or
realization of mineral resources, the actual results of exploration
activities, possible variations in ore grade or recovery rates,
fluctuations in the price of gold and silver, risks relating to
additional funding requirements, political and foreign risks, production
risks, environmental regulation and liability, government regulation as
well as other risk factors set out under the heading “Risk
Factors” in the Annual Information Form dated March 26, 2010 which
is available on SEDAR at www.sedar.com. Investors are cautioned not to
put undue reliance on forward-looking statements due to the inherent
uncertainty therein.

Neither the Toronto Stock Exchange nor the AIM Market of the London Stock
Exchange has reviewed and neither accepts responsibility for the adequacy
or accuracy of this news release.

Contacts:
Greystar Resources
Geoff Chater
(604) 614-7830
info@greystarresources.com
www.greystarresources.com

Renmark Financial Communications Inc.
John Boidman
Investor Relations Contact
(514) 939-3989 or (416) 644-2020
jboidman@renmarkfinancial.com

Renmark Financial Communications Inc.
Dan Symons
Investor Relations Contact
(514) 939-3989 or (416) 644-2020
dsymons@renmarkfinancial.com
www.renmarkfinancial.com

NCB Stockbrokers Limited
Christopher Caldwell
London NOMAD Contact
+44 (0) 20 7071 5200
christopher.caldwell@ncb.ie

Copyright 2010, Market Wire, All rights reserved.

Filed Under: International News Tagged With: , , , , , , , , , , , , , , , , , , ,

U3O8 Corp. Appoints John Ross as Chief Financial Officer

June 5, 2010 By Leave a Comment

TORONTO, ONTARIO, Jun 04 (MARKET WIRE) —
U3O8 Corp. (TSX VENTURE: UWE), a Canadian-based company focused on
uranium exploration and resource expansion in South America, is pleased
to announce the appointment of John Ross as Chief Financial Officer,
effective June 4.

John is a Chartered Accountant with over 25 years of experience in the
financial management of Canadian publicly listed exploration and mining
companies operating in South America, Africa and Canada. Previously, he
served as Chief Financial Officer of Colossus Minerals Inc. (an advanced
explorer in Brazil), Cronus Resources Ltd. (a gold explorer in Mexico,
recently amalgamated with Continental Gold Limited), FNX Mining Company
(a nickel and precious metal producer in the Sudbury Basin), and IAMGold
Corp. (a gold producer with operations in Africa and exploration in
Ecuador, Brazil and Argentina). John started his career in the mining
industry at Rio Algom Limited. John was instrumental in FNX Mining’s
transition from an exploration to a development company and he
contributed to IAMGold’s development into an intermediate gold producer.
He also implemented IAMGold’s decision to convert its cash to gold
immediately prior to the sustained increase in the gold price.

U3O8 Corp. wishes to thank Carmelo Marrelli for his contribution as Chief
Financial Officer and helping the company progress from inception to
become a leading, advanced exploration company.

In association with Mr. Ross’ appointment, 150,000 stock options have
been granted pursuant to the company’s stock option plan at an exercise
price of $0.24 per share and will expire on June 3, 2015.

About U3O8 Corp.

U3O8 Corp. is a Toronto-based exploration company, focused on uranium
exploration and resource expansion in South America – a promising new
frontier for uranium exploration and development. U3O8 Corp. has one of
the most advanced portfolios of uranium projects in the region comprising
NI 43-101 compliant resources in Guyana to significant historic resources
in Colombia and near-resource and discovery potential in Argentina.

Additional information on U3O8 Corp. is available on the company’s web
site at www.u3o8corp.com.

Forward-Looking Statements

Certain information set forth in this news release may contain
forward-looking statements that involve substantial known and unknown
risks and uncertainties. These forward-looking statements are subject to
numerous risks and uncertainties, certain of which are beyond the control
of U3O8 Corp., including, but not limited to, the impact of general
economic conditions, industry conditions, volatility of commodity prices,
risks associated with the uncertainty of exploration results and
estimates and that the resource potential will be achieved on exploration
projects, currency fluctuations, dependence upon regulatory approvals,
and the uncertainty of obtaining additional financing and exploration
risk. Readers are cautioned that the assumptions used in the preparation
of such information, although considered reasonable at the time of
preparation, may prove to be imprecise and, as such, undue reliance
should not be placed on forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.

Contacts:
U3O8 Corp.
Nancy Chan-Palmateer
Vice President, Investor Relations
(416) 868-1491
nancy@u3o8corp.com

U3O8 Corp.
Richard Spencer
President & CEO
(416) 868-1491
richard@u3o8corp.com

Copyright 2010, Market Wire, All rights reserved.

Filed Under: International News Tagged With: , , , , , , , , , , , , , , , , , , ,

New CFO at Vitrolife

May 6, 2010 By Leave a Comment

STOCKHOLM, Sweden–(Business Wire)–
Regulatory News:

Anne-Lie Sveder has been appointed as the new Head of Vitrolife`s Accounting and
Finance department and Investor Relations. Anne-Lie Sveder is today working as a
chartered accountant and director at accounting firm PricewaterhouseCoopers AB,
mainly with companies which are related to the stock market and / or
international activities.

Anne-Lie Sveder will assume her new position during the month of August and will
then replace Eva Nilsagård, Vitrolife`s CFO, who has decided to terminate her
employment at Vitrolife. Eva will begin to work at Volvo Penta AB as Manager
Parts & Accessories and Dealer Development, Region Europe. Eva Nilsagård will
terminate her employment at Vitrolife in the end of August.

May 5, 2010
Gothenburg, Sweden
Magnus Nilsson, CEO

Vitrolife is a global biotechnology/medical device Group that works with
developing, manufacturing and selling advanced products and systems for the
preparation, cultivation and storage of human cells, tissue and organs. The
company has business activities within three product areas: Fertility,
Transplantation and Stem Cell Cultivation.

The Fertility product area works with nutrient solutions (media),
cryopreservation products and advanced consumable instruments such as needles
and pipettes, for the treatment of human infertility. The Transplantation
product area works with solutions and systems to evaluate and maintain organs
outside the body order to select usable organs and keeping them in optimal
condition while waiting for transplantation. The Stem Cell Cultivation product
area works with media and instruments to enable the use and handling of stem
cells for therapeutic purposes.

Vitrolife today has approximately 170 employees and the company`s products are
sold in more than 85 markets. The company is headquartered in Gothenburg,
Sweden, and there are subsidiaries in USA, Australia, France, Italy and Japan.
Production facilities are located in Sweden and USA.

The Vitrolife share is listed on NASDAQ OMX Stockholm, Small Cap.

Vitrolife AB (publ), Box 9080, SE-400 92 Göteborg, Sweden. Corporate identity
number 556354-3452.
Tel: +46 31 721 80 00. Fax: +46 31 721 80 99. E-mail: info@vitrolife.com.
Website: www.vitrolife.com.

Vitrolife is required to publish the information in this press release in
accordance with the Swedish Securities Market Act and/or the Financial
Instruments Trading Act. The information was submitted for publication on
Wednesday May 5, 2010 at 6:30 am CET.

This is a translation of the Swedish version of the notice. When in doubt, the
Swedish wording prevails.

This information was brought to you by Cision http://www.cisionwire.com

Vitrolife
Magnus Nilsson, CEO, +46 31 721 80 61
or
Eva Nilsagård, CFO, +46 31 721 80 13

Copyright Business Wire 2010

Filed Under: International News Tagged With: , , , , , , , , , , , , , , , , , , ,

Lake Victoria Expands the Board of Directors

April 16, 2010 By Leave a Comment

GOLDEN, COLORADO, Apr 14 (MARKET WIRE) —
Lake Victoria Mining Company (OTCBB: LVCA) is pleased to welcome Mr. Ian
Shaw, a senior Chartered Accountant in Canada to the Company’s Board of
Directors, where he will also serve as Chairman of the Company’s Audit
Committee.

Mr. Shaw earned a Bachelor of Commerce Degree in 1964 from the University
of Toronto’s Trinity College, and in 1969 he obtained a Chartered
Accountant designation with Deloitte, Plender, Haskins & Sells, Toronto,
Canada. In 1993, after 18 years with Sherrit and Curragh, both producing
mining companies with multiple projects, he established Shaw & Associates
with the objective of providing corporate finance, regulatory reporting
and compliance services tailored to junior public exploration and mining
companies. The companies that Mr. Shaw has served include Metallica
Resources Inc., Black Hawk Mining Inc., Pelangio Mines Inc., Capital Gold
Corporation, Pangea Goldfields Inc., Weda Bay Minerals Inc., Gammon Lake
Resources Inc. and others. In addition to his directorship with the
Company he is currently a director of Pelangio Exploration Inc. and Chief
Financial Officer of both Richmond Minerals Inc. and Olivut Resources Ltd.

Speaking for Lake Victoria’s Board of Directors, Roger Newell the
President stated, “I am delighted Mr. Shaw is joining Lake Victoria. Mr.
Shaw will bring 35 years of accounting, financial and regulatory
experience along with wisdom related to perceptive and responsive
governance. These are cornerstone ingredients required to build and
advance Lake Victoria’s corporate profile. We look forward to working
closely with Mr. Shaw on the many corporate issues related to growth and
to increased share holder value.”

About the Company

Lake Victoria Mining Company, Inc. along with its wholly owned
subsidiary, Kilimanjaro Mining Company Inc.
(www.kilimanjarominingcompany.com) is working to create another gold mine
in the world famous Lake Victoria Greenstone Belt, Tanzania, East Africa.
Tanzania produced 1.75 million troy ounces of gold during 2007 and is the
3rd largest gold producer in Africa behind South Africa and Ghana.

Lake Victoria holds eleven prospective gold projects and five uranium
projects within its Tanzania property portfolio.

Disclaimer

This news release may contain forward looking statements, relating to the
Company’s operations or the environment in which it operates, which are
based on Lake Victoria Mining Company, Inc.’s operations, estimates,
forecasts and projections. These statements are not guarantees of future
performance and involve risks and uncertainties that are difficult to
predict, and/or beyond Lake Victoria Mining Company, Inc.’s control. A
number of important factors could cause actual outcomes and results to
differ materially from those expressed in these forward-looking
statements. Consequently, readers should not place undue reliance on such
forward-looking statements. Lake Victoria Mining Company, Inc. disclaims
any intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events or
otherwise.

Contacts:
Lake Victoria Mining Company, Inc.
Dr. Roger A. Newell
303-586-1390
info@lvcamining.com

Copyright 2010, Market Wire, All rights reserved.

Filed Under: International News Tagged With: , , , , , , , , , , , , , , , , , , ,

Greystar Resources Ltd.: Change of Senior Officer

April 9, 2010 By Leave a Comment

VANCOUVER, BRITISH COLUMBIA, Apr 08 (MARKET WIRE) —
Greystar Resources Ltd. (the “Company”) (TSX: GSL)(AIM: GSL) announces
following the selection of Steve Kesler as President and Chief Executive
Officer of the Company to lead the Company’s anticipated transition from
a gold exploration company to a gold production company that Tim Lallas
has resigned as Vice-President Finance, Administration and Chief
Financial Officer (“CFO”).

David Rovig commented, “We thank Tim for his contributions and we wish
him the best in his future endeavors.”

Rick Low, the current Director Finance of Greystar, has been appointed
interim CFO until a permanent successor is selected. Mr. Low is a
chartered accountant (1981) with over 29 years of international
experience. Before joining the Company, Mr. Low held the position of Vice
President Finance for Jinshan Gold Mines Inc.

The Company is currently conducting a search for a permanent successor
with demonstrated experience in major project financing and intends to
appoint a new CFO as soon as a suitable candidate is identified.

About Greystar Resources Ltd.

Greystar Resources Ltd. is a precious metals exploration and development
company that is currently completing a feasibility study on its wholly
owned, multi-million ounce Angostura gold-silver deposit in northeastern
Colombia. A positive prefeasibility study announced on March 25, 2009
envisions average annual production at Angostura of 511,000 ounces of
gold and 2.3 million ounces of silver over a 15 year mine life.

Forward-Looking Statements

Certain statements in this news release are “forward-looking” within the
meaning of Canadian securities legislation. They include statements about
future management and the Company’s anticipated transition from a gold
exploration company to a gold production company. Forward-looking
statements are necessarily based upon a number of estimates and
assumptions that, while considered reasonable by the Company, are
inherently subject to significant business, economic, competitive,
political and social uncertainties and other contingencies. Many factors
could cause the Company’s actual results to differ materially from those
expressed or implied in the forward-looking statements. These factors
include, among others, conclusions or realization of mineral resources,
the actual results of exploration activities, possible variations in ore
grade or recovery rates, fluctuations in the price of gold and silver,
risks relating to additional funding requirements, political and foreign
risks, production risks, environmental regulation and liability,
government regulation as well as other risk factors set out under the
heading “Risk Factors” in the Annual Information Form dated March 26,
2010 which is available on SEDAR at www.sedar.com. Investors are
cautioned not to put undue reliance on forward-looking statements due to
the inherent uncertainty therein.

Neither the Toronto Stock Exchange nor the AIM Market of the London Stock
Exchange has reviewed and neither accepts responsibility for the adequacy
or accuracy of this news release.

Contacts:
Greystar Resources Ltd.
Geoff Chater
Vice President
(604) 614-7830
info@greystarresources.com
www.greystarresources.com

Renmark Financial Communications Inc.
John Boidman
Investor Relations
(514) 939-3989 or (416) 644-2020
jboidman@renmarkfinancial.com

Renmark Financial Communications Inc.
Dan Symons
Investor Relations
(514) 939-3989 or (416) 644-2020
dsymons@renmarkfinancial.com
www.renmarkfinancial.com

London NOMAD Contact
NCB Stockbrokers Limited
Christopher Caldwell
+44 (0) 20 7071 5200
christopher.caldwell@ncb.ie

Copyright 2010, Market Wire, All rights reserved.

Filed Under: International News Tagged With: , , , , , , , , , , , , , , , , , , ,

Greystar Resources Ltd.: Change of Senior Officer

April 9, 2010 By Leave a Comment

VANCOUVER, BRITISH COLUMBIA, Apr 08 (MARKET WIRE) —
Greystar Resources Ltd. (the “Company”) (TSX: GSL)(AIM: GSL) announces
following the selection of Steve Kesler as President and Chief Executive
Officer of the Company to lead the Company’s anticipated transition from
a gold exploration company to a gold production company that Tim Lallas
has resigned as Vice-President Finance, Administration and Chief
Financial Officer (“CFO”).

David Rovig commented, “We thank Tim for his contributions and we wish
him the best in his future endeavors.”

Rick Low, the current Director Finance of Greystar, has been appointed
interim CFO until a permanent successor is selected. Mr. Low is a
chartered accountant (1981) with over 29 years of international
experience. Before joining the Company, Mr. Low held the position of Vice
President Finance for Jinshan Gold Mines Inc.

The Company is currently conducting a search for a permanent successor
with demonstrated experience in major project financing and intends to
appoint a new CFO as soon as a suitable candidate is identified.

About Greystar Resources Ltd.

Greystar Resources Ltd. is a precious metals exploration and development
company that is currently completing a feasibility study on its wholly
owned, multi-million ounce Angostura gold-silver deposit in northeastern
Colombia. A positive prefeasibility study announced on March 25, 2009
envisions average annual production at Angostura of 511,000 ounces of
gold and 2.3 million ounces of silver over a 15 year mine life.

Forward-Looking Statements

Certain statements in this news release are “forward-looking” within the
meaning of Canadian securities legislation. They include statements about
future management and the Company’s anticipated transition from a gold
exploration company to a gold production company. Forward-looking
statements are necessarily based upon a number of estimates and
assumptions that, while considered reasonable by the Company, are
inherently subject to significant business, economic, competitive,
political and social uncertainties and other contingencies. Many factors
could cause the Company’s actual results to differ materially from those
expressed or implied in the forward-looking statements. These factors
include, among others, conclusions or realization of mineral resources,
the actual results of exploration activities, possible variations in ore
grade or recovery rates, fluctuations in the price of gold and silver,
risks relating to additional funding requirements, political and foreign
risks, production risks, environmental regulation and liability,
government regulation as well as other risk factors set out under the
heading “Risk Factors” in the Annual Information Form dated March 26,
2010 which is available on SEDAR at www.sedar.com. Investors are
cautioned not to put undue reliance on forward-looking statements due to
the inherent uncertainty therein.

Neither the Toronto Stock Exchange nor the AIM Market of the London Stock
Exchange has reviewed and neither accepts responsibility for the adequacy
or accuracy of this news release.

Contacts:
Greystar Resources Ltd.
Geoff Chater
Vice President
(604) 614-7830
info@greystarresources.com
www.greystarresources.com

Renmark Financial Communications Inc.
John Boidman
Investor Relations
(514) 939-3989 or (416) 644-2020
jboidman@renmarkfinancial.com

Renmark Financial Communications Inc.
Dan Symons
Investor Relations
(514) 939-3989 or (416) 644-2020
dsymons@renmarkfinancial.com
www.renmarkfinancial.com

London NOMAD Contact
NCB Stockbrokers Limited
Christopher Caldwell
+44 (0) 20 7071 5200
christopher.caldwell@ncb.ie

Copyright 2010, Market Wire, All rights reserved.

Filed Under: International News Tagged With: , , , , , , , , , , , , , , , , , , ,

After being dumped, man kills Indian-origin lover

March 8, 2010 By Leave a Comment

LONDON: An Indian-origin accountant was killed by her former boyfriend who stabbed her 20 times after he found out that he had been dumped, a court was told here.

Camille Mathurasingh, 27 was knifed 20 times in the kitchen of her home in Bow, after her former boyfriend flew in from Trinidad to try to win her back, the jury was told at the Old Bailey.

Paul Bristol, 24, admits manslaughter but denies murder in April last year.

Mathurasingh was a chartered accountant who had worked for Deloitte at their Liverpool Street office here. She had previously worked for Pricewaterhouse Coopers in Trinidad.

She met Bristol in Trinidad and they became close, and their relationship continued when she came to Britain in summer 2008, Simon Denison, the state prosecutor told the court on Thursday.

“Emails up to the beginning of 2009 showed their affection to each other and they spoke of a future together,” said Denison.

However, with doubts in her mind about the future of their long distant relationship, she apparently decided to end the relationship with Bristol.

“She met a man here and started going out with him. It would appear she tried to bring about the end of the relationship with Bristol gently and didn’t tell him about her new boyfriend. He found out when he saw pictures of them together on Facebook,” he told the court.

Failing to accept that he had been dumped, Bristol decided to come to London to try and win her back.

Mathurasingh told her family that Bristol was harassing her and she did not want him to come to Britain.

“The day after he landed he went to her home. Only he can say what happened… and what led him to kill,” Denison said.

“He did so in frenzied attack with a knife, stabbing her 20 times in the neck, chest, back hip and leg, and she died on the floor of the kitchen.

“He stabbed himself too then got in her car and drove off dangerously along Mile End Road,” the court was told.

Bristol, who crashed, was taken to hospital and spoke to police, who found the body, the court heard.

Filed Under: International News Tagged With: , , , , , , , , , , , , , , , , , ,

Irfan Pathan and Shivangi Dev Marriage on Cards – Irfan Pathan and Shivangi Dev wedding soon

June 30, 2009 By Leave a Comment

Irfan Pathan and Shivangi Dev Marriage on Cards – Irfan Pathan and Shivangi Dev wedding soon

Indian allrounder Irfan Pathan will marry long-time girlfriend Shivangi Dev, reports Times of India. Shivangi, works as a chartered accountant and a dance teacher in Australia.

Irfan Pathan, first met Shivangi Dev in Canberra, Australia during a practice match in 2003, and fell in love at first sight.

Marriage date and venue has not yet been finalised.

Filed Under: International News Tagged With: , , , , , , , , , , , , , , , , , , , , , , , , ,

Advani raises poll pitch, targets Congress

April 17, 2009 By Leave a Comment

New Delhi, Apr.17 (ANI): The Bharatiya Janata Party’s (BJP) Prime Ministerial candidate L K Advani today demanded that the UPA Government should make efforts to bring back the black money deposited by Indians in foreign banks and also raise the issue at an upcoming G-20 meet.

Advani, who was unveiling a report of a four-member task force of the party formed to look into the issue of Indian black money in foreign banks, said it was more dangerous than the black money circulated inside the country.

He said as the National Security Advisor himself had pointed out, the black money from outside the country finds way into the Indian market as “terror money”.

He also demanded that the government should raise the issue of black money in the G-20 meet scheduled on April 25.

The four-member task force appointed by the BJP leadership to look into the issue comprises chartered accountant S Gurumurthy, Prof Vaidyanathan of IIM Bangalore, security expert Ajit Doval and lawyer and BJP Lok Sabha nominee Mahesh Jethmalani. (ANI)

Filed Under: International News Tagged With: , , , , , , , , , , , , , , , , , , ,

Battling the boom

April 8, 2009 By Leave a Comment

A GROUP of anxious women peers down a 40-feet-deep well. It’s bone dry, just like the other one built nearby.

A steel company built the wells in Deojhar village last year as compensation for taking over the community water bodies for an iron ore plant. “We haven’t seen water in these wells all year,” says 30-something Kanika Naik, shading her face from the scorching sun.

“We have to fetch water from three kilometres away.” About 290 kilometres north of the state capital of Bhubaneswar, Deojhar in Keonjhar district is in the centre of the great mining rush that has fired India’s economic engine over the past five years.

India’s iron ore exports have surged to an all-time high of over 100 million tones a year, most of it feeding China’s steel plants, which in turn have kept world prices for minerals high. India also tripled its imports of steel, visible in the sleek facades of malls and apartment blocks across cities.

But while China has begun a national debate on the ecological costs of their economic growth, India isn’t there yet. The great boom in mining – companies pay a royalty to the state of Rs 26 per tonne of iron ore, selling it for over 100 times that, or an average of Rs 3,000 – means profits run into the crores.

And there is every incentive to ensure the rules don’t get in the way. The disregard is apparent in the 4-kilometre long queue of trucks headed out of the district via National Highway 215.

As they inch towards the state’s ports with their cargo of ore, they cause traffic jams that can last for days, freezing all other movement. But they continue to ply, despite a local administrative ban on their movement during the March school exams.

“It’s a classic loot-and-scoot scenario,” says chartered accountant-turned-environmentalist Biswajit Mohanty of the Wildlife Society of Orissa. “There is a mad rush for profit without any debate about the consequences.

” Keonjhar, for instance, is an overwhelmingly tribal district with several dense sal forests that are reserved and protected on paper. But officials have opened up close to 4,000 hectares of forest land for mining since 2000.

That’s more than the 3,200 hectares opened up in the previous 20 years. In a shabby Forest Department office, whose tables are piled high with more applications by mining companies, languid officials decline comment.

Using the Right to Information Act, Mohanty found that mining companies had bought vehicles for the Forest Department, ostensibly to be used to check on compensatory afforestation programmes. Only, the vehicles have never left the state capital.

“If you ride around in vehicles purchased by the mining companies, you have compromised your independence,” says Mohanty. As regulations fail, on the ground, individuals are left to fight a losing battle.

In a spare office at the district bar association, lawyer Sudhanshu Panda brings down files outlining alleged violations by mining companies – everything from plagiarised environmental impact reports to burning of forests to polluting of local rivers. Panda has filed over 100 cases, including several against rash driving that caused 645 road deaths in 2006.

“The mining boom has resulted in a total disregard for the rules,” he says. “There is money flying around and everyone wants a share.

” Back in Deojhar, farmer Sridhar Naik’s life typifies the mixed fallout of mining. His son works as a driver at a plant being set up in the area.

But Naik’s 2-acre farm has been rendered infertile because of the open dust from the mining around him. “Three years ago, the paddy crop just stopped growing,” he says, watching an army of JCBs eat into the hill above his fields.

“I have been a farmer all my life. Now I don’t know what to do.

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‘RTI on Wheels’ Completes One Year On March 17

March 20, 2009 By Leave a Comment

‘RTI on Wheels' Completes One Year On March 17 A mobile multi-media van ‘RTI on Wheels’, which was launched to make people aware about the Right to Information (RTI) Act in remote areas, has completed a year in the state on March 17.

The Gujarat State Information Commission, Sardar Patel Institute of Public Administration (SPIPA) and Mahiti Adhikar Gujarat Pahel (MAGP) jointly launched ‘RTI on Wheels’ in 2008.

In a period of 12-months, RTI on wheels reached about 80,000 people in 450 villages and 13 cities.

The mobile van has been fitted with audio-visual equipment plus Internet service to help its skilled volunteers to help provide proper information to people, and work out their queries.

Despite video shows and debates in the field, the mobile van also acts as a mobile legal clinic in order to help people draft applications, petitions and grievances.

The mobile van has also gone outside Gujarat, and visited nearest states of Maharashtra and Rajasthan during the last year.

In Mumbai and Pune, it was invited by Public Concern or Governance Trust and Bombay Chartered Accountant’s Association.

In Rajasthan Majdoor Kissan Shakti Sangathan invited it for conducting awareness campaigns in Bhilwada, Udaipur and Alwar districts.

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Government nominates three new directors on Satyam board

January 15, 2009 By Leave a Comment

New Delhi, Jan.15 (ANI): The Government today announced the nomination of three more directors to the board of Satyam Computer Services.

In a statement issued here, Minister of Corporate Affairs Prem Chand Gupta said that Tarun Das, Chief Mentor of CII, T. N. Manoharan, an eminent chartered accountant, and Suryakant Balkrishna Mainak of the LIC, have been nominated to the Satyam Board of Directors.

He also said that Satyam has secured the services of Kiran Karnik, Dr. Deepak Parekh and C. Achutan also.

He said that the investigation of Satyam has been entrusted to SFIO and the officers of SFIO have already started their job. They have been asked to submit their report within three months, he added.

He said that the Board of Satyam has already engaged the services of two reputed Audit firms namely Deloitte and KPMG to look into the accounts of Satyam.

He said that the first impression from the government-nominated directors about the company was that its operations are sound and by and large major customers are willing to remain with the company. (ANI)

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