End of ECB funding programme will be fine -Noyer

July 1, 2010 By Leave a Comment

June 29 (Reuters) – The European Central Bank will do everything necessary to make sure that the expiry of a 442 billion euro funding programme this week passes without problem, ECB Governing Council member Christian Noyer said on Tuesday.

“The ECB and Eurosystem will do what is necessary to make sure the liquidity is there,” Noyer told Europe 1 radio.

He said French banks should not face problems repaying loans, but added that some other banks might “suffer”.

“We will make sure that there are no problems and everything goes OK,” he added. (Reporting by Crispian Balmer; editing by James Mackenzie)

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Bank of France boss says deficit targets realistic

June 14, 2010 By Leave a Comment

June 13 (Reuters) – Bank of France Chairman and European Central Bank governing council member Christian Noyer on Sunday said France’s target of bringing its budget deficit to 3 percent of GDP by 2013 was realistic.

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“I am totally confident in the fact that it is possible to get there,” Noyer said in an interview on France 5 television and RFI radio.

Noyer’s comments come after French Prime Minister Francois Fillon on Saturday pledged to lower the country’s budget deficit to the EU target of 3 percent by 2013 from its current level of 8 percent. (Reporting by Astrid Wendlandt)

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ECB’s Orphanides: Inflation not a concern -press

June 14, 2010 By Leave a Comment

June 13 (Reuters) – Inflation in the euro zone is not a worry despite the slightly higher forecasts in the recent European Central Bank staff projections, Governing Council member Athanasios Orphanides was quoted as saying on Sunday.

Orphanides also told the Dow Jones news agency that once the European Union’s facility to help troubled members is in place, the need for the ECB to buy bonds might end as those market segments would probably improve.

“The upward revision in the inflation forecast is primarily driven by energy and other commodity price increases. It does not reflect an underlying inflation concern,” Orphanides said in an interview with Dow Jones.

“Indeed, core inflation in the euro area has been trending down. In light of these developments, I do not view high inflation as a concern.”

Inflation expectations also remained well anchored, he said.

Orphanides also commented on the ECB’s Securities Markets Programme, through which it is buying bonds in segments hit particularly hard, indicating the ECB could end this soon, if the European Union rescue package calms markets.

“I could envision that, when the European Financial Stability Facility is fully operational, there will be improvements in the market segments that have not been functioning well over the past several weeks,” he said.

“Clearly, once these improvements are in place, there would no longer be a need to continue with a specific program. (Reporting by Sakari Suoninen; Editing by Louise Heavens)

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Euro here to stay, ECB independent – ECB’s Draghi

June 12, 2010 By Leave a Comment

June 11 (Reuters) – There is no possibility of turning back from the euro currency and the independence of the European Central Bank cannot be doubted, ECB governing council member Mario Draghi said on Friday. “People have to understand that the euro is (here) to stay … there is no turning back,” Draghi told reporters on the sidelines of a seminar in Helsinki, reiterating comments he made in a keynote speech in Rome at the end of May.

Draghi, who is governor of the Bank of Italy, also dismissed suggestions the ECB’s independence had been undermined by its recent decision to buy euro zone government bonds.

“The ECB’s independence has never been in question,” he said.

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A big boost for liberal arts in the city

June 6, 2010 By Leave a Comment

Mumbai, June 6 — With St. Xavier’s College becoming the first autonomous institute in the city, there is more hope for Mumbai to finally house a hub of world-class excellence, especially in the field of liberal arts.

While Kolkata boasts of Presidency College and Delhi of St. Stephen’s, in Mumbai the outdated syllabus and evaluation patterns of the Mumbai University curtail academic growth no matter how good an institution is, say academicians.

“St. Xavier’s has already taken the lead in humanities and now new blood will flow into their courses,” said former vice chancellor Rupa Shah.

“It also has the faculty with the drive and dedication to create elite syllabi with an out-of-the-box approach.” But will mere academic freedom, with the same financial restraints of fees and salary, allow radical change in an institution? “It is definitely a start.

All institutions want academic freedom to excel,” said Abhay Pethe, head of the Mumbai University’s economic department, which was the first department to gain autonomy three years ago. “There are several financial incentives that become easier to access once you get autonomy.

For example, you can start new self-financing courses or donations from alumni. Under a university, approving these things take longer,” added Pethe.

The University Grants Commission also encourages autonomy and provides several incentives to autonomous institutes. Since the university method was introduced eons ago, it was meant for fewer affiliations, but now it has become unwieldy.

It grants autonomy for six years during which institutes can avail themselves of several grants. So, why aren’t more city colleges opting for autonomy? HR College gained autonomy in 2007 but has not yet exercised it.

Ruia College had applied for autonomy in the 1970s and again recently but the application is still with the university. One reason could be a clause about the governing council of an autonomous institute in the Maharashtra Universities Act.

“The 11-member council has only five members from the college management. So, from having total control the management will become a minority,” said an educationist, who did not wish to be named.

Academic autonomy also has its downsides.

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Manohar hits out at Modi

June 6, 2010 By Leave a Comment

Mumbai, June 5 — Board of Control for Cricket in India (BCCI) president Shashank Manohar hit out at suspended Indian Premier League (IPL) boss Lalit Modi on Saturday, saying he was trying to ‘malign the image’ of the Board and interim IPL chairman Chirayu Amin by alleging that Amin was part of the failed bid for the Pune IPL team. Manohar alleged that Modi himself had asked the bidders to get Amin to be part of the consortium.

After reports emerged on Friday of NCP chief Sharad Pawarar’s possible links with the IPL, Modi had defended Pawar and claimed that Amin was part of the consortium led by City Corporation’s Aniruddha Deshpande, who bid for the team. Deshpande is Pawar’s close aide.

Manohar said, “The truth is that it was Mr Modi himself who sent a message to the Pune franchisees through Mr Ajay Shirke, President, MCA (Maharashtra Cricket Association), asking them to contact Mr Amin and ask him to be a part of the consortium.” Modi, who has already charged Manohar and BCCI secretary N Srinivasan with bias in the ongoing inquiry into his running of the IPL, had further alleged on Friday that Manohar had neither informed him nor the IPL Governing Council about Amin’s letter seeking permission to be part of the consortium.

Making Amin’s March 17 letter public, Manohar said Amin had informed the BCCI that he would make an investment of up to 10 per cent if he joined the consortium. Amin had also stated that if City Corp won the bid, he would seek formal sanction from the Board to invest, Manohar pointed out.

“First and foremost, Mr Amin’s letter was not for asking permission to bid

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Deshpande denies keeping IPL in dark about ”individual bid”

June 6, 2010 By Leave a Comment

New Delhi, Jun 6 (PTI) The twists and turns in the Pune bid row continued today with City Corporation MD Aniruddh Deshpande refuting allegations that he kept the IPL in dark about his “individual bid” for the franchise but conceded that the company”s name was used in his bid documents. Deshpande”s denial comes in the wake of media reports that the Pune-based Real Estate firm City Corporation had authorised him to bid on the company”s behalf in a January board meeting.

The firm, in which Agriculture Minister Sharad Pawar”s family has 16 per cent equity, had earlier denied being part of the bid but BCCI President Shashank Manohar yesterday rejected its claim, saying the failed bid came in the company”s name. Deshpande said he had told the IPL that he would float a new company after winning the bid, which was eventually clinched by the Sahara Group.

Deshpande said the City Corporation allowed him to use the company”s name on the documents as very little time was left for the bids to open. “All the documents were in the company”s name and a letter to that effect was also submitted to the IPL Governing Council on March 21 before the bid.

I told them that the stakeholders will change if we are successful bidders,” Deshpande said. “Since we were not successful bidders, nothing further had to be done,” he added.

City Corporation”s involvement had been vehemently denied by Pawar and his Parliamentarian daughter Supriya Sule. The duo had said that the Pawar family was not involved in any bidding process but had admitted that Deshpande was allowed to go ahead in his “individual capacity”.

Deshpande said the company”s Board backed out of bidding for the team after a March 17 meeting where a fresh resolution allowing him to go ahead individually was passed. .

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Govt. awaiting a response from ULFA for talks: Pillai

June 4, 2010 By Leave a Comment

Shillong (Meghalaya), June 4 (ANI): Union Home Secretary G K Pillai on Friday said the Central Government is awaiting a response from the banned United Liberation Front of Asom (ULFA) outfit after which the dialogue process might evolve.

“I understand that the Governing Council of the ULFA was held inside jail a few days back. They are discussing. We are awaiting a response, and as the response comes, the dialogue process will evolve,” said Pillai.

The members of the banned ULFA outfit appealed to the government to free its jailed leaders, so as to take a final decision on the proposed peace talks.

Welcoming the Assam Government”s decision on holding peace talks, the outfit”s Publicity Secretary Mithinga Daimary, said in a statement that his organisation never favoured a negotiation without its leader Paresh Baruah.

The development came after Union Home Minister P Chidambaram authorized Assam Chief Minister Tarun Gogoi to initiate the dialogue.

Gogoi has reiterated that his government is ready to hold a dialogue with the ULFA leaders on all issues within the ambit of the Indian Constitution.

“The process has been initiated by the Government of Assam. Let them (ULFA) say. The process cannot be rushed,” Pillai said.

“A majority of members of the ULFA”s Governing Council are there. A couple of them are not there .We will welcome them for the talks,” he added.

Pillai further said the people of Assam want a dialogue to resolve the issue.

“If leaders outside indulging in violence listen to the voice of Assam, they will come forward for talks,” he said.

“Leaders outside will realize the futility of violence which is causing suffering to the people of Assam. If they are for the people of Assam, which they pretend to be, they will come forward for talks, if not today, then tomorrow,” Pillai added.

Earlier on May 28, ULFA Publicity Secretary Mithinga Daimary and Vice Chairman Pradip Gogoi, who were recently released on bail, had met Chairman Arabinda Rajkhowa at the Guwahati Central Jail.

The meeting reportedly discussed the Government”s peace talk offer. (ANI)

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CORRECTED – CORRECTED-FACTBOX-ECB Governing Council: Who’s Who?

June 3, 2010 By Leave a Comment

June 2 (Reuters) – Vitor Constancio started as the European
Central Bank’s vice-president on Tuesday, succeeding Lucas
Papademos and taking over his responsibility for financial
stability.

Following is a who’s who of policymakers on the ECB’s
Governing Council, which sets policy and decides on interest
rates for the countries using the single currency.

The Governing Council consists of the six Executive Board
members, plus national central bank governors from each of the
16 euro zone countries.

The six Executive Board members are appointed by EU leaders
and are responsible for the day-to-day running of the
Eurosystem.

EXECUTIVE BOARD

JEAN-CLAUDE TRICHET

Born: Dec. 20, 1942, Lyon, France

In office since: Nov. 1, 2003

Term ends: Oct. 31, 2011

Title: President

Responsibilities on Executive Board: communications,
internal audit, secretariat and language services.

Background: As Bank of France Governor (1993 to 2003),
Trichet pressed for government budget discipline, fending off
politicians and top businessmen used to bossing the central bank
around. He also copied the German Bundesbank’s anti-inflation
policies. This won him market respect and brought credibility to
the French currency, earning Trichet the nickname “Ayatollah of
the strong franc”.

Trichet studied civil engineering and holds a master’s
degree in economics. He followed a traditional political career
after attending the elite Ecole Nationale d’Administration (ENA)
which has trained generations of French presidents, ministers
and civil service mandarins.

He rose to head the French Treasury in 1987 before becoming
Bank of France governor in September 1993. Trichet gathered
experience as an international financial policymaker during
those years, holding posts at the International Monetary Fund,
the World Bank and the Paris Club that coordinates sovereign
debt restructuring.

VITOR CONSTANCIO

Born: Oct. 12, 1943

In office since: June 1, 2010

Term ends: May 31, 2016

Title: Vice President

Responsibilities on Executive Board: financial stability and
administration

Background: Constancio headed the Bank of Portugal for 10
years before moving to the ECB, and developed a reputation as an
inflation dove who often emphasised the need for economic
growth.

A qualified economist, he has a background in politics and
started his public career as the budget secretary in the first
provisional government after Portugal’s leftist 1974 revolution,
and briefly served as finance minister in 1978. Constancio then
led the Socialist party in 1986-88.

Constancio also has experience in the private sector. Before
his Bank of Portugal appointment in 2000, he had held the post
of executive director in Banco Portugues de Investimento, now
known as Banco BPI (BBPI.LS) — the country’s third-largest
listed bank. Constancio graduated from the prestigious Lisbon
Technical University’s Superior Economics and Management
Institute.

JOSE MANUEL GONZALEZ-PARAMO

Born: Aug. 9, 1959, Madrid, Spain

In office since: June 1, 2004

Term ends: May 31, 2012

Title: Executive Board member

Responsibilities on Executive Board: banknotes, research and
market operations

Background: Gonzalez-Paramo is a budgetary hawk with a
reputation for economic orthodoxy and has strong academic
credentials. Until joining the ECB he divided his time between
the Bank of Spain, where he has been an executive board member
since 1998, and the Complutense University, where he has been
professor of public finance since 1988.

Gonzalez-Paramo has a doctorate in economics from New York’s
Columbia University, where he was a Fulbright scholar.

LORENZO BINI SMAGHI

Born: Nov. 29, 1956, Florence, Italy

In office since: June 1, 2005

Term ends: May 31, 2013

Title: Executive Board member

Responsibilities on Executive Board: International and
European Relations, legal services and the new ECB premises.

Bini Smaghi was seen as a pragmatist when he succeeded
fellow Italian Tommaso Padoa-Schioppa in 2005. An easy
communicator, he has a more approachable manner than is normal
for central bankers and is well known to Italian journalists.

Bini Smaghi has a doctorate in economics from the University
of Chicago and worked at the ECB in 1998 as deputy director
general for research. Before that he spent four years at the
European Monetary Institute, the ECB’s forerunner. There he was
in charge of preparing the ECB’s bank supervision, payment
systems and market intervention arrangements.

From 1998 to 2005 he was Italy’s finance deputy for the
Group of Seven industrial nations and vice president of a
committee which prepares the agenda for monthly meetings of euro
zone finance ministers.

GERTRUDE TUMPEL-GUGERELL

Born: Nov. 11, 1952, Kapelln, Austria

In office since: June 1, 2003

Term ends: May 31, 2011

Title: Executive Board member

Responsibilities on Executive Board: Human resources, budget
and organisation, payment systems and market infrastructure.

Background: Tumpel-Gugerell is a career central banker, who
joined the Austrian central bank in 1975, while also spending
stints at the IMF and as a government adviser. She holds a
doctorate in economics and social sciences from the University
of Vienna.

She became vice governor of the Austrian central bank in
1998. At the ECB she has been a passionate advocate of
integrating the European payment and financial systems.

JUERGEN STARK

Born: May 31, 1948, in Gau-Odernheim, Rhineland-Palatinate,
Germany.

In office since: June 1, 2006

Term ends: May 31, 2014

Title: Executive Board member

Responsibilities: economics, information systems and
statistics

Background: A forceful advocate of following Maastricht
Treaty rules, he argues for budget discipline and strict
adherence to price stability. He is viewed as an inflation
hardliner who helps keep the Bundesbank monetarist tradition
alive at the ECB.

Named Bundesbank vice president in 1998, he has broad
experience in international issues working as its advance man
for G7 meetings, works on the EU’s economic and finance
committee and sits on the ECB’s international relations
committee. He also sits on the Financial Stability Forum, which
monitors global financial risks.

Stark has a doctorate in economics and joined the German
economics ministry in 1978 and then the finance ministry before
he became a central banker.

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Trichet: ECB not favouring French banks -TV

June 1, 2010 By Leave a Comment

May 31 (Reuters) – There are no grounds to claim that the European Central Bank’s bond-buying programme would benefit especially the French banks, ECB President Jean-Claude Trichet said on Austrian television.

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When asked about German reports that the ECB enables above all French banks to get rid of their holdings of Greek government bonds, Trichet told Austrian national television ORF: “It’s absolutely false. All our decisions were made by the Governing Council to ensure the proper transmission of monetary policy.”

Trichet also repeated the ECB would not compromise on its price stability goal. (Reporting by Sakari Suoninen; Editing by Leslie Adler)

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ECB’s Weber says EU needs stronger aid oversight

June 1, 2010 By Leave a Comment

May 31 (Reuters) – The European Union needs stricter mechanisms for monitoring member states that receive financial aid from others, and a bankruptcy procedure should be looked at, European Central Bank Governing Council member Axel Weber said.

“In the case of support, it is necessary to have procedures that ensure a member state implements the necessary measures and does not consciously accept a danger to the union,” Weber said in a copy of a speech to be delivered in Mainz on Monday.

“To strengthen preventative measures against such a case, an insolvency arrangement should be seriously examined,” he added. (Reporting by Brian Rohan and Madeline Chambers)

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Manohar pushed Kochi bid, Srinivasan attempted to ‘fix’ match: Modi

May 26, 2010 By Leave a Comment

In a fresh development, suspended Indian Premier League (IPL) chairman Lalit Modi has made strong allegations against the BCCI President Shashank Manohar and Secretary N Srinivasan, and asked the duo to exclude themselves from the proceedings of the show-cause notice served on him by the cricket board on April 26.

He has also asked the board to appoint an independent body to look into the issue. In a long email sent to the IPL governing council Tuesday evening, Modi has alleged that Manohar and Srinivasan were party to all the developments, including the drafting of the tender documents inviting bids for the two new IPL teams this year, the contract between broadcaster Multi Screen Media Pvt Ltd and sports marketing company WSG.

Giving the ongoing battle an interesting twist, Modi has insinuated in his letter that Manohar manipulated the entire bidding process to make sure that the two new franchisees go to the Sahara Group and the Kochi consortium.

“… the ITT (invitation to tender) itself was drafted by the corporate lawyers of BCCI and approved by the in-house counsel Akhila Kaushik, who also happens to be an ex-junior of your father Honorable Mr. VR Manohar and also your confidante having been appointed on your recommendation,” he has said in his email.

He has said the criteria of net-worth of the bidder being $1billion and deposit was specifically discussed between him and Manohar and it was confirmed by Manohar in the meeting of the Governing Council held on March 7. He has described the sequence of the entire bidding, cancellation and the re-bidding process as follows: Till 5th March 2010, which was the deadline for submission of bids, only two bids had been received from Videocon and the Adanis. After the deadline for submitting bids, late in the evening and into the night of March 5 and the morning of March 6, he received calls from former minister of state for foreign affairs Shashi Tharoor and his Secretary Jacob, informing him that a third bid was coming from Delhi.

On March 7 evening, he has said in his email, he was sitting with Manohar at the Four Seasons hotel where a representative of the Kochi franchise came to submit the bid, which Manohar asked him to accept but it could not be accepted because of some technicalities.

Modi has further alleged that because Manohar could not ensure the inclusion of the Kochi bid, he unilaterally decided to cancel the bid process. Modi has said Manohar, then, used his phone to call two executives from the Sahara Group and Dainik Jagran group and asked them to send protest letters seeking a fresh bidding process.

Modi has made allegations against Srinivasan as well. These include using his influence to appoint umpires of his choice, among others. Srinivasan’s attempt to appoint umpires of his choice for a Super Kings’ match, Modi said, was a clear attempt at umpire fixing/match fixing.

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Modi’s voluminous reply virtual chargesheet against GC members

May 16, 2010 By Leave a Comment

New Delhi/Mumbai, May 15 (IANS) Lalit Modi, the suspended chairman and commissioner of the Indian Premier League (IPL), is believed to have put its entire Governing Council (GC) in the dock in his reply Saturday to the showcause notice slapped on him by the Board of Control for Cricket in India (BCCI).

Modi, in his reply, supported by tomes of documents running into over 9,000 pages, is a virtual chargesheet against all his GC colleagues, as reported by IANS Friday, and it turns the tables on his principal opponents in the Board as well.

Ever since the controversy broke out after he tweeted the names of IPL’s newest franchise Kochi, Modi has maintained that all decisions were taken with the concurrence of the entire GC and he might have carried the argument forward in his reply to say that if he was guilty of any wrongdoing, then all his comrades are as much guilty in okaying hem.

Modi’s reply was collated by three highly reputed companies of solicitors and a battery of lawyers headed by legal luminaries like Ram Jethmalani and Harish Salve. It was submitted to the Board by Modi’s lawyer Mehmood Abdi.

The Modi camp wants an independent panel to go through his reply, not any GC or Board member who is party to the decisions as that amounts to sitting in judgment over their own decisions.

Modi’s reply, packed sleekly in six cartons and delivered at the BCCI Cricket Centre headquarters in Mumbai, contains close to two lakh SMSs exchanged between GC members and him, thousands of e-mails, agenda papers and the minutes of the meetings, revealing the names of all those who attended and appended their signatures to the decisions.

Modi may have also demanded in the reply that an independent committee to sit in judgment over his reply, not anyone from the GC as they are all party to every decision he has taken.

Based on the reply, Abdi is confident all charges against Modi will be dropped.

‘The charges were based on allegations and gossip. BCCI can never prove its allegations. We are confident that all the charges against Modi will be dropped. In fact, BCCI president Shashank Manohar is an well-known lawyer and it will take him few hours to go through the reply. It can be done even today,’ said Abdi.

When asked to reveal the contents, Abdi said: ‘It is for BCCI to share the reply with you. But there are some interesting perspectives of the issues and controversies.’

A Board member, who till Friday argued that the suspended IPL commissioner did everything single-handedly, said Saturday on condition of anonymity: ‘If what Modi seeks to prove is correct, then the entire GC is guilty of abetment and they, too, should be suspended along with him.’

‘Going by what Modi has been hinting at from time to time, it is now clear that the decisions were involuntary for the GC members, including the three former India captains, to back off. In any case, how can any GC member sit in judgment as part of disciplinary/standing committee over his own decision?’ the member asked while speaking to IANS Saturday night.

‘The law doesn’t make exceptions for the ignorant’, he added.

Modi questioned the Board basing its chargesheet on unsubstantiated allegations, complaints and innuendos like the Kochi agreement being signed only after a directive from the Board chief, some of the deals being finalised without the knowledge of the IPL Governing Council and his holding proxy stakes in three IPL franchises.

Modi also questioned the veracity of the information supplied by a ‘reliable source,’ saying the Board has come up with ‘fiction’ to justify its charges against him, giving the information a ‘privileged and confidential’ garb.

BCCI secretary N. Srinivisan brought the very public e-mail exchanges with Modi to an end by assuring him that he could reply only on the ‘basis of the facts and documents, which have been referred to’ him in the chargesheet and not on any other material.

Modi, who was to submit his reply Monday, had sought a five-day extension and Manohar agreed to it.

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Modi’s lawyer to submit show-cause reply

May 16, 2010 By Leave a Comment

Mumbai, May 15 (IANS) Lalit Modi, suspended chairman and commissioner of the Indian Premier League (IPL), will not personally submit his reply to the chargesheet slapped on him by the Board of Control for Cricket in India (BCCI).

In an e-mail to BCCI secretary N. Srinivasan, Modi said his lawyer Mehmood M. Abdi would deliver the reply to the show-cause notice with relevant documents at the BCCI headquarters at Wankhede Stadium here Saturday between 2.30 and 3.30 p.m.

Modi requested Srinivasan to depute some authorised person to ‘receive and acknowledge the documents by providing adequate receipt.’

Modi was earlier considering handing over the reply personally if the Board chief or the secretary were there to receive it.

The chargesheet, giving him 15 days to reply, was served on Modi April 26 after he was suspended at midnight soon after the IPL final. The BCCI later agreed to give Modi time to reply till Saturday.

The showcause lists charges of financial irregularity, but Modi has maintained that all decisions were taken collectively by the IPL Governing Council.

The five main charges against Modi include receiving kickbacks for allotting TV broadcast rights and manipulating bids.

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Chairman Dr. Pachauri under the scanner as review of IPCC workings opens

May 14, 2010 By Leave a Comment

Amsterdam (The Netherlands), May 14 (ANI): A review into the workings of the Intergovernmental Panel on Climate Change (IPCC) is starting in Amsterdam.

IPCC chairman Rajendra Pachauri will be the first person to appear before the panel when it begins on Friday, and is expected to outline the organization”s rules and procedures.

Dr Pachauri is also under the scanner over some of his consultancy work, although an investigation in March by auditors KPMG cleared him of financial irregularities.

“Dr Pachauri is in a very difficult position, because some of the most vociferous critics of the IPCC hold him personally responsible for the panel”s perceived failings,” said Mr. Ward.

“Such critics are unlikely to be satisfied by anything other than Dr Pachauri”s departure,” he added.

According to the BBC, the review has been demanded by governments and commissioned by the UN, following allegations that the IPCC made a series of errors in its major 2007 report. The review was demanded during the February meeting of the UN Environment Programme (UNEP) governing council.

The IPCC has admitted to one error, concerning the melting date of Himalayan glaciers, but robustly rebuts the wider charge.

The review panel was set up by the Inter-Academy Council, which comprises bodies such as the UK”s Royal Society.

“I”ve read many many comments about the IPCC and I”ve talked to people inside and outside the organization,” said Robbert Dijkgraaf, co-chair of the Inter-Academy Council.

“They feel the issue of climate change is so important that it really needs robust scientific counsel.
“The IPCC has grown in importance and it”s a very good time and a good opportunity to look at its management structure and its processes,” he told BBC News.

Dr. Dijkgraaf said the panel would be looking to draw on different shades of opinion over the next few months.

The panel”s costing of natural disasters has also come in for criticism

Ministers felt allegations about IPCC errors were undermining the body”s reputation and with it the reputation of its conclusions, on which many governments have based their climate policies.

Subsequently, UN Secretary-General Ban Ki-moon asked the Inter-Academy Council to run the review.

The council is independent of the UN, and has the capacity to select from among the world”s top academics.

Dr. Dijkgraaf suggested Dr. Pachauri”s position was not an issue for the review, and pointed out that the IPCC had itself asked for an independent review.

The 12-strong review panel spans the physical and biological sciences and economics, and is drawn from the developed and developing worlds.

Its final recommendations will be presented to the IPCC in October, during a meeting aimed at finalizing structures and procedures for its next major evaluation of climate science and economics, due to conclude in 2013. (ANI)

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Ex-BCCI chief moves apex court against office bearers stake in IPL

May 8, 2010 By Leave a Comment

Chennai, May 8 (ANI): Former Board of Control for Cricket in India President A C Muthaiah has filed a case against present BCCI Secretary N Srinvasan and moved the apex court against office bearers holding stake in the Indian Premier League (IPL).

“My whole case is that I have been saying there is conflict of interest. Srinivasan has violated and there is conflict of interest. According to our rules, no administrator can have any commercial interest. Now that is being amended, so I have challenged the amendment of the rule,” said Muthaiah.

“Prior to the rules were amended, the office-bearers of the Board of Control for Cricket in India (BCCI) were not allowed to engage in activities that conflicted with its commercial interests,” he added.

The noted industrialist has challenged the decision of the single-judge bench of the Madras High Court that had earlier dismissed his plea.

“When I filed the case it was only against Srinivasan. Now, I find that Pandora”s box is opened so there are so many, who have fallen in this trap of the conflict of interest so others also are responsible,” said Muthaiah.

He has also challenged the legality of the April 26 meeting of the Governing Council of the IPL that suspended its chairman Lalit Modi, accused of financial irregularities.

“There should be an independent probe, all the interested members should be out of both the BCCI and the IPL. When there is an independent member they will be able to take bold decisions. When I was the president, I took a bold decision against match fixing,” said Muthaiah.

“I was able to do it because I was quiet independent I was not involved with any player or any team or anything like that,” he added.

Srinivasan is the Managing Director and Vice Chairman of India Cements Limited that owns Chennai Super Kings in the IPL.

Tax authorities are probing the three-year-old IPL, valued at an estimated 4.1 billion dollars, after Shashi Tharoor resigned from the Union Council of Ministers being accused of using his influence in the formation of a newly franchised Kochi IPL team from Kerala. (ANI)

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Modi was a victim of unfair vilification, says Bindra

April 30, 2010 By Leave a Comment

New Delhi, April 29 (IANS) Former Indian cricket board president Inderjit Singh Bindra, an influential member of the Indian Premier League (IPL) Governing Council, feels suspended IPL chairman Lalit Modi was a victim of unfair vilification and lauded him as marketing genius who has changed the landscape of Indian crikcet.

Saying that he is not holding any brief for Modi, Bindra said the IPL commissioner deserved a better appreciation of his work and a fair trial if anyone thinks he has committed any serious mistakes.

‘The time has arrived for me to post some appropriate questions that have been nagging my mind and have interest in the public eye. Is Lalit Modi a builder of the greatest sporting brand in the world in a short span of three years or a villain who has undermined the foundations of the edifice of Indian cricket?’ said Bindra.

‘In the final analysis, I would like to make it abundantly clear that I hold no brief on behalf of Mr. Modi. Some of the issues which have cropped up concern some alleged violations of laws relating to the FEMA and money laundering and some allegedly serious offences under the Indian Penal Code and are outside the jurisdiction of either the GC or the Working Committee of the BCCI (Board of Control for Cricket in India) or the General Body,’ Bindra noted.

‘However, I am not going to prejudge the issue and in accordance with the constitutional and principles of jurisprudence enshrined in our democratic fabric I will refuse to hold anyone guilty before giving a fair opportunity. I refuse to be swayed by media frenzy in determining vital issues concerning the reputation of not only an individual but also a brand and the reputation of Indian cricket,’ he said.

Bindra said he was pleased to read the extracts of Indian cricket board president Shashank Manohar’s press briefing wherein he has offered to be totally objective and impartial in the application of the rules and regulations of the board.

‘The unfolding events of recent weeks have, undoubtedly, created a crisis that has been fueled by massive media frenzy. Indian cricket has come under threat. The uncontrolled cascade of public perceptions is threatening to tear asunder the wonderful fabric of cricket built thread by thread by many legends,’ Bindra said.

‘This mosaic of cricketing leadership was woven by the blood, sweat and tears of on-field galaxy of outstanding players and honorary officials working with missionary zeal and unwavering commitment,’ said Bindra, recalling the efforts so many cricket administrators in promoting the sport in the country.

‘I was fortunate to step into the shoes of Mr. (Madhavrao) Scindia due to the efforts of many friends, including Mr. Jagmohan Dalmiya. This period witnessed the final breaking of the monopoly of Doordarshan for broadcasting rights as per the 1994 decision of the Supreme Court. It was an epoch transformation that attained its full potential post change of regime in November 2005,’ g

On Modi, he said: ‘It was due to the marketing genius of a maverick — Lalit Modi — that Indian cricket finally emerged as a colossus in the international firmament in terms of reach and financial clout. Indian cricket became the epicenter of world cricket and the envy of the cricketing fraternity during this key phase.’

‘Lalit Modi is unquestionably responsible for converting Indian cricket into a financial giant and for creating a truly global international brand in the IPL. His positioning, branding and commercial savvy puts the League in the ranks of true marketing icons akin to the many success stories dissected as case studies in leading business schools across the globe.’

‘It is a sad surprise that he has suddenly become an object of vilification. All hell broke loose in the media based on some leaks from so called reliable sources within the board and some statements made by principal players in the whole drama. It is disappointing that the vast majority of the media has so far not taken a balanced perspective to the affair,’ he added.

Bindra felt sad that the IPL, a successful global sporting brand has overnight became an object of ridicule and vilification in what was a veritable trial by media.

‘Make no mistake, I am not sitting here to protect anyone or apportion blame at this stage. I would not like us to rush to judgment. For somebody who has been closely associated with the developments in the international cricketing arena since 1982, I cannot but painfully ponder how and why?’ said Bindra.

He also held the cricket fraternity for the ongoing controversy in the IPL.

‘I can opine with conviction that part of the blame lies with our own cricketing fraternity for being an instrument in leaking all kinds of unconfirmed reports without veracity or merit. The media has been ready with the guillotine to hang the hero of the IPL. He has been accused of match fixing, rigging of bids, laundering of money, and all kinds of allegations pertaining to financial irregularities and dealings based on unsubstantiated evidence,’ he said.

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Pakistan’s Younus wants ban evidence made public

April 30, 2010 By Leave a Comment

Former Pakistan captain Younus Khan has told an appeals judge he wants the country’s cricket board to make public the evidence that led to them to impose an indefinite ban on him last month.

“Younus not only wants an early resolution to his appeal against the ban but also asked the appeals judge, Irfan Qadir, to direct the PCB to make public all evidence on the basis of which they banned him,” his lawyer Ahmed Qayyum told Reuters on Friday.

“Younus is adamant that he is innocent and he told the appeals judge he had played diligently and with 100 percent commitment for Pakistan all his life and he didn’t deserve the ban,” Qayyum said.

“Younus also asked the judge to hold his hearing on camera so that everyone knows on what grounds the board has banned him,” he added.

Irfan Qadir, nominated by the Pakistan Cricket Board’s governing council to hear the appeals of six cricketers who were either banned or fined for indiscipline and misconduct on the tour of Australia, held his first hearing on Friday.

The PCB banned Younus and Muhammad Yousuf indefinitely and imposed 12-month suspensions and fines of two million rupees each on Shoaib Malik and Rana Naved. Twenty20 captain Shahid Afridi and brothers Kamran and Umar Akmal were fined three million rupees each.

Yousuf retired from international cricket last month in protest at the ban.

The next hearing of Younus’s appeal is scheduled for May 8 and the appeals of Malik and Rana take place on May 22.

(Editing by Alison Wildey

To query or comment on this story email sportsfeedback@thomsonreuters.com)

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BCCI did not heed Shukla’s warning in January

April 24, 2010 By Leave a Comment

Mumbai, Apr 24 (ANI): Board of Cricket Control in India’s (BCCI) Media and Finance Committee Chairman, Rajiv Shukla has questioned the manner in which Indian Premier League (IPL) Commissioner Lalit Modi was taking decisions and sealing deals.

Shukla questioned Modi’s role in January and had written a letter to BCCI president Shashank Manohar on the matter.

The letter clearly indicates that Modi”s style of functioning had not gone down well with BCCI officials and IPL Governing Council members.

In the letter, Shukla had expressed concern over Modi”s functioning and how things related to IPL were being finalised without taking the Governing Council into confidence.

On Saturday, Shukla’s letter was leaked to a section of the media.

“I would like to bring to the Board”s notice that deals and commercials which are related to the IPL are being finalised without taking the Governing Council into confidence…I get to know about such information through press releases. Just to give you a quote ”The IPL Color TV Deal, UFO deal and other deals,” Shukla stated.

“…It appears to me that the Governing Council body has no sanctity and is just a mere ratification body; wherein the members are not taken into account in any deal,” he added.

Shulka’s letter contradicts Modi’s claim that the IPL Governing Council was privy to all decisions taken by him.

Shukla also expressed shock over not taking him into confidence while the deals were being sealed.

“In spite of being the Chairman of Entertainment Committee, IPL and Finance Committee, BCCI, I was not taken into confidence about the structure of the respective deals or the money associated with it,” he stated.

“I would just like to say that an individual”s decisions are unilaterally being taken rather than a collective decision,” Shukla added.

Modi has been sent feelers to step down voluntarily from the post of IPL, chairman to tide over the crisis but in case he refuses to do so, the BCCI may be forced to pass a resolution and oust him during the Monday meeting of the IPL Governing Council. (ANI)

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If Modi shuns council, BCCI would treat him harshly: Pataudi

April 23, 2010 By Leave a Comment

New Delhi, April 22 (IANS) Former India captain Mansur Ali Khan Pataudi, an influential Indian Premier League (IPL) Governing Council member, said chairman and commissioner Lalit Modi should be given time to present his case, but if he doesn’t appear before the council April 26, he would be treated ‘harshly’ by the Indian cricket board.

Pataudi said that all the controversies surrounding the IPL were dissapointing and felt that the Governing Council is also to be blamed for the present fall-out.

‘If Modi doesn’t attend Monday’s meeting of IPL Governing Council, then I suspect the BCCI (Board of Control for Cricket in India) will deal harshly with him. Modi is also playing hard to get,’ Pataudi said in an interview to NDTV.

‘But if he appears before the Governing Council and asks for some more time to present his case, I think he should be given 3-4 days. We all know that he is busy with the IPL and he should be given some time.’

Blaming the entire Governing Council, Pataudi said: ‘For the Governing Council it all looked so OK. I thought Lalit was doing a fair job…it is wonderful product. But the members of the Governing Council should have been aware of all the issues. We should have asked him more questions about the dealings of the IPL.’

‘The rumblings started last year and we should have questioned Lalit. The Governing Council was getting little bit aware after a contract was changed, a lot of people’s egos were hurt and then there was the rumblings about his style of working. So, there was already an anti-Modi movement.’

Asked what brought the downfall of Modi, Pataudi said: ‘His biggest failure is doing it all alone. That is his achievement also. His style of working is putting people off.’

Pataudi also said there is a clash of interest if BCCI office-bearers own IPL teams, but was in favour of former cricketers having stakes in the franchisees.

‘I think there is a conflict of interest in board secretary N.Srinivasan (chairman of Indian Cements that owns Super Kings) having stakes in franchisees. But he (Srinivasan) took the approval of the board,’ he said.

Pataudi feels that if Modi is ousted, a two to three member committee should be set up by the BCCI to run the Twenty20 league.

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