Nutreco: Excellent results for the first half of 2010: Strong increase in operating result (EBITA) to EUR 84 million

July 30, 2010 By Leave a Comment

EUR 2,250.5 million; an increase of 5.8% compared with the first half of
2009

* Strong increase in volume of Fish feed and Premix and feed specialties

* All business segments report better operating results compared with the first half of
2009

* 2010 interim dividend of EUR 0.50 in cash or shares

* For the full year 2010, Nutreco expects an increase of approximately 25% in EBITA
before exceptional items compared with 2009 (EUR 175.2 million)

Key figures
(EUR x million)
H1 2010 H1 2009 Change
Revenue from ‘continuing operations’ 2,250.5 2,127.7 5.8%
Operating result before exceptional items and amortisation (EBITA) 84.0 41.6 101.9%
Operating result from ‘continuing operations’ before amortisation (EBITA) 74.1 38.5 92.5%
Profit after tax from ‘continuing operations’ 40.4 13.7 194.9%
Basic earnings per share from ‘continuing operations’ (EUR) 1.13 0.36 213.9%
Interim dividend per ordinary share (EUR) 0.50 0.20 150.0%

150.0%

Wout Dekker, CEO Nutreco:

“We have had excellent first six months. The results are better than in the same period
last year for all business segments. These results, the recovery of the markets and our
good financial situation give us confidence for the future. We are also very pleased
with the composition and quality of our results. For the second half of the year, we
expect results in line with the very strong second half of 2009. For the full year this
will lead to an increase of approximately 25% in EBITA before exceptional items.”

All business segments report better operating results
“Our premix and feed specialties operations have very good results, with a growth in
volume and an improved product mix. Fish feed operations show strong growth in Norway
and we experience a recovery in the Chilean aquaculture sector. Our compound feed
operations in Europe reported business results in line with the trend of the last
quarters of 2009. The results in The Netherlands improved substantially compared with
the first half of 2009. In Spain the acquisition of Cargill’s compound feed operations
contributed to revenues. The integration and optimisation of factories is progressing
well. Our meat operations had good results, slightly better than in the first half of
2009.”

Focus on strengthening global position in Fish feed and Premix and feed specialties
“The recent acquisition of a fish and shrimp feed business in Vietnam is in line with
our strategy to further strengthen our position in feed for amongst others shrimp,
tilapia, barramundi, snapper and grouper, in countries of strategic importance. After
China and India, Vietnam is the world’s largest aquaculture producer. For Nutreco, the
acquisition is a good entry into the Vietnamese market and a basis for further growth.
Next to this acquisition Nutreco is investing in renewing and expanding its production
capacity. In March we announced the investment of EUR 20 million in upgrading and
expanding the fish feed factory in Australia. The investment will enable Skretting to
meet the growing demand for high-quality fish feed for salmon, trout, barramundi and
tuna in both Australia and New Zealand. Since 2001, the volume for fish feed in this
region has grown by 10% annually.
In April, Nutreco announced a EUR 6 million investment in upgrading and expanding the
production capacity of Selko, a producer of additives for animal nutrition. This
investment will enable Selko to meet the globally growing demand for alternatives to
antibiotics and for products that can contribute to controlling the development of
salmonella in animal nutrition, raw materials for animal nutrition and drinking water.

Nutreco remains focused on growth by innovations and we continue to execute our strategy
to further strengthen our global market position in Premix and feed specialties and Fish
feed by means of organic growth and acquisitions.”

Outlook

Barring unforeseen circumstances, Nutreco expects EBITA before exceptional items in the
second half of the year to be in line with the very strong second half of 2009 (EUR
133.6 million). For the full year 2010 this will result in an increase of approximately
25% in EBITA before exceptional items compared with 2009 (EUR 175.2 million).

Strategy

Nutreco will continue to focus on growth in animal nutrition and fish feed by means of:

* Focusing on geographical regions and markets with prospects for structural profitable
growth in countries such as Brazil, China, Russia and Vietnam;
* Participating in consolidation in countries where Nutreco has a leading position in
compound feed, such as Canada/North America, the Netherlands and Spain;
* Further strengthen our global market position in Premix and feed specialties and Fish
feed through independent growth and acquisitions;
* Implementing Nutreco’s innovation strategy.

Nutreco will publish a trading update on the third quarter of 2010 on 28 October 2010.

* * * * *

Nutreco

Nutreco is a global leader in animal nutrition and fish feed. Our advanced feed
solutions are at the origin of food for millions of consumers worldwide. Quality,
innovation and sustainability are guiding principles, embedded in the Nutreco culture
from research and raw material procurement to products and services for agriculture and
aquaculture. Experience across 100 years brings Nutreco a rich heritage of knowledge and
experience for building its future. Nutreco employs approximately 9,700 people in 30
countries, with sales in 80 countries. Nutreco is listed on the NYSE Euronext stock
exchange in Amsterdam and with annual revenues of EUR 4.5 billion in 2009.

www.nutreco.com http://www.nutreco.com/

For more information:

Jurgen Pullens, Director Investor Relations and Corporate Communications, Nutreco
Telephone: +31 (0)33 422 6134
Mobile: +31 (0)6 5159 9483
E-mail: jurgen.pullens@nutreco.com mailto:jurgen.pullens@nutreco.com

The full press release is attached in the pdf below

HUG#1434661

Excellent results for the first half of 2010

http://hugin.info/133565/R/1434661/380210.pdf

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USG People NV: 2010 Second quarter and half-year results USG People N.V.

July 24, 2010 By Leave a Comment

Return to growth, EBITA rises

Almere, 23 July 2010, 07:00 CET

Key points of second quarter 2010

· Revenue was € 747 million and was 3% higher than the second quarter
last year
· The gross margin of 22.0% remained virtually stable with respect to the
previous quarters (Q1 2010: 22.1%, Q4 2009: 22.1%, Q3 2009: 21.9%);
in the second quarter of last year the gross margin was 22.6%
· The operating expenses amounted to € 139 million and remained stable
at the same level of the 1st quarter (€ 137 million); the costs were 4%
lower than in the second quarter of last year
· The underlying EBITA came to € 19 million compared with € 12 million
for the second quarter of 2009 (underlying EBITA Q1 2010: € 8 million)

Key figures

Underlying results* Q2 Q2 change 1st Half year 1st Half year change
(in € millions) 2010 2009 2010 2009
Revenue 747 722 3% 1,431 1,477 -3%
Gross result 164 163 1% 317 341 -7%
Operating expenses 139 145 -4% 275 304 -10%
EBITDA 25 18 39% 42 37 14%
EBITA 19 12 58% 29 23 26%
Net income 4 2 -1 0

* Underlying results are results excluding the one-off effects specified on page 13.

“Our revenue grew once again in the second quarter,” said Rob Zandbergen, CEO of USG
People. “This after 7 quarters of decline in revenue. The recovery gathered strength and
we saw extremely strong growth in a few countries. The early cyclical general activities
are growing faster than the late cyclical specialist and administrative activities.
Since we once again succeeded in keeping our operational expenses virtually the same,
the operational leverage worked well in the second quarter. Higher revenue translated
into a substantially higher result. The EBITA more than doubled compared to the previous
quarter. In the late cyclical Dutch market, the recovery lagged somewhat behind, as
expected. Revenue in the Netherlands improved slightly compared to the previous quarter
and indications from the field were increasingly positive. We are confident that the
recovery in the Netherlands will also be more visible in the results in the third
quarter.

The merging of labels in the Netherlands, Spain and Germany announced earlier is going
according to plan and will be completed in the third quarter. Assuming further
improvement in our markets, we are now excellently positioned to profit optimally from
the market recovery.”

The full press release can be found in the enclosed PDF.

HUG#1433631

2010 Second quarter and half-year results USG People N.V.

http://hugin.info/130803/R/1433631/379431.pdf

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India’s Wipro sees stable pricing environment

July 24, 2010 By Leave a Comment

July 23 (Reuters) – Wipro Ltd, India’s No. 3 software firm, expects a stable pricing environment and hopes to maintain its margins in the next 4-6 quarters, chief financial officer Suresh Senapaty told reporters on Friday.

Earlier Wipro (WIPR.BO) posted a higher-than-expected 31 percent rise in quarterly profit as global demand for outsourcing improved [ID:nSGE66K09K] ($1=47.1 rupees) (Reporting by Bharghavi Nagaraju; editing by Surojit Gupta)

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US firms plan to hire; service sector lags -survey

July 20, 2010 By Leave a Comment

July 19 (Reuters) – Plans by U.S. firms to increase payrolls over the next six months have risen to the highest level since January 2008, but some service sector companies still see layoffs, according to a survey released on Monday.

The survey by the National Association for Business Economics (NABE) also showed strong demand in the goods-producing sector, while service sector businesses reported a softening in their expansion rates.

The results echo recent trends in the U.S. economy. Although the services sector dominates the economy, the manufacturing sector has led the recovery. Layoffs in the services sector could further slow the recovery.

The survey showed that half of the 79 NABE members who took part expected to increase payrolls.

In the services sector, of the 28 respondents, 4 percent saw layoffs over the next six months, 36 percent planned to hire more workers, while 57 percent saw no change in payrolls.

“Only the services sector continues to anticipate layoffs,” the NABE said in a statement.

The survey was conducted from June 11-29.

After sturdy job gains early this year, the labor market lost strength in recent months, hurting consumer spending and helping to slow the pace of the recovery from the worst recession since the 1930s.

Still, the NABE noted that layoff and attrition activity declined to 14 percent of respondents from 28 percent a year ago.

In the second quarter, the percentage of respondents reporting increases in employment touched its highest level since the second quarter of 2007.

“Over the past two quarters the goods-producing sector has experienced a dramatic recovery in hiring trends,” the NABE said, noting that 42 percent of respondents in the sector reported increased hiring in the current survey, up from zero in January.

The survey also found that about a quarter of respondents’ companies had increased capital spending in the second quarter, with the finance, insurance and the services sector dominating. Transportation, utilities, information and communications sector respondents reported no increase in capital spending.

Industries reported a slowing in the demand growth rate during the second quarter, the survey showed.

Economists have revised down their forecasts for second-quarter gross domestic product growth, on expectations that economic growth slowed in the period.

“Demand growth, though slower in the aggregate than during the first quarter of the year, remained broad-based, with all four major industry sectors expanding for a second consecutive quarter,” the NABE said.

Strong demand was reported in the goods-producing sector, while the finance, insurance, and real estate sector accounted for the deceleration in overall industry demand.

About 59 percent of the firms believed Europe’s sovereign debt crisis would have no impact on them, while 35 percent worried they could be hurt. (Reporting by Lucia Mutikani; Editing by Leslie Adler)

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Finnish outlook ‘unusually uncertain’ -IMF

June 8, 2010 By Leave a Comment

June 7 (Reuters) – Finland faces an “unusually uncertain” economic outlook given the steep impact of the recession last year and the country’s rapidly-ageing population, International Monetary Fund (IMF) said on Monday.

“The deep recession is likely to reduce the trend level of output, and may also have a negative impact on the growth of potential output,” the IMF said in a statement on the Nordic country’s economy. “Activity has rebounded in recent quarters, and consumer and business confidence have picked up. Nonetheless, growth is projected at only 1.25 percent this year and at about 2 percent in 2011,” it said.

(Reporting by Terhi Kinnunen)

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Thailand’s tourism sector loss put at 120 billion baht

May 20, 2010 By Leave a Comment

Bangkok, May 20(ANI): Thailand’s tourism industry experts have claimed that the Red-Shirts’ anti-government rally could cause the sector about 120 billion baht in lost revenue.

“The political turmoil will drive away foreign tourists. The number of foreign arrivals this year is expected to drop by 10 per cent to between 12.7 million and 14.1 million,” The Bangkok Post quoted Kongkrish Hiranyakij, Chairman Federation of Thai Tourism Industries, as saying.

He further said the number of foreign tourists was expected take a 20 percent dip in the second and third quarters of the year, bringing projected revenue down from 600 billion baht to only 480 billion baht this year.

The industry, which supports six percent of Thailand’s economy and employs 15 percent of the country’s workforce, has been hammered by the nine-week political turmoil and rioting.

Nearly 1,800 people have been wounded in the period as the government, backed by Thailand’s royalist establishment, and the protesters with their support from the rural masses and ousted premier Thaksin Shinawatra, failed to find common ground. (ANI)

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Djokovic battles into Rome Masters quarters

April 30, 2010 By Leave a Comment

World number two Novak Djokovic battled into the Rome Masters quarter-finals on Thursday with a 6-4 6-4 win over Thomaz Bellucci that was harder than the score suggests.

Djokovic, the 2008 champion, had to come from a break down in each set against the Brazilian, who put up a lively display but at times had trouble keeping his big serve under control.

The Serb will be comforted by the ability he showed to raise his game when required before meeting in-form Spaniard Fernando Verdasco, who thrashed him in the semi-finals of the Monte Carlo Masters two weeks ago.

Verdasco, fresh from his triumph at last week’s Barcelona Open, booked his place in the last eight with a 6-4 7-6 win over his compatriot Guillermo Garcia-Lopez.

Holder Rafael Nadal is aiming to continue his strong form later on Thursday against Romanian Victor Hanescu in the third round.

(Reporting by Paul Virgo; Editing by Justin Palmer

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

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Castration solution to abandoned babies: Malaysian Senator

April 30, 2010 By Leave a Comment

Kuala Lumpur, Apr 30 (ANI): Malaysian Senator Ahmad Husin has said that men who do not want to take responsibility after having made girls pregnant after marriage, should be castrated.

Expressing anger and frustration over the rising number of abandoned babies, Senator Husin said only this could teach men to be more responsible about their actions.

“In cases like these, those involved always disappear without a trace. We should just castrate them,” he said after asking a supplementary question to Women, Family and Community Development Minister, Datuk Seri Shahrizat Abdul Jalil, on cases of abandoned babies yesterday, reports NST.

Shahrizat said although the suggestion was radical yet creative and innovative, studies had to be done first as not all men were irresponsible.

“Besides, we are not living in the past. We need to tackle the problem the 21st-century way, beginning from a strong family institution and awareness programmes,” she told the House.

Shahrizat said most cases of abandoned babies were due to weak family institution and where the responsibility of bringing up a child was left to other parties.

“Parents are all too busy to pay attention to their children. The family institution has become individualistic where parents ”franchise” their kids for other quarters to bring them up,” she said.

Earlier, to a question by Senator Empiang Jabu, Shahrizat said four strategies: advocacy, prevention, support and research would be used to tackle related issues.

She said the ministry provided counselling and interactive workshops to give the public, especially young girls, deeper understanding on intimate relationships and its consequences.

“It is not only the responsibility of this ministry to tackle this issue. We need the support and cooperation of other stakeholders, including the public,” she said, adding cases of abandoned babies stood at 407 over the past five years.

Shahrizat urged the public to report such cases immediately by calling 15999.

Over the last five years, a total of 10,758 cases of child abuse were reported nationwide, with around 3234 cases registered in Selangor, the highest and the lowest in Sabah with 34 cases. (ANI)

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New ambulance station for Murrurundi

April 13, 2010 By Leave a Comment

Murrurundi is expected to receive a new ambulance station.

The NSW Department of Public Works released a request for tender on Friday to construct the station.

There has not been any information released as to when it is expected work will begin or when it will become operational.

However, the new station will be built on the Wilson Memorial Hospital site in O’Connor Street.

The new station will accommodate two ambulance vehicles and include offices, a training room and relief quarters for paramedics.

Submissions for the tender close on 18th May.

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Westwood fires English challenge at Masters

April 10, 2010 By Leave a Comment

Eighteen greens in regulation in the opening round meant that Lee Westwood has made his best-ever start to a Masters campaign at the 11th time of asking.

The European number one had seven birdies and two bogeys en route to a 5-under-par 67 that gave him a share of the lead and confirmed his position as one of the favourites for the tournament.

It was, he said, “easily the best” he had played over the famed Augusta National Golf Club course.

“That was a 67 that could have been a 64 or anything today,” he said.

“You go out here, every green in regulation, I missed seven by about that far (indicating two feet) and 13 by that far away (an inch).

“Each time I missed it the right side. Eighteen greens in regulation around here – I don’t think people often do that.”

Westwood knows that this year he is expected in many quarters to finally win the major title that has eluded him in the past, notably last year when he missed getting into a play-off for the British Open by one stroke and at the 2008 US Open.

His form has been consistently good over the last 12 months, winning the Race to Dubai in November and then producing his best-ever start to the season this year.

And Augusta, he believes, is a course that suits him down to the ground.

“It does feel like a golf course that ought to suit me,” he said.

“Over the last few years, I’ve gradually found a way to plod my way around and feel more comfortable.

“I was saying to Billy (Foster), my caddie, coming up the last, that although it’s the best I’ve ever played around here, it’s the most comfortable I’ve felt on the golf course.

“I’m gradually working out a way for me to get around this golf course in as few shots as possible.”

Ian Poulter also worked his way onto the leaderboard with a 4-under 68 which put him into a four-way tie for seventh, level with Tiger Woods.

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Bombers cop criticism on the chin

March 31, 2010 By Leave a Comment

Essendon coach Matthew Knights has welcomed criticism of the Bombers’ AFL first-round loss to Geelong – saying it means the Bombers now expected to win high-profile games.

The Bombers broke away from the Cats twice early in the game before a late fade-out saw them lose by 31 points.

“It’s great, I think it’s good the expectations are going up on this group, that we’ve been critiqued really hard against the reigning premiers,” Knights said on Tuesday.

“I think it’s good the expectations are going up on this group.

“So there’s an expectation that we should win those games now.

“We take it as a compliment. For two-and-a-half quarters we had the balance right, I thought, and we were really diligent both when we had the ball and when they had it.

“I was really proud of that but the last quarter-and-a-half we just weren’t strong enough to keep it up.”

Knights’ main criticism was that Essendon was unable to capitalise on the chances it created in the final term and faded when the Cats applied late pressure.

“Geelong, with the talent they have, once they get on top, they really punish you – they punished the opportunities which we didn’t take also,” Knights said.

“It’s having the mindset to absorb the pressure and take those opportunities and keep the scoreboard ticking over.

“Also defensively, we weren’t as sound as we were in the first two-and-a-half quarters.

“We can try and trick ourselves and come up with unique things that are out of left field but the reality is we just let ourselves down and didn’t cover off on the areas we were good at in the first two-and-a-half quarters.”

Knights also said that Essendon was intent on continuing its aggressive game plan.

“Reasonably fast football is sustainable,” he said.

“I don’t think you’re going to win a premiership by just playing slow, economic football.”

- AAP

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Stosur dumps Jankovic to make quarters

March 31, 2010 By Leave a Comment

Australian tennis ace Samantha Stosur has snapped Jelena Jankovic’s eight-match winning streak to advance to the quarter-finals of the lucrative Miami Open.

World number 10 Stosur had never previously taken a set from Jankovic, but outclassed the Serb 6-1, 7-6 (11-9) in their fourth career meeting.

Stosur’s impressive fourth-round victory also reversed a 6-2, 6-4 semi-final loss to eighth-ranked Jankovic last week at Indian Wells.

In a marquee match featuring two of the tour’s most in-form players, Stosur broke Jankovic in the second and seventh games to race through the opening set in 27 minutes.

The second set seemed headed the same way as Stosur jumped out to a 3-1 lead and grabbed another break point in the fifth game.

But Jankovic tenaciously battled back to 3-3 before sending the set to a tie-breaker.

Serving with confidence, ninth-seeded Stosur held her nerve, saving two set points in the breaker, to close out the contest match in one hour 31 minutes.

Stosur, who also made the quarter-finals last year in Miami, next plays US Open champion Kim Clijsters for a place in the last four of the $US4.5 million event.

The Australian is none-from-three against Clijsters, who crushed fourth-seeded titleholder Victoria Azarenka 6-4, 6-0 in her fourth-round match.

- AAP

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SCENARIOS – Will Thailand’s PM ride out “red shirt” protests?

March 30, 2010 By Leave a Comment

Thai “red shirt” protest leaders prepared for a second day of talks on Monday with Prime Minister Abhisit Vejjajiva and vowed to press the embattled premier to dissolve parliament within 15 days.

Analysts say the dialogue, which Abhisit agreed to on Sunday to defuse tension, is unlikely to go anywhere as neither side appears to be in a mood to compromise.

Here are possible outcomes:

- PROTESTERS STAY FOR WEEKS BUT FAIL TO FORCE ELECTIONS

The ability of the “red shirts”, who broadly back ousted former premier Thaksin Shinawatra, to mobilise more than 150,000 people on March 14 has delivered a strong message of public discontent but will probably fail to topple the government.

The mainly rural movement is still attracting tens of thousands to the city’s old quarters near Abhisit’s office, and its leaders say they will stay as long as it takes.

But as time passes, financial and logistical constraints will become more prominent, as well as the challenge of keeping the crowd engaged. The leaders could temporarily call it off after a few weeks, claiming some sort of victory based on high turnout and the absence of violence.

Knowing time is his most useful weapon, Abhisit succeeds in dragging out the talks for as long as possible, listening attentively and making positive noises but ensuring he stops short of committing to any substantive deal.

Unlike in the past, the “red shirts” have avoided rhetoric such as a declaration of “a final battle”, which means they could stop without too much loss of credibility.

PROBABILITY: Most likely scenario and favourable for Thai financial assets in the short and medium term. Failure to oust the government prolongs an uneasy status quo, which markets have learned to live with. Still, deep political rifts remain unsolved and protesters could easily return in the weeks or months ahead.

MARKET IMPACT: If the protests drag on, bond yields could fall on expectations the Bank of Thailand would keep its benchmark rate at a record low of 1.25 percent on April 21. The bank has said it wants to normalise rates but that, to some extent, would depend on politics. Bond market investors have priced in the outside chance of rate rise at that meeting, although the consensus remains for a June tightening.

- VAGUE AGREEMENT REACHED, ENDING PROTEST; ABHISIT SURVIVES

Despite much heel-dragging and posturing in coming to the negotiation table, the two sides eventually reach a vague, mutually acceptable, face-saving agreement.

Abhisit has reached out to moderate “red shirts” in speeches while isolating Thaksin and hardcore leaders. A compromise such as the promise of elections within a comfortable timeframe could give protest leaders a way to end the expensive and energy-sapping rally and offer the government breathing space.

However, it also brings forward the medium-term risk of the Thaksin-allied Puea Thai Party winning the next election. If another pro-Thaksin party eventually returns to power, it could face protests of its own, a military coup or the kind of judicial intervention that ousted a pro-Thaksin government in 2008.

PROBABILITY: This is the second-most likely outcome and most favourable for markets. A promise of early polls, even in vague terms, means protesters may stay off the streets for some time.

MARKET IMPACT: While foreign investors are piling into Thailand’s stock market, foreign companies are less enthusiastic about direct investment because of longer-term risks and are forecast to cut investment pledges this year by 15 percent, the Board of Investment said this month.

- COALITION PARTNERS PULL OUT; ABHISIT’S GOVERNMENT FALLS

The orderly but frustrated protest becomes more heated, increasing tension and raising questions about the government’s stability. This could lead to deals being struck among Abhisit’s discontented coalition partners.

Some of these partners — swayed by money politics, a promise of more glamorous cabinet seats and stronger leverage ahead of the next elections — could break away when the opposition Puea Thai Party tables a no-confidence motion in the next two months.

A successful motion could put an ally of Thaksin in power.

PROBABILITY: This is an unlikely outcome, given that coalition members already control key cabinet seats and Puea Thai lacks a presentable candidate for the premiership. The benefits of sticking with Abhisit have so far outweighed internal feuding.

MARKET IMPACT: This outcome would be negative. A Puea Thai-led government would anger the military, urban elites and royalists, who wear the king’s traditional colour of yellow at protests, raising the risk of extra-constitutional intervention.

- VIOLENCE ERUPTS; ABHISIT CALLS EARLY POLLS

The protest has intensified in the last few days and mysterious bombs and grenade attacks have put Bangkok on edge. The threat of confrontation could lead to a misstep by security forces. Casualties blamed on the authorities would undermine Abhisit’s legitimacy and force him to dissolve parliament.

PROBABILITY: Highly unlikely given the government’s careful management of the protests and public relations thus far.

MARKET IMPACT: May prompt an exodus of investors fearful of heightened instability and the potential for more stalemate, unrest or even a military takeover in a power vacuum.

(Editing by Martin Petty & Jan Dahinten)

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Modi to cooperate with SIT: Arun Jaitley

March 22, 2010 By Leave a Comment

Ahemadabad, Mar 22 (ANI): Senior Bharatiya Janata leader Arun Jaitley on Monday said Gujarat Chief Minister Narendra Modi will cooperate with the Special Investigation Team (SIT) probing Gulbarg carnage case of the 2002 Gujarat riots.

Interacting with the media here, Jaitely, who is also the Leader of the Opposition in the Rajya Sabha, said: “When Modi has to appear there (before the SIT) at designated time, he will. He will cooperate with the SIT.”

Commenting on why Modi didn’t appear before the SIT, Jaitley told reporters: “SIT didn’t fix March 21 for Modi’s appearance.”

“For the past few days, there has been incorrect information circulated in the media from some interested quarters about the date of SIT’s summon. It is an effort to create wrong impression to interfere in the process of law,” he added.

Earlier the day, Narendra Modi issued an open letter where he reasoned out that the SIT don’t summon anyone on Sundays and on public holidays.

“I will respond to the SIT fully respecting law and keeping in view the dignity of the body appointed by the Supreme Court. But it is a matter of grave concern and needs investigation as to why and who started spreading lies that Narendra Modi has been summoned by SIT (Special Investigation Team) on March 21,” read the statement. (ANI)

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Aussies bundled out in Sevens semis

March 22, 2010 By Leave a Comment

Despite squandering a chance to reach the Adelaide Sevens final, Australia coach Michael O’Connor believes his side’s stocks are rising ahead of this year’s Commonwealth Games in India.

The Australians moved up to fourth on the IRB Sevens world table after reaching the semi-finals at the Adelaide Oval on Sunday.

It was the second successive tournament where the Australians had reached the last-four, losing on both occasions to Samoa, who mowed down tournament surprise packets the United States 38-10 in the final.

While disappointed to lose 24-12 to Samoa, O’Connor said the team had shown there was much to look forward to between now and the Delhi showpiece in October.

“What this tournament’s shown is that any side on the day, if they get their act together, [they can win],” he said.

“Unfortunately we didn’t play our best football. We scraped through from the quarters to the semis not playing our best football against Fiji, so I’m very optimistic we can put better performances on the field and improve.

“There’s no doubt there’s character, the boys want to win, it’s just that execution and handling the pressure and put it all in the experience, hopefully that will pay dividends in the next tournament (the Hong Kong Sevens).”

After a thrilling 26-22 win over Fiji in the quarters, the Australians were unable to repeat the trick against the Samoans, who led 19-0 half-time.

The Pacific Islanders demonstrated why they have been so feared in the Sevens format in 2010, using their considerable skills in the air to retain possession then hammering away at the Australians whenever they had the ball.

“We were 19-0 down before we knew what was going on,” said O’Connor, who was full of praise for the performance of the Samoans.

“They’re experts at it, they’re the best in the competition, they outplayed us in the air and on the ground I thought their work at the ruck was particularly good, they counter-rucked us and upset what little ball that we had.”

“It is very hard to come back from that sort of scoreline in the second half and the way they started they were on a roll, they denied us possession and our blokes were a bit shellshocked I think.”

Australian captain Patrick McCutcheon, teenager Liam Gill and centre Brackin Karauria-Henry all enjoyed fruitful tournaments, McCutcheon showing he will provide plenty of spirit and no little skill to the Waratahs after earning a Super 14s contract.

-AAP

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Aussies advance to Sevens quarters

March 22, 2010 By Leave a Comment

Unbeaten Australia has advanced to the quarter-finals of the Adelaide Sevens and an encounter with Fiji after beating England 17-12 in a spirited final pool match on day two.

The result eliminated England from the cup competition, punishment for an upset loss to the United States on the opening night.

Kimami Sitauti ran in two tries for the home side before Liam Gill crossed the line for the winner in front of about 9,000 spectators at Adelaide Oval.

Gill was sent off for a high tackle in the closing minutes, but a handful of desperate tackles guided the Australians through.

Their victory had the added benefit of pushing them closer to passing England into fourth on the IRB Sevens table.

The usual suspects New Zealand, South Africa, Fiji and Samoa all advanced, while Argentina and Wales also progressed to the cup quarter-finals.

Australia had earlier trounced the United States 36-0 to secure its path to the knockout phases of the tournament.

The Australians ran in six tries to nil, including a hat-trick to their opportunist centre Karauria-Henry.

-AAP

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US favoured Musharraf’s ‘safe exit’: Patterson

September 20, 2009 By Leave a Comment

Islamabad, Sep.20 (ANI): The United States, for the first time, has disclosed that it wanted a ‘safe exit’ for the former Pakistan President General Pervez Musharraf after he stepped down from the Presidency.

In an interview with an American news paper, US Ambassador to Pakistan Anne Patterson said Washington wanted a ‘dignified’ retirement for Musharraf.

She said the US wanted a peaceful transition to democracy in Pakistan at that time.

Commenting on the ever increasing demand for Musharraf’s trial under the Article Six of the Constitution by certain quarters in Pakistan, Patterson said it was an ‘internal matter’ of that country.

“Now he (Musharraf) has become a thing of the past and we have no position on him,” The Daily Times quoted Patterson, as saying. (ANI)

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Zardari being unnecessarily targeted for his overture to India: Editorial

September 17, 2009 By Leave a Comment

Islamabad, Sep.17 (ANI): An editorial in one of the leading English dailies of Pakistan has highlighted that President Asif Ali Zardari is being unnecessarily targeted and criticized by certain quarters in the country even if he attempts to address the long pending issues with India in his bid to de-escalate tension between the two neighbour countries.

The Daily Times editorial said while Zardari is condemned for his overture to India, similar actions taken by former Prime Minister Nawaz Sharif goes unnoticed in the country.

“President Zardari is pilloried if he makes a friendly overture to India; a similar overture made by Mr Nawaz Sharif is either ignored or actually praised,” the editorial said.

It also brought to light how several retired army officials and bureaucrats have suddenly jumped out of their retirement to denounce Zardari’s every action.

“Retired generals and retired bureaucrats whose ‘stand-still’ strategy with India in the past has brought Pakistan to its present crisis point, have crept out of their retirement to express their shock at how President Zardari is harming Pakistan through his diplomacy with China, the United States and the European Union,” the editorial stated.

The editorial went on to add that Zardari is right in his part to woo the international community, especially China and the US.

“Pakistan needs a lot of placatory diplomacy, not hostile ‘action’, given its past failed strategies,” it concluded. (ANI)

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Growth to slow in coming quarters, says Ahluwalia

September 1, 2009 By Leave a Comment

New Delhi, Sep 1(ANI): Planning Commission Deputy Chairman Montek Singh Ahluwalia said on Tuesday that country’s economic growth in the coming two quarters will be lower than April-June.

The economy grew 6.1 percent in the June quarter, roughly in line with forecasts, but a poor monsoon threatens to erode growth later in the year even as it drives prices higher.

“I think the growth rate will be worst in the second quarter and may be even in the third quarter because that’s when the impact of drought will be more evident, but we expect that in the fourth quarter, which is January to March 2010, there will be stronger recovery leaving an average growth rate of around 6.3 percent,” Ahluwalia said.

Ahluwalia added that if the monsoon revives in September it will help the rabi crop.

“A lot depends on September rains still, in the sense that good rains in September may not be able to save the kharif crop in areas where there has been a lot damage but can make a big difference to rabi,” he added.

The Planning Commission’s meeting comes a day after the country’s top economic minds agreed that India’s economy is looking up after the Gross Domestic Product (GDP) showed a 6.1 per cent growth.

India witnessed a 7.8 percent economic expansion during the corresponding period of the last fiscal.

According to sources, mining and electricity in industrial sector, and financing among services sector posted higher growth of 7.9, 6.2 and 8.1 percent, respectively, in the first quarter of this fiscal, against 4.6, 2.7 and 6.9 percent a year ago.

Infrastructure development and community services also managed to register a growth of 7.1 and 6.8 percent against 8.4 and 8.2 percent, in the last fiscal.

However, agriculture and manufacturing industry expanded at a slower rate of 2.4 and 3.4 percent respectively. (ANI)

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Badminton: India’s campaign ends as Saina Nehwal goes down to Lin Wang

August 15, 2009 By Leave a Comment

Hyderabad, Aug 15 (ANI): India’s campaign at the World Badminton Championship came to an end on Friday with ace shuttler Saina Nehwal losing her quarter-final match against second seed Chinese Lin Wang.

Nehwal’s defeat came just a few hours after the mixed doubles pair of Valiyaveetil Diju and Jwala Gutta were knocked out of the tournament.

Nehwal lost her match in straight sets 21-16, 21-19 against her Chinese opponent at the SAAP Indoor Stadium, Gachibowli.

Nehwal was leading 9-1 in the second game but squandered the chance to draw level and bowed out of the tournament after a 39-minute fight.

Earlier, in June Nehwal had defeated Wang to win the Indonesian Super Series.

Speaking to newsmen after her defeat Nehwal said Wang was better prepared and was defending well.

Nehwal added that though she made a few mistakes but happy with the performance.

Wang played better at net and involved in more tabs and pushes, which shows she was prepared, Nehwal said.

“I reached the pre-quarters in 2007 and this time I have reached quarters and I have beaten the top 10 players so I’m satisfied,” Nehwal said. (ANI)

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