Indian Army chief's statements "very hostile", says Pak foreign minister Hina Rabbani Khar
The Indian leadership had to "catch up" with Pakistan in the matter of striving for peace with, Khar gratuitously told the Charlie Rose show, while presenting her country’s version of what transpired at the LoC and denying the Indian account the soldier’s beheading.
WASHINGTON: The disconnect between Pakistan's adrift and enfeebled civilian government and its out-of-control military was on show in the US last night when the country's foreign minister Hina Rabbani Khar insisted Islamabad wanted to resolve issues through dialogue rather than military actions despite the alleged depredations of its army resulting in the beheading of an Indian soldier.
The Indian leadership had to "catch up" with Pakistan in the matter of striving for peace with, Khar gratuitously told the Charlie Rose show, while presenting her country's version of what transpired at the LoC and denying the Indian account the soldier's beheading.
Khar arrived in the US to attend a special session of the UN Security Council of which Pakistan is the Chairman for the month of January even as her toxic country was imploding from a shadowy confrontation involving the judiciary, military, and clerical-political forces. But she presented the voice of sweet reason before American TV audience, maintaining that Islamabad was striving for peace and describing the Indian Army Chief's warning to Pakistan as "very hostile."
"After the comments by the army chief I am taken back by 20 years," Khar said on show aired on PBS.
Charlie Rose: What did he say?
Khar: Just very hostile comments.
The Indian Army Chief Gen Bikram Singh had warned Pakistan that India reserves the right to retaliate at the "time and place" of its choosing, suggesting that the border spat is not going to be buried anytime soon. India's political leadership too appeared to be responding with spine after initial timidity, following popular anger and media outcry.
Khar said Pakistan was "not very pleasantly surprised" by the comments it heard from India and gratuitously added "I think this is what has changed in Pakistan where India needs to catch up." Pakistan, she said, today presents a country "which is very clear in its head as to how it wants to operate with its neighbors."
"And the way we want to operate with our neighbors is to try and build on the trust to take care of and then build that trust enough to be able to build an environment in which we can take care of the disputes that we have on the dialogue table rather than through military statements and through military actions," she added.
While the Pakistan foreign minister's statements were mainly meant for western consumption, it is no great secret among analysts here that the country's civilian government has little control or leverage over the military, which plays by its own jihadi rule book both in its eastern and western front. There has been speculation in expert circles that the Pakistani military or sections of it could be turning up the heat on its eastern front with India to rein in and redirect some of the jihadi forces which are attacking the military.
On Tuesday, the regionalists were also riveted to the new power struggle in Islamabad with little attention paid to India's fulminations on the border incident.
In Khar's version of the border incident, it was Indian forces which came 400 meters inside Pakistani territory for an attack which resulted in the death of a Pakistani soldier. "Now just two days after that or three days after that, we had an allegation which was made that two Indian soldiers were killed by Pakistani fighting which we looked into and we could find no evidence that Pakistani troops had done that. And then of course, there were extremely conflicting statements that the heads were decapitated," Khar narrated, capitalizing on the initial mixed messages that came from India.
"The northern commander spokesperson who is the person on the ground said they weren't (beheaded). Others said they were," she added, suggesting that the issue had become embroiled in domestic politics
China should strengthen force on Indian border, researcher says
“China should strengthen its supervision and control over the border area with India," Fu Xiaoqiang, researcher from the China Institute of Contemporary International Relations, said.
BEIJING: A Chinese expert has advised the government to increase supervision on its border with India after New Delhi's decision to form a new mountain strike corps for the 3,380km-long border that the two countries share in total.
Reacting to a news report in The Times of India, Fu Xiaoqiang, researcher from the China Institute of Contemporary International Relations, said, "China should strengthen its supervision and control over the border area with India."
The formation of a new corps shows India sees China as its military competitor, Fu was quoted by Beijing-based newspaper the Global Times.
The TOI report said that the new corps, having around 40,000 soldiers, will be formed during India's 12th Five-Year Plan from 2012 to 2017, at an estimated cost of 810 billion rupees ($14.9 billion). The idea is to build the capability of launching counter-offensives into the Tibet Autonomous Region against potential "Chinese attacks."
However, Fu felt the Indian proposal has little relation to a military exercise carried out by the Chinese air force over the Tibet Autonomous Region in December. It is part of India's overall plan to strengthen its military power along its border with China, he said.
India’s troubled borders
Of all the legacies the British Empire left behind in South Asia nothing may have such a lasting impact as the arbitrary borders they drew on maps during their two centuries of colonisation. These troubled borders have divided communities, united disparate groups, and forever spelt trouble for all the countries in the region. India seems to be carrying the heaviest burden of the white man's whims in South Asia, the brutal killing of two of its soldiers along the Line of Control being the latest example of it.
Not just Pakistan, those strokes across maps have been a key factor for wars or tension between India and China, Bangladesh and India, Pakistan and Afghanistan etc. Along the India-China border world's biggest conventional military build-up is quietly happening, while the Pakistan-India borders remain perpetually tense, and occasionally turn into conflict zones.
Between Afghanistan and Pakistan the unifying aspects of a single religion pale before the troubles brought about by Durand Line, the 2,640-km border between the two countries that cuts through Pashtun land. Named after the then foreign secretary of undivided India Henry Mortimer Durand , the boundary was the product of negotiations between British Empire and the Afghan ruler Amir Abdul Rahman Khan, with scant regard for the fact that they were cutting through Pashtun territories and splitting tribes. In the Amir's defence, some say the single-page agreement that he signed was in English, a language he could neither read nor write. The process of physically transferring the frontier line on the ground was quite complex and very brutal, given the fact that one line can translate into a four-mile stretch on the ground. And with its many topographical errors, it is a challenge that continues to haunt the region. Pashtun people remain divided, and Pakistan and Afghanistan remain locked in the dispute.
India's security fortunes are intrinsically linked to the fate of the porous Durand Line since the relations between Pakistan and Afghanistan have had a dramatic impact on India for decades. At the height of the Cold War this porous border was exploited by the US and Pakistan to supply arms to the mujahideen ag ainst Soviets, it created the template for the armed Kashmir insurgency that would begin in the late 80s. In the 90s, this porous border helped Pakistan to create Taliban , effectively ending India's influence in Kabul.
Many fronts
The latest round of ceasefire violations, the beheading of Indian soldier and the resultant escalation of tension between the two sides is only the latest in a series of angry stand-offs between India and Pakistan that draw its genesis mostly on the haphazard way the British drew up boundaries of the two nations.
Though the Line of Control itself is not a British product, its boundaries of Kashmir have hugely contributed to the tension over the region between India, Pakistan and China. While China occupies Aksai Chin, India stakes claim to it. Both have different maps prepared by British to validate their claims. China also occupies the trans-Karakoram tract, gifted to it by Pakistan in 1963. By Indian claims that too is part of undivided Jammu and Kashmir which belongs to India.
The story is not very different in the northeast, where most of the 4,057-kilometer Line of Actual Control exists. The McMahon Line — named after Henry McMahon, yet another foreign secretary of the government of India whose name has been given to a boundary — was drawn up in 1914 between the British Empire and Tibet. China, which was not represented at the Simla conference, doesn't recognise this boundary officially, though most parts of it are now the de facto Line of Actual Control.
Along the Line of Actual Control, as two of the world's fastest economies grow in a quick pace their military preparedness is also scaling up. Today, this border is witnessing an unusual military build-up , which is visible nowhere else in the world. The temporary peace of the border is not a guarantee of perpetual peace for the future.
The curse of the British-drawn boundaries is most visible in the continuing bitterness between India, Pakistan and Bangladesh. Most of their borders were drawn in a matter of few weeks by a man who had never been to the region until then. Sir Cyril Radcliffe chaired the border commissions that drew lines over maps hastily to create India and Pakistan, which later also gave birth to Bangladesh, and decided destinies of their people. These boundaries , in many instances, were haphazard and occasionally cut through villages , and all three countries continue to live through the complications thrown up by Radcliffe's lines.
Burying the past
The latest round of tension along the LoC between India and Pakistan raises a very troubling question. Do the south Asian countries have the political willpower to free themselves from the tyrannies of British boundaries to create a more peaceful future? How much more time and how many more lives will be necessary to create a political consensus across the region to readjust boundaries, make compromises and divert their energies away from the continuing militarisation of their boundaries.
5 ceasefire violations by Pak after flag meet
The fresh ceasefire violations since Monday afternoon were reported from the Mendhar, Balnoi and Uri sectors, which are also traditional infiltration routes.
JAMMU/NEW DELHI: The meandering 778-km Line of Control (LoC) remains red-hot, with Pakistan violating the ceasefire at least five times after the Brigadier-level flag meeting was held at the Chakkan-Da-Bagh crossing point in Poonch district on Monday afternoon.
"Pakistan came to the flag meeting with a prepared script...He (the Pakistani brigadier) read out from a prepared text and denied everything. Even after the flag meeting, there were three ceasefire violations. They fired from small arms as well as mortars," said Lt-General K T Parnaik, who as the Northern Army Command chief is responsible for the LoC as well as J&K.
The senior officer said Pakistan chose to remain in "denial mode" during the flag meeting despite all evidence that Pakistani Army's SSG commandos had intruded well into Indian territory in the Mendhar sector and beheaded Lance-Naik Hemraj of the 13 Rajputana Rifles, apart from mutilating the body of Lance-Naik Sudhakar Singh, on January 8.
This comes a day after Army chief General Bikram Singh said he had instructed all battalion commanders on the LoC to retaliate "aggressively and offensively" if the Pakistani Army provokes them by violating the ceasefire or pushing militants into J&K.
The fresh ceasefire violations since Monday afternoon were reported from the Mendhar, Balnoi and Uri sectors, which are also traditional infiltration routes. "We did not respond because they were not effective...we do not believe in reacting in haste and anger...We have lot of options and plans. We will react in time," said Lt-Gen Parnaik.
"We accused them (at the flag meeting) of carrying out the barbaric act...we insisted that the head (of Lance-Naik Hemraj) be returned. We also drew their attention to the frequent firing in the area," he added.
Apart from registering a strong protest about the "dastardly act", the Indian delegation at the flag meeting also presented a file with photographs to show landmines planted by Pakistani troops in forward areas inside Indian territory. Pakistan, however, rejected all the evidence, and instead accused India of cross-border raids and escalation in ceasefire violations.
Lt-Gen Parnaik said the infrastructure of terrorism was still "very much intact" across the border, with over 2,500 militants in 43 terror-training camps. Moreover, around 450 terrorists are present on "border launch pads" waiting for an opportunity to sneak into India, with militant outfits like Lashkar-e-Taiba (LeT) working in close conjunction with the Pakistani Army to launch attacks on India.
China readying for war with Japan?
BEIJING: China's armed forces have been instructed to raise their fighting ability in 2013, state media reported on Tuesday, amid heightened tensions with Japan over disputed islands. In 2013, "the PLA and the Chinese People's Armed Police Force should focus on the objective of being able to fight and win battle," according to a report in the overseas edition of the People's Daily newspaper, the Communist Party organ.
The directive came in a document released at the beginning of the year by the PLA general staff on military training in 2013, said the report, republished from a website linked to a PLA newspaper. To prepare for combat, the armed forces must also "vigorously strengthen real-combat-like military training" and intensify efforts to cultivate high-calibre military personnel, the report said.
US House approves $50.7 billion in superstorm Sandy aid
Sandy roared through several states in late October and has been blamed for 140 deaths and billions of dollars in residential and business property damage, much of it in New York, New Jersey and Connecticut.
WASHINGTON: The Republican-controlled House of Representatives approved $50.7 billion in emergency relief for Superstorm Sandy victims on Tuesday night, ending an episode that exposed painful party divisions more than 10 weeks after the storm brutalized parts of the heavily populated Northeast.
The vote was 241-180, and officials said the Senate was likely to accept the measure early next week and send it to President Barack Obama for his signature. Democrats supported the aid in large numbers, but there was substantial Republican backing, too, in the Republican-controlled House.
"We are not crying wolf here," said Republican Rep. Chris Smith of New Jersey, one of a group of Northeastern lawmakers from both parties who sought House passage of legislation roughly in line with what the Obama administration and governors of the affected states have sought.
Sandy roared through several states in late October and has been blamed for 140 deaths and billions of dollars in residential and business property damage, much of it in New York, New Jersey and Connecticut. It led to power outages and interruptions to public transportation that made life miserable for millions, and the clamor for federal relief began almost immediately.
Democrats were more politically pointed as they brushed back Southern conservatives who sought either to reduce the measure or offset part of its cost through spending cuts elsewhere in the budget.
"I just plead with my colleagues not to have a double standard," said Rep. Carolyn Maloney of New York. "Not to vote tornado relief to Alabama, to Louisiana, to Mississippi, Missouri, to — with Ike, Gustav, Katrina, Rita — but when it comes to the Northeast, with the second-worst storm in the history of our country, to delay, delay, delay."
One key bipartisan vote came on a successful attempt by Republican Rep. Rodney Freylinghuysen of New Jersey to add $33.7 billion to an original allotment of $17 billion in aid.
Earlier, conservatives failed in an attempt to offset a part of the bill's cost with across-the-board federal budget cuts. The vote was 258-162.
Republican Rep. Mark Mulvaney, arguing for the reduction, said he wasn't trying to torpedo the aid package, only to pay for it.
Critics said the proposed spending cuts would crimp defense spending as well as domestic programs and said the storm aid should be approved without reductions elsewhere.
The emerging House measure includes about $16 billion to repair transit systems in New York and New Jersey and a similar amount for housing and other needs in the affected area. An additional $5.4 billion would go to the Federal Emergency and Management Agency for disaster relief, and $2 billion is ticketed for restoration of highways damaged or destroyed in the storm.
The Senate approved a $60 billion measure in the final days of the Congress that expired on January 3, and a House vote had been expected quickly.
But House Speaker John Boehner unexpectedly postponed the vote in the final hours of the expiring Congress as he struggled to calm conservatives unhappy that the House had just approved a separate measure to avoid the so-called fiscal cliff — across-the-board tax hikes and spending cuts — by raising tax rates on the wealthy.
The delay drew a torrent of criticism, much of it from other Republicans.
"There's only one group to blame for the continued suffering of these innocent victims, the House majority and their speaker, John Boehner," New Jersey Gov. Chris Christie said on the day after the delay was announced. Rep. Pete King of New York added that campaign donors in the Northeast who give to Republicans "should have their head examined."
Less than two weeks later, the leadership brought legislation to the floor under ground rules designed to satisfy as many Republicans as possible while retaining support from Democrats eager to approve as much in disaster aid as possible.
Across the capitol, majority Democrats indicated they would probably not seek changes.
"While the House bill is not quite as good as the Senate bill, it is certainly close enough," Sen. Charles Schumer of New York said. "We will be urging the Senate to speedily pass the House bill and send it to the president's desk."
Congress has already approved a $9.7 billion increase in a fund to pay federal flood insurance claims, much of it expected to benefit victims of Sandy.
In the weeks since the storm hit, the Federal Emergency Management Agency has spent about $3.1 billion for construction of shelters, restoration of power and other immediate needs after the late-October storm pounded the Atlantic Coast with hurricane-force winds and coastal flooding.
Officials say Sandy is the most costly natural disaster since Hurricane Katrina in 2005. The storm damaged or destroyed 305,000 housing units in New York, and more than 265,000 businesses were disrupted there, officials have said. In New Jersey, more than 346,000 households were destroyed or damaged, and more than 40,000 families remain living out of their homes, according to officials.
China to survey islands disputed with Japan: Xinhua
China is to carry out a geographical survey of islands in the East China Sea at the centre of a bitter dispute with Japan.
BEIJING: Beijing is to carry out a geographical survey of islands in the East China Sea, state media said on Tuesday, the latest salvo in an increasingly tense dispute with Tokyo over the uninhabited territory.
The announcement came as Japanese fighter jets were scrambled in response to a Chinese state-owned Y-12 plane flying close to -- but not inside -- the islands' airspace, according to Tokyo's defence ministry.
Separately, official Chinese media reported that Beijing's armed forces have been instructed this year to train for battle, while a Tokyo official said US and Japanese fighter jets carried out joint air exercises.
This week's tensions come after Japan's hawkish Shinzo Abe won a landslide election victory following campaign promises to re-invigorate Tokyo's security alliance with Washington and take a more robust line against Beijing.
The dispute over the islands, known as Diaoyu in Beijing and Senkaku by Tokyo, which controls them, has simmered on and off for years but intensified in 2012 when Japan nationalised those it did not already own, triggering anger and demonstrations in China.
The protests were allowed to take place by the Communist authorities in Beijing, who use nationalism to bolster their claims to legitimacy, particularly regarding Japan, which occupied parts of China in the 20th century.
China has repeatedly sent maritime surveillance ships to the area and carried out naval exercises, and both Tokyo and Beijing have scrambled fighter jets to the area in recent weeks in a further escalation.
Commentators say Beijing wants to prove that Japan does not have effective control over the chain to draw Tokyo into concessions.
The cartographic survey was part of a programme to map China's "territorial islands and reefs" and safeguard its "maritime rights and interests", the official Xinhua news agency said, without saying when it would take place.
It did not make clear whether it would involve activities on land or be purely sea-based, but quoted Zhang Huifeng, of China's National Administration of Surveying, Mapping and Geoinformation, acknowledging there could be "difficulties".
"There are some difficulties in landing on some islands to survey, and in surveying and mapping the surrounding sea area of the islands, because some countries infringed and occupied these islands of China," he said.
Stephanie Kleine-Ahlbrandt, Northeast Asia director at the International Crisis Group, said in an e-mail: "Beijing's goal is to establish as much presence -- if not more than -- Japan in the area to demonstrate its sovereignty.
"A geological survey is another step in this direction. China has made it clear that there is no going back to the status quo in which Japan largely administered the disputed islands on its own."
In September Beijing announced the "base points and baselines of the territorial waters of the Diaoyu Islands", filing details with the United Nations as part of the diplomatic sparring over the issue.
China's State Oceanic Administration also released geographic information including "location maps, three-dimension effect graphs and sketch maps for the Diaoyu Islands", Xinhua added.
While there have been no actual clashes between the two countries' forces in the area, Chinese state media said Beijing's military had been instructed to raise their fighting ability in 2013 and "should focus closely on the objective of being able to fight and win a battle".
Off Japan, six US FA-18 fighters and around 90 American personnel, with four Japanese F-4 jets and an unspecified number of people, carried out joint training exercises in the Pacific, an official said.
The five-day drill followed the nation's first military exercise designed to recapture "a remote island invaded by an enemy force" on Sunday.
In October Japan and the US dropped plans for a joint drill to simulate the retaking of a remote island, reportedly because Tokyo did not wish to provoke Beijing further.
Halimah Yacob (58) became the first woman and the 9th Speaker of the Singapore Parliament on 14 January 2013. She replaced Michael Palmer, the former People's Action Party MP. Palmer got down from the post of Speaker of the Parliament and as an MP on 12 December 2012. Prime Minister of Singapore, Lee Hsien Loong nominated her for the designation of speaker.
Halimah Yacob came down from her post of Minister of State (Social and Family Development) and was elected as the Speaker by Members of Parliament. In her role, she is expected to play an independent role during all the parliamentary debates, but she stressed the fact that she would remain ahead for the Singaporeans' concerns and would also share the views on various policies.
Various MPs stood up in favour of the appointment of Halimah Yacob in the Parliament, which also highlighted the importance to women as well as the Malay-Muslim community.
About Halimah Yacob
Halimah Yacob, 58, is an Indian-origin woman born in Singapore. She belongs to the People's Action Party. She has remained the Minister of State, Ministry of Community Development, Youth and Sports from 21 May 2011 to 31 October 2012. She has also held office as the Minister of State, Ministry of Social and Family Development from 1 November 2012 to 13 January 2013.
NEW APPOINTMENTS
1. Kapil Chopra has been appointed as President, The Oberoi Group. Mr. Chopra will be responsible for all The Oberoi and Trident Hotels in India.
Mr. Chopra was the Executive Vice-President of the Group, and was instrumental in opening the two flagship properties -The Oberoi and Trident in Gurgaon, according to a company release.
He will report to Chief Operating Officer and Joint Managing director Vikram Oberoi.
2. Eicher Motors, on Tuesday, said its two-wheelers division Royal Enfield had made top-level changes with its Chief Executive Officer Venki Padmanabhan taking over as the Head of New Initiatives for Eicher Motors.
Following this, the company had announced B. Govindarajan as the new Chief Operating Officer of Royal Enfield.
3. Bharti Airtel, on Tuesday, said Sanjay Kapoor, CEO (India and South Asia), had resigned from the company and Gopal Vittal would take over as the head of its Indian operations with effect from March 1.
“After almost 15 years of illustrious innings at Bharti Group, Sanjay Kapoor, CEO (India and South Asia), Bharti Airtel, has decided to pursue his future aspirations outside of Bharti,” the company said in a statement, announcing some top level changes. Mr. Kapoor would, however, continue to be on the Board of Indus Towers and Bharti Global, the statement said.
Mr. Gopal will be responsible for defining and delivering the business strategy and providing overall leadership for Airtel’s India operations.
4. Halimah Yacob (58) became the first woman and the 9th Speaker of the Singapore Parliament on 14 January 2013. She replaced Michael Palmer, the former People's Action Party MP. Palmer got down from the post of Speaker of the Parliament and as an MP on 12 December 2012. Prime Minister of Singapore, Lee Hsien Loong nominated her for the designation of speaker.
Halimah Yacob came down from her post of Minister of State (Social and Family Development) and was elected as the Speaker by Members of Parliament. In her role, she is expected to play an independent role during all the parliamentary debates, but she stressed the fact that she would remain ahead for the Singaporeans' concerns and would also share the views on various policies.
Various MPs stood up in favour of the appointment of Halimah Yacob in the Parliament, which also highlighted the importance to women as well as the Malay-Muslim community.
About Halimah Yacob
Halimah Yacob, 58, is an Indian-origin woman born in Singapore. She belongs to the People's Action Party. She has remained the Minister of State, Ministry of Community Development, Youth and Sports from 21 May 2011 to 31 October 2012. She has also held office as the Minister of State, Ministry of Social and Family Development from 1 November 2012 to 13 January 2013.
1. India Meteorology Department (IMD) is all set to enter a new field of activity. On Tuesday, the apex weather agency will launch a mobile application through which current weather observations and four-day forecasts for weather stations in the four metros — Delhi, Chennai, Kolkata and Mumbai can be accessed on near real time basis through mobile phones..
A team of experts at IMD have developed an application called “Indian-weather” that can be downloaded free of cost from Google Play, available on android-based smart phones and tablets.
Once downloaded, the application will enable the user to access the current weather observations along with four-day forecasts from meteorological stations in the four metros.
Speaking to The Hindu, IMD Director General, L.S. Rathore, said more value added services like weather bulletins, alerts, and agro-meteorological advisories would be added over the coming months based on feedback from users.
Noting that location-specific weather information and forecast were already available on IMD’s website, he said the new application has been thought of to help reach a larger number of people considering there are a lot more people who have access to smart phones than to computers.
Over the next eight to 10 months, the IMD would try to not only expand the repertoire of services but also strive to cover all types of phones apart from android based smart phones, he added.
The new application will be launched by Union Minister for Science and Technology, Jaipal Reddy, on the occasion of IMD’s 138th foundation day.
1. Hindustan National Glass & Industries (HNGIL) has decided to sell 42.6 per cent stake in group company HNG Floatglass Ltd (HNGFL) to a Turkish firm for an undisclosed amount.
The Somany family, the promoters of HNGIL, together with others will thus see a paring of their present 87.6 per cent share in HNGFL to around 45 per cent.
The Somany family holds about 40.2 per cent in HNGFL, HNGIL holds 47.4 per cent and IFC, Washington, around 12.4 per cent. All three continue to remain equity shareholders but with lesser portions.
2. Austrian firm RHI AG, a leading global refractories maker, on Tuesday, entered into an agreement to buy 43.6 per cent of the promoters’ stake in Orient Refractories Ltd. (ORL) for nearly Rs.230 crore.
“Orient Abrasives, S. G. Rajgarhia along with other promoters of ORL have entered into a share purchase agreement today [Tuesday] with Dutch US Holding, the Netherlands, an entity owned by RHI AG, Austria, for sale of 5.24 crore shares held by them in the company (aggregating 43.62 per cent) at a price of Rs.43 per share,” ORL said in a BSE filing.
ORL produces refractories and monolithics for use in iron and steel industry. Listed on the National Stock Exchange and the Bombay Stock Exchange, the company had clocked Rs.300 crore sales in the last fiscal.
ORL’s manufacturing and R&D facility is based in Bhiwadi, Rajasthan.
RHI would make an open offer to the public shareholders for up to an additional 26 per cent of the shares of ORL at Rs.43 per share, it added.
“S. G. Rajgarhia will carry on as a member of the future board of directors of ORL as he will continue to own below 5 per cent of the shares,” RHI AG said.
ORL’s shares on Tuesday settled at Rs.36.95 apiece, down 6.10 per cent on the BSE over the previous closing.
3. Welspun Energy, on Tuesday, announced its plans to set up a research laboratory in Gujarat for advancement of solar technology in partnership with Gujarat Energy Research and Management Institute (GERMI).
In a statement here, the company said the proposed laboratory would study different solar technologies for their performance in Indian terrain and climatic conditions. A MoU has been signed with Pandit Deendayal Petroleum University (PDPU) in this connection recently. “Welspun Energy has been stressing the need to develop indigenous solar energy research and study facilities. Results of these studies can greatly help independent power producers (IPPs) such as Welspun Energy in improving performance of their solar power projects,” the statement said.
The organisation will also be working closely with students. Welspun Energy will be designing and offering internship programmes to students of University’s Solar Programme. Welspun Co-Founder and Managing Director Vineet Mittal said solar energy industry in India was still young, with some amount of research carried out in India for standardisation and technology selection. A student exchange programme had also been initiated by Welspun Energy with the Singapore Management University, he added.
The Indian leadership had to "catch up" with Pakistan in the matter of striving for peace with, Khar gratuitously told the Charlie Rose show, while presenting her country’s version of what transpired at the LoC and denying the Indian account the soldier’s beheading.
WASHINGTON: The disconnect between Pakistan's adrift and enfeebled civilian government and its out-of-control military was on show in the US last night when the country's foreign minister Hina Rabbani Khar insisted Islamabad wanted to resolve issues through dialogue rather than military actions despite the alleged depredations of its army resulting in the beheading of an Indian soldier.
The Indian leadership had to "catch up" with Pakistan in the matter of striving for peace with, Khar gratuitously told the Charlie Rose show, while presenting her country's version of what transpired at the LoC and denying the Indian account the soldier's beheading.
Khar arrived in the US to attend a special session of the UN Security Council of which Pakistan is the Chairman for the month of January even as her toxic country was imploding from a shadowy confrontation involving the judiciary, military, and clerical-political forces. But she presented the voice of sweet reason before American TV audience, maintaining that Islamabad was striving for peace and describing the Indian Army Chief's warning to Pakistan as "very hostile."
"After the comments by the army chief I am taken back by 20 years," Khar said on show aired on PBS.
Charlie Rose: What did he say?
Khar: Just very hostile comments.
The Indian Army Chief Gen Bikram Singh had warned Pakistan that India reserves the right to retaliate at the "time and place" of its choosing, suggesting that the border spat is not going to be buried anytime soon. India's political leadership too appeared to be responding with spine after initial timidity, following popular anger and media outcry.
Khar said Pakistan was "not very pleasantly surprised" by the comments it heard from India and gratuitously added "I think this is what has changed in Pakistan where India needs to catch up." Pakistan, she said, today presents a country "which is very clear in its head as to how it wants to operate with its neighbors."
"And the way we want to operate with our neighbors is to try and build on the trust to take care of and then build that trust enough to be able to build an environment in which we can take care of the disputes that we have on the dialogue table rather than through military statements and through military actions," she added.
While the Pakistan foreign minister's statements were mainly meant for western consumption, it is no great secret among analysts here that the country's civilian government has little control or leverage over the military, which plays by its own jihadi rule book both in its eastern and western front. There has been speculation in expert circles that the Pakistani military or sections of it could be turning up the heat on its eastern front with India to rein in and redirect some of the jihadi forces which are attacking the military.
On Tuesday, the regionalists were also riveted to the new power struggle in Islamabad with little attention paid to India's fulminations on the border incident.
In Khar's version of the border incident, it was Indian forces which came 400 meters inside Pakistani territory for an attack which resulted in the death of a Pakistani soldier. "Now just two days after that or three days after that, we had an allegation which was made that two Indian soldiers were killed by Pakistani fighting which we looked into and we could find no evidence that Pakistani troops had done that. And then of course, there were extremely conflicting statements that the heads were decapitated," Khar narrated, capitalizing on the initial mixed messages that came from India.
"The northern commander spokesperson who is the person on the ground said they weren't (beheaded). Others said they were," she added, suggesting that the issue had become embroiled in domestic politics
China should strengthen force on Indian border, researcher says
“China should strengthen its supervision and control over the border area with India," Fu Xiaoqiang, researcher from the China Institute of Contemporary International Relations, said.
BEIJING: A Chinese expert has advised the government to increase supervision on its border with India after New Delhi's decision to form a new mountain strike corps for the 3,380km-long border that the two countries share in total.
Reacting to a news report in The Times of India, Fu Xiaoqiang, researcher from the China Institute of Contemporary International Relations, said, "China should strengthen its supervision and control over the border area with India."
The formation of a new corps shows India sees China as its military competitor, Fu was quoted by Beijing-based newspaper the Global Times.
The TOI report said that the new corps, having around 40,000 soldiers, will be formed during India's 12th Five-Year Plan from 2012 to 2017, at an estimated cost of 810 billion rupees ($14.9 billion). The idea is to build the capability of launching counter-offensives into the Tibet Autonomous Region against potential "Chinese attacks."
However, Fu felt the Indian proposal has little relation to a military exercise carried out by the Chinese air force over the Tibet Autonomous Region in December. It is part of India's overall plan to strengthen its military power along its border with China, he said.
India’s troubled borders
Of all the legacies the British Empire left behind in South Asia nothing may have such a lasting impact as the arbitrary borders they drew on maps during their two centuries of colonisation. These troubled borders have divided communities, united disparate groups, and forever spelt trouble for all the countries in the region. India seems to be carrying the heaviest burden of the white man's whims in South Asia, the brutal killing of two of its soldiers along the Line of Control being the latest example of it.
Not just Pakistan, those strokes across maps have been a key factor for wars or tension between India and China, Bangladesh and India, Pakistan and Afghanistan etc. Along the India-China border world's biggest conventional military build-up is quietly happening, while the Pakistan-India borders remain perpetually tense, and occasionally turn into conflict zones.
Between Afghanistan and Pakistan the unifying aspects of a single religion pale before the troubles brought about by Durand Line, the 2,640-km border between the two countries that cuts through Pashtun land. Named after the then foreign secretary of undivided India Henry Mortimer Durand , the boundary was the product of negotiations between British Empire and the Afghan ruler Amir Abdul Rahman Khan, with scant regard for the fact that they were cutting through Pashtun territories and splitting tribes. In the Amir's defence, some say the single-page agreement that he signed was in English, a language he could neither read nor write. The process of physically transferring the frontier line on the ground was quite complex and very brutal, given the fact that one line can translate into a four-mile stretch on the ground. And with its many topographical errors, it is a challenge that continues to haunt the region. Pashtun people remain divided, and Pakistan and Afghanistan remain locked in the dispute.
India's security fortunes are intrinsically linked to the fate of the porous Durand Line since the relations between Pakistan and Afghanistan have had a dramatic impact on India for decades. At the height of the Cold War this porous border was exploited by the US and Pakistan to supply arms to the mujahideen ag ainst Soviets, it created the template for the armed Kashmir insurgency that would begin in the late 80s. In the 90s, this porous border helped Pakistan to create Taliban , effectively ending India's influence in Kabul.
Many fronts
The latest round of ceasefire violations, the beheading of Indian soldier and the resultant escalation of tension between the two sides is only the latest in a series of angry stand-offs between India and Pakistan that draw its genesis mostly on the haphazard way the British drew up boundaries of the two nations.
Though the Line of Control itself is not a British product, its boundaries of Kashmir have hugely contributed to the tension over the region between India, Pakistan and China. While China occupies Aksai Chin, India stakes claim to it. Both have different maps prepared by British to validate their claims. China also occupies the trans-Karakoram tract, gifted to it by Pakistan in 1963. By Indian claims that too is part of undivided Jammu and Kashmir which belongs to India.
The story is not very different in the northeast, where most of the 4,057-kilometer Line of Actual Control exists. The McMahon Line — named after Henry McMahon, yet another foreign secretary of the government of India whose name has been given to a boundary — was drawn up in 1914 between the British Empire and Tibet. China, which was not represented at the Simla conference, doesn't recognise this boundary officially, though most parts of it are now the de facto Line of Actual Control.
Along the Line of Actual Control, as two of the world's fastest economies grow in a quick pace their military preparedness is also scaling up. Today, this border is witnessing an unusual military build-up , which is visible nowhere else in the world. The temporary peace of the border is not a guarantee of perpetual peace for the future.
The curse of the British-drawn boundaries is most visible in the continuing bitterness between India, Pakistan and Bangladesh. Most of their borders were drawn in a matter of few weeks by a man who had never been to the region until then. Sir Cyril Radcliffe chaired the border commissions that drew lines over maps hastily to create India and Pakistan, which later also gave birth to Bangladesh, and decided destinies of their people. These boundaries , in many instances, were haphazard and occasionally cut through villages , and all three countries continue to live through the complications thrown up by Radcliffe's lines.
Burying the past
The latest round of tension along the LoC between India and Pakistan raises a very troubling question. Do the south Asian countries have the political willpower to free themselves from the tyrannies of British boundaries to create a more peaceful future? How much more time and how many more lives will be necessary to create a political consensus across the region to readjust boundaries, make compromises and divert their energies away from the continuing militarisation of their boundaries.
5 ceasefire violations by Pak after flag meet
The fresh ceasefire violations since Monday afternoon were reported from the Mendhar, Balnoi and Uri sectors, which are also traditional infiltration routes.
JAMMU/NEW DELHI: The meandering 778-km Line of Control (LoC) remains red-hot, with Pakistan violating the ceasefire at least five times after the Brigadier-level flag meeting was held at the Chakkan-Da-Bagh crossing point in Poonch district on Monday afternoon.
"Pakistan came to the flag meeting with a prepared script...He (the Pakistani brigadier) read out from a prepared text and denied everything. Even after the flag meeting, there were three ceasefire violations. They fired from small arms as well as mortars," said Lt-General K T Parnaik, who as the Northern Army Command chief is responsible for the LoC as well as J&K.
The senior officer said Pakistan chose to remain in "denial mode" during the flag meeting despite all evidence that Pakistani Army's SSG commandos had intruded well into Indian territory in the Mendhar sector and beheaded Lance-Naik Hemraj of the 13 Rajputana Rifles, apart from mutilating the body of Lance-Naik Sudhakar Singh, on January 8.
This comes a day after Army chief General Bikram Singh said he had instructed all battalion commanders on the LoC to retaliate "aggressively and offensively" if the Pakistani Army provokes them by violating the ceasefire or pushing militants into J&K.
The fresh ceasefire violations since Monday afternoon were reported from the Mendhar, Balnoi and Uri sectors, which are also traditional infiltration routes. "We did not respond because they were not effective...we do not believe in reacting in haste and anger...We have lot of options and plans. We will react in time," said Lt-Gen Parnaik.
"We accused them (at the flag meeting) of carrying out the barbaric act...we insisted that the head (of Lance-Naik Hemraj) be returned. We also drew their attention to the frequent firing in the area," he added.
Apart from registering a strong protest about the "dastardly act", the Indian delegation at the flag meeting also presented a file with photographs to show landmines planted by Pakistani troops in forward areas inside Indian territory. Pakistan, however, rejected all the evidence, and instead accused India of cross-border raids and escalation in ceasefire violations.
Lt-Gen Parnaik said the infrastructure of terrorism was still "very much intact" across the border, with over 2,500 militants in 43 terror-training camps. Moreover, around 450 terrorists are present on "border launch pads" waiting for an opportunity to sneak into India, with militant outfits like Lashkar-e-Taiba (LeT) working in close conjunction with the Pakistani Army to launch attacks on India.
China readying for war with Japan?
BEIJING: China's armed forces have been instructed to raise their fighting ability in 2013, state media reported on Tuesday, amid heightened tensions with Japan over disputed islands. In 2013, "the PLA and the Chinese People's Armed Police Force should focus on the objective of being able to fight and win battle," according to a report in the overseas edition of the People's Daily newspaper, the Communist Party organ.
The directive came in a document released at the beginning of the year by the PLA general staff on military training in 2013, said the report, republished from a website linked to a PLA newspaper. To prepare for combat, the armed forces must also "vigorously strengthen real-combat-like military training" and intensify efforts to cultivate high-calibre military personnel, the report said.
US House approves $50.7 billion in superstorm Sandy aid
Sandy roared through several states in late October and has been blamed for 140 deaths and billions of dollars in residential and business property damage, much of it in New York, New Jersey and Connecticut.
WASHINGTON: The Republican-controlled House of Representatives approved $50.7 billion in emergency relief for Superstorm Sandy victims on Tuesday night, ending an episode that exposed painful party divisions more than 10 weeks after the storm brutalized parts of the heavily populated Northeast.
The vote was 241-180, and officials said the Senate was likely to accept the measure early next week and send it to President Barack Obama for his signature. Democrats supported the aid in large numbers, but there was substantial Republican backing, too, in the Republican-controlled House.
"We are not crying wolf here," said Republican Rep. Chris Smith of New Jersey, one of a group of Northeastern lawmakers from both parties who sought House passage of legislation roughly in line with what the Obama administration and governors of the affected states have sought.
Sandy roared through several states in late October and has been blamed for 140 deaths and billions of dollars in residential and business property damage, much of it in New York, New Jersey and Connecticut. It led to power outages and interruptions to public transportation that made life miserable for millions, and the clamor for federal relief began almost immediately.
Democrats were more politically pointed as they brushed back Southern conservatives who sought either to reduce the measure or offset part of its cost through spending cuts elsewhere in the budget.
"I just plead with my colleagues not to have a double standard," said Rep. Carolyn Maloney of New York. "Not to vote tornado relief to Alabama, to Louisiana, to Mississippi, Missouri, to — with Ike, Gustav, Katrina, Rita — but when it comes to the Northeast, with the second-worst storm in the history of our country, to delay, delay, delay."
One key bipartisan vote came on a successful attempt by Republican Rep. Rodney Freylinghuysen of New Jersey to add $33.7 billion to an original allotment of $17 billion in aid.
Earlier, conservatives failed in an attempt to offset a part of the bill's cost with across-the-board federal budget cuts. The vote was 258-162.
Republican Rep. Mark Mulvaney, arguing for the reduction, said he wasn't trying to torpedo the aid package, only to pay for it.
Critics said the proposed spending cuts would crimp defense spending as well as domestic programs and said the storm aid should be approved without reductions elsewhere.
The emerging House measure includes about $16 billion to repair transit systems in New York and New Jersey and a similar amount for housing and other needs in the affected area. An additional $5.4 billion would go to the Federal Emergency and Management Agency for disaster relief, and $2 billion is ticketed for restoration of highways damaged or destroyed in the storm.
The Senate approved a $60 billion measure in the final days of the Congress that expired on January 3, and a House vote had been expected quickly.
But House Speaker John Boehner unexpectedly postponed the vote in the final hours of the expiring Congress as he struggled to calm conservatives unhappy that the House had just approved a separate measure to avoid the so-called fiscal cliff — across-the-board tax hikes and spending cuts — by raising tax rates on the wealthy.
The delay drew a torrent of criticism, much of it from other Republicans.
"There's only one group to blame for the continued suffering of these innocent victims, the House majority and their speaker, John Boehner," New Jersey Gov. Chris Christie said on the day after the delay was announced. Rep. Pete King of New York added that campaign donors in the Northeast who give to Republicans "should have their head examined."
Less than two weeks later, the leadership brought legislation to the floor under ground rules designed to satisfy as many Republicans as possible while retaining support from Democrats eager to approve as much in disaster aid as possible.
Across the capitol, majority Democrats indicated they would probably not seek changes.
"While the House bill is not quite as good as the Senate bill, it is certainly close enough," Sen. Charles Schumer of New York said. "We will be urging the Senate to speedily pass the House bill and send it to the president's desk."
Congress has already approved a $9.7 billion increase in a fund to pay federal flood insurance claims, much of it expected to benefit victims of Sandy.
In the weeks since the storm hit, the Federal Emergency Management Agency has spent about $3.1 billion for construction of shelters, restoration of power and other immediate needs after the late-October storm pounded the Atlantic Coast with hurricane-force winds and coastal flooding.
Officials say Sandy is the most costly natural disaster since Hurricane Katrina in 2005. The storm damaged or destroyed 305,000 housing units in New York, and more than 265,000 businesses were disrupted there, officials have said. In New Jersey, more than 346,000 households were destroyed or damaged, and more than 40,000 families remain living out of their homes, according to officials.
China to survey islands disputed with Japan: Xinhua
China is to carry out a geographical survey of islands in the East China Sea at the centre of a bitter dispute with Japan.
BEIJING: Beijing is to carry out a geographical survey of islands in the East China Sea, state media said on Tuesday, the latest salvo in an increasingly tense dispute with Tokyo over the uninhabited territory.
The announcement came as Japanese fighter jets were scrambled in response to a Chinese state-owned Y-12 plane flying close to -- but not inside -- the islands' airspace, according to Tokyo's defence ministry.
Separately, official Chinese media reported that Beijing's armed forces have been instructed this year to train for battle, while a Tokyo official said US and Japanese fighter jets carried out joint air exercises.
This week's tensions come after Japan's hawkish Shinzo Abe won a landslide election victory following campaign promises to re-invigorate Tokyo's security alliance with Washington and take a more robust line against Beijing.
The dispute over the islands, known as Diaoyu in Beijing and Senkaku by Tokyo, which controls them, has simmered on and off for years but intensified in 2012 when Japan nationalised those it did not already own, triggering anger and demonstrations in China.
The protests were allowed to take place by the Communist authorities in Beijing, who use nationalism to bolster their claims to legitimacy, particularly regarding Japan, which occupied parts of China in the 20th century.
China has repeatedly sent maritime surveillance ships to the area and carried out naval exercises, and both Tokyo and Beijing have scrambled fighter jets to the area in recent weeks in a further escalation.
Commentators say Beijing wants to prove that Japan does not have effective control over the chain to draw Tokyo into concessions.
The cartographic survey was part of a programme to map China's "territorial islands and reefs" and safeguard its "maritime rights and interests", the official Xinhua news agency said, without saying when it would take place.
It did not make clear whether it would involve activities on land or be purely sea-based, but quoted Zhang Huifeng, of China's National Administration of Surveying, Mapping and Geoinformation, acknowledging there could be "difficulties".
"There are some difficulties in landing on some islands to survey, and in surveying and mapping the surrounding sea area of the islands, because some countries infringed and occupied these islands of China," he said.
Stephanie Kleine-Ahlbrandt, Northeast Asia director at the International Crisis Group, said in an e-mail: "Beijing's goal is to establish as much presence -- if not more than -- Japan in the area to demonstrate its sovereignty.
"A geological survey is another step in this direction. China has made it clear that there is no going back to the status quo in which Japan largely administered the disputed islands on its own."
In September Beijing announced the "base points and baselines of the territorial waters of the Diaoyu Islands", filing details with the United Nations as part of the diplomatic sparring over the issue.
China's State Oceanic Administration also released geographic information including "location maps, three-dimension effect graphs and sketch maps for the Diaoyu Islands", Xinhua added.
While there have been no actual clashes between the two countries' forces in the area, Chinese state media said Beijing's military had been instructed to raise their fighting ability in 2013 and "should focus closely on the objective of being able to fight and win a battle".
Off Japan, six US FA-18 fighters and around 90 American personnel, with four Japanese F-4 jets and an unspecified number of people, carried out joint training exercises in the Pacific, an official said.
The five-day drill followed the nation's first military exercise designed to recapture "a remote island invaded by an enemy force" on Sunday.
In October Japan and the US dropped plans for a joint drill to simulate the retaking of a remote island, reportedly because Tokyo did not wish to provoke Beijing further.
Halimah Yacob (58) became the first woman and the 9th Speaker of the Singapore Parliament on 14 January 2013. She replaced Michael Palmer, the former People's Action Party MP. Palmer got down from the post of Speaker of the Parliament and as an MP on 12 December 2012. Prime Minister of Singapore, Lee Hsien Loong nominated her for the designation of speaker.
Halimah Yacob came down from her post of Minister of State (Social and Family Development) and was elected as the Speaker by Members of Parliament. In her role, she is expected to play an independent role during all the parliamentary debates, but she stressed the fact that she would remain ahead for the Singaporeans' concerns and would also share the views on various policies.
Various MPs stood up in favour of the appointment of Halimah Yacob in the Parliament, which also highlighted the importance to women as well as the Malay-Muslim community.
About Halimah Yacob
Halimah Yacob, 58, is an Indian-origin woman born in Singapore. She belongs to the People's Action Party. She has remained the Minister of State, Ministry of Community Development, Youth and Sports from 21 May 2011 to 31 October 2012. She has also held office as the Minister of State, Ministry of Social and Family Development from 1 November 2012 to 13 January 2013.
NEW APPOINTMENTS
1. Kapil Chopra has been appointed as President, The Oberoi Group. Mr. Chopra will be responsible for all The Oberoi and Trident Hotels in India.
Mr. Chopra was the Executive Vice-President of the Group, and was instrumental in opening the two flagship properties -The Oberoi and Trident in Gurgaon, according to a company release.
He will report to Chief Operating Officer and Joint Managing director Vikram Oberoi.
2. Eicher Motors, on Tuesday, said its two-wheelers division Royal Enfield had made top-level changes with its Chief Executive Officer Venki Padmanabhan taking over as the Head of New Initiatives for Eicher Motors.
Following this, the company had announced B. Govindarajan as the new Chief Operating Officer of Royal Enfield.
3. Bharti Airtel, on Tuesday, said Sanjay Kapoor, CEO (India and South Asia), had resigned from the company and Gopal Vittal would take over as the head of its Indian operations with effect from March 1.
“After almost 15 years of illustrious innings at Bharti Group, Sanjay Kapoor, CEO (India and South Asia), Bharti Airtel, has decided to pursue his future aspirations outside of Bharti,” the company said in a statement, announcing some top level changes. Mr. Kapoor would, however, continue to be on the Board of Indus Towers and Bharti Global, the statement said.
Mr. Gopal will be responsible for defining and delivering the business strategy and providing overall leadership for Airtel’s India operations.
4. Halimah Yacob (58) became the first woman and the 9th Speaker of the Singapore Parliament on 14 January 2013. She replaced Michael Palmer, the former People's Action Party MP. Palmer got down from the post of Speaker of the Parliament and as an MP on 12 December 2012. Prime Minister of Singapore, Lee Hsien Loong nominated her for the designation of speaker.
Halimah Yacob came down from her post of Minister of State (Social and Family Development) and was elected as the Speaker by Members of Parliament. In her role, she is expected to play an independent role during all the parliamentary debates, but she stressed the fact that she would remain ahead for the Singaporeans' concerns and would also share the views on various policies.
Various MPs stood up in favour of the appointment of Halimah Yacob in the Parliament, which also highlighted the importance to women as well as the Malay-Muslim community.
About Halimah Yacob
Halimah Yacob, 58, is an Indian-origin woman born in Singapore. She belongs to the People's Action Party. She has remained the Minister of State, Ministry of Community Development, Youth and Sports from 21 May 2011 to 31 October 2012. She has also held office as the Minister of State, Ministry of Social and Family Development from 1 November 2012 to 13 January 2013.
1. India Meteorology Department (IMD) is all set to enter a new field of activity. On Tuesday, the apex weather agency will launch a mobile application through which current weather observations and four-day forecasts for weather stations in the four metros — Delhi, Chennai, Kolkata and Mumbai can be accessed on near real time basis through mobile phones..
A team of experts at IMD have developed an application called “Indian-weather” that can be downloaded free of cost from Google Play, available on android-based smart phones and tablets.
Once downloaded, the application will enable the user to access the current weather observations along with four-day forecasts from meteorological stations in the four metros.
Speaking to The Hindu, IMD Director General, L.S. Rathore, said more value added services like weather bulletins, alerts, and agro-meteorological advisories would be added over the coming months based on feedback from users.
Noting that location-specific weather information and forecast were already available on IMD’s website, he said the new application has been thought of to help reach a larger number of people considering there are a lot more people who have access to smart phones than to computers.
Over the next eight to 10 months, the IMD would try to not only expand the repertoire of services but also strive to cover all types of phones apart from android based smart phones, he added.
The new application will be launched by Union Minister for Science and Technology, Jaipal Reddy, on the occasion of IMD’s 138th foundation day.
1. Hindustan National Glass & Industries (HNGIL) has decided to sell 42.6 per cent stake in group company HNG Floatglass Ltd (HNGFL) to a Turkish firm for an undisclosed amount.
The Somany family, the promoters of HNGIL, together with others will thus see a paring of their present 87.6 per cent share in HNGFL to around 45 per cent.
The Somany family holds about 40.2 per cent in HNGFL, HNGIL holds 47.4 per cent and IFC, Washington, around 12.4 per cent. All three continue to remain equity shareholders but with lesser portions.
2. Austrian firm RHI AG, a leading global refractories maker, on Tuesday, entered into an agreement to buy 43.6 per cent of the promoters’ stake in Orient Refractories Ltd. (ORL) for nearly Rs.230 crore.
“Orient Abrasives, S. G. Rajgarhia along with other promoters of ORL have entered into a share purchase agreement today [Tuesday] with Dutch US Holding, the Netherlands, an entity owned by RHI AG, Austria, for sale of 5.24 crore shares held by them in the company (aggregating 43.62 per cent) at a price of Rs.43 per share,” ORL said in a BSE filing.
ORL produces refractories and monolithics for use in iron and steel industry. Listed on the National Stock Exchange and the Bombay Stock Exchange, the company had clocked Rs.300 crore sales in the last fiscal.
ORL’s manufacturing and R&D facility is based in Bhiwadi, Rajasthan.
RHI would make an open offer to the public shareholders for up to an additional 26 per cent of the shares of ORL at Rs.43 per share, it added.
“S. G. Rajgarhia will carry on as a member of the future board of directors of ORL as he will continue to own below 5 per cent of the shares,” RHI AG said.
ORL’s shares on Tuesday settled at Rs.36.95 apiece, down 6.10 per cent on the BSE over the previous closing.
3. Welspun Energy, on Tuesday, announced its plans to set up a research laboratory in Gujarat for advancement of solar technology in partnership with Gujarat Energy Research and Management Institute (GERMI).
In a statement here, the company said the proposed laboratory would study different solar technologies for their performance in Indian terrain and climatic conditions. A MoU has been signed with Pandit Deendayal Petroleum University (PDPU) in this connection recently. “Welspun Energy has been stressing the need to develop indigenous solar energy research and study facilities. Results of these studies can greatly help independent power producers (IPPs) such as Welspun Energy in improving performance of their solar power projects,” the statement said.
The organisation will also be working closely with students. Welspun Energy will be designing and offering internship programmes to students of University’s Solar Programme. Welspun Co-Founder and Managing Director Vineet Mittal said solar energy industry in India was still young, with some amount of research carried out in India for standardisation and technology selection. A student exchange programme had also been initiated by Welspun Energy with the Singapore Management University, he added.
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