Subramaniam Sharma, Greenback Forex Services said, "The rupee is likely to open flat below 54.80/USD and may trade in a very narrow range. The rupee could gain on the recovery in euro. The range for the day is seen between 54.50-54.90/USD."
By Toby Davis
LONDON (Reuters) - Champions Manchester City go into 2013 facing a daunting seven-point deficit on Premier League leaders Manchester United and a testing encounter against stubborn Stoke City on Tuesday.
Roberto Mancini's side ended the year which delivered their first Premier League title with a gritty 4-3 triumph over Norwich City, proving their high-profile players also have the mettle for a fight.
It is early days in the long title run-in but United, who travel to Wigan Athletic on New Year's Day, are traditionally strong in the second half of the campaign.
Mancini, however, does not need to trawl the memory banks too far for inspiration as United threw away an eight-point advantage with only six games left to play last season.
"We showed we are there for the title," Mancini said after his team displayed their steely core to beat Norwich despite Samir Nasri's sending-off just before halftime.
"We won't leave this title easily and will fight every game. With 10 players the guys were fantastic. For us, now it is not important to look at the table.
"We only need to work, to win as many games in a row as we can, and maybe in February we will look again at the table."
Stoke's trench-warfare approach may not win many plaudits from the aesthetically minded but they will certainly provide City with a physical challenge.
They are one of the Premier League's most resilient teams and have gone 10 matches without defeat after clawing back from 3-1 down to draw 3-3 with Southampton on Saturday.
They are far from the league's best travellers, however, having won only once away from home all season, and will be without suspended midfielder Steven N'Zonzi.
DEFENSIVE REINFORCEMENTS
United, who kept a clean sheet for the first time in seven matches in the 2-0 win over West Bromwich Albion on Saturday, should be able to call on defensive reinforcements in Phil Jones and Rafael for the trip to Wigan.
Jones missed last week's victory over Newcastle United after picking up a knock in the draw at Swansea last weekend, while Rafael has not featured since the Manchester derby this month because of a hamstring strain.
United's 1-0 defeat at Wigan late last season was a major factor in their failure to win the title but it was their first Premier League loss to their north-west neighbours in 16 matches.
Two teams enjoying a renaissance following mid-season wobbles are Arsenal and Chelsea who have both won their last four league games.
Chelsea, who play Queens Park Rangers on Wednesday, should prove too strong for the league's bottom club having tightened up at the back under interim manager Rafael Benitez.
Chelsea goalkeeper Petr Cech is doubtful having been withdrawn at halftime in Sunday's 2-1 comeback win over Everton with a strained leg muscle and there will be no John Terry who continues his recovery from a knee injury.
There was little sign of tightening up at the back for Arsenal as they shipped three goals against Newcastle on Saturday, but it mattered little as the Gunners showcased their full attacking armoury to find the net seven times.
Next up for Arsenal is a trip to Southampton where contract rebel Theo Walcott began his professional career.
Walcott, handed the central striking berth he craves, evoked memories of former Arsenal great Thierry Henry with a hat-trick that underlined his importance to the club and left manager Arsene Wenger hoping his contract impasse is swiftly resolved.
"My desire is to extend his contract, he belongs here and hopefully we can do it," the Frenchman said.
Fourth-placed Tottenham Hotspur will be without Gareth Bale at home to Reading after the Wales winger picked up his fifth booking of the season and third for diving in the last month.
Ninth-placed Liverpool, whose spirits were raised following a 3-0 win at QPR on Sunday, host Sunderland on Wednesday and Everton, in sixth, visit struggling Newcastle.
West Bromwich Albion play Fulham, Swansea City host Aston Villa and West Ham United face Norwich on Tuesday.
(Editing by Ed Osmond)
Sat, Dec 29, 2012 at 09:06
Like this story, share it with millions of investors on M3
08.15 SAMACHAR
08.15 SAMACHAR
Like this story, share it with millions of investors on M3
08.15 SAMACHAR
08.15 SAMACHAR
008.30 YEH ZINDAGI HAI GULSHAN: SERIAL 09.00 IMAGES 2012 09.30 CONTD 10.00 EK PREM KATHA: SERIAL 10.30 DETECTIVE KARAN: SERIAL 11.00 PORTRAIT OF DIRECTOR-RITWIK GHATAK 11.30 CONTD MONDAY 31ST DECEMBER, 2012 AM 00.00 UPANISHAD GANGA 00.30 TELE FILM 01.00 WOH HUE NA HAMARE: SERIAL 01.30 TELE FILM 02.00 NADOPASANA: SERIES 02.30 SERIES 03.00 TELEFILM 03.30 CONTD 04.00 NORTH EAST ROUNDUP 04.30 AARADHANA 05.00 GYAN DARSHAN (MORE) PTI DL DL
From Gurdip Singh Singapore, Dec 29 (PTI) The 23-year-old victim of the brutal gang rape and assault in Delhi that had triggered an outrage across India died early this morning here after putting up a brave battle for life for nearly a fortnight. The girl, who was admitted to the well-known multi-organ transplant facility Mount Elizabeth Hospital here on Thursday morning in an extremely critical condition, breathed her last at 4:45 AM (2:15 AM India time). She was earlier treated at the Safdarjung Hospital in Delhi. "We are very sad to report that the patient passed away peacefully at 4.45am on 29 Dec 2012 (Singapore time)," the hospital's Chief Executive Officer Dr Kelvin Loh said in a statement. "Her family and officials from the High Commission of India were by her side. The Mount Elizabeth Hospital team of doctors, nurses and staff join her family in mourning her loss," the statement said. The body has been moved to the mortuary in the Singapore General Hospital and will be flown back to India by a chartered plane. Accompanied by her family, the body is expected to arrive in Delhi in the night. President Pranab Mukherjee, Prime Minister Manmohan Singh and a host of political leaders condoled the death of the girl and paid rich tributes to the victim of the sexual assault for her brave fight. The girl was raped and brutally assaulted in a moving bus by six men in Delhi on December 16 and thrown out along with her companion. Indian High Commissioner T C A Raghavan told reporters that the family was yet to decide on the plans for the last rites back home. He said the girl fought a brave battle till the end. She was brought to Singapore for being provided good medical treatment. MORE PTI GS SKL SAP AKJ VSC SAP
Sukhani told CNBC-TV18, "We have been tracking Hexaware Technologies on the downside from Rs 130 onwards. The actual selling idea started coming when it came down to Rs 115 and it is now Rs 85 and it is not showing any signs of stopping."
He further added, "I am amazed sometimes at what the market can foresee and discount but whatever it is, I am assuming the news will come later. The stock price is not stopping, it was in a trading range after a decline and that trading range has again led to another breakdown. So it remains a short sell."
"I am long in the CNX-IT. IT stocks now are bottoming out. That process takes time, it is long drawn, it is choppy also sometimes. Sometimes you have good days and bad days but essentially the lows are held, that is the basic theme that a bottoming out process should have and that is happening.
"Yesterday we had a very bad day in IT stocks and today I assume even if there is a knee-jerk reaction on the downside in the morning that should be a buying opportunity. Infosys is the most appropriate stock to go long into. As we go into earnings season, I think there will be some momentum on the upside."
(Corrects first paragraph to read 3,000 TVs, not TVs from 300 monasteries)
BEIJING (Reuters) - Chinese authorities have confiscated 3,000 televisions from monasteries in a heavily Tibetan part of the west of the country and dismantled satellite equipment that broadcast "anti-China" programmes, prompted by Tibetan self-immolations in the region.
Some 94 Tibetans, including 81 this year, have set themselves on fire in protest against Chinese rule. Five self-immolations occurred in Tibetan-dominated Huangnan prefecture in Qinghai province, the state-run Qinghai news agency said on Thursday.
The government in Huangnan said its approach in tackling self-immolations comprised of "guiding public opinion on the Dalai issue", increasing patrols and "blocking outside harmful information", according to the news agency, which is managed by the Qinghai government.
"At this critical moment for maintaining social stability in Huangnan prefecture ... (we must) strengthen measures and fully fight the special battle against self-immolations," the article said.
"We do not know anything about it," an official from the Huangnan prefecture government told Reuters by telephone, when asked to confirm the report, before hanging up.
Beijing considers Nobel peace laureate the Dalai Lama, who fled China in 1959 after an abortive uprising against Chinese rule, a separatist. The Dalai Lama says he is merely seeking greater autonomy for his Himalayan homeland.
The article said the prefecture's agricultural and pastoral areas had relied on certain satellite equipment "to watch and listen to overseas, anti-China programmes".
The local government would invest 8.64 million yuan to install 50 transmitters that would broadcast 70 percent of the prefecture's television channels, the report said.
China has repeatedly denounced the Dalai Lama and exiled Tibetan groups for fomenting the self-immolations.
The United States and several other countries have called on China to end repressive policies and to negotiate with the Dalai Lama.
Beijing has defended its iron-fisted rule in Tibet, saying the remote region suffered from dire poverty, brutal exploitation of serfs and economic stagnation until 1950 when Communist troops "peacefully liberated" it. (Reporting by Sui-Lee Wee, Additional reporting by Huang Yan; Editing by Nick Macfie)
Ssharad D Pawaar, SPFX India said, "The rupee is expected to gain moderately as the dollar continues to weaken against most of the major currencies. However, the gains may be restricted with the rise in crude prices and mixed equity market cues. The range for the day is seen between 54.50-54.90/USD."
Chief executive Howard Schultz is urging workers in Starbucks' roughly 120 Washington-area shops to write "come together" on customers' cups on Thursday and Friday, as President Barack Obama and lawmakers return to work and attempt to revive fiscal cliff negotiations that collapsed before the Christmas holiday.
Whether members of Congress actually drink in the message is another matter. While the concentration of Starbucks cafes is high in the vicinity of the White House, it's relatively low near the US Capitol. Members of the House and Senate enjoy private dining facilities and many of their offices have coffee machines.
Starbucks' cup campaign aims to send a message to sharply divided politicians and serve as a rallying cry for the public in the days leading up to the January 1 deadline to avert harsh across-the-board government spending reductions and tax increases that could send the United States back into recession.
"We're paying attention, we're greatly disappointed in what's going on and we deserve better," Schultz told Reuters in a telephone interview.
The CEO said he has joined a growing list of high-powered business leaders, politicians and financial experts in endorsing the Campaign to Fix the Debt, (www.fixthedebt.org) a well-funded non-partisan group that is leaning on lawmakers to put the United States' financial house in order.
Starbucks plans to amplify its "come together" message via new and old media, including Twitter and Facebook posts, coverage on AOL's local news websites and advertisements in The Washington Post and The New York Times.
"If (the talks) do not progress, we will make this much bigger," Schultz said of the messaging campaign, which he said is voluntary for cafe employees.
Given the number of Starbucks cafes in the Washington area and the number of workers on Capitol Hill, "I wouldn't be surprised if a cup of 'come together' finds its way into the White House and into the speaker's house," Schultz said in reference to Obama and Republican House Speaker John Boehner, who are at the center of the fiscal cliff talks.
'LACK OF LEADERSHIP'
"Our political system is not functioning in a way that is representative of what the country needs," he said. "This is the one time where politics should be put aside and what we're witness to is the exact opposite."
Schultz recently led the world's biggest coffee chain through a painful but successful restructuring that returned it to growth. He is no stranger to using Starbucks as a platform to advocate for an end to the political stalemate in Washington.
During the debt ceiling debate in August 2011, he made a splash by calling for a boycott of political contributions to U.S. lawmakers until they struck a fair and bipartisan deal on the country's debt, revenue and spending.
"We are facing such dysfunction, irresponsibility and lack of leadership" less than two years after the debt ceiling crisis, Schultz said.
Washington narrowly avoided a US government default, but not before down-to-the-wire wrangling prompted the country's first-ever debt rating downgrade.
"There is something so wrong that we can be here again and not have the ability to put party aside for the betterment of the country," said Schultz. "We have the same language and rhetoric. Unfortunately we aren't learning much."
Manis Thanawala, Greenback Forex Services said, "The rupee is likely to open around 55.10/USD. With thin trade across global markets, the rupee may trade with a weak bias. Flows are also expected to slow down this week. The range for the day is seen between 55-55.40/USD."
By Ayai Tomisawa
TOKYO (Reuters) - Japan's Nikkei share average rose on Wednesday as the yen slipped to a 20-month low on expectations of an aggressive monetary easing stance by the new government, lifting exporters on hopes of better-than-expected earnings.
The yen last traded at 85.38 to the dollar, its weakest level since April 2011 on expectations that incoming Japanese Prime Minister Shinzo Abe would push the central bank into more forceful monetary easing. Abe is set to be selected as prime minister by lawmakers on Wednesday after leading his Liberal Democratic Party to a landslide victory in a lower house election this month.
The Nikkei gained 0.4 percent to 10,122.82 by the midday break.
Buying continued despite signs that Japanese stocks were overbought, but trading volume was likely to stay thin due to the Christmas holiday, market players said.
"Most foreign funds have added Japanese shares and there are fewer participants today, but there still is a reason for the Nikkei to rise," said Hideyuki Okoshi, general manager at Chibagin Securities. "Not only exporters but investors are buying other stocks which could benefit under the new government."
Among exporters, Nissan Motor Co <7201.T> added 1.2 percent and Sony Corp <6758.T> rose 2.8 percent. A weaker yen boosts exporters' overseas earnings when repatriated.
Real estate shares and financials were also lifting the market on Abe's reflationary policy, with Mitsui Fudosan Co <8801.T> rising 0.6 percent, Mitsubishi UFJ Financial Group <8306.T> adding 0.7 percent and Mizuho Financial Group <8411.T> advancing 0.7 percent.
After rising about 17 percent over the last six weeks, the Nikkei is in "overbought" territory, with its 14-day relative strength index at 73.68, above 70 which is deemed the overbought threshold and signalling that a correction may be imminent.
The broader Topix added 0.5 percent to 842.21 in thin trade, with 1.38 billion shares changing hands by the midday break. That compared with last week's daily average volume of 3.53 billion shares.
(Editing by Chris Gallagher)
Tue, Dec 25, 2012 at 08:32
Like this story, share it with millions of investors on M3
Four jawans killed in shooting at Chhattisgarh CRPF camp
Four jawans killed in shooting at Chhattisgarh CRPF camp
Like this story, share it with millions of investors on M3
Four jawans killed in shooting at Chhattisgarh CRPF camp
Four jawans killed in shooting at Chhattisgarh CRPF camp
Raipur, Dec 25 (PTI) Four CRPF jawans were killed and one was injured after their colleague opened fire at them in Chhattisgarh's Dantewada district. The shooting occurred last night at the camp of 111 CRPF Battalion when a jawan Deep Kumar Tiwari opened fire on the jawans who were sleeping, Dantewada SP Narendra Khare told PTI. While three jawans died on the spot, one died while being taken to hospital, Khare said, adding that the injured has been referred to a Jagdalpur hospital. While the exact cause is being ascertained Khare said the accused was suffering from some "psychological problems". PTI TKP AGL VMN AGL
From DJ EU Officials Spain Aid Cap Of 100 Bn Euros 'should Be Enough'
The latest earning numbers FIRST on CNBC-TV18
Bethlehem, (Palestinian Territories), Dec 25 (AFP) Addressing the faithful in his Christmas Eve midnight mass in Bethlehem today, Latin Patriarch Fuad Twal urged "men of good will" to seek peace amid "the sufferings in the Middle East." Twal, the most senior Roman Catholic bishop in the region, made reference to turmoil across the Middle East this year, but added a special appeal for efforts to resolve the Israeli-Palestinian conflict. "Only justice and peace in the Holy Land can reestablish balance and stability in the region and in the world," he said in the traditional mass, delivered from the Catholic St. Catherine Church, adjoined to Bethlehem's Church of the Nativity. "From this holy place, I invite politicians and men of good will to work with determination for peace and reconciliation that encompasses Palestine and Israel in the midst of all the sufferings in the Middle East." Twal urged the faithful to offer prayers for "our brothers and sisters in Syria, who are dying mercilessly... (and) the people of Egypt who are fighting for national agreement, freedom and equality." "Let us pray for unity and reconciliation in Lebanon, in Iraq, in Sudan, in the other countries of the region and the rest of the world. Let us pray for stability and prosperity in Jordan," he added. (AFP) AGL
LONDON (Reuters) - Britain's Queen Elizabeth will use her traditional Christmas Day message, filmed in 3D for the first time, to pay tribute to the world's athletes for delivering a "splendid summer of sport" at the London Olympics.
In her personal address to the nation, the monarch will pay tribute to the competitors' "skill, dedication, training and teamwork", her office said on Monday.
The 86-year-old head of state provided an Olympic highlight when she made a surprise comic turn with James Bond actor Daniel Craig in a short film for the opening ceremony.
"In pursuing their own sporting goals, they gave the rest of us the opportunity to share something of the excitement and drama," she will say, according to advance extracts.
Queen Elizabeth missed a church service at her country retreat on Sunday due to a cold, Buckingham Palace said. Her message was pre-recorded and will go out as expected.
It comes at the end of a landmark year for the royal family.
Queen Elizabeth marked 60 years on the throne with the Diamond Jubilee celebrations and her grandson Prince William and his wife Kate are expecting their first baby.
Prime Minister David Cameron issued his own Christmas message in which he talked of Britain's "extraordinary year".
"We cheered our queen to the rafters with the Jubilee, showed the world what we're made of by staging the most spectacular Olympic and Paralympic Games ever and - let's not forget - punched way above our weight in the medals table," he said.
The first Christmas broadcast was given by Queen Elizabeth's grandfather George V in 1932. It has become a Christmas Day tradition for many families to watch it together after lunch.
(Reporting by Peter Griffiths; Editing by Stephen Powell)
Sukhani told CNBC-TV18, " Hexaware Technologies is a short. The stock is dismal; something is going on there which we don't understand. What we know is that the trend is down and we should follow it."
He further added, "For the last six-seven days Hexaware was in a narrow range and that narrow range took the shape of something called a bearish pennant that comes midway in a downtrend. That's very worrying because it tells us that while it's not necessarily midway in that sense, what the sense is that there is a lot of downside left here. We want to go short in Hexaware. The slightest weakness in the Nifty and Hexaware should literally collapse."
" Tata Chemicals did come in our list as a short-sell earlier also. It is not going up that's the first thing we must understand, good stocks should go up. It is facing significant resistance every time it reaches Rs 350-360 and it retreats. That retreat is now taking the shape of a downtrend, so there is more downside here. Resistance, trading range, breakdown from trading range, all the classical signs of a down move that's likely to continue more then we imagine, so it is a short-sell."
Jalgaon, Dec 22 (PTI) The Railway Protection Force (RPF) today arrested a man and his wife, who hailed from Rajasthan, for allegedly trying to force a woman, also from the same state, into flesh trade. Pappu Karnawat and his wife Leela, both residents of Bundi, allegedly tricked the woman (25) who hailed from Shamgarh (Rajasthan) into accompanying them for a tour around Maharashtra, an RPF officer posted at Bhusawal railway station said. However, the accused duo dumped the woman at Vaitagwadi, a notorious red light area on the city outskirts, he said. According to RPF sources, the woman managed to escape from the area and rushed to the railway station today morning and narrated her plight to RPF staff following which they laid a trap and nabbed Lata when she arrived on one of the platforms in search of the victim. They later apprehended her husband Pappu from the area. The RPF has handed over the accused to Bhusawal police who are investigating the case. PTI CORR NSK HU SNK
Mumbai, Dec 22 (PTI) A 22-year-old spurned lover stabbed himself to death after badly injuring his college mate in suburban Bandra today. The 19-year-old victim and the accused Nikhil (22) were studying management at a college here and recently had a break-up. According to police, Nikhil accosted the girl and her three friends while they were on their way to the classroom this morning. During a heated argument between the two, Nikhil whipped out a knife from his bag and slashed her several times. Nikhil then stabbed himself around 4-5 times and also slashed his neck. "Both were rushed to Guru Nanak hospital where Nikhil died during admission. The girl is critical but out of danger," said Deputy Police Commissioner N Chavan. PTI VM ABC HU SRE
By Dan Levine
SAN FRANCISCO (Reuters) - A California ban on controversial therapy designed to reverse homosexuality in children cannot be enforced while the constitutionality of the law is being challenged in court, a U.S. appeals court ruled late on Friday.
California's Democratic Governor Jerry Brown signed the ban into law in September, making the nation's most populous state the first to ban so-called conversion therapy among youths.
Earlier this month U.S. District Court Judge Kimberly Mueller denied an injunction request against the law filed by the National Association for Research and Therapy of Homosexuality and the American Association of Christian Counselors, as well as unnamed individuals who sued shortly after the law was signed.
Those groups appealed Mueller's ruling. In a brief order on Friday, the 9th U.S. Circuit Court of Appeals in San Francisco put the law on hold during the appeals process. The law had been scheduled to take effect January 1.
"California was correct to outlaw this unsound and harmful practice, and the Attorney General will vigorously defend this law," said Lynda Gledhill, a spokeswoman for California Attorney General Kamala Harris.
In a press release on Friday, Liberty Counsel attorneys who represent the plaintiffs praised the order.
"The minors we represent have not and do not want to act on same-sex attractions, nor do they want to engage in such behavior," said lead counsel Matthew Staver.
"They are greatly benefiting from counseling."
In its brief supporting the law, California state attorneys wrote that it regulates professional conduct, not constitutionally protected speech.
"The statute is based on a scientific and professional consensus reached decades ago that homosexuality is a normal expression of human sexuality," state attorneys wrote, "and not a disease, condition or disorder in need of a 'cure.'"
Attorneys for both sides are scheduled to file further legal briefs at the 9th Circuit in January.
The case in the 9th Circuit is David H. Pickup et al. vs. Edmund G. Brown et al., 12-17681.
(Reporting By Dan Levine in Oakland, California; editing by Todd Eastham)
Sat, Dec 22, 2012 at 09:02
Like this story, share it with millions of investors on M3
06.00 MY INDIA
06.00 MY INDIA
Like this story, share it with millions of investors on M3
06.00 MY INDIA
06.00 MY INDIA
006.30 SUREELI YADEIN 07.00 DISCOVER INDIA 07.30 YEH HAWAYEIN 08.00 CONTD 08.30 ENGLISH INTERNATIONAL NEWS 09.00 GORA 09.30 NEWS IN PUNJABI 09.45 NEWS IN TELUGU 10.00 A DAY WITH CELEBRITY 10.30 HINDI FEATURE FILM 11.30 CONTD MONDAY 24TH DECEMBER, 2012 AM 00.00 CONTD 00.30 CONTD 01.00 NEWS IN MALAYALAM 01.15 NEWS IN TAMIL 01.30 MY INDIA 02.00 SUREELI YADEIN 02.30 DISCOVER INDIA 03.00 YEH HAWAYEIN 03.30 CONTD 04.00 GORA 04.30 DETECTIVE WAGLE 05.00 EHSAAS EK GHAR KI KAHANI 05.30 NEWS IN GUJARATI (PTI) DL DL
As the dawn breaks on Friday, according to the Maya Long Count calendar, it marks the end of the 13th bak'tun - an epoch lasting some 400 years - and the beginning of the 14th. This fact would probably have languished in academic obscurity had not a young Maya expert named Michael Coe written in the 1960s that to the ancient Mesoamerican culture the date could herald an 'Armageddon' to cleanse humanity. Since then, the cult of 2012 has snowballed. The mix of religion, ancient inscriptions and media-driven speculation about the doom triggered worldwide interest.
As the appointed time came and went in several parts of the world, there was no sign of the apocalypse. Indeed, the social network Imgur posted photos of clocks turning midnight in the Asia-Pacific region with messages such as: "The world has not ended. Sincerely, New Zealand."
There have been hundreds of thousands of doomsday predictions since the beginning of recorded time and we are still here, reading this post that the world didn't end again. This in itself says a lot about how much we should believe in these apocalypse prophesies.
Independent Analyst, Vikram Nanivadekar feels that 55/USD seems to be at risk due to the prevailing momentum against the rupee and mixed global market cues. "The range for the day is seen between 54.60-55.10/USD," he adds.
Also Read
Market watch: Cues that will decide Nifty's direction today
Bull's eye: Buy NCC, MCX, Canara Bank, short Karnataka Bank
Stocks in news: Indo Tech, RIL, Sun Pharma, DLF, Kingfisher
Also read : How listed Gujarat firms fared under Narendra Modi's rule
Polling in Gujarat was held in two phases on December 13 and 17, and the counting began at 8 AM at 33 places in the state where 44,579 Electronic Voting Machines (EVMs) have been kept in rooms under heavy security.
The postal ballots would be taken up during the first half-hour of counting followed by 2,71,58,626 votes cast in the two phases of polling, sources in the Election Commission said. Within 3-4 hours, trends will be available and hopefully by 4 PM all results will be declared, they said.
The fate of 1,666 candidates including Gujarat Chief Minister Modi, his cabinet colleagues, Congress stalwarts like party state unit president Arjun Modhwadia, Leader of Opposition Shaktisinh Gohil and former Chief Minister Shankarsinh Vaghela would be decided today.
The elections were virtually a three-way contest with rebel BJP leader Keshubhai Patel, a former Chief Minister, launching his political outfit Gujarat Parivartan Party (GPP) before the polls and main Opposition Congress running a sustained and aggressive campaign against Modi. Congress had lost power in the key western state in 1990. Modi, who is the longest serving chief minister, is seeking a third straight term in office and exit polls have predicted a win for BJP. Apart from the three main contenders, 33 other parties are also trying their luck at the hustings.
The BJP is leading in 60 seats and the Congress follows with lead in 29 seats. The GPP leads in 3 and others in 2.
The BJP leads in 57 seats and the Congress in 25. The GPP leads in 3 seats and others in 1.
The BJP takes lead in 56 seats and the Congress in 24. The GPP leads in 3 seats and others in 1. Narendra Modi and Keshubhai Patel lead.
The BJP leads in 50 seats and the Congress in 24. The GPP leads in 3 seats.
The BJP betters its tally as it leads in 49 seats. The Congress leads in 24 seats and the GPP in 3.
The BJP surges ahead, leading in 46 seats. The Congress leads in 23 seats, the GPP in 3.
Also Read: Gujarat elections: The rise of Narendra Modi
The BJP leads in 41 seats and the Congress in 21. The GPP leads in 3 seats and others in 1.
The BJP leads in 38 seats and the Congress in 21. The GPP leads in 2 seats.
The BJP betters its tally, leading in 34 seats. The Congress leads in 18 seats and the GPP in 2.
The BJP is leading in 26 seats, Congress in 10 and the GPP leads in 1.
The BJP surges ahead, leading in 21 seats, with the Congress leading in 9 seats and the others in one.
The BJP leads in 18 seats while the Congress takes lead in seven constituencies.
Leads come in from 22 seats from Gujarat with the BJP leading in 15 and the Congress in 7.
The BJP takes an edge, leading in 11 seats while the Congress continues to lead in 6 seats.
The BJP is leading in 9 seats and the Congress leads in 7 constituencies. The GPP is yet to open its tally.
The BJP leads in 7 seats with the Congress taking lead in six constituencies.
As per the early trends, the BJP and the Congress lead in six seats each.
The BJP takes a lead in six seats while the Congress continues to lead in five seats.
Both the BJP and the Congress are leading in 5 seats each.
The BJP leads in five seats with the Congress leading in two seats.
The Congress is leading in two seats while the BJP continues to lead in two constituencies.
The BJP leads in three seats while the Congress and others are yet to open their tally.
The BJP takes lead in two seats.
8.30 am: The Bharatiya Janata Party leads in one seat as the trends begin to pour in.
The counting for the Gujarat elections began on Thursday with the exit polls predicting a comfortable win for the Bharatiya Janata Party (BJP) and a hat-trick for Chief Minister Narendra Modi.
Almost all major poll surveys have predicted a landslide victory for Modi. Speculations are already rife that the BJP leader may well be projected as BJP's prime ministerial candidate for the 2014 General Election if Modi manages to win by a landslide margin this time. If Modi wins this will be the fifth straight victory of the BJP in Gujarat.
According to the post-poll survey conducted by the Centre for the Study of Developing Societies (CSDS) and seat projections by Chennai Mathematical Institute Director Rajeeva Karandikar, Modi will steamroll the opposition and become the Chief Minister of Gujarat once again.
The post-poll survey of 3755 persons at 239 locations in 60 constituencies in Gujarat shows that Modi is going to better the 2002 and 2007 results and win by a very handsome margin. While the BJP will have a vote percentage of 48, the party is going to win 129-141 seats (the party had won 117 in 2007 in the 182-member Assembly) with the Congress trailing far behind with 36 per cent of the votes and its worst show in the state with only 37 to 45 seats (the party had won 59 in 2007). The other smaller parties would garner 16 per cent of the votes and end up with 4 to 10 seats (others had won six seats which included three by the NCP, one by the JD(U) and two Independents in 2007).
In Gujarat, where 71.32 per cent voters cast their ballot, the counting will be held for all the 182 Assembly constituencies in the state, culminating the much-watched poll exercise which started on October four with the Election Commission announcing the poll schedule.
Polling was held in two phases on December 13 and 17, and the counting will begin at 8 am at 33 places in the state where 44,579 Electronic Voting Machines (EVMs) have been kept in strong rooms under heavy security.
The Gujarat Assembly election was virtually a three-way fight with rebel BJP leader Keshubhai Patel, a former Chief Minister, launching his political outfit Gujarat Parivartan Party (GPP) months ahead of the polls and main Opposition Congress running a sustained and aggressive campaign against Modi. Congress had lost power in the key western state in 1990. Apart from the three main contenders, 33 other parties are also trying their luck at the hustings.
The Thomson Reuters/INSEAD Asia Business Sentiment Index rose to 63 in the fourth quarter from 62 in the third quarter of 2012, having peaked at 80 in the first quarter of 2011. A reading above 50 indicates an overall positive outlook, while one below 50 points to pessimism.
The result showed a stark contrast between companies in Southeast Asia, a region of about 600 million people now benefiting from an increase in foreign investment, and manufacturing-heavy northeast Asia, which is more susceptible to the global economic outlook.
China, where exports support an estimated 200 million jobs, showed the most positive response in the northeast Asian region, but companies in other export-focused economies such as Japan, South Korea and Taiwan remained more cautious.
The index surveyed more than 100 of the Asia-Pacific region's top companies in 11 economies. There were 96 responses.
The poll, conducted by Thomson Reuters in association with INSEAD, a global management and business school, was compiled between December 3-14 and covered sectors such as autos, finance, property, resources and technology.
Wed, Dec 19, 2012 at 09:12
Like this story, share it with millions of investors on M3
NSE to exclude Gujarat Fluro, Suzlon from F&O
The National Stock Exchange has excluded Suzlon Energy and Gujarat Flurochemicals from futures and options segment. This will take effect from March 1, 2013. However, trading would be available for December, January and February series.
Like this story, share it with millions of investors on M3
NSE to exclude Gujarat Fluro, Suzlon from F&O
The National Stock Exchange has excluded Suzlon Energy and Gujarat Flurochemicals from futures and options segment. This will take effect from March 1, 2013. However, trading would be available for December, January and February series.
FREE CNBC-TV18 Bestsellers Gift Hamper
*Limited period offer
From DJ EU Officials Spain Aid Cap Of 100 Bn Euros 'should Be Enough'
The latest earning numbers FIRST on CNBC-TV18
The lawsuit by the National Credit Union Administration is its second against JPMorgan involving losses to credit unions. In June 2011 the agency sued it over securities in which JPMorgan was the underwriter and seller. That suit is still pending.
Bear Stearns, which JPMorgan acquired in 2008, made misrepresentations in connection with the underwriting and subsequent sale of mortgage-backed securities to US Central, Western Corporate, Southwest Corporate and Members United Corporate federal credit unions, the agency said.
The lawsuit, filed in federal court in Kansas, is the largest such lawsuit the regulator has filed to date.
A JPMorgan spokeswoman declined to comment.
In the past two years the agency has brought similar actions against Barclays Capital, Credit Suisse, Goldman Sachs, RBS Securities, UBS Securities, Wachovia and others.
Most of the cases are pending, but it has settled claims against Citigroup, Deutsche Bank Securities and HSBC for around USD 170 million.
The agency has been trying to recover losses related to the failure of five institutions that it seized in 2009 and 2010 after they ran into trouble due to the crumbling housing market.
USDINR: The Indian Rupee fell on Monday after the Indian Government revised the growth target downwards. Initially The USD/INR pair was trading flat as markets were quite ahead of RBI policy meet. However the growth downgrade triggered demand for the greenback. India's economy will grow by about 5.8% this year, representing the slowest rate of growth in a decade, according to revised official forecasts. The country's finance ministry said Monday it was expecting India's growth rate to accelerate slightly in the second half of its financial year, which ends in March 2013. But gross domestic product will still only expand by 5.7% to 5.9% annually, compared with an earlier forecast of 7.6%.
The last year growth was weaker was 2002-03. Adding further to Dollar strength was demand from Oil companies and FCCB redemption of $133 million this month. RBI will come out with its monetary policy review today. According to Bloomberg survey, market expects a 25 basis points cut to CRR as the same time holding policy rates steady. If RBI does cut interest rates, Rupee will extend its fall against the Greenback. Markets do not expect a policy rate cut, thus Rupee may not strengthen as much following the announcement. USDINR has immediate resistance of 54.90- 55.30. Downside should be capped around 54.50 levels.
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Facebook CEO Mark Zuckerberg ultimately acquired Instagram after pushing through a cash-and-stock deal just weeks before Facebook's May initial public offering. The transaction closed in September at a USD715 million valuation, reflecting Facebook's stock drop since the offering.
During negotiations with Instagram, Twitter executives had handed Systrom a term sheet outlining the details of the proposed deal, the Times reported, but Systrom later told California state regulators under oath that his company had not received any "formal offers or term sheets" from potential buyers aside from Facebook.
Relations between Twitter, Instagram and Facebook have soured since Facebook successfully swooped for the photo service. Earlier this month, Instagram shut off a functionality that allowed Twitter to display Instagram pictures, while Twitter introduced its own photo colour-filters to compete with Instagram.
A spokeswoman for Facebook declined comment. Twitter could not be immediately reached for comment.
REUTERS - Sporting quotes from 2012:
OLYMPICS
"These were happy and glorious Games," - IOC president Jacques Rogge at the closing ceremony.
"I did everything I wanted to. I finished my career the way I wanted to," - American swimmer Michael Phelps after retiring with 18 gold medals.
"I hope that this medal inspires the kids at home to put down guns and knives and pick up a pair of trainers instead," - Erick Barrondo, winner of Guatemala's first-ever Olympic medal with silver in the men's 20-kilometre race walk.
"I'm now a legend. I'm also the greatest athlete to live," - Jamaican sprinter Usain Bolt after retaining his 100 and 200 metre titles.
"Bolt was good but Rudisha was magnificent - it was the performance of the Games, not just track and field," - London 2012 head Sebastian Coe about Kenyan David Rudisha's world record win in the 800 metres.
- - -
CRICKET
"Where else in the world do you get the opportunity to basically kill someone with two bouncers an over? Or try, legally," - South African fast bowler Dale Steyn.
"Cricket is not like a government job where retirement age is fixed at 60. A cricketer can retire at 30 or 60; it's up to the player," - India's evergreen batsman Virender Sehwag.
- - -
SOCCER
"I am more worried about being a good person than being the best football player in the world. When all this is over, what are you left with?" - Barcelona and Argentina forward Lionel Messi.
"We're talking about a great generation of footballers. This is a great era for Spanish football," - Spain coach Vicente del Bosque after his team won the European championship.
- - -
TENNIS
"I'm sure he's smiling from up there that someone has finally managed to do it from Britain. I just hope I can see another British player in my lifetime win a Grand Slam," - Andy Murray after becoming the first British man since Fred Perry in 1936 to win the U.S. Open.
"I really think a champion is defined not by their wins but by how they can recover when they fall. I have fallen several times. Each time I just get up and I dust myself off and I pray and I'm able to do better," - Serena Williams after coming back from a life-threatening illness to win the Wimbledon, Olympic and U.S. Open titles.
- - -
GOLF
"I never got this far in my dreams," - Bubba Watson after winning the Masters in a dramatic playoff with Louis Oosthuizen.
"He's got all the talent in the world to do what he's doing. And this is the way that Rory can play," - Tiger Woods about Rory McIlroy after the Northern Irishman won the PGA Championship by eight shots.
- - -
AMERICAN FOOTBALL
"This isn't about bragging rights. This is a lot bigger. This is about a team, an organization being named world champions," - New York Giants quarterback Eli Manning after winning his second Super Bowl, one more than his older brother Peyton.
"It is our responsibility to protect player safety and the integrity of our game and this kind of conduct will not be tolerated," - NFL commissioner Roger Goodell after announcing a range of penalties following revelations of the New Orleans Saints cash-for-hits scheme.
- - -
BASKETBALL
"It's about damn time," - Miami Heat forward LeBron James after winning his first NBA title.
"We're all so proud of LeBron. When you get to know LeBron, you don't understand why he was such a lightning rod for the criticism," - Miami Heat coach Erik Spoelstra.
- - -
CYCLING
"It sounds cheesy, but your whole life is for this and the reason I got into cycling as a kid was today," - Bradley Wiggins after becoming the first Briton to win the Tour de France.
"There comes a point in every man's life when he has to say, 'Enough is enough.' For me, that time is now," - Lance Armstrong, announcing he would not contest the doping charges against him and his former team.
"The evidence shows beyond any doubt that the US Postal Service Pro Cycling Team ran the most sophisticated, professionalized and successful doping program that sport has ever seen," - statement from U.S. Anti-Doping Agency chief executive Travis Tygart.
- - -
MOTOR RACING
"People were not even mentioning us when they were talking about the championship, but I think the most important thing was that we always kept believing," - Sebastian Vettel after winning his third successive Formula One world title at age 25.
"If the sword breaks, attack with the hands. If they cut off your hands, push the enemy with your shoulders, even with your teeth," - Championship runner-up Fernando Alonso about his battles with Vettel.
- - -
MAJOR LEAGUE BASEBALL
"It's amazing what a group of guys who play like a team can accomplish. I'm numb that we have won two World Series in the last three years," - San Francisco manager Bruce Bochy after the Giants swept the Detroit Tigers 4-0 to win the Fall Classic.
"I'm a little bit flabbergasted to be honest with you. I never would have thought that we would have swept the New York Yankees (to reach the World Series) and I never would have thought that the Giants would have swept us but it happened," - Detroit manager Jim Leyland.
- - -
ICE HOCKEY
"This is something everyone's dreamed of for their whole lives and this city's dreamed of for 45 years," - Los Angeles captain Dustin Brown after the Kings won the Stanley Cup for the first time.
"We are not prepared to open another season until we have a new collective bargaining agreement," - NHL Commissioner Gary Bettman signaling the start of another player lockout.
- - -
RUGBY
"It's for other people to judge whether we are the greatest team or not - or if we are a great team," - New Zealand coach Steve Hansen after another dominant season by the All Blacks.
"Today, we witnessed the arrival of a new generation of Welsh rugby heroes - a group of players who have equalled the success of those great Welsh teams of the past," - Wales First Minister Carwyn Jones after Wales won the Grand Slam and the Six Nations.
(Compiled by Julian Linden, edited by Josh Reich)
Sat, Dec 15, 2012 at 23:36
Like this story, share it with millions of investors on M3
Govt asks SC collegium to reconsider names of 3 judges for
Govt asks SC collegium to reconsider names of 3 judges for
Like this story, share it with millions of investors on M3
Govt asks SC collegium to reconsider names of 3 judges for
Govt asks SC collegium to reconsider names of 3 judges for
elevation New Delhi, Dec 15 (PTI) Government is learnt to have requested the Supreme Court collegium to reconsider the names of three senior judges it had recommended for elevation to the apex court. Sources said government had written to the collegium headed by the Chief Justice of India Altamas Kabir to once again consider its recommendation to elevate Chief Justices of three High Courts as judges of the Supreme Court. Under the present system, the if collegium sents back the names to the government again, then it is bound to consider them for elevation. PTI NAB SKU VMN
FREE CNBC-TV18 Bestsellers Gift Hamper
*Limited period offer
Jaipur, Dec 15 (PTI) Rajasthan Chief Minister Ashok Gehlot today said that to check misuse of social networking websites, police should effectively use the concerned laws. Gehlot was speaking after reviewing a parade here during the 150th anniversary celebrations of Indian Police Service. He said he was in favour of freedom of speech on social media, but it should not be misused. "The police should use laws to tighten the noose around unsocial elements to stop them from uploading communal and seditious content on social sites," Gehlot said. On this occasion, he also announced to open a police training centre in Bharatpur district. The Police Act of 1861 is acknowledged to have marked the start of formal policing in India. PTI Corr SHS/AGL AGL
FREE CNBC-TV18 Bestsellers Gift Hamper
*Limited period offer
In the telecom space, MTNL was up 5.15% at USD 1.02 and Tata Comm was down 0.25% at USD 8.08. In the banking space, ICICI Bank was 1.45% at USD 43.52 and HDFC Bank was down 0.53% at USD 41.18.
In the other space, Tata Motors was up 0.92% at USD 26.43, Sterlite Ind was up 3.26% at USD 8.23 and Dr Reddys was down 0.71% at USD 33.6.
By Nick Mulvenney
HOBART (Reuters) - Sri Lanka took the key wicket of Michael Clarke early but Mike Hussey drove Australia on with his 30th half century to help the hosts reach lunch at 364 for five on the second day of the first test on Saturday.
Early morning showers delayed the start of play at the Bellerive Oval by 50 minutes and just 13 balls into the session Shaminda Eranga broke the most prolific partnership in Australian cricket this year.
Clarke had managed to add just four runs to his overnight tally of 70 before a delivery from the young paceman induced the Australian captain into an edge which Kumar Sangakkara collected with ease at second slip.
Hussey, who in the last four tests has put on 736 runs in partnerships with Clarke, had made 66 not out at the end of the opening session with wicketkeeper Matthew Wade unbeaten on 31.
The bad news for Sri Lanka is that Hussey rarely makes a half century without converting to a big score and the 37-year-old had started to open up after reaching 50 with a single to mid-off.
Wade looked less assured, especially with some of his run calling, and he survived an optimistic lbw appeal from Chanaka Welegedera when the TV umpire confirmed the ball had pitched outside the line of the stumps.
There was another scare two overs later when Wade pulled a short delivery from Welegedera and replacement fielder Suraj Randiv just failed to hold a catch at midwicket.
Sri Lanka's bowlers, dubbed by former Australian test player Rodney Hogg as the worst pace attack to tour the country, made life difficult at times for the batsmen and will be disappointed not have made further inroads into the Australian order.
The tourists have never won a test in Australia and will have two more attempts at breaking that duck in further matches in Melbourne and Sydney.
(Editing by Greg Stutchbury)
By Ronnie Cohen
SAN FRANCISCO (Reuters) - California public health officials warned on Thursday of a sharp rise in tobacco smoking from hookahs, and a proliferation of cafes and lounges offering the Middle Eastern-style water pipes, which experts say can be at least as harmful as cigarettes.
Hookah smoking among Californians jumped more than 40 percent between 2005 and 2008, said Dr. Ron Chapman, the state director of public health, citing a 2011 state tobacco survey published in the American Journal of Public Health.
He said the trend was particularly pronounced among college-age adults, with nearly a quarter of men 18 to 24 years old reporting they had used a hookah at least once, according to the same study.
Experts say the growing popularity of hookahs has been fueled in part by a perception that the water pipes are more socially acceptable than cigarettes and the erroneous belief that inhaling tobacco smoke drawn through the water filters out some of its toxins.
But smoke from hookah tobacco -- which comes in such flavors as apple, strawberry, honey and mint -- retains all the carcinogens of cigarette smoke while adding more carbon monoxide and extra carcinogens from the use of burning coals that are used to keep the nicotine flowing, health officials say.
During a typical hour-long session, a hookah user inhales 100 to 200 times the volume of smoke inhaled from a single cigarette, according to the U.S. Centers for Disease Control and Prevention.
"There is a very, very concerning misperception about the use of hookahs among youth, thinking it's somehow safer. In fact, it puts you at the same risk," Chapman said.
The warning came as Chapman announced an anti-smoking advertising campaign aimed at those most likely to light up - low-income, minority youth, especially African-Americans.
While California has in many ways led the nation in discouraging smoking, "tobacco use is still the No. 1 cause of death and disease in California," he said.
Tobacco kills nearly 34,000 Californians a year and leads to annual healthcare costs of $6.5 billion, or $400 for each state taxpayer, he said.
Although pubs and restaurants in California have banned smoking since 1998, hookah bars and cafes are permitted under exemptions for owner-operated tobacco shops or other businesses where no food or beverages are sold without employees or staff, said Corey Egel, a state public health department spokesman.
The growing popularity of hookahs among young adults in California mirrors a broader trend nationwide. A s tudy in May by the University of Pittsburgh School of Medicine of 152 universities nationwide found that over 30 percent of students had smoked tobacco from a hookah during the previous month.
Hookah smoking, which originated in Persia and India, has seen a resurgence in Middle Eastern countries and elsewhere, too, with water pipes referred to as narguila in Syria, Lebanon and Turkey and as sheesha in Egypt.
(Reporting by Ronnie Cohen; Editing by Steve Gorman, Cynthia Johnston and Lisa Shumaker)
With the fact that market has moved shraply into the resistance zone and overbought we expect a brief pause at this stage before it moves further. From the intermediate term point of view staying above 5790 is bullish. Spot Nifty closed at 5851 down by 36.50 points or 0.62% and Sensex closed at 19229 down by 126 points or 0.65%. BSE midcap index was down by 81.54 points or 1.16% to close at 6957 whereas BSE Small Cap index closed at 7348 down by 72 points or 0.97%.
Trend Analysis: Short-term trend is positive with market trading above 5810. On the other hand intermediate term trend is positive above 5790.
Momentum Indicators: Among three of our momentum models indicators one is in overbought zone and. On the other hand the intermediate term indicator is in buy mode. Overall we are getting an intermediate term positive view from this model. On the short term a brief pause or a consolidation is likely.
Trading Strategy (based on spot Nifty)
Hold the long initiated around 5860-5880 with stop loss at 5840 for a target of 5980.
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Ahmedabad, Dec 13 (PTI) Voting on 87 constituencies for the first phase of Gujarat Assembly elections began today amidst tight security where Gujarat Chief Minister Narendra Modi is seeking a fourth term. The constituencies where polling started include 48 in seven districts of Saurashtra, 35 seats in five districts of south Gujarat and four seats in Ahmedabad district. A total of 846 candidates are in fray. For this phase, BJP has fielded candidates on all 87 seats going to the poll, whereas Congress is contesting on 84 and Gujarat Parivartan Party (GPP) on 83 seats. The Election Commission (EC) has made robust security arrangements to ensure that voting is carried out peacefully by deploying security forces in the areas going to polls in first phase. Out of total 1,81,77,953 voters, there are 95,75,278 males, 86,02,557 females and 118 other voters who are likely to use their franchise. EC has set up 21,261 polling stations and will use the same number of electronic voting machines (EVMs) in the first phase elections. Fourty-eight seats in Surendranagar, Rajkot, Jamnagar, Porbandar, Jamnagar, Amreli and Bhavngar are considered very crucial as political observers are watching very keenly on how former Chief Minister and 'bete noir' of Modi, Keshubhai Patel factor plays out in the region. Fate of many state political big-wigs who are contesting elections like Keshubhai Patel, Assembly Speaker Ganpat Vasava, Gujarat BJP president R C Faldu, state Congress president Arjun Modhwadia and Leader of Opposition Shaktisinh Gohil will be decided today. PTI PD GK SG
FREE CNBC-TV18 Bestsellers Gift Hamper
*Limited period offer
Ssharad D Pawaar, SPFX India said, "The rupee may gain marginally amid mixed global cues. Positive sentiment in domestic equity markets is likely to support the currency. The range for the day is seen between 54.10-54.45/USD."
Manis Thanawala, Greenback Forex Services said, "The rupee is expected to open marginally stronger at 54.20/USD. A weaker dollar and positive global market cues will support the currency. IIP is likely to come in at 4.6%. The range for the day is seen between 54-54.50/USD."
There are some polls that are even expecting 5 percent. But this should not indicate a huge swing. In the first place, this excellent 4.5-percent growth is because October 2011 was a terrible month due to a contraction caused primarily because Diwali fell in October when the number of working days are less and most companies produced a lot for restocking in September for sales in the Diwali month.
So last year, for all these reasons October was a very weak month and on a base of minus-5, the data for October, 2012 will definitely look much better because, it was not Diwali month, it was a month before Diwali when a lot of output actually happens.
So seasonally adjusted, it should not look very good, but there is some advance indication of the core sector having done well. The core sector grew by 6.5 percent largely supported by refinery products which posted had a 20-percent growth in the month of October, decent improvement in electricity generation, in steel and cement production.
So since the core sector did well, there is enough confidence to forecast the overall Index of Industrial Production (IIP). Even if the base effect is deducted and the industry does manage to register a 4.5- or 5-percent growth, it will mean a 1- or 1.5-percent growth in October over September, which in itself is a very good record. So, if the IIP does manage to post a 4.5- to 5-percent growth later today, it would be a positive and probably indicate that industrial output has troughed out.
However, it will not make much of an impression on the Reserve Bank of India (RBI) because the RBI doesn't trust the IIP data. But for what it is worth, if it is as cheerful as a growth of 4.5- to 5-percent ,it will be add that much needed spring in the step for the market.
By Yati Himatsingka
BANGALORE (Reuters) - Inflation probably picked up in November as a weak currency pushed up the price of imported fuel, adding to the challenges facing a central bank torn between fighting rising prices and an economic slowdown, a Reuters poll showed.
A Reuters poll of 32 economists taken over the past week showed they expect wholesale prices rose 7.60 percent in November from a year earlier, compared with 7.45 percent in October. Forecasts ranged from 7.12 percent to 8.10 percent.
Wilting economic growth has prompted calls from the government and business leaders for the Reserve Bank of India to cut interest rates, but it has so far rejected them, saying prices are still rising too fast to ease policy.
"The WPI inflation likely increased slightly despite a favourable base. (The) decline in the Indian rupee over the month more than offset the fall in global commodity prices, and may have supported imported inflationary pressures," said Abhishek Upadhyay, an economist at Axis Bank.
Primary articles like food and fuel make up over a third of the wholesale price index, and their high cost has kept inflation stubbornly strong. The data will be released on Friday.
Renewed weakness in the rupee added to the pressure, with its almost 1 percent drop last month pushing costs of imports, mainly crude oil, higher. Compared with a year earlier, the rupee was down about 4 percent against the dollar.
The economy extended its slump into the three months to September, growing an annual 5.3 percent, and is headed for its weakest full-year growth in a decade.
In an unexpected move, RBI Governor Duvvuri Subbarao gave fairly explicit policy guidance at the October meeting, saying the RBI might ease policy in January to March, the final quarter of the fiscal year, when it expects inflationary pressure to ease.
"Even if inflation has started showing signs of moderation, it is still way above the RBI's comfort level and I don't see any rate action in December's policy review," said Rupa Rege Nitsure, at Bank of Baroda.
The RBI has left the repo rate on hold at 8 percent since April this year but slashed the cash reserve ratio to 4.25 percent, its lowest since 1976. The move was expected to inject 175 billion rupees into the banking system to pre-empt a potential tightening of liquidity.
A headline inflation rate of 5 percent is commonly perceived as the RBI's comfort level and it has stayed above 7 percent through this year, although lower than the 9.5 percent it averaged in the previous two years.
(Polling by Somya Gupta; Editing by Kim Coghill)
The Indian rupee fell marginally on Monday on continued dollar demand from oil importers but losses were capped by expectations of inflows from a spate of share sales. The INR ended at 54.49/50 dollar, up from the previous day's close of 54.47/48. The dollar index against six major currencies was at 80.32, down 0.1% from the previous day's close. Derivatives strategy: Buy December contract
In the currency futures market, the most traded dollar-rupee December contract on the NSE closed at 54.70. The December contract open interest was down 2.9% from the previous day. The January contract open interest was up 4.4% from the previous day. We expect the US dollar to attract buying support on declines against the INR. Utilise the lows in the USDINR December contract to buy.
Intraday Strategy:
Buy USDINR above 54.40, stoploss-54.31, target-54.58-54.66, support-54.40-54.20 and resistance-54.85-55.05.
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
By Mark Lamport-Stokes
LAS VEGAS (Reuters) - Though bruised and battered, Manny Pacquiao said he felt "fine" on Sunday after his sensational sixth-round knockout by Mexican Juan Manuel Marquez and promised his fans he would return to the ring.
There had been speculation the 33-year-old Pacquiao might consider retirement after losing for a second time in his last three bouts but the Filipino southpaw made it clear he would be back to compete after taking a well-earned break.
"To all my fans, I would like to thank you for your prayers and assure you that I am fine," Pacquiao said in a statement just hours after his stunning defeat in a non-title welterweight bout in front of a sellout crowd at the MGM Grand Garden Arena.
"I am looking forward to a nice rest and then I will be back to fight. On behalf of (his wife) Jinkee and our family we would like to wish everyone a joyous Christmas and a happy and healthy new year."
Pacquiao, who had won twice and drawn once in his three previous meetings with Marquez, was floored by a thunderous right by the counter-punching Mexican with just one second left in the sixth round of a high-energy bout.
The Filipino was also knocked down in the third round but fears of a possible concussion were put to rest after a precautionary CT (computed tomography) scan at nearby University Medical Center hospital after the fight ended.
"The results were negative," said Michael Koncz, Pacquiao's advisor. "We were in and out in just over an hour and Manny was in excellent spirits."
Both fighters had much to prove in their heavily anticipated fourth showdown on Saturday.
DIMINISHED POWERS
Marquez was determined to set the record straight after firmly believing he had been "robbed" by judges' verdicts in their three previous fights while Pacquiao was eager to prove his powers had not diminished with age.
The Filipino had delivered a below-par performance against Marquez 13 months ago when he narrowly retained his WBO welterweight title with a controversial majority decision that was greeted by loud booing from disgruntled Marquez fans.
Pacquiao's preparations for that fight were hampered by various distractions, including marital difficulties, but he has since patched up his relationship with his wife and become a much more disciplined boxer after giving up his former pastimes of cockfighting, gambling and nightclubbing.
In June, however, Pacquiao lost on a hotly disputed split decision to American Timothy Bradley, his first defeat since he was beaten by Erik Morales in Las Vegas in March 2005.
With his ego bruised and his stature diminished, the Filipino set his sights on bold vindication against Marquez, but once again he fell short in his bid.
"I want to congratulate Juan Manuel," said Pacquiao, who slipped to 54-5-2 with 38 knockouts. "I have no excuses. It was a good fight and he deserved the victory. I think boxing fans who watched us were winners too."
Pacquiao's stunning loss has almost certainly written off any chance of a long awaited mega-fight between the Filipino and American Floyd Mayweather Jr., and he is now much more likely to take on Marquez for a fifth time.
"Yes, why not? It's a good fight," said the Filipino, who has won world titles in an unprecedented eight weight divisions. "If you give us a chance, we'll fight again." (Reporting by Mark Lamport-Stokes; Editing by Gene Cherry)
MILAN (Reuters) - Juventus coach Antonio Conte enjoyed a winning return to the touchline after his four-month ban on Sunday as the Serie A leaders won 1-0 at Palermo while Inter Milan's pulsating 2-1 win over Napoli took them second.
Stephan Lichtsteiner scored Juve's winner early in the second half of a game in which both teams struggled on a difficult pitch that cut up badly following a hailstorm at halftime.
Inter's Colombian Fredy Guarin scored the first goal and set up a second for Diego Milito as they took a 2-0 halftime lead against Napoli, who had started the weekend in second.
Edinson Cavani pulled one back for the visitors early in the second half, the Uruguayan's 11th league goal of the season, and the rest of the match was an end-to-end affair in which almost every attack produced a chance.
AC Milan continued their revival with a third league win in a row, coming from behind to win 4-2 at Torino with goals from Robinho, Antonio Nocerino, Giampaolo Pazzini and Stephan El Shaaraway.
Their celebrations were dampened by an injury to their Netherlands midfielder Nigel de Jong, who ruptured an Achilles tendon and was ruled out for the rest of the season, while Robinho and Philippe Mexes were involved in a heated row on the pitch at the end.
Pescara beat Genoa 2-0 in a clash of two teams stuck in the relegation zone and two goals from Gonzalo Bergessio gave Catania their first away win of the season, 3-1 at Siena.
Juve's victory, their 12th in 16 league games, took them on to 38 points, four ahead of Inter with Napoli a further point back in third place.
"The last four months have been painful," Juve coach Conte told reporters. "It's hard to be kept out of the 90 minutes after you have prepared the team with passion and enthusiasm."
Conte was initially banned for 10 months in August for failing to report a match-fixing attempt when he was coach at Siena in Serie B, but his suspension was later reduced to four months on appeal.
Palermo playmaker Fabrizio Miccoli had a first-half goal disallowed for offside before Switzerland fullback Lichtsteiner settled the match following a clever backheel by Mirko Vucinic five minutes after the restart.
The hosts, who are 17th, had Michel Morganella sent off for a second bookable offence in the 75th minute.
Guarin, one of seven South Americans in Inter's starting lineup, opened the scoring in the eighth minute at freezing San Siro when he volleyed home Antonio Cassano's corner at the far post.
GUARIN STRIKES
Guarin also set up the second for Milito in the 39th, threading the ball into the penalty area where the Argentine held off a challenge and slipped his shot past Morgan De Santis.
Cavani pulled one back for Napoli after an astonishing scramble in the 54th minute and they had numerous chances to equalise after that with Inter's Alvaro Pereira desperately lucky not to concede an own goal.
In Turin, Milan lost midfielder Nigel de Jong in the 21st minute and Torino went ahead seven minutes later when Antonio Nocerino's dreadful backpass was intercepted by Mario Santana, who ran into the box and rounded Marco Amelia to score.
Milan's Brazil forward Robinho levelled from a tight angle five minutes before halftime and Nocerino made amends for his blunder after the break when he headed in a rebound after Jean-Francois Gillet parried the ball into his path from El Shaaraway's cross.
Pazzini scored the third, despite Torino claims he had committed a foul in the process, and El Shaaraway tapped in from close range after a mistake by Gillet for his 13th goal of the season before Rolando Bianchi headed one back for Torino.
The win saw Milan climb to seventh with 24 points.
Pescara's Slovakia midfielder Vladimir Weiss set up both their goals in the second half against Genoa, the first for Elvis Abbruscato and the second for Ante Vukusic.
Pescara moved up to 18th with 14 points, two more than their opponents who are 19th in the 20-team table. (Writing by Brian Homewood in Berne; Editing by Ed Osmond and Ken Ferris)
By Martyn Herman
LONDON (Reuters) - Fernando Torres scored twice as third-placed Chelsea won 3-1 at Sunderland to record their first Premier League victory under interim manager Rafael Benitez on Saturday.
The often-criticised Spaniard struck twice in the first half, his second from the penalty spot, and he almost completed a hat-trick shortly after halftime when his ferocious shot rebounded off the woodwork for compatriot Juan Mata to tap home.
Bottom club Queens Park Rangers set an unwanted Premier League record when a 2-2 draw at Wigan Athletic meant they have failed to win any of their first 16 matches.
Two Mikel Arteta penalties helped Arsenal to a 2-0 home win over West Bromwich Albion, a first victory in four league games moving the Gunners up to sixth.
Norwich City are unbeaten in 10 matches in all competitions after a 4-3 victory at Swansea City although Michu's double for the Swans after the break nearly helped the home side make an unlikely escape having trailed 3-0 at halftime.
Southampton climbed out of the relegation zone above Sunderland with a 1-0 defeat of second-bottom Reading while Aston Villa and Stoke City produced a dull 0-0 draw.
Leaders Manchester United face champions Manchester City on Sunday protecting a three-point advantage over their neighbours.
Torres had gone two months without scoring a Premier League goal but after scoring twice in his side's 6-1 thrashing of Nordsjaelland in the Champions League in midweek El Nino appears to be re-discovering some confidence in front of goal.
"Torres was always around but we needed to create more chances for him and he will score goals," Benitez, who can land some early silverware when he takes his side to the World Club Cup in Japan next week, told Sky Sports.
CLASSY FINISH
He struck in the 11th minute with a classy finish from Eden Hazard's cross and doubled the lead on the stroke of halftime when he sent Sunderland keeper Simon Mignolet the wrong way from the penalty spot.
Surprisingly it was the first penalty Torres had taken in English football.
Mata was on hand to make it 3-0 in the 49th minute when he converted a rebound after Torres let fly with his left foot and the ball cannoned against the crossbar.
Sunderland, who are heading for a relegation battle, responded with Adam Johnson's sweetly struck shot but Chelsea stood firm in the face of some belated home pressure to move to 29 points, seven behind leaders Manchester United.
QPR drew for a third match in a row since Harry Redknapp replaced Mark Hughes as manager and remain rooted to the bottom of the table having surpassed the 15-match winless streak from the start of a Premier League season recorded by Swindon Town.
Djibril Cisse had given the London side hope of a win when he shot them ahead after 70 minutes but James McCarthy deprived them of an unwanted place in the record books.
Arsenal were good value for their win against West Brom but the main talking point was an apparent dive by Santi Cazorla in the 26th minute which allowed Arteta to score from the spot.
There was no question about the legitimacy of Arsenal's second penalty in the 64th minute when Alex Oxlade-Chamberlain was taken out in the area by Chris Brunt.
Swansea may have lost at home to Norwich in a thrilling encounter in south Wales but Michu's stock is soaring after he underlined his position as the Premier League's top scorer with 12 since his move from Rayo Vallecano.
Goals from Steven Whittaker, Sebastien Bassong and Grant Holt had given Norwich a 3-0 lead at halftime. (Reporting by Martyn Herman; editing by Tony Jimenez and Alison Wildey)
By Ian Graham
BELFAST (Reuters) - Around 2,000 pro-British loyalists rallied in central Belfast on Saturday for the return of the British flag to the roof of city hall after a vote by Irish nationalist councillors to remove it sparked a week of rioting.
Twenty-eight police officers have been injured in the most widespread pro-British street violence for years in the province as the flag became a rallying point for people who feel there have been too many concessions to Irish nationalists.
Rioters fired bricks and petrol bombs at police and burned out cars overnight, hours after U.S. Secretary of State Hillary Clinton called for calm during a visit to the city and warned the peace process was not yet complete.
Loyalist political parties, who share the protesters' desire to remain part of the United Kingdom, condemned the rioting as did the Irish nationalist parties who they share power with.
Around 2,000 people gathered outside the imposing 19th century Baroque city hall, most waving British flags and many hiding their faces with balaclavas or scarves, prompting some local businesses in the area to close.
'NO SURRENDER'
The crowd cheered when one protester burned an Irish tricolour flag and sang the British national anthem before dispersing. Banners declared "Proud to be British" and "No Surrender."
"This goes on until the flag is back above city hall," said protester William Arthur. "Ulster is British and we will not stand for this".
Hundreds of riot police stood by, but did not intervene.
One police officer was injured during trouble in East Belfast as some of the crowd returned home, police said.
Assistant Chief Constable Will Kerr of the Senior Police Service of Northern Ireland said the disorder orchestrated by loyalist paramilitary groups was putting lives at risk.
"I am urging everyone to be calm, take a step back," he said.
LOYALIST FEARS
At least 3,600 people were killed over three decades as Catholic nationalists seeking union with Ireland fought British security forces and mainly Protestant loyalists determined to remain part of the United Kingdom.
A 1998 peace accord has mostly held, although militant nationalists have stepped up attacks in recent years and community relations remain fragile, with riots erupting every few months.
Monday's council decision means the British flag will be flown over city hall on 17 designated days including public holidays each year, as is the case at the provincial assembly at Stormont in the British-controlled province.
Until then, it had flown above the provincial capital's city hall every day since it opened a century ago, a symbol for many Catholic nationalists of Protestant domination.
Its removal has turned the tables, sparking fears of growing nationalist power.
"It's not just that the flag has come down, loyalists really sense that everything is about concessions," said Peter Shirlow, professor of conflict transformation at Queen's University. "Rightly or wrongly they sense that this is a one way process."
The violence, he said, was a sign that while loyalist paramilitaries have not in the past reacted violently to killings by dissident Irish nationalists, they may in future.
"It's a sign that it's getting harder to maintain the peace process within loyalism," he said. "Whether that breaks down is a different matter, but I think it's harder to hold the line." (Reporting by Ian Graham and Conor Humphries; Editing by Sophie Hares)
By Aung Hla Tun
YANGON (Reuters) - Myanmar's government has apologised for injuries, including serious burns, suffered last month by monks and others when riot police cleared camps set up to protest against evictions caused by the expansion of a copper mine.
Minister of Religious Affairs Myint Maung made a formal apology to 29 senior monks and said police regretted the incident, state-owned television reported late on Friday.
Activists said at least 50 people had been injured when riot police moved in at the Monywa mine in the northwest region of Sagaing on November 29. That included more than 20 Buddhist monks, some with burns blamed on incendiary devices thrown by police.
The mine is operated by the military-owned Union of Myanmar Economic Holdings Ltd working with a unit of China North Industries Corp, a Chinese weapons manufacturer.
Anger had grown at the heavy-handed police intervention, reminiscent of the way dissent was stifled under the junta that ruled Myanmar for half a century until President Thein Sein's quasi-civilian, reformist government took office in March 2011.
As monks protested around the country, Thein Sein quickly asked opposition leader and Nobel Peace laureate Aung San Suu Kyi to head an investigation into the incident and the copper mine project.
"The policemen who had to discharge their duties were extremely sorrowful that monks, some novices and other persons were wounded in the copper mining project incident," Myint Maung told the monks, adding that the government would do its utmost to ensure such "undesirable incidents" did not happen again.
"It was found that the monks and novices carried no guilt as they were young and had no knowledge of political tricks," he said.
No mention was made of how the burns were caused. The authorities had previously said police had used tear gas and water cannon.
At a news conference on Thursday, Suu Kyi said it would be premature to blame anyone for the incident.
"It is impossible to satisfy everyone in such an inquiry," she said. "The commission will do its best to reveal the truth and make the best suggestions bravely for the long-term interests of the country, the people, and for cementing democracy."
She said compromise would be necessary between villagers and the operators of the mine.
U.S.-based Human Rights Watch has called the episode a test case for the government's willingness to allow peaceful protest and make the security forces accountable for abuses.
Residents say the $1 billion mine expansion involves the unlawful confiscation of more than 7,800 acres (3,160 hectares) of land.
(Writing by Alan Raybould; Editing by Paul Tait)
LOS ANGELES (Reuters) - The autopsy report on murdered hip hop star Notorious B.I.G. has been released by the Los Angeles County Coroner, more than 15 years after his shooting.
Notorious B.I.G was gunned down at the age of 24 in Los Angeles in the early morning on March 9, 1997, in a drive-by shooting. The rapper was sitting in the passenger seat of a sport-utility vehicle after a party when he was killed.
The report, released quietly last week and obtained by Reuters on Friday, indicates Notorious B.I.G., whose real name was Christopher Wallace, was struck in his arm, back, thigh and abdomen. It said the fatal shot that struck his abdomen perforated his colon, liver, heart and lung.
The murder remains unsolved, and the Los Angeles Police Department declined to comment on Friday on why the report was released at this time. The coroner's office said the report was under a "security hold," which had been lifted by the police department but gave no other details.
Although there was little new to be gleaned from the report, it revived the countless conspiracy theories around the murder.
One prominent theory is of an East Coast-West Coast hip hop feud that saw Notorious B.I.G.'s murder as retribution for the killing of Los Angeles-based rapper Tupac Shakur in 1996, which is also unsolved.
Notorious B.I.G., who was from New York, was known for his witty rhymes as well as his enormous size. He was 6-foot-1 and 395 lbs. at the time of his death, the report said.
(Reporting by Eric Kelsey, editing by Jill Serjeant and Todd Eastham)
By Lauren Tara LaCapra and Jennifer Hoyt Cummings
REUTERS - Morgan Stanley's wealth division, in a change to how it rewards its increasingly important brokerage force, is cutting bonuses tied to the revenue that advisers generate, but also offering discounted stock and new incentives to brokers if they bring in new assets and get their clients to borrow money.
Morgan Stanley Wealth Management announced the 2013 compensation plan Thursday afternoon to its 17,000 brokers.
For the firm, it is a gamble that brokers will be willing to take a cut in a bonus, in exchange for potentially richer rewards for bringing in new business and acquiring shares in the firm at a cheaper price. For brokers, it's also a bet that the company's stock price will rise in the next few years, since a portion of the shares must be held for three years.
"That's a gift that's got strings. They're giving you a discount on stock and ownership in their company but saying, 'Don't leave us and if you do you lose it'," said Tony Riotto, founding partner of Riotto Jones, a recruiting firm for private bankers.
Morgan Stanley shares were down 1.4 percent, closing at $16.74, on Thursday. Its shares are up 11 percent this year.
Morgan Stanley chief executive James Gorman has pledged to investors that he will build out the wealth management business while also cutting $300 million in expenses from the unit. Wealth management makes up about 44 percent of the firm's ongoing revenue.
Nearly four years into its acquisition of the Smith Barney brokerage from Citigroup Inc. , Morgan Stanley is focusing on profit growth, and the new pay plan is meant to align brokers' pay to these goals, including growing its loan book.
To do that, the firm must cut back in other areas. The so-called revenue bonus, which goes to advisers who generate at least $750,000, will be cut by 2 percentage points next year, to a range of 0.5 percent to 4.5 percent. A broker bringing in just that amount will see his revenue bonus drop by $15,000. At 4.5 percent, a broker with $5 million in revenue will get $100,000 less.
A Morgan Stanley official said the cut was made to cover the costs of new bonuses that are tied to the amount of net new assets and new loans the advisers bring in. New assets would come from bringing in new clients or having existing clients increase the amount of funds they place with the firm.
The bonus to award net new assets also comes with the perks of a more flexible vesting schedule and a potentially higher payout than the revenue bonus, but advisers may not welcome it with open arms. That's because in 2013 that bonus will only go to the top 40 percent of performers among peers who've been at the firm about the same length of time. In the current program, advisers don't get scaled against their peers' performance.
"They may decide that 2 percent (revenue bonus) they're losing is not worth what they're getting in a stock that they have to hold for three years," Riotto said.
PRIMARY PAY UNCHANGED
Several advisers interviewed by Reuters after the plan was announced said that their bigger concern had been that profit pressures would lead to changes in the percentage they are paid for revenue they generate - the primary paycheck for a broker. That remains unchanged for 2013.
Greg Fleming, president of the wealth management business, has pledged to deliver a pretax profit margin of around 15 percent by the middle of next year, and eventually margins above 20 percent. Last quarter Morgan Stanley Wealth Management delivered a pretax margin of 13 percent, excluding one-time costs.
At an investor conference on Tuesday, Fleming was asked by an audience member how Morgan Stanley could achieve its profit goals given how much revenue goes to broker pay.
Fleming said it was tough to cut broker pay in a competitive hiring environment, but he was confident the company would hit its profit goals.
"The existing system for compensation also works for shareholders," he said.
The advisers' pay-out grid, industry parlance for the chart used by brokerage firms to determine basic pay, has been left unchanged. Advisers at Morgan Stanley receive a percentage of the revenue they generate, with the percentage amount increasing at certain levels.
Also unchanged was the minimum account size on which the company's advisers can get paid a fee. That was left at $100,000, well below the minimum size of $250,000 at rival Merrill Lynch Wealth Management.
Morgan Stanley rival UBS Wealth Management Americas released its 2013 compensation plan earlier this week, making tweaks to reward advisers for cross selling, but leaving the pay grid unchanged. (Reporting By Jennifer Hoyt Cummings and Lauren Tara LaCapra; Editing by Jennifer Merritt and Leslie Adler)
By Irene Klotz
SAN FRANCISCO (Reuters) - A Colorado start-up run by former NASA managers plans to conduct missions to the moon for about $1.5 billion per expedition, a fraction of what a similar government-run operation would cost, company officials said on Thursday.
"Our vision is to create a reliable and affordable U.S.-based commercial human lunar transportation system," said former Apollo flight director Gerry Griffin, who serves as chairman of the firm, named Golden Spike.
The expeditions would use existing rockets and spacecraft now under development to fly NASA astronauts to the International Space Station.
Depending on how many customers sign up, the company said it could be ready to fly its first mission by 2020. It did not elaborate on any existing or pending contracts with customers or suppliers.
The first mission would require an investment of $7 billion to $8 billion, said Golden Spike President Alan Stern, NASA's former associate administrator for science. Once established, mission costs would drop to about $1.5 billion to fly two people to the moon for up to two days.
"This is a game-changer," Stern told reporters in Washington and on a conference call. "We can fly human lunar missions for the cost of a robotic mission."
Stern declined to specify how many missions the company would need to sell to turn a profit.
"If we only sell three or four expeditions, it's completely upside down. We need to sell a bunch. But we do not need to sell ridiculous numbers," he said.
A market study shows 15 to 25 nations can afford lunar exploration and may want to do so, he added.
Potential customers include civilian space agencies, corporations, research institutes and some extremely wealthy individuals.
"We can make it affordable for mid-sized countries like a Korea, an Indonesia, or a South Africa to be in the business of lunar exploration, which would cost them a great deal more to invent that capability," Stern said.
In addition to advance ticket sales, the company is counting on advertising and marketing campaigns to raise funds.
Golden Spike is not the first company proposing privately funded missions to the moon. Other firms include Moon Express, a mining outfit, and companies participating in a Google-sponsored competition to land a robotic probe on the satellite.
"If I could find investors to get started with, we would be going back to the moon within 10 or 15 years to harvest its energy resources and use them back here on Earth," former Apollo astronaut Harrison "Jack" Schmitt told Reuters in a separate interview.
"The return of investment has to be fairly high because of the perceived risk - in addition to the actual risk to that investment capital - but nevertheless I believe it's possible that it could be done," Schmitt said. (Editing by Tom Brown and Xavier Briand)
