Thursday, December 1, 2011
Metal stocks lead the rally
(Thu, 1 Dec 11:30 am)
Indian stock markets indices traded strong over the last two hours of trade on the back of sustained buying activity witnessed across index heavyweights. Metal and Banking stocks witnessed maximum buying interest.
The BSE-Sensex is up by 437 points, while the NSE-Nifty is up 127 points. BSE Mid Cap index and the BSE Small Cap index are up by 1.8% and 1.3% respectively. The rupee is trading at 51.71 to the US dollar.
Steel stocks are trading in the green led by Steel Authority of India Steel Authority of India (SAIL) and Tata Steel. According to a leading financial daily, Steel Authority of India (SAIL) led consortium which has won the bid for Hajigak iron ore mines in Afghanistan, may have to invest a total of about US$ 11 bn in developing the project over the next 8 to 10 years. The consortium proposes to set up a 6 million tonne per annum (mtpa) steel plant in two phases of 3 mpta each with an investment of US$ 7 to 7.5 bn. It will also set up a 1,000 Mega Watt (MW) power plant and a road-rail link of about 200 km for transporting the mineral from the mines to the plant site. The company is planning to invest US$ 75 m in conducting geological studies of the deposit over a 3 year period by a team of experts. SAIL is planning to employ a 48,000 strong workforce and establish a corporate office near Bamiyan to oversee the project work.
Mining stocks are trading strong led by National Mineral Development Corporation (NMDC) and Manganese Ore India Limited (MOIL Limited). According to a leading financial daily, Coal India, which has won a five year licence for exploration and development of two coal blocks in Mozambique, has shortlisted 3 companies for exploration of the block. The 3 companies are Mining Associates, Indu-CBS Joint Venture and Kartikeyan Private Limited. Coal India has asked these 3 companies to justify the price bids following which they will finalise the lowest bidder. Coal India hopes to start the first phase of production by 2013-14. With an initial estimated reserve of 1 bn tonnes, the coal will be imported to cater to domestic demand from customers in Western India.
equity master
Indian stock markets indices traded strong over the last two hours of trade on the back of sustained buying activity witnessed across index heavyweights. Metal and Banking stocks witnessed maximum buying interest.
The BSE-Sensex is up by 437 points, while the NSE-Nifty is up 127 points. BSE Mid Cap index and the BSE Small Cap index are up by 1.8% and 1.3% respectively. The rupee is trading at 51.71 to the US dollar.
Steel stocks are trading in the green led by Steel Authority of India Steel Authority of India (SAIL) and Tata Steel. According to a leading financial daily, Steel Authority of India (SAIL) led consortium which has won the bid for Hajigak iron ore mines in Afghanistan, may have to invest a total of about US$ 11 bn in developing the project over the next 8 to 10 years. The consortium proposes to set up a 6 million tonne per annum (mtpa) steel plant in two phases of 3 mpta each with an investment of US$ 7 to 7.5 bn. It will also set up a 1,000 Mega Watt (MW) power plant and a road-rail link of about 200 km for transporting the mineral from the mines to the plant site. The company is planning to invest US$ 75 m in conducting geological studies of the deposit over a 3 year period by a team of experts. SAIL is planning to employ a 48,000 strong workforce and establish a corporate office near Bamiyan to oversee the project work.
Mining stocks are trading strong led by National Mineral Development Corporation (NMDC) and Manganese Ore India Limited (MOIL Limited). According to a leading financial daily, Coal India, which has won a five year licence for exploration and development of two coal blocks in Mozambique, has shortlisted 3 companies for exploration of the block. The 3 companies are Mining Associates, Indu-CBS Joint Venture and Kartikeyan Private Limited. Coal India has asked these 3 companies to justify the price bids following which they will finalise the lowest bidder. Coal India hopes to start the first phase of production by 2013-14. With an initial estimated reserve of 1 bn tonnes, the coal will be imported to cater to domestic demand from customers in Western India.
equity master
Wednesday, November 30, 2011
Balochistan varsity remains closed over teacher’s murder
Staff Report
QUETTA: Balochistan University remained closed on Wednesday to mourn the killing of lecturer Muhammad Danish, who was shot dead by unknown assailants the other day.
Balochistan Academic Staff Association announced a three-day mourning period to condemn the killing. “The association off and on asked for the protection of teachers in Balochistan, but the government turned a deaf ear to this demand. We lost five university teachers. All the murders should be investigated,” said Kalimullah Barech, president of the association.
According to the university’s public relations department’s statement, academic activities in Balochistan University would be restored today (Thursday). A senior police official termed the killing as sectarian targeted killing. However, no group has so far claimed responsibility for the murder. Danish was a lecturer in Science and Informational Technology Department of the University of Balochistan.
Daily Times
QUETTA: Balochistan University remained closed on Wednesday to mourn the killing of lecturer Muhammad Danish, who was shot dead by unknown assailants the other day.
Balochistan Academic Staff Association announced a three-day mourning period to condemn the killing. “The association off and on asked for the protection of teachers in Balochistan, but the government turned a deaf ear to this demand. We lost five university teachers. All the murders should be investigated,” said Kalimullah Barech, president of the association.
According to the university’s public relations department’s statement, academic activities in Balochistan University would be restored today (Thursday). A senior police official termed the killing as sectarian targeted killing. However, no group has so far claimed responsibility for the murder. Danish was a lecturer in Science and Informational Technology Department of the University of Balochistan.
Daily Times
Not all deaths are mourned the same
BY MURTAZA HAIDER ON NOVEMBER 30TH, 2011
Pakistanis of all political and religious persuasions are equally enraged by the tragic death of their soldiers caused by an indiscriminate air attack by the Nato forces. Pakistani soldiers, stationed at a border post in Mohmand region, were attacked by Nato planes and helicopters killing 24 and injuring several more.
Several politicians and citizens in general are enraged over the violation of their sovereignty. While this outburst of grief is understandable and very much justified, one wonders why other acts of violence against ethnic and sectarian minorities in Pakistan have not stirred the same outpour of grief and anger that we witness today. Could it be true that we are enraged only when others stand accused of violence against us, but when its Muslim-on-Muslim violence, we are much complacent.
The purpose here is not to undermine the ultimate sacrifice offered by Pakistani soldiers, who continue to lay their lives in hundreds while defending Pakistan against the militant fundamentalists. The motive here is to point out the lack of or, at best, muted response to the senseless violence committed against Ahmadis, Balochis, Christians, Shias and other minorities in Pakistan.
It was only in September 2011 when 29 Shias from Quetta’s Hazara community were killed in a premeditated attack. They were travelling to Iran in a bus that was intercepted near Mustang by armed militants who killed 29 while gravely injured several others. Compared to the anger and grief over the death of 24 soldiers, the reaction to Hazara murders has been mute at best. The list of political and community leaders from Punjab and Sindh who visited Quetta to condole with the Hazaras is very short and did not include any mainstream politician. Not even 50 students from a Punjab-based University marched in solidarity with the Shias of Quetta even when Shia academics were being killed by the unknown assailants (Professor Danish Alam was murdered earlier today). However, thousands marched in Lahore today for the slain soldiers while being led by their professors.
The State’s indifference to the plight of Hazaras drove Syed Nasir Ali Shah, a legislator belonging to the ruling Peoples Party, to stage a month-long sit-in in front of the Parliament. It took Prime Minister Yousaf Raza Gilani a month to react to the protest staged by a member of his own party. On the other hand, the Gilani government reacted with a sharp rebuke to Nato within hours of the attack on troops in Mohmand region.
Hundreds of Shia Hazaras have fallen victim to the terrorist violence perpetrated by the extremist elements belonging to hardline sects of Islam. While many have been killed in dark alleys (who jo tareek raahon main maray gaey), the Hazara community is striving to ensure that the victims of sectarian violence are not forgotten. The community has prepared a list of 435 victims who have been killed since 1999 in sectarian violence. The bulk of killings took place in the past few years. More than 90 Shias from Hazara community have been killed since July 2011 alone.
The list of victims deserves a considerate read and reflection. Hazara community’s sacrifices are indeed supreme. The list includes children as young as five, as well as the elderly. The very unfortunate victims include father and son pairs who met violent death on the same day. A mother and daughter pair met the same fate. Hundreds of dead are young students.
The targeted attacks including bomb blasts have caused havoc in the Hazara community. What to say of a city where places of worship are the most hazardous sites. The July 2003 attack at the old Imam Bargah in Quetta killed 51, including 5-year old Ali Akbar. A year later in March, an attack on the 10th of Muharram killed 36 members of the Hazara community. In September 2010, when Shias marched in Quetta in solidarity with the displaced Arabs, they were rewarded with an attack that left 62 Shia Hazaras dead.
The Hazara community is not safe even in the cemeteries. In May 2011, militants attacked visitors at the Bahisht-e-Zahra cemetery in Hazara Town and killed seven Shias. Even hospitals fail to offer refuge to the community. An attack in April 2010 in Quetta’s Civil Hospital left six Shia Hazaras dead. Earlieri n July 2008, when the community sought legal redress, their lawyer, Ghulam Mustafa Qureshi, was assassinated. Several Hazara police officers, including 13 young cadets, have also become victims of targeted sectarian killings.
If Pakistan’s civil and military leaders are serious about addressing the grievances of the Hazara community, they could take the first step by visiting the two cemeteries in Quetta, Bahisht-e-Zahra in Hazara Town and Bahisht-e-Zainab on Alamdar Road, where the Hazaras have buried over 350 victims of sectarian violence. These cemeteries are a testament to the courage and resilience of a community whose right to live in peace has been violated in the presence of a democratically elected government.
Many in Pakistan believe that the Nato’s attack in Mohmand is an attack on Pakistan’s sovereignty. If sovereignty implies “having supreme, independent authority over a geographic area” then Pakistan has lost sovereignty in most of Balochistan, including Quetta. Hundreds of Shia victims are proof that the State has lost control of Quetta.
The State restores law and order in Quetta. It has to reestablish its writ neighbourhood-by-neighbourhood, street-by-street. It can start with Saryab Road where more than 50 members of Hazara community have been killed in several attacks over the past few years.
Meanwhile Pakistanis have to learn to embrace all victims of violence as equals. While we grieve for our fallen soldiers, we should do the same for the civilian victims of sectarian violence. If our anger and grief is determined not by the innocence of the victims but by their ethnicity and sectarian affiliations, we will continue to drift towards even a more violent future.
Murtaza Haider, Ph.D. is the Associate Dean of research and graduate programs at the Ted Rogers School of Management at Ryerson University in Toronto. He can be reached by email at murtaza.haider@ryerson.ca
Several politicians and citizens in general are enraged over the violation of their sovereignty. While this outburst of grief is understandable and very much justified, one wonders why other acts of violence against ethnic and sectarian minorities in Pakistan have not stirred the same outpour of grief and anger that we witness today. Could it be true that we are enraged only when others stand accused of violence against us, but when its Muslim-on-Muslim violence, we are much complacent.
The purpose here is not to undermine the ultimate sacrifice offered by Pakistani soldiers, who continue to lay their lives in hundreds while defending Pakistan against the militant fundamentalists. The motive here is to point out the lack of or, at best, muted response to the senseless violence committed against Ahmadis, Balochis, Christians, Shias and other minorities in Pakistan.
It was only in September 2011 when 29 Shias from Quetta’s Hazara community were killed in a premeditated attack. They were travelling to Iran in a bus that was intercepted near Mustang by armed militants who killed 29 while gravely injured several others. Compared to the anger and grief over the death of 24 soldiers, the reaction to Hazara murders has been mute at best. The list of political and community leaders from Punjab and Sindh who visited Quetta to condole with the Hazaras is very short and did not include any mainstream politician. Not even 50 students from a Punjab-based University marched in solidarity with the Shias of Quetta even when Shia academics were being killed by the unknown assailants (Professor Danish Alam was murdered earlier today). However, thousands marched in Lahore today for the slain soldiers while being led by their professors.
The State’s indifference to the plight of Hazaras drove Syed Nasir Ali Shah, a legislator belonging to the ruling Peoples Party, to stage a month-long sit-in in front of the Parliament. It took Prime Minister Yousaf Raza Gilani a month to react to the protest staged by a member of his own party. On the other hand, the Gilani government reacted with a sharp rebuke to Nato within hours of the attack on troops in Mohmand region.
Hundreds of Shia Hazaras have fallen victim to the terrorist violence perpetrated by the extremist elements belonging to hardline sects of Islam. While many have been killed in dark alleys (who jo tareek raahon main maray gaey), the Hazara community is striving to ensure that the victims of sectarian violence are not forgotten. The community has prepared a list of 435 victims who have been killed since 1999 in sectarian violence. The bulk of killings took place in the past few years. More than 90 Shias from Hazara community have been killed since July 2011 alone.
The list of victims deserves a considerate read and reflection. Hazara community’s sacrifices are indeed supreme. The list includes children as young as five, as well as the elderly. The very unfortunate victims include father and son pairs who met violent death on the same day. A mother and daughter pair met the same fate. Hundreds of dead are young students.
The targeted attacks including bomb blasts have caused havoc in the Hazara community. What to say of a city where places of worship are the most hazardous sites. The July 2003 attack at the old Imam Bargah in Quetta killed 51, including 5-year old Ali Akbar. A year later in March, an attack on the 10th of Muharram killed 36 members of the Hazara community. In September 2010, when Shias marched in Quetta in solidarity with the displaced Arabs, they were rewarded with an attack that left 62 Shia Hazaras dead.
The Hazara community is not safe even in the cemeteries. In May 2011, militants attacked visitors at the Bahisht-e-Zahra cemetery in Hazara Town and killed seven Shias. Even hospitals fail to offer refuge to the community. An attack in April 2010 in Quetta’s Civil Hospital left six Shia Hazaras dead. Earlieri n July 2008, when the community sought legal redress, their lawyer, Ghulam Mustafa Qureshi, was assassinated. Several Hazara police officers, including 13 young cadets, have also become victims of targeted sectarian killings.
If Pakistan’s civil and military leaders are serious about addressing the grievances of the Hazara community, they could take the first step by visiting the two cemeteries in Quetta, Bahisht-e-Zahra in Hazara Town and Bahisht-e-Zainab on Alamdar Road, where the Hazaras have buried over 350 victims of sectarian violence. These cemeteries are a testament to the courage and resilience of a community whose right to live in peace has been violated in the presence of a democratically elected government.
Many in Pakistan believe that the Nato’s attack in Mohmand is an attack on Pakistan’s sovereignty. If sovereignty implies “having supreme, independent authority over a geographic area” then Pakistan has lost sovereignty in most of Balochistan, including Quetta. Hundreds of Shia victims are proof that the State has lost control of Quetta.
The State restores law and order in Quetta. It has to reestablish its writ neighbourhood-by-neighbourhood, street-by-street. It can start with Saryab Road where more than 50 members of Hazara community have been killed in several attacks over the past few years.
Meanwhile Pakistanis have to learn to embrace all victims of violence as equals. While we grieve for our fallen soldiers, we should do the same for the civilian victims of sectarian violence. If our anger and grief is determined not by the innocence of the victims but by their ethnicity and sectarian affiliations, we will continue to drift towards even a more violent future.
Kabul doles out mineral mining rights
Published: Nov. 30, 2011 at 7:21 AM
KABUL, Afghanistan, Nov. 30 (UPI) -- Exploration of mineral deposits in Afghanistan could begin as early as 2015 after Afghan mining ministry officials said new development rights were awarded.
A consortium of Indian companies led by state-owned Steel Authority of India landed a $10.3 billion deal for three mining sites in central Afghanistan, the BBC reports.
U.S. defense officials estimated in 2010 that there could be as much as $1 trillion worth of iron, copper, cobalt, gold and lithium in Afghanistan.
U.S. Geological Survey Director Marcia McNutt has said disclosure of the resource potential in Afghanistan might allay concerns about investing in such frontier areas.
A 2007 survey found an estimated 1.5 million metric tons of potential rare earth resources in southern Afghanistan. The international community gets more than 95 percent of its rare earth minerals from China.
Afghan officials said production of iron ore deposits in Bamiyan province could begin in 2015. The awards, they said, represent some of the biggest foreign investments in Afghanistan.
The British broadcaster added that Canadian mining company Kilo Goldmines also secured exploration rights in Afghanistan. The company, in a statement, said it had submitted a bid to explore iron ore deposits in Bamiyan but hadn't been notified by Kabul of the outcome of the bidding process.
UPI
KABUL, Afghanistan, Nov. 30 (UPI) -- Exploration of mineral deposits in Afghanistan could begin as early as 2015 after Afghan mining ministry officials said new development rights were awarded.
A consortium of Indian companies led by state-owned Steel Authority of India landed a $10.3 billion deal for three mining sites in central Afghanistan, the BBC reports.
U.S. defense officials estimated in 2010 that there could be as much as $1 trillion worth of iron, copper, cobalt, gold and lithium in Afghanistan.
U.S. Geological Survey Director Marcia McNutt has said disclosure of the resource potential in Afghanistan might allay concerns about investing in such frontier areas.
A 2007 survey found an estimated 1.5 million metric tons of potential rare earth resources in southern Afghanistan. The international community gets more than 95 percent of its rare earth minerals from China.
Afghan officials said production of iron ore deposits in Bamiyan province could begin in 2015. The awards, they said, represent some of the biggest foreign investments in Afghanistan.
The British broadcaster added that Canadian mining company Kilo Goldmines also secured exploration rights in Afghanistan. The company, in a statement, said it had submitted a bid to explore iron ore deposits in Bamiyan but hadn't been notified by Kabul of the outcome of the bidding process.
UPI
Tuesday, November 29, 2011
Balochistan University lecturer killed in Quetta
By Shehzad Baloch
Published: November 29, 2011
QUETTA: A lecturer of Balochistan University was killed by unknown assailants in the Zarghoonabad area of Quetta on Tuesday.
Mohammad Danish Alam, a lecturer of the Science and Information Technology Department, was travelling on a motorbike and was headed to the university when gunmen opened fire on him and escaped.
Alam received gunshot wounds to the head and chest. He died on the spot.
The body was shifted to Provincial Sundeman Hospital and was later handed over to the heirs after medico legal formalities.
“The victim received five bullets,” doctors said.
A senior police official, while speaking with The Express Tribune, said that Alam belonged to the Shia sect and added that there was a possibility that the incident was a sectarian target killing. “Police are investigating the murder,” he added.
“Danish belonged to Gilgit and had no enmity with anyone. He spent seven years as a lecturer in the Science and Information Technology Department of the university,” one of his colleagues said.
The Academic Staff Association has demanded that the government launch a probe into the killing and bring the culprits to justice.
The university will be closed on Wednesday to mourn the lecturer’s killing.
Alam is the second university lecturer to have been targeted this year. Five university professors and lecturers have been killed since 2008.
Professor of Islamic Studies, Saba Dashtiari was shot dead on Sayrab road this year. The other victims include Pro-Vice Chancellor Professor Safdar Kyani, Nazima Talib, lecturer of Media and Journalism Department and Professor Library and Sciences Department Khurshed Ansari. There has been no progress in any of the cases so far.
The Express Tribune
Published: November 29, 2011
QUETTA: A lecturer of Balochistan University was killed by unknown assailants in the Zarghoonabad area of Quetta on Tuesday.
Mohammad Danish Alam, a lecturer of the Science and Information Technology Department, was travelling on a motorbike and was headed to the university when gunmen opened fire on him and escaped.
Alam received gunshot wounds to the head and chest. He died on the spot.
The body was shifted to Provincial Sundeman Hospital and was later handed over to the heirs after medico legal formalities.
“The victim received five bullets,” doctors said.
A senior police official, while speaking with The Express Tribune, said that Alam belonged to the Shia sect and added that there was a possibility that the incident was a sectarian target killing. “Police are investigating the murder,” he added.
“Danish belonged to Gilgit and had no enmity with anyone. He spent seven years as a lecturer in the Science and Information Technology Department of the university,” one of his colleagues said.
The Academic Staff Association has demanded that the government launch a probe into the killing and bring the culprits to justice.
The university will be closed on Wednesday to mourn the lecturer’s killing.
Alam is the second university lecturer to have been targeted this year. Five university professors and lecturers have been killed since 2008.
Professor of Islamic Studies, Saba Dashtiari was shot dead on Sayrab road this year. The other victims include Pro-Vice Chancellor Professor Safdar Kyani, Nazima Talib, lecturer of Media and Journalism Department and Professor Library and Sciences Department Khurshed Ansari. There has been no progress in any of the cases so far.
The Express Tribune
SAIL-led group bags $10.3 billion mining contracts in Afghanistan
29 NOV, 2011, 01.56PM IST, AFP
A consortium of Indian companies has won the rights to develop Afghanistan's largest iron ore deposits, a mining ministry official said on Tuesday, underscoring growing ties between the two countries.
Seven Indian companies, led by the state-owned Steel Authority of India ( SAIL), won a $10.3 billion deal to exploit three of four blocks at the Hajigak mine in Bamiyan, central Afghanistan, said ministry official Abdul Jalil Jumrani.
A fourth block was awarded to Canada's Kilo Goldmines, he said, with contracts due to be signed in February or March and exploitation of the mine's estimated two billion tonnes of iron ore deposits expected to begin by 2015.
Last month, Afghanistan signed a strategic partnership deal with India aiming to boost trade, security and cultural links, triggering consternation in neighbouring Pakistan, India's arch-rival for influence in the region.
Afghanistan is believed to have mineral reserves worth as much as $3 trillion which could theoretically generate billions of dollars in tax revenue for the troubled country.
But exploitation of these resources faces massive hurdles due to ongoing instability after 30 years of war in the country, woeful infrastructure, and endemic corruption.
As part of the Hajigak deal India has pledged to invest in surrounding infrastructure projects, including $1 billion to build a railway and monies for a 800-megawatt power plant and 200-kilometre (140-mile) road, Jumrani said. Kilo Goldmines will invest $3.2 billion, he added.
The Economic Times
A consortium of Indian companies has won the rights to develop Afghanistan's largest iron ore deposits, a mining ministry official said on Tuesday, underscoring growing ties between the two countries.
Seven Indian companies, led by the state-owned Steel Authority of India ( SAIL), won a $10.3 billion deal to exploit three of four blocks at the Hajigak mine in Bamiyan, central Afghanistan, said ministry official Abdul Jalil Jumrani.
A fourth block was awarded to Canada's Kilo Goldmines, he said, with contracts due to be signed in February or March and exploitation of the mine's estimated two billion tonnes of iron ore deposits expected to begin by 2015.
Last month, Afghanistan signed a strategic partnership deal with India aiming to boost trade, security and cultural links, triggering consternation in neighbouring Pakistan, India's arch-rival for influence in the region.
Afghanistan is believed to have mineral reserves worth as much as $3 trillion which could theoretically generate billions of dollars in tax revenue for the troubled country.
But exploitation of these resources faces massive hurdles due to ongoing instability after 30 years of war in the country, woeful infrastructure, and endemic corruption.
As part of the Hajigak deal India has pledged to invest in surrounding infrastructure projects, including $1 billion to build a railway and monies for a 800-megawatt power plant and 200-kilometre (140-mile) road, Jumrani said. Kilo Goldmines will invest $3.2 billion, he added.
The Economic Times
Subscribe to:
Posts (Atom)