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Pak briefs 20 missions on Baglihar issue

      Islamabad: Pakistan has briefed as many as 20 diplomats from key European and Western missions, including Canada, US, China, Australia and Japan, about details of the row over Baglihar Dam project with India. The move was undertaken after Pakistan Prime Minister Shaukat Aziz gave green light to relevant ministries to prepare for international arbitration. The briefing, given by Water and Power Secretary Ashfaq Mehmud who led the Pakistan delegation at the last round of talks on the Baglihar issue with India last week, lasted nearly 90 minutes, the Dawn reported today. Pakistan Foreign Ministry's South Asia director-general Jalil Abbas Jilani, who was a member of the Pakistani delegation, was also present on the occasion. The secretary of water and power explained to envoys technical aspects involved in the issue, the requirements of the 1960 bilateral Indus Waters Treaty and how the Indians were departing from it, sources told Dawn later.

Rach makes surprise resignation as hockey coach (Go To Top)

     New Delhi: Heavily criticised in the recent past for the Indian hockey team's dismal performance, Gerhard Rach has relinquished his position as coach. The German coach began his stint in India when he took on the mantle of coach from Rajinder Singh, one month before the start of the Athens Olympics last year. Rach submitted his resignation earlier this afternoon to the Indian Hockey Federation. Rach will now be taking over as coach of the Egyptian hockey team. In his place, assistant coach Jagbir Singh will step in for the Indian hockey team. The IHF had earlier asked Rach to proceed on leave before Christmas last month and was to report back on January 9.

No move to tax foreign investors: Chidambaram (Go To Top)

     Mumbai: Finance Minister P Chidambaram on Wednesday rejected any move to tax foreign funds investing in Indian stock markets. Earlier RBI Governor YV Reddy had reportedly said that unchecked foreign fund inflows and outflows were an important cause for volatility in the Indian markets. In a speech, Reddy said it was time to think of taxing purchase of local shares by foreign investors. He also said India needed a mechanism to check the background of foreign institutional investors, and that there should be some kind of a limit set on how much money FIIs can put into the markets at one go. However, Chidambaram said Reddy's statements had been misunderstood, and the RBI would soon issue a clarification in this regard.

RIL buys back 4 lakh shares at Rs 519 each (Go To Top)

     New Delhi: Reliance Industries continues to take advantage of fall in its share prices by buying back four lakh more shares at an average price of Rs 519 against an approved price of up to Rs 570. The company on Wednesday shelled out Rs 20.76 crore to buy the shares taking the total number of shares bought back to over 13 lakh during the first three days of commencing the buy-back programme. RIL communicated today's transaction to the stock exchanges on the quantity bought and money spent. Of the total outlay of Rs 2,999 crore for the purpose the company has spent merely Rs 71.26 crore.