YANGON: Myanmar's junta extended the house arrest of opposition leader Aung San Suu Kyi on Tuesday, a home ministry source said, a move likely to dismay Western nations who promised millions of dollars in aid after Cyclone Nargis.
The source, who asked not to be named, said a government official drove to Suu Kyi's lakeside Yangon villa to read out the six-month extension order in person. Her latest year-long detention order had been due to expire on Tuesday.
The 62-year-old Nobel laureate, whose National League for Democracy (NLD) party won a 1990 election landslide only to be denied power by the army, has now spent nearly 13 of the last 18 years under some form of arrest.
Her latest period of detention started on May 30, 2003 "for her own protection" after clashes between her supporters and pro-junta activists in the northern town of Depayin.
Earlier, the junta arrested 20 people trying to march to Suu Kyi's home.
Although few expected Suu Kyi to be released, the extension is a timely reminder of the ruling military's refusal to make any concessions on the domestic political front despite its grudging acceptance of foreign help after the May 2 cyclone.
Tuesday, May 27, 2008
Monday, May 26, 2008
Rolta to buy US IT biz intelligence co
MUMBAI: Mid-size technology services and IT engineering firm Rolta is learnt to be close to acquiring a US based IT firm in the area of business intelligence.
The firm has been searching for an asset that will add to its skills on the IT side and complement its core strengths in geographic information systems (GIS) and engineering.
In a strategy that is not dissimilar to Wipro’s ‘string-of-pearls’ acquisitions, the firm is building up skills in the areas it is not very strong and where it wants to grow, through acquisitions.
Earlier this year, it had acquired Broech Corporation, an IT company specialising in ERP applications and Oracle database technologies, for $45 million. The acquisition of a business intelligence software firm is a natural extension to this.
While database technologies help to organise information in form that can retrieved and used easily, business intelligence software help in mining this information, and provide a variety of value-add through statistical and analytical tools for intelligent decision making. Prior to this, in 2007, Rolta had acquired a firm in web-GIS systems called Orion Technology Inc.
Rolta’s primary strengths are in GIS and engineering, and GIS-related works contribute nearly 50 per cent to its revenue.
IT services contribute only about 18 per cent of its revenues, but in a recent interview Rolta chairman and managing director Kamal K Singh had said this would go up to 20-25 per cent of revenues in a few years.
“We have drawn up a five-year plan according to which our revenues should touch $ 1 billion by 2010-11. GIS revenues will stay more or less constant and probably come
The firm has been searching for an asset that will add to its skills on the IT side and complement its core strengths in geographic information systems (GIS) and engineering.
In a strategy that is not dissimilar to Wipro’s ‘string-of-pearls’ acquisitions, the firm is building up skills in the areas it is not very strong and where it wants to grow, through acquisitions.
Earlier this year, it had acquired Broech Corporation, an IT company specialising in ERP applications and Oracle database technologies, for $45 million. The acquisition of a business intelligence software firm is a natural extension to this.
While database technologies help to organise information in form that can retrieved and used easily, business intelligence software help in mining this information, and provide a variety of value-add through statistical and analytical tools for intelligent decision making. Prior to this, in 2007, Rolta had acquired a firm in web-GIS systems called Orion Technology Inc.
Rolta’s primary strengths are in GIS and engineering, and GIS-related works contribute nearly 50 per cent to its revenue.
IT services contribute only about 18 per cent of its revenues, but in a recent interview Rolta chairman and managing director Kamal K Singh had said this would go up to 20-25 per cent of revenues in a few years.
“We have drawn up a five-year plan according to which our revenues should touch $ 1 billion by 2010-11. GIS revenues will stay more or less constant and probably come
Reliance leads race for UK-based co.
NEW DELHI: Reliance Communications is likely to emerge a front runner to acquire UK-based Global Virtual Network Operator Vanco, a move that would offer the Indian company a virtual network in various parts of the world.
According to sources, the negotiations are in the last stage and the deal could be closed by week-end. Although the final price of the deal is not known, at its peak the market cap of Vanco stood at $800 million. 12 international players are in the fray including AT&T, BT, T-System, NTT and private equity firms like Platinium and Oakley.
According to sources, the negotiations are in the last stage and the deal could be closed by week-end. Although the final price of the deal is not known, at its peak the market cap of Vanco stood at $800 million. 12 international players are in the fray including AT&T, BT, T-System, NTT and private equity firms like Platinium and Oakley.
Reliance Communications, MTN open negotiations
MUMBAI: Reliance Communications Ltd said on Monday that it has entered into exclusive negotiations with MTN Group, after bigger rival Bharti Airtel said at the weekend it had ended takeover talks with the South African firm. ( Watch )
"Reliance Communications and MTN Group have agreed to enter into exclusive negotiations with respect to a potential combination of their businesses," Reliance Communications said in a statement.
The two firms, which are in negotiations, have agreed to an exclusivity period of 45 days, the statement said.
"We are ... in exclusive negotiations to achieve a partnership, which would provide investors, customers and the people of both companies a global platform for exponential growth," Chairman Anil Ambani said in the statement.
Bharti Airtel on Saturday said it had called off talks after MTN proposed a new structure which it said would have seen the Indian firm becoming a unit of MTN. The two groups had hoped to create the world's sixth-largest mobile operator with more than 130 million subscribers in about two dozen countries.
Analysts said the news was likely to weigh on shares of Reliance Communications.
"The reason investors didn't like talk of the Bharti-MTN deal was the price, and now Reliance Communications will have to pay a price that is at least equal to, or higher than what was being talked about for Bharti," said Arun Kejriwal at investment advisory KRIS.
Media and analysts had speculated that Bharti was eyeing a 51 per cent stake in MTN or engineer their merger in a deal that would value MTN at up to $50 billion.
"Reliance Communications and MTN Group have agreed to enter into exclusive negotiations with respect to a potential combination of their businesses," Reliance Communications said in a statement.
The two firms, which are in negotiations, have agreed to an exclusivity period of 45 days, the statement said.
"We are ... in exclusive negotiations to achieve a partnership, which would provide investors, customers and the people of both companies a global platform for exponential growth," Chairman Anil Ambani said in the statement.
Bharti Airtel on Saturday said it had called off talks after MTN proposed a new structure which it said would have seen the Indian firm becoming a unit of MTN. The two groups had hoped to create the world's sixth-largest mobile operator with more than 130 million subscribers in about two dozen countries.
Analysts said the news was likely to weigh on shares of Reliance Communications.
"The reason investors didn't like talk of the Bharti-MTN deal was the price, and now Reliance Communications will have to pay a price that is at least equal to, or higher than what was being talked about for Bharti," said Arun Kejriwal at investment advisory KRIS.
Media and analysts had speculated that Bharti was eyeing a 51 per cent stake in MTN or engineer their merger in a deal that would value MTN at up to $50 billion.
Musharraf summons Pakistan budget session
ISLAMABAD: President Pervez Musharraf on Monday summoned the budget session of Pakistan's parliament on June 2 during which the PPP-led coalition government is expected to table a package of constitutional reforms aimed at clipping his wings.
Following the nod from Musharraf, the National Assembly secretariat issued a formal notification for the holding of the budget session from June 2. Before the presentation of the budget on June 7, the National Assembly will debate key political, constitutional and security issues.
However, it was not immediately clear whether the government planned to table a package of constitutional reforms aimed at clipping Musharraf's sweeping powers before the budget.
Pakistan People's Party co-chairman Asif Ali Zardari on Sunday unveiled the package which will take away the President's powers to dissolve the parliament and appoint the three service chiefs.
Finance Minister Naveed Qamar told reporters in Karachi that the first budget to be presented by the new PPP-led government will be "pro-poor" and contain various measures aimed at addressing the fiscal deficit.
The budget will not have any "big surprises" and there will be no new taxes for the salaried class, he said, adding there will also be no surprises for the stock market as the budget would be framed after consulting all stakeholders in the capital market
Following the nod from Musharraf, the National Assembly secretariat issued a formal notification for the holding of the budget session from June 2. Before the presentation of the budget on June 7, the National Assembly will debate key political, constitutional and security issues.
However, it was not immediately clear whether the government planned to table a package of constitutional reforms aimed at clipping Musharraf's sweeping powers before the budget.
Pakistan People's Party co-chairman Asif Ali Zardari on Sunday unveiled the package which will take away the President's powers to dissolve the parliament and appoint the three service chiefs.
Finance Minister Naveed Qamar told reporters in Karachi that the first budget to be presented by the new PPP-led government will be "pro-poor" and contain various measures aimed at addressing the fiscal deficit.
The budget will not have any "big surprises" and there will be no new taxes for the salaried class, he said, adding there will also be no surprises for the stock market as the budget would be framed after consulting all stakeholders in the capital market
Raj targets students from UP, Bihar
PUNE: After attacking migrants from UP and Bihar, Maharashtra Navnirman Sena leader Raj Thackeray has now trained his guns at a growing number of students from these states, who come to Pune for higher education. ( Watch )
"Pune, with its large number of reputed universities and institutions imparting higher education is attracting students from these states who are being given admissions on massive donations leaving in the lurch the deserving Marathi aspirants," he said at a party rally held here late last night, defying police ban.
"We will be watching these institutions as the new academic year is approaching. We know that these affluent students from UP and Bihar also indulge in eve teasing and arrogant behaviour. If they persist with this they will be taught a lesson," the MNS leader added.
Thackeray said he would not like to equate those coming from UP and Bihar with the people from other north Indian states. Even states like Punjab and Delhi harbour anti-UP-Bihari sentiments, he claimed.
Twenty eight MNS activists including party general secretary Deepak Paigude were arrested by police for organizing the rally, defying the ban orders imposed to ensure smooth flow of traffic through the city.
On Chhat Pooja, Thackeray said if Railway Minister Lalu Prasad continued to challenge and provoke MNS, he would not be allowed to come out of Mumbai airport to perform it.
"We are not against the pooja but any attempt to turn it into a strength show on part of UP and Bihari migrants will not be tolerated," he added.
"Pune, with its large number of reputed universities and institutions imparting higher education is attracting students from these states who are being given admissions on massive donations leaving in the lurch the deserving Marathi aspirants," he said at a party rally held here late last night, defying police ban.
"We will be watching these institutions as the new academic year is approaching. We know that these affluent students from UP and Bihar also indulge in eve teasing and arrogant behaviour. If they persist with this they will be taught a lesson," the MNS leader added.
Thackeray said he would not like to equate those coming from UP and Bihar with the people from other north Indian states. Even states like Punjab and Delhi harbour anti-UP-Bihari sentiments, he claimed.
Twenty eight MNS activists including party general secretary Deepak Paigude were arrested by police for organizing the rally, defying the ban orders imposed to ensure smooth flow of traffic through the city.
On Chhat Pooja, Thackeray said if Railway Minister Lalu Prasad continued to challenge and provoke MNS, he would not be allowed to come out of Mumbai airport to perform it.
"We are not against the pooja but any attempt to turn it into a strength show on part of UP and Bihari migrants will not be tolerated," he added.
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