Washington Post Calls PM A "Tragic Figure"; Sensex Down 127 Pts

Wednesday, Sep 05, 2012 WASHINGTON POST CALLS PM A "TRAGIC FIGURE" Almost a month after the Time magazine dubbed Prime Minister Manmohan Singh as an "underachiever", a story published in The Washington Post has tagged him as a "tragic figure'. The American daily refused to apologise after the Congress party sought an apology for publishing the story which came in the backdrop of Parliament deadlock over the alleged coal scam. The controversial news article called Prime Minister "a respected figure on the world stage" but added saying that his "image of the scrupulously honorable, humble and intellectual technocrat has slowly given way to a completely different one: a dithering, ineffectual bureaucrat presiding over a deeply corrupt government". read more   LEAD STORIES COAL SCAM: ELEVENTH DAY OF PARLIAMENT IMPASSE   Parliament was disrupted for eleventh day following uproar over coal block allocation as BJP stuck to its demand for resignation of PM Manmohan Singh. read more SENSEX DOWN 127 PTS ON INSTITUTIONAL SELLING   Markets fell as FIIs may have offloaded some exposure. Re depreciation & ECB meet tomorrow pushed Sensex to 1-month low. Nifty down 48.30 at 5,225.70. read more TELENOR SEEKS TO FREEZE UNITECH'S ASSETS   Telenor has moved the Delhi HC seeking a freeze on Unitech's assets & has filed an indemnity claim against Unitech on account of alleged fraud. read more TOP STORIES • 52 dead, 50 injured in Sivakasi cracker factory fire   • Aug services PMI rises to 55, highest in 6 months   • Finance, oil ministries push for diesel, LPG price hike   • SBI cuts fixed deposit rates by 50-100 bps   • 5 of 25 cancelled blocks alloted to CIL, JSPL: Govt   • SEBI eases KYC norms for FIIs   • July MF investment up 60% at Rs 38,000 cr: SEBI   • Gold price at new record high Rs 31,980   • Rupee loses 25 paise at 6-wk low of 55.91/$   • New low in Parl history: 2 Rajya Sabha MPs in fisticuff   • RBI rules out allowing Mobile wallet facility   • Dhoot said to seek $3 bn for Africa gas block stake   • KF losses understated due to improper accounting   • Jindal Steel buys Canada's CIC Energy for Rs 650 cr   • ICICI planning to allow transactions via Facebook   • GM turns to China to crack India's tough car market   • Pirates hijack ship with 23 Indian sailors near Nigeria   • U.S. Embassy announces new visa processing system   • Google Maps gives live traffic updates in 6 cities   • Michelle Obama urges another term for "change"   more stories TOP VIDEOS Lowering Deposit Mobilisation Due To Slowdown; We Are Trying To Protect Our Domestic Margins: Pratip Chaudhuri, Chairman, SBI   Rs 3/L Hike In Diesel Prices Won't Aid Oil Marketing Companies Much. Current Diesel Loss At Rs 17/L: RK Singh, CMD, BPCL   ECB To Go Ahead With Bond- Buying Only After ESM Ratified. Spain, Italy Asking For Aid Remains The Key Trigger: Bhanu Baweja, Research Head, UBS   AT A GLANCE BSE 17313.34 -127.53 NSE 5225.7 -48.3 TURNOVER Rs. 125,358 cr BSE CASH Rs. 1,937 cr NSE CASH Rs. 8,763 cr NSE F&O Rs. 84,020 cr BULLION GOLD 31522 +73 SILVER 60704 +98 CRUDE NYMEX 94.63 -0.67 BRENT 113.54 -0.64 FOREX $ / Re 55.91 +0.25 £ / Re 88.922 +0.66 € / Re 70.384 +0.51 EVENTS TO WATCH 6 September Inter-Ministerial Group To Meet On De-Allocation Of Coal Blocks Delhi HC To Hear Balwa's Plea In 2G Scam 6-7 September Sixth International Conference On Anti-Counterfeiting & Anti-Piracy, Organised By CII, Hotel Hyatt Regency, Mumbai 8 September Monsoon Session Of Parliament Ends, New Delhi BSE, NSE To Remain Open For Trading 11 September SC To Hear Novartis Plea Over Drug Patents, New Delhi

"India's Prime Minister Manmohan Singh helped set his country on the path to modernity, prosperity and power, but critics say the shy, soft-spoken 79-year-old is in danger of going down in history as a failure." Washington Post Article (Advocating another term for Obama)"He (Obama) reminds me that we are playing a long game here, and that change is hard, and change is slow, and it never happens all at once. But eventually we get there. We always do. For Barack, success isn't about how much money you make, it's about the difference you make in people's lives." Michelle Obama First Lady, U.S. "The law should take its own course and no precipitate action should be taken. The coal blocks which were allocated as per due process, should not be cancelled. Any such cancellation will adversely impact business sentiment." Adi Godrej President, CII