Little expectations from Obama''s visit: India Inc
India making 'serious strides' on business reform
U.S. jobless claims rise 20,000 last week
President Obama likely to have refueling halt in Pakistan enroute to Mumbai?
US shouldn''t be protectionist, says BJP ahead of Obama visit
Analysts bullish Sensex may surpass record 21,200 mark tomorrow
FIIs raise stake in 25 Sensex companiesSeparatist leader Shabir Shah manhandled by BJYM activists
Indian Holocaust My Father`s Life and Time - FIVE Hundred TWENTY TWO
Palash Biswas
http://indianholocaustmyfatherslifeandtime.blogspot.com/
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Econimics Decides Future of America as Faith Determines Everything in India!Though,Analysts bullish Sensex may surpass record 21,200 mark tomorrow!
Obama says Asia trip to focus on job creation!
Meanwhile,Chinese have remodeled US President Barack Obama as a blow-up sex doll.
On the other hand,President Obama likely to have refueling halt in Pakistan enroute to Mumbai?
An elaborate security drill involving nearly 5,000 US and Indian personnel was conducted today at different venues and routes that are on the itinerary of US President Barack Obama who will be visiting the city over the week-end. The largescale rehearsal by gun-toting NSG and Force One commandos was carried out at the venues Obama would visit and the routes his convoy would take, Deputy Police Commissioner (Operations) Rajkumar Vatkar said.
A doll wearing a dark blue suit and red tie, and with Obama's face carefully screen-printed onto its head, was exhibited at the recent 8th Sex Culture Festival in the southern city of Guangzhou.
The doll was snapped by Chinese state media nestling behind several other standard plastic female toys.
Obama is widely popular in China, and a "Maobama" t-shirt, bearing an image of his face crossed with a portrait of Chairman Mao, has become a best-seller.
The Guangzhou show was visited by 'tens of thousands' of people, according to a spokesman for organisers Guangdong Gongchuang Economic Development company.
One star attraction was a female doll costing 98,000 yuan.
"We do not know which manufacturer produced this doll," the Telegraph quoted the spokesman as saying.
Stock market bellwether Sensex hit an all-time closing high of 20,893-mark today and analysts are bullish that the index may surpass its life-time peak of 21,206.77 tomorrow on the auspicious occasion of Diwali .
According to equity analysts, there is enough liquidity in the capital market left out after Coal India's mega Rs 15,000 crore IPO and FIIs that are main drivers of local markets are upbeat post the second round of quantitative easing by the US.
"Going ahead, we expect good amount of buying coming in markets with further easing in US and expectation of easing in economies like Japan and further return of liquidity in local market after Coal India listing," SMC Global Research Head (Retail) Saurabh Jain said.
Following today's rally of 428 points, the Sensex is just 313 points away from its all-time intra-day peak of 21,206.77 points, scaled on January 10, 2008.
"It is a bright way to celebrate the festival of lights," said a broker.
"Market ended the day with outstanding gains as investors brushed aside concerns on rising interest rates and welcomed the fresh monetary easing by the Federal Reserve," India Info- line Head of Research Amar Ambani said.
A one-hour muhurat or inaugural trading will be conducted tomorrow to mark the beginning of Samvat 2067 on the occasion of Diwali.
"The economy is witnessing a smart growth. Dollar is also expected to weaken against the rupee in the coming year, which will further encourage more of the FII inflows. The Dalal Street would see a smart performance," Geojit BNP Paribas Financial Services Research Head Alex Mathews said.
Coal India made a big-bang debut today and closed nearly 40 per cent higher than its IPO issue price of Rs 245 a share.
CIL shares gained by nearly 40 per cent to Rs 342.35 on the BSE during today's session, making the coal miner India's fourth-most valued Indian entity with a total market cap of Rs 2.16 lakh crore.
US mid-term elections: Mixed bag for India
IBNLive.com - 4 hours agoNew Delhi: If the 2008 US Presidential vote was about Change, the 2010 mid-term vote was about disappointed hope that little had changed in the US economy. ...
Pres. Obama Visit to India Will Cost $200 Million a Day with 40 Planes
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Reuters - Patricia Zengerle - Nov 3, 2010WASHINGTON (Reuters) - A weakened President Barack Obama, hit by big Democratic Party losses in midterm elections, on Friday leaves for ...
Welcome Obama! India Inc. Is Here To Help
NPR - 8 hours agoObama, weakened by Republican gains in Congressional midterm elections, is bringing 250 US executives including GE chief Jeffrey Immelt and Honeywell's ...
Obama signals tough stance on prickly India issues
Reuters India - Krittivas Mukherjee, Daniel Magnowski - Nov 3, 2010Obama's visit will come days after his Democrats were punished in mid-term elections over the sluggish economic recovery and high domestic unemployment. ...
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mydigitalfc.com - Nov 2, 2010Observing that the US midterm election season has resurrected unfounded fears about outsourcing of US jobs to India, the report also noted that the US ...
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Reuters India - Larry Downing - Nov 2, 2010The trip begins three days after the midterm congressional elections in which voters are expected to punish his fellow Democrats for the sputtering US ...
2 Nov, 2010, 01.08PM IST, Rajesh Chandramouli,TNN
FIIs raise stake in 25 Sensex companies
Foreign institutional investors (FIIs) have increased their stake in 25 out of the 30 sensex companies for the quarter ended September 2010 compared to the June quarter.FII inflows for the calendar year as of September 2010 stood at $20 billion beating the $17.7 billion net inflows recorded in whole of 2007, just before the sub-prime mess shattered global markets.
Of this $20 billion, around $15 billion was invested in secondary stock purchases while $5 billion was infused into IPOs, QIPs and rights offers. Mirroring the increased fund flows, BSE sensex closed at 20,069 points on September 30 as against 17,700 points during the beginning of the quarter.
According to CMIE data, FIIs increased their stake in all but five companies—Cipla (down 1%), Wipro (0.72%), Infosys (0.06%), Reliance Industries (0.42%) and BHEL (0.19%).
"Most of the stocks which have shown an increase in prices were driven by huge FII buying. For instance, HDFC Bank which saw an increase in FII holdings by 2.27% during the quarter rose nearly 30% to Rs 2,481 from Rs 1,915 in the three months. Reliance which saw a drop in FII holdings saw its stock price fall to Rs 986 from Rs 1087," said a dealer with a brokerage, adding that this segment was the prime mover of the markets.
"India continues to be a favoured destination for FIIs, and would continue to be so because of its strong fundamentals. This is already reflected in the FII inflows towards the country, which have already reached all-time highs," Dinesh Thakkar, CMD of Angel Broking told TOI.
"The valuations at current juncture are closer to the fair value zone and not over priced. Thus from a nearterm perspective given the fundamentals and valuations, we believe that the markets could continue to consolidate at these levels for some time before making another upward move from here on. We expect sensex to be around 21,600 levels by March 2011."
Even as fund flows continue to propel Indian stocks, a section of marketmen are of the view that stock prices have become more pricey.
For instance, in the tech space, TCS is trading at 29.2 times its price earning ratio in October, Infosys is around 27.8 times its PE now, while Accenture is trading at 17.1 times and CSC at 9.3 times its its priceearning ratio.
Stock market benchmark Sensex climbed 120 points today on the auspicious occasion of 'Dhanteras', and ahead of Coal India's debut tomorrow, to close at its highest level in three weeks on strong capital inflows.
In sync with the firm global sentiment, the Bombay stock Exchange's 30-share sensitive index settled the day higher by 120.05 points, or 0.59 per cent, at 20,465.74-- its best close since October 14, when the index had ended at 20,497.64.
The wide-based 50-share Nifty Index of the National Stock Exchange gained 0.68 per cent to finish the day at 6,160.50.
The upswing was led by metals, auto and financial stocks. The only laggard was oil & gas sector, with index heavyweight Reliance Industries Ltd among the major drags. RIL shed 0.8 per cent.
Analysts said all eyes are now on decision from the US Fed meet on its policy, especially on further economic stimulus to boost global economy and review from central banks in the UK, EU and Japan.
"Markets managed to garner smart gains on the auspicious occasion of 'Dhanteras', which is synonymous with wealth and prosperity. Besides, CIL's performance will decide the movement on the Street tomorrow," India Infoline Head of Research Amar Ambani said.
Metal stocks attracted strong buying and BSE Metal Index was the top performer among 13 sectoral indices. Sterlite rose 3.7 per cent, the most on Sensex, Tata Steel and Jindal Steel both 1.8 per cent and Hindalco 1.5 per cent.
Analysts said sector saw buying after Indian steel makers announced price cut of 2-3 per cent effective from November 1.
Major auto companies too were in demand, as most of the auto makers reported the highest ever monthly sales in October that was supported by the underlying momentum and a push from the ensuing festive season.
Tata Motors jumped 2.7 per cent, Hero Honda 0.7 per cent and M&M 0.32 per cent.
"This is seasonal trend and around this time of the year, manufacturers usually clear their channel inventories to meet the strong demand emanating from festivals such as Dushera, Id and Dhanteras," Elara Securities analyst Amol Bhutada said.
Financial stocks gained as investors took sigh of relief, after the Reserve Bank of India's statement that likelihood of further rate hike in immediate future is low. The central bank yesterday announced short-term lending and borrowing rates by 25 basis points.
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US Economy: Productivity Increases, Pushing Labor Costs Down
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US mid-term elections: Mixed bag for India
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Separatist leader Shabir Shah manhandled by BJYM activists
JAMMU: Kashmiri separatist leader Shabir Ahmad Shah was today manhandled by members of BJP's youth wing at a press conference here during which the activists also ransacked furniture after gatecrashing into the venue.
A group of 10-12 Bharatiya Janata Yuva Morcha (BJYM) members barged into the room, where the chairman of the Democratic Freedom Party, Shah, was holding a press conference after his release from jail yesterday. They ransacked the furniture and microphones and manhandled Shah, police said.
Two of the activists mandhandled Shah following which police rushed to the spot and arrested three BJYM activists, they said, adding that several others fled from the venue.
Shah, who termed the incident as unfortunate, continued with the press conference.
Activists were raising slogans against the separatists and asking them not to use the soil of Jammu for raising anti-national sentiments, according to police.
IGP Ashok Gupta said that the accused have been arrested and Shah was safe.
Shah was released from jail yesterday after spending nine months behind the bars.
US shouldn''t be protectionist, says BJP ahead of Obama visit
BJP today welcomed the visit of President Barack Obama to India but said being a major economy, the US should not play the role of a "protectionist". "BJP welcomes the visit of President Obama to India later this week.
US is the biggest economy in the world. But we hope that US does not play the role of a protectionist," BJP chief spokesperson Ravi Shankar Prasad told reporters here.
He said the party will come out with a detailed statement on Obama''s tour after he completes his visit. Party sources said Leader of the Opposition in the Lok Sabha Sushma Swaraj would firm up her "talking points" with Obama when the two meet after consulting Chairman of BJP''s Parliamentary Party L K Advani, Leader of the Opposition in the Rajya Sabha Arun Jaitley and party chief Nitin Gadkari in the coming days.
Swaraj is likely to raise the issue of outsourcing and terrorism emanating from Pakistan during her meeting with the US President. India today said it will not make any "hasty conclusions" on the outcome of discussions with Obama on "complex" issues of outsourcing, seat for India in UN Security Council and withdrawal of US ban on export of dual-use technology.
Seeking to downplay Obama''s remarks yesterday in which he did not hold out any assurances on these key concerns, Foreign Secretary Nirupama Rao said it would be wrong to prejudge the US leader''s discussions with the Indian leadership.India making 'serious strides' on business reform
India has made "great strides" in implementing pro-business reforms despite its relatively low ranking compared to BRIC country peers, one of the authors of the World Bank's annual "Doing Business" report said on Thursday.
India ranked at 134 in the list of 183 countries, just below Malawi and further down than Brazil (127th), Russia (123rd) and China (79th). Singapore topped the list and the United States came in at number five.
Political wrangles, bureaucratic and legal hassles and corruption have long been seen as slowing business growth in India, Asia's third largest economy, and deterring investment in sectors such as road building and power generation where project delays can stretch years.
But the World Bank said India ranked in the 40 most-improved economies to make changes for its entrepreneurs in the past five years, including in starting a business, filing tax returns and registering property, helped by the greater use of technology.
"We do see India is taking serious strides to make it easier for local entrepreneurs to do business," said Dahlia Khalifa of the International Finance Corporation (IFC), one of the authors of the report, by phone from Washington.
India's ranking should be seen in a wider context of improvements it has made in recent years and also in the context of what the report does not cover, such as macro-economic stability, Khalifa said.
While doing business remains easiest in advanced economies, the World Bank report showed that two-thirds of the reforms implemented over the past year were in developing countries.
"Reform is not something that happens overnight. Improving your business regulation requires a medium term view to see the impact," Khalifa told Reuters in reference to India.
Singapore has held the title as the world's easiest place to do business for the past five years, followed by Hong Kong, New Zealand, Britain, United States, Denmark and Canada.
Kazakhstan topped the list as having introduced the most number of reforms this year.
India may face heat on outsourcing; CTBT, climate on back burner
As President Barack Obama adapts to the popular revolt against his Democratic Party, two contentious themes in India-US relations — climate change and CTBT — are likely to move to the back burner. The picture on other issues of interest to India is likely to be a mixed one. There will be stronger protectionist sentiment in the new US Congress. The fires of economic nationalism might be directed mainly at China, but India will feel some of the heat on outsourcing. It should also brace for a tougher line against Iran in the US Congress.
The Republicans are likely to support, at least for the moment, a US military commitment to finish the job in Afghanistan. Congress is likely to take a closer look at the Pakistan army's support to the Taliban, and the links between Pakistan and the spread of domestic terrorism in the US.
Foreign policy was not a major issue in the mid-term elections. But the changed political composition of the Congress and the altered balance between Democrats and Republicans and between the President and Congress is certain to change the priorities and emphases in America's foreign policy over the next two years.
In his initial engagement with India last year, Obama had elevated climate change to the top of the bilateral agenda and mounted relentless pressure on the UPA government to redefine India's entrenched positions.
Yet, despite control of both Houses, Obama could not complete the legislation on energy and climate change. He faced a lot of resistance from the US energy industry and conservative groups that did not share his enthusiasm for mitigating climate change.
Representative John Boehner, an Ohio Republican who is likely to become the next speaker of the House, had vigorously resisted the climate change bill that Democrats had pushed through the House of Representatives.
Nuclear disarmament was another lofty theme for Obama and the liberal wing of the Democratic Party. His speech in Prague calling for the elimination of nuclear weapons won him the Nobel Peace Prize in 2009.
Obama was hoping the Senate would soon approve a nuclear arms reduction treaty he had concluded with Russia last April. The next step in his plan was to get the Senate to ratify the CTBT.
During the last two years, the international community has been appealing to India to join the CTBT. India ducked but promised to review its position after Washington and Beijing ratified the treaty.
The Democrats still have control of the Senate, but they need two-thirds majority to ratify any treaty. Republican distrust of arms control agreements means the Senate is unlikely to ratify the CTBT in the near future.
Indian Express
George W Bush admits to making errors in Iraq war: Book
Former US President George W Bush has admitted that he committed many errors involving the Iraq war and said he "felt like the captain of a sinking ship" towards the end of his presidency when dealing with recession, according to his new book.
In his book, 'Decision Points', to be released next week, Bush writes of the errors involving the Iraq campaign and the failure to find the weapons of mass destruction (WMD), despite a number of US intelligence reports pointing to their existence there.
He admits feeling a "sickening feeling" when he learned there were no mass destruction weapons in Iraq and said "cutting troop levels too quickly was the most important failure of execution in the war," according to excerpts from his book, released by 'The New York Times'.
The former President has also disclosed he considered replacing his Vice President Dick Cheney who offered to step down in 2003 so that he could pick someone else as his 2004 campaign running mate.
Bush considered the offer, writing that while Cheney "helped with important parts of our base, he had become a lightning rod for criticism from the media and the left". He said accepting the resignation offer would help "demonstrate that I was in charge", but he decided to stick with Cheney.
"He was seen as dark and heartless -- the Darth Vader of the administration," Bush was quoted as saying in his book.
He adds: "The more I thought about it, the more strongly I felt Dick should stay. I hadn't picked him to be a political asset; I had chosen him to help me do the job. That was exactly what he'd done. I asked Dick to stay..."
In his book, Bush has also disclosed that he "felt like the captain of a sinking ship" towards the end of his presidency, when dealing with the recession.
Indian Express
US President Barack Obama has said his four-nation Asia trip beginning with India later this week would concentrate on creation of job opportunities for his countrymen, who are frustrated on a high unemployment rate. "As I plan for my trip later this week to Asia, the whole focus is on how are we going to open up markets so that American businesses can prosper, and we can sell more goods and create more jobs here in the United States," Obama told a crowded press conference, a day after the his Democratic party lost majority in the US House of Representatives, while managed to retain a slender majority in the Senate.
Highly placed sources in Washington have revealed that United States President Barack Obama is likely to stop over for a few hours in Pakistan on his way to India.
While Obama had announced that he would be visiting Pakistan in 2011, sources said that the pressure on the President by Pakistan for a brief stop-over was very intense and possibilities of his stopping to have a meeting solely on anti-terrorism operations could not be ruled out.
This brief stop over termed as a "refueling halt" would follow a quick hop in Kabul enroute to Mumbai on November 5.
Sources however clarified that this plan would be subject to the security environment in both Pakistan and Afghanistan.
If American security agencies in Pakistan give a go ahead then the stop over which could even be a refueling halt, could be considered where President Obama would meet with President Zardari aboard Air Force One, the US Presidential Aircraft? It is unlikely that he will proceed to Islamabad which is just a 20 minute drive.
The Chaklala Airforce base where Air Force One might land is near the garrison town of Rawalpindi and is often dubbed the Andrews Air Force Base of Pakistan.
Various scenarios are being worked out and the possible stop over is being kept highly hush hush.
Pakistan Army Chief General Ashfaq Kiyani and intelligence chief General Shuja Pasha have been taken into confidence and President Zardari is on standby for a dash to the airport in the scenario that POTUS (president of the United States) might call on the front line ally.
Bagram Air force base, a militarized airport in Afghanistan in American control is being kept ready for a brief stop over too. If Air Force One lands here on November 5th President Karzai will meet President Obama at the airstrip which is just 27 miles from the capital, Kabul.
There were differing views in the White House ever since the India visit was planned. While one section believed that the India Pakistan hyphenation should continue as it gave Pakistan, a major US ally in the War on Terror, a fig leaf cover, the majority prevailing view was that it was time to delink US India relations from Pakistan.
The strategic community in the US is also largely of the opinion that India has moved beyond the restricting parameters of its South Asian neighbourhood, more comparable to its East Asian neighbours. Equating it with failed and failing nations like Pakistan and Afghanistan constricts the scope of American interaction with India.
It might be recalled that in 2000 President Bill Clinton had stopped for five hours in Pakistan on his way out from India using decoy aircraft to land there.
He addressed the people in Pakistan via PTV and had a very terse exchange with then President Pervez Musharraf. Then too, the brief Pakistan stopover had been kept under wraps till POTUS landed for security reasons much to the embarrassment of Pakistanis who had observed the American President's highly successful India leg of the tour.
Clearly such a stop over will not received very well in India. The optics cannot be missed that within a few hours of visiting Pakistan, the American president will check in into the same hotel in Mumbai where Pakistani trained terrorists killed 163 innocent persons including four Americans. By Smita Prakash
"And a whole bunch of corporate executives are going to be joining us so that I can help them open up those markets and allow them to sell their products," Obama said. Several top American CEOs would join Obama in India leg of his trip both in Mumbai and New Delhi.
In Mumbai, his first stop, Obama would address a meeting of top Indian and American business executives; besides having a separate meeting with American CEOs in India that time, including Indra Nooyi of Pepsico. He would also meet members of the Indo-US CEO Council.
According to some reports, his India trip could alone fetch orders worth USD 12 billion both military and civilian that could result in creating / saving as much as 50,000 to 60,000 jobs in the US. "Theres been a lot of strong interaction behind the scenes. But I think setting the right tone publicly is going to be important and could end up making a difference at the margins in terms of how businesses make investment decisions," Obama said in response to a question.
"I''ve got to take responsibility in terms of making sure that .
the most important thing we can do is to boost and encourage our business sector and make sure that theyre hiring.
And so we do have specific plans in terms of how we can structure that outreach," Obama said.
Spotlight : Obama's India sojourn
It's going to be an event like no other for two of the leading economies of the world. US President Barack Obama's India visit is set to witness a new direction in the trade, investment and employment opportunities for both the US and India Inc.US shouldn''t be protectionist, says BJP ahead of Obama visit
PTI - 07:44 PM
New Delhi, Nov 4 (PTI) BJP today welcomed the visit of President Barack Obama to India but said being a major economy, the US should not play the role of a "protectionist". More »
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http://in.news.yahoo.com/fc/obama-s-india-sojourn.html
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Midterm elections 2010: Angry voters have left America at a crossroads
Telegraph View: For the Democrats and for Barack Obama, the midterm elections were a crushing defeat.
By Telegraph View
Published: 8:43AM GMT 04 Nov 2010
20 Comments
President Barack Obama held a news conference yesterday Photo: Getty
The cliché that yesterday was a new morning in America will not quite do; a more serviceable one is that the world's greatest power stands at a crossroads. A Democratic president is confronted by a Republican-dominated Congress. Large swaths of the country changed allegiance: President Barack Obama's party lost not just the Senate seat that he vacated for the White House, but control of two states that have been Democratic since the 1870s.
For the ruling party, then, it was a crushing defeat. Yet it presents a challenge to both Republicans and Democrats. The president spoke yesterday of the need for patience and humility, qualities that even some of his supporters admit have occasionally been lacking in his administration. He also argued for bipartisanship. He did so, however, in a country that seems more polarised than at any time in its recent history. Republicans and Democrats must now choose either to try to achieve something for America between now and the presidential election in two years' time, or to fight each other to a standstill. The country's recovery, its international standing and influence, and the outcome of the 2012 election all rest on the strategy that each side adopts.
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John Boehner, the new Speaker of the House of Representatives, has already promised the members of the Tea Party that he will support their agenda for smaller government and fiscal responsibility. Public spending has not only been on the increase, but has shifted from local and state to federal level, accompanied by an increase in regulation and bureaucracy. This trend was not started by the present administration, but has become much worse since Mr Obama took office. Furthermore, there is – astonishingly – no convincing plan to rein in America's national debt, which now stands at about $14 trillion. For reasons of principle as well as pragmatism, Mr Obama should be prepared to co-operate with any sensible plan to stop his country living so far beyond its means. The Republicans, in return, should see that a scorched earth approach – towards the recent health care legislation, for example – would result in yet more acrimony and division. Mr Boehner should recall what happened in 1994, when the Republicans won both Houses of Congress, overplayed their hand in terms of obstructionism and hostility towards the president, and then chose a candidate, Bob Dole, whose personality and age allowed Bill Clinton to run rings around him.
For those of us in Britain, the main consideration after this blow to Mr Obama is what the outcome means for America's role in the world: will Washington turn inwards, as the president's time is absorbed by domestic politicking, or will he throw himself into foreign affairs to make up for his weakness at home? Yet the overriding issue for Americans – and the yardstick by which the candidates will be judged in 2012 – is the state of the economy. The present generation of Republicans will soon exhaust their credit if they cannot demonstrate to the electorate at all times that what they seek to do is in the urgent interests of American recovery. The choice of Republican candidate is self-evidently crucial. Mr Obama lacks Mr Clinton's political prowess, his judgment when it comes to choosing advisers, and his instinctive connection with the life and instincts of the American Everyman. If he can replicate his Democratic predecessor's successful stewardship of the economy, and bring about a return to jobs and growth, much will be forgiven. Yet he would find his path to
re-election smoothed by an opponent who could be painted as an extremist or as intellectually inadequate. If Sarah Palin is to seek the nomination, she would need to address both of these perceptions. Wednesday's results proved that America's voters are angry, and with good reason. Gridlock in Washington would only stoke that anger further.
http://www.telegraph.co.uk/news/worldnews/northamerica/usa/8109466/Midterm-elections-2010-Angry-voters-have-left-America-at-a-crossroads.html
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US bomber aircrafts to escort Obama's plane in Mumbai
Movement of aircraft will not be allowed at the Mumbai airport six minutes before and after the flight carrying US President Barack Obama lands.
"Normally during a VVIP visit, no flight movement is allowed three minutes prior to landing and three minutes post landing. But during Obama's visit, this period may be extended to six minutes before and six minutes after the aircraft lands," airport sources said.
They said that as per the plan so far, no clearances would be granted to any flight either to land or take-off during that period.
Even taxiing of aircraft will not be allowed till the US President's plane has been fully evacuated, they said.
Two US Airforce Jumbos and four helicopters, which have surveillance and bombing capabilities, have already landed at the Chhatrapati Shivaji International Airport ahead of the VVIP visit.
However, the sources said civil aviation authorities here were yet to receive a formal communication about the American President's flight schedule.
"So far we have not received any formal communication about Obama's flight schedule. We hope to receive it by tomorrow," the sources said.
In the case of such a high level visit, the air traffic control and other related agencies are informed of the flight schedule at least 24 to 48 hours in advance, they added.
Welcome Obama! India Inc is here to help
India's outsourcing companies, often blamed for stealing Main Street jobs, want Americans to know: We're hiring in the US
They along with President Barack Obama , who arrives in India's financial capital Mumbai on Saturday, are at pains to reassure the American public that India is here to help the US
On paper, the relationship looks great: Two big markets, two democracies, growing trade. In practice, there's a creeping sense that it may not live up to the hype. India, emboldened by its growing economic importance, is not playing by US rules. And the US, which has lashed out at India's key outsourcing industry even as it funnels billions to its ally in the war on terror _ India's archrival Pakistan _ looks like less of a friend than New Delhi might like.
Many believe business can lead bilateral ties. Obama, weakened by Republican gains in Congressional midterm elections, is bringing 250 US executives including GE chief Jeffrey Immelt and Honeywell's David Cote, which the US India Business Council says is the largest such delegation to ever accompany a president on a foreign visit. The presidents of six universities, including Georgetown and Duke, are also set to come.
Together, they are seeking more than $10 billion in deals. Bilateral trade, on track to hit $50 billion this fiscal year ending March, has more than doubled since 2004. Last fiscal year, India's $11 billion worth of investments in the US matched US investments in India for the first time ever, according to the US India Business Council.
But sentiment has frayed since the two countries signed a civil nuclear cooperation agreement in 2008. Then-President George W. Bush pushed through that deal, which allowed nuclear trade with India despite its weapons program and seemed to herald a new era of cross-continential commerce.
It hasn't been that simple. The job creating power of India's big, fast-growing market is hampered by its restrictions on foreign access to key sectors like retail, finance, education and insurance. Multinationals are wary of the shape-shifting rules that seem to govern things like taxes and environmental permits in India. And the large defense contracts that headline the wish list of deals for Obama's visit come burdened with offsets and foreign investment caps.
The Americans who accepted outsourcing of IT and back office functions in boom times as a way to free up capital for job creation at home seem less certain of the strategy's benefits during a bust.
With US unemployment at 9.6 percent, India's putative role as a driver of job insecurity has leaked into campaign rhetoric _ Barbara Boxer's attacks on Carly Fiorina for sending Hewlett-Packard jobs to India and China helped her win the California Senate race _ and popular culture alike. NBC's new sitcom, ``Outsourced,'' tells the story of a Kansas City company that sends most of its jobs to India.
Indian companies keep insisting, quietly, that they're not really the problem: If you don't like jobs getting sent overseas, better to direct your anger at major US corporations whose race for low cost competitiveness drives India's $50 billion software services sector.
``We strongly believe the global delivery model is beneficial to customers,'' said Infosys chief executive S. Gopalakrishnan. ``It increases their competitiveness. It reduces costs. It gives them access to a scalable high quality talent pool and to emerging markets. That's why it's growing.''
The US Congress seemed to disagree, hiking visa fees for Indian outsourcing companies by about $2000 per worker in August, provoking howls of discontent here.
``It's tens of millions of dollars,'' said Tata Consultancy Services chief executive N. Chandrasekaran.
The law pinches Indian outsourcers where it hurts, at the heart of the industry's hopes for future growth in its most important global market.
The companies have been trying to diversify into health care and government work and move up the delivery chain to higher value areas like consulting. All require workers, with visas or US passports, in the United States.
Many here fear the backlash will get worse by the 2012 elections, barring a turnaround in the US labor market.
Indian outsourcers _ and their clients in corporate America _ are happy to move jobs to the US as long as it doesn't disrupt their low-cost business model.
That translates into very few jobs. Lobby group Nasscom says India's software services exporters have created 35,000 high-paying US jobs in the last five years.
Industry leader Tata Consultancy Services is looking to hire 1,000 Americans this fiscal year. Less than one percent of its global work force are American, according to company data.
Infosys is also looking to hire 1,000 Americans. Its 1,600 permanent US employees _ not counting an additional 600 or so who work for two US subsidiaries _ make up 1.3 percent of the company's global work force.
``We can't replace all the people from here with people from the United States and have the same value proposition,'' said Chandrasekaran.
From the US side, perhaps most disillusioning is a law passed by India's parliament that extends liability to the suppliers of nuclear plants, making it difficult for private companies to compete against their state owned French and Russian peers in India's multibillion dollar nuclear reactor build-out.
``There has been a reality check,'' said Stephen Cohen, a South Asia security expert at the Brookings Institution.
Backers of the civil nuclear deal in Washington, he said, ``made believe India was a true ally and would never let us down.''
US India Business Council president Ron Somers said India's signing last week of an International Atomic Energy Agency convention on liability is a step forward and will require Indian laws to conform to international norms, which do not make private companies liable unless there is malfeasance.
Even India's purchase of 10 Boeing C-17 transport aircraft, expected to be finalized during Obama's visit, will probably be worth less than the anticipated $5.8 billion because of fewer add-ons, said Guy Anderson, lead analyst at Jane's Defence Industry.
India is second only to China in ramping up military procurement, making it an attractive market for US defense companies. But the bureaucracy is so inefficient the government doesn't manage to spend the money earmarked for military procurement each year, and Russia still dominates sales in a country where some, especially in the older generation, continue to regard US intentions with skepticism.
Somers says naysayers are too impatient and points out that from 2007 to 2009, the US sold India $4.3 billion worth of defense equipment _ a huge jump from the $342 million sold from 2001 to 2006.
``We've come a long way,'' he said.
India-US to build strong, strategic defence ties: Report
As US President Barack Obama prepares to visit India, a prominent think tank has said that the two countries would build their strong bilateral defence ties based on the new strategic realities of Asia.
The defence relationship is one of the many bright spots in the overall bilateral relationship, said the National Bureau of Asian Research(NBR), a Washington-based think tank.
"It is expected that the United States and India will continue to develop a strong bilateral defense relationship, albeit one that looks less like an alliance than a partnership based on shared goals.
US and Indian armed forces will operate together more frequently, and US equipment will be purchased in larger quantities by India, in part reflecting the new strategic realities of Asia and a strengthened US-Indian relationship," NBR said in its report on India.
As the United States and India continue to build their newly strengthened relationship, both partners face challenges in the process, it said adding that in the realm of operational cooperation, greater steps toward embracing integration that would help check maritime adventurism by any other power inevitably will breed concerns about whether Indian foreign policy remains independent.
"Similarly, agreements to provide advanced US military equipment also require agreement to US rules and practices on the use of such equipment that test Indian proprieties and will complicate India's ties with other suppliers of military equipment, including Russian and European companies," the NBR said.
Looming over these bilateral security issues are the differentiated security challenges each country faces in managing complex security relationships with Pakistan and China, it noted.
"Certainly, however, bilateral cooperation on the internal challenges the Indian Armed Forces face--structural reform, domestic counterinsurgency, personnel acquisition and management reform, among others--provides opportunities that might mitigate some of the other challenges as well as help to build longer-term collaborations that will be in both countries' interests," it said.'Obama may make a big impact or disappoint Indians on UNSC'
WASHINGTON: Given the sensitivity of Indians on UN Security Council aspirations, US President Barack Obama during his forthcoming visit to India will either make a big positive impact or disappoint it, a former top American diplomat to New Delhi has said.
"Will the President, while he is in India and probably while he is speaking to the Parliament, utter the words, 'The United States supports India's permanent membership in a reformed UN Security Council' or not?
"If he does, it'll have a very, very positive effect on both the people of India, and on the national security elite of India. If he does not, they'll be disappointed," Robert Blackwill, former US Ambassador to India, told reporters in a briefing on Obama's India visit.
"I'm not now going to do the merits of the case on that, but he'll either make a big positive impact or disappoint them," Blackwill said, who currently is Henry Kissinger Senior Fellow for US Foreign Policy at the Council on Foreign Relations - a prestigious US-based think tank.
As Obama arrives in Mumbai later this week on a three-day India visit - his longest overseas trip as the US President - Blackwill said Indians will be watching most carefully for the president's position on the Security Council and on the entities list.
"I think that my prescription would be that he say to the Indian Parliament, which would get them on their feet with rapturous applause, that the US supports India's permanent membership in the Security Council in the context of a reformed Security Council.
"That's a very direct way of saying it. And if he uses more equivocal language, of course, the Indian scribes will take the more equivocal language apart a sentence and a -- or, sorry, a phrase and a word at a time," he said.
"Just to put one more fact forward: Now the US and China are the only two countries that are permanent members of the Security Council that have not endorsed India's membership -- permanent membership in the Security Council.
So, I don't think that's very good company for the US to be keeping on this issue. So I very much hope he'll say that to the Parliament," Blackwill said.India behind Pakistan on human development indices: UN report
India lags behind its neighbours, Pakistan and Bangladesh, on human development indices like life expectancy at birth and mean or average years of schooling, a United Nations Development Programme (UNDP) report released Thursday said.
Titled "Real Wealth of Nations: Pathways to Human Development", the report had a global launch and was released at the UN in New York by UN secretary general Ban Ki-moon.
While India is ranked 119 on the Human Development Index (HDI) among 169 countries -- above Pakistan and Bangladesh which are ranked 125 and 129, respectively -- it lags behind the two on certain development indices.
According to the report, life expectancy at birth in India is 64.4 years, while in Pakistan it is 67.2 years. In Bangladesh, life expectancy is 66.9 years.
Similarly, mean years of schooling in India is 4.4 years while in Pakistan and Bangladesh it is 4.9 and 4.8 years respectively.
Sri Lanka, which is ranked above India on HDI at 91, also fares better than India on the two indices. Its life expectancy at birth is 74.4 years and mean years of schooling is 8.2 years.
On some positive note, in terms of growth of income, India is considered one of the top 10 countries. China is on the top position in this index.
Finance Ministry's chief economic advisor Kaushik Basu, who was present at the India launch of the report, said: "India has a lot of catching up to do. There is scope to do so much better."Food inflation at 12.85 pc y/y as at Oct 23: Govt
Food inflation rose 12.85 percent, while the fuel price index climbed 10.67 percent in the year to Oct. 23, government data showed on Thursday.
In the prior week, annual food and fuel inflation stood at 13.75 percent and 11.25 percent respectively.
The primary articles index was up 15.43 percent in the latest week compared with an annual rise of 16.62 percent a week earlier.
The wholesale price index , the most widely-used gauge of prices in India , rose 8.62 percent in September compared with an annual rise of 8.5 percent in August.Demand side pressures have moderated - RBI
Demand side pressures in India have moderated due to the monetary actions that have been taken so far, the Reserve Bank of India (RBI) Governor Duvvuri Subbarao told analysts in a conference call on Wednesday.
On Tuesday, the Reserve Bank of India (RBI) raised its key policy rates for the sixth time since March and said it was unlikely to adjust rates again in the near future but would remain vigilant about inflation that remains above its comfort level.
The RBI is seen raising rates once more this fiscal year ending in March, according to economists poll.
Nov, 2010, 12.28PM IST,REUTERS
All options open to control capital inflows: Adviser
All options are on the table to control capital flows but India right now is not in favour of direct controls, the Finance Ministry's chief economic adviser said on Thursday.
Kaushik Basu also said that India will be able to absorb the present level of inflows.
The Federal Reserve launched a new effort to support a struggling US economy on Wednesday, committing to buy $600 billion in government bonds despite concerns the program could flood emerging economies with the capital.
Little expectations from Obama''s visit: India Inc
India Inc today said it is not expecting much from US President Barack Obama''s India visit, as he is struggling to deal with economic issues back home. "Economic situation is not very well (in the US) and jobs are still not being created.
Now, it is a serious challenge for any head of the nation and therefore he will be guarded and cautious in strengthening his own domestic industry, especially R & D ," Assocham Secretary General D S Rawat said. He said the Americans are complaining that "if we continue to do outsourcing as a nation, than the companies or the nations where its is being outsourced will be more innovative and we as Americans will be more complacent".
Noted industrialist Rahul Bajaj too said that Indian businessmen should not expect much from Obama''s visit. "His (Obama''s) visit to India is good but we are not expecting much from him, because of the economic problems there," Bajaj said.
Bajaj said unemployment is high in the US and the economic growth is stagnant. Unemployment in the US continues to hover around 10 per cent, while in the September quarter, the country''s economy grew just two per cent.
"He wants us to buy defence equipment from them so that it can generate jobs there, he wants us to open our markets, so that they can sell their products here but what are we getting in return?" Bajaj asked. Bajaj, a Rajya Sabha member, also said US needed to show concrete support to India on issues like countering cross-border terrorism from Pakistan and on-border dispute with China.
The Confederation of Indian Industry said they want a commitment from the US President that American market would remain open for Indian exports and protectionist tendencies would be curbed. Indian priorities with the US also includes "ensuring removal of barriers to trade in dual-use technologies", it said.
U.S. jobless claims rise 20,000 last week
Reuter reports,New U.S. claims for unemployment benefits rose more than expected last week, government data showed on Thursday, underlining the persistent weakness in the labour market.
Initial claims for state unemployment benefits increased 20,000 to a seasonally adjusted 457,000, the Labor Department said, reversing the prior week's decline.
Analysts polled by Reuters had forecast claims rising to 443,000 from the previously reported 434,000. The government revised the prior week's figure up to 437,000.
The report came a day after the Federal Reserve announced it would buy an additional $600 billion worth government bonds by the middle of next year to spur the lacklustre economic recovery and boost employment.
The second round of asset purchases is intended to push interest rates further down, thereby stimulating domestic demand and prevent the current low inflation environment from spiralling into a damaging bout of deflation.
The claims data has little influence on October's employment report due on Friday as it falls outside the survey period. The government is expected to report that nonfarm payrolls increased 60,000 last month, likely the first expansion since May, after dropping 95,000 in September, according to a Reuters survey.
A Labor Department official said there was nothing unusual in the claims data and described the report as fairly clean.
Last week, the four-week average of new jobless claims, considered a better measure of underlying labour market trends, rose 2,000 to 456,000.
The number of people still receiving benefits after an initial week of aid fell 42,000 to 4.34 million in the week ended Oct. 23, the lowest level since the week ending Nov. 22, 2008. The prior week's figure was revised up to 4.38 million.
Analysts polled by Reuters had forecast so-called continuing claims rising to 4.38 million from a previously reported 4.36 million.
The number of people on emergency benefits increased 198,579 to 3.98 million in the week ended Oct. 16.
CIL investors gain Rs 6,489 cr on back of big-bang debut
Investors in Coal India''s mega- public issue grew richer by a whopping Rs 61,489 crore today after the coal major made a big-bang debut on the bourses and closed at a premium of about 40 per cent over the IPO issue price of Rs 245 per share. At the end of the first day, total market capitalisation of the coal behemoth stood at Rs 2,16,240.73 crore.
This was Rs 61,489 crore higher than its valuation of Rs 1,54,750.92 crore on the basis of the IPO issue price. As a result, CIL is now the fourth most valued Indian firm, behind only Reliance Industries, ONGC and SBI. Coal India raised Rs 15,200 crore through its maiden initial public offer, the biggest issue in the history of the Indian capital market, which was over-subscribed 15.3 times.
The issue price of the IPO was fixed at Rs 245 a share -- the higher end of the IPO price band of Rs 225-245. Coal India today listed with a gain of 17 per cent on the Bombay Stock Exchange and settled the day at Rs 342.35, up by 39.73 per cent.
At one point of time, it was trading at Rs 344 a share. "This is one of the biggest success stories in listing of shares on stock exchange," Coal Minister Sriprakash Jaiswal said.
"The response from investors is on expected lines. Such a response is due to a combination of factors.
The company''s fundamentals are very strong and it has a great future ahead," he added. The whole Coal India IPO was a fairy tale, given the quality of the company, pricing of the issue, wide subscription from all kind of investors and a super impressive listing, SMC Globals Head of Research Jagannadham Thunuguntla said.
"All has fallen perfectly in place," he added Boosted by the firm listing of CIL and positive overseas sentiment, the BSE benchmark Sensex today surged by 428 points to an all-time high of 20,893.57 points. The investors, who grew richer by Rs 2 lakh crore today, have all the more reason to offer prayers to the Indian goddess of wealth, Lakshmi, who is worshipped on the occasion of Diwali.
"It was a historic day not only for Coal India, but for the whole Indian capital market. We are happy with the listing and expect the stock to outperform," CIL Chairman P S Bhattacharyya told reporters after the listing ceremony at the BSE. Equity analysts believe that in the coming days, the stock is likely to see good participation.
Dawood, Osama on Forbes' most powerful list
Underworld don Dawood Ibrahim and Al Qaeda leader Osama bin Laden are among the most powerful people in the world, according to Forbes magazine.
Putting Ibrahim on 63rd place, Forbes said 'Ibrahim, a prime suspect in 1993 Mumbai blasts, is now India's most wanted man and is the boss of Mumbai-based 5,000-member organised crime syndicate D-Company'.
'The US declares him a global terrorist. US government says he shares smuggling routes with Al Qaeda and has collaborated with both Al Qaeda and its South Asian affiliate, Lashkar-e-Taiba, which carried out November 2008 Mumbai attacks, possibly with Ibrahim's help,' the magazine said on its website.
About bin Laden, who is ranked 57th, Forbes said: 'Despite infrequent communications, persistent rumours of his death, symbolic power undiminished: Impressionable youths continue to self-detonate in his name.'
According to the magazine, the list comprises 'the 68 who matter' of the 6.8 billion people on the planet.
Cabinet approves bill against sexual harassment at workplace
The union cabinet Thursday approved a bill to prevent sexual harassment at the workplace.
The Protection of Women against Sexual Harassment at Workplace Bill, 2010 which was formulated after extensive consultations between the ministries of women and child development and law along with several other stakeholders, defines sexual harassment and provides for an effective complaint and redressal mechanism.
'The bill will ensure a safe environment for women at the workplace, both in the public and private sectors whether organised or unorganised. The measure will help in achieving gender empowerment and equality,' an official statement said.Ban on RSS unlikely to work as it has many sister outfits:Cong
Against the backdrop of Rahul Gandhi equating the RSS with Students Islamic Movement of India, Congress today said a ban on the saffron outfit like the one on SIMI was unlikely to work as the Sangh has many sister organisations. Party General Secretary Digvijay Singh told reporters that there could not be any comparison between RSS and SIMI as RSS has many sister organisations and suggested that therefore a ban will be of no use.
He wanted the RSS to rethink about its approach. His comments came after Congress went full blast in attacking the RSS and its sister organisations during a day-long session of the AICC on Tuesday.
The AICC had accused the RSS of being involved in terrorism and held that the Allahabad High Court verdict on Ayodhya title suit does not condone the demolition of Babri Masjid.
4 Nov, 2010, 05.30PM IST,REUTERS
Obama's India visit may be more style than substance
NEW DELHI: A weakened US President Barack Obama visits India this week to counter perceptions he has relegated the Asian power behind rivals China and Pakistan, but he may struggle to seal deals to help usher in billions of dollars of business.
Economic ties are booming but Obama's visit from Saturday to Monday may fail to live up to President Bill Clinton's 2000 trip that helped break the diplomatic ice, or President George W. Bush's visit in 2006 when a civil nuclear deal was hailed as a landmark in ties.
Obama's drubbing in the mid-term elections may also tie his political hands when it comes to bold policy moves on India as growing worries emerge that outsourcing in cities such as IT hub Bangalore is worsening mass unemployment in the United States.
It was a sign of the times that Obama told the Press Trust of India that India should open up its markets to U.S. companies, a stance that may dominate a 10-day trip of Asia aimed at boosting U.S. exports and jobs, crucial for his presidency's fate.
"Obama is going to be too preoccupied domestically, and you won't see a more aggressive foreign policy going forward," said Amitabh Mattoo, professor of international politics at Jawaharlal Nehru University.
"On his upcoming trip, I think that the best India can hope for is a consolidation of the relationship established under President Bush."
An increasingly confident India wants recognition of its global weight. It wants a permanent seat on the U.N. Security Council and for the United States to allow exports of dual-use technology, banned after India's nuclear tests in 1998.
India's booming trillion-dollar economy is one of the few a stars in a struggling world economy, offering U.S. investors massive opportunities. There are reportedly more than 200 executives accompanying Obama on his visit to Mumbai and Delhi.
On the agenda will be lucrative defence ties. The United States has held more military exercises with India in the past year than any other country, and U.S. firms Boeing and Lockheed Martin Corp are bidding for a $11 billion deal for 126 fighter jets.
NO BIG BREAKTHROUGHS
A bilateral trade boom has seen total flows treble to $36.5 billion in goods in the decade to 2009-10, but the United States slipped from number one to three in India's trade partners. India lags China, the United States' third-biggest trading partner.
Washington faces a host of hurdles, including Indian worries that signing defence pacts -- which are necessary for the U.S. arms sales to go through -- may land New Delhi in a wider entanglement with the U.S. military.
The civil nuclear deal with the United States was signed to great fanfare, but it struggled through parliament and now the accord has sparked criticism that U.S. companies in the sector will be discouraged to invest due to high liabilities.
US Republican slams "over-the-top" spending for Obama's India trip
WASHINGTON: The costs of US President Barack Obama's upcoming trip to India has been criticised by a Republican leader as "over-the-top" spending but the White House said the figures cited by the lawmaker have "no basis" in reality."
When asked whether she would support cuts to Social Security and Medicare, Representative Michele Bachmann , a Republican from Minnesota fresh off a victory in her closely watched re-election bid, slammed the White House for the "massive overspending" for Obama's maiden visit to India.
She however refused to identify specific cuts to the federal budget when asked by CNN. Obama's three-day trip starts from Mumbai where he will arrive on Saturday before proceeding to New Delhi the next day.
A top official of the Maharashtra Government privy to the arrangements for the high-profile visit has reckoned that a whopping $200 million (Rs 900 crore approx) per day would be spent by various teams coming from the US in connection with Obama's two-day stay in the city.
"A huge amount of around USD 200 million would be spent on security, stay and other aspects of the Presidential visit," the official said in Mumbai.
About 3,000 people including Secret Service agents, US government officials and journalists would accompany the President. Several officials from the White House and US security agencies are already in Mumbai for the past one week with helicopters, a ship and high-end security instruments.
Unprecedented security has been put in place both in Mumbai and New delhi.
"We have never seen this sort of an entourage going with the president before. And I think this is an example the massive overspending that we've seen--not only just in the last 2 years, really in the last four," Bachmann said.
Asked for comment about Bachmann's criticism of the trip, the White House said in a written statement that the figures cited by the Republican lawmaker "have no basis in reality."
"Due to security concerns, we are unable to outline details associated with security procedures and costs, but it's safe to say these numbers are wildly inflated," White House spokesperson Amy Brundage said.
Bachmann's comments come on the same day she formally announced her bid to join the House Republican leadership and become the chair of the House Republican Conference in the next Congress. She already has at least one rival for job.
Rep. Jeb Hensarling, R-Texas, is also seeking the number four spot in the GOP's House leadership. Hensarling has already been endorsed by two powerful House Republican leaders.
4 Nov, 2010, 06.45AM IST,ET Bureau
Obama likely to soften anti-offshoring rhetoric
MUMBAI: FOR India's $50-billion outsourcing industry preparing to host president Barack Obama later this week, the big Republican win in the US means a toning down of an anti-offshoring rhetoric that became increasingly strident after the Democrats came to power.
"If the Wall Street cheers are any indication, it looks like economic sense will prevail in policy decisions, and that's good news for outsourcing ," said the CEO of one of the top Indian tech firms.
"For all of us, a vibrant, growing and strong America is good. We hope both the Democrats and Republicans bring jobs and the economy back on track," said Som Mittal , president of Nasscom, the country's apex software and BPO industry association . The win would mean more checks and balances, he said.
Since the recession began in December 2007, the US economy has shed 8.4 million jobs, and according to a research note put out by the Federal Reserve Bank of San Francisco , up to 2,94,000 new jobs will need to be added every month to bring the unemployment rate below 8%. Both the Democrat party and the president have responded by taking a populist approach to certain issues, especially unemployment. Chuck Schumer , the senator from New York, lashed out at Infosys a few months ago, calling it a chop shop, a derogatory term which refers to stolen auto shops where parts are dismantled to be resold later.
The governor of Ohio, Ted Strickland , last week announced that his state will ban outsourcing of work to overseas destinations by government departments. President Obama , who was voted to power in 2008 on the back of strong trade union support, also announced last month that the government will end tax breaks for firms that send jobs overseas . "It's true that Republicans are seen as more favourable to India but I don't see their win as having a specific positive or negative impact for India.
Broadly, Republicans believe in a market economy and open trade — these are also some of things India is asking for. To that extent, yes, it is positive," said the chairman of a software services firm. Analysts also felt the poll results were largely neutral for the Indian outsourcing industry. "I don't see much of an impact one way or the other. At the end of the day, it is about jobs and the unemployment rate in the US," said Praveen Bhadada, manager-consulting , Zinnov Management Consulting .
India's outsourcing industry has been on the defensive after the US passed a controversial decision to increase visa fees for funding a Mexico Border Security plan last month.
4 Nov, 2010, 12.34AM IST,ET Bureau
India waits for Obama's vision on the economy
Electoral drubbing back home may have drowned his spirits, but once in India, Barack Obama can't ignore the rising spirit of India Inc. That's why the 49-year-old US president's interaction with 500-odd businessmen at Mumbai's Trident Hotel on Saturday will focus on themes that lie at the core of India's intrinsic business capabilities.
The day-long meeting organised by the US India Business Council (USIBC) will have sessions on health, education, environmental issues, technology and drug discovery.
"There will be discussions on subjects such as how to increase efficiency in education," said Deepak Parekh, chairman of HDFC , and one of the invitees.
India Inc is not only looking forward to use the platform to mend its relationship with the US that was jolted due to Obama's unfavourable outsourcing policies, but it is also keen on knowing America's vision for India.
"We want to hear President Obama's vision on the Indian economy . We want to know what vision the US has for India at the global stage. How do they want to engage with us," says Rajan Bharti Mittal, vice-chairman and managing director of Bharti Enterprises, and president of the FICCI.
The who's who of India Inc will land up at Trident to listen to the world's most powerful man. The list of invitees include Mukesh Ambani, Ratan Tata, Anil Ambani, Adi Godrej, Shashi Ruia, S P Hinduja, Kumar Mangalam Birla, Anand Mahindra, Venu Gopal Dhoot and Ajay Piramal. "I am certainly attending the function," said Adi Godrej, group chairman of Godrej.
The list also includes an exhaustive list of women CEOs such as Swati Piramal and Chandra Kochar. "The US leads in innovation and economic capital and the view of the leader is significant. I expect him to pave the way for significant, growth-oriented, proactive economic development and partnership between the two countries," said Sangita Reddy, executive director -operations, Apollo Hospitals.
Small businessmen, who represent India's growing spirit of entrepreneurship, are also being invited. "India being one of the fastest growing economies in the world, we would also like to know American president's view on future prospects for expansion of trade and commerce between the two countries," said Ajay S Mittal, chairman & managing director of Mumbai-based logistics company Arshiya International .
Shantanu Prakash, managing director and CEO of Educomp Solutions , said: "Several US universities are willing to take the first step towards setting up campuses in the country. This meeting will be equally important for them."
CEOs expect interaction with American delegation to result in a favourable policy on outsourcing and identify areas of cooperation. "There are some important areas such as manufacturing, education and innovation where both the countries can work together, said Harshpati Singhania, managing director of JK Paper.
Venugopal Dhoot, chairman of Videocon Industries , said: "We wish for a more favourable policy on outsourcing. We also expect the US to help in terms of nuclear policy and set up nuclear power plants in the country. Large investments by US companies should be encouraged too."
And not to be left behind are India's best legal minds, who are expected to turn up in big numbers. The invitee list include AZB & Partners, Amarchand Mangaldas & Shroff & Company, Majmudar & Co., Fox Mandal & Little, J Sagar & Associates, Nishith Desai Associates and Trilegal. "After the visit, the US president should support India in its fight against terrorism," said Zia Mody, managing partner, AZB & Partners..
4 Nov, 2010, 10.30AM IST,REUTERS
Coal India plans $1 bn capex for next fiscal: Chairman
MUMBAI: Coal India has earmarked 46 billion rupees ($1 billion) as capital expenditure for the next fiscal year beginning in April 2011, its chairman said on Thursday.
The company will use its cash reserves for overseas acquisitions , Partha Bhattacharyya told reporters.
Earlier in the day, shares in the world's largest coal miner rose 30 percent on their trading debut, after the Indian government raised $3.43 billion in the country's largest ever initial public offering.Obama Press Conference and Speech on Post US Midterm Elections 2010
Headlines, Politics | Ryan Zenti | November 4, 2010 8:39 am
Obama Press Conference Today: The Obama Speech on Post Elections – The war for the midterm elections is over and the map of the United States turned red as Democrats are one by one ousted from their position. Votes of discontent and anti-administration sentiments were registered in the ballot. When the dusk settled the Republicans took over control of the House and nearly took over the Senate as well.
The new House composition might include 192 Democrats and 243 Republicans. Democrats lost a total of 64 seats, one of the worst Democrat losses in history. The new Senate composition will now be composed of 52 Democrats and 47 Republicans, that is 7 Democrats losing seats in the Senate.
Six out of 17 Democratic candidates for Governor also lost their election bid. Democrats that won for Governor includes Jerry Brown, California; John Hickenlooper, Colorado; Pat Quinn, Illinois; Martin O'Malley, Maryland; Deval Patrick, Massachusetts; and Mark Dayton, Minnesota.
Seeing this situation President Barack Obama held a Conference today and Obama delivered a speech in order to ensure that the government is still on track. "The results of the election underscores for me that I've got to do a better job, just like everyone else in Washington," said Obama.
When asked about who should be blamed for the Democrat's loss, Obama exclaimed, "As president, I take responsibility for that." Obama particularly sited the blame on tough decisions like the stimulus package, the bank bailouts, and auto bailouts. He said that these might be unpopular but he said that he had to do that in order to help the American people.
Here is the full Obama Press Conference Today: The Obama Speech on Post Elections video.
http://www.dotsperiod.com/4359/obama-press-conference-and-speech-on-post-us-midterm-elections-2010/
US midterm elections: the verdict
A roundup of comment on the elections that saw Republicans gain control of the House of Representatives
- Sidney Blumenthal, Grover Norquist, Katha Pollitt, Bernie Sanders, Bethany McLean, Amanda Marcotte and Joe Lockhart
- guardian.co.uk, Wednesday 3 November 2010 20.02 GMT
- Article history
Sidney Blumenthal: 'Republicans still carry the scars of 1994'
Despite the superficial similarities, the Republican party after its midterm election victories is not in the same position of prestige and strength it was after those of 1994. Then it was held in favour by 67% of the voters, according to the Pew poll, while the CNN exit poll conducted on election day 2010 found its favourability rating at 41%, below that of the Democratic party at 43%.
The voters now have made a judgment on the economic state of the nation. Another poll showed that 55% did not believe that if elected the Republicans would enact Republican policies. Though the electorate also did not embrace the Tea Party and its candidates – a majority of those affiliated lost for the House of Representatives and nearly all those running for the Senate were defeated – this movement lent the Grand Old Party the patina of something new and different. Yet the voters were not embracing Tea Party nostrums, such as privatising social security and abolishing Medicare. They were simply voting for change in their economic conditions.
This Republican party still carries the scars and burdens of the failed Republican "revolution" of 1994. At the beginning of his squandered career, at the moment of his early triumph, Newt Gingrich was youthful, brash, filled with ideas, and presenting himself as a generational peer and contrast to President Bill Clinton. But the soon to be anointed Speaker of the house, John Boehner, is the antithesis of that Gingrich incarnation – banal, worn, intellectually hollow, and a transparent tool of congeries of special interests. (He once handed out cheques from tobacco companies on the floor of the house to Republican members.) The House Republican Conference has little affection for him and rightwing members don't trust him.
Within hours of the Republican victory its leaders declared they would replay the politics of post-1994, which ended in their discrediting after two federal government shutdowns – "a second chance", Boehner called it. Senate Republican Leader Mitch McConnell has already announced, "The single most important thing we want to achieve is for President Obama to be a one-term president." They want to repeal Obama's healthcare reform, trash environmental regulations, and slash other programmes. The stage is being set for a great collision with a Democratic president, who, as President Clinton demonstrated, still possesses the powers of the executive.
In 1994, the Republicans called themselves "revolutionaries". Now they seem poised to prove Talleyrand's comment on the Bourbons: "They have learned nothing and forgotten nothing."
• Sidney Blumenthal is a former aide to President Clinton and the author of How Bush Rules: Chronicles of a Radical Regime
Grover Norquist: 'The Republican party now owns Congress'
The tectonic plates have shifted quite a bit. The bad news for the Democrats is that this is just the beginning of the bad news. The Republicans have not just won the House of Representatives; they have won it for a decade. And the news from the Senate is not better for the Democrats. Two years from now, in 2012, there will be 33 senators up for re-election. Twenty-three will be Democrats and only 10 will be Republicans. So, Republicans will win a majority in the Senate in 2012, and hope to have fully 60 seats – enough to overcome any filibuster after the 2014 election.
The Tea Party has altered the field for 2012 in several ways. All House and Senate Republicans know they can be challenged by a Tea Party insurgent if they are insufficiently vigorous in opposing President Obama and government spending. Senate Republicans watched many of their friends fall to friendly fire from the right. They are already moving to starboard and this will make Obama's life more difficult, as he looks for Republicans to work with.
Anything Obama planned to do in the last two years of his first term that required congressional approval is now dead. His victories – enacting government run healthcare, banking reform and his higher levels of discretionary spending – are all subject to legislative sniping and repeated attempts to prune them back.
And Obama's Democratic allies in the house and Senate are increasingly a leftwing remnant, the casualties of Tuesday being largely those Democrats who fancied themselves as moderates or even conservatives.
Obama is now leaving for Asia for more than a week. This is understandable.
• Grover Norquist is president of Americans for Tax Reform. Read a full-length version of this article here
Katha Pollitt: 'Voters have shot themselves in the foot'
Americans angry that the Obama administration bailed out Wall Street have voted for Republicans who will privilege high finance and big business even more. Americans outraged that the Democrats did not cure double-digit unemployment flocked to politicians who think the unemployed don't want to work. Young people, who won expanded access to higher education and healthcare under the Obama administration, stayed home. I know it marks me as an elitist to suggest that American voters are less than wise or well-informed, but yesterday's results really do seem to me like a textbook case of shooting oneself in the foot. If they really think the Republicans will help them they are in for a big surprise. On the other hand, if they voted Republican out of ideology then they will get exactly what they paid for: a crueller, more selfish, and more unfair America in which they themselves will be poorer, sicker and more alone – except possibly in their heads.
• Katha Pollitt is a columnist for the Nation
Bernie Sanders: 'Making the richest people in this country richer'
The Republicans won big on Tuesday after many of them campaigned on extreme right positions. We will have to fight very hard in Washington and at the grassroots level against this growing rightwing extremism.
For all their rhetoric, the Republican agenda will be designed to make the richest people in this country richer. It will protect the interests of private insurance companies, oil companies, coal companies, drug companies and other multinational corporate entities. They will undermine President Obama's pledge to begin reducing our troops in Afghanistan next summer. While military spending will be spared, education and healthcare will be targeted for cuts. Republicans will block every effort to address global warming. Many will seek to demonise immigrants, gay people and minorities. And on and on it will go.
So, where do we go from here? At a time when this country has the most unequal distribution of wealth and income of any major country, I will support tax policies which benefit the struggling middle class, not the very rich. Instead of tax breaks for millionaires, we should invest in our crumbling infrastructure, transform our energy system, and, in the process, create millions of new jobs. We must reform our trade policy so that we move towards fair trade, not unfettered free trade. And I will fight for stronger regulation of Wall Street, while strengthening support for the small businesses that create jobs in America.
These are tough times for our country. Reintroducing the failed Bush policies of the past will be a disaster for the American middle class. We need ideas and legislation that benefit all Americans, not just those with wealth, power and political influence.
• Bernie Sanders is the independent socialist senator for Vermont
Bethany McLean: 'Out-there ideas now moderate'
The new US senator from Kentucky, the Tea Party candidate Rand Paul, has a background in what sound like some pretty out-there ideas. Paul's father, Ron Paul, has long been a staunch, and lonely, advocate of stricter controls on the Federal Reserve; he argues for a regular audit. As for Rand Paul, his website says that he "would make sure that all Americans understand the dangers of unsound monetary policy and shed light on this secretive organisation". Oh, those crazy Tea Party folks.
Actually, what's remarkable is that Paul's stance isn't that remarkable. There are plenty of mainstream economists and market analysts who are questioning the once unquestionable Fed. Among the hedge fund crowd, there are those who go even further, arguing that the entire institution of the Fed should be abolished. In other words, at least on certain topics, both Ron and Rand could sound like moderates!
• Bethany McLean is a Vanity Fair contributing editor and co-author of The Smartest Guys in the Room, on the Enron scandal
Amanda Marcotte: 'Republicans tried hard to win women – to little effect'
Before election day, you'd be forgiven for thinking that the Republican party was making all the running for women voters with Sarah Palin's pitch of "conservative feminism" and a series of high-profile women candidates in key senatorial races – Christine O'Donnell, Sharron Angle, Carly Fiorina. But none of these contenders has come through, so what does that tell us about the actual electoral preferences of real women?
Women are increasingly in the spotlight in electoral politics – perceived as a vital "demographic". Women outnumber men, and they have turned out to vote in greater numbers than men in every election since 1980. Women determine elections more than men – a reality that haunts the Republicans, since women tend to lean left and shun third-party candidates.
But the problem with all this talk about women and how they vote is that it obscures the larger reality that women aren't a unitary population. When you're talking about married women or white women or "red state" women, it's wrong to say that "women" as a collective category vote for Democrats. While female voters didn't vote majority Republican, as had been predicted, neither did they vote majority Democrat. Instead, women split their vote 48/49 between the parties. Considering that the Democrats had a worse-than-predicted showing in many states, this result probably does no more than indicate lower voter turnout among groups of women that lean left.
We can expect the cable news punditry to go out of its way to paint the Republicans' minor gain in female votes as some major shift in the psychology of American women. But there's no solid evidence that American women have grown more conservative. Women are a diverse group, and which women show up to vote in any given election can dramatically change what the female vote looks like at exit polls.
We can expect also that there will be no cable news analysis of why men vote the way they do – even though that is the far more interesting question, in many ways.
• Amanda Marcotte blogs at Pandagon.net. Read a full-length version of this article here
Joe Lockhart: 'Things haven't got better enough'
Politics is the art of noticing the obvious. This dramatic shift in the House of Representatives is a result of high unemployment and a sluggish economy. It's not a regional issue, or even really a partisan issue, but there is a real lack of patience in the country that the president promised that things would get better – and things haven't got better enough. As in British byelections, there is a strong message here for the Democrats and the administration – whether it's fair or not and however valid the excuses about inheriting a bad situation – and that is: turn this economy round and do it now.
So, the president has to focus on the task of getting the economy growing, consumers spending and banks lending again. This election won't completely reset economic policy, but it will dictate the politics over the next two years. The downside for the Democrats is that they will be forced to look again at ideas they'd previously rejected: the Republicans have more leverage now, for instance, to force an extension of the Bush-era tax cuts.
But there is an upside, too, for Obama. There will now be a shared sense of responsibility for getting the economy going. Over the last two years, the Republicans have done all they could to obstruct the government – with the result that, as many economists say, if the stimulus didn't meet expectations, it was because it wasn't big enough to succeed.
That dynamic has changed. Democrats and Republicans now share responsibility on the economy. For all partisan rancour, there may be a new commitment to co-operation.
As for 2012, reading from midterm elections to presidential elections is fraught with peril, but the lesson is that the economy is driving the political debate. If the economy remains slow-growing, the president will face a very tough fight. He will be re-elected, I believe, but it will be very tight. But if the economy comes good in time, the prospects for Obama are very fair.
• Joe Lockhart is a former White House spokesman for President Clinton (1998-2000) and senior media adviser to the 1996 Clinton-Gore campaign and John Kerry's 2004 presidential campaign
http://www.guardian.co.uk/commentisfree/cifamerica/2010/nov/03/us-midterm-elections-panel-verdict
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All related videos »Midterm Elections 2010: American voters have rejected Barack Obama's big government
The Obama Democrats assumed that economic distress would make Americans more supportive of or amenable to big government. Turns out that's wrong, writes Michael Barone.
By Michael Barone
Published: 8:47AM GMT 04 Nov 2010
20 Comments
Barack Obama described the midterm electoral rout of fellow Democrats as 'humbling' Photo: AP
A thumping. That's George W. Bush's word, but it describes what happened to his successor Barack Obama's Democratic party in the congressional and state elections on Tuesday. Republicans ousted Democrats from six Senate seats - ordinarily a good haul for an out of office party in an offyear election. But that is being depicted as something of a failure, since they failed to win seats in West Virginia, California, Nevada and Colorado which seemed within reach. That left them four seats short of a majority in the Senate.
But they didn't fall short in the House of Representatives. There they gained about 65 seats - the exact number will be determined by final canvasses and perhaps recounts - the biggest turnover of House seats since 1948. There will be more Republicans in the next House, about 244 Republicans to 196 Democrats, than at any time during their 12 years in the majority after their 1994 breakthrough; more than in any House since the one elected in 1946.
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Washington insiders of all political stripes agree that if your party could control only one house of Congress, you would prefer to have a majority in the House rather than the Senate, just as any Brit understands that you would rather have a majority in the Commons than in the Lords. The House has rules which enable the leaders of the majority party to determine which bills come to the floor and what amendments, if any, members will be allowed to vote on. Time for debate is strictly limited. Seldom was outgoing Speaker Nancy Pelosi, and seldom were any of her five predecessors, defeated on any significant vote (speakers are party leaders, not neutral arbiters as in the House of Commons).
The Senate is different. Debate proceeds only when the majority leader obtains unanimous consent; non-germane amendments can be offered and must be voted on pretty much any time; a supermajority of 60 out of 100 votes is needed for approval of most significant legislation. So the contrast is clear. A strong speaker can control the House. No one can control the Senate.
The driving force in the new House Republican majority will be upstart Republicans elected with the support of Tea Party movement backers, determined to roll back the Obama Democrats' vast increase in the size and scope of government and eager to repeal the Obama health care legislation even though a presidential veto is assured. The new Speaker, John Boehner (pronounced BAYner), one of 12 children in a working class family who was a conservative rebel himself when he was first elected to the House 20 years ago, has been busy running to try to get ahead of the herd which he is supposed to lead.
Boehner can do bipartisan legislation - he was the lead House Republican putting together the 2001 education bill supported by George W. Bush and Edward Kennedy—but he will spend most of his time staking out partisan ground. Extending all the Bush tax cuts, even those on miscreants making more than $250,000 a year, is a first order of business; they expire January 1. Rolling back government spending to 2008 levels, a promise in the House Republican leaders' Pledge to America issued last September, will take more work. The election results establish conclusively that the Obama Democrats' big increases in government spending are highly unpopular. They don't necessarily establish that spending cuts of Osborneian magnitude will be popular.
Even so, Republicans would be foolish not to act on the assumption that voters want policies sharply different from those of the Obama Democrats. No other administration in recent memory has suffered such a repudiation in its first offyear elections. Franklin Roosevelt's Democrats actually gained House seats in 1934, as did George W. Bush's Republicans in 2002; John Kennedy's Democrats came very close to doing so in 1962. Dwight Eisenhower's, Richard Nixon's and George H. W. Bush's Republicans in 1954, 1970 and 1990 suffered small losses, as did Jimmy Carter's Democrats in 1978.
A more salient comparison is with the fate of Ronald Reagan's Republicans in 1982. Both Reagan and Obama came to office with reputations as inspiring orators and with professional pedigrees (movie actor, community organiser) unusual for a practical politician. Both came to office while the economy was languishing and both saw recessions deepen in their first two years. But there was a big difference in voters' responses. In 1982 the Republicans lost 26 seats in the House - a significant but not enormous loss. Exit polls showed that most voters believed that Reagan's economic policies would produce a good economic recovery in the long run. Lower tax rates, reductions in scheduled government spending -voters believed these would lead to a private sector recovery after an extended period of economic stagnation.
Compare that with the results this week. The Obama Democrats lost about 65 seats - an unusually high number. And polling showed that most voters believe that their policies of increasing government spending and deficits and increasing at least some tax rates will lead not to a private sector recovery but to a continuation of the stagnation so apparent in just about every economic statistic.
The Republican tide did not stop at the House of Representatives chamber and the steps to the Senate. It spread far and wide in state elections, at least in what show business people call the flyover country, the vast expanse between New York and New England in the Northeast and California on the West Coast. Republicans won all the governorships up in flyover country except in Colorado (where they had a nominee with a speckled past), Arkansas and, if confirmed in a recount, Minnesota.
Governor races are important because states can become laboratories for reform, as Wisconsin was for welfare reform in the 1980s and 1990s and various states have been for education choice more recently. They are important also because implementation of the Obama health care legislation requires action by state governors and legislatures - which raises the possibility that the measure's effectiveness can be stalled or even prevented by state governments determined to undermine it.
The state elections are important for one more reason. Under the Constitution, the number of House seats for each state must be apportioned by population. Next month the Census Bureau will announce the results of the 2010 Census and the reapportionment will be governed by a statutory formula. Texas, which has had a prosperous decade, is projected to gain four seats; California, its economy plundered by public sector unions, is projected to gain none for the first time since it was admitted to the Union in 1850.
On Tuesday Republicans captured or held governorships and state legislative majorities which should enable them to draw new congressional districts in Texas (projected to have 36 districts of the 435 total), Florida (27), Pennsylvania (18), Ohio (16), Michigan (14), Georgia (14), North Carolina (13), Indiana (9) and Wisconsin (8). Meanwhile, voters in California (53) approved a ballot proposal that takes congressional redistricting away from the Democratic legislature and governor and gives it to a putatively nonpartisan commission, and voters in New York (27) seem to have deprived the Democrats of their state Senate majority and control over redistricting. That leaves Illinois (18) as the one large state in which Democrats will control redistricting, provided that Democratic Governor Pat Quinn holds on to the 9,000-vote lead he currently enjoys - not a sure thing.
But we are getting into political mechanics here, and risk losing sight of the big lesson of this election. American voters have decisively rejected the Obama Democrats' vast expansion of the size and scope of government. The Obama Democrats assumed that economic distress would make Americans more supportive of or amenable to big government. Turns out that's wrong. Now we'll see what happens next.
Michael Barone is an American political analyst and principal author of The Almanac of American Politics
http://www.telegraph.co.uk/news/worldnews/northamerica/usa/barackobama/8109475/Midterm-Elections-2010-American-voters-have-rejected-Barack-Obamas-big-government.html
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<div class="video-thumb thumbnail"><a class="js-link thumbnail-toggle" href="javascript:void(0);" onclick="return false;"><img src="http://i.ytimg.com/vi/DYFNOGGwbn8/default.jpg" alt="" class="thumbnail" width="120" height="90"> <div class="icon play-icon"></div></a></div> <div class="video-details"><a href="http://www.youtube.com/watch?v=DYFNOGGwbn8">Obama on Midterm Shellacking: 'It Feels Bad'</a> <span class="source">PBS News Hour</span> - 14 hours ago <div class="icon video-icon"></div> <a href="http://www.youtube.com/watch?v=DYFNOGGwbn8">Watch video</a></div>
Boehner: Smaller Government is What America Wants
PBS News Hour - 14 hours ago Watch video
<div class="video-thumb thumbnail"><a class="js-link thumbnail-toggle" href="javascript:void(0);" onclick="return false;"><img src="http://i.ytimg.com/vi/rrbMJDCPprE/default.jpg" alt="" class="thumbnail" width="120" height="90"> <div class="icon play-icon"></div></a></div> <div class="video-details"><a href="http://www.youtube.com/watch?v=rrbMJDCPprE">Boehner: Smaller Government is What America Wants</a> <span class="source">PBS News Hour</span> - 14 hours ago <div class="icon video-icon"></div> <a href="http://www.youtube.com/watch?v=rrbMJDCPprE">Watch video</a></div>
Obama Signals Compromise With GOP
The Associated Press - 16 hours ago Watch video
<div class="video-thumb thumbnail"><a class="js-link thumbnail-toggle" href="javascript:void(0);" onclick="return false;"><img src="http://i.ytimg.com/vi/AebviXOIfd0/default.jpg" alt="" class="thumbnail" width="120" height="90"> <div class="icon play-icon"></div></a></div> <div class="video-details"><a href="http://www.youtube.com/watch?v=AebviXOIfd0">Obama Signals Compromise With GOP</a> <span class="source">The Associated Press</span> - 16 hours ago <div class="icon video-icon"></div> <a href="http://www.youtube.com/watch?v=AebviXOIfd0">Watch video</a></div>
Texas House GOP Makes Huge Gains
Texas Tribune - 17 hours ago Watch video
<div class="video-thumb thumbnail"><a class="js-link thumbnail-toggle" href="javascript:void(0);" onclick="return false;"><img src="http://i.ytimg.com/vi/fFboqvJBD70/default.jpg" alt="" class="thumbnail" width="120" height="90"> <div class="icon play-icon"></div></a></div> <div class="video-details"><a href="http://www.youtube.com/watch?v=fFboqvJBD70">Texas House GOP Makes Huge Gains</a> <span class="source">Texas Tribune</span> - 17 hours ago <div class="icon video-icon"></div> <a href="http://www.youtube.com/watch?v=fFboqvJBD70">Watch video</a></div>
Republicans take control of House of Representatives in US midterms
Al Jazeera - 17 hours ago Watch video
<div class="video-thumb thumbnail"><a class="js-link thumbnail-toggle" href="javascript:void(0);" onclick="return false;"><img src="http://i.ytimg.com/vi/keVho671eNg/default.jpg" alt="" class="thumbnail" width="120" height="90"> <div class="icon play-icon"></div></a></div> <div class="video-details"><a href="http://www.youtube.com/watch?v=keVho671eNg">Republicans take control of House of Representatives in US midterms</a> <span class="source">Al Jazeera</span> - 17 hours ago <div class="icon video-icon"></div> <a href="http://www.youtube.com/watch?v=keVho671eNg">Watch video</a></div>
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During the primary phase of the Presidential campaign, Joe Biden got into trouble for saying that Obama, his then opponent, was "the first mainstream African-American who is articulate and bright and clean and a nice-looking guy" and Harry Reid got spanked in 2008 for suggesting that Obama might well win the election because he was "light skinned" and free from "negro dialect".
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US voters' domestic focus means the globe felt left out
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The elections aroused comparatively little interest abroad, despite curiosity about the 'tea party.' With the US in a slump, voters were demanding ...
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All 38 related articles » <a href="http://ad.doubleclick.net/jump/trb.latimes/news/natworld;;ptype=s;slug=la-fg-us-election-global-20101103;rg=ur;ref=googlecoin;pos=T;sz=728x90;tile=1;ca=ReligiousConflicts;en=BarackObama;at=ReligiousConflicts;at=CivilUnrest;at=UnrestConflictsandWar;at=BarackObama;at=Elections;u=http://www.latimes.com/news/nationworld/world/la-fg-us-election-global-20101103,0,497854.story;ord=65265420?" target="_blank" rel="nofollow"><img src="http://ad.doubleclick.net/ad/trb.latimes/news/natworld;;ptype=s;slug=la-fg-us-election-global-20101103;rg=ur;ref=googlecoin;pos=T;dcopt=ist;sz=728x90;tile=1;ca=ReligiousConflicts;en=BarackObama;at=ReligiousConflicts;at=CivilUnrest;at=UnrestConflictsandWar;at=BarackObama;at=Elections;u=http://www.latimes.com/news/nationworld/world/la-fg-us-election-global-20101103,0,497854.story;ord=65265420?" width="728" height="90" border="0" alt=""></a>U.S. voters' domestic focus means the globe felt left out
The elections aroused comparatively little interest abroad, despite curiosity about the 'tea party.' With the U.S. in a slump, voters were demanding politicians talk jobs, not, say, the Afghan war.
Just two years ago, the world watched with fascination as Americans elected their first African American president, who raised expectations with promises of a new direction in how U.S. power was projected abroad. But a ramped-up war in Afghanistan, stumbling attempts to broker peace in the Middle East and sharper clashes with China over the global economy have led to a widespread sense of letdown over Barack Obama's presidency.
This week's midterm elections with their overwhelming focus on U.S. domestic issues predictably aroused much less interest outside the United States, despite curiosity about the "tea party" phenomenon. With the U.S. economy mired in a slump, voters were demanding that their politicians talk jobs, not the Afghan war. The result was an election that seemed to have little to do with the rest of the world.
But the votes that gave Republicans control of the House of Representatives and reduced Obama's maneuvering room in the Senate may yet have repercussions on the administration's foreign policy. Concern about job losses could lead to a tougher line with China over what is seen in Washington as its undervalued currency. One clue as to how much of a change to expect will be how much attention Obama gives to the issue of American jobs that have been outsourced to India when he visits New Delhi later this week.
Republican resurgence could also make it more difficult for Obama to wring concessions out of Israel in Washington's pursuit of Mideast peace. Anti-Afghan war Democrats will make Obama more dependent upon Republican support if he chooses to press an extensive ground war beyond his self-imposed August 2011 deadline to begin pulling troops out of the fight against the Taliban and other insurgents.
Get dispatches from Times correspondents around the globe delivered to your inbox with our daily World newsletter. Sign up »
Here is how the midterm results played in parts of the world (and how Mexican authorities reacted to the defeat of the California ballot proposition that would have legalized personal use of marijuana):
Danny Danon, Likud Party member of Israel's parliament:
"The huge influx of newly elected representatives and senators includes dozens of strong friends of Israel who will put the brakes on the consistently dubious, sometimes dangerous policies of President Obama regarding Israel these past two years. The change of majority in the House, with its responsibility for shaping America's budget, gives tremendous influence to our friends as a counter-pressure to the president's role in leading on foreign policy work."
Benedict Brogan, deputy editor of the Daily Telegraph, London:
Barack Obama's love of printing money and deficit spending is bad enough, but you will find folk in Downing Street who fear mainstream Republicans are on the wrong economic path as well. Tackling the fiscal mess is not the priority in America that it is here. A big difference. Which is why many in the leadership say we should listen to the body of the Tea Party movement, not its zanier witch-friendly fringes. They like a lot of what they hear from this remarkable movement, they just wish the Republican leadership was more responsive to its arguments.
Mohammad Marandi, head of the North American Studies department at the University of Tehran:
"Contrary to what is often believed to be the case in the U.S., the Iranian view is that Obama never made any serious move or gesture to improve relations and that he hasn't shown the courage needed to bring about real change. Iranians believe that unless the U.S. changes course on its Iran policy and moves toward easing tensions, the situation will continue to grow worse for the United States in the region."
Rafia Zakaria, an attorney and frequent commentator for Dawn, an English-language Pakistani daily:
"A split government is a slow one. With Republicans controlling the House of Representatives, the Obama administration will find it far more difficult to pass legislation without significant compromises. For Pakistanis, this could mean further delays and conditions attached to the military and civilian aid packages whose delivery they await from Washington."
Mexican Health Secretary Jose Angel Cordova:
"I think the rejection [of Prop. 19] was really a successful response of the California community that believes that [legalization] would bring an increase in the use of drugs, something that has been scientifically demonstrated. From a public health point of view, we do not believe that legalization is good policy because it will increase consumption ... and bring about more problems of demand and sick addicts."
— Times staff writers Edmund Sanders in Jerusalem; Borzou Daragahi in Beirut; Alex Rodriguez in Islamabad, Pakistan; and Tracy Wilkinson in Mexico City contributed to this report.
Copyright © 2010, Los Angeles Times
http://www.latimes.com/news/nationworld/world/la-fg-us-election-global-20101103,0,497854.storyNews for American Voters
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Little expectations from Obama's visit, says India Inc
Hindustan Times - 1 hour ago
PTI India Inc on Thursday said it is not expecting much from US President Barack Obama's India visit, as he is struggling to deal with economic issues back home. "Economic situation is not very well (in the US) and jobs are still not being created. ...
Mumbai rehearses for Obama visit
NDTV.com - 2 hours ago
Mumbai: First choppers surveying the shore and then a full-blown mock drill in South Mumbai from the helipad where US President Barack Obama will land to his first stop - the Taj Hotel. Agents from the US secret services, Indian intelligence agencies ...
Security drill conducted in Mumbai ahead of Obama's visit
Daily News & Analysis - 32 minutes ago
Place: Mumbai | Agency: PTI An elaborate security drill involving nearly 5000 US and Indian personnel was conducted today at different venues and routes that are on the itinerary of US President Barack Obama who will be visiting the city over the ...
Outsourcing has created US jobs: India's message to Obama
Economic Times - 1 hour ago
NEW DELHI: India will seek to impress upon US President Barack Obama during his Nov 6-9 visit that outsourcing has actually created thousands of jobs in the US, and not taken them away. "The issue of outsourcing will obviously figure in the discussions ...
Obama visit: India downplays differences, hopes for high-tech trade
Sify - 59 minutes ago
New Delhi, Nov 4 (IANS) Two days ahead of US President Barack Obama's visit, India Thursday sought to downplay differences over a host of persisting issues like outsourcing and a UN Security Council seat and hoped for a positive outcome over easing of ...
Obama visit: India Inc hopes for boost in trade
NDTV.com - 1 hour ago
Corporate India is expecting US President Barack Obama's India visit beginning this weekend would result in more opportunities for business in the American market and the world's largest economy will remain accessible to exports from the country. ...
India 'reasonably optimistic' on high-tech exports
Sify - 1 hour ago
New Delhi, Nov 4 (IANS) Two days ahead of US President Barack Obama's visit, India Thursday said it was 'reasonably optimistic' about the relaxation of US high-tech exports and its support for joining elite nuclear clubs like the Nuclear Suppliers ...
Indian IT companies provide solution, not a problem: Pilot
Sify - 1 hour ago
New Delhi, Nov 4 (IANS) The United States should look Indian IT companies not as a problem but as part of the solution as these provide jobs to the local people and add to the country's development, Minister of State for IT Sachin Pilot said Thursday. ...
US shouldn't be protectionist, says BJP ahead of Obama visit
Daily News & Analysis - 31 minutes ago
Place: New Delhi | Agency: PTI BJP today welcomed the visit of President Barack Obama to India but said being a major economy, the US should not play the role of a "protectionist". "BJP welcomes the visit of President Obama to India later this week. ...
India, US to sign pact on weather, crop forecasting
Sify - 2 hours ago
New Delhi, Nov 4 (IANS) India and the US are set to sign a pact on weather and crop forecasting, a step that will deepen their cooperation in agriculture. 'We hope to conclude an MoU (memorandum of understanding) on weather forecasting and crop ...
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Obama's India visit, a business tour: CPI (M)
Asian News International (ANI) - Nov 3, 2010 Watch video
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The Obama Visit: India Inc Optimistic (II)
NewsX - Nov 2, 2010 Watch video
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The Obama Visit: India Inc Optimistic (I)
NewsX - Nov 2, 2010 Watch video
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All related videos »Obama calls party leaders meeting
BBC News - 13 minutes ago
US President Barack Obama has asked Republican and Democratic Congressional leaders to come to a meeting at the White House. The 18 November meeting will include House Speaker-elect John Boehner, Senate Republican leader Mitch McConnell, House speaker ...
Obama vows to 'move American people's agenda forward'
CNN - 56 minutes ago
By the CNN Wire Staff Washington (CNN) -- President Barack Obama has invited the leaders of the Republicans and Democrats in both houses of Congress to join him in a meeting to discuss what to do in the waning days of this Congress' term, ...
Triumph triggers battle for Republican soul
The Australian - Giles Whittell - 2 hours ago
THE incoming Republican Speaker vowed yesterday to repeal the "monstrosity" of the US Barack Obama's healthcare reforms as soon as congress returned to work. John Boehner, who cultivates the image of a plain-spoken midwesterner, said he and the ...
After 'shellacking,' Obama laments disconnect with voters
Indian Express - 4 hours ago
President Barack Obama gestures during a news conference in the East Room of the White House. Feeling "bad" after an election drubbing, President Barack Obama has acknowledged that he and his Democrats took "a shellacking" from angry American voters ...
Election results are open to (careful) interpretation
Washington Post - Dan Balz - 9 hours ago
History is replete with politicians and political parties that misinterpreted the meaning of elections. President Obama and GOP leaders are in danger of doing so, too. For Republicans, it's the classic problem of overinterpreting ...
Republican whitewash could spell end of Obama's presidency
ABC Online - 7 hours ago
A US political expert is predicting policy deadlock in the United States - and he says that could see a shutdown of the federal government as early as January. Simon Jackman is professor of politics at Stanford University and is also a visiting fellow ...
Defeated Democrats outspent GOP in many campaigns
Washington Post - T.W. Farnam, Dan Eggen - 10 hours ago
The vast group of House Democrats defeated Tuesday lacked many things, but money wasn't one of them. In two-thirds of the House seats that Republicans picked up Tuesday, Democratic candidates had more money behind them, ...
Results of key races in US midterm elections
Times of India - Chris Wilson - Nov 2, 2010
WASHINGTON: President Barack Obama's Democrats will keep control of the US Senate, media projected on Tuesday. Republicans were projected to take control of the House of Representatives, but the Democrats would retain a slimmer majority in the Senate. ...
Republican victories scream NOBAMA!
Times of India - Peter Baker - 20 hours ago
Somewhere along the way, the apostle of change became its target, engulfed by the same currents that swept him to the White House two years ago. Now, President Obama must find a way to recalibrate with nothing less than his presidency on the line. ...
Americans vote against Obama's party, Republicans take House
Daily News & Analysis - Nov 3, 2010
Place: Washington, DC | Agency: PTI Dealing a body blow to President Barack Obama, US voters frustrated over his economic policies today delivered a stunning defeat to his Democratic Party handing control of the House of Representatives to opposition ...
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Inside Story - Obama's post-election strategy
Al Jazeera - 5 hours ago Watch video
<div class="video-thumb thumbnail"><a class="js-link thumbnail-toggle" href="javascript:void(0);" onclick="return false;"><img src="http://i.ytimg.com/vi/cMZcFbqnTOA/default.jpg" alt="" class="thumbnail" width="120" height="90"> <div class="icon play-icon"></div></a></div> <div class="video-details"><a href="http://www.youtube.com/watch?v=cMZcFbqnTOA">Inside Story - Obama's post-election strategy</a> <span class="source">Al Jazeera</span> - 5 hours ago <div class="icon video-icon"></div> <a href="http://www.youtube.com/watch?v=cMZcFbqnTOA">Watch video</a></div>
Obama on Midterm Shellacking: 'It Feels Bad'
PBS News Hour - 14 hours ago Watch video
<div class="video-thumb thumbnail"><a class="js-link thumbnail-toggle" href="javascript:void(0);" onclick="return false;"><img src="http://i.ytimg.com/vi/DYFNOGGwbn8/default.jpg" alt="" class="thumbnail" width="120" height="90"> <div class="icon play-icon"></div></a></div> <div class="video-details"><a href="http://www.youtube.com/watch?v=DYFNOGGwbn8">Obama on Midterm Shellacking: 'It Feels Bad'</a> <span class="source">PBS News Hour</span> - 14 hours ago <div class="icon video-icon"></div> <a href="http://www.youtube.com/watch?v=DYFNOGGwbn8">Watch video</a></div>
Boehner: Smaller Government is What America Wants
PBS News Hour - 14 hours ago Watch video
<div class="video-thumb thumbnail"><a class="js-link thumbnail-toggle" href="javascript:void(0);" onclick="return false;"><img src="http://i.ytimg.com/vi/rrbMJDCPprE/default.jpg" alt="" class="thumbnail" width="120" height="90"> <div class="icon play-icon"></div></a></div> <div class="video-details"><a href="http://www.youtube.com/watch?v=rrbMJDCPprE">Boehner: Smaller Government is What America Wants</a> <span class="source">PBS News Hour</span> - 14 hours ago <div class="icon video-icon"></div> <a href="http://www.youtube.com/watch?v=rrbMJDCPprE">Watch video</a></div>
Obama Signals Compromise With GOP
The Associated Press - 16 hours ago Watch video
<div class="video-thumb thumbnail"><a class="js-link thumbnail-toggle" href="javascript:void(0);" onclick="return false;"><img src="http://i.ytimg.com/vi/AebviXOIfd0/default.jpg" alt="" class="thumbnail" width="120" height="90"> <div class="icon play-icon"></div></a></div> <div class="video-details"><a href="http://www.youtube.com/watch?v=AebviXOIfd0">Obama Signals Compromise With GOP</a> <span class="source">The Associated Press</span> - 16 hours ago <div class="icon video-icon"></div> <a href="http://www.youtube.com/watch?v=AebviXOIfd0">Watch video</a></div>
Republicans take control of House of Representatives in US midterms
Al Jazeera - 17 hours ago Watch video
<div class="video-thumb thumbnail"><a class="js-link thumbnail-toggle" href="javascript:void(0);" onclick="return false;"><img src="http://i.ytimg.com/vi/keVho671eNg/default.jpg" alt="" class="thumbnail" width="120" height="90"> <div class="icon play-icon"></div></a></div> <div class="video-details"><a href="http://www.youtube.com/watch?v=keVho671eNg">Republicans take control of House of Representatives in US midterms</a> <span class="source">Al Jazeera</span> - 17 hours ago <div class="icon video-icon"></div> <a href="http://www.youtube.com/watch?v=keVho671eNg">Watch video</a></div>
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