25 June 2012

'Dewani Tours - treat your wife to a killer holiday' t-shirts spark outrage in South Africa

Johannesburg: Selling of T-shirts carrying objectionable slogan referring to the gruesome murder of Indian-origin Anni Dewani have sparked a fresh controversy in Johannesburg, attracting criticism from different sections of the society, including that from the victim's family.

The apparel with the message "Dewani Tours - treat your wife to a killer holiday" apparently refers to the killing of Indian-origin honeymoon bride Anni Dewani in Gugulethu township of Cape Town in 2010, for which her British husband Shrien Dewani is facing extradition plans to stand trial after being implicated in the murder.

The message uses a popular English font type resembling Hindi script, reminding readers of Anni Dewani's Indian origins.


"This is a blatant disregard and disrespectful way of showing no remorse over a killing that shocked not just South Africa but the world," said Mr Gugulethu resident Vusi Ndoda, noting the incident has severely impacted on tourism in the area.

He said he will talk to the Indian-origin businessman Dinesh Dowlath, who is the man behind the idea, to withdraw the clothing, failing which he would campaign for boycotting his stores and organise protests at his businesses.

Mr Dowlath, on the other hand, has rejected suggestions that he was making light of the horrific murder, pointing out that T-shirts with often controversial and ambiguous statements had been the speciality of his stores.

Although agreeing to the sensitivity of the matter, Mr Dowlath told the weekly Sunday Times Extra that there was a market for such clothing as people see the humour in them.

"These T-shirts are for a discerning intelligent market," Mr Dowlath said, adding that although he created most of the slogans on his T-shirts, this one was suggested by a customer.

Meanwhile the victim's family has decried the situation, calling on Mr Dowlath to "let decency prevail." 

"As a family, we haven't even started our grieving because the case is on hold and yet, there are those horrible people out there who see profit in this," Anni's uncle Ashok Dewani told the weekly from his Sweden home.

Sensex slips below 17k after RBI announces new measures

The BSE Sensex and the Nifty hit the day's low after the Reserve Bank announced a slew of measures to attract capital in the country. But, clearly markets were disappointed, as evident from the initial reaction.

The Sensex and the Nifty slipped in to the red, while the rupee traded off the day's high. At 2.42 p.m., the Sensex traded 63 points or 0.4 per cent lower at 16,910, while the Nifty was down 25 points to 5,121.

"Somehow there was a built-up of expectations that there would be a grand announcement... may be of a sovereign bond issue," Sajid Chenoy of JP Morgan told NDTV Profit.



Markets were anticipating announcements that would perhaps give a boost to the economy, and support the rupee. But, RBI's measures turned out to be a move to support the currency, and not the broader economy.

"The attempt has been to open up the capital flows into the country. All this will have some impact on capital inflows in the country, and thereby on the value of the rupee," C Rangarajan, chairman of the PM's economic advisory council told NDTV Profit.

In a note, brokerage firm UBS said, “Nifty flat, rupee up just 45 basis points... much ado about nothing."

Meanwhile, here's what the RBI announced to help revive the rupee and the economy.
                        
The external commercial borrowing limit has been hiked by $10 billion for new projects/refinancing. The government securities limit has been hiked to $20 billion from $15 billion. Sovereign wealth funds and pension funds can now invest in Indian bonds.

RBI dose for rupee


In a bid to check rupee's free falling against the US dollar, the Reserve Bank of India (RBI) on Monday hiked the limit of external commercial borrowing (ECB) to USD 10 billion. Moreover, the regulator also increased the limit of overseas investment in government bonds by USD 5 billion to USD 20 billion.
"It has been decided to allow Indian companies in manufacturing and infrastructure sector and having foreign exchange earnings to avail of external commercial borrowing (ECB) for repayment of outstanding rupee loans towards capital expenditure and/or fresh Rupee capital expenditure under the approval route. The overall ceiling for such ECBs would be USD 10 billion," RBI said in a press release after consulting the government of India.
Currently, Foreign institutional investors (FIIs) can investment in Indian corporate bonds upto USD 20 billion. While  the cap in government bonds is at USD 15 billion, FIIs are barred to invest in infrastructure bonds upto USD 25 billion.
Along with the hike in investment limit, RBI also enlarged the basket of investors including sovereign wealth funds (SWFs), multilateral agencies, endowment funds, insurance funds, pension funds and foreign central banks; to invest in government bonds for entire limit of USD 20 billion.
Overseas investors so far have not shown enough interest in infra bonds while the demand for corporate bonds and government bonds are relatively higher.
Currently, FIIs can earn an interest rate in the range of 9.30-9.50% for a AAA rated instrument. For corporate bonds, it is slightly higher in the range of 9.70-9.75% for the similar kind of papers.
"Overall there are dissapointments but it (measures) has some positive takeaways," Moses Harding, head of ALCO & economic research, IndusIndus told Moneycontrol.com.
"The increase in G-sec limits will have immediate impact while other two measures would yield results in short to medium term. The demand for government bonds is still persisting among FIIs while it has been tepid for both corporate and infra bonds. Moreover, measures indicate that both RBI and government are equally concerned about exchange rate," he said.
Side by side, RBI made efforts to tap investments by qualified foreign investors (QFIs) to resist rupee's downfall against the greenback.
QFIs, according to the release, can now invest in mutual fund schemes that hold at least 25% of their assets (either in debt or equity or both) in infrastructure sector under the current USD 3 billion sub-limit for investment in mutual funds related to infrastructure.
"The terms and conditions for the scheme for FII investment in infrastructure debt and the scheme for non-resident investment in Infrastructure Development Funds (IDFs) have been further rationalised in terms of lock-in period and residual maturity," RBI added further.

Historical Dastgeer Sahib shrine in Srinagar gutted in blaze

Srinagar: A fire has broken out at the more than 100-year-old shrine of Dastgeer Sahib in the Khanyar area of Srinagar. Fire tenders have been rushed to the spot to bring the blaze under control at the shrine that is mostly made up of wood. However ancient relics of the saint, housed in the Shrine have been saved and retrieved. Officials say since they were kept in a fire-proof safe they remained unharmed.  

The fire started this morning around 6.30 am after prayers and eyewitnesses say that within a few minutes it had spread to the entire complex. 

Scores of locals gathered at the shrine weeping and wailing while they watched the blaze.


The shrine of the 11th century saint is highly revered across religions in Kashmir. While Muslims call the saint Ghaus-e-Azam, the Hindus revere the saint as Kahnoow.

फ़ैसले का सोमवार, वित्त मंत्री के रूप में प्रणब का आखिरी दिन

नई दिल्ली: प्रणब मुखर्जी के लिए आज का दिन वित्त मंत्री के तौर पर आखरी दिन होगा और वह कह चुके हैं कि सोमवार को कुछ अहम घोषणाएं की जाएंगी, लेकिन सवाल यह है कि महीनों से टल रहे नीतिगत फैसले और रुपये की बुरी हालत क्या एक दिन में पलट सकती है।

राष्ट्रपति चुनाव का पर्चा भरने से पहले प्रणब मंगलवार को अपने पद से इस्तीफा दे रहे हैं। सोमवार को प्रणब मुखर्जी ऐसा क्या कर सकते हैं जो भारत की अथर्व्यवस्था की बिगड़ती हालत को संभाल सके। कुछ ऐसा ही करने का दावा प्रणब ने कोलकाता जाकर किया।

दरअसल अपनी ज्यादातर दिक्कतों के लिए प्रणब किसी ना किसी बाहरी ताकत को दोष देते रहे हैं।

उनके कार्यकाल में डॉलर के मुकाबले रुपये की कीमत पिछले एक साल के दौरान 20 फ़ीसदी गिर चुकी है। कारखानों में विकास धीमा पड़ गया है। शेयर बाज़ार पिछले हफ्तों से कई गोते खा चुका है और महंगाई अब भी 10 फ़ीसदी से ऊपर है।

इसके लिए अधिकतर जानकार प्रधानमंत्री और वित्त मंत्री की जोड़ी को ज़िम्मेदार ठहरा रहे हैं।

...तो क्या आज कोई चमत्कार होगा... क्या एक दिन में सब कुछ ठीक हो जाएगा... बिल्कुल नहीं, लेकिन अगर सरकार ने कड़े कदम उठाने का फ़ैसला कर लिया है तो यह एक अच्छी ख़बर है।
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