India, China improve ranking as attractive FDI markets!
US institutions to partner for proposed innovation varsities!
Troubled Galaxy Destroyed Dreams,Chapter 491
Palash Biswas
http://indianholocaustmyfatherslifeandtime.blogspot.com/
PSU Disinvestment List Gets Longer as ARUNDHATI backs the Maoists!
India and China with their rapid economic growth rates have bettered their rankings as preferred investment destinations, while Europe has taken a hit, a study said on Wednesday.
India, China improve ranking as attractive FDI markets!
US institutions to partner for proposed innovation varsities!
Author-activist Arundhati Roy, who has been accused of romanticising Naxalism, has said she will continue to back the Maoists' armed struggle even if she is put behind bars. While claiming that she does not support violence, the 48-year-old Booker Prize winner feels that the Naxal movement could be nothing but an armed struggle as the Gandhian way would not have been successful in the present context.
Arrest me for speaking for Naxals: Arundhati
My wife has been misunderstood: Pradip Kishen
Arundhati says Cong is double-faced on Maoists
While stating that she was on the side of insurgency, Ms. Roy said, "I don't defend the killing of innocent people by anybody. 'Do you believe in violence,' is a brain-dead question." more by Arundhati Roy - 19 hours ago - The Hindu (1 occurrences) |
'I believe in romance of revolution'
"Can we leave the bauxite in the mountain?"
I'm on Maoists' side, I don't care if they pick me up, says Roy
State forced Maoists' hand: Arundhati Roy
Violence and freedom: Responding to the Maoist challenge
I didn't term Maoists as 'Gandhians with guns': Arundhati Roy
Arundhati Roy backs Maoists
Arundhati Roy on romanticising violence
MyNews.in - 1 hour agoWriter-activist Arundhati Roy was in Mumbai on Wednesday to speak on 'War on people' at the Marathi Patrakar Sangh. Speaking about the criticism against her ...Now an e-magazine for Indian writing in English
Times of India - 3 days agoTHIRUVANANTHAPURAM: Do writings of Booker Prize winner Arundhati Roy, Sashi Tharoor or other Indian Indian-English writers, which have won global critical ...Unacceptable train of NGO thought
Saudi Gazette - Ramesh Balan - 12 hours ago
On what grounds do civil society members such as writer Arundhati Roy and activist Sujato Bhadra discount these security men who are still one of us ...-
Call a spade a spade
Hindustan Times - Barkha Dutt - 5 days ago
We do not want the passive inertia of a Shivraj Patil nor do we endorse the rose-tinted romanticism of an Arundhati Roy. Patil's head-in-the-sand denials ...Maoists in India: Long struggle for the landless poor - The Guardian
Develop democratic alternative in tribal hinterlands - MyNews.in
all 3193 news articles »
India This Evening: India Pushes For Expansion Of Permanent Seats ...
Wall Street Journal (blog) - 45 minutes ago(Source: Times of India) Arundhati Backs Maoists, Dares Authorities To Arrest Her: ... Booker Prize winning author Arundhati Roy has justified the armed ...Cops shouldn't have used public bus: Arundhati
Times of India - 18 May 2010A day after 50 civilians were killed in the latest Maoist attack, author-activist Arundhati Roy came up on Tuesday with a qualified condemnation. ...Arundhati blames Centre for Naxal attack - IBNLive.com
all 4 news articles »The ugly side of land acquisition in India
MyNews.in - 1 day agoArundhati Roy Controversies, protests and violence have marred land acquisition for projects in India. Protests against acquiring agricultural land, ...Arundhati Roy was the first Indian writer whose work I loved ...
Daily News & Analysis - Aveek Bhowmik - 14 May 2010
"Arundhati Roy was the first Indian writer whose work I loved. Her Booker Prize book, The God Of Small Things, is one of my favourite books. ...
Arundhati Roy to CNN on Maoists in India
India Infoline.com - 24 May 2010Arundhati Roy, won the coveted Booker Prize for fiction in 1997. The book has been translated into dozens of languages worldwide and since its publication, ...
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According to global consultancy firm Ernst & Young's 2010 European Attractiveness Survey, China (39 per cent) edged past Western Europe (38 per cent) as the most attractive foreign direct investment destination for this year. These two top FDI magnets are followed by Central and Eastern Europe (24 per cent) at third place, while India shares fourth position with North America (22 per cent each), the survey of 814 leading global investors showed. Going forward, E&Y sees a clear shift in the world's economic weight eastwards, as they rank China (66 per cent), India (61 per cent) and Central & Eastern Europe (59 per cent) as the most attractive regions for FDI projects in the next three years. Western Europe, which currently ranks as the second-most popular destination for FDI, is expected to fall to fifth place behind Brazil in E&Y's future attractiveness rating. "For the next three years, investors continue to see China, India and Central and Eastern European (CEE) nations as their route to future riches," the report stated. The report stated that in the improved economic scenario, investors have resumed their hunt for higher returns, leading to global FDI competition. This has resulted in levelling of the playing field, it said. Both East and West Europe have been hit badly by the economic crisis, which has raised doubts about the region continuing to play a leading role in a multi-polar world if it is unable to attract new investments, the report added. Europe saw a 11 per cent decline in new FDI projects in 2009, with just 3,303 deals registered during the year. Moreover, FDI in Europe created 16 per cent fewer jobs in 2009 than the previous year. In addition, projects of international investors continue to be scaled back, if not postponed or cancelled. |
Selloff lineup gets longer, but cos want proceeds for own use
3 Jun 2010, 0532 hrs IST,Surabhi & Deepshikha Sikarwar,ET BureauNEW DELHI: Fresh from the success of stake sale in hydel power producer SJVN, the government is prodding more public companies to hit the market, even if it means little to its efforts to bridge the fiscal deficit.
The country's largest metal trading company, MMTC, National Fertilisers (NFL) and Rashtriya Chemicals and Fertilisers (RCF) are the latest selloff candidates. The government is looking to raise Rs 40,000 crore this year by selling its stakes in public sector firms.
"The government's policy on disinvestment is much more than achieving targets. It is also about broad-basing ownership in PSUs and improving their corporate governance by listing them on the bourses," a senior finance ministry official said.
The disinvestment department has already begun talks with the fertiliser ministry on selling up to 10% stake each in the companies. It is hopeful that they will be part of its selloff starting line up for 2010-11. "The ministry of fertiliser has moved a proposal for divesting stake in these companies. They will be using the funds for their internal use only. We have no issues provided they meet the listing criteria," the official said.
The government currently holds 92.5% stake in RCF and 97.64% in NFL. The two companies have reported net profits in the last three years, thus meeting one key condition in the government's disinvestment policy.
Similarly, the government has begun the process of divesting stake in MMTC, which is also keen to raise fresh equity. "The proposal is with the commerce ministry. It has to take a call on when and how, whether it will be disinvestment or disinvestment plus fresh issue," the official said. The government currently holds 99.33% in MMTC and a follow-on public could fetch the government up to Rs 10,000 crore, close to the amount it plans to raise from stake sale in Coal India Ltd.
The department of disinvestment is preparing another six PSUs to hit the market this year. These include Engineers' India, Steel Authority of India, CIL, PowerGrid Corporation and Shipping Corporation of India.
While the government would be divesting its stake in most of these companies, Shipping Corporation of India has said that its offer would also include fresh equity to finance its capex plans.
http://economictimes.indiatimes.com/news/economy/finance/Selloff-lineup-gets-longer-but-cos-want-proceeds-for-own-use/articleshow/6005644.cms
Corporate
Duration: 03:13
Posted: 3 Jun, 2010, 1830 hrs IST
Duration: 01:05
Posted: 3 Jun, 2010, 1741 hrs IST
Economic Times Reports:
The government on Wednesday announced measures to streamline and fasten the process of divesting stake in public sector units, as it tries to meet the Rs 40,000 crore target from disinvestment proceeds in 2010-11. It will now clear the appointment of merchant bankers and other market intermediaries at the same time as it approves the case for disinvestment in public sector units.
"The appointment of merchant bankers and other intermediaries will now be taken up simultaneously with the process of seeking CCEA approval as soon as the minister in charge has approved the case," according to an official statement after a meeting of the Cabinet Committee on Economic Affairs on Wednesday.
This would be a shift from the current practice where the department of disinvestment (DoD) initiates the process of appointing merchant bankers and legal advisers for managing an issue only after the PSU gets the Cabinet approval for a public offer. The entire selection process can take up to a month from the time when bids are invited.
The only exception from the practice has been Coal India where the department has already selected the merchant bankers even before it gets CCEA clearance for a 10% initial public offering in the company.
"It is expected that the time saved will be optimally utilised in preparing for the actual transaction and in facilitating the disinvestment process," the statement said.
The move is aimed at speeding up the disinvestment programme and ensuring that there is sufficient time between two public offers, which in turn would ensure investor appetite. "Whenever there are a large number of issues lined up, there is always a risk of investor fatigue. So they need to be planned carefully in advanced," an official said.
The financial year 2010-11 is expected to be a busy one with as many as 10 PSUs likely to hit the market with their public offerings. The disinvestment department is already working on three big ticket PSU stake sales including those in Engineer's India, Coal India and Steel Authority of India, which are expected to hit the market in the next few months.
About seven other PSUs including Indian Oil, MMTC, RINL and Shipping Corporation, Hindustan Copper, Power Grid and Manganese Ore India are also on the government's disinvestment agenda for the year.
The government had recently also come out with new norms for selecting merchant bankers where more importance is given to their technical qualifications and experience and less weightage to their financial bids.
http://economictimes.indiatimes.com/news/economy/finance/PSU-divestment-nod-will-come-with-names-of-merchant-bankers/articleshow/5978940.cms
"The Naxal movement could be nothing but an armed struggle. I am not supporting violence. But I am also completely against contemptuous atrocities-based political analysis," she said delivering a lecture on "The War on People" organised by the Committee for Protection of Democratic Rights here late last night.
"I am on this side of the line. I do not care. Pick me up put me in jail," she said. While terming the Naxalite violence as a corollary to the battle between the tribals and corporate houses to gain control over natural resources like minerals, water and forests, she said, "While 99 per cent of Maoists are tribals, 99 per cent of tribals are not Maoists."
"What the government calls Maoists corridor, is in fact MoU-ist corridor. You have an MoU on every mountain, river. MoUs signed by biggest corporations in the world who are waiting to gain hold of the resources," Roy said.
Explaining the economics behind iron ore mining, Roy quoting from Lokayukta's report said, while the government earns Rs 24 per tonne, the mining company gets Rs 5,000.
"They have a history of resistance which predates Mao. They were always armed.They are just using those bows and arrows against sophisticated weapons of security forces deployed by the government to crush their movement," she said.
"What the government calls Maoists corridor, is in fact MoU-ist corridor. You have an MoU on every mountain, river.MoUs signed by biggest corporations in the world who are waiting to gain hold of the resources," Roy said.
They have a history of resistance which predates Mao. They were always armed...they are just using those bows and arrows against sophisticated weapons of security forces deployed by the government to crush their movement, she said.
Roy also clarified her reported remarks glorifying Maoists as "Gandhians with Guns".
"I never called them Gandhians with guns. It was a blurb carried by a magazine. What I meant was that they (Naxals) are more Gandhian than any other Gandhian in their consumption pattern, their lifestyle."
Noted writer and Naxal sympathiser Arundhati Roy on Wednesday clarified that she never termed Maoists as 'Gandhians with Guns'.
"I never called them Gandhians with guns. It was a blurb carried by a magazine. What I meant was that they (Naxals) are more Gandhian than any other Gandhian in their consumption pattern...their lifestyle, which is in stark contrast to their violent means of resistance," said the 48-year-old Booker Prize winner.
Arundhati drew a lot of flak for the reported comments, especially after the Dantewada Naxal attack claiming lives of 76 security personnel for calling Naxals as 'Gandhians with Guns'.
"I in fact have also written a letter in the next issue of the same magazine which carried my article, 'Walking With The Comrades' clarifying my point and stand, she said addressing a lecture 'The War on People' organised by the Committee for Protection of Democratic Rights here on Wednesday.
Arundhati Roy - Wikipedia, the free encyclopedia
Suzanna Arundhati Roy (born 24 November 1961) is an Indian writer who writes in English and an activist who focuses on issues related to social justice and ...
en.wikipedia.org/wiki/Arundhati_Roy - Cached - SimilarArundhati Roy - Booker Prize winner from Kerala,India
2 Apr 2003 ... A site about Arundhati Roy, the booker prize winner from India with pictures of Kerala where the novel 'God of Small Things' is set.
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A collection of links to Roy''s published non-fiction.
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Born in 1961 in Bengal, Arundhati Roy grew up in Kerala. She trained as an architect at the Delhi School of Architecture, but abandoned the field and became ...
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Salon magazine: The Salon Interview: Arundhati Roy. The author of 'The God of Small Things' talks about India, the obscenity charge she faces and how ...
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13 Apr 2010 ... Raipur: The Chhattisgarh police confirmed that they were investigating a complaint filed against award-winning writer Arundhati Roy for ...
www.thehindu.com/2010/04/13/stories/2010041362811300.htm - CachedArundhati Roy - Wikiquote
22 Mar 2010 ... From Wikiquote. Jump to: navigation, search. Arundhati Roy (b. November 24, 1961) Indian Author and Social Activist ...
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The HinduArrest me for speaking for Naxals: Arundhati - 3 hours ago
PTI Mumbai: Arundhati Roy probably gets lot of hate mail for her views on Naxalism but she certainly won't miss any opportunity to express them. ...IBNLive.com - 30 related articles »
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Indian Public sector disinvestment
Read more at Suite101: Indian Public sector disinvestment http://www.suite101.com/article.cfm/business_in_india/10326#ixzz0pnsA4so1
The Government of India is selling its holdings in the companies promoted by it. These companies, known as public sector companies, were promoted by the government for economic development and social justice. Theoretically, the intentions of setting up these companies were good. In practice most of these companies became a drag on the exchequer.
Even though these companies enjoyed monopolies in their respective fields, the financial position of the majority of these companies are far from satisfactory. Inefficiency and corruption are common and they owe their existence to the directionless economic policies followed by the congress governments.
The late eighties saw a changes in economic polices and this was immediately reflected in government policy regarding the public sector units. The policy makers felt that there was no point in supporting public sector units that are counterproductive to the economic growth of the country.
It was also felt that government funds in these companies by way of share capital can be better utilized if taken out. This formed the basis of the public sector disinvestment programs. It is also true that the present government is going blindly on the disinvestment program just to bridge the budgetary gap.The annual budget presented by the finance minister includes income from disinvestment. The actual funds generated from disinvestment invariably falls behind the governemnt targets.
There are many who want to take maximum benefit of the disinvestment process Take the case of SEBI (Securities and Exchange Board of India. It advises the government on the need for PSU disinvestment in the local market as compared to overseas markets. This would boost the primary market and also stop the ownership of these blue chips from being transferred abroad. The regulator does not favour selling PSU stocks through the GDR route at the expense of the domestic market. "There is no problem of demand in the domestic market for the top ten PSUs," sources in Sebi said.
It is the government's view that a portion of divestment should be earmarked for the small investor. Some even believe in a capital market revival on the basis of the return of the small investor. The thinking within government is that since only institutional investors partake in the private placement market, it would be a good means of ascertaining the "right price."
The present government is presenting a very optimistic picture. The disinvestment target was pegged at Rs 5,000 crore (Rs 100crore = Rs 1 billion). Government sources now say that disinvestment may net Rs 6,000 crore (Rs 100 crore = Rs 1 billion) just from the sale of equity in four PSUs - Indian Oil , Gas Authority of India Ltd, Videsh Sanchar Nigam Ltd and Container Corporation of India Ltd - for which cabinet clearance has already been obtained and the lead managers too are in place.
Read more at Suite101: Indian Public sector disinvestment http://www.suite101.com/article.cfm/business_in_india/10326#ixzz0pnrlBb8w
US institutions to partner for proposed innovation varsities
NEW DELHI: US varsities are likely to extend their expertise in setting up of some of the innovation universities in India and one such collaboration would be announced during the visit of US President Barak Obama to the country later this year.This was discussed at a meeting between HRD Minister Kapil Sibal and US Secretary of State Hillary Clinton in Washington today, an official release said.
According to sources here, Massachusetts Institute of Technology could partner with the government for setting up an innovation university in energy sector. Further talks would be held with MIT on the matter, sources said.
Sibal told Clinton that India will set up 14 such universities which will concentrate on specific areas.
Seeking for collaboration between institutions, Sibal recalled how India and USA had come together to establish world class institutions like IIT-Kanpur 50 years ago. Though the nature of cooperation is different, there is great opportunity for the two countries to work together to create centres of excellence, he said.
Sibal said the two sides could partner in setting some of these Universities, one of which could be announced during Obama's India visit.
The HRD minister also took up with Clinton the matter of setting up an India-US Education Council which will work for furthering bilateral relations in education between the two countries.
During his meeting, Sibal discussed wide-ranging issues relating to bilateral cooperation in the field of education.
The council will have academics, entrepreneurs and government representatives as members and it will coordinate the moving forward of ties in education sector.
The areas of collaboration that the two sides are looking at include research, distant education, vocational education, skill development, exchange of faculty, models of public private partnership and also expertise for the setting up of universities.
The two leaders also discussed the use of ICT in enhancing the Teaching-learning capabilities, research collaboration Biosciences, nano-sciences and other spheres.
Clinton expressed keen interest in India's vision of building an educated and skilled society and suggested collaboration in areas of skill development as well, particularly through community colleges. Clinton also welcomed the proposal of India-US Education Council.
Earlier during the day, Sibal met Arne Duncan, Secretary Education and shared his vision of education particularly reforms in education sector.
Rs 200 cr scholarship scheme for 13.63 lkh Mah tribal students
Taking a cue from Rajasthan and Kerala, Maharashtra Government has decided to implement a Rs 200 crore pre-matric scholarship programme for 13.63 lakh tribal students in the state, beginning this academic year.The ambitious programme entails an annual expenditure of Rs 200 crore and is aimed at encouraging more tribals to educate their children and render financial assistance to children of tribals, a senior official said.
"Pre Matric scholarship will be sanctioned to the tribal students studying in Class I to X, whose parent/guardian's income is below Rs 1.08 lakh per annum," Principal Secretary, Tribal Development, P S Meena said.
Students from Class I to IV will get Rs 1000 per annum, V to VII Rs 1500 per annum and VIII to X class Rs 2,000 per annum.
The scholarship won't be applicable for children of employees of state government and its corporations, the official said.
The scheme, approved by the state cabinet, has been christened 'Golden Jubilee Pre-Matric Scholarship' for tribal students to mark the state completing 50 years of establishment this year, Meena said.
The scheme would help augment family income of tribals and wean away children from child labour, the bureaucrat said.
The percentage of school dropouts among tribal students will decrease considerably following implementation of the scheme and would help Maharashtra implement the Right to Education Act effectively, Meena said.
Education sector may double to $50 bn by 2015: Assocham
The size of the education sector may double to USD 50 billion by 2015 with the rise in government expenditure along with an increase in middle-class income, an industry chamber study has said.At present, the size of the education sector is pegged at USD 25 billion, said an Assocham study.
"The government is planning to spend about 5 per cent of GDP in the next five years on education," it said and noted that the middle-class has started spending more on education and no longer considers it an expense.
Since 2008, about 55 per cent of the country's middle- class households have started saving for higher education of their children compared to about 20 per cent in 2007, the study said.
The chamber, however said, except some select universities and institutions, bulk of the government and private institutions impart higher education, which lacks quality. Therefore, quality education needs to be encouraged for which investments would be forthcoming.
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PM hints at PSU disinvestment in Budget 2009-10 - Economy and ...
28 May 2009 ... "Fiscal prudence and disinvestment of public sector units -- all these issues ... A host of companies waiting for the government nod for disinvestment ... cleared the disinvestment of NHPC and Oil India but could not tap ...
www.livemint.com/.../PM-hints-at-PSU-disinvestment.html - Cached - Similar Public Sector Disinvestment: A Greedy Government? - India ...
22 Apr 2010 ... LIC's equity drive is not just for public sector companies. .... In India, the finance minister is using disinvestment to balance his books. ...
knowledge.wharton.upenn.edu/india/article.cfm?articleid=4469 - CachedDisinvestment - Finance - Sectors: National Portal of India
The disinvestment of Government equity in Central Public Sector ... Public sector companies and nationalized banks will be encouraged to enter the capital ...
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28 Jan 2010 ... The government wants profitable listed public-sector companies, ... the complete list as provided by Bloomberg here Disinvestment In India ...
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1138 reads. Analysis of Disinvestment in India 524 reads. Analysis of Disinvestment in India 1918 reads. Disinvestment of Equity Shares in Public Sector ...
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28 May 2009 ... Cartoon Gallery · fe500 - India's Finest Companies ... "Fiscal prudence and disinvestment of public sector units -- all these issues will be ...
www.financialexpress.com/...psu-disinvestment.../467455/ - United States - CachedIndian Public sector disinvestment
- 7:25amThese companies, known as public sector companies, were promoted by the ... Permission to republish Indian Public sector disinvestment in print or online ...
www.suite101.com/article.cfm/business_in_india/10326 - Cached - SimilarCompanies to be disinvested? | Indianprofits.com
19 May 2009 ... Indian Stock Market News and Views. Follow me on TwitterRSS Feeds ... Rating: 0 (from 2 votes). Companies to be disinvested? , 6.5 out of 10 based on 2 ratings ... IPO's for 2009 – PSU companies | Indianprofits.com ...
indianprofits.com/companies-to-be-disinvested - Cached - SimilarPSU disinvestment to be the flavor of the year | Indian Stock ...
29 Jun 2009 ... The government is already planning to announce a disinvestment of government stake in public sector companies (PSUs) in the annual budget. ...
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PSU Disinvestment- Need for Guidelines and Accounting Standards
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Government of India or a proposal made by the. Disinvestment Commission and clearance of the ... company, and the PSU Itself have to comply the require- ...
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Selloff lineup gets longer, but cos want proceeds for own use
Economic Times - 15 hours agoThe two companies have reported net profits in the last three years, ... plans to raise from stake sale in Coal India Ltd. The department of disinvestment ...Disinvestment norms for public sector eased
Sify - 26 May 2010Some other companies that are expected to come to the market are Engineers India, Steel Authority of India and Coal India.PSU divestment nod will come with names of merchant bankers - Economic Times
PSU share sale put on fast track, approval simplified - mydigitalfc.com
CCEA nod for early appointment of merchant bankers for disinvestment - NetIndian
all 29 news articles »
Govt mulls part follow-on offer, part divestment in SCI
Moneycontrol.com - 2 days agoHe also said that none of the other public sector units under the aegis of the Shipping Ministry are being considered for disinvestment as of now. ...Partial stake-sale in Shipping Corporation likely - Daily News & Analysis
SCI divestment likely to involve FPO, fresh equity - Financial Express
all 17 news articles »
Coal India IPO delayed as govt sits on nod
Daily News & Analysis - Pooja Sarkar - 1 day ago
A senior official with the public sector undertaking who did not wish to be ... book running lead managers, the company's valuation is about $40 billion. ...Coal India Said to Delay Nation's Largest Offering - BusinessWeek
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Betting on a pleasant political weather
Financial Express - 4 days agoBirla Sun Life Mutual Fund recently launched India Reforms Fund, an open ended ... PSU companies coming with IPOs (reforms of disinvestment) and so on. ...Policy, Initiatives and Achievements of the Ministry of Steel ...
Press Information Bureau (press release) - 3 days agoØ As Steel PSUs are amongst the commercially viable and profit making companies they have been amongst those short listed for disinvestment by government. ...Deepak Parekh blames greed for poor response to public issue
Economic Times - 3 days agoAsked about the 25 per cent mandatory public holding in listed companies, ... At present, most companies dilute just 10 per cent stake and the shares tend ...IPO failures? Deepak Parekh blames govt, cos - Rediff
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Govt may sell stake in 10 more PSUs, 40k cr target looks tough
Economic Times - 10 May 2010The department of disinvestment is pushing for stake sale in about 10 more public sector units. Coal India and Steel Authority of India are the only big ...Europe's debt crisis could be India's gain - Equitymaster.com
all 4 news articles »Highlights of the Report to the People 2009-10
India Infoline.com - 1 day ago502 public sector bank branches were opened in 2009-10 (upto December 2009) ..... The National Aviation Company of India Ltd (NACIL) is being restructured. ...India to Pay Brokers for State Companies' Stock Sales
BusinessWeek - Kartik Goyal - Subramaniam Sharma - 26 May 2010
Engineers India shares rose 1.3 percent to 319.2 rupees in Mumbai. NTPC gained 1.3 percent to 195.2 rupees. The Bombay Stock Exchange's BSE-PSU Index of 54 ...India will pay fees to brokers to bolster demand for state shares - GulfNews
all 33 news articles »
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'Emerging markets are past the worst point'
3 Jun 2010, 2021 hrs IST,Bloomberg SINGAPORE: Developing-Nation stocks are probably "past the worst point" for the year because the global economy will avoid slipping back into recession, according to investor Antoine van Agtmael. "In terms of the economy, the next three quarters will be slower than the past two quarters, but no double dip," van Agtmael, chairman and chief investment officer of Emerging Markets Management, said in a Bloomberg Television interview from Washington. "In emerging markets, we are already past the worst point of this year." The MSCI Emerging Markets Index has dropped 8.7% since van Agtmael said on March 16 developing-nation shares were fairly valued and required a "breather" after last year's record rally. Easing global growth and the effects of Europe's debt crisis on exports and monetary policy mean there will be a "ceiling" on gains in emerging markets, said the investor, who coined the term "emerging markets" in 1981. He helps manage $13 billion at his Arlington, Virginia-based company. The current slowdown in China is also "expected", given the pace of recovery and efforts in all quarters to curb overheating in the property market, said van Agtmael. China's purchasing managers' index released on Tuesday showed manufacturing expanded at a slower pace than estimated in May, adding to concern that the world's third-largest economy may decelerate. China's Growth China won't be significantly hurt by the sovereign-debt problems in southern Europe because the nation is "too big" and its domestic economy is "too important", he said. "I don't think that the problems in southern Europe are going to do a huge economy like China in," he said in the interview. "If we were to see a true double dip, and I don't believe in a double dip, then obviously we would have a problem and things would slow down, not collapse, in China." Europe is China's biggest export destination, making up 20% of total overseas sales. European Union leaders unveiled an almost $1 trillion loan package last month to halt the slide in the euro and local bonds that threatened to shatter the currency union after Greece's budget deficit expanded to almost 14% of gross domestic product, exceeding the EU's 3% limit without penalty. The MSCI Emerging Markets Index fell 0.2% to 905.35 at 11:08 a.m. in Shanghai, extending the measure's decline this year to 8.5%, as signs of slowing growth in China and a spread in Europe's debt crisis hurt demand for riskier assets. Van Agtmael expects smaller markets in South-East Asia, Africa and the Middle East to perform better than Brazil, Russia, India and China, the four largest developing countries commonly known as BRICs, because they didn't rise as much last year and because investors are less familiar with those nations. | |
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Posted: 3 Jun, 2010, 1533 hrs IST
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'PSU divestment best way to carry out reform process'
PSU divestment is the best way for the Government to carry out the reform process — retaining control over the company but making it more accountable. Listing in the exchanges will improve corporate governance and create value for shareholders.
A. BALASUBRAMANIAN, CEO, BIRLA SUN LIFE MUTUAL FUND
M.V.S. Santosh Kumar
K. Venkatasubramanian
Highly insightful and extremely affable — that's Mr A. Balasubramanian for you. The CEO of Birla Sun Life Mutual Fund spoke to Business Line on the sidelines of the launch of the AMC's India Reforms new fund offer. Bala, as he is popularly known, explained the new fund's theme and shared his opinion onother issues such as disinvestment, the possible direction for the broad markets and the mutual fund industry.
Excerpts from the interview:
What are the reforms you anticipate in the immediate future?
Financial sector reforms such as FDI in the retail and insurance sectors will gain more prominence. The power sector and rural infrastructure will also, in our view, receive greater thrust. The funding pattern is clearly changing and the availability of land to operators is also being ensured by State governments.
Of course, there must be earnings visibility for companies and shareholders after these reforms. Telecom is a sector where there have been reforms (3G auction). But the sector as a whole does not have earnings visibility and may not present money-making opportunities.
Is the way we are positioning disinvestment flawed, in the sense that the government seems to be saying 'we have a deficit, so we are selling assets to bridge it' rather than seeing it as a strategic asset sale that could create wealth?
Fiscal deficit can be addressed in two ways. One is increasing tax revenues. Increasing taxes may not bring our economy the necessary benefits. This is because it will not encourage spending from consumers and the consumption-led theme will not gain momentum as it will not put more money in the hands of people.
Having said that, for India, with its high fiscal deficit, we need to move to a different platform and make a one-time correction.
PSU divestment, in my view, is the best way for the Government to carry out the reform process without losing control over the company; this will make them more accountable, and listing in the exchanges will improve corporate governance. It also improves operating efficiency; profitability goes up and creates value for shareholders. Funding of any future expansion of these companies can be done through the capital markets and not by the government. This creates wealth for the government and all shareholders.
Is disinvestment crowding out other IPOs?
Crowding out is only a function of sentiment in the market. Everything depends on the attractiveness of the issue price, the business and its sustainability. There must be visibility in terms of generating profits for these companies. Is there money in the system to support these IPOs? In our view there is lot of money in the system, which can flow into the capital market through the IPO route.
What is the possibility of a rating upgrade for India on the back of the improved fiscal deficit?
The probability of rating upgrade is very high because if you look at the 3G auction alone, it is more than what the government expected. If it is also able to meet the PSU divestment target of Rs 40,000 crore by this year, the fiscal deficit targets will be surpassed by the government. We also expect corporate earnings to be supportive, which means that tax revenues may also be buoyant. If these three factors work, then why should not S&P look at upgrading India?
Mid-caps trade at a discount to large-caps. To that extent do you see them outperforming, or do you think that gulf will remain?
It is very difficult to say. Our belief is some of the mid-cap companies would become large-caps.
That means that discount will be a function of what size and scale they operate at, what kind of earnings they provide and, third, what kind of floating stock is available that would encourage more and more investors to participate. If these three factors become clear, then the discount will get narrowed.
Our belief is that in India mid-caps provide a huge opportunity. That is one space which offers entrepreneurial opportunities to people, and the government is increasingly becoming a facilitator by accelerating reforms.
Mid-caps will have earnings growth, but they will trade at a discount.
Individual companies may enjoy a premium, based on their ability to scale up.
Which sectors are expected to outperform going forward?
Our belief is that banking and financial services, engineering, construction and capital goods will do well. Private sector expansion could be the trigger for capital goods companies' growth. Today, private sector expansion is coming back only gradually.
For the last one-and-a-half years, it was government-led spending. Once we see private sector-led spending pick up, there will be order-book increases and expansion in margins for capital goods companies.
Some companies operating in this space did not have access to long-term funding. The government is now looking at the funding pattern so that operators can easily access funds for the long term.
We also believe that domestic pharma companies will continue to do well.
Auto, auto ancillaries and commercial vehicle manufacturers will be the biggest beneficiaries of the economic revival.
We are bullish on IT as well. It is only a question currency management and how companies are able to hedge.
But telecom will be weak; real-estate and textiles will probably be neutral.
Commodities rallied till early this year… Will there be a sharp correction?
The rally of commodities will depend on the demand and supply situation. One good thing in the last one or two years is that companies did not have to build capacity.
Crude is also behaving in an orderly manner. Though there may be speculative activity, it may not drive up prices. We are also not seeing a significant recovery across the markets globally.
We are not seeing something happening that could drastically alter the demand-supply situation.
Q. Equity funds have had a very small net inflow in FY10, much lower than small-savings schemes. Why have investors chosen to stay away in a rising market and moved to safety? Has the industry, so dependent on distributors, been affected by the removal of entry load?
Regulatory changes have made the business-model undergo a change for both the fund house as well as the distributor. Once a long-established model for distributors undergoes a change, there is bound to be a period where it remains slack.
At the end of the day, is there enough money in the system? Yes there is. Are people fully aware of investing in equity products for the long-term? They may or may not be. Because of this lack of awareness, the inflows have not been great. At the same time, as the distributor's business model was changing, the push they gave products was missing.
Despite all this, there have still been positive net inflows. But the quantum could have been greater.
My view is that Indian investors have lost the opportunity in the last 1.5-2 years while the global investors have put in money.
Indian investors have to realise that, instead of timing the market, they should look at investing in markets through ongoing, continuous SIPs and STPs for the purpose of long-term wealth creation.
Q. There has been a revival in the NFOs launched in recent months. Do you see that continuing, especially ones that target large sizes?
The way we see it is that NFOs help from two angles. One, in expanding the market. We can reach out to the mass population. Second, it also helps in waking up financial advisors who are not very active. NFOs inflow is also a function of what the gap is. Is the theme right? Is it reasonable? Is there a overlap, if so to what extent, and so on. I always look at it from the point of what is the difference between the existing schemes and the NFO. If it is more than 25-30 per cent, then it is worth launching. The whole of last year had few NFOs, as we did not see any merit in it.
For me the existing business is also very important and has to grow at 60-65 per cent. Every fund should have scale. Fund managers like more money in their schemes.
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Karnataka hopes signing MoUs worth Rs 3.5 lakh cr at GIM
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He said leading banks and other financial institutions have come forward to sign MoUs with the Karnataka government for providing loans and financial assistance to these investors.
Yeddyurappa said his government is developing software, hardware and aerospace parks near Bengaluru International Airport in about 3,000 acres.
"We also propose to develop an Information Technology Investment Region with an area of 10,000 acres in North Bangalore," he said.
The BJP government in Karnataka has projected the GIM, aimed at vigorously wooing private investment, as a major event of the two-year-old Yeddyurappa regime, holding roadshows in India and overseas in the run-up to the show.
GIM was inaugurated by the Leader of Opposition in Rajya Sabha, Arun Jaitley, who spoke about Karnataka's advantages in terms of a huge network of educational institutions, trained manpower and "reasonable infrastructure". Now the challenge is to convert the envisaged investment into reality, he said.
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Business News
Rs 23,500-cr chest to aid overseas acquisitions
HT - 10:55 AMWith cash reserves of $5 billion (Rs 23,500 crore) behind it, the next big acquisition by Mukesh Ambani-led Reliance Industries Ltd (RIL) is expected to be that of coal mines and minerals abroad.
- Mutual fund assets up Rs 34,500 cr HT - 09:05 AM
Even as investor sentiment remained weak in May, the mutual fund industry saw a rise in its average assets under management (AUM) by Rs 34,500 crore at Rs 805,239 crore. The surge was backed by institutional money.
- Tough choices HT - Wed, Jun 2
Planning to buy a new car here are few options for you, go for it. I am planning to buy a new car within a Rs 6.5 lakh-budget and I have shortlisted the Ford Figo diesel and the Maruti Swift VDi. Which makes a better buy in terms of space and performance? I drive around 1,300 km every month. S Kandan The Ford Figo diesel is the best diesel in its class today.
- Sensex falls 626 intra-day HT - Wed, Jun 2
A punching error on India?s most valued company, Reliance Industries Ltd (RIL), at the Bombay Stock Exchange (BSE) created a fright on Tuesday, as the BSE Sensex fell by over 400 points in a second to an intra-day loss of 626 points before recovering to close the day at 16,572, down 372 points.
- Michelin eyes India foray to beat global slowdown HT - Wed, Jun 2
French tyre maker Michelin is building capacities in the new regions of China, Brazil and eastern Europe to expand its global footprint, even as its India plans for a manufacturing site is gathering steam.
- FM to meet bank chiefs in Patna HT - Wed, Jun 2
Finance Minister Pranab Mukherjee will meet bank chiefs in Patna later this month as the government steps up efforts to spread banking services across remote districts of the country.
- Apollo Tyres enters Europe, eyes $2-bn turnover by 2012 HT - Wed, Jun 2
A year after it acquired Dutch tyre maker Vredestein, domestic tyre major Apollo Tyres on Tuesday launched its own range of products in Europe. The company, which aims to be be among the world?s top 10 tyre makers, is only the third Indian major automotive company after Tata Motors and Reva Electric to enter Europe.
- Sixth in a row: exports grow 36.2% in April HT - Wed, Jun 2
The country?s exports grew 36.2 per cent in April to $16.9 billion, recording a positive growth for the sixth successive month and triggering hopes that the worst might be over for embattled traders.
- Gold hits high at rs 19,000 for 10 gms HT - Wed, Jun 2
Though Asian markets plunged into a sea of red, the yellow metal continued to surge, touching a new high of Rs 19,050 per 10 grams on Tuesday. Experts say that since financial anxiety around Europe will continue in the short term, gold will continue to remain volatile with an upward bias.
- Euro-wary FIIs turn net sellers, flock to US bonds for safety HT - Tue, Jun 1
As the European crisis showed little signs of easing, foreign institutional investors (FIIs) turned wary on investments in equities, resulting in a net outflow of Rs 9,436 crore during the month. This was the biggest selling in a month since October 2008, when FIIs withdrew Rs 15,347 crore.
- Fledgling airlines set to spread wings over Gujarat HT - Tue, Jun 1
Low-cost, start-up airlines are eyeing the increasing air-traveller base in the expanding industrial towns of Gujarat.
- ONGC to develop KG fields alone if talks fail HT - Mon, May 31
The Oil and Natural Gas Corporation (ONGC) may explore the Krishna-Godavari (KG) offshore petroleum fields completely on its own if talks for a strategic partnership with multinational companies fail.
- Back to highs? All eyes on release of GDP data today HT - Mon, May 31
The government will announce the gross domestic product (GDP) growth estimates for 2009-10 on Monday as hopes of a sustained recovery in the Indian economy have sprung anew with a slew of recent numbers showing robust growth in most sectors, although prices remain a key concern.
- Canara in big push for north HT - Mon, May 31
Canara Bank is all set to strengthen its presence in North India. The Bank, which enjoys a client base of over 37 million and has a strong presence in South India, plans to open most of its 200 new branches this financial year in the north. The bank also plans to add around 1,650 employees in the fiscal year.
- StanChart IDR hit by timing: experts HT - Mon, May 31
While the first ever Indian depository receipts (IDR) issue from Standard Chartered managed an overall subscription of 2.2 times, thanks to help from qualified institutional buyers (QIBs), retail investors played shy despite the special five per cent discount offered to them. Overall, the retail portion of the IDR received barely 25 per cent interest.
- ONGC Q4 net zooms 71 per cent on better prices HT - Sat, May 29
State-owned Oil and Natural Gas Corporation (ONGC) on Friday reported a 71 per cent increase in its net profit for the fourth quarter ended March 31 at Rs 3,776 crore, as against Rs 2,207 crore in the same period last year.
- Domestic market hoists SAIL profit by 40 per cent HT - Sat, May 29
Steel Authority of India Ltd (SAIL) on Friday reported an over 40 per cent jump in its net profit for the fourth quarter ended March 31 at Rs 2,085 crore, as against Rs 1,485 crore in the corresponding quarter of the previous year.
- IOC Q4 net dips 16 per cent on oil bond vagaries HT - Sat, May 29
Indian Oil Corp?s (IOC?s) fourth-quarter net profit tumbled 16 per cent to Rs 5,557 crore from Rs 6,623 crore in the corresponding period of the previous year. However, the company?s profit for the fiscal year 2009-10 recorded a 246 per cent jump to Rs 10,220 crore.
- RIL strikes 'significant' oil in Gujarat block HT - Sat, May 29
Reliance Industries Ltd (RIL) has announced an oil discovery, the fifth in a row, in its Cambay basin block in Gujarat. However, RIL did not give reserve estimates other than calling the discovery as ?significant.?
- Reliance Power buys Reliance Infra assets HT - Sat, May 29
Anil Dhirubhai Ambani Group (ADAG) firm Reliance Power Ltd on Friday announced the acquisition of 433 MW (megawatt) of power generation assets from group company Reliance Infrastructure for Rs 1,095 crore.
Business News
Australia shares end up 2.4 per cent
FE - 12:28 PMAustralian stocks broke a three-day losing streak to close 2.4 per cent firmer, heartened by encouraging U.S. economic data and bargain hunting in beaten-down banks and resource stocks.
- Taiwan stocks end 2 pct up FE - 12:28 PM
Taiwan stocks ended 2.3 per cent higher on Thursday, with technology shares such as Acer leading a rebound as U.S. housing data fuelled optimism about the world's largest economy and demand for technology.
- Sensex up 247 pts on global cues FE - 12:28 PM
The Bombay Stock Exchange benchmark Sensex surged by over 247 points in opening trade tracking firm global cues.
- RIL to offer 3G, WiMAX devices in mega splash FE - 12:28 PM
Five years after its exit from the country's booming telecom sector, Mukesh Ambani's Reliance Industries Ltd (RIL) is plotting the road map for a return trip.
- First round of bidding closes for Newsweek FE - 12:28 PM
A first round of bidding closed for Newsweek magazine amid feverish speculation over who will step forward to buy the money-losing publication.
- Food inflation surges to 16.55 pct FE - 12:28 PM
Food inflation rose 16.55 per cent in the year to May 22, while the fuel price index climbed 14.14 per cent, government data released on Thursday showed.
- UPL buys DuPont's fungicide business FE - 12:28 PM
Agrochemical firm United Phosphorus said it has bought the fungicide business of US-based chemical firm DuPont.
- Godrej buys Argentina-based Argencos FE - 12:28 PM
Godrej Consumer is still cruising on the overseas M&A highway. Personal care products maker Godrej Consumer Products Ltd said late on Tuesday it has acquired the entire equity stake in Argentina-based hair care firm Argencos SA, its second acquisition in Latin America in less than two weeks.
- A powerful shine for Gold ETFs FE - 12:28 PM
Gold is no longer a seasonal performer, it is one of the safest and profitable investment opportunities.
- Godrej up 7 pct on Argentinian acquisition FE - 12:28 PM
FMCG major Godrej Consumer Products surged 7.56 per cent on the BSE, a day after the company announced the acquisition of Argentinian hair-care company Argencos.
- Rupee appreciates to 46.59 against dollar FE - 12:28 PM
The Indian rupee appreciated by 39 paise to 46.59 a dollar in early trade on Thursday on the back of fresh capital inflows by foreign funds into equities and the dollar's loss against other Asian currencies.
- RComm shares rise more than 3 pct FE - 12:28 PM
Shares in No. 2 telecom firm Reliance Communications rose more than 3 per cent on Thursday after a report it was considering a merger with South Africa's MTN or roping in a strategic foreign investor to raise funds.
- Buffett fails to wow crisis panel on credit raters FE - 12:28 PM
The Oracle of Omaha, for once, may have failed to impress his audience. Warren Buffett, the billionaire whose investments are followed religiously on Wall Street, had no easy remedies when grilled on Wednesday about the role of credit rating agencies in fueling the financial crisis.
- Bullied to give rosy ratings: Moody's Analysts FE - 12:28 PM
Former Moody's analysts say they felt pressure from bosses obsessed with market share to assign rosy ratings to risky debt products, while the company's current chief executive defended the rating agency's business model, according to testimony released on Wednesday.
- Nirupam Sen owns up Nano project failure FE - 12:28 PM
With production at the Tata Motors Nano factory at Sanand in Gujarat starting on Wednesday, West Bengal minister for commerce and industries Nirupam Sen admitted that the final responsibility for the death of the project in West Bengal lay with the government.
- Titan eyes five-fold hike in its overseas business FE - 01:58 AM
Titan Industries Ltd is aiming at a five-fold increase in its overseas business to Rs 500 crore over the next five years, while expecting its overall revenue to touch Rs 14,000 crore by 2014-15 from Rs 4,500 crore at present, managing director Bhaskar Bhat said.
- Fears of tough entry rules fuel stampede for channel licences FE - 01:58 AM
Enough isn't enough when it comes to the mushrooming of TV channels in India. Aspirants for new channel licences are making a beeline for the Information & Broadcasting ministry, on fears that the soon-to-be-implemented entry norms for broadcasting from the Telecom Regulatory Authority of India (Trai) could scupper their chances.
- RBI to roll out records mgmt policy soon FE - 01:58 AM
The RBI will soon roll out an Archival and Records Management Policy. The RBI governor D Subbarao said the committee of the central board of directors had approved it and it will be rolled out and implemented soon.
- India, Seychelles ink treaty to promote investments FE - 01:58 AM
The bilateral investment promotion and protection agreement (BIPA) with India will give a strong fillip to investment in a range of sectors in the Seychelles economy, said Seychelles President James Alix Michel, who is on a three-day tour to India.
- Auto majors rule out price hike for now FE - 01:58 AM
Domestic carmakers such as Maruti Suzuki, Hyundai Motor India and GM India have decided not to increase prices for now in spite of increasing input costs and soaring monthly sales on year-on-year basis.
Business News
Asia's Weirdest High-Paying Jobs
Forbes - Mon, May 10Hana R. Alberts and Jennifer Cheung, Forbes.com
Who would have thought working under the sea would be so lucrative?
- Billionaires By Age: Who Got Rich How Young? Forbes - Thu, May 6
Steven Bertoni, Forbes.com
Want to make the Forbes 400 list of the Richest Americans before you're 35? You'd better be good with computers. - CEOs' Looks Affect Their Compensation Forbes - Thu, May 6
Duke study finds execs whose faces look ''competent'' get paid more. Baby-faced CEOs are penalized.
- China's Best Business Schools Forbes - Tue, May 4
Russell Flannery and Chloe Chen, Forbes.com
Business schools in Beijing dominated the top ranks of a new survey of mainland China's best business schools conducted by Forbes China, the Chinese-language licensed edition of Forbes magazine. - Buffett Stocks For the Lazy Man Forbes - Tue, May 4
Mebane Faber, Forbes.com
Picking stocks is hard. Academic research has shown that most individuals and professionals underperform their benchmark indexes. - The World's Most Popular Cars Forbes - Thu, Apr 29
Joann Muller, Forbes.com
One of the ways Toyota Motor has climbed to the top of the global auto industry is by keeping it simple: Models like the Corolla, Camry and Yaris sell in Asia, Europe and North America, with minor modifications to meet local regulations. - Can This Bicycle Save Lives In Africa? Forbes - Thu, Apr 29
F.K. Day designed a better machine for the developing world--then set out to teach people how to make it for themselves.
- Can China Save GM? Forbes - Thu, Apr 29
Joann Muller, Forbes.com
On the congested streets of Shanghai, where drivers pay no heed to painted lane stripes, Buicks jockey for position with Toyotas, Audis and Volkswagens, honking as they maneuver through traffic made worse by the city's frenetic development. - Google And 10 Chinese Web Brothers Forbes - Tue, Apr 6
Miriam Marcus, Forbes.com
As Google's departure from China looms nearer, Internet and China bulls are looking for alternative ways to invest in what is widely viewed as the fastest growing online market in the world.
Bussiness News
Honda says China factories back to work Friday, AS
AP - 10:18 AMBEIJING (AP) Honda Motor Co. says it will resume production Friday at four assembly plants in China after employees at a parts factory ended a strike over pay but said some might walk out again to press for more money.
- Taiwan president faces hurdles in key China deal, 1st Ld-Writethru, AS AP - 09:32 AM
TAIPEI, Taiwan (AP) Taiwanese President Ma Ying-jeou is facing domestic and Chinese hurdles in his pursuit of a key China trade pact that could bring about the closest relations between the longtime rivals since their split amid civil war in 1949. Recent public polls have suggested Taiwanese people are divided about the pact, which could dramatically alter Taiwan's future.
- Honda to resume car production in China, AS AP - 09:27 AM
TOKYO (AP) Honda Motor Co. says it will resume production in China after workers on strike at an auto parts factory returned to work.
- GM, Ford report record May sales in China, AS AP - 07:04 AM
BEIJING (AP) General Motors Co. and Ford Motor Co. reported double-digit growth in China sales in May and new monthly records.
- China begins trial of energy tax in oil region, 2nd Ld-Writethru, AS AP - 06:07 AM
BEIJING (AP) China has imposed a tax on oil and gas production in its northwestern Muslim region of Xinjiang in a move to raise money for poor minority areas and possibly ease public anger at the wealth of government energy companies.
- 04:42 AM
SINGAPORE (AP) Oil prices rose above $74 a barrel Thursday in Asia after a report showed U.S. crude inventories fell more than expected, suggesting consumer demand is growing. Benchmark crude for July delivery was up $1.39 at $74.25 a barrel at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange. The contract rose 28 cents to settle at $72.
- Oil rises to near $74 as US crude supplies drop, 7th Ld-Writethru AP - 04:42 AM
SINGAPORE (AP) Oil prices rose to near $74 a barrel Thursday in Asia after a report showed U.S. crude inventories fell more than expected, suggesting consumer demand is growing.
- World markets up strongly after gains in the US, 1st Ld-Writethru AP - 02:46 AM
BANGKOK (AP) World stock markets jumped Thursday after gains on Wall Street triggered by strong housing figures gave investors enough confidence to snap up riskier assets like shares following a monthlong slide.
- Asian shares up strongly after gains in the US, 7th Ld-Writethru AP - 02:46 AM
TOKYO (AP) Most Asian stock markets jumped Thursday, following gains on Wall Street after strong housing figures and a recovery in energy stocks.
- Taiwan urges China not to block trade agreements, AS AP - Wed, Jun 2
TAIPEI, Taiwan (AP) Taiwanese President Ma Ying-jeou urged China on Wednesday not to prevent the island from making free trade agreements with other partners, a day after Beijing said it strongly opposes any official treaties negotiated by Taipei.
- Honda says China factory back to work after strike, AS AP - Wed, Jun 2
BEIJING (AP) Honda Motor Co. said a key parts factory in China resumed full operation Wednesday following a two-week strike over wages that forced Honda to halt production at four assembly plants.
- Oil near $72 as economy concerns drag on optimism AP - Wed, Jun 2
SINGAPORE (AP) Oil prices slipped to near $72 a barrel Wednesday in Asia as flagging investor optimism about the global economy drags down stocks and commodities.
- World stocks lower, 1st Ld-Writethru AP - Wed, Jun 2
BANGKOK (AP) World stocks were mostly down Wednesday as Europe's debt woes continued to undermine confidence and after a fall on Wall Street connected to the massive oil spill in the Gulf of Mexico.
- Asian shares mixed on Japan, US cues AP - Wed, Jun 2
SINGAPORE (AP) Asian stocks were mixed Wednesday after a fall on Wall Street and amid news Japanese Prime Minister Yukio Hatoyama is resigning after just eight months as the nation's leader.
- Australian economy slows in first quarter, AS AP - Tue, Jun 1
CANBERRA, Australia (AP) Australia's economy slowed in the first quarter as a government scheme to construct a new building in every school papered over a drop in business spending.
- Australia leaves key interest rate at 4.5 percent, AS AP - Tue, Jun 1
SYDNEY (AP) Australia's central bank left its key interest rate unchanged at 4.5 percent Tuesday, citing increased caution among investors in the wake of Europe's sovereign debt crisis.
- China to pay subsidies for EVs, plug-in hybrids, AS AP - Tue, Jun 1
SHANGHAI (AP) China has begun paying subsidies of up to 60,000 yuan ($8,784) a car to manufacturers of electric and hybrid vehicles on a trial basis in five cities, the Ministry of Finance said Tuesday.
- AIG won't accept revised Prudential offer for AIA, AS AP - Tue, Jun 1
BANGKOK (AP) U.S. insurer AIG says it won't accept a lower offer for its Asian insurance business from Prudential, potentially scuttling the multibillion dollar deal.
- AIG says won't accept revised Prudential bid for Asian insurance business., AS AP - Tue, Jun 1
BANGKOK (AP) AIG says won't accept revised Prudential bid for Asian insurance business.
- Oil falls to near $72 as stocks, euro fall AP - Tue, Jun 1
SINGAPORE (AP) Oil prices tumbled to near $72 a barrel Tuesday in Asia as weakness in global stocks and the euro dragged on appetite for crude.
Business News
Taiwan stocks end 2 pct up
IE - 02:12 PMTaiwan stocks ended 2.3 per cent higher on Thursday, with technology shares such as Acer leading a rebound as U.S. housing data fuelled optimism about the world's largest economy and demand for technology.
- RComm shares rise more than 3 pct IE - 02:12 PM
Shares in No. 2 telecom firm Reliance Communications rose more than 3 per cent on Thursday after a report it was considering a merger with South Africa's MTN or roping in a strategic foreign investor to raise funds.
- UPL buys DuPont's fungicide business IE - 02:12 PM
Agrochemical firm United Phosphorus said it has bought the fungicide business of US-based chemical firm DuPont.
- India services growth slows to 58.2 in May IE - 02:12 PM
Business activity among Indian services firms expanded for the 13th consecutive month in May, but at a slower pace than in April, as growth in business expectations and prices charged ebbed, a survey showed.
- Godrej up 7 pct on Argentinian acquisition IE - 02:12 PM
FMCG major Godrej Consumer Products surged 7.56 per cent on the BSE, a day after the company announced the acquisition of Argentinian hair-care company Argencos.
- Rupee appreciates to 46.59 against dollar IE - 02:12 PM
The Indian rupee appreciated by 39 paise to 46.59 a dollar in early trade on Thursday on the back of fresh capital inflows by foreign funds into equities and the dollar's loss against other Asian currencies.
- Sensex up 247 pts on global cues IE - 02:12 PM
The Bombay Stock Exchange benchmark Sensex surged by over 247 points in opening trade tracking firm global cues.
- Bullied to give rosy ratings: Moody's Analysts IE - 02:12 PM
Former Moody's analysts say they felt pressure from bosses obsessed with market share to assign rosy ratings to risky debt products, while the company's current chief executive defended the rating agency's business model, according to testimony released on Wednesday.
- Buffett fails to wow crisis panel on credit raters IE - 02:12 PM
The Oracle of Omaha, for once, may have failed to impress his audience. Warren Buffett, the billionaire whose investments are followed religiously on Wall Street, had no easy remedies when grilled on Wednesday about the role of credit rating agencies in fueling the financial crisis.
- First round of bidding closes for Newsweek IE - 02:12 PM
A first round of bidding closed for Newsweek magazine amid feverish speculation over who will step forward to buy the money-losing publication.
- Godrej buys Argentina-based Argencos IE - 02:12 PM
Godrej Consumer is still cruising on the overseas M&A highway. Personal care products maker Godrej Consumer Products Ltd said late on Tuesday it has acquired the entire equity stake in Argentina-based hair care firm Argencos SA, its second acquisition in Latin America in less than two weeks.
- Food inflation surges to 16.55 pct IE - 02:12 PM
Food inflation rose 16.55 per cent in the year to May 22, while the fuel price index climbed 14.14 per cent, government data released on Thursday showed.
- HDFC 'too tired' to do BOR deal IE - 02:12 PM
HDFC Chairman Deepak Parekh has said that the group "thankfully" did not look at acquiring Bank of Rajasthan, as it is yet to overcome the pressures of previous takeovers.
- Australia shares end up 2.4 per cent IE - 02:12 PM
Australian stocks broke a three-day losing streak to close 2.4 per cent firmer, heartened by encouraging U.S. economic data and bargain hunting in beaten-down banks and resource stocks.
- A powerful shine for Gold ETFs IE - 02:12 PM
Gold is no longer a seasonal performer, it is one of the safest and profitable investment opportunities.
- Woman fired by Citi for being 'hot'! IE - 02:12 PM
Sexist mindset still rules even the biggest corporates in the world. A female employee of Citibank was apparently fired from her job because her male colleagues found her 'too distracting'.
- Ranbaxy scion unlikely to relent in Parkway battle IE - 02:12 PM
This time the surprise is on Malvinder Singh. Two years ago, Singh and his brother Shivinder sold their controlling stake in Ranbaxy Laboratories, a leading Indian drugmaker built by their grandfather, to Japan's Daiichi Sankyo -- an unlikely move in a country where families rarely sell.
- Shree Renuka's Brazil takeover in trouble? IE - 02:12 PM
Just months after saying it will be buying a majority stake in a Brazilian company, India's Shree Renuka Sugars Ltd said on Thursday it is renegotiating the deal.
- Briefly business IE - 04:37 AM
FM leaves for G-20 ministerial in Korea
New Delhi: Finance minister Pranab Mukherjee is leaving on Wednesnight for South Korea to attend the two-day G-20 ministerial which is expected to discuss the ongoing European financial crisis and other issues. - Coal India to buy into five mines overseas IE - 04:37 AM
With Prime Minister Manmohan Singh's office asking the state-run behemoths to intensify their efforts to acquire overseas coal properties to feed their plants, navratna company Coal India Limited (CIL) is all set to acquire stakes in at least five coal mines in the USA, Australia and Indonesia within the next two months with an estimated investment of nearly Rs 8,000 crore.
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Arundhati Roy
From Wikipedia, the free encyclopedia
| Arundhati Roy | |
|---|---|
 Arundhati Roy speaking at the 2007 World Tribunal on Iraq. | |
| Born | 24 November 1961 (1961-11-24) Shillong, Meghalaya, India |
| Occupation | Novelist, essayist |
| Nationality | Indian |
| Period | 1997-present |
| Notable work(s) | The God of Small Things |
| Notable award(s) | Booker Prize 1997, Sydney Peace Prize 2004 |
Suzanna Arundhati Roy (born 24 November 1961) is an Indian writer who writes in English and an activist who focuses on issues related to social justice and economic inequality. She won the Booker Prize in 1997 for her novel, The God of Small Things, and has also written two screenplays and several collections of essays.
For her work as an activist she received the Cultural Freedom Prize awarded by the Lannan Foundation in 2002.
Early life and background
Arundhati Roy was born in Shillong, Meghalaya,[1] India, to a Keralite Syrian Christian mother, the women's rights activist Mary Roy, and a Bengali father, a tea planter by profession.
She spent her childhood in Aymanam in Kerala, and went to school at Corpus Christi, Kottayam, followed by the Lawrence School, Lovedale, in Nilgiris, Tamil Nadu. She then studied architecture at the School of Planning and Architecture, New Delhi, where she met her first husband, architect Gerard da Cunha.
Roy met her second husband, filmmaker Pradip Krishen, in 1984, and played a village girl in his award-winning movie Massey Sahib. Until made financially stable by the success of her novel The God of Small Things, she worked various jobs, including running aerobics classes at five-star hotels in New Delhi. Roy is a cousin of prominent media personality Prannoy Roy, the head of the leading Indian TV media group NDTV,[2]. She lives in New Delhi.
Career
Literary career
Early career: screenplays
Early in her career, Roy worked for television and movies. She wrote the screenplays for In Which Annie Gives It Those Ones (1989), a movie based on her experiences as a student of architecture, directed by her current husband, and Electric Moon (1992); in both she also appeared as a performer. Roy attracted attention in 1994, when she criticised Shekhar Kapur's film Bandit Queen, based on the life of Phoolan Devi. In her film review titled, 'The Great Indian Rape Trick', she questioned the right to "restage the rape of a living woman without her permission," and charged Kapur with exploiting Devi and misrepresenting both her life and its meaning.[3][4]
The God of Small Things
Roy began writing her first novel, The God of Small Things, in 1992, completing it in 1996.[5] The book is semi-autobiographical and a major part captures her childhood experiences in Aymanam.[1]
The publication of The God of Small Things catapulted Roy to instant international fame. It received the 1997 Booker Prize for Fiction and was listed as one of the New York Times Notable Books of the Year for 1997.[6] It reached fourth position on the New York Times Bestsellers list for Independent Fiction.[7] From the beginning, the book was also a commercial success: Roy received half a million pounds as an advance;[4] It was published in May, and the book had been sold to eighteen countries by the end of June.[5]
The God of Small Things received stellar reviews in major American newspapers such as The New York Times (a "dazzling first novel,"[8] "extraordinary," "at once so morally strenuous and so imaginatively supple"[9]) and the Los Angeles Times ("a novel of poignancy and considerable sweep"[10]), and in Canadian publications such as the Toronto Star ("a lush, magical novel"[11]). By the end of the year, it had become one of the five best books of 1997 by TIME.[12] Critical response in the United Kingdom was less positive, and that the novel was awarded the Booker Prize caused controversy; Carmen Callil, a 1996 Booker Prize judge, called the novel "execrable," and The Guardian called the contest "profoundly depressing."[13] In India, the book was criticized especially for its unrestrained description of sexuality by E. K. Nayanar,[14] then Chief Minister of Roy's homestate Kerala, where she had to answer charges of obscenity.[15]
Later career
Since the success of her novel, Roy has been working as a screenplay writer again, writing a television serial, The Banyan Tree,[citation needed] and the documentary DAM/AGE: A Film with Arundhati Roy (2002).
In early 2007, Roy announced that she would begin work on a second novel.[4][16]
Arundhati Roy was one of the contributors on the book We Are One: A Celebration of Tribal Peoples, released in October 2009.[17] The book explores the culture of peoples around the world, portraying their diversity and the threats to their existence. The royalties from the sale of this book go to the indigenous rights organization Survival International.
Advocacy and controversy
Since The God of Small Things Roy has devoted herself mainly to nonfiction and politics, publishing two more collections of essays, as well as working for social causes. She is a spokesperson of the anti-globalization/alter-globalization movement and a vehement critic of neo-imperialism and of the global policies of the United States. She also criticizes India's nuclear weapons policies and the approach to industrialization and rapid development as currently being practiced in India, including the Narmada Dam project and the power company Enron's activities in India.
Support for Kashmiri separatism
In an interview with Times of India published in August 2008, Arundhati Roy expressed her support for the independence of Kashmir from India after massive demonstrations in favor of independence took place—some 500,000 separatists rallied in Srinagar in the Kashmir part of Jammu and Kashmir state of India for independence on 18 August 2008, according to Time magazine.[18] She took the rallies as a clear sign that Kashmiris desire independence from India, and not union with India.[19] She was criticized by Indian National Congress (INC) and Bharatiya Janata Party (BJP) for her remarks,[20] but along with Roy some mainstream Indian journalists, such as Vir Sanghvi (executive editor of the Hindustan Times),[21] Jug Suraiya (editor of the The Times of India),[22] and Swaminathan Aiyar (also at The Times of India),[23] have argued similarly.[24]
Sardar Sarovar Project
Roy has campaigned along with activist Medha Patkar against the Narmada dam project, saying that the dam will displace half a million people, with little or no compensation, and will not provide the projected irrigation, drinking water and other benefits.[25] Roy donated her Booker prize money as well as royalties from her books on the project to the Narmada Bachao Andolan. Roy also appears in Franny Armstrong's Drowned Out, a 2002 documentary about the project.[26] Roy's opposition to the Narmada Dam project was criticised as "maligning Gujarat" by Congress and BJP leaders in Gujarat.[27]
In 2002, Roy responded to a contempt notice issued against her by the Indian Supreme Court with an affidavit saying the court's decision to initiate the contempt proceedings based on an unsubstantiated and flawed petition, while refusing to inquire into allegations of corruption in military contracting deals pleading an overload of cases, indicated a "disquieting inclination" by the court to silence criticism and dissent using the power of contempt.[28] The court found Roy's statement, which she refused to disavow or apologize for, constituted criminal contempt and sentenced her to a "symbolic" one day's imprisonment and fined Roy Rs. 2500.[29] Roy served the jail sentence for a single day and opted to pay the fine rather than serve an additional three months' imprisonment for default.[30]
Environmental historian Ramachandra Guha has been critical of Roy's Narmada dam activism. While acknowledging her "courage and commitment" to the cause, Guha writes that her advocacy is hyperbolic and self-indulgent,[31] "Ms. Roy's tendency to exaggerate and simplify, her Manichean view of the world, and her shrill hectoring tone, have given a bad name to environmental analysis".[32] He faults Roy's criticism of Supreme Court judges who were hearing a petition brought by the Narmada Bachao Andolan as careless and irresponsible.
Roy counters that her writing is intentional in its passionate, hysterical tone: "I am hysterical. I'm screaming from the bloody rooftops. And he and his smug little club are going 'Shhhh... you'll wake the neighbours!' I want to wake the neighbours, that's my whole point. I want everybody to open their eyes".[33]
Gail Omvedt and Roy have had a fierce discussions, in open letters, on Roy's strategy for the Narmada Dam movement. Though the activists disagree on whether to demand stopping the dam building all together (Roy) or searching for intermediate alternatives (Omvedt), the exchange has mostly been, though critical, constructive.[34]
United States foreign policy, the War in Afghanistan
In a 2001 opinion piece in the British newspaper The Guardian, Arundhati Roy responded to the US military invasion of Afghanistan, finding fault with the argument that this war would be a retaliation for the September 11 attacks: "The bombing of Afghanistan is not revenge for New York and Washington. It is yet another act of terror against the people of the world." According to her, U.S. President George W. Bush and British Prime Minister Tony Blair were guilty of a Big Brother-kind of doublethink: "When he announced the air strikes, President George Bush said: 'We're a peaceful nation.' America's favourite ambassador, Tony Blair, (who also holds the portfolio of prime minister of the UK), echoed him: 'We're a peaceful people.' So now we know. Pigs are horses. Girls are boys. War is peace."
She disputes U.S. claims of being a peaceful and freedom-loving nation, listing China and nineteen 3rd World "countries that America has been at war with - and bombed - since the second world war", as well as previous U.S. support for the Taliban movement and support for the Northern Alliance (whose "track record is not very different from the Taliban's"). She does not spare the Taliban: "Now, as adults and rulers, the Taliban beat, stone, rape and brutalise women, they don't seem to know what else to do with them."
In the final analysis, Roy sees American-style capitalism as the culprit: "In America, the arms industry, the oil industry, the major media networks, and, indeed, US foreign policy, are all controlled by the same business combines." She puts the attacks on the World Trade Center and on Afghanistan on the same moral level, that of terrorism, and mourns the impossibility of imagining beauty after 2001: "Will it be possible ever again to watch the slow, amazed blink of a newborn gecko in the sun, or whisper back to the marmot who has just whispered in your ear - without thinking of the World Trade Centre and Afghanistan?"[35]
In May 2003 she delivered a speech entitled "Instant-Mix Imperial Democracy" at the Riverside Church in New York City. In it she described the United States as a global empire that reserves the right to bomb any of its subjects at any time, deriving its legitimacy directly from God. The speech was an indictment of the U.S. actions relating to the Iraq War.[36][37] In June 2005 she took part in the World Tribunal on Iraq. In March 2006, Roy criticized US President George W. Bush's visit to India, calling him a "war criminal."[38]
India's nuclear weaponisation
In response to India's testing of nuclear weapons in Pokhran, Rajasthan, Roy wrote The End of Imagination (1998), a critique of the Indian government's nuclear policies. It was published in her collection The Cost of Living (1999), in which she also crusaded against India's massive hydroelectric dam projects in the central and western states of Maharashtra, Madhya Pradesh and Gujarat.
Criticism of Israel
In August 2006, Roy, along with Noam Chomsky, Howard Zinn, and others, signed a letter in The Guardian called the 2006 Lebanon War a "war crime" and accused Israel of "state terror."[39] In 2007, Roy was one of more than 100 artists and writers who signed an open letter initiated by Queers Undermining Israeli Terrorism and the South West Asian, North African Bay Area Queers and calling on the San Francisco International LGBT Film Festival "to honor calls for an international boycott of Israeli political and cultural institutions, by discontinuing Israeli consulate sponsorship of the LGBT film festival and not cosponsoring events with the Israeli consulate."[40][41]
2001 Indian Parliament attack
Roy has raised questions about the investigation into the 2001 Indian Parliament attack and the trial of the accused. She has called for the death sentence of Mohammad Afzal to be stayed while a parliamentary enquiry into these questions are conducted and denounced press coverage of the trial.[42] The Bharatiya Janata Party (BJP) has criticized Roy for what it alleges is defence of a terrorist going against the national interest.[43][dead link]
The Muthanga incident
In 2003, the Adivasi Gothra Maha Sabha, a social movement for adivasi land rights in Kerala, organized a major land occupation of a piece of land of a former Eucalyptus plantation in the Muthanga Wildlife Reserve, on the border of Kerala and Karnataka. After 48 days, a police force was sent into the area to evict the occupants—one participant of the movement and a policeman were killed, and the leaders of the movement were arrested. Arundhati Roy travelled to the area, visited the movement's leaders in jail, and wrote an open letter to the then Chief Minister of Kerala, A.K. Antony now India's Defence Minister, saying "You have blood on your hands."[44]
Comments on 2008 Mumbai attacks
In an opinion piece for The Guardian (13 December 2008), Roy argued that the November 2008 Mumbai attacks can not be seen in isolation, but must be understood in the context of wider issues in the region's history and society such as widespread poverty, the Partition of India (which Roy calls "Britain's final, parting kick to us"), the atrocities committed during the 2002 Gujarat violence, and the ongoing conflict in Kashmir. Despite this call for context, Roy states clearly in the article that she believes "nothing can justify terrorism" and calls terrorism "a heartless ideology." Roy warns against war with Pakistan, arguing that it is hard to "pin down the provenance of a terrorist strike and isolate it within the borders of a single nation state", and that war could lead to the "descent of the whole region into chaos".[45] Her remarks were strongly criticized by Salman Rushdie and others, who condemned her for linking the Bombay attacks with Kashmir and economic injustice against Muslims in India;[46] Rushdie specifically criticized Roy for attacking the iconic status of the Taj Mahal Palace & Tower.[47] Indian writer Tavleen Singh called Roy's comments "he latest of her series of hysterical diatribes against India and all things Indian."[48]
War in Sri Lanka against Tamil rebels, 2009
In an opinion piece, once again in The Guardian (April 1, 2009), Roy made a plea for international attention to what she perceived, based on reports, to be a possible government-sponsored genocide of Tamils in Sri Lanka. She cited reports of camps into which Tamils were being herded as part of what she described as "a brazen, openly racist war."[49]She also mentioned that the "Government of Sri Lanka is on the verge of committing what could end up being genocide"[50] and described the Sri Lankan IDP camps where Tamil civilians are being held as concentration camps[51]. Ruvani Freeman, a Sri Lankan writer called Roy's remarks "ill-informed and hypocritical" and criticized her for whitewashing the atrocities of the LTTE[52]
Violation of forest law
In 2003, Arundhati and her husband[53], were according to The Telegraph informed by Panchmarhi district administration that "a hilltop bungalow her husband owns near Panchmarhi stands on notified forest land and has to be pulled down...on grounds of violation of forest law."[54]. Also named in the case was the sister of Indian novelist Vikram Seth and two forest officials. Arundhati's husband bought the 4,346 sq ft plot in 1994.
Views on the Naxals
Roy has criticized Government's armed actions against the Naxalite-Maoist insurgents in India, calling it "war on the poorest people in the country". According to her, the Government launched the offensive in Naxals to aid the corporations with whom it has signed Memorandums of Understanding (MoUs).[55] While she has received support from various quarters for her views[56], Roy's description of the Maoists as "Gandhians" raised a controversy.[57][58] She has alleged that sections of the media have "often been biased and incorrect in their reportage" about the Naxalite violence.[where?]
Awards
Arundhati Roy was awarded the 1997 Booker Prize for her novel The God of Small Things. The award carried a prize of about US $30,000[59] and a citation that noted, 'The book keeps all the promises that it makes.'[60] Prior to this, she won the National Film Award for Best Screenplay in 1989, for the screenplay of In Which Annie Gives It Those Ones.[61]
In 2002, she won the Lannan Foundation's Cultural Freedom Award for her work "about civil societies that are adversely affected by the world's most powerful governments and corporations," in order "to celebrate her life and her ongoing work in the struggle for freedom, justice and cultural diversity."[62]
Roy was awarded the Sydney Peace Prize in May 2004 for her work in social campaigns and her advocacy of non-violence.
In January 2006, she was awarded the Sahitya Akademi Award, a national award from India's Academy of Letters, for her collection of essays on contemporary issues, The Algebra of Infinite Justice, but she declined to accept it "in protest against the Indian Government toeing the US line by 'violently and ruthlessly pursuing policies of brutalisation of industrial workers, increasing militarisation and economic neo-liberalisation.'"[63]
Works
Books
- The God of Small Things. Flamingo, 1997. ISBN 0-00-655068-1.
- The End of Imagination. Kottayam: D.C. Books, 1998. ISBN 8171308678.
- The Cost of Living. Flamingo, 1999. ISBN 0375756140. Contains the essays "The Greater Common Good" and "The End of Imagination."
- The Greater Common Good. Bombay: India Book Distributor, 1999. ISBN 8173101213.
- The Algebra of Infinite Justice. Flamingo, 2002. ISBN 0-00-714949-2. Collection of essays: "The End of Imagination," "The Greater Common Good," "Power Politics", "The Ladies Have Feelings, So...," "The Algebra of Infinite Justice," "War is Peace," "Democracy," "War Talk", and "Come September."
- Power Politics. Cambridge: South End Press, 2002. ISBN 0-89608-668-2.
- War Talk. Cambridge: South End Press, 2003. ISBN 0-89608-724-7.
- Foreword to Noam Chomsky, For Reasons of State. 2003. ISBN 1-56584-794-6.
- An Ordinary Person's Guide To Empire. Consortium, 2004. ISBN 0-89608-727-1.
- Public Power in the Age of Empire Seven Stories Press, 2004. ISBN 1-58322-682-6.
- The Checkbook and the Cruise Missile: Conversations with Arundhati Roy. Interviews by David Barsamian. Cambridge: South End Press, 2004. ISBN 0-89608-710-7.
- Introduction to 13 December, a Reader: The Strange Case of the Attack on the Indian Parliament. New Delhi, New York: Penguin, 2006. ISBN 014310182X.
- The Shape of the Beast: Conversations with Arundhati Roy. New Delhi: Penguin, Viking, 2008. ISBN 9780670082070.
- Listening to Grasshoppers: Field Notes on Democracy. New Delhi: Penguin, Hamish Hamilton, 2009. ISBN 9780670083794.
Speeches, Essays, Interviews
- We 'We,' documentary featuring the works of Arundhati Roy
- Come September Transcript of speech on 18 September 2002 and conversation with Howard Zinn
- Arundhati Roy on India, Iraq, U.S. Empire and Dissent—interview on Democracy Now!
- 'We have to become the global resistance' (Abridged version of speech at the World Social Forum in Mumbai, 16 January 2004)
- Tide? or Ivory Snow? Public Power in the Age of Empire (16 August 2004 speech in San Francisco)
- ABC Radio National transcript of Sydney Peace Prize Lecture (with audio) or download the speech here
- 'The Most Cowardly War in History'; opening statement at the Iraq tribunal (Article dated 24 June 2005)
- Podcast of Arundhati Roy and Pankaj Mishra discussing "India in the World" at the Shanghai International Literary Festival
- Arundhati Roy on the Human Costs of India's Economic Growth, the View of Obama in New Delhi, and Escalating US Attacks in Af-Pak
- Audio: Arundhati Roy in conversation on the BBC World Service discussion programme The Forum
- Arundhati Roy on Obama's Wars, India and Why Democracy Is "The Biggest Scam in the World"
- "In the Valley of the Tigers"; Interview with Ascent magazine on the Narmada Valley
- Ghandi but with Guns - essay about the naxalites at guardian.co.uk (2010-3-27)
- Fault Lines - Arundhati Roy (video) - Interview with Arundhati Roy on Al Jazeera English (retrieved 2010-5-6)
See also
- Anti-globalization movement
- Narmada Bachao Andolan
- Indian English literature
- American Empire
- Criticism of United States foreign policy
References
Books and articles on Roy
- Anūp, Si. (1997). Arundhatiyuṭ̣e atbhutalōkaṃ. Trivandrum: New Indian Books.
- Balvannanadhan, Aïda (2007). Arundhati Roy's The God of Small Things. New Delhi: Prestige Books. ISBN 8175511931.
- Bhatt, Indira; Indira Nityanandam (1999). Explorations: Arundhati Roy's The God of Small Things. New Delhi: Creative Books. ISBN 8186318569.
- "The Politics of Design," in Ch'ien, Evelyn Nien-Ming (2005). Weird English. Harvard UP. pp. 154–99. ISBN 9780674018198. http://books.google.com/books?id=Fx6o5NXOLoQC.
- Dhawan, R.K. (1999). Arundhati Roy, the novelist extraordinary. New Delhi: Prestige Books. ISBN 8175510609.
- Dodiya, Jaydipsinh; Joya Chakravarty (1999). The Critical studies of Arundhati Roy's The God of Small Things. New Delhi: Atlantic. ISBN 8171568505.
- Durix, Carole; Jean-Pierre Durix (2002). Reading Arundhati Roy's The God of Small Things. Dijon: Editions universitaires de Dijon. ISBN 2905965800.
- Ghosh, Ranjan; Antonia Navarro-Tejero (2009). Globalizing dissent: Essays on Arundhati Roy. New York: Routledge. ISBN 9780415995597.
- Jōsaphmātyu, Ēt̲t̲umānūr (1997). Arundhati R̲ōyiyuṭe Da gōḍ ōph smōḷ tiṅgs: kathayuṃ kāryavuṃ: sāhitya paṭhanam. Kottayam: Toms Literary Editions.
- Mullaney, Julie (2002). Arundhati Roy's The God of Small Things: A reader's guide. New York: Continuum. ISBN 0826453279.
- Navarro-Tejero, Antonia (2005). Gender and caste in the Anglophone-Indian novels of Arundhati Roy and Githa Hariharan: feminist issues in cross-cultural perspectives. Lewiston: Edwin Mellen. ISBN 0773459952.
- Pathak, R.S. (2001). The fictional world of Arundhati Roy. New Delhi: Creative Books. ISBN 8186318844.
- Prasad, Murari; Bill Ashcroft (foreword) (2006). Arundhati Roy, critical perspectives. Delhi: Pencraft International. ISBN 8185753768.
- Roy, Amitabh (2005). The God of Small Things: A Novel of Social Commitment. Atlantic. pp. 37–38. ISBN 9788126904099. http://books.google.com/books?id=2LgYuhRK0yIC&pg=PA37&dq=%22Pradip+Krishen%22&as_brr=0#PPA37,M1.
- Sharma, A.P. (2000). The mind and the art of Arundhati Roy: a critical appraisal of her novel, The God of Small Things. New Delhi: Minerva. ISBN 817662120X.
- Shashi, R.S.; Bala Talwar (1998). Arundhati Roy's The God of Small Things: Critique and commentary. New Delhi: Creative Books. ISBN 8186318542.
- Tickell, Alex (2007). Arundhati Roy's The God of Small Things. New York: Routledge. ISBN 9780415358422.
- Tōmas, Jōmi (1997). Arundhati R̲ōy, kr̥tiyuṃ kāl̲cappāṭum. Kozhikode: Kar̲ant̲ Buks. ISBN 812400515X.
Other
- We, a political documentary about Roy's words. Available online.
- Arundhati Roy denounces Indian democracy by Atul Cowshish
- Carreira, Shirley de S. G.A representação da mulher em Shame, de Salman Rushdie, e O deus das pequenas coisas, de Arundathi Roy. In: MONTEIRO, Conceição & LIMA, Tereza M. de O. ed. Rio de Janeiro: Caetés, 2005
- Ch'ien, Evelyn Nien-Ming, "The Politics of Design" (Weird English. Cambridge: Harvard UP, 2004; 154-99). Essay on Roy's language. Available online.
- Literary Encyclopedia (in-progress)
- SAWNET biography
- Bibliography
- Arundhati Roy - NNDB entry
Notes
- ^ a b "Arundhati Roy, 1959 -". The South Asian Literary Recordings Project. Library of Congress, New Delhi Office. 2002-11-15. http://www.loc.gov/acq/ovop/delhi/salrp/arundhathiroy.html. Retrieved 2009-04-06.
- ^ Rediff On The NeT: Mary Roy celebrates her daughter's victory.
- ^ "Arundhati Roy: A 'small hero'". BBC News Online. 2002-03-06. http://news.bbc.co.uk/2/hi/entertainment/1857495.stm.
- ^ a b c Ramesh, Randeep (2007-02-17). "Live to tell". The Guardian. http://www.guardian.co.uk/books/2007/feb/17/fiction.arundhatiroy. Retrieved 2009-04-06.
- ^ "Notable Books of the Year 1997". New York Times. 1997-12-07. http://www.nytimes.com/books/97/12/07/reviews/notable-fiction.html. Retrieved 2007-03-21.
- ^ "Best Sellers Plus". New York Times. 1998-01-25. http://www.nytimes.com/books/98/01/25/bsp/fictioncompare.html. Retrieved 2007-03-21.
- ^ Kakutani, Michiko (1997-06-03). "Melodrama as Structure for Subtlety". New York Times. http://www.nytimes.com/1997/06/03/books/melodrama-as-structure-for-subtlety.html?scp=3&sq=%22the+god+of+small+things%22&st=nyt.
- ^ Truax, Alice (1997-05-25), "A Silver Thimble in Her Fist", New York Times, http://www.nytimes.com/books/97/05/25/reviews/970525.25truaxt.html
- ^ Eder, Richard (1997-06-01). "As the world turns: rev. of The God of Small Things". Los Angeles Times: p. 2. http://pqasb.pqarchiver.com/latimes/access/12168713.html?dids=12168713:12168713&FMT=ABS&FMTS=ABS:FT&type=current&date=Jun+01%2C+1997&author=RICHARD+EDER&pub=Los+Angeles+Times&desc=As+the+World+Turns%3B+THE+GOD+OF+SMALL+THINGS.++By+Arundhati+Roy+.+Random+House%3A+321+pp.%2C+%2423&pqatl=google. Retrieved 2010-01-18.
- ^ Carey, Barbara (1997-06-07). "A lush, magical novel of India". Toronto Star: p. M.21.
- ^ "Books: The best of 1997". TIME. 1997-12-29. http://www.time.com/time/magazine/article/0,9171,987619,00.html. Retrieved 2010-01-18.
- ^ "The scene is set for the Booker battle". BBC News. 1998-09-24. http://news.bbc.co.uk/2/hi/uk_news/179131.stm. Retrieved 2010-01-18.
- ^ Kutty, N Madhavan (1997-11-09). "Comrade of Small Jokes". Indian Express. http://www.indianexpress.com/ie/daily/19971109/31350653.html. Retrieved 2010-01-18.
- ^ Bumiller, Elisabeth (1997-07-29). "A Novelist Beginning with a Bang". The New York Times. http://www.nytimes.com/1997/07/29/books/a-novelist-beginning-with-a-bang.html?scp=4&sq=%22the+god+of+small+things%22&st=nyt. Retrieved 2010-01-18.
- ^ Randeep Ramesh (2007-03-10). "An activist returns to the novel". Sydney Morning Herald. http://www.smh.com.au/news/books/an-activist-returns-to-the-novel/2007/03/08/1173166881043.html?page=fullpage#contentSwap2. Retrieved 2007-03-13.
- ^ "We Are One: a celebration of tribal peoples published this autumn". Survival International. 2009-10-16. http://www.survivalinternational.org/news/4981. Retrieved 2009-11-25.
- ^ Thottam, Jyoti (2008-09-04). "Valley of Tears". Time magazine. http://www.time.com/time/magazine/article/0,9171,1838586,00.html. Retrieved 2009-04-06.
- ^ Ghosh, Avijit (2008-08-19). "Kashmir needs freedom from India: Arundhati Roy". Times of India. http://timesofindia.indiatimes.com/Kashmir_needs_freedom_from_India_Arundhati_Roy/articleshow/3378687.cms. Retrieved 2009-04-06.
- ^ "Cong attacks Roy on Kashmir remark". Economic Times (Times of India). 20 Aug 2008. http://economictimes.indiatimes.com/News/PoliticsNation/Cong_attacks_Roy_on_Kashmir_remark/articleshow/3384003.cms. Retrieved 2009-03-25.
- ^ Sanghvi, Vir (2008-08-16). "Think the Unthinkable". Hindustan Times. http://www.hindustantimes.com/StoryPage/StoryPage.aspx?id=37ea1a37-c222-41e7-8b19-859b5fd34cbd. Retrieved 2009-04-06.
- ^ Suraiya, Jug (2008-08-20). "India minus K-word". The Times of India. http://timesofindia.indiatimes.com/Editorial/India_minus_K-word/articleshow/3382132.cms. Retrieved 2009-04-06.
- ^ Aiyar, Swaminathan S Anklesaria (2008-08-17). "Independence Day for Kashmir". The Times of India. http://timesofindia.indiatimes.com/Opinion/Columnists/Independence_Day_for_Kashmir/articleshow/3372132.cms. Retrieved 2009-04-06.
- ^ Manchanda, Rita (2008-09-04). "Media-India: Columnists Support Kashmir's Secession". Inter Press Service. http://ipsnews.net/news.asp?idnews=43782. Retrieved 2009-04-06.
- ^ Roy, Arundhati (May 22 - June 04, 1999), "The Greater Common Good", Frontline (magazine) 16 (11), http://www.hinduonnet.com/fline/fl1611/16110040.htm
- ^ "Drowned Out". Internet Movie Database. 2009. http://www.imdb.com/title/tt0424055/. Retrieved 2009-04-06.
- ^ "Playwright Tendulkar in BJP gunsight". The Telegraph (Kolkata). 2003-12-13. http://www.telegraphindia.com/1031213/asp/nation/story_2674388.asp. Retrieved 2009-04-06. The Telegraph - Calcutta: Nation].
- ^ "Arundhati's contempt: Supreme Court writes her a prison sentence". Indian Express. 2002-03-07. http://www.indianexpress.com/india-news/ie20020307/top3.html. V. Venkatesan and Sukumar Muralidharan (August 18 - 31, 2001). "Of contempt and legitimate dissent". Frontline. http://www.flonnet.com/fl1817/18170910.htm.
- ^ In re: Arundhati Roy.... Contemner, JUDIS (Supreme Court of India bench, Justices G.B. Pattanaik & R.P. Sethi 2002-03-06).
- ^ Roy, Arundhati (2002-03-07). "Statement by Arundhati Roy". Friends of River Narmada. http://www.narmada.org/sc.contempt/aroy.stmt.mar7.2002.html. Retrieved 2007-03-21.
- ^ Ramachandra Guha, The Arun Shourie of the left, The Hindu, 2000-11-26.
- ^ Ramachandra Guha, Perils of extremism, The Hindu, 2000-12-17.
- ^ Ram, N. (6-19 January 2001). "Scimitars in the Sun: N. Ram interviews Arundhati Roy on a writer's place in politics.". Frontline, The Hindu. http://www.frontlineonnet.com/fl1801/18010040.htm. Retrieved 2008-10-30.
- ^ Omvedt, Gail. "An Open Letter to Arundhati Roy". Friends of River Narmada. http://www.narmada.org/debates/gail/gail.open.letter.html. Retrieved 2008-10-30.
- ^ Roy, Arundhati (2001-10-23). "'Brutality smeared in peanut butter': Why America must stop the war now". The Guardian. http://www.guardian.co.uk/Archive/Article/0,4273,4283081,00.html. Retrieved 2009-03-11.
- ^ Roy, Arundhati (2003-05-13). "Instant-Mix Imperial Democracy (Buy One, Get One Free)". Text of speech at the Riverside Church. Commondreams.org. http://www.commondreams.org/views03/0518-01.htm. Retrieved 2009-04-06.
- ^ Roy, Arundhati. "Instant-Mix Imperial Democracy, Buy One Get One Free – An Hour With Arundhati Roy". Text of speech at the Riverside Church. Democracy Now!. http://www.democracynow.org/2003/10/24/instant_mix_imperial_democracy_buy_one. Retrieved 2009-04-06.
- ^ Roy, Arundhati (2006-02-28). "George Bush go home" (in en). The Hindu. http://www.hindu.com/2006/02/28/stories/2006022804301100.htm. Retrieved 2007-03-21.
- ^ "War crimes and Lebanon". 2006-08-03. http://www.guardian.co.uk/israel/Story/0,,1835915,00.html. Retrieved 2009-04-06.
- ^ "Political Notebook: Queer activists reel over Israel, Frameline ties". 2007-05-17. http://www.ebar.com/news/article.php?sec=news&article=1838.
- ^ "San Francisco Queers Say No Pride in Apartheid". 2007-05-29. http://electronicintifada.net/v2/article6966.shtml.
- ^ Arundhati Roy, 'And His Life Should Become Extinct', Outlook, 2006-10-30.
- ^ BJP flays Arundhati for 'defending' Afzal, The Hindu, 2006-10-28.
- ^ Roy, Arundhati (March 15, 2003). ""You have blood on your hands"; Arundhati Roy to Kerala Chief Minister Antony". Frontline, Vol.20, Issue 6 (The Hindu). http://www.hinduonnet.com/fline/fl2006/stories/20030328002104500.htm. Retrieved 2009-03-25.
- ^ Roy, Arundhati (2008-12-13). "The monster in the mirror". The Guardian. http://www.guardian.co.uk/world/2008/dec/12/mumbai-arundhati-roy. Retrieved 2010-01-18.
- ^ "All terrorism roads lead to Pakistan, says Rushdie". The Times of India. 18 December 2008. http://timesofindia.indiatimes.com/All_terrorism_roads_lead_to_Pakistan_says_Salman_Rushdie/articleshow/3855871.cms.
- ^ "Rushdie Slams Arundhati Roy". Times of India. 2008-12-18. http://timesofindia.indiatimes.com/videoshow/3858343.cms. Retrieved 2010-01-18.
- ^ Singh, Tavleen (2008-12-21). "The Real Enemies". Indian Express. http://www.indianexpress.com/news/the-real-enemies/400963/. Retrieved 2010-01-18.
- ^ Roy, Arundhati (2009-04-01). "This is not a war on terror. It is a racist war on all Tamils". The Guardian online edition (The Guardian). http://www.guardian.co.uk/commentisfree/2009/apr/01/sri-lanka-india-tamil-tigers.
- ^ Roy, Arundhati (2009-04-01). "This is not a war on terror. It is a racist war on all Tamils". The Guardian online edition (The Guardian). http://www.guardian.co.uk/commentisfree/2009/apr/01/sri-lanka-india-tamil-tigers.
- ^ Fernandes, Edna (3 May 2009). "Inside Sri Lanka's 'concentration camps'". Daily Mail, UK. http://www.dailymail.co.uk/news/worldnews/article-1176597/Exclusive-Inside-Sri-Lankas-concentration-camps.html. Retrieved 24 October 2009.
- ^ Lankan writer slams Arundhati Roy Indian Express - April 4, 2009
- ^ Arundhati Roy, Vikram Seth in encroachment case Times of India - June 26, 2006
- ^ KIDWAI, RASHEED (2003-05-07). "Bungalow blow to Arundhati - Allotment on notified forest land cancelled in Panchmarhi" (in en). The Telegraph (Calcutta). http://www.telegraphindia.com/1030507/asp/frontpage/story_1945565.asp. Retrieved 2007-03-21.
- ^ Govt at war with Naxals to aid MNCs: Arundhati. IBNLive.com. 21 October 2009.
- ^ Amulya Ganguli. Rooting for rebels. 11 May 2010. DNA India.
- ^ Walking With The Comrades. Outlook cover story. 29 March 2010.
- ^ Cops shouldn't have used public bus: Arundhati. The Times of India. May 19, 2010.
- ^ "Arundhati Roy interviewed by David Barsamian". The South Asian. September 2001. http://www.the-south-asian.com/Sept2001/Arundhati_Roy-Interview1.htm.
- ^ "Previous winners - 1997". Booker Prize Foundation. http://www.themanbookerprize.com/about/previous/1997.php. Retrieved 2007-03-21.
- ^ In Which Annie Gives It Those Ones - Awards Internet Movie Database.
- ^ "2002 Lannan Cultural Freedom Prize awarded to Arundhati Roy". Lannan Foundation. http://www.lannan.org/lf/cf/detail/2002-prize-for-cultural-freedom-roy/. Retrieved 2007-03-21.
- ^ Sahitya Akademi Award: Arundhati Roy Rejects Honor.
External links
 | Wikiquote has a collection of quotations related to: Arundhati Roy |
 | Wikimedia Commons has media related to: Arundhati Roy |
| |||||
| Persondata | |
|---|---|
| NAME | Roy, Arundhati |
| ALTERNATIVE NAMES | Roy, Suzanna Arundhati |
| SHORT DESCRIPTION | Indian novelist, essayist |
| DATE OF BIRTH | November 24, 1961 |
| PLACE OF BIRTH | Shillong, Meghalaya |
| DATE OF DEATH | |
| PLACE OF DEATH | |
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