India test-fires Pinaka successfully again

     Chandipur-On-Sea (Orissa): Scientists of the Defence Research and Development Organisation (DRDO) successfully test-fired two more rounds of the "Pinaka", the indigenously developed multi-barrel rocket system for the second consecutive day on Friday. The rocket system was test fired from the Proof and Experimental Establishment (P and E) of the Defence Research and Development Organisation (DRDO) at Chandipur, about 15 km from Balasore. Defence sources said the artillery rocket was test-fired at 11.05 a.m. and 11.20 a.m. Developed at the Armament Research and Development Establishment (ARDE) at Pune, the 10-foot-long ground target mobile launch rocket had been subjected to several tests since 1995. It had already been inducted into the armed forces. The trial being undertaken now was aimed at improving the entire system and sub-system of rockets developed by the DRDO. The sophisticated Pinaka is an area weapon system aimed at supplementing the existing artillery guns at a range beyond 30 kilometers.

Maoists withdraw call for closure of Nepal's private schools (Go To Top)

      Kathmandu: Nepal's Maoist rebels have withdrawn their call for closing all private schools in the kingdom following rising public protests over the reported move. Had the ban been imposed, it would affected about 1.5 million students studying in 8,500 private schools across the country. All schools opened earlier in the day while half of the schools had already opened on Thursday as the Maoists' student wing All Nepal National Free Students Union (Revolutionery) withdrew their strike. Maoist student leader Lekhnath Neupeane said that he had withdrawn the ban on the request of students, parents, civil associations and organisations, political parties, national and international human rights activists and the UN. The Maoists have been demanding that the government nationalise all schools and rebels bombed a number of buildings for defying the strike.

Deuba placed in police custody for a week (Go To Top)

     Kathmandu: Ousted Nepalese prime minister Sher Bahadur Deuba has been placed in police custody for a week after he refused to testify before the Royal Commission for Corruption Control (RCCC), on alleged misuse of funds during his tenure. Subsequent to the grilling at Nayabaneshwor on Thursday, the RCCC decided to put Deuba in police custody for seven days for non- cooperation in giving explanations on alleged irregularities in awarding a multi-million-dollar contract of ADB-funded Melamchi Drinking Water Project and the misuse of PM's fund during his tenure. Deuba, on the other hand, questioned the legality of the anti- graft body. Deuba was arrested from his house on Wednesday and taken to the Police Training Centre at Maharajgunj for detention.

18 killed, 64 wounded in Iraq car bomb attacks (Go To Top)

     Baghdad: At least 18 people have been killed and over 64 were wounded in a string of at least seven car bomb attacks targeting security forces in and around Baghdad, a day after Iraq's new government was formed. The attacks came a day after Parliament voted in the new government of Prime Minister Ibrahim Jaafari, with several seats left vacant. Thirteen people died and 50 were wounded in four apparently coordinated car bomb attacks in two districts of the capital at about 8 a.m. local times, an Iraqi official said. Five died and 14 were wounded when three more car bombs exploded in Madain, a town 30 kilometres south of Baghdad. Two car bombs in the capital targeted Iraqi police and Army in the northern district of Adhamiyah. Adding to the chaos, insurgents fired several mortar shells into the area at the same time, the interior ministry official said. Two other car bombs targeted police in the eastern district of Saligh. Half an hour earlier, a bomb exploded soon after an American convoy passed through the southern district of Dura.

Finance Ministry ratifies 9.5 pc interest rate on EPF (Go To Top)

     New Delhi: The Finance Ministry has ratified the interest rate of 9.5 percent for about four crore subscribers of Employees Provident Fund for 2002-03 and 2003-04 and is awaiting the recommendation of Central Board of Trustees of EPFO for ratifying the interest rate for 2004-05. This ratification was disclosed by Finance Minister P.Chidambaram after his meeting with Prime minister Dr.Manmohan Singh on Friday. For 2002-03, the EPF board declared 9.5 percent while for 2003-04 it was 9 percent along with a 0.5 percent bonus for the year being a golden jubilee year. The decision to offer 9.5 percent interest to EPF subscribers in 2004-05 was taken before the February assembly elections in Bihar, Jharkhand and Haryana. The Central Board of Trustees of EPFO, headed by Labour Minister K Chandrasekhar Rao, had estimated Rs 927 crore gap between what it earns on investments and higher 9.5 percent interest to be paid to subscribers during 2004-05. The EPFO board is now expected to meet sometime in May to formulate its recommendations and discuss ways of bridging the deficit and arrive at the interest rate for 2005-06.

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