The trading session would be conducted from 0945 hrs to 1130 hrs. Stock exchanges usually conduct mock trading session to test their system performance.
By Yara Bayoumy
ALEPPO PROVINCE, Syria (Reuters) - At a converted warehouse in the midst of a block of residential homes in a northern Syrian town, men are hard at work at giant lathes, shavings of metal gathering around them.
Sacks of potassium nitrate and sugar lie nearby.
In a neat row against the wall is the finished product, homemade mortars. Syrian rebels say they have been forced to make them because their calls for heavy weapons and ammunition to fight President Bashar al-Assad have gone unanswered.
"No one's giving us any support. So we're working on our own to strike Bashar," said a bearded man spinning the metal to create the warhead.
Using the Internet, the workshop of about seven men work together to try and perfect the crude weapons. For explosives, they pick out TNT from unexploded rockets that Assad's forces have fired towards them and repackage them into their own weapons. Each gave different estimates of the mortars' range.
"We're volunteers, we were workers, we were never soldiers. They're locally made. They don't have the strength of the regime's rockets, but they are having good effects," said Abu Mohammed, who said the mortars created a 3-1/2 metre crater.
Another worker said the mortars, which take about a day to make, could reach a distance of 6 km (almost 4 miles).
Although the rebels, who are mostly Sunni Muslim fighters, have made big gains in the northern and eastern parts of Syria in the 21-month conflict, they are outgunned by Assad's forces.
Some rebel groups are receiving supplies from Gulf states, and Western countries say they are giving non-lethal aid. But many rebels say they have not received anything.
Colonel Abdel-Jabbar Oqaidi, who heads the rebels' military council in Aleppo province, told Reuters last week that his forces are fighting without any help from the Western and Arab governments which want Assad removed from power.
"We aren't able to get any weapons from abroad. We have nothing except for the rifle to fight with," said another man at the workshop.
OLD TANKS
The success rate of the weapons is questionable. Two men said the mortars hit 80 to 90 percent of the targets, but there have been problems. Sometimes the mortars do not detonate, other times they explode prematurely.
"The more we practice, the more experience we get," said one of the men, explaining how they discovered that if they let the propelling agent mixture set for too long it absorbed humidity, which in turn stopped the mortar from detonating.
At one of the Aleppo frontline positions, rebels fired the mortars from a homemade tube, fashioned from piping on a mount made from a car axle.
The rebels have also been working on refurbishing weaponry acquired during takeovers of Assad's military bases.
Parked in a residential street, a group of men have been working on fixing a T-72 tank whose gear box was blown.
Abu Jumaa, one of the mechanics working on the 1970s tank, said fighters had taken it from an infantry college in north Syria that had recently fallen to rebel forces.
"We have no tanks, no planes, no artillery. All we have is what we get in spoils and we go to war against him (Assad) with what we get. That's the reality. We're forced to do this," he told Reuters.
"These tanks are useless in the first place. It can't be called a tank, It's a lump of scrap iron," he said gesturing at the chipped army green metal.
Rebel fighters on the frontline consistently complain of shortages of weapons and ammunition that have forced them to stop advances and focus on keeping the ground they have gained.
"We get 3,000 bullets a month. No anti-aircraft missiles ... everything is from the military bases (we take over)," said one young rebel fighter from the Supporters of Mohammed Brigade, wearing a plaid yellow and black turban.
Even though the rebels have managed to seize large quantities of weapons from military bases, they struggle with a chronic shortage of ammunition and weapons to target Assad's fighter jets.
"You see how the planes are striking all of us, not differentiating between old and young ... God has helped us, we've made these rockets and we're using them to hit back at them all over again," said Abu Mohammed.
(Editing by Peter Graff and Robin Pomeroy)
BEIJING (Reuters) - Chinese fishermen detained for illegal fishing in Japan's waters were released Monday after promising to pay a 4.28 million yen fine, China's state news agency Xinhua said, citing the consulate general in Japan's southwestern city of Fukuoka.
Xinhua said the detention of the three fishermen for unauthorised coral fishing within Japanese waters was "peacefully resolved" within 48 hours.
The detention comes as tensions simmer between China and Japan over ownership of disputed islands near Taiwan, known as Senkaku in Japan and Diaoyu in China. The dispute had sparked waves of anti-Japanese protests in Chinese cities this year.
Chinese fishermen tend to fish in waters far east of China to get away from depleted stocks at home.
The captain of the Chinese fishing boat that was among those detained had admitted to being in Japanese waters, Xinhua said on Sunday.
Japanese news agency Kyodo said separately on Monday that the captain was arrested on Saturday for fishing in Japan's exclusive economic zone without permission, charges that he admitted to.
(Reporting by Koh Gui Qing in Beijing and Kiyoshi Takenaka in Tokyo; Editing by Alison Williams)
By Tabassum Zakaria
WASHINGTON (Reuters) - The State Department's decision to keep the U.S. mission in Benghazi open despite inadequate security and increasingly dangerous threat assessments before it was attacked in September was a "grievous mistake," a Senate report said on Monday.
The Senate Homeland Security Committee's report about the September 11 attacks on the U.S. mission and a nearby annex, which killed four Americans, including the U.S. ambassador to Libya, faulted intelligence agencies for not having enough focus on Libyan extremists. It also faulted the State Department for waiting for specific warnings instead of acting on security.
The assessment follows a scathing report by an independent State Department accountability review board that resulted in a top security official and three others at the department stepping down.
The attack, in which U.S. Ambassador Christopher Stevens died, has put diplomatic security practices at posts in insecure areas under scrutiny and raised questions about whether intelligence on terrorism in the region was adequate.
The Senate report said the lack of specific intelligence of an imminent threat in Benghazi "may reflect a failure" in the intelligence community's focus on terrorist groups that have weak or no operational ties to al Qaeda and its affiliates.
"With Osama bin Laden dead and core al Qaeda weakened, a new collection of violent Islamist extremist organizations and cells have emerged in the last two to three years," the report said. That trend has been seen in the "Arab Spring" countries undergoing political transition or military conflict, it said.
The report recommended that U.S. intelligence agencies "broaden and deepen their focus in Libya and beyond, on nascent violent Islamist extremist groups in the region that lack strong operational ties to core al Qaeda or its main affiliate groups."
Neither the Senate report nor the unclassified accountability review board report pinned blame for the Benghazi attack on a specific group. The FBI is investigating who was behind the assaults.
President Barack Obama, in an interview on NBC's "Meet the Press" on Sunday, said the United States had some "very good leads" about who carried out the attacks. He did not provide any details.
The Senate committee report said the State Department should not have waited for specific warnings before acting on improving security in Benghazi.
It also said that it was widely known that the post-revolution Libyan government was "incapable of performing its duty to protect U.S. diplomatic facilities and personnel," but the State Department failed to take adequate steps to fill the security gap.
"Despite the inability of the Libyan government to fulfill its duties to secure the facility, the increasingly dangerous threat assessments, and a particularly vulnerable facility, the Department of State officials did not conclude the facility in Benghazi should be closed or temporarily shut down," the report said. "That was a grievous mistake."
(Editing by Warren Strobel and David Brunnstrom)
GENEVA (Reuters) - A United Nations expert on Monday criticised Sri Lanka's move to impeach its chief justice, saying it was part of a pattern of attacks on lawyers and a bid to stop judges carrying out their work independently of politicians.
Parliament could vote next month to impeach Shirani Bandaranayake, the first woman to head Sri Lanka's Supreme Court, after she was found guilty by a parliamentary panel of financial irregularities and a failure to declare assets.
The case risks a destabilising clash between President Mahinda Rajapaksa's government and the judiciary. Opposition parties have withdrawn from the process, saying it was unfair.
Gabriela Knaul, U.N. Special Rapporteur on the independence of judges and lawyers, said the case against Bandaranayake was part of a pattern of attacks and threats against members of the judiciary and lawyers and interference in their work.
"The recent steps taken by the executive and legislative towards impeaching the chief justice appear to be the culminating point of a series of attacks against the judiciary for asserting its independence," Knaul said in a statement.
"It is of high concern to me that the procedure for the removal of the Chief Justice of the Supreme Court is extremely politicized and characterized by lack of transparency, lack of clarity in the proceedings, as well as lack of respect for the fundamental guarantees of due process and fair trial," she said.
A parliamentary impeachment panel found Bandaranayake guilty on three counts earlier this month. She has appealed against the decision and the United States, the United Nations and Commonwealth have all raised concerns about the process.
Knaul said article 107 of the Sri Lankan constitution, read together with Standing Orders of Parliament, contravened international human rights law and needed amending so that disciplinary proceedings against judges were conducted by independent commissions.
(Reporting by Tom Miles; Editing by Janet Lawrence)
By Will Swanton
BRISBANE (Reuters) - Former U.S. Open champion Samantha Stosur conceded there was no magic solution to her problems on home courts after a shock loss to Sofia Arvidsson in the opening round of the Brisbane International on Monday.
The world number nine, who has failed to match expectations in Australian tournaments, lost 7-6 7-5 to the Swede five weeks after ankle surgery and only a fortnight before the Australian Open.
"Just really disappointed again, leaving Brisbane so early," Stosur told reporters. "I think it was some good tennis and some pretty average tennis at times."
Stosur said the surgery and the subsequent shortage of training had not played a part in her defeat.
"I wasn't going into the match thinking 'Oh my God, I haven't done this or that'," she said.
"I gave myself every opportunity to try and play as well as I could but for sure, I have not practised enough.
"I guess going into the match you want to think that that's going to be enough, but I think tonight it probably showed that it certainly wasn't enough.
"I have a fair bit of work to do ahead of me. You could put it down to being a bit rusty and it's the first match."
Saturation media coverage and public expectation is again accompanying Stosur's attempt to add the Australian Open to the U.S. Open title she secured by upsetting Serena Williams in 2011.
"I don't know how much of that really played into it," she said. "I've said it before, it's great playing out on a court where you've got the crowd behind you and trying to cheer you on and all that."
Stosur's last tournament before the Australian Open starts in Sydney on Sunday.
"I know that panicking doesn't help anyone get a good result or feel better," she said. "There is no magic dust that's going to make anything go away or fix it overnight or anything. I'm not the first player to have their home grand slam and not perform.
""There has been a few Australian and French players, you name it. It's a tough thing.
"Again, would I rather have a grand slam in my country than not? I would.
"All you can do is try and play your best. I know that people believe in me and what I'm trying to do are the right things. You just really want to perform right here, right now. That's what I'm going to keep trying to do."
(Editing by John Mehaffey)
LONDON)
By Ryan Vlastelica
NEW YORK (Reuters) - Global shares and commodities were modestly lower on Monday as a continued deadlock in U.S. budget talks left an undercurrent of uncertainty in markets ahead of the Christmas break.
Volume was light going into the holiday, with many traders already out on vacation. The U.S. stock and bond markets close early, while a number of global markets, including those in Germany and Italy, were closed.
The FTSEurofirst300 closed down 0.1 percent while the MSCI index of global stocks was slightly lower.
Global equities have been pressured by the political stalemate with respect to the U.S. "fiscal cliff," a combination of tax hikes and spending cuts scheduled to take effect next year. Investors fear that if no deal is reached, it could push the U.S. economy into recession, severely hurting global growth.
Some U.S. lawmakers expressed concern on Sunday that the country would go over the cliff, and some Republicans charged that was President Barack Obama's goal. Talks are stalled with Obama and House of Representatives Speaker John Boehner out of Washington for the holiday.
"This will continue to erode confidence and continue to cause problems," said Joe Saluzzi, co-manager of trading at Themis Trading in Chatham, New Jersey. "I am sure they will come up with some patch like they always do... but it's concerning that they can't get their stuff together."
Although there is no official date for talks to resume, the two sides still have a few days after Christmas to find a compromise before the January 1 deadline when the measures start to take effect.
The Dow Jones industrial average was down 30.70 points, or 0.23 percent, at 13,160.14. The Standard & Poor's 500 Index was down 3.32 points, or 0.23 percent, at 1,426.83. The Nasdaq Composite Index was down 7.66 points, or 0.25 percent, at 3,013.34.
Activity in other assets was also subdued, with spot gold edging off a four-month low and February crude futures down 0.2 percent. The benchmark 10-year U.S. Treasury note was down 3/32, the yield at 1.7789 percent.
For the year, the S&P 500 has risen 13.5 percent. In the face of the budget uncertainty, many investors may opt to lock in gains for the year until there is resolution on that front.
YEN JUMPS
Most European bond markets were already shut for Christmas. One of the few to be open was in Britain, where benchmark 10-year yields ticked higher.
Currency markets were also largely quiet. Against the backdrop of the "fiscal cliff" uncertainty, the dollar eased 0.1 percent versus a basket of major currencies while the euro climbed 0.2 percent, back above $1.32.
The major mover was the yen, which jumped 0.6 percent to 84.69 yen after incoming premier Shinzo Abe renewed pressure over the weekend on the Bank of Japan to adopt a 2 percent inflation target.
STRONG FINISH
The uncertainty over the U.S. budget is threatening to sour what has been a strong second half of the year for equity markets. The FTSEurofirst 300 is up 20 percent since June while the Euro STOXX 50 has gained almost 30 percent. Both indexes are set to post their best annual performances since the post-Lehman crisis bounce of 2009.
Investors are showing increasing appetite for European stocks. EPFR Global data reported that flows into equity funds have increased for the last 19 weeks.
"This year has been a year of transition, and now it's time to turn the page and move on, to start picking stocks again for the long term, companies exposed to the emerging consumer in places like Asia and Africa," said David Thebault, head of quantitative sales trading at Global Equities.
Others warn, however, that the euro zone crisis may still have some bite left. Elections are due next year in Italy and Germany, while Spain's government, companies and banks need to refinance huge amounts of debt.
"Policymakers in Spain will not be looking forward to the start of the year and January will probably be quite volatile in Europe," said ABN Amro's Schuiling. "The funding in the first quarter for Spain will be the test... Its deficit is now roughly the same as Greece's."
(Editing by Dan Grebler)
The IIAS claims rising royalty payments by the Indian arms of MNCs are up as much as two fold over the last two years, report CNBC-TV18 Sajeet Manghat and Ashmit Kumar.
Institutional investor advisory services, a firm that claims to watch over the rights of minority shareholders has raised issues with the rising royalty rates being offered by the Indian arms of MNC's.
Iias says the government's move to liberalise payment of foreign technology collaboration and royalty fees via press note 8 in December 2009 has gone against the interest of minority shareholders in the last 3 years.
IIAS says the top 20 royalty remitting companies paid Rs 3,601 crore in FY12 as compared to Rs 1,196 crore five years ago. While royalty payments have more than doubled, sales for these companies grew by only 70% over the same period.
The top 25 companies paid on an average 25% of the profits as royalty with Maruti topping the list of royalty paying companies, followed by ABB, Nestle, HUL and Bosch. IIAS also says there are four companies that have not paid dividend for the last few years, but continue to pay royalty. These include 3M India, Timken, Whirlpool and Asahi India who paid Rs 385 crores in royalty since FY08, excluding a one time dividend paid by Timken in FY12.
IIAS claims that companies camouflage royalty payments under various heads and hence want to standardise the categories of payments to bring in transparency and clarity.
Also read: Govt lowers growth forecast, says on track for deficit
"HSBC list of accounts is being investigated by the Income Tax (I-T) department and other departments," finance minister P Chidambaram said during a discussion on the Prevention of Money Laundering (Amendment) Bill in the Rajya Sabha. The case of money laundering, he said, would arise only if there was a predicate offence whose proceeds were used for money laundering purposes.
The government had earlier in June, 2011 received information from France relating to certain bank accounts reportedly held by certain individuals/non- individuals in the Geneva branch of HSBC bank.
The I-T department has also initiated the exercise to obtain more information with regard to account holders from foreign governments. "Appropriate action has been taken in these cases and further action, including assessment, tax collection and levying of penalty as per the provisions of the I-T Act, 1961 depending on the facts in every case will now be taken up," a government statement had said.
It was also pointed out that the information received from the French government was covered by the confidentiality clause under the Double Taxation Avoidance Convention (DTAC) between the two countries and could only be used only for the specified tax purposes. According to media reports, India had received data of over 700 HSBC accounts from the French government.
The issue was also raised by social activist Arvind Kejriwal who had alleged that about Rs6,000 crore belonging to powerful business houses and influential individuals were lying in the HSBC bank accounts.
The shares will be sold through Offer for Sale (OFS) on December 19, R-Power said in a regulatory filing. Reliance Infrastructure Ltd, Reliance Innoventures Pvt Ltd and AAA Project Ventures Private Ltd will together sell more than 15.21 crore equity shares, making up about 5.42 per cent stake in the company.
At the end of September 2012, promoters held 80.42 per cent stake in Reliance Power. Capital market regulator Sebi has asked all private sector listed companies to have minimum public shareholding of 25 percent by June 2013.
About 200 companies are estimated to be required to meet the norms. These firms would need to sell shares worth around Rs 30,000 crore to be in compliance with the regulations.
Some of the companies where the promoter holding was more than 75 per cent at the end of July-September quarter included DLF , Jet Airways , Wipro , Tata Communications , Tata Tele , Sun TV , L&T Finance , Omaxe and Fortis Healthcare . R-Power scrip closed flat at Rs 100.10 on the
Mon, Dec 17, 2012 at 21:02
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VCs of open varsities of India and Pak to meet tomorrow
VCs of open varsities of India and Pak to meet tomorrow
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VCs of open varsities of India and Pak to meet tomorrow
VCs of open varsities of India and Pak to meet tomorrow
Islamabad, Dec 17 (PTI) Seeking to promote distance learning and boost bilateral cooperation in the education sector, the Vice-Chancellors of two top open universities in India and Pakistan will meet tomorrow and share their experiences. Allama Iqbal Open University Vice-Chancellor Nazir Ahmed Sangi will meet Indira Gandhi National Open University Vice-Chancellor Gopinath Pradhan in New Delhi tomorrow to share experiences on promoting distance learning systems. Sangi is currently on a four-day visit to India to attend a meeting of the Advisory Council of the Commonwealth Educational Media Centre for Asia. During the meeting with Pradhan, Sangi is expected to share their experiences and expertise on promoting education through distance learning. This may be a "good beginning for bilateral cooperation between the two countries in the education sector at the level of open universities", said a statement issued today by Allama Iqbal Open University. The Commonwealth Centre was established by the Commonwealth of Learning at Vancouver in Canada for the cooperation among Asian countries of the Commonwealth in educational media resources. It also works to enhance capabilities of Asian countries in distance teaching. PTI RHL KND KND
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Mon, Dec 17, 2012 at 21:02
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Para-medical student gang-raped in bus, battles for life
Para-medical student gang-raped in bus, battles for life
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Para-medical student gang-raped in bus, battles for life
Para-medical student gang-raped in bus, battles for life
New Delhi, Dec 17 (PTI) A 23-year-old para-medical student was battling for life today after she was allegedly raped and brutally assaulted by four men who also attacked her male friend and threw both of them out of the vehicle, in yet another shocking crime against women in the capital. The victim, who pursues the course in Uttarakhand and is in the capital for her internship, is in a "critical condition" at the Safdarjung Hospital where she was rushed late last night after the incident which sparked outrage. Both the girl and her male friend, who had boarded the chartered bus with tinted glass windows from Munirka in south Delhi around 9.45 PM to Palam, were assaulted with an iron rod by the men after the two resisted before they were dumped on the road side near Mahipalpur flyover, police said today. Police have identified four people, who allegedly raped the girl, and have already prepared sketches of two of them. Police also released CCTV footage of the suspected bus with an appeal to the public to help them locate the vehicle. Chhaya Sharma, Deputy Commissioner of Police, South, told reporters, that both the girl and boy had "put up a fight" with the men. She said the bus which the duo boarded was not in commercial service and they were picked up by the driver from Munirka bus stop for Rs 10 each to be dropped at Palam. "When they boarded the bus, there were a few other men as well in the vehicle. There was an argument between the male friend and others...As of now, we can confirm the involvement of four men. They beat them up brutally using iron rods," she said. She also said seven people appeared to be inside the bus but only four were involved in the incident. Sharma said both victims are under treatment and police got some clues from the male friend. The police official said the cops came to know of the incident after the victims were dumped near Mahipalpur flyover. They were rushed to AIIMS from where the girl was shifted to Safdarjung Hospital. (More) PTI ETB RT
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The new rates would be applicable from December 18, 2012, it said. Earlier in October, Oriental Bank of Commerce and Bank of India had lowered term deposit rates for select maturities. Shares of Allahabad Bank today ended at Rs 162.55 apiece on the BSE, up 0.65 per cent from the previous close.
The announcement by Water Resources Minister Sunil Tatkare came a little over a fortnight after a government 'Whitepaper' virtually gave a clean chit to senior NCP leader Ajit Pawar, paving the way for his return as Deputy Chief Minister earlier this month. "The SIT probe will be headed by Madhav Chitaley, an irrigation expert, and the terms and references of the probe would be finalised by December 31," Tatkare told the House.
A determined Opposition had blocked the proceedings of the legislature seeking an inquiry by SIT into a multi-crore scam in various irrigation projects, particularly in the drought-prone Vidarbha region.
Leader of Opposition Eknath Khadse, while welcoming the SIT probe, demanded that the SIT's terms and references be made public and that officers allegedly facing corruption charges be kept out of the probe team.
MNS group leader Bala Nandgaokar and PWP's Ganpatrao Deshmukh also welcomed the probe and demanded its conclusion within a time frame.
Khadse said since PILs were pending before the High Court over the alleged scam, the government should inform it about the proposed SIT inquiry and seek court's guidelines on how to go about it.
Tatkare informed the House that the inquiry will not pose any hurdle in completion of pending projects. A week after the 'whitepaper' virtually gave a clean chit to Ajit Pawar, nephew of NCP chief and Union Agriculture Minister Sharad Pawar, the former was sworn in as Deputy Chief Minister on December 7
The report is an indicator of HCL's progress and outcomes in the corporate sustainability areas and has been created as per the A+ application level and externally assured by DNV, HCL Technologies Vice-Chairman and CEO Vineet Nayar said.
It is aligned to requirements of Business Responsibility Report in compliance with Ministry of Corporate Affairs' National Voluntary Guidelines on Social, Environmental and Economic Responsibilities of Business, he said.
The sustainability report not only highlights relevant data and numbers, but also showcases how HCL has continued to leverage its core competencies, Nayar said. "I am confident that going forward we will continue to walk this journey to ensure that sustainability performance remains an intrinsic part of HCL's corporate and business strategy," Nayar said.
The report has drawn inspiration from five elements of the nature of atmosphere like fire, water, earth and wind and their characteristics for the sustainability journey, he said.
"In FY12, our absolute emission reduction over the 2010-11 was 20,566 tCO2 and we reduced per capita emissions by 17 percent for the same period," HCL Technologies AVP (Diversity & Sustainability) Srimathi Shivashankar said.
The GRI framework serves as a generally accepted framework for reporting on an organisation's environmental and social performance, he said. It covers the performance of all the business units of HCL and reflects significant economic, environmental and social impact that can substantially influence the assessments or decisions of the stakeholders, he said.
By Alister Doyle, Environment Correspondent
OSLO (Reuters) - The amount of land needed to grow crops worldwide is at a peak and an area more than twice the size of France can return to nature by 2060 due to rising yields and slower population growth, a group of experts said on Monday.
The report, conflicting with U.N. studies that say more cropland will be needed in coming decades to avert hunger and price spikes as the world population rises beyond 7 billion, said humanity had reached what it called "Peak Farmland".
More crops for use as biofuels and a shift towards more meat consumption in emerging economies such as China or India - demanding more cropland to feed livestock - would not offset a fall from the peak driven by improved yields, it calculated.
If correct, the land freed up from crop farming would be some 10 percent of what is currently in use - equivalent to 2.5 times the total area of France, Europe's biggest country bar Russia, or more than all the arable land now farmed in China.
"We believe that humanity has reached Peak Farmland, and that a large net global restoration of land to nature is ready to begin," said Jesse Ausubel, director of the Program for the Human Environment at the Rockefeller University in New York.
"Happily, the cause is not exhaustion of arable land, as many had feared, but rather moderation of population and tastes and ingenuity of farmers," he wrote in a speech about the study he led in the journal Population and Development Review.
The report, supplied to Reuters by Ausubel, projected that almost 150 million hectares (370 million acres) could be restored to natural conditions such as forest by 2060. That is also equivalent to 1.5 times the area of Egypt or 10 times Iowa.
It said the global arable land and permanent crop areas rose from 1.37 billion hectares (3.38 billion acres) in 1961 to 1.53 billion (3.78 billion acres) in 2009. It projected a fall to 1.38 billion hectares (3.41 billion acres) in 2060.
LAND SCARCER
A June 2012 report by the U.N.'s Food and Agricultural Organization (FAO), however, said that a extra net 70 million hectares of land worldwide would have to be cultivated in 2050 compared to now: "Land and water resources are now much more stressed than in the past and are becoming scarcer," it said, referring to factors such as soil degradation and salinisation.
Ausubel's study admits to making many assumptions - rising crop yields, slowing population growth, a relatively slow rise in the use of crops to produce biofuels, moderate rises in meat consumption - that could all skew the outcome if wrong.
It also does not factor in major disruptions from climate change that U.N. studies say could disrupt farm output with rising temperatures, less predictable rains, more floods, droughts, desertification and heatwaves.
Still, it points out that both China and India have already spared vast tracts of land in recent decades.
In India, for instance, wheat farmers would now be using an extra 65 million hectares - an area the size of France - if yields had stagnated at 1961 levels. China had similarly spared 120 million hectares by the same benchmark.
The authors said that the idea of "Peak Farmland" was borrowed from the phrase "Peak Oil", the possibility that world use of petroleum is at its maximum.
The study also projected that world corn yields would rise at a rate of 1.7 percent a year until 2060, against a 1.8 percent annual gain from 1983-2011. That would raise world corn yields by 2060 to roughly the current U.S. average, it said.
It said that biofuels were a wild card in calculations. The study concluded that non-food crop production - for instance not just sugar or corn used as fuel but also the likes of cotton and tobacco - was likely to exceed growth in food supply until 2060.
Growth of all crops would outstrip food supply by 0.4 percent a year until 2060, up from 0.24 percent a year from 1961-2010, it projected. That indicated a continued, but not spectacular, rise for biofuels.
Changing diets were also a big uncertainty as the world population headed towards about 10 billion and grappled with simultaneous problems of obesity and malnourishment. But there were some encouraging signs, the report found.
Meat consumption in China was only rising moderately, far below rates of economic growth. "Fortunately for the sparing of cropland," it said of world trends, "Meat consumption is rising only half as fast as affluence."
(Reporting By Alister Doyle; Editing by Alastair Macdonald)
The disinvestment proceeds go into the National Investment Fund (NIF), which is beyond the Consolidated Fund Of India. The NIF right now is managed professionally by fund managers including asset management companies (AMCs) of LIC, UTI and SBI .
The finance ministry is proposing to bring the NIF into the Consolidated Fund Of India, and relieve these fund managers of their responsibility. Sources add that this will increase the government's kitty allowing the government to borrow less annually and ultimately help reduce the fiscal deficit.
Sources indicate that the finance ministry in a note moved in November proposes to use the disinvestment proceeds for recapitalisation of banks and insurance companies. In FY14 alone, PSU banks will be requiring recapitalisation of a little over Rs 17,000 crore.
The other reason for the proposed move, sources explains, is that the finance ministry has been facing criticism for selling the family silver to take care of the grocery bills.
The government's other proposals include subscription to the rights issues of PSU companies as well as to preferential allotment of PSU banks to ensure that the state's holding stays at 51 percent.
Also read: Uninor to shut operations in Kolkata, West Bengal
"My dream will only come true when we will provide people of India with that (Google) kind of platform and I hope before 2014 a blueprint of that kind of platform is laid on the table for me to sign on so that future is cast in stone. This is my dream and vision," Sibal said while inaugurating National Data Centre (NDC) spread over 60,000 square feet area here.
He said he always has a question in his mind that, why is India not having a Google-like platform instead of the existing system where people have to access the website of each ministry for information.
The Minister said there should be one common platform for providing all kind of services that can be provided through Internet.
Meanwhile, officials from Department of Electronics and Information Technology said they are working on another project to create a new data centre spread over 2 lakh square feet to address future requirement after space in the NDC, launched today, is exhausted.
The Minister on the occasion launched Dial.Gov web portal which citizens can use to access information regarding his/her eligibility for benefits from various government-run schemes.
At present, the Dial.Gov can provide information on scholarship schemes of Ministry of Human Resource and Development, Social Justice and Empowerment, Tribal Affairs, Minority Affairs, Science and Technology and some schemes from state governments.
Sibal also asked various departments under his ministry to collaborate and set up a common facility. "Why should be there so many data centres. There is no need to set up separate data centre when you have only one purpose," Sibal said.
The Minister said that departments should create campaign to make people aware of the kind of information and data government is hosting on its data centres.
He said National Informatics Centre which has worked to create NDC should have a new unit that should collaborate with private sector, specially small and medium scale businesses, to create software.
Sun Pharma arm to buy Takeda's US-based generics subsidiary New Delhi, Dec 17 (PTI) Drug major Sun Pharmaceutical Industries today said its arm Caraco Pharma will buy Japanese drug maker Takeda Pharmaceuticals' US-based generics subsidiary URL Pharma.
Caraco Pharmaceutical Laboratories has entered into a definitive agreement with Takeda Pharmaceuticals US Inc, a wholly-owned subsidiary of Takeda Pharmaceutical Co to buy the URL Pharma Inc's generic business, Sun Pharmaceutical Industries said in a statement.
It, however, remained silent on the financial details of the deal. "Upon completion of the purchase, the non-Colcrys (colchicine, USP) generic assets of URL Pharma will be owned and managed by Caraco," it added.
The deal is subject to satisfaction of customary closing conditions, including applicable regulatory approvals, Sun Pharma said. URL Pharma is a former privately-held Philadelphia-based pharmaceutical company acquired by Takeda America Holdings, Inc in June, 2012.
Shares of Sun Pharmaceutical Industries today closed at Rs 720 apiece on the BSE, up 0.47 per cent from their previous close.
REUTERS - Fans who "hijack" matches with bad behaviour should be handed life bans, English FA chairman David Bernstein said on Monday.
The FA chief spoke in the aftermath of Sunday's heated Manchester derby which saw United defender Rio Ferdinand struck by a coin thrown from the crowd and nine others charged by police in connection with the match.
Images of Ferdinand's bloodied face cut-open just above the eyebrow and City keeper Joe Hart holding back a fan who had invaded the pitch following Robin van Persie's stoppage-time winner to confront Ferdinand have been published around the globe tarnishing what was a thrilling encounter.
"I think it's disturbing that we are seeing a recurrence of these sorts of incidents. We've had some racial abuse issues... we've had things being thrown at players. They are unacceptable and they have to be dealt with severely," Bernstein told Sky Sports.
"In my mind it's for the FA, it's for the whole game of football and for the authorities to work together to deal with this in the most severe manner.
"I believe that if necessary life bans for these people who need to be caught, go to the courts and be banned for life if and when they are found out."
Bernstein said "copy-cat" behaviour had a role to play in crowd trouble.
"It's a difficult social problem. You have something happen and other people tend to copy it," Bernstein said.
"Therefore it's really important that matters are bought to a head and people understand there is no room for this in football at all and we will do everything we can within the FA. I know the rest of football feel the same way to deal with these matters it's a blot on the game.
"It's very disappointing when you think of the millions watching football every week, or being involved in football, to see it being hijacked by these incidences is awful so we have to deal with it in the strongest way we can."
On the incident involving Ferdinand, Bernstein added: "Totally unacceptable and deplorable to see those incidents obviously Rio Ferdinand with blood on his face is absolutely terrible."
City have apologised to the centre back, who attempted to make light of the incident on Twitter.
"Whoever threw that coin, what a shot! Can't believe it was a copper 2p... could have at least been a £1 coin!," he said.
Greater Manchester Police say they are still working with the Premier League champions to identify who threw the coin.
(Reporting By Mark Pangallo; editing by Toby Davis)
LONDON (Reuters) - World number one Rory McIlroy won the 2012 European Golf Writers Trophy on Monday after a spectacular season during which he landed his second major title and topped the money-list on both sides of the Atlantic.
The 23-year-old Northern Irishman, who added the U.S. PGA Championship to the U.S. Open crown he bagged in 2011, finished ahead of Europe's triumphant Ryder Cup team in the voting.
"Wherever we play the golf writers are there helping to promote our sport and give a voice to golf and therefore I am delighted to win their award," he said in a statement.
"I hope to give them plenty more good things to write about in 2013," added McIlroy who claimed a total of five tournament victories this year. (Writing by Tony Jimenez; editing by Julien Pretot)
By Norihiko Shirouzu
BEIJING (Reuters) - Zhejiang Geely Holding Group has signed a deal with Volvo Car, which Geely acquired in 2010, allowing the Chinese auto maker to tap some technologies Volvo plans to phase out over the next couple of years.
Geely said on Monday it had signed three "technological cooperation agreements" with Volvo, giving it access to mid-size vehicle platform or underpinning technology, interior air quality, and safety technology. It did not elaborate.
The deals follow an announcement in March by the two firms agreeing to discuss specific ways Geely could tap technology the Swedish arm plans to phase out over the next few years.
Zhejiang Geely Holding Group is parent of Hong Kong-listed Geely Automobile Holdings Ltd. <0175.HK>
The agreements could provide a lift to Geely's vehicle engineering abilities and help the two companies cut costs, but it also creates delicate questions about the possible dilution of Volvo's brand.
In a press release, Geely pointed to "synergies" in the technology sharing.
"Volvo Car enjoys a leading advantage in a number of technologies ... These technologies and experiences are valuable to Zhejiang Geely Holding Group's exploration into overseas market and its product quality improvement," it said.
In return, "Zhejiang Geely Holding Group's local market exploration experience and cost control experience can also be beneficial to Volvo Car's exploration in the Chinese market and increase in competitiveness," it said.
Geely did not mention specific ways it plans to use the technology from Volvo. However, Geely's founder and chairman, who is now also chairman of Volvo, has said previously Geely planned to develop a "premium" Geely brand of car using in part technology from its Volvo unit.
In an interview with Reuters in April, Li said one area of collaboration might be to use Volvo's in-car air-filtering-and-control technology.
"Air pollution in China is quite severe," he said, "so we want to have that technology transferred to Geely to improve the in-car air quality of Geely cars to make it more like air you breathe in the forest." (Reporting by Norihiko Shirouzu; Editing by Mark Potter)
IIM Lucknow's performance on LIME however, has dropped over the years. It did quite well in season 1 finishing at 4th place but slipped down to 7th in season 2 and ended season 3 at the very last position. So we will pay closer attention to this year's team to see how hard they work on improving their institute standing.
IIM Lucknow's challenge is very food is delight. It comes from specialty restaurants that own popular chains, Mainland China, O Calcutta and Sigri. This case it is about its flagship brand Mainland China. In this edition of LIME, watch students of IIM Lucknow fight it out to showcase their Chinese food prowess.
To know more, watch videos.
Also Read: Walmart under ED lens for alleged FEMA violation: FinMin
Though the issue did not figure in the Lok Sabha today, the Opposition has decided to rake it up there tomorrow. "It is a very very serious issue. It has been raised in Rajya Sabha today. We propose to raise it in Lok Sabha tomorrow," senior BJP leader Yashwant Sinha told reporters. When pointed out that lobbying is not illegal in the US, the former External Affairs Minister said, "I know it is allowed in the US. But the laws of the two countries are different. Lobbying in the US does not mean corruption but in India, it does. That is the difference. There is illegality."
Earlier, Ravishankar Prasad (BJP) raised the issue in the Rajya Sabha during the Zero Hour. He said apprehensions were raised earlier also about Wal-Mart spending huge money to lobby for entering the Indian market and that it has now been proved true. He was supported by members of other opposition parties. Bharti Wal-Mart issued a statement, saying the opposition allegations of corruption are "entirely false". It said the amount mentioned in its disclosure is a "compilation of expenses associated with staff, association dues, consultants and contributions spent in the US."
The Wal-Mart lobbying issue brought back into focus the decision on FDI with Opposition uniting even as motions brought by it got defeated in both Houses last week with government securing numbers with the help of BSP and SP. Prasad said that Wal-Mart has in its lobbying disclosure report to the US Senate said it has spent Rs 125 crore on lobbying and USD three million have been spent in 2012 itself for entering the Indian market.
"Lobbying is illegal in India. Lobbying is a kind of bribe. If Wal-Mart has said that hundreds of crores of rupees were spent in India, then it is a kind of bribe. Government should tell who was given this bribe. This raises a question mark on the implementation of FDI in retail," he said. The BJP leader was supported by TMC leader D Bandopadhyay who waved a newspaper report and CPI-M member P Rajeeve who demanded an "independent inquiry" into the whole episode alleging that there are some reports saying Wal-Mart invested money even before FEMA was amended.
"This is bribery," he said as the Opposition members shouted slogans in favour of withdrawing FDI. Amid din, SP members trooped into the Well shouting slogans against the government's move to bring reservation in promotion for SCs/STs. Government has listed the Constitution (117th Amendment) Bill, 2012 for this purpose in the House.
Earlier, Minister of State for Parliamentary Affairs Rajiv Shukla assured the members that he would bring the matter to the notice of the minister concerned. This was, however, rejected by the Opposition which insisted on a response from the Prime Minister. T Siva (DMK) was also on his feet. Minister of State in PMO V Narayanasamy was heard saying "what more they (the Opposition) want, when he (Shukla) has said that he will bring it to the notice of the minister concerned". While BSP members kept seated, those from SP were on their feet joining the issue with BJP and Left.
The court passed the order on December 5 on Aircel's plea challenging the September 24 order of the TDSAT, which had dismissed its plea against Bharti Telecom. The bench, however, made it clear that the payment to be made by the appellants to the respondent would remain subject to final adjudication of the appeal. SMS termination charges have been a contentious issue between new players and established players. Tata Teleservices has also appealed against Bharti Telecom's decision to charge 10 paise per SMS termination. SMS termination charges are paid by an operator from whose network calls or SMSes originate to the one on whose they end.
Also Read: Tax impact of receiving pension
HDFC Life Pension Super Plus offers assured death benefit of total premiums paid to date accumulated at a guaranteed rate of 6 per cent per annum and an assured vesting benefit of 101 per cent of total premiums paid. The Single Premium Pension Super offers assured benefit of 101 per cent of total premiums paid on death and vesting. The private insurer also launched New Immediate Annuity Plan, a traditional annuity product with a wide range of annuity options that ensures a regular income stream post retirement.
"In India, there has been a paradigm shift in retirement trends and the increase in life expectancy. Individuals opt for retirement as early as at 40-45 years and go on to live beyond 80-85 years. This emerging trend is expected to boost the Annuity market substantially in the next few years, Executive Vice President of the company Sanjay Tripathy said. HDFC Life is a joint venture between Housing Development Finance Corporation ( HDFC ) and Standard Life plc, the leading provider of financial services in the UK.
JERUSALEM (Reuters) - Israel will not backtrack on a settlement expansion plan that has drawn strong international condemnation, an official in Prime Minister Benjamin Netanyahu's office said on Monday.
"Israel will continue to stand by its vital interests, even in the face of international pressure, and there will be no change in the decision that was made," the official said.
Britain, France and Sweden summoned the Israeli ambassadors in their respective capitals to hear appeals for Netanyahu to reverse course and deep disapproval of the plan to erect 3,000 more homes in the occupied West Bank and East Jerusalem.
Israel announced the planned settlement expansion on Friday, a day after the U.N. General Assembly granted de facto recognition to Palestinian statehood over Israeli and U.S. objections.
Such projects in the past, on land Israel captured in a 1967 war and which Palestinians seek for a future state, have routinely drawn world condemnation.
But this plan also included "preliminary zoning and planning work" for settler housing in the so-called "E1" zone east of Jerusalem.
Israeli construction there could bisect the occupied West Bank, potentially cutting Palestinians off from Jerusalem and further dimming their hopes for a contiguous state.
(Writing by Jeffrey Heller, Editing by Douglas Hamilton)
REUTERS - Ricky Ponting is "one of the true legends of the sport" the International Cricket Council (ICC) said of the former Australia captain who ended his test career on Monday.
Ponting, 37, was the most successful test captain in the history of the sport. He played in 168 tests and 375 one-day internationals for Australia and won the ICC World Cup three times, twice as skipper.
"His contribution to the international game has been immense and quite rightly he will be remembered as one of the true legends of the sport," ICC Chief Executive David Richardson said in a statement.
"Ricky was a team man but along the way collected many personal accolades and is the only player to have won the Sir Garfield Sobers Trophy for Cricketer of the Year at the LG ICC Awards for two years in succession (2006 and 2007).
"We wish him well in the next stage of his career and look forward to his ongoing involvement in the game beyond the boundary," Richardson said.
Ponting was out for eight against South Africa in his final test innings as Australia suffered a 309-run defeat in Perth.
However, he finished his 17-year career as the second highest test run scorer behind India's Sachin Tendulkar with 13,378 runs at an average of 51.85.
(Writing by Alison Wildey in London; Editing by Justin Palmer)
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Also Read: BSE identifies 28 scrips for inclusion in 'T' group
Besides, other scrips that would attract a circuit filter of 20 per cent are Shipping Corporation Of India , Bharat Electronics , Container Corporation of India , National Aluminium Company . The exchanges set the circuit filter of a stock as part of their surveillance mechanism in order avoid to excessive volatility in the particular share price.
Chandigarh, Dec 3 (PTI) The Punjab government today announced to raise Dearness Allowance (DA) by 12 per cent for the state government employees and pensioners. Disclosing this in a release here, Punjab Finance Minister Parminder Singh Dhindsa said that the rate of DA has been enhanced from 139 to 151 per cent of the unrevised basic pay with effect from July 1, 2012. Dhindsa said the whole amount on account of enhanced DA due for the period from July 1 to August 31 2012 would be credited to the General Provident Fund account of employees. He said this amount would be deemed as additional amount in the GPF accounts and the interest on this amount would be payable from the first day of the next month. He said from 1st September 1, 2012, enhanced dearness allowance would be paid in cash. The Finance Minister said in case of pensioners, the entire amount on account of enhanced dearness allowance would be paid in cash with effect from July 1, 2012. He said that other conditions for the payment of dearness allowance would remain the same. PTI CHS DKS RAH ns MR
By Ed Stoddard
GOMA, Democratic Republic of Congo (Reuters) - Government forces re-established control over Democratic Republic of Congo's eastern city of Goma on Monday after rebels withdrew, but a senior official said the insurgents were only a few kilometres away and still posed a threat.
The M23 rebel movement pulled its fighters out of the North Kivu provincial capital on Saturday after seizing it from fleeing U.N.-backed government forces and holding it for 11 days.
But the situation remained tense and uncertain in the absence of any definitive peace accord to end the eight-month-old insurgency, which has displaced thousands of civilians in a region that is a tinderbox of ethnic and political conflict.
North Kivu Governor Julien Paluku, who had left Goma when rebels took it on November 20, met Congolese Interior Minister Richard Muyej in a hotel in the city, which is sited among lush green hills on Lake Kivu on the border with Rwanda.
"I have come back here to work like before," Paluku told Reuters, saying his residence was looted during the rebel seizure of Goma. The city's capture triggered an international diplomatic scramble to head off an escalation of the conflict.
Under a deal brokered by Uganda days after Goma's fall, M23 leaders agreed to withdraw to positions 20 km (13 miles) north of the city after Congolese President Joseph Kabila said he was ready to listen to the rebels' grievances.
But Paluku said some M23 units were much closer to the city than had been agreed. "They are in Monigi. It is only 3 or 5 km away. It is not good," he told Reuters.
M23 spokesman Amani Kabasha told Reuters by telephone some rebels were in Monigi, which is on the road north to Rutshuru.
But he said the fighters there would form part of an M23 detachment that would join government troops and a neutral international force to be stationed together at Goma airport - one of the points agreed in the withdrawal deal.
"We are waiting to move our company to the airport. After that we will decide on the line (between government forces and rebels)," Kabasha said.
M23 draws most of its strength from Tutsi former rebels integrated into the Congolese army who mutinied in April.
It has called for talks between Kabila and political opponents, the release of political prisoners and dissolution of Congo's electoral commission, which oversaw Kabila's re-election in 2011 in a vote judged flawed by foreign observers.
Government spokesmen have not confirmed that Kabila is willing to hold such a wide dialogue, and the president faces pressure from within his own armed forces to pursue a military solution against M23. Congo and U.N. experts say the rebels are backed by Rwanda and Uganda, a charge both strongly deny.
Goma's dusty streets were busy, with markets open selling vegetables and smoked fish, and roads choked with traffic.
But banks remained closed. "Things are bad because no one has money to buy my fish," said one woman hawking fish.
In Sake, 30 km (19 miles) west of Goma, several hundred government troops paraded, preparing to re-enter Goma.
Some Congolese soldiers were already back in the city barracks. They milled around the tents and dilapidated buildings and a few smoked on the back of a vehicle.
GRAPHICS
Rebel advance http://link.reuters.com/kuj24t
Cycles of conflict http://link.reuters.com/nav24t
"THOUSANDS STILL AT RISK"
Goma lies at the heart of Congo's eastern borderlands which have suffered nearly two decades of conflict stoked by long-standing ethnic and political enmities and fighting over the region's rich resources of gold, tin, tungsten and coltan - a precious metal used to make mobile phones.
Successive attacks by myriad rebel and militia groups and government soldiers have made the region notorious among rights groups for mass killings, recruitment of child soldiers and rapes used as a weapon of war.
The U.N. humanitarian agency OCHA said at least 130,000 people were displaced and in sites and camps in and around Goma.
"One cannot exclude the risk of looting or renewed violence," the U.N. humanitarian coordinator in Congo, Moustapha Soumare, said in a statement.
U.N. officials said a camp housing some 45,000 people about 15 km (nine miles) outside Goma had been raided by unidentified gunmen late on Friday. Several women were raped and food and supplies stolen.
OCHA's Soumare said thousands more civilians were fleeing attacks by armed groups which were on the rise in other areas of North Kivu, particularly in Masisi.
Neighbouring Rwanda has twice invaded its western neighbour over the past two decades, at one point igniting a conflict dubbed "Africa's World War" that drew in several countries.
Aid agencies say more than 5 million people have died from conflict, hunger or disease in Congo since 1998.
Kigali has justified its interventions by arguing it was forced to act against hostile Rwandan Hutu fighters who had fled to Congo after the 1994 Rwandan genocide that saw 800,000 Tutsis and moderate Hutus killed by Hutu soldiers and militia.
Rwanda's military said on Sunday that FDLR rebels crossed the border from Congo and attacked a game warden camp, killing one warden in what it said was the second raid by the Rwandan Hutu group in six days.
The M23 rebels said they took up arms over what they call the government's failure to respect a March 23, 2009, peace deal that envisaged their integration into the Congolese army. Their name comes from the date of the previous deal.
(Additional reporting Tom Miles in Geneva; Writing by Pascal Fletcher; Editing by Pravin Char)
Mon, Dec 03, 2012 at 21:06
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Govt justifies cash transfer announcement
Govt justifies cash transfer announcement
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Govt justifies cash transfer announcement
Govt justifies cash transfer announcement
New Delhi, Dec 3 (PTI) Government today justified the announcement of its direct cash transfer scheme saying it does not constitute violation of the model code of conduct and does not contain anything new that was not in this year's Budget. In a communication to Election Commission, which had expressed unhappiness over last week's announcement and sought an explanation, the government said the Finance Minister's Budget Speech in March this year had outlined the success of several pilots across a number of states relating to the Aadhar-based service delivery mechanism. This only clearly established that the Scheme had already been partially operationalised even prior to March 2012, the government contended. The BJP had objected to the government announcement and had petitioned the poll authority to set aside the scheme. "The present proposal to extend the pilots to 51 districts across India is the logical next step towards the implementation of this methodology of transferring benefits to at least 50 districts. "This is meant to ensure that the final roll out of Direct Cash Transfers is seamless and smooth. Thus, the proposed pilot in 51 districts is not a new scheme but an extension of the pilot already in place," the communication from the Planning Commission said. It said that recommendations of the Task Force headed by Nandan Nilekani on IT strategy for Direct Transfer of Subsidy were made way back in February 2012. These recommendations were accepted by the Government in March 2012, and were also announced by the Finance Minister in his Budget Speech. "In view of all (the) above, it is stated that the announcement being objected to does not constitute a violation of the Model Code of Conduct," the Planning Commission letter said. (More) PTI SKU SKC VSC
From DJ EU Officials Spain Aid Cap Of 100 Bn Euros 'should Be Enough'
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WASHINGTON (Reuters) - The U.S. Supreme Court on Monday remained silent about whether it will enter the legal fray over same-sex marriage a n d agree to hear one of several pending appeals on the issue.
The court's nine justices met in private on Friday to consider whether to review challenges to the U.S. Defense of Marriage Act, which denies federal benefits to married same-sex couples, and to California's gay marriage ban, known as Proposition 8.
In an "orders list" issued early on Monday, the court made no mention of any of the same-sex marriage cases. The court could reschedule those cases for further consideration at its weekly conference on Friday. The justices sometimes hold especially complex cases for a future conference if they want more time to figure out a course of action.
(Reporting by Terry Baynes in Washington; Editing by Howard Goller and Bill Trott)
OSLO (Reuters) - Norway's Crown Princess Mette-Marit secretly travelled to India in order to care for infant twins born to the surrogate mother of a gay palace employee unable to get a travel visa, the palace said on Monday.
Armed with a diplomatic passport that granted her immediate access, the future queen jumped on a plane in late October when the employee, who is also a friend, and his husband were unable to travel to care for their newborns.
"For me, this is about two babies lying alone in a New Delhi hospital," Mette-Marit said in a statement. "I was able to travel and wanted to do what I could."
She did not alert Indian authorities and spent several days with the babies at the Manav Medicare Centre, where staff assumed the wife of Norway's Crown Prince Haakon was a nanny.
While the princess was away, her name continued to appear in the official palace calendar and her absence from a parliamentary dinner was not explained.
A relative of the two fathers eventually took over from Mette-Marit and the fathers received a visa in November, when they brought the babies back to Norway, the palace added.
Surrogacy is a hotly debated issue in Norway and the government discourages Norwegians from paying surrogate parents for children.
Protestant Norway was the second country in the world in 1993 to register same sex partnerships while same sex marriage has been legal since 2009.
The Crown Princess acknowledged the debate and insisted she is not taking a side and only did what a friend had to do.
"Sometimes life presents you with situations with few good solutions. This was one of those," she said. "There is an important debate doing on about surrogacy and this was not meant as taking a side."
(Reporting by Balazs Koranyi, editing by Paul Casciato)
