Ban Ki-moon unanimously elected for second term as UN chief

The 192-nation UN General Assembly has voted unanimously to elect Ban Ki-moon for a second five-year term as the global body's secretary-general. The assembly unanimously backed the former 67-year-old South Korean foreign minister by acclamation on Tuesday. With no contenders to throw a challenge for the post, the assembly approved the new term by consensus. Ban declared his candidacy two weeks ago and had the formal backing by the Security Council on Friday. All regional groups at the UN also endorsed him.

Ban has termed his re-election as a "very great honour beyond expression."
The UN chief's first term has been a mixed bag of sorts.Ban has faced criticism for not adequately addressing human rights violations in countries like Sri Lanka and China, but has been seen as championing the cause of climate change, women's rights and more recently speaking out against the crackdown on protesters in the Middle East and North Africa.

His role in backing decisive action by the Security Council in Libya and Ivory Coast has also gone down well with the international community.

Ban's re-election was welcomed by US envoy to the UN, Susan Rice.
"No one understands the burden of this role, better than he and my government is grateful that he willing to continue to take them on," she said. "Secretary-General Ban is a leader who listens to the voices of the voiceless," she said.

Among other agendas, the UN chief will oversee 'Rio+20' next year, which is being dubbed as the most important environmental summit in recent times.

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

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PM reviews security situation at high-level meet

In the backdrop of the ever-deepening Pakistan- China Military and strategic nexus, PM Manmohan Singh on Wednesday held a meeting of the National Security Council (NSC) to take stock of the security situation in India and its extended neighbourhood.

The need to rapidly modernize the Indian armed forces, with special focus on development of military capabilities on the eastern front with China, as well as the turmoil in the Af-Pak region is understood to have figured in the meeting. Defence minister A K Antony, finance minister Pranab Mukherjee home minister P Chidambaram national security advisor Gopal Pillai and the three Service chiefs, among others, participated in the meeting.

The three-tier NSC consists at the apex level of Cabinet ministers, headed by the PM, with subordinate entities like the Strategic Policy Group, the Joint Intelligence Committee and the National Security Advisory Board.

As reported earlier by TOI, India is now taking steps to counter China's massive build-up of military infrastructure all along the 4,057-km Line of Actual Control (LAC).

They range from deployment of Sukhoi-30MKIs and spy drones in the North-East to the raising of two new mountain infantry divisions (over 35,000 soldiers), with their HQs in Zakama (56 Div) in Nagaland and Missamari (71 Div) in Assam.

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

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Govt orders security audit of vital installations

The Centre has ordered security audit of all vital installations, including nuclear stations, oil refineries and military bases, across the country. The order has been issued after a high-level meeting held by the Union Home Ministry following the last week's terrorist attack on a naval base in neighbouring Pakistan.A joint-team of Intelligence Bureau and local security heads will survey and assess the level of security of the vital installations.

All nuclear plants, ISRO installations, oil refineries and airports will be covered in the audit. Any gaps in the security, if found, will be identified and plugged while Quick Reaction Teams are to be formed wherever they do not exist. All states and security forces have also been asked to intensify vigil around the vital installations and military camps and foil any attempt by militants to disturb peace," an official said.

Additional forces will also be deployed in public and religious places to prevent any sabotage attempt, the official said.

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

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ONGC: Subsidy burden takes a toll; stock down

Government-owned ONGC reported more than 60% sequential decline in net profit in January-March as it gave away about two-third of its oil revenues to subsidise losses of retailers amid soaring crude prices, reviving memories of fiscal 2008-09 when global crude peaked pushing up subsidies on fuel.

At 9:40 am, shares of ONGC were trading 1.31 per cent down at Rs 274.75 on the Bombay Stock Exchange . The huge sequential fall in earnings stands in sharp contrast to private sector explorers such as Cairn India, which reported 22% growth in net profit helped by higher prices even though production fell.

ONGC's share in subsidy at Rs 12,135 crore in the fourth quarter was almost equal to the total of past three quarters. This took the total subsidy toll to Rs 24,892 crore for fiscal 2010-11, more than double than previous year. n January-March, although ONGC earned an average oil price of $108.90 per barrel, it ended up with just $38.75 in hand as the government took away the rest. What remained was nearly 25% below the year-ago period causing a 26% fall in net profit.

The company reported net profit of Rs 2,791 crore in the last quarter driven by higher profits on natural gas, whose prices were revised in fiscal 2010-11, and increasing share of production from joint ventures. As there is no subsidy burden on production from joint ventures, the 60% incremental volumes helped.

Although oil prices have jumped more than five times since 2004-05, ONGC's average profit growth has been a mere 6.5% per annum. The average annual growth in its market capitalisation was just about 4.5%. Every year, the government has taken away a chunk of its profits to pay for losses made by oil marketing companies.

The subsidy sharing mechanism and its value-destructing impact will keep weighing on investor sentiment. The government is expected to divest its stake further in the company in early July.

This could induce the government to introduce some reforms for a better price. Investors, who are otherwise living off the annual dividend payouts, may look forward to a run-up in prices if the follow-on offer materialises.

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

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IIPM ranked No 1 B-School in India
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IIPM: Management Education India
Prof. Rajita Chaudhuri's Website

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Commute Bhullar's death sentence: Amarinder

After SAD sought the PM's intervention in showing mercy to Khalistan militant Devinder Pal Singh Bhullar, former Punjab Chief Minister Amarinder Singh on Sunday favoured commuting his death sentence to life in prison.

President Pratibha Patil on May 26 rejected the mercy petition of Bhullar, a member of Khalistan Liberation Force (KLF).

"I feel killing a man is not going to solve the problem. By killing a man you can't solve the problem," Amarinder, who is also President of Punjab Congress, told reporters here.

With Punjab set to have Assembly elections early next year, Amarinder said that his views were in his personal capacity and not that of the party.
While asserting that there was no doubt about the crime committed (by Bhullar), Amarinder maintained it was his personal view, and said "let him (Bhullar) stay in jail forever and give him life sentence".

He pointed out that Bhullar was already in jail for ten years, of which the militant spent eight years under death row. These factors should have been taken into consideration while taking final decision on his mercy petition, he said.

"I cannot comment on other cases. The matters are sub-judice," he said, when asked about his stance on similar other cases.

He said that in Bhullar's case the judicial process had been completed.

On SAD seeking the Prime Minister's intervention, Amarinder said he was not aware about it.

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

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IIPM B-School Detail
IIPM makes business education truly global
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Arindam Chaudhuri (IIPM Dean) – ‘Every human being is a diamond’
Arindam Chaudhuri – Everything is not in our hands
Planman Technologies – IT Solutions at your finger tips
Planman Consulting
Arindam Chaudhuri's Portfolio - he is at his candid best by Society Magazine

IIPM ranked No 1 B-School in India
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IIPM: Management Education India
Prof. Rajita Chaudhuri's Website

IIPM B-School
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Planman Consulting

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IIPM: Indian Institute of Planning and Management