S.Korea to restart one of two troubled reactors this week

 South Korea will restart one of two nuclear reactors this week after being shut for nearly two months to replace parts which were found to have forged documents, easing power supply concerns as winter bites, the nuclear regulator and operator said.

The State-run Nuclear Safety & Security Commission said in a statement on Monday that it had approved the restart of a 1,000-megawatt (MW) reactor in Yeonggwang county, 300 km (186 miles) southwest of the capital Seoul.

A spokesman at Korea Hydro & Nuclear Power, state-run Korea Electric Power Corp's subsidiary that runs the country's nuclear industry, said the reactor is expected to fully supply power within this week.

South Korea's nuclear sector has been involved in a series of minor incidents and a scandal over forged certificates for parts used in what the government insists are non-essential operations - events that led to the closure of two reactors.

The commission has not yet decided when to approve the restart of the second reactor and is still discussing the issue with local residents, its officials said.

The commission has been investigating all 23 reactors to see if they were supplied with parts with fake quality documents and whether there are any safety concerns.

South Korea, Asia's fourth-largest economy, depends heavily on oil and gas imports but its nuclear reactors supply a third of its power.

Of the 23 reactors, four with a combined 3,680 MW power supply capacity remain closed, according to industry data.

Public support for nuclear power remains strong in South Korea despite last year's Fukushima disaster in Japan last year, and Seoul plans to have added another 11 reactors by 2024.

The government has been campaigning nationwide to save energy and avoid power blackouts in the colder than usual winter.

U.S. Secretary of State Clinton hospitalised with blood clot

 U.S. Secretary of State Hillary Clinton was admitted to a New York hospital on Sunday with a blood clot linked to a concussion she suffered earlier this month, the State Department said in an announcement that looked sure to fuel speculation over the health of one of America's best-known political figures.

Clinton, 65, has been out of the public spotlight since mid-December, when officials said she suffered a concussion after fainting due to a stomach virus contracted during a trip to Europe.

"In the course of a follow-up exam today, Secretary Clinton's doctors discovered a blood clot had formed, stemming from the concussion she sustained several weeks ago," State Department spokesman Philippe Reines said in a statement.

"She is being treated with anti-coagulants and is at New York-Presbyterian Hospital so that they can monitor the medication over the next 48 hours," Reines said. "They will determine if any further action is required."

U.S. officials said on December 15 that Clinton, who canceled an overseas trip because of the stomach virus, suffered a concussion after fainting due to dehydration.

They have since described her condition as improving and played down suggestions that it was more serious. She had been expected to return to work this week.

Clinton's illness, already the subject of widespread political speculation, forced her to cancel planned testimony to Congress on December 20 in connection with a report on the deadly attack on the U.S. diplomatic post in Benghazi, Libya.

The attack became the subject of heated political debate in the run-up to the U.S. presidential election in November, and Republican lawmakers have repeatedly demanded that Clinton appear to answer questions directly.

Clinton's two top deputies testified in her place on the September 11 attack in Benghazi, which killed the U.S. ambassador and three other Americans and raised questions about security at far-flung diplomatic posts.

Some Republican commentators have implied that Clinton was seeking to avoid questioning on the subject, suggestions that have been strongly rebutted by State Department officials.

Clinton has stressed that she remains ready to testify and was expected to appear before lawmakers this month before she steps down, as planned, around the time of Obama's inauguration for his second term in late January.

After narrowly losing the Democratic presidential nomination to Obama in 2008, Clinton has been consistently rated as the most popular member of his Cabinet and is often mentioned as a potential presidential candidate in 2016.

Any serious medical concern could throw a fresh question mark over her future plans, although she has frequently alluded to her general good health.

China factory sector strongest since May 2011

 Activity in China's vast manufacturing sector hit its fastest pace in December since May 2011, a survey of private factory managers showed, with a sub-index for new orders pointing to continued strength in the new year.

The final reading for the HSBC Purchasing Managers' Index rose to 51.5 in December, well above the preliminary reading of 50.9 published in the middle of the month and November's final reading of 50.5.

A complementary December survey by China's National Bureau of Statistics, due to be published on Tuesday, is expected to show similar signs of manufacturing strength. Economists polled by Reuters expect the official PMI to show a rise to 51.0 from 50.6 in November, expanding at its fastest pace in eight months.

The HSBC PMI rose above 50, the line that demarcates accelerating from slowing growth, in November for the first time in more than a year.

The survey results fit with a growing consensus that the Chinese economy revved back up in the fourth quarter, after growth slowed for the seventh consecutive quarter to 7.4 percent in the third.

A sub-index tracking new orders showed even more room for optimism, rising to 52.9, its highest level since January 2011.

"Such a momentum is likely to be sustained in the coming months when infrastructure construction runs into full speed and property market conditions stabilise," Hongbin Qu, HSBC's chief economist for China, wrote in a note accompanying the survey.

"This, plus Beijing's reiteration of keeping pro-growth policy in place into the coming year, should support a modest growth recovery of around 8.6 percent year-on-year in 2013, despite the ongoing external headwinds."

In another sign of factory-sector growth, a sub-index tracking output rose to its highest level since May 2011.

The improving economic picture seems primarily linked to domestic demand, as China's export sector continues to grapple with a slowdown in its biggest markets. A new export orders sub-index retreated below 50 in December, after rising into expansionary territory in November for the first time in seven months.

"Infrastructure and housing are picking up, so related sectors like steel and cement are picking up," said analyst Zhang Zhiwei from Nomura International in Hong Kong.

"It's more driven by investment than consumption."

`The Hobbit` rules weekend box office for 3rd week with $10.8b revenue

'The Hobbit: An Unexpected Journey' continued to rule at the box office, staying on top for a third-straight week and capping a record-setting 10.8-billion-dollar year in moviegoing.

According to Sunday studio estimates, despite serious competition from some much-anticipated newcomers, the Warner Bros. fantasy epic from director Peter Jackson, based on the beloved J.R.R. Tolkien novel, made nearly 33 million dollars this weekend.

The movie has now made a whopping 686.7 million dollars worldwide and 222.7 million dollars domestically alone, CBS News.

Quentin Tarantino's spaghetti Western-blaxploitation mash-up 'Django Unchained' came in second place for the weekend with 30.7 million dollars, while 'Les Miserables' came in third with 28 million dollars.

Top 10 movies at the weekend box office were:

The Hobbit: An Unexpected Journey - 32.9 million dollarsjango Unchained - 30.7 million dollarses Miserables - 28 million dollarsarental Guidance - 14.8 million dollarsack Reacher - 14 million dollars his Is 40 - 13.2 million dollarsincoln - 7.5 million dollarshe Guilt Trip - 6.7 million dollarsonsters, Inc. 3-D - 6.4 million dollarsise of the Guardians - 4.9 million dollars

Hundreds of protesters gather at Jantar Mantar in Delhi

Hundreds of protesters have begun gathering at Jantar Mantar, in the heart of the Indian capital, to mourn the death of the 23-year-old gang-rape victim who was cremated here Sunday morning.

Police have imposed prohibitory orders around India Gate and Raisina Hill and barricaded all roads leading to the area, as well as shutting down 10 Metro stations in central Delhi.

Comprising mostly students, the protesters are demanding tougher anti-rape laws.

"We want to carry out a peaceful protest; we want to carry forward the movement. But why do police restrain us from protesting at India Gate?

"We will continue to protest even if they barricade major stretches of roads and shut all metro stations... The police can't stop us from raising our voices," Praveen Pandey, a law student at Jamia Millia Islamia University, told from the protest site.

"We want speedy justice in the gang-rape case. We want strict laws. Till then, we will continue our protest," Deepali Sharma, a student ofAmity University, who came to the protest along with friends, told IANS.

The protesters, including some elderly people, mourned in silence the death of the young woman.

"We will be protesting silently, but if the police become violent, we will also have no other option but to retaliate. We demand a special session of parliament to discuss the issue of rising incidence of rapes in India," Rohit Chahal, state secretary of Akhil Bharatiya Vidyarthi Parishad told.

The 23-year-old gang-rape victim was cremated Sunday morning in secrecy after her body was flown in from Singapore, officials said.

The woman was brutally gang-raped on Dec 16 in a moving bus.

19 killed, 25 injured in Pakistan blast

 As many as 19 people, including four women, were Sunday killed and 25 injured when a militant rammed his explosives-laden vehicle into a convoy of three buses carrying pilgrims in Pakistan's Balochistan province, Geo News reported.

The incident took place in Mastung district when the buses were taking pilgrims from the province's Taftan town to Quetta city.

One of the buses, carrying 43 passengers, was completely gutted, while another was partially damaged in the targeted attack, when the attacker rammed his explosives-laden vehicle into the bus, killing 19 pilgrims and injuring 25 others, said Mastung Deputy Commissioner Tufail Baloch.

Most successful Bond film 'Skyfall' breaks $1bn record at global box office

The latest James Bond film 'Skyfall' has smashed through the 1-billion-dollar mark at the box office, as it continues its record-breaking showing in cinemas worldwide.

The spy adventure has also become the first movie to earn at least 100 million pounds in ticket sales in Britain, the Telegraph reported.

The Sam Mendes-directed film, which was released 50 years after the franchise's first movie 'Dr No' in 1962, has now become the highest earning out of all of the 23 James Bond instalments.

The film's executives announced that it had now earned at least 1 billion dollars (620 million pounds) at the global box office, with 710.6 million dollars (440 million pounds) being made outside of North America.

Despite falling out of the week's top 10 films in the US, the James Bond film is only the third movie to cross 1-billion-dollar mark in worldwide ticket sales this year, after 'The Avengers' and 'The Dark Knight Rises'.

Over the weekend, the film took a further 1.4 million dollars (867,000 pounds) in Britain, bringing its total earnings to 161.6 million dollars, making it the first film to break the 100-million-pound barrier in the UK.

Before 'Skyfall', 'Avatar' was the highest grossing film in Britain, taking more than 94 million pounds at the UK box office during its cinematic release.

Since its release in October, 'Skyfall' has broken several box office records. In its first three weeks of release it grossed more than the combined earnings of the two previous Bond movies, 'Quantum of Solace' and 'Casino Royale'.

India offers incentives to revive merchandise exports

India announced incentives to revive growth in exports on Wednesday as it looks to narrow a trade deficit that has put the country's current account balance and currency under pressure.

As part of the package, the government extended a 2-percentage-point interest subsidy on rupee-denominated export loans for labour-intensive and small-scale industries by one year to the end of March 2014 to cushion the impact of weak demand in developed economies.

Commerce and Industry Minister Anand Sharma also extended the interest subsidy to the engineering sector, which has been the biggest contributor to Indian exports. However, he did not quantify the monetary value of these incentives.

"They are directly linked to productivity, job creation and job sustenance," he said. "A sharp decline in labour-intensive sectors is adversely impacting employment sectors, job creation."

Merchandise exports, which make about one-fifth of India's economy, have grown just once in the last nine months. The underperformance of the sector has exacerbated the pain for Asia's third-largest economy, which is battling its worst slowdown in a decade.

Economic growth for the current fiscal year that ends in March is forecast to be 5.7-5.9 percent, the country's slowest since 2002/03.

Sharma said falling exports were a "matter of concern" that, coupled with a high import bill, had left the country with a worryingly high trade deficit.

India's exports fell by 5.95 percent between April and November from the same period of last year, leading to a trade deficit of $129.5 billion.

That contraction has cast doubt on the government's exports target of $360 billion for fiscal 2012/13.

"Our export performance has also to be viewed in the backdrop of the global slowdown, particularly the developments in Europe," Sharma said. "The (exports) contraction is directly linked to that."

The widening trade gap has swollen India's current account deficit to a record high and pushed the rupee sharply lower.

The current account gap stood at 3.9 percent of gross domestic product (GDP) in the April-June quarter, the latest period for which data are available, slightly lower than an all-time high of 4.5 percent the previous quarter.

Economists at Nomura expect the deficit to have hit a new high of 4.9 percent of GDP in the July-September quarter due to high non-oil imports.

The deterioration in the current account deficit caused the rupee to be one of the worst-performing currencies in Asia this year and increased the country's reliance on volatile capital inflows to fund the shortfall.

Indian markets: best stocks & sectors of 2012

Tata Motors Ltd (TAMO.BO) is the best performer among Sensex stocks in 2012, helped by hopes for a turnaround in the performance of luxury unit Jaguar Land Rover.

Infosys Ltd (INFY.BO) earns the worst performer status among blue chips, given the persistent concerns about global demand for software services. GAIL, down over 9 percent and Bharti Airtel, down 7 percent, are among other losers.

Among other gainers, ICICI, L&T and Maruti shares surged more than 60 percent, while HDFC Bank and Sun Pharma rose more than 50 percent.

Lenders were the top performers among sectors, with the BSE banking index up nearly 57 percent. Real estate and fast-moving consumer goods (FMCG) were the next best sectoral performers.

The RBI has held interest rates steady after a 50 basis points rate cut in April, but eased the cash reserve ratio by 175 basis points in 2012, helping banks improve margins.

The RBI is also expected to cut the repo rate more aggressively next year.

India 6th largest market for contraband cigarettes

At an estimated Rs.2,000 crore, India has become the sixth largest market for contraband cigarettes, casing huge revenue losses to the government and affecting the livelihoods of some five million tobacco farmers, says a study conducted for industry lobby Assocham. It could be a source of terror funding too, adds the study.

"These cigarettes evade the payment of excise, VAT, customs or any other applicable tax and are thus cheaply and attractively priced," says a recent study conducted by reputed research organisation Euromonitor that has a presence in 80 countries.

The legitimate cigarette industry, which was at 109 billion sticks in 2006-07, dropped to about 101 billion in 2010-11. In contrast, the illegal, duty-evaded segment has grown to about 20 billion cigarettes - about 16 percent of the industry, having grown by 82 percent between 2004 and 2011, making India the sixth largest illicit cigarettes market in the world.

Euromonitor estimates that illicit cigarette volumes in India will further grow and contribute more than 23 percent of the total industry size by 2016.

It says that "the vast majority of smuggled cigarettes in India are king size cigarettes, which retail at Rs.80 per pack of 20 cigarettes". The duty evasion therefore, is the highest in this segment.

According to the study, "the size of the contraband cigarettes market in India is about Rs.2,000 crore per annum and is threating the livelihoods of five million tobacco farmers. The problem of contraband cigarettes is especially severe in urban markets, but it is also endemic to India as a whole".

Since the contraband cigarettes do not use Indian tobaccos, "this aggravates the adverse situation faced by Indian tobacco farmers and threatens their livelihood".

"The growing share of illegal, contraband cigarettes has been responsible for significant erosion in demand for good quality Indian tobaccos, used by the domestic legal industry. It has been well documented by the WHO as well as the international media that international cigarette MNCs, faced with declining sales in their home markets, are seeking to expand their business in developing countries," the study says.

Significantly, the smuggled cigarettes do not carry the Graphical Health Warnings mandated by the Cigarettes and Other Tobacco Products Act (COTPA) "thus endangering the tobacco control policy of the government".

"In the absence of printed MRP on the pack of contraband cigarettes, smugglers and agents of the trade make a handsome margin. In cities like Mumbai, Delhi, Pune, Bangalore and Hyderabad, trade in contraband cigarettes is conducted with brazen openness: a variety of smuggled brands are found at almost every cigarette selling outlets and consumers can find their smuggled brand of choice with ease," the study says.

Contraband cigarettes are smuggled into India from China, Myanmar, Bangladesh, Indonesia, Pakistan, the Gulf, Southeast Asian countries and even Europe.

Banks' loan, deposit growth slower on weak GDP

Indian banks' advances and deposits grew at a slower pace in the first three quarters of the current fiscal year ending in March 2013, compared with the same period a year earlier, data from the central bank showed on Wednesday.

As of December 14, banks' advances grew 5.7 percent, slower than 7.8 percent in the year-ago period, while deposits grew 5.6 percent, compared with 6.5 percent.

"Credit growth is linked to the nominal GDP growth. If we are on a slower GDP growth path, naturally credit and deposit growth will be slower," a senior official with a private bank who did not want to be named said.

The official expects the full-year credit growth to be 14-16 percent. In its second quarter review of the monetary policy, the Reserve Bank of India cut its credit and deposit growth projection by 1 percentage point each to 16 percent and 14 percent, respectively.

India's economy grew 5.3 percent from a year earlier in the July-September quarter, below the 5.5 percent posted for the three months ending in June.

As of December 14, banks' advances stood at 49,626.49 billion rupees, up 0.1 percent from two weeks ago, while deposits were down by 0.1 percent at 64,339.34 billion rupees.

Indian shoved under New York subway train

 Police in New York are searching for a woman who allegedly shoved an Indian immigrant man to his death in front of a train on a New York City subway platform.

The victim was identified as Sunando Sen, 46, of Queens, who had been raised in India and who, after years of toil, had finally saved enough money to open a small copying business this year on the Upper West Side, media reports said.

It was the second time in a month that a man had been pushed under a train in New York.

Police are searching for a woman seen running from an elevated station for the No. 7 train in Queens on Thursday evening, CNN reported Friday citing Deputy Commissioner Paul Browne.

According to witnesses cited by the channel, the woman was pacing the platform and talking to herself shortly before pushing Sen onto the tracks as the 11-car train entered the station. The victim's body was pinned under the second car after it came to a stop.

Police described her as a heavyset woman in her 20s, wearing a ski jacket and sneakers. Security video shows her running from the scene shortly after 8 p.m. Thursday.

Sen's roommate, Ar Suman, 33, told CNN Friday that after living together for over a year they had become like "family."

"I came home and I heard this happened," Suman was quoted as saying, "I am feeling very bad."

Sen owned a shop called New Amsterdam Copies and was a graphic designer for posters, according to Suman.

"He was a very educated person and quite nice," Suman, one of four roommates who shared a small first-floor apartment with Sen in Elmhurst, was quoted as saying by the New York Times. "It is unbelievable. He never had a problem with anyone."

Apple drops 'patent claim' against Samsung Galaxy SIII Mini

Apple has agreed to drop its patent claimsagainst Samsung's Galaxy S III Mini after the South Korean mobile maker said it would not sell the gadget in the United States.

Last month, Apple asked that a series of Samsung products, including the Galaxy S III, be added to the patent infringement suit between the mobile giants.

According to court documents, the iPhone maker has agreed to withdraw the claims without prejudice, the News reports.

"Apple will agree to withdraw without prejudice its request to include the Galaxy S III Mini in this case given Samsung's representation that it is not making, using, selling, offering to sell or importing that product into the United States," the company said in its latest federal court filing.

The announcement is the latest twist in a patent battle between the two tech giants.

Stomach virus rules Nadal out of Australian Open

Rafael Nadal has pulled out of the Australian Open next month due to a stomach virus after missing this week's exhibition event in Abu Dhabi with the same problem.

The 11-times Grand Slam winner has not played since suffering his shock second-round exit at Wimbledon to unheralded Czech Lukas Rosol due to a knee injury, the Daily Mirror reports.

An apologetic Nadal said on Australian Open's official website that he was disappointed to miss out on next year's first Grand Slam.

The Spaniard added that his knee is working properly now but a stomach virus has left him unable to get ready in time to tackle the rigours of a grand slam.

Nadal added that the stomach virus didn't allow him to practice, and added that he didn't wanted to play in the Australian Open without any preparations since he won't be completely fit for it.

The former world number one also revealed that it was a very tough decision for him and he loves the Australian Open especially the Rod Laver Arena.

PM pledges action after gang rape victim's death

Prime Minister Manmohan Singh said on Saturday he was deeply saddened by the death of a woman who had been gang-raped in New Delhi and he pledged to channel emotions surrounding the case into concrete action.

The case had generated "emotions and energies" among young Indians seeking changes in society, he said in a statement after the announcement of the 23-year-old woman's death in a Singapore hospital.

"It would be a true homage to her memory if we are able to channelize these emotions and energies into a constructive course of action."

Gang-rape victim dies, PM says death won't go in vain

A young woman who was brutally gang-raped and tortured in the Indian capital died in Singapore early Saturday. Prime Minister Manmohan Singh said it was up to "us all to ensure that her death will not have been in vain".

The victim, whose name has not been revealed, "passed away peacefully at 4.45 a.m. (2.15 IST)," with her distraught family and Indian diplomats by her side, Singapore's Mount Elizabeth Hospital's Kelvin Loh said.

The 23-year-old woman suffered multiple-organ failure after she was raped by six males, including a juvenile, in a moving bus in Delhi for around 40 minutes Dec 16 and dumped her by a roadside.

Her male friend was also badly beaten up and thrown out of the bus.

All six accused have been arrested and are in Delhi's Tihar Central Jail.

Authorities in India shifted the woman, who had been on ventilator support since her rape, to Singapore Thursday in a last ditch attempt to save her life.

"Despite all efforts by a team of eight specialists in Mount Elizabeth Hospital to keep her stable, her condition continued to deteriorate over these two days," Loh said.

High marks for Michelle Obama, Hillary Clinton in CNN poll

 President Barack Obama's outgoing cabinet received mixed reviews in a new poll, but his wife, first ladyMichelle Obama and Secretary of State Hillary Clinton, still got high marks.

Seventy-three percent of Americans approved of the way Michelle Obama was handling her job as first lady, compared to 20 percent who disapproved, according to CNN/ORC International poll released Wednesday.

Among the causes the first lady has championed since 2008 is the "Let's Move!" programme, designed to combat childhood obesity by encouraging healthier eating habits and exercise. She's also taken on unemployment among America's military veterans through the "Joining Forces" programme, which matches servicemen and women with job search resources.

In the poll, Clinton also received high marks - 66 percent of Americans approved of the job she's doing, compared to 30 percent who disapproved. The poll was taken almost entirely ahead of a scathing report reviewing the September attack on the U.S. diplomatic mission in Benghazi, Libya, which left four Americans dead.

The report cited "systematic failures and leadership and management deficiencies" at the State department Clinton heads.

Another cabinet member, Treasury Secretary Tim Geithner, received lower marks in the CNN poll, possibly because of the uncertain economic situation in the country. Thirty-six percent of respondents approved of the job Geithner is doing at the Treasury, compared with 42 percent who disapproved and 21 percent who were unsure.

China seizes TVs, satellite equipment in Tibetan area

 Chinese authorities have confiscated 3,000 televisions from monasteries in a heavily Tibetan part of the west of the country and dismantled satellite equipment that broadcast "anti-China" programmes, prompted by Tibetan self-immolations in the region.

Some 94 Tibetans, including 81 this year, have set themselves on fire in protest against Chinese rule. Five self-immolations occurred in Tibetan-dominated Huangnan prefecture in Qinghai province, the state-run Qinghai news agency said on Thursday.

The government in Huangnan said its approach in tackling self-immolations comprised of "guiding public opinion on the Dalai issue", increasing patrols and "blocking outside harmful information", according to the news agency, which is managed by the Qinghai government.

"At this critical moment for maintaining social stability in Huangnan prefecture ... (we must) strengthen measures and fully fight the special battle against self-immolations," the article said.

"We do not know anything about it," an official from the Huangnan prefecture government told Reuters by telephone, when asked to confirm the report, before hanging up.

Beijing considers Nobel peace laureate the Dalai Lama, who fledChina in 1959 after an abortive uprising against Chinese rule, a separatist. The Dalai Lama says he is merely seeking greater autonomy for his Himalayan homeland.

The article said the prefecture's agricultural and pastoral areas had relied on certain satellite equipment "to watch and listen to overseas, anti-China programmes".

The local government would invest 8.64 million yuan to install 50 transmitters that would broadcast 70 percent of the prefecture's television channels, the report said.

China has repeatedly denounced the Dalai Lama and exiled Tibetan groups for fomenting the self-immolations.

The United States and several other countries have called on China to end repressive policies and to negotiate with the Dalai Lama.

Cyrus Mistry, humble head of corporate leviathan Tata Group

Cyrus Mistry, who succeeds Ratan Tata Friday as chairman of the the $100-billion Tata Group, is low-profile and meticulous to details -- qualities which are in the perfect mould for India's largest industrial house, those in the know maintain.

A high-powered panel, which included influential British businessman Lord Sushanta Kumar Bhattacharyya who runs Warwick Manufacturing, lawyer Shirin Bharucha, and N.A. Soonawala, vice-chairman of Tata Sons, zeroed in on Mistry after an 18-month search.

On the selection of his successor, Ratan Tata had said that he was impressed by the "quality and calibre" of Mistry's participation on the Tata Sons board and praised his "astute observations and humility".

A commerce graduate from the University of Mumbai, Mistry, 44, has an engineering degree from the Imperial College, London, and a masters in management from the London School of Business.

He brings to his job over two decades of varied experience of managing businesses, ranging from construction to entertainment, to power and finance.

"Be your own man, you should take your own call and you should decide what you want to," Ratan Tata said in a recent interview when asked what he would like to advise if asked by Mistry.

"Just be driven by the fact that every act you do and every move you make has to stand the test of public scrutiny," Ratan Tata advised.

Mistry is the younger son of construction tycoon Pallonji Shapoorji Mistry, who holds an 18.5 percent stake in Tata Sons, the single largest shareholder. Mistry joined the board of Shapoorji Pallonji & Co as director in 1991. Three years later, he was appointed managing director of the group.

Under his stewardship, Shapoorji Pallonji's construction business grew from a turnover of $20 million to almost $1.5 billion.

Mistry also oversaw the diversification of the company from construction to design and building of complex projects in the marine, oil and gas and rail sectors. The group employs over 23,000 people and has a strong presence in India, the Middle East and Africa.

Besides serving as a director at Tata Sons, Mistry also served Tata Elxsi and Tata Power. He is also a senior vice president of production, DQ Entertainment Plc.

He has served as a non-executive director of Forbes Gokak Ltd and was associated with Convergence Media Pvt Ltd as senior vice president, operations and planning, and UTV Toons India.

Mistry is also a trustee of the Breach Candy Hospital in Mumbai and is on the board of the Imperial College India Foundation. Besides, he is on the Board of Governors of the National Institute of Construction Management and Research and is a fellow of the Institute of Civil Engineers.

Known to like golf, he stays in a sea-facing house, also inhabited by his father and elder brother, in Mumbai's upscale Malabar Hill. Born into Mumbai's famous Parsi community, he is married to Rohika, daughter of legal luminary Iqbal Chagla.

He has an elder brother, Shapoor Mistry, while one of his sisters is married to Noel Tata, Ratan Tata's half-brother.

"He loves his underground profile," said Supriya Sule, member of parliament, daughter of union Agriculture Minister Sharad Pawar and a close family friend, describing Mistry. "He has also always been very humble."

President upset over son's 'dented, painted' remark

The remark by President Pranab Mukherjee's son Abhijit that the anti-rape protesters in Delhi were only "dented and painted women" not only evoked criticism from the public, it also angered his own family. Although the Congress MP tendered an "unconditional" apology on Thursday for his comment on a television show on Christmas Day, he had been "spoken to" by his father.

Abhijit had said, "It is fashionable for a section to hold protest marches...They come all dented and painted."

The President reportedly told his son to be careful in future while commenting on such issues.

Even the President's daughter, Sharmistha, apologised for her brother's comment. "This statement does not reflect the values of our family. The way rapes and molestations are increasing across the country we need to protest and all these are spontaneous protests."

Ratan Tata's legacy, Cyrus Mistry's challenge

 As Ratan Tata steps down as chairman of India's largest industrial house Friday, he leaves behind for his successor at Bombay House, Cyrus Mistry, not just a $100-billion empire he helped grow 13-fold in the 21 years at its helm but also a legacy that earned him wide praise as an able corporate leader with values.

Tata joined Tata Group as an apprentice on the shop floor of Tata Steel's Jamshedpur plant in 1962. He took over the top job in 1991, succeeding uncle JRD Tata, at a crucial time when India began its market liberalisation programme and his peers at the "Bombay Group" argued against it and sought a level-playing field for their businesses.

In the more than two decades at the helm, the Cornell-educated Tata not only consolidated the group's business in domestic markets but also expanded it globally, acquiring assets, diversifying businesses and forging new linkages.

In recent years, he conceived and presented to the world the smallest car "Nano". Much before that, in 2008, the Government of India honoured him with its second-highest civilian award, the Padma Vibhushan.

"Ratan has built very adroitly on the grand foundations built by his predecessors, especially JRD. He has not only nurtured the Tata DNA but reshaped it for the new age," Says Bajaj Group chairman Rahul Bajaj.

"The very fact that he is retiring at 75 speaks volumes of his commitment to managing the Tata companies through values," Bajaj added.

Tata Group's market capitalisation, which has some 30-odd listed companies, is now nearly Rs.4.54 trillion ($825 billion), 33 times more than in 1991 when Tata took over the top job. During this period, the group's aggregate sales have increased 43 times, while net profit has grown 51 times.

Tata Group's global expansion started in 2000 with the acquisition of Britain's largest tea firm, Tetley, by Tata Tea, now called Tata Global Beverages.

Since then Tata Group has made several big-ticket global acquisitions, including the purchase of Anglo-Dutch steel maker Corus Group. Tata Steel also acquired Europe's second largest steel maker Corus in 2007 for $12 billion. The company is now called Tata Steel Europe.

Another big acquisition was of iconic British auto makers Jaguar and Land Rover by Tata Motors.

The Group under Tata's leadership also made serveral other acquisitions in the global and domestic markets.

These include acquisition of controlling stake in government-run Videsh Sanchar Nigam Ltd (VSNL) by Tata Sons, purchase of heavy vehicles unit of Daewoo Motors in South Korea by Tata Motors, acquisition of Singapore's NatSteel by Tata Steel and purchase of New York-based The Pierre hotel by Indian Hotels Company.

According to those following the Tata Sons story, it was to Ratan Tata's credit that the group entered new businesses like telecommunications, finance and retail and increased focus on information technology and renewable energy.

At the same time the Group, they add, he led the exit from sectors like cement, textiles and cosmetics, while embarking on new areas. Today, as a result of that, the Tata empire has in its fold the most profitable company in the information technology busines -- Tata Consultancy Services.

Godrej Group chairman Adi Godrej said Ratan Tata leveraged the strength of TCS and Tata Motors while getting out of businesses such as Tata Oil mills and Lakme which were not a strategic fit.

"His clarity of thought and vision for the group has shone through remarkably," said Godrej, who is also the head of industry lobby Confederation of Indian Industry.

Ratan Tata is retiring from the Tata Group's top job as he turns 75, a rule he himself framed. He, however, will remain as chairman emeritus of Tata Sons. Cyrus Pallonji Mistry, 44, who was selected by a panel of eminent people, succeeds him.

Mistry will be the sixth chairman of Tata Group in its 144-year history and only second who does not carry the "Tata" surname. Other people who held the position of chairman of the Tata Group, apart from Ratan Tata, are: Jamsetji Nusserwanji Tata, Sir Dorab Tata, Sir Nowroji Saklatwala and J.R.D. Tata.

Japan's Abe to pick MP Kishida as foreign minister - Kyodo

 Incoming Japanese Prime Minister Shinzo Abewill appoint lower house lawmaker Fumio Kishida to the key post offoreign minister, Kyodo news agency reported on Tuesday, as the government seeks to balance a bolder diplomatic stance with the need to repair frayed ties with China and South Korea.

The hawkish Abe must balance the need to stabilise relations with key trade partner Beijing and U.S. ally Seoul - which have been strained by rows over territory and wartime history - while bolstering Tokyo's alliance with Washington and trying to loosen the limits of the pacifist constitution on the military.

Kishida, 55, entered politics after working at the now-defunct Long-Term Credit Bank of Japan and previously served as a state minister in charge of Okinawa-related issues in Abe's first 2006-2007 cabinet. Previous media reports had said Abe might tap former Foreign Minister Yoriko Kawaguchi for the post.

Abe will formally take office on Wednesday and is expected to quickly form his new cabinet following his Liberal Democratic Party's December 16 landslide election win.

Adnan Sami's new album to be launched in January

Singer Adnan Sami, who became famous for non-film songs like "Bheegi bheegi raaton mein" and "Kabhi to nazar milao", will be back with another album next year.

"I am very excited because first half of January, 2013 my new album will release titled 'Press Play'. I am currently busy with it and it is almost ready," the 39-year-old said here in an interview.

Sami, who has also sung songs like "Salaam-e-Ishq" and "Noor-e-Khuda" for films, returns to the playback zone.

"I have started singing for films again and have recorded 2-3 songs. I am getting back into the playback zone also," he said.

Sami's last private album was "Ek Ladki Deewani Si" in 2009 while his other private albums include "Teri Kasam" and "Kisi Din."

'Twilight Saga: Breaking Dawn (Part-1)' most pirated film at Xmas

'Twilight Saga: Breaking Dawn (Part-1)' became the most counterfeited DVD over the festive period.

The film industry's anti-piracy organisation FACT seized hundreds of thousands of illegal copies of the Robert Pattinson, Kristen Stewart and Taylor Lautner starred movie.

Illegal street and market sales of the flick easily outstripped sales of all other pirated films in Britain, highlighting its popularity, the Daily Mail reported.

According to the annual counterfeit chart, it is for the first time in four years that a 'Harry Potter' film failed to be the most pirated film at Christmas.

Other counterfeit movies highly in demand include, 'Avengers Assemble,' 'The Hunger Games' and 'Brave.'

Top ten most counterfeited DVDs of December 2012 are:

1. Twilight Saga: Breaking Dawn - Part 1

2. Avengers Assemble

3. The Hunger Games

4. Brave

5. Ice Age: Continental Drift

6. The Amazing Spider-Man

7. The Lorax

8. Dark Knight Rises

9. Ted

10. Men in Black 3

Narendra Modi takes oath as Gujarat CM for fourth time

 Narendra Modi took oath as Gujarat's Chief Minister for the fourth time at the Sardar Patel Stadium here on Wednesday.

Governor Kamala Beniwal administered the oath of office and secrecy to Modi.

BJP top brass including Sushma Swaraj, L.K Advani, Arun Jaitley, Nitin Gadkari, Rajnath Singh, Venkaiah Naidu, Ananth Kumar, Ravi Shankar Prasad and Tamil Nadu Chief Minister J Jayalalithaa, Madhya Pradesh Chief Minister Shivraj Singh Chauhan attended the swearing-in ceremony.

Maharashtra Navnirman Sena chief Raj Thackeray, Indian National Lok Dal leader Om Prakash Chautala, former Rajasthan Chief Minister Vasundhra Raje, BJP leaders Shahnawaz Hussain, Mukhtar Abbas Naqvi, Anurag Thakur, Smriti Irani, Prakash Javadekar and Navjot Singh Sidhu were present to witness Modi's crowning moment.

A host of other non-political faces, including Bollywood actor Vivek Oberoi, his father Suresh Oberoi and actor Kirron Kher also present during the swearing-in ceremony.

Having secured an electoral hat-trick, Modi had earlier, thanked the people of the state for giving the BJP another chance to form the government.

Modi praised the voters for exercising their franchise in a mature manner. He said their vote was a signal of their approval for development and further progress in the state.

"I thank the people of Gujarat. People have voted thinking if Gujarat prospers, I will prosper. Gujarat voters have proved that people make their choice based on development and progress. Gujarat's voters are the real heroes today," said Modi.

"The people of state have proved that if a government provides good governance and development to the people, they will forget everything and vote for that government. I promise that they will continue to witness tremendous development and progress in future also," he added.

The BJP bagged 115 of the 182 assembly seats up for grabs, while Congress emerged victorious in 61. The Gujarat Parivartan Party (GPP) of former chief minister Keshubhai Patel bagged two seats. 

PM appeals for calm, expresses sadness at clashes

Reiterating his plea for maintaining peace,Prime Minister Manmohan Singh, in a televised address Monday, assured the government would examine without delay the police response to the savage gang-rape of a 23-year-old woman.

Manmohan Singh expressed sadness over the clashes between protesters and police that have left scores injured and said all steps would be taken to ensure the safety and security of women in the country.

Terming the outpouring of public protest as "genuine and justified anger and anguish" , Manmohan Singh said he felt strongly about the gangrape as "a father of three daughters". He said while anger over the crime is "justified" "violence will serve no purpose".

The prime minister's statement comes as the father of the young woman appealed for peace and also asked people to pray for his daughter, who is in a critical condition in hospital.

"I appeal to all to refrain from vandalism and help the police so that the process of capturing and sentencing the culprits is successful," the father told TV news channels.

The prime minister issued the appeal after the national capital was witness to largescale protests and also violence over the Dec 16 gangrape.

Manmohan Singh said his wife and family were all "joined" in their concern for the young woman.

"As a father of three daughters myself, I feel as strongly about this as each one of you. My wife, my family and I are all joined in our concern for the young woman who was the victim of this heinous crime. We are constantly monitoring her medical condition. Let us all pray for her and her loved ones during this critical time.

"I also feel deeply sad at the turn of events leading to clashes between protesters and police forces. Anger at this crime is justified but violence will serve no purpose. I appeal to all concerned citizens to maintain peace and calm. I assure you that we will make all possible efforts to ensure security and safety of women in this country. The Home Minister has already spoken about the steps being taken.

"We will examine without delay not only the responses to this terrible crime but also all aspects concerning the safety of women and children and punishment to those who commit these monstrous crimes. Our Government will keep you informed of the steps we are taking and the processes we are following.

"I appeal to all sections of society to maintain peace and help us in our effort," was the prime minister's appeal.

Putin visits India, eyes arms sales, trade and political ties

 Arms sales will be on the agenda when Russian President Vladimir Putin visits India on Monday to court a country that has traditionally been a top client.

Putin's trip, his first to India since he started a new Kremlin six-year term in May, is a chance to reaffirm Russia's interest in India, long a regional ally and now a partner in the BRICS group of emerging market nations.

In an article for publication in the The Hindu on Monday, Putin stressed that "deepening friendship and cooperation with India is among the top priorities of our foreign policy".

"India and Russia show an example of responsible leadership and collective actions in the international arena," he wrote, a veiled swipe at the West and in particular the United States, whom Putin accuses of seeking to impose its will on the world.

Russian defence industry sources said the visit could produce deals on the sale of fighter jets and aircraft engines worth more than $7.5 billion. One said that could include the sale of 42 Sukhoi Su-30MKI fighters and a deal on the long-term supply of 970 warplane engines.

The Kremlin said it expected the signing of "a number of large contracts in the area of military-technical cooperation", a term referring to weapons sales, licensing and servicing.

However, warm ties dating back to the Soviet era have been complicated by recent Russian efforts to improve relations with Pakistan, one of Moscow's proxy enemies during the Soviet Union's war of occupation in Afghanistan in the 1980s.

Relations between the world's second biggest arms exporter Russia and India, its largest buyer last year, have also run into sporadic problems including delays in the delivery of a reconditioned Soviet-built aircraft carrier, now expected late in 2013.