US Affairs 11
Eid Celebrations 18
Hazarika Tribute 26
Spiritual Awareness 30
NEW YORK EDITION Vol.4 No.30 November 12-18, 2011 60 Cents Rajaratnam ordered to pay $92.8 M penalty in civil case
NYC Councilman Halloran never rests: Interview Tristate Community, Page 10
Pink City to PBD: ‘Padharo Mhare Des’ By Prakash Bhandari/SATimes Jaipur: Preparations are in full swing for the 10th Pravasi Bharatiya Diwas 2012 which the Pink City would host from January 7 to 9 next year. This event came to Rajasthan because of the initiatives taken by the Rajasthan Chief Minister Ashok Gehlot during the Rajasthan Association of North Americans (RANA) convention in Long Island last year. There Gehlot took an assurance from Minister of Overseas Indian Affairs Vayalar Ravi to let Rajasthan host the PBD which connects more than 25 million overseas Indians in over 110 countries and recognizes Continued on page 4...
Union Minister of Overseas Indian Affairs Vayalar Ravi, accompanied by Rajasthan Industries Minister Rajendra Pareek, releasing a Brochure on Pravasi Bharatiya Diwas -2012 to be held in Jaipur.
TheSouthAsianTimes.info Rahul Gandhi poised for bigger role: Congress India Newswire, Page 12
India, Pakistan unveil 'new chapter', agree on 26/11 justice Addu (Maldives): India and Pakistan Thursday talked about writing ''a new chapter'' in their accident-prone ties, with Islamabad assuring New Delhi that the terrorists behind the Mumbai carnage, that virtually froze relations between the neighbors, will be brought to justice soon. Meeting on the sidelines of the 17th South Asian Association for Regional Cooperation (SAARC) summit here, the two leaders held delegation-level talks for around half an hour in a seaside cottage and followed it up with 45 minutes of one-on-one talks. With relations having languished since the cataclysmic
Ravi Batra weighs in on Rajat Gupta case New York: Not long ago, Rajat Gupta was straddling the worlds of international business and philanthropy in both America and India. The stunning fall from grace for the star executive came when in March the SEC filed an administrative civil complaint against him for insider trading alleging that he tipped Galleon chief Raj Rajaratnam with insider information about Goldman Sachs and Procter & Gamble while on the boards of both. Weighing in on the case, eminent attorney Ravi Batra says it was dumb of Gupta to try and win the right to be "tried" in a larger setting. His just deserts came on Oct 26 in the form of one criminal and one civil suit. No matter his standing, now under cloud, among Indian Americans or in India, Rajat Gupta was, in the eyes of Batra, a “false hero, whose natural abilities were wasted on playing the game while remaining insecure and feeling poor”. In a detailed interview with SATimes, Batra speculates on Gupta’s culpability and possible outcome of the case, while admitting his admiration for the ‘grand
Imran Khan predicts ‘a revolution’ in Pak politics Subcontinent, Page 21
Rajat Gupta, facing Attorney Ravi Batra criminal and civil suit interviewed by SATimes. prosecutor’ Preet Bharara. He also tackles the larger question of what the high profile case means for the South Asian community and its impact on the perception of leadership, ethical qualities of Indian business leaders here. Read full interview on page 15.
Prime Minister Manmohan Singh with his Pakistani counterpart, Yousuf Raza Gilani, after the bilateral meeting, on the sidelines of the 17th SAARC Summit in Maldives Nov 10. They are accompanied by their foreign ministers S.M. Krishna and Hina Rabbani Khar. 26/11 terror attacks three years ago, the two sides agreed to push
a host of initiatives, including the Continued on page 4...
Europe breathes easy, Greece & Italy getting new heads Sydney: The euro held tentative gains early in Asia on Friday, having bounced off a one-month low versus the dollar on relief that Italy was able to fund itself in the debt market, albeit at a high cost. The common currency was at $1.3602, up from Thursday's trough of $1.3481. It drew support from signs the political deadlock in Rome and Athens may be easing and as European politicians denied any split in the euro zone was under discussion. Former European Commissioner Mario Monti has emerged as favorite to replace Italian Prime Minister Silvio Berlusconi within days and lead an emergency government. In
Greece, former European Central Bank Vice President Lucas Papademos was appointed to head an interim crisis cabinet. "These developments are welcome - they are necessary for a turnaround in market sentiment," said Luigi Speranza, analyst at BNP Paribas. But whether that is enough to stabilize the euro zone bond market in the longer term depends on the ECB, which has so far been reluctant to intervene on a large enough scale, Speranza wrote in a client note. Several ECB members hosed down thoughts of the central bank becoming a lender of last resort, which most analysts say is crucial to stem the crisis.