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Retail investors give IPOs the cold shoulder
Average participation in the last 12 offers was just 2.39 times

SKNL Q3 net profit up 74% to Rs 81 cr
Textile and apparel group SKNL today reported 74.6 per cent jump in its net profit to Rs 80.7 crore for the third quarter ended December 31, 2009, compared to the same period last fiscal on the back of robust growth in its domestic business.

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Sugar price up on UP ban
The Mayawati government’s decision to ban import of raw sugar into Uttar Pradesh has sent sugar prices soaring. Ex-mill sugar price in the state is at a record high of Rs 3,700 a quintal, up 7-8 per cent from a month ago, though crushing season is on.
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Zardari seeks US mediation on Kashmir

Linking the Kashmir problem with the Middle East conflict, President Asif Ali Zardari has asked the US to demonstrate "neutrality" and step up efforts to "mediate" on the issue between India and Pakistan. In an op-ed published in The New York Times, he also accused India of playing destabilising role in the region and said that the perceived "rhetorical" one-sided American policy often fuels conspiracy theories in Pakistan. Zardari said the "recent upset" in Pakistan over the Kerry-Lugar legislation, which US President Barack Obama signed into law and which requires the Secretary of State to report to Congress on military and civil progress in Pakistan, shows how sensitive many in his country are to what they see as unfair treatment by the US. "It would be helpful if the United States, at some point, would scrutinise India in a similar fashion and acknowledge that it has from time to time played a destabilising role in the region," he wrote. In his article titled "How to Mend Fences with Pakistan", Zardari said he along with Prime Minister Yousuf Raza Gilani is working closely with national assembly and military and intelligence agencies to defeat the Taliban insurgency and the al-Qaeda-backed campaign of terrorism. "Simultaneously, we are pursuing policies that will re-establish Pakistan as a vibrant economic market and finally address the long-neglected weaknesses in our education, health, agriculture and energy sectors. This isn"t just rhetoric — it is an active policy with new budget priorities and a reoriented national mindset," he said. "Over the last weeks I have moved forcefully to re-establish the traditional powers of the presidency as defined in the parliamentary model on which our constitution is based. Our constitution was distorted and perverted by military dictators who usurped the legal powers of Parliament," he said. "In accordance with the manifesto of the Pakistan Peoples Party, Zardari said, he is working towards strengthening the separation of powers of the Presidency from those of the Prime Minister. "Recently, I voluntarily handed back the chairmanship of the National Command Authority that exercises control over Pakistan"s nuclear arsenal. Contrary to some of the commentary on the subject, this is not a sign of weakness, but rather a demonstration of the vitality of Pakistani democracy," Zardari said.


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