Global Report 08-Jan-2009

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*******www.instablogs****/ Satyam fraud One feels terribly ashamed of Mr. Ramalinga Raju, for the amount o...
*******www.instablogs****/ Satyam fraud One feels terribly ashamed of Mr. Ramalinga Raju, for the amount of damage he has done to the Indian IT industry is simply un-imaginable. Astonishingly the news broke out this morning but Mr. Raju and his CFO’s are not behind the bars. In fact, the company which audited their accounts all these years plus the chartered accountants should be banned from their profession. My heart goes out to the employees of the company but didn’t they act stupid by believing in sales which they knew never existed. Anyways the cat is out of the basket and those who have invested their hard earned money in big names with huge assets and apparent profits should begin exercising caution. Sectarian riots on Muharram, Pakistan The 9th and 10th day of Muharram are sensitive days of the Islamic month of Muharram in Pakistan especially in the NWFP province where a number of districts are prone to sectarian violence. The north western district of Hangu is particularly infamous for sectarian riots. Violence has broken out in the town more than a dozen times since 1998. This year the government has prepared a special security plan to prevent any sectarian outbreak in the town as well as curbing the threat of terrorists who are believed to have plans for using the sectarian tensions as a precursor for their own malign designs. Army and frontier constabulary have deployed security teams at all the strategically important spots in and around town. A strict curfew has been enforced in Hangu since last evening January 6 in order to prevent the vulnerable exposure of any religious procession. The curfew will hold till the 10th of Muharram which falls on the 9th of January. Hundreds of people have fled to neighboring town and cities in order avoid any emergency in the city of Hangu. Fashion and Michelle Obama Michelle Obama it seems is the right person to rejuvenate the US fashion industry. She could potentially do what Jackie Kennedy did; bring about a new awareness and a fresh outlook. During the election campaign she signaled an interest both in looking stylish and also in advancing the cause of American fashion and those who design and make it. She wore off-the-rack stuff from J. Crew and, at times controversially, designs by fashion darlings like Isabel Toledo, Thakoon Panichgul and Narciso Rodriguez. She brought to the campaign a sophisticated approach to high-low dressing, a determination to adapt designers’ work to suit her self — adding jewelry or sweaters or wearing flat shoes with sheaths or even altering dressmaking details. That’s how Michelle Obama is, a woman without any pretence and a working mother with kids who knows the big designer names but also shops at J. Crew and the Gap. *******www.instablogs****/