Pakistan Prime Minister Nawaz Sharif seems to have clinched a deal during his recent visit to Washington. It now appears that the Clinton administration had promised an attractive package on the F-16 deal, which is one reason why Mr Sharif and his senior ministers have been telling that country's opposition to ``wait and watch.'' ...more

Fourteen wickets fell by tea of second day of the second Test between West Indies and South Africa yesterday as the tourists collapsed...more

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Pakistan Prime Minister Nawaz Sharif seems to have clinched a deal during his recent visit to Washington. It now appears that the Clinton administration had promised an attractive package on the F-16 deal, which is one reason why Mr Sharif and his senior ministers have been telling that country's opposition to ``wait and watch.'' The Times of India has learnt that in an unannounced briefing this week to senior aides of US lawmakers by state department and justice department officials, it was mentioned that the Clinton administration is considering repaying $300 to 350 million in cash (70 per cent of the value of the F-16s held by the US) and the rest in commodity sales - specifically winter wheat - to Islamabad. The total worth of this new package is estimated to be approximately $501 million.

 

A nationwide general strike organised by Left Front-sponsored trade unions against the Government’s economic policies and price-rise yesterday crippled functioning of coal mines, railways, airlines, steel plants along with Government offices and financial institutions in several parts of the country. The strike which led to adjournment of both Houses of Parliament was claimed by the trade unions as the biggest workers’ protest since Independence. This was in spite of arrests of union activists and workers at many places. In Haryana, the State Government invoked the ESMA to minimise the impact of the strike. The National Platform of Mass Organisations which brought together trade unions and other mass bodies for the strike announced in the evening that the strike had caused an almost total Bandh in West Bengal, Kerala, Tamil Nadu, Bihar, Orissa, Tripura, Meghalaya and Manipur.

• Business Standard
  Prime Minister indicates complete delicensing of telecom sector, enhanced role for financial institutions...

 

The Hindujas are close to finalising a joint venture with Fashion TV, the world’s only fashion channel, for a launch in South-east Asia and South Asia. Fashion TV airs programmes on fashion and some related areas under the brand name F TV. They have also tied up with France-based European music channel, MCM International, to manage its distribution and marketing activities in South-east Asia and South Asia, including India. As per the MCM deal, inked yesterday in Singapore, both MCM and the Hindujas-promoted Indusind Communications Ltd in Mauritius will form an equal joint venture, MCM International, also registered in Mauritius.

 

British drinks and confectionery giant Cadbury Schweppes plc announced on Friday it had agreed to sell its soft drinks brands outside the United States to Coca-Cola Co for $1.85 bn. The brands include Schweppes, Dr Pepper, Canada Dry and Crush. In 1997, these businesses generated £56 m ($93 m) trading profits, representing nine per cent of the group total. The sale price represents 20 times trading profits. Total tax and expenses related to the disposal - which excludes South Africa and France - will be around $350 m. Cadbury chief executive John Sunderland said the deal would allow the UK company to develop its global confectionery and US drinks businesses. "These brands are famous and profitable,'' he said. "However, we have recognised that outside the US they can be more successfully grown within the broader international infrastructure which Coca-Cola has established over many years.''

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  Langer puts Australia in driving seat...

 

Fourteen wickets fell by tea of second day of the second Test between West Indies and South Africa yesterday as the tourists collapsed. South Africa were left with a lead of 124. At tea South Africa were also struggling, 11-2 in their second innings and the match appeared set to finish long before its scheduled five days.

Scoreboard

South Africa (1st innings): G Kirsten c Jacobs b Walsh 29, HGibbs b Walsh 2, J Kallis c Hooper b Walsh 30, D Cullinan b Dillon 4, H Cronje run out 21, J Rhodes c Hooper b Ambrose 17, S Pollock c Williams b Ambrose 28, M Boucher c Hooper b McLean 17, P Symcox b McLean 36, A Donald c Hooper b Walsh 34, D Terbrugge not out 2. Extras (b4, lb6, w1, nb14): 25.

Total (all out, 70.4 overs): 245

 

Light heavy puncher Gurcharan Singh stormed into the semi-finals to assure India its first medal in the boxing ring even as the men's tennis team was pushed down to the bronze standard when it was beaten in the semi-finals 3-0 by Japan at the Asian Games on Friday. Gurcharan, a 22-year-old soldier from Punjab, pummelled Lebanese fighter Bisal Masri with some solid blows forcing the referee to come to the latter's rescue and stop the quarter-final bout one minute 43 seconds into the fifth and final round. The superb display put up by Gurcharan, a former Asian junior champion, came as a balm for the Indians whose gold medal hopes in men's team tennis had gone up in smoke earlier in the day and they had to rest content with a bronze.

Astronauts enter new space station (The Hindustan Times)

 

Six astronauts jubilantly swung open the doors to the new International Space Station and flipped on the lights becoming the first guests aboard the 400- km-high outpost. “It's fantastic. I can't say how much this means to all of us,” radioed down Robert Cabana, commander of the attached shuttle Endeavour yesterday. Mission control replied, “you've opened the doors to a whole new era in spaceflight.” Cabana and Russia's Sergei Krikalev were the first to enter the space station.Cabana beckoned for the cosmonaut to join him in crossing the threshold of the U.S.-Russian complex.They floated in side by side. In addition to flipping on the lights, the astronauts yesterday installed air ducts and fans and also planned to bring aboard clothes and other supplies for the first permanent crew, due to arrive in 2000.

 

A deeply divided House panel was set on late Thursday to debate whether to recommend the full House make President Bill Clinton just the second US president ever impeached. Each of the House Judiciary Committee's 37 members had the opportunity to make an opening statement before the real fight over four draft articles of impeachment was to begin early on Friday. Committee votes on formal charges were expected on Friday and Saturday. House Speaker Newt Gingrich said a full House vote could come as early as next Thursday. Clinton staged ``a direct attack on the rule of law,'' Republican James Sensenbrenner said, vowing to cast a vote for impeachment ``with no joy, but without apologies, just as those on this committee who voted to impeach President Nixon 24 years ago.''