1.

Narlikar declines to be part of UGC search panel The search committee, set up by the Human Resource Development Ministry for identifying a chairperson for the University Grants Commission (UGC), has been unable to meet as one of the experts approached by the Ministry has declined the offer. Astrophysicist Jayant Narlikar has declined to be part of the committee due to preoccupation. However, the three others approached by the Ministry Madhava Menon and Goverdhan Mehta (both academicians) and Srinath Reddy, president of the Public Health Foundation of India (PHFI) have agreed to be members of the committee which is expected to be notified soon. 2. National tax hq. in 24-30 months Rajaswa Bhawan, the proposed national tax headquarters building for which the foundation stone was laid in 2009 on a 5.65-acre plot at Kasturba Gandhi Marg here, is likely to be ready in the next 24 months. -30 Finance ministry stressed the need for a people-friendly national tax headquarters while being fully in harmony with the green character of Lutyen's Delhi which would set a new standard for public access and transparency. 3. Jairam says no' to Ken -Betwa river link project On his first visit to Bundelkhand, Union Minister of Environment and Forests Jairam Ramesh annou nced that the Ken-Betwa river linking project, the first of its kind proposed in India, was a disastrous idea and should not be pursued. The ambitious project, estimated to cost over Rs.9000 crore, is expected to be included in the 12th Five-Year Plan, starting April next. Interestingly, the Ministry of Environment and Forests (MoEF) had earlier instructed the Water Resources ministry to conduct an Environmental Impact Assessment of the project. 4. Islamabad, Kabul firm up ties Pakistan and Afghanistan on Saturday decided to set up a two -tier joint commission to facilitate the reconciliation process in anticipation of the withdrawal of foreign troops from war ravaged Afghanistan. This commission, headed by the heads of government and including the chiefs o the military and intelligence f services, has U.S. backing, according to Pakistan's Prime Minister Syed Yusuf Raza Gilani, The U.S. is on board. That's our core group and whatever will be decided will be among Pakistan, Afghanistan and the U.S. 5. Cuba marks Bay of Pigs Cuba kicks off a crucial Communist Party congress on Saturday with a massive military and civilian parade to mark 50 years since the defeat of CIA-backed exiles at the Bay of Pigs, still celebrated here as a landmark triumph over the island's powerful neighbour to the north. Officials have draped huge Cuban flags from government and other buildings; tanks practising for the big event have been rumbling down city streets and military planes have roared through the skies. Cannon fire from Havana's seaside ramparts has echoed periodically across the city. Hundreds of thousands of people from aging generals to factory workers are expected to march through the capital. The festivities on Saturday culminate at Revolution Plaza, a vast concrete expanse where an iconic sculpture of Ernesto Che Guevara gazes down from the side of the Interior Ministry building. 6. ABCIL buys Kanoria Chemical's division Aditya Birla Chemicals (India) (ABCIL) has acquired the Chloro Chemicals division (CCD) of Kanori a Chemicals & Industries for a cash consideration of Rs.830 crore. Aditya Birla Chemicals currently makes chlor alkali at its plant at Rehla in Jharkhand. The Chloro Chemicals division of Kanoria is located at Renukoot, Uttar Pradesh, and makes chlor-alkalis, chlorine derivatives and water treatment chemicals. The annual capacity of caustic soda at the facility is 1.15 lakh tonnes. It is a cost competitive manufacturer with captive power plants and coal linkage and forward integration into value adding chlorine derivatives. ABCIL will finance the transaction from internal accruals and borrowings. The transaction will be done on a slump sale basis and is expected to be completed towards the end of May. 7. SCI to acquire two Supramax bulk carriers Shipping Corporation of India (SCI) has signed contracts to acquire two resale Supramax bulk carriers from Grand Yard Investments, China. These vessels have been acquired through a competitive global tendering process and SCI has selected the vessels of Grand Yard Investments based on the technical suitability and commercial competitiveness. These vessels are presently at an advanced stage of construction at Guoyu Shipyard, China. They would be delivered to SCI within 4 months and 5 months of contract effectiveness respectively. SCI presently has 17 bulk carriers in its fleet out of which some of the Handymax bulk carriers would be due for phasing out shortly.

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8. China's steel output growth to slow China's steel output growth will slow down to an average annual expansion of 6 per cent over the next five years amid efforts to restructure the country's economy, Li Shijun, chief analyst for the China Iron and Steel Association (CISA), said on Saturday. Li told attendees at a meeting in Shanghai on the steel industry's development strategies that the peak for the annual output of China's steel industry in the next five years would likely be around 850 million tonnes. China's crude steel output reached a new high of 627 million tonnes in 2010 after the industry's average annual growth rate slowed to 12 percent during the XI Plan period from 2006 to 2010, compared to 22.6 per cent from 2001 to 2005. 9. Gilchrist, Valthaty power Kings XI to an easy victory The devastating duet they unleashed not only dismantled the host's a ttack but also inflicted a humiliating eight-wicket defeat. Chasing the Chargers' 165 for eight, the Punjab squad surpassed the mark with 14 balls to spare. Laying the foundation were Gilchrist's 61 (46b, 5x4, 3x6) and Valthaty's 75 (47b, 8x4, 5x6), the destructive duo, between them, showering the Rajiv Gandhi international stadium with eight sixes. Adjudged Man-of-the-Match for his invaluable 75 and a bag of four for 29, Valthaty is also in the hunt for the orange cap, matching strides with Sachin Tendulkar with an identical tally of 201. 10. Negi in sole lead Indian Grandmaster Parimarjan Negi defeated top seeded compatriot Krishnan Sasikiran to jump into sole lead after the conclusion of the sixth round of the Dubai International Open chess tournament. Important results involving Indians: Round six: (Indians unless stated): Parimarjan Negi (5.5) bt Krishnan Sasikiran (4.5); Abhijeet Gupta (4.5) drew with Evgenij Miroshnichenko (Ukr, 4.5); Sergey Volkov (Rus, 5) bt B.Adhiban (4); R.R. Laxman (4) lost to Csaba Balogh (5);

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