GDP growth slows down to 5.3% in Q3

Indian economic growth has slowed down drastically to 5.3 percent in the third quarter of fiscal 2008-09 against 8.9 percent in the same period a year ago owing to the cut in demand and exports following the ongoing global economic crisis. The slowdown is sharp as the GDP had grown by 7.6 percent in the July-Sept quarter. This time around the sectors that grew slower than expected were manufacturing and farm production even as some services showed robust expansion.

The annual growth for India's fiscal third quarter was lower than a median forecast of 6.2 percent predicted by economists and also lower than a upwardly revised 8.9 percent annual expansion in the same quarter a year ago.

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Obama proposes more military aid to Pakistan

In a bid to address the rise of Al-Qaida and Taliban in Afghanistan and Pakistan, US President Barack Obama's maiden budget presented in the Congress have proposed more military aid to the two countries. US military aid to Pakistan has remained a matter of intense discussion, however, the Congressmen this time are pitching to increase non-military aid by linking it with Islamabad's success in fight against terrorism. The budget also seeks to increase the non-military aid.

When asked about the move at the Pentagon briefing, Joint Chief of Staff Admiral Mike Mullen said: "I think it's very important that we help resource them and develop this comprehensive strategy with Pakistan over a number of years. I'm delighted to see that kind of support in the '10
budget."

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Corruption in Mohali Traffic Police-Alarm bells for SSP

We have received an email from Harjaspreet Singh Sohi, a resident of Mohali who claimed that Mohali traffic police demanded bribe from him but he preferred to pay the fine to help state government earn revenue. Is the high profile Deputy Chief Minister Sukhbir Singh Badal and SSP Mohali Jatinder Singh Aulakh pay heed to the grievance of Sohi.

"This is Harjaspreet Singh from Mohali(Punjab), I am working as a team leader in BPO, today when i was going to my home in my car at 5:30 PM, then 2 traffic policemen ordered me to stop, I obeyed their orders and stopped my car, they told me that you have jumped the red lights that is why we stopped you, i told them that it is my daily routine to cross these lights. i stopped at red lights and crossed when got Green only one truck crossed the lights before me and i and truck both crossed the lights so quickly that nobody can even say that i did't obey red lights.

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FBI arrests Stanford Financial Group exec

FBI agents have arrested the chief investment officer of troubled Stanford Financial Group, accusing Laura Pendergest-Holt of obstructing a Securities and Exchange Commission fraud investigation. The SEC has been investigating allegations of an $8 billion investment fraud involving Texas billionaire R. Allen Stanford's financial group. Stanford was served legal papers by FBI agents last week and ordered to surrender his passport, but has not been charged with a crime.

Pendergest-Holt was arrested Thursday in Houston, where Stanford Financial Group is based. The FBI said she was taken to the federal detention center and would appear in federal court Friday morning for an arraignment.

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Pizarro double sends Milan crashing out

Werder Bremen stunned mighty AC Milan by coming back from a two-goal deficit to draw 2-2 and send the Italian giants crashing out of the UEFA Cup at the San Siro. Milan were cruising at half-time as they led 2-0 in their round of 32, second leg tie through goals from Andrea Pirlo and Pato but a stirring second-half fightback from Werder saw them through on away goals after a 3-3 draw on aggregate.

Milan president and Italian Prime Minister Silvio Berlusconi was already fuming after the Italians conceded a late equaliser last week in Germany but this latest collapse at home could bring coach Carlo Ancelotti's job into question.