Employment Guarantee is a good step to West Bengal’s economy

Kolkata, Dec 29 : The Employment Guarantee Bill envisaged by the UPA government was a good step and a part of a wider programme to achieve the desired goals in the areas of education and health, eminent economists Amartya Sen said today.

In a public discussion on ‘Needs and Resources: Education, Health and Employment’ jointly organised by Pratichi Trust, Global Equity Initiative, Harvard University and UNICEF, Sen said the state’s primary health sector was a major constraint for the economy. Nobel Prize winner Amartya Sen said states should also share a part of the cost burden with the Centre.

He said the most important aspect of the Bill would be the process of selection along with the nature of work that the legislation ought to guarantee.

Sen criticised the quantum of government spending in healthcare. He said that it was criminal for people to opt for private healthcare instead of the public sector, particularly in a democracy.

In this context, he lauded Bangladesh for lowering mortality rates at 46 per 1000, which was better than India’s at 64 per 1000, despite the ‘inflexible’ democracy working in that country. (more…)

Oracle wraps up deal with PeopleSoft

Mumbai, Dec 29: After an 18-month takeover saga, which included courtroom battles, Oracle Corp. recently announced that PeopleSoft stockholders have tendered approximately 75% of PeopleSoft outstanding stock, giving Oracle control of the company.

In another related development, David Duffield, founder and CEO of PeopleSoft has stepped down. In a filing with the Securities and Exchange Commission, PeopleSoft stated that Duffield, who founded the company in 1987, resigned his positions of director, board chairman, and CEO on December 21.

Additionally, Oracle has designated four representatives to serve on PeopleSoft’s board of directors, replacing the PeopleSoft board members who have resigned and giving Oracle majority board representation.

The subsequent offering period will permit all stockholders who did not tender their shares earlier, to obtain the $26.50 per share offer price for their shares prior to consummation of the second-step merger. (more…)

External Affairs Minister K. Natwar Singh has cancelled his visit to Bahrain from Wednesday in view of the tsunami disaster along India’s southern coast

Natwar Singh is in the United Arab Emirates (UAE) on the second leg of a six-day three-nation visit - Oman and Bahrain being the other countries. He will return home Wednesday on the conclusion of his UAE trip, the officials said Tuesday.

The talks, which were curtailed because Singh had to return to New Delhi to attend meetings regarding tsunami relief, included a review of cooperation in the field of information technology, and both leaders reportedly agreed to strengthen ties in this sector, official sources here said.

Sheikh Ahmed bin Saeed Al Maktoum, Chairman of the Dubai Civil Aviation Department and Sudhir Vyas, Indian ambassador were also present during the talks. (ANI)

An Indian satellite Monday took pictures of the tsunami-hit coastal areas in the country that officials said could help in planning and coordinating relief operations.

The Resourcesat-1 satellite of the Indian Space Research Organisation (ISRO) took the pictures at 10.30 a.m. when it was crossing the subcontinent during its polar orbit on the north-south axis.

The satellite then transmitted the pictures to the National Remote Sensing Agency at Hyderabad, a top ISRO official said. (more…)