Tag Archives: PTI

Suspected rebels kill 2, wound several in India

Suspected Maoist rebels on Saturday attacked a convoy of cars carrying local leaders and supporters of India‘s ruling Congress party in a Maoist-infested area in eastern India, killing at least two party members and wounding and kidnapping several others.

Senior police officer M. Gupta said suspected insurgents triggered a land mine blast and fired at the vehicles in the Sukma area, about 215 miles (345 kilometers) south of Raipur, the capital of Chhattisgarh state.

Congress party president Sonia Gandhi said two state party leaders died in what she described as a “dastardly attack” on India‘s democratic system.

Police identified one of those killed as Mahendra Karma, a Congress leader in Chhattisgarh state who founded a local militia, the Salwa Judum, to combat the Maoist rebels. The anti-rebel militia had to be reined in after it was accused of atrocities against tribals — indigenous people at the bottom of India‘s rigid social ladder.

The wounded Congress party members, among them Vidya Charan Shukla, a former federal minister, were taken to a local hospital, police said.

The Press Trust of India news agency said the suspected rebels also took away a local party leader, Nand Kumar Patel, and his son.

PTI said the attackers blocked the road by felling trees and triggered a land mine blast that blew up one of the cars in the convoy. The attackers fired at the Congress party leaders and their supporters and then fled.

The Congress party is the main opposition party in the state.

The rebels, known as Naxalites, have been fighting the central government for more than four decades, demanding land and jobs for tenant farmers and the poor. They take their name from the West Bengal village of Naxalbari where the movement began in 1967. The fighters were inspired by Chinese Communist revolutionary leader Mao Zedong and have drawn support from displaced tribal populations opposed to corporate exploitation and official corruption.

Prime Minister Manmohan Singh has called the rebels India‘s biggest internal security threat. They are now present in 20 of India‘s 28 states and have thousands of fighters, according to the Home Ministry.

…read more

Source: FULL ARTICLE at Fox World News

Universal Power Group Reports Improved Fourth Quarter and Full Year 2012 Results

By Business Wirevia The Motley Fool

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Universal Power Group Reports Improved Fourth Quarter and Full Year 2012 Results

COPPELL, Texas–(BUSINESS WIRE)– Universal Power Group, Inc. (NYSE MKT: UPG), a Texas-based distributor and supplier of batteries and related power accessories and a third-party logistics provider, today announced significantly improved financial results for the fourth quarter and full year ended December 31, 2012. On a modest 3.8 percent increase in net sales, UPG nearly doubled income from continuing operations for the full year.

For the fourth quarter of 2012, UPG reported a much smaller net loss from continuing operations of $83,000, or $0.02 per diluted share, compared with a net loss from continuing operations of $470,000, or $0.09 per diluted share, in the fourth quarter of 2011. For the full year, UPG reported net income from continuing operations of $701,000, or $0.13 per diluted share, compared to net income from continuing operations of $368,000, or $0.07 per diluted share, in 2011.

“We made significant progress toward achieving our long-term strategic goals in 2012, even as we overcame a number of difficulties in our markets and supply base, resulting in a near doubling of income from continuing operations on a modest increase in net sales,” stated Ian Edmonds, UPG‘s President and Chief Executive Officer. “During the year, we worked through significant supply chain issues that affected a number of our China-based suppliers, and which resulted in delays in delivering products to our customers. We were also able to refocus on building our core battery and power accessory business with the sale of Monarch and the continued growth of ProTechnologies (PTI). These accomplishments, combined with the flexibility of our new credit agreement, provide a solid foundation for growth in 2013.”

Fourth Quarter and Full Year 2012 Results

Net sales for the fourth quarter decreased 4.4 percent to $19.9 million from $20.8 million in the fourth quarter of 2011. The slight reduction in net sales in the quarter was primarily the result of a decrease in net sales to ADT and its authorized dealers as well as softer sales in certain retail channels, which was offset by an increase in PTI sales.

Gross profit increased to $3.9 million in the quarter, compared with $3.8 million in the fourth quarter of 2011, due mainly to a shift in product mix toward higher margin products and improvements in UPG‘s supply chain. As a percent of net sales, gross margins improved to 19.4 percent from 18.1 percent in the prior year’s fourth …read more
Source: FULL ARTICLE at DailyFinance

Indian court demands Italy answer for marine flap

Indian media report that the Supreme Court has barred the Italian ambassador from leaving the country as a dispute over the fate of two Italian marines deepens.

The Press Trust of India says the court on Thursday demanded that the Italian government explain why it refused to return two marines accused of killing two Indian fishermen last year. The court demanded the ambassador file his response by Monday and barred him from leaving the country, PTI reported.

Indian External Affairs Minister Salman Kurshid says the government will treat the matter with urgency.

India let the marines go home in February to vote in elections with a promise from the Italian ambassador that they would return to stand trial. Italy announced Monday it would not send the marines back.

…read more
Source: FULL ARTICLE at Fox World News