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Extensive Damage Likely as 6.9 Sikkim Quake Claims 13 Lives Astrong earthquake measuring 6.9 onthe Richter scale hit mountainous Sikkim on Sunday. Since it occurred at dusk, the magnitude of death and destruction was not immediately known. Eleven people were reported dead — four in Gangtok, two each in West Bengal and Bihar, and five in Kathmandu. The army has been put on standby to help inrescue operations. A 200-member National Disaster Relief Force and five Air Force planes have been dispatched to help in disaster management. Agency reports say several buildings in Gangtok and Darjeeling were damaged. Landslides and roadblocks were reported at many places. Strong tremors were felt in various parts ofnorth India, Nepal and Bhutan. The epicentre ofthe quake was about 64km northwest of Gangtok. Prime Minister Manmohan Singh spoke to Sikkim Chief Minister Pawan Kumar Chamling and offered him all necessary help. It’s the fourth quake reported inthe country in September.
CVC Wants Corporates, Bureaucracy Under Lokpal As the Lokpal debate rages, the Central Vigilance Commissionfeels corporates and higher levels of bureaucracy should be broughtunderthe purview ofthe Lokpal Bill.
Private Equity Investors Raise Exposure to Luxury Apparel Rising consumer spend on luxury couture is leading to a sharp spike in private equity investment inthe sector. Investors have put in $98 million of risk capital into high-end luxury apparel firms this year, up from $4 million last year.
Govt may Spend . 13,000 cr to Buy Cotton Crop to Avert Price Crash The central government may spend about . 13,000 crore to mop up athird of India’s cotton harvestto averta price crash and distress to farmers due to lower demand for garments.