Hu to step down as military chief
Beijing, November 12
China’s new leader in waiting, Xi Jinping will have a surprise head-start to emerge as the most influential leader, as outgoing President Hu Jintao has reportedly decided to step down from all posts including the all-powerful post of the military chief.

Happy Divali!

From darkness to light: Girls prepare for Divali puja in Dehradun on Monday. Tribune photo: Vinod Pundir

The Tribune wishes its readers a safe, happy and prosperous Divali. Offices of The Tribune will remain closed on Tuesday. The next edition of the paper will appear on Thursday, November 15.

On economic front, little to cheer about
* Industrial output, exports shrink
* Re at 2-month low
* Inflation nears double-digit mark
New Delhi, November 12
It’s a gloomy Divali for the economy as the industrial production has contracted against expectations, trade deficit has reached a record high, rupee has touched a two-month low (near the Rs 55-to-a-dollar mark) and consumer inflation is within kissing distance of the double-digit mark.

High reserve price keeps telcos away from 2G bidding
New Delhi, November 12
As expected, the 2G Spectrum auction, which got underway today, has received a lukewarm response from telcos. There were no takers for Delhi and Mumbai circles, leaving the government wondering whether it would be able to achieve the revenue target set by it.

PGI ENTRANCE TEST ROW
Key accused in MD exam racket identified
Chandigarh, November 12
The police has identified K Gangadhar Reddy, a 33-year-old man arrested from Bihar, as one of the accused who provided PGI entrance exam answers to the gang of cheaters that was busted in Chandigarh recently.

Tests say athlete Pinki is male; faces rape charge
Barasat (WB), November 12
Asian Games gold medallist Pinki Pramanik, who was embroiled in a controversy surrounding her gender, was today charged with rape and cheating by the police after medical tests established that the athlete is a male.

LUDHIANA LAND ACQUISITION SC hikes compensation to farmers by 25% after 40 yrs New Delhi, November 12 The Supreme Court has increased the compensation amount for the land acquired by the Ludhiana Improvement Trust (LIT) in 1972 by 25%. A Bench of Justices GS Singhvi and SJ Mukhopadhaya hiked the compensation paid to the farmers from Rs 39 per square yard to Rs 49 a sq yd.