The merger consideration represents an approximately 48% percent premium over the closing price of Tii Network Technologies' common stock as quoted on the website of the NASDAQ Stock Market on May 11, 2012.
Kelta intends to fund the acquisition with a combination of existing cash and funds available under Kelta's current credit facilities.
Brian Kelley, President and Chief Executive Officer of Tii Network Technologies, said, "...Not only does it provide our stockholders with a significant premium to the market price of our stock, it also represents a significant benefit to our customers and employees. We have had a positive, long term working relationship with Kelta, the contract manufacturer of our products. With Kelta's financial and other resources and capabilities, the Company will be better able to develop and produce new and improved products to meet the ever changing technology requirements of our Telco customers."
Tii Network Technologies expects the transaction to close in the third quarter of 2012.
Shutterstock Inc., the online seller of stock photos and images, filed to raise $115 million in a U.S. initial public offering.
Shutterstock applied to list on the New York Stock Exchange under the symbol SSTK, according to a regulatory filing today. The New York-based company didn’t say how many shares it’s offering or at what price. The $115 million is a placeholder used to calculate registration fees and may change.
Shutterstock generated revenue from more than 550,000 active users in 2011 and has a library of more than 19 million images for sale, the filing shows. The site collects pictures from contributors, who receive fees when their material is downloaded by paying customers.
The company, led by Chief Executive Officer Jonathan Oringer, posted $120.3 million in sales last year, a 45 percent increase. Net income rose 15 percent to $21.9 million, its filing shows.
Oringer is Shutterstock’s largest shareholder, and Insight Venture Partners also has a stake, the filing shows, without specifying percentages. Morgan Stanley, Deutsche Bank AG and Jefferies Group Inc. are leading the offering.
Shutterstock applied to list on the New York Stock Exchange under the symbol SSTK, according to a regulatory filing today. The New York-based company didn’t say how many shares it’s offering or at what price. The $115 million is a placeholder used to calculate registration fees and may change.
Shutterstock generated revenue from more than 550,000 active users in 2011 and has a library of more than 19 million images for sale, the filing shows. The site collects pictures from contributors, who receive fees when their material is downloaded by paying customers.
The company, led by Chief Executive Officer Jonathan Oringer, posted $120.3 million in sales last year, a 45 percent increase. Net income rose 15 percent to $21.9 million, its filing shows.
Oringer is Shutterstock’s largest shareholder, and Insight Venture Partners also has a stake, the filing shows, without specifying percentages. Morgan Stanley, Deutsche Bank AG and Jefferies Group Inc. are leading the offering.
The show Satyamev Jayate is really bringing the change in a society and important thing is that actions are taken in no time from authoritative government agencies. It will really help the society to see the much needed change. Aamir Khan and Satyamev Jayate might be a new"Time" Magazine Cover soon.
After the broadcast of First Episode of Satyamev Jayate about female foeticide, Rajasthan Government and Madhya Pradesh Government have took immediate steps to show a support to the society. Whether it will really lead to change or just a cheap publicity from government, we will see in future. But clearly the effect of the show is visible.
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| Satyamev Jayate |
Just three days before the much talked about episode of the Aamir Khan hosted Satyamev Jayate on child sexual abuse, the Rajya Sabha passed The Protection of Children from Sexual Offences Bill, 2011.
The Bill seeks to protect children from sexual abuse with provision for setting up special courts for speedy trial and stringent punishment including life sentence for committing sexual assault on minors under the age of 16.
Iran Begins To Lock Out The World From Its Intranet, Beginning With Email
Iran has just forbidden its nationals working in certain institutions to only use it's own Iranian-sourced email providers, and to stop interacting with emails received from any other source--effectively forbidding access to the outside world by email. The move affects employees in banks, insurance firms and telecoms companies. Universities are similarly affected, which also closes off email access by Iran's academics and researchers. The government argues it's to prevent scraping of data from email by foreign entities, but it looks a lot like one of the primary moves to create a long-rumored Iran-only intranet in reaction to the use of the net to foment anti-government resistance and spread news of Iran's treatment of its population.
Iran has just forbidden its nationals working in certain institutions to only use it's own Iranian-sourced email providers, and to stop interacting with emails received from any other source--effectively forbidding access to the outside world by email. The move affects employees in banks, insurance firms and telecoms companies. Universities are similarly affected, which also closes off email access by Iran's academics and researchers. The government argues it's to prevent scraping of data from email by foreign entities, but it looks a lot like one of the primary moves to create a long-rumored Iran-only intranet in reaction to the use of the net to foment anti-government resistance and spread news of Iran's treatment of its population.
Scott Thompson, CEO of Yahoo Inc was in the news headlines as he has misguided Yahoo Board and its investors and became a CEO. Now, he is quitting his post after a lot of criticism. He was convicted as not having cited qualification as per his resume. Now he has announced that he has been diagnosed with a Thyroid cancer. After such blunder, is anyone there to believe him that he diagnosed cancer the day before he is going to quit yahoo? After a breach of trust, probably nobody in corporate will believe him, before verifying it like his resume.
| Scott Thompson Yahoo CEO |
The outgoing chief executive of Yahoo told the board of directors and colleagues that he had been diagnosed with thyroid cancer days before quitting the post, according to a report in the Wall Street Journal on Monday.
Scott Thompson disclosed his illness late last week before handing in his resignation as evidence appeared to emerge that contradicted his claim that he wasn’t responsible for an error in his resume regarding his academic record, sources told the newspaper.
It reported Thompson’s decision to step down as CEO at Yahoo was in part influenced by the diagnosis which occurred in recent days while the board was still investigating why his resume included a computer science degree which he had never attained.
The error in Thompson's resume appeared in a Yahoo regulatory filing and on Yahoo's and other corporate websites.
The struggling internet firm said on Sunday that Thompson, its third CEO in three years, would be leaving immediately and would be succeeded by Ross Levinsohn, a senior Yahoo executive who becomes interim CEO.
The firm has also brought an end to a proxy fight with hedge fund Third Point – it’s largest shareholder—by giving it three more seats on the board.
The Wall Street Journal reported that Thompson told one colleague that he didn't want to publicly discuss the cancer diagnosis because he wanted to keep personal details private.
The man behind the snack: John Montagu, the fourth Earl of Sandwich, is said to be the man after whom the sandwich was named, 250 years back. When he ordered beef served between slices of bread about 250 years ago he probably did not think his request would become a global convenience meal.
The story goes that the Earl asked for the particular serving so that he could eat while continuing to play cards and his friends asked “to have the same as Sandwich”, according to the British Sandwich Association.
The first written record of the sandwich was in 1762 and the Kent town of Sandwich, which is the earldom of the Montagu family, is celebrating the 250th anniversary of the meal. Montagu, a prominent naval commander, became the first Earl of Sandwich when he was offered a peerage in 1660.
Steve Laslett, one of the organisers of the Sandwich Celebration Festival, said Montagu chose the title because “at the time Sandwich was the premier sea port in England”. “He was a daring man to eat in such a way coming from his social background,” Foodsmith Sam Bompas said.
A tradition
Over the weekend the east Kent town hosts sandwich-making competitions and re-enactments of the moment the fourth Earl of Sandwich asked for the food in bread. Sandwich Celebration Festival organiser Mandy Wilkins said that it had had interest from around the world, including America, Canada, Germany, Switzerland, France and Russia.
“The sandwich is a global food and Sandwich, our town, is just a little town full of medieval buildings,” Wilkins said. “It’s bizarre that such an important food item should be named after us."
On Sunday the 11th Earl of Sandwich, who shares his name with the fourth Earl after which the sandwich is said to be named, hosts a lunch in Sandwich. “I am delighted to wish a happy 250th birthday to the sandwich,” John Montagu said.
Some facts and trivia
It tells you who you are: Choice of sandwich filling could provide an interesting insight into our characters, the study revealed. Dr Elizabeth Jones and colleagues identified eight ‘Key Sandwich Personalities’ after interviewing 2,000 people.
Those who enjoyed cheese and pickle were more likely to have a high IQ, while people who like BLT on seeded bread are considered opportunists. Ham salad on white bread signified a ‘forward thinker’, beef rolls are chosen by impulsive people and egg mayo by quiet ‘home bodies.’
High flyers were more likely to go for a classic tuna and sweetcorn, while sensitive souls preferred prawns on brown bread and extroverts chose chicken salad wraps.
The best sandwich in the world: A sandwich, made with a little kunyit (turmeric) by a Malaysian chef, was named Best Sandwich in the World at a competition in France. Darren Chin, 32, prepared a sandwich of pork combined with herbs and spices and decorated it with vegetables.
Bacon sandwich is the best cure for hangover: Are last night’s festivities making your head pound, stomach queasy and skin a deathly shade of grey? Well, then go ahead and grab a big, fat bacon sandwich to save your life, say scientists.
The yummy grub has always been a popular cure for a hangover, and now scientists have come up with proof to claim that it really works.
Largest sandwich ever made: A 46 metres long sarnie has entered into the running for the largest sandwich ever made. The super-sub was prepared by as many as 150 cooks in Mexico City and weighed 750 kilograms. Interestingly, they took only 6 minutes and 20 seconds to make the sandwich.
| Sandwich |
The first written record of the sandwich was in 1762 and the Kent town of Sandwich, which is the earldom of the Montagu family, is celebrating the 250th anniversary of the meal. Montagu, a prominent naval commander, became the first Earl of Sandwich when he was offered a peerage in 1660.
Steve Laslett, one of the organisers of the Sandwich Celebration Festival, said Montagu chose the title because “at the time Sandwich was the premier sea port in England”. “He was a daring man to eat in such a way coming from his social background,” Foodsmith Sam Bompas said.
A tradition
Over the weekend the east Kent town hosts sandwich-making competitions and re-enactments of the moment the fourth Earl of Sandwich asked for the food in bread. Sandwich Celebration Festival organiser Mandy Wilkins said that it had had interest from around the world, including America, Canada, Germany, Switzerland, France and Russia.
“The sandwich is a global food and Sandwich, our town, is just a little town full of medieval buildings,” Wilkins said. “It’s bizarre that such an important food item should be named after us."
On Sunday the 11th Earl of Sandwich, who shares his name with the fourth Earl after which the sandwich is said to be named, hosts a lunch in Sandwich. “I am delighted to wish a happy 250th birthday to the sandwich,” John Montagu said.
Some facts and trivia
It tells you who you are: Choice of sandwich filling could provide an interesting insight into our characters, the study revealed. Dr Elizabeth Jones and colleagues identified eight ‘Key Sandwich Personalities’ after interviewing 2,000 people.
Those who enjoyed cheese and pickle were more likely to have a high IQ, while people who like BLT on seeded bread are considered opportunists. Ham salad on white bread signified a ‘forward thinker’, beef rolls are chosen by impulsive people and egg mayo by quiet ‘home bodies.’
High flyers were more likely to go for a classic tuna and sweetcorn, while sensitive souls preferred prawns on brown bread and extroverts chose chicken salad wraps.
The best sandwich in the world: A sandwich, made with a little kunyit (turmeric) by a Malaysian chef, was named Best Sandwich in the World at a competition in France. Darren Chin, 32, prepared a sandwich of pork combined with herbs and spices and decorated it with vegetables.
Bacon sandwich is the best cure for hangover: Are last night’s festivities making your head pound, stomach queasy and skin a deathly shade of grey? Well, then go ahead and grab a big, fat bacon sandwich to save your life, say scientists.
The yummy grub has always been a popular cure for a hangover, and now scientists have come up with proof to claim that it really works.
Largest sandwich ever made: A 46 metres long sarnie has entered into the running for the largest sandwich ever made. The super-sub was prepared by as many as 150 cooks in Mexico City and weighed 750 kilograms. Interestingly, they took only 6 minutes and 20 seconds to make the sandwich.
A small Dornier plane belonging to a private company crashed in the mountains of Nepal on Monday morning killing 14 people including 13 Indian pilgrims. The plane belonging to Agni Air had 21 people on board including three crew members. It crashed after hitting a hill top while attempting to land at the Jomsom airport in northern Nepal, said an official at the Rescue Coordination Committee of Tribhuvan International Airport.
Only seven people on board, including three Indians, could be rescued from the crash site. The injured people were taken to a hospital in Pokhara where condition of the three Indians were critical. Reports said that there were 16 Indians among the 18 passengers on board the plane.
The passengers had chartered the flight to take them from the central tourist hub of Pokhara to Muktinath, a famous Hindu pilgrimage in Jomsom near Tibetan border at the foot of the Thorong La Himalayan mountain pass, the official said.
The high-altitude Jomsom airport, about 200 km northwest of the capital, is a gateway to a popular tourism and trekking destination situated more than 2,600 m above sea level.
Indian Embassy officials said they were trying to collect the details as there was some confusion over the nationalities of the passengers on board the ill-fated plane.
Agni Air marketing manager Pramod Pandey said two Danish nationals were also among the passengers.
"It's not that much difficulty to land at the Jomsom airport. We are using experienced pilots over there. So, this pilot who flying this aircraft has a lot of flying hours," he added.
The plane turned into pieces but did not caught fire. The bodies of Pilot Prabhu Sharan Pathak and Co-pilot JD Maharjan have been recovered.
India has set up round-the-clock helplines in its embassy in Kathmandu to provide information on the air crash in Nepal.
According to official sources, External Affairs Minister SM Krishna was "directly" in touch with country's Ambassador to Nepal.
"I am deeply saddened to hear about the tragic air crash that occurred earlier this morning near Jomsong airport in Nepal. I would like to convey my deep condolences to the families of all those who have lost their lives in this accident. Our thoughts and prayers are with the families of all those who have lost their near and dear ones," the minister said.
Only seven people on board, including three Indians, could be rescued from the crash site. The injured people were taken to a hospital in Pokhara where condition of the three Indians were critical. Reports said that there were 16 Indians among the 18 passengers on board the plane.
The passengers had chartered the flight to take them from the central tourist hub of Pokhara to Muktinath, a famous Hindu pilgrimage in Jomsom near Tibetan border at the foot of the Thorong La Himalayan mountain pass, the official said.
The high-altitude Jomsom airport, about 200 km northwest of the capital, is a gateway to a popular tourism and trekking destination situated more than 2,600 m above sea level.
Indian Embassy officials said they were trying to collect the details as there was some confusion over the nationalities of the passengers on board the ill-fated plane.
Agni Air marketing manager Pramod Pandey said two Danish nationals were also among the passengers.
"It's not that much difficulty to land at the Jomsom airport. We are using experienced pilots over there. So, this pilot who flying this aircraft has a lot of flying hours," he added.
The plane turned into pieces but did not caught fire. The bodies of Pilot Prabhu Sharan Pathak and Co-pilot JD Maharjan have been recovered.
India has set up round-the-clock helplines in its embassy in Kathmandu to provide information on the air crash in Nepal.
According to official sources, External Affairs Minister SM Krishna was "directly" in touch with country's Ambassador to Nepal.
"I am deeply saddened to hear about the tragic air crash that occurred earlier this morning near Jomsong airport in Nepal. I would like to convey my deep condolences to the families of all those who have lost their lives in this accident. Our thoughts and prayers are with the families of all those who have lost their near and dear ones," the minister said.
As the uncertainty about Greek political situation and probability of second time polls has darkened the outlook of stock markets. Meanwhile US Economic growth left steam as stimulus faded. Hiring was subdued after first quarter jump and earning season is already over. Markets will now start focusing on Macro Economic fundamentals and start reacting according to it.
In Asia, Markets were under performers compared to US since April, although Shanghai Index has started outperforming since few weeks as analysts betting on economy rebound.
 |
| Bank of China |
If we look at the policy action that was announced today that the People's Bank of China cut the amount of cash that banks must hold as reserves on Saturday, freeing an estimated 400 billion yuan ($63.5 billion) for lending to add to the roughly 800 billion injected in two previous 50 bps cuts since the government tilted its policy stance towards growth in October.
The move came after data on Friday showed the economy weakening, not recovering, from its slowest quarter of growth in three years. Industrial production growth slowed sharply in April and fixed asset investment — a key growth driver — hit its lowest level in nearly a decade, confounding economists expecting signs of a rebound in Q2 data.
Now question is the move should be taken as positive or may be more negative to the outlook of Chinese economic growth? If we see that more liquidity to flow in as a positive indicator but will it be sufficient to lift the industrial production and growth or it is still conservative step than what actually needed to boost economy as Inflation fear dampening the developing economies to free up capital.
Suspected drug gang killers dumped 49 headless bodies on a highway near Mexico's northern city of Monterrey in one of the country's worst atrocities in recent years.
Mexican marines escort Marcos Jesus Hernandez Rodriguez, aka "El Chilango", alleged leader of assassins and member of the Los Zetas drug cartel. Rodriguez was arrested on May 9, during a military operation in the city of Xalapa, Veracruz state, conducted by special forces
The mutilated corpses of 43 men and six women, whose hands and feet had also been cut off, were found in a pile on a highway in the municipality of Cadereyta Jimenez early Sunday, officials from the state of Nuevo Leon said.
"What's complicating the identification of all the people was that they were all headless," said Jorge Domene, the Nuevo Leon government's spokesman for public security, who said the other body parts were missing.
Domene said the brutal Zetas drug gang claimed responsibility for the murders in a message found at the scene.
The massacre was the latest in a string of mass slayings that have convulsed Mexico in recent months. Many of the killings have occurred in northern Mexico, where the Zetas have waged a war against rival groups for control of smuggling routes.
The Zetas gang was founded by deserters from the Mexican army who became enforcers for the Gulf cartel, which once dominated the drug trade in northeastern Mexico. Leaders of the Zetas later split from their employers and the two gangs have since fought for control of trafficking routes.
The Zetas have also been at war with the powerful Sinaloa cartel on the other side of the country.
President Felipe Calderon has staked his reputation on bringing Mexico's drug gangs to heel, sending in the army to fight them shortly after taking office in December 2006.
But the violence has spiraled since, and more than 50,000 people have fallen victim to the conflict, eroding support for Calderon's conservative National Action Party (PAN), which looks likely to lose power in presidential elections on July 1.
A poll published on Sunday showed PAN presidential candidate Josefina Vazquez Mota trailing front-runner Enrique Pena Nieto of the opposition Institutional Revolutionary Party (PRI) by 19 points with just seven weeks to go.
The commercial hub of Monterrey was long a bastion of the PAN, and the local business community has been "livid" about the violence engulfing the city, said George W. Grayson, a Mexico expert at the College of William and Mary in Virginia.
"This puts the final nail in the coffin of the PAN in the presidential contest," he said after the latest atrocity.
Surveys show voters think that the PRI, which ruled Mexico for 71 years until 2000, is more likely to quell the violence. Its long rule was tainted by corruption and critics have accused the PRI of making deals with cartels to maintain order.
Vazquez Mota took a swipe at the PRI after the headless bodies were discovered, suggesting regions governed by the centrist party - which include Nuevo Leon and nearly two-thirds of Mexico's states - had allowed crime to flourish.
"What happened in Cadereyta must be investigated, but what I think it shows, in a terrible and painful way, is the kind of permissiveness seen in these states towards organized crime," she told Reuters in the eastern port of Veracruz on Sunday.
Tattooed Victims
The headless victims have not been identified.
The bodies showed signs of decay, indicating they may have been dead for days, Nuevo Leon Attorney General Adrian de la Garza said. He noted there had been no mass disappearances reported in the state, so the victims could have died elsewhere.
De la Garza said many of the bodies were tattooed, which could offer a clue to their identities. The dead may have been migrants passing through Mexico to the United States, he added. Migrants have been targeted by criminal gangs in the past.
Violent street gangs in Central America like the Maras have distinctive tattoos, though security spokesman Domene said the victims did not show these markings.
Domene said some had tattoos of Santa Muerte, or "Holy Death" a female skeletal grim reaper venerated by both gangs and some broader, non-criminal sections of Mexican society.
The corpses were taken to Monterrey and authorities said they would perform DNA tests. Thousands of Mexico's drug war victims have never been identified.
Spiral of Violence
The bloody killings in Nuevo Leon were the worst there since 52 people died in an arson attack on a casino in Monterrey in August. That attack was also blamed on the Zetas.
Monterrey is Mexico's most affluent city and was long seen as a model of economic development in Latin America. But it has been ravaged by the drug war over the last three years.
The horrifying conflict has been marked by an escalation of mass slaughter in recent weeks.
Last Wednesday, 18 people were found decapitated and dismembered near Mexico's second-largest city, Guadalajara.
A week earlier, the bodies of nine people were found hanging from a bridge and 14 others found dismembered in the city of Nuevo Laredo, just across the U.S. border from Laredo in Texas.
Security analyst Alberto Islas said much of the recent spike in violence was the result of fighting over cocaine supplies from South America between the Zetas and the Sinaloa cartel, led by Joaquin "Shorty" Guzman, Mexico's most wanted man.
Increased pressure on Guzman's operations in Colombia this year had prompted the Sinaloa cartel to buy up a bigger share of cocaine from Peru and Ecuador, squeezing the Zetas' supply and sparking tit-for-tat attacks among the gangs, Islas added.
The fact that state and federal authorities had repeatedly failed to capture and prosecute those responsible for the brutality meant the attacks were only getting worse, he said.
"They're fighting across the whole country with complete impunity," he said. "The government has to send out a very clear signal they will stop the violence and find those responsible."
Late last year, several mass killings took place in the eastern state of Veracruz, which has been ravaged by the Zetas.
Mexican marines escort Marcos Jesus Hernandez Rodriguez, aka "El Chilango", alleged leader of assassins and member of the Los Zetas drug cartel. Rodriguez was arrested on May 9, during a military operation in the city of Xalapa, Veracruz state, conducted by special forces
The mutilated corpses of 43 men and six women, whose hands and feet had also been cut off, were found in a pile on a highway in the municipality of Cadereyta Jimenez early Sunday, officials from the state of Nuevo Leon said.
"What's complicating the identification of all the people was that they were all headless," said Jorge Domene, the Nuevo Leon government's spokesman for public security, who said the other body parts were missing.
Domene said the brutal Zetas drug gang claimed responsibility for the murders in a message found at the scene.
The massacre was the latest in a string of mass slayings that have convulsed Mexico in recent months. Many of the killings have occurred in northern Mexico, where the Zetas have waged a war against rival groups for control of smuggling routes.
The Zetas gang was founded by deserters from the Mexican army who became enforcers for the Gulf cartel, which once dominated the drug trade in northeastern Mexico. Leaders of the Zetas later split from their employers and the two gangs have since fought for control of trafficking routes.
The Zetas have also been at war with the powerful Sinaloa cartel on the other side of the country.
President Felipe Calderon has staked his reputation on bringing Mexico's drug gangs to heel, sending in the army to fight them shortly after taking office in December 2006.
But the violence has spiraled since, and more than 50,000 people have fallen victim to the conflict, eroding support for Calderon's conservative National Action Party (PAN), which looks likely to lose power in presidential elections on July 1.
A poll published on Sunday showed PAN presidential candidate Josefina Vazquez Mota trailing front-runner Enrique Pena Nieto of the opposition Institutional Revolutionary Party (PRI) by 19 points with just seven weeks to go.
The commercial hub of Monterrey was long a bastion of the PAN, and the local business community has been "livid" about the violence engulfing the city, said George W. Grayson, a Mexico expert at the College of William and Mary in Virginia.
"This puts the final nail in the coffin of the PAN in the presidential contest," he said after the latest atrocity.
Surveys show voters think that the PRI, which ruled Mexico for 71 years until 2000, is more likely to quell the violence. Its long rule was tainted by corruption and critics have accused the PRI of making deals with cartels to maintain order.
Vazquez Mota took a swipe at the PRI after the headless bodies were discovered, suggesting regions governed by the centrist party - which include Nuevo Leon and nearly two-thirds of Mexico's states - had allowed crime to flourish.
"What happened in Cadereyta must be investigated, but what I think it shows, in a terrible and painful way, is the kind of permissiveness seen in these states towards organized crime," she told Reuters in the eastern port of Veracruz on Sunday.
Tattooed Victims
The headless victims have not been identified.
The bodies showed signs of decay, indicating they may have been dead for days, Nuevo Leon Attorney General Adrian de la Garza said. He noted there had been no mass disappearances reported in the state, so the victims could have died elsewhere.
De la Garza said many of the bodies were tattooed, which could offer a clue to their identities. The dead may have been migrants passing through Mexico to the United States, he added. Migrants have been targeted by criminal gangs in the past.
Violent street gangs in Central America like the Maras have distinctive tattoos, though security spokesman Domene said the victims did not show these markings.
Domene said some had tattoos of Santa Muerte, or "Holy Death" a female skeletal grim reaper venerated by both gangs and some broader, non-criminal sections of Mexican society.
The corpses were taken to Monterrey and authorities said they would perform DNA tests. Thousands of Mexico's drug war victims have never been identified.
Spiral of Violence
The bloody killings in Nuevo Leon were the worst there since 52 people died in an arson attack on a casino in Monterrey in August. That attack was also blamed on the Zetas.
Monterrey is Mexico's most affluent city and was long seen as a model of economic development in Latin America. But it has been ravaged by the drug war over the last three years.
The horrifying conflict has been marked by an escalation of mass slaughter in recent weeks.
Last Wednesday, 18 people were found decapitated and dismembered near Mexico's second-largest city, Guadalajara.
A week earlier, the bodies of nine people were found hanging from a bridge and 14 others found dismembered in the city of Nuevo Laredo, just across the U.S. border from Laredo in Texas.
Security analyst Alberto Islas said much of the recent spike in violence was the result of fighting over cocaine supplies from South America between the Zetas and the Sinaloa cartel, led by Joaquin "Shorty" Guzman, Mexico's most wanted man.
Increased pressure on Guzman's operations in Colombia this year had prompted the Sinaloa cartel to buy up a bigger share of cocaine from Peru and Ecuador, squeezing the Zetas' supply and sparking tit-for-tat attacks among the gangs, Islas added.
The fact that state and federal authorities had repeatedly failed to capture and prosecute those responsible for the brutality meant the attacks were only getting worse, he said.
"They're fighting across the whole country with complete impunity," he said. "The government has to send out a very clear signal they will stop the violence and find those responsible."
Late last year, several mass killings took place in the eastern state of Veracruz, which has been ravaged by the Zetas.
US markets on friday were down, as financial weigh on dow jones and s&p after the reported loss of $2 billion from JP Morgan. Although markets haven't been sold off in panic and close just little down. Meanwhile Greece is looking forward for next election as coalition government attempt was failed. China's stimulatory measures helped asia to stay in positive territory, although didn't push them higher as well. Back to India, Political uncertainty about early Lok Sabha Poll will cap the upside in the markets and bad news might keep hammering Nifty lower.
Note: Nifty in a downtrend and will not get reversed without something extremely positive development globally and it seems a lot of uncertainty regarding Europe and US Economy's growth pace.
Nifty Tips and Outlook Today:
Nifty might see a little bounce today in the morning trade and give an opportunity to short sell on rally. Traders might short sell Nifty on rally ( around 5030-5050 spot ). Avoid long positions, and aggressive traders might short at current opening levels, but good return only expected when you short Nifty at our mentioned levels.
Note: Nifty in a downtrend and will not get reversed without something extremely positive development globally and it seems a lot of uncertainty regarding Europe and US Economy's growth pace.
Check our previous Nifty Trading Tips here
