Breaking News Update: April 03, 2008

1) Setback for Robert Mugabe, Opposition wins Zimbabwe Polls

In a setback to President Robert Mugabe, Zimbabwe's main opposition party Movement for Democratic Change (MDC) won a majority of seats in Parliament. Mugabe's party Zanu-PF could win only 97 seats, while MDC won 99 seats. Result of the Presidential elections is not yet known, but sources say that Mugabe has lost to MDC leader Morgan Tsvangirai. Mugabe, 84, has been ruling the country for 28 years. His rule has caused economic collapse and the world's highest inflation rate.

2) US Economy may shrink, says Federal Reserve Chairman Ben Bernanke

Federal Reserve Chairman Ben Bernanke made a sensational statement that US Economy may shrink over the next few months. The latest development created a panic in the Global market. Experts believe that recession is now imminent, as US economy is losing its track very fast. The housing, credit, and financial sectors may witness a worst crisis if there is a recession. It will also adversely impact the global market including India and other Asian countries.

3) India asks Dalai Lama to restrain his Supporters

Perturbed over the threat issued by Tibetans to disrupt the Olympic Torch Rally, External Afairs Minister Pranab Mukherjee urged spiritual leader Dalai Lama to rein in his supporters to avert any untoward incident. Indian authorities have already decided to cut short the ceremonial run in the capital from 9 km to 3 km. Mr. Mukherjee made it clear to Dalai Lama that and his followers were honored guests in India but they should ensure that their actions did not hurt India's bilateral ties with China.

4) Karnataka Poll to be held in May

The Election Commission finally notified the Assembly elections in Karnataka. The elections will be held in three phases. Elections will begin on May 10 and results will be declared on May 25. While 89 constituencies will go to polls on May 10, 66 other constituencies will have elections on May 16. The remaining 69 constituencies will go to polls on May 22. The polls will be held as per the new delimitation. Karnataka will be the first state to have elections after delimitation.

5) Prakash Karat re-elected CPM General Secretary

Prakash Karat was re-elected as the General Secretary of the CPI-M at the 19th Party Congress in Coimbatore. He reiterated the need for a third front as an alternative to fight Congress and BJP. In another development, veteran leaders Jyoti Basu and Harkishan Singh Surjeet were not included in Party's Politburo. They have been demanding that for long. Jyoti Basu will still remain a special invitee to the Politburo.

6) Cricket: India's Shame at Motera

In a shocking display of cricket, Indian team bowled out for a paltry 76 in the second test match against South Africa at Motera, Ahmedabad. Only Pathan and Dhoni could reach double figure. Pathan was the top scorer with 21*. Dale Steyn took 5 wickets, while Ntini took 3. This is India's seventh lowest score in Test Cricket and second lowest on home soil. In reply, South Africa produced great batting display and finished the day at 223/4.