Creation of an independent multilateral world energy organisation which would undertake independent forecast of demand and supply and formulate policies fair to all market players and formulation of an energy policy to safeguard the security of supplies for the Asia- Pacific region were the key proposals mooted at the Fifth International Energy Conference here today. The need to review the existing forecasts in view of burgeoning demand was also highlighted at the conference. Dr. Erwin Arietta, Minister of Energy and Mines, Venezuela, mooted the formation of a multilateral committee, hand-in-hand with the creation of a fund that would receive contributions to finance studies on the energy sector.

Jayalalitha arrested, remanded

The former Chief Minister of Tamil Nadu, Ms. J. Jayalalitha, was arrested this morning by the Crime Branch-CID and remanded to judicial custody by the Principal Sessions Judge (PSJ), Mr. A. Ramamoorthy. Ms. Jayalalitha, charged in the Rs. 8.53- crore colour television deal, was lodged in the Central Prison here where she will remain till December 21, the duration of remand. The arrest follows the dismissal of all her seven anticipatory bail petitions yesterday by the Madras High Court. The State Cabinet had, just two days ago, decided to constitute a special court to handle cases pertaining to charges of corruption against the former Chief Minister.

Let the market find its own levels, say analysts

Capital market players and analysts say regulators and Government should desist from any measures to prop up the market and instead allow the market to find its own levels and then settle down. They believe that much of the new measures introduced by SEBI are impeding volumes.

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