Zardari Vowed to Return, Raj Rajaratnam Reported to Jail | Dec. 5 – 9, 2011
Life moves fast. News moves faster. Ninety died in an east Indian hospital fire, a Kashmiri-American confessed to working for Pakistan’s spy agency, India backed out on allowing in international retailers, and more.
Where There’s Smoke… A hospital fire in Kolkata Friday claimed nearly 90 lives and left another 60 or so injured. Six employees have been arrested by investigators looking into the incident for negligence, as many bed-ridden patients were abandoned. The victims died of smoke inhalation. [CNN]
Heartgate? Pakistani President Asif Ali Zardari announced Friday that he would return home soon after being admitted to a hospital in Dubai this week. Sources reported that he may have suffered some brain damage, but without lasting effects. Regardless, his being rushed to a foreign country for treatment sparked rumors of his resignation or an impending coup. [Reuters]
Not-So-Slim Shady Raj Rajaratnam, the billionaire founder of hedge fund Galleon Group, reported to prison Monday to begin serving out his 11-year sentence. His conviction of inside trading led to the longest sentence ever handed down for this charge, but even that was half what the government originally expected. It is believed that he made $70 million off his illegal activities. [LA Times]
ISI Spy Ghulam Nabi Fai, a Kashmiri-born American citizen, pleaded guilty Thursday to charges of spying for Pakistan. The 62-year-old was accused of accepting millions of dollars from the ISI over the past 20 years to lobby for Kashmiri independence in Washington, D.C. Despite Fai’s admission, the Pakistani government denies any connection to him. [BBC News]
Big Box Blocked Under pressure, Indian Prime Minister Manhoman Singh backed away from the proposal to allow international retailers into India. Despite the benefits of letting corporations like Wal-Mart to enter–from easing inflation to funding rural infrastructure–Singh was not able to overcome skepticism from critics and allies alike. [TIME Global Spin]
Amina Elahi is Divanee.com’s Managing Editor. Check out her blog, where she posts words and images that make her think.