Tremors felt in Chennai

An undersea earthquake measuring 6.7 on the Richter scale struck off India's Andaman islands in the Indian Ocean on Friday, the US Geological Survey said, causing people to flee their homes.Officials and witnesses said the quake triggered panic and fears of a repeat of the devastating 2004 tsunami that ravaged the island chain.Residents ran out of their homes as the powerful jolt rattled buildings, already weakened by a series of earthquakes that have hit the Andamans since the tsunami.

The epicentre of the quake was 115 kilometres (70 miles) southwest from capital Port Blair.

With its epicentre near Andaman and Nicobar Islands, the quake occurring at around 1700 hrs lasted a few seconds and rocked several parts of Chennai including the busy T Nagar, Nugambakkam and Koyambedu areas, Met office sources and the police told .Employees working in a multi-storeyed building in Venkatnarayana Road in T Nagar rushed out of office as they experienced the tremor, police said.

However, there is no immediate report about any loss of life or property due to the quake.Emloyees working near Marina Beach Ran Out of the office because of the Building Shake Felt.

Source : Times Of India

Home Loans Now Costiler

Bad news with the market tumbling under pressure from rising inflation and oil prices and it seems the worst is not still over with the markets at a 2 year low.The interest rate hike has come from the country's leading bank SBI which gives an indication that the other banks will follow shortly.

The bad news is for those with house , car or any loans from banks.Interest rates have just gone up.Therefore , the equated monthly installments on are to increase or will have to be paid for a longer period.This comes as a bad news for the booming Automobile industry ,Housing ,and Consumer Durables industry which are riding high will se a big dip in their sales.

Pilot Trainee's Struggle is United States As School Shuts

Among 100's of students who are stranded in us from india after their flying school was closed down about a week ago.The students include trainees from Chennai ,Mumbai Delhi ,Pune etc.These students were part of a commericial pilot training programme run by the American School Of Aviation which had tie up with kingfisher airlines.However it is belved that kingfisher has denied that it had "contractual obligations"with the school.

The school informed the students last month that it was facing financial crunch and it might be forced to close down.India has only 32 flying school and only 14 are functioning due to lack of infracture which is the main reason why indian students constitute a major part of students studying in the US flying School.

Hope the indian goverment does something to protect the intest of these stranded students.A question arises about how the economy in US is heading and will be it the same for the number of university ? Will they also close due to finacial crunch?