Lok Sabha Election 2009, General Elections 2009, 15th Lok Sabha Election, Indian General Elections

Lok Sabha Election 2009 Result

2009-04-08T02:06:00.000-07:00

The vote counting for Indian General election poll 2009 will start on the date 16th May 2009. The result of Lok sabha election about which Political party or Alliance will win the elections and be able to form the government will be clear by the evening of 16th May 2009.

Lok Sabha Election 2009 / Polling Dates

Andhra Pradesh : 16-Apr, 23-Apr

Arunachal Pradesh : 16-Apr

Assam : 16-Apr, 23-Apr

Bihar : 16-Apr, 23-Apr, 30-Apr, 7-May

Chandigarh : 13-May

Chhattisgarh : 16-Apr

Dadra - Nagar Haveli : 30-Apr

Daman - Diu : 30-Apr

Delhi : 7-May

Goa : 23-Apr

Gujarat : 30-Apr

Haryana : 7-May

Himachal Pradesh : 13-May

Jammu and Kashmir : 16-Apr, 23-Apr, 30-Apr, 7-May, 13-May

Jharkhand : 16-Apr, 23-Apr

Karnataka : 23-Apr, 30-Apr

Kerala : 16-Apr, 20 May

Lakshadweep : 16-Apr

Madhya Pradesh : 23-Apr, 30-Apr

Maharashtra : 16-Apr, 23-Apr, 30-Apr

Manipur : 16-Apr, 22-Apr

Meghalaya : 16-Apr

Mizoram : 16-Apr

Nagaland : 16-Apr

Orissa : 16-Apr, 23-Apr

Puducherry : 13-May

Punjab : 7-May, 13-May

Rajasthan : 7-May

Sikkim : 30-Apr

Tamilnadu : 13-May

Tripura : 23-Apr

Uttar Pradesh : 16-Apr, 23-Apr, 30-Apr, 7-May, 13-May

Uttarakhand : 13-May

West Bengal : 16-Apr, 23-Apr, 30-Apr

Who will win Election 2009

2009-04-08T02:04:00.000-07:00

Guess Who will win Lok sabha Election 2009 ?

BJP or Congress ?
NDA or UPA or Third Front ?
LK Advani or Mallika Sarabhai ?
Rastraniti or Rajniti ?
Terrorism Issue or Development Issue ?

Common. Make sure that You vote for coming lok sabha election 2009 , because You dont have to just guess , but participate in greatest democratic festival .

It is the Indian voter who should win at the end.

Comparison of BJP, Congress manifestos

2009-04-08T01:58:00.001-07:00

Following are some of important comparisons in the manifestos of BJP and Congress:

Security:

BJP:

It calls for reviving of anti-terrorism mechanism that has been dismantled by the Congress. The party says it will improve upon POTA to ensure it is more effective as an instrument of deterrence.It says it will launch a massive programme to detect, detain and deport illegal immigrants. It says it will completely revamp the internal and external intelligence agencies.

Congress:

It says terrorism can be fought only by a united people, not by a people divided by religion. Religious polarisation that is intrinsic to the BJP severely erodes our capacity to combat terrorism.Our policy is zero-tolerance towards terrorism from whatever source it originates. More specialist battalions will be raised and positioned in key locations across the country.With the huge IT expertise available in our country, it is possible to provide every Indian with a unique identity card after the publication of the national population register in the year 2011.

Agriculture:

BJP:

The party says it will waive agricultural loans to farming community. It will set up a commission to study the entire gamut of farmers' loans and come up with an actionable solution to the deepening crisis within six months.To set a maximum ceiling of 4 per cent interest for agricultural loans to farmers from banks.BJP to introduce a pension scheme for aged and helpless farmers.

Congress:

The party says it will expand schemes for improving well-being of farmers and their families.

In addition to continuing the programmes that were launched over the past five years, the party promises that every small and marginal farmer in the country will have access to bank credit at lower rates of interest.Congress will implement comprehensive crop insurance schemes.

The Congress says it is committed to ensuring that farmers get, at a very minimum, market rates for the land that is acquired for industrial projects.

Education:

BJP:

Sarva Shiksha Abhiyan to be strengthened, extended and concertised further in quality, content and support system.Implementation of the mid-day meal scheme shall be revitalised on modern management lines.Universalisation of secondary education shall be speedily implemented. Special emphasis to be given on girls education at the secondary level.Institutions of higher learning to be given full autonomy coupled with accountability in real practice.

Congress:

Every year, over the next five years, Congress promises to add one more model school in every block.Congress says it will implement a nation-wide skill development programme.

Tax:

BJP:

Income tax exemptions upto Rs 3 lakh for salaried class. Women and senior citizens will receive an additional exemption benefit of Rs 50,000.

Get the BJP Election 2009 Manifesto English -- Hindi

Get the Congress Election 2009 Manifesto English

India – Another Talibanistan in the Making?

2009-04-08T01:54:00.000-07:00

The Title suggests that India is on its way to become yet another country which will fall prey to the leadership of Taliban, which seems incorrect. You may suggest that the title should be Pakistan and not Hindustan. But, the facts below do show that we have a lot of our own fundamentalists, which terrorize the nation.

What exactly is Taliban?
The word Taliban is derived from the Arabic word “Talib”, which means, “one who is seeking”, but over the years, the word Taliban has got a meaning, “one who is seeking fundamentalist religious knowledge”.

Unlike Barack Obama, who classified Taliban into “Good Taliban” and “Bad Taliban”, from an Indian’s perspective, I’d rather divide the Taliban into:
1. The Foreign Taliban
2. The Indian Taliban

The Foreign Taliban – Based in Afghanistan and Pakistan
The oldest Taliban Militia was established in Afghanistan, after the Sovient Union broke up, to fight the Mujahdeen war-lords who were corruptly ruling parts of the country, and restore peace in a united Afghanistan. This movement of Sunni Pashtun religious students, was backed up indirectly and directly by the United States and Pakistan, because the Taliban used to check the spread of the USSR rule.

Growing in power, the Taliban under the leadership of Mullah Omar, took over the entire Afghanistan under their “Exemplary Islamic Rule”. The brought back the system called taqlid, which means a very strict following of traditional Islam. Cutting the long story short, in 1980s, Osama bin Ladin established guerrilla warfare bases in Afghanistan against the Soviet Union. But after the Soviet withdrawal from Afghanistan in 1989, the Taliban began to look at the Western culture as its enemy. They considered items like Television, Music etc to be Western infatuations, which are aimed to break their religious beliefs. This intolerant mind-set led to the 9/11 attack on the United States, by Osama bin Laden’s Al Qaeda and the Afghan Taliban refused to extradite Osama to the US.

On the other hand, Pakistan in its bid to take over Kashmir also helped the Taliban to grow. This has led to the Talibanese rule in a lot of Pakistani territory and even the Democratic Government and the army seems to be unable to control their growth. The Government’s approval to sign a peace treaty which accepts their rule in the SWAT valley, shows that Taliban in Pakistan is a force to reckon with.

Over the years, the same snake that the US and Pakistan nurtured and nourished has raised its hood against them and the Terror attacks in the US and the problems in Pakistan have grown very grave concerns globally. The new Obama administration has also recognized this threat and a new Af-Pak Policy is in place.

The Indian Taliban - A More Dangerous Breed

Unlike the Islamic terrorist Taliban that is growing in Af-Pak region, the Indian union has multiple versions of its own Talibanese ideologies. After all, we are a land where there is unity in diversity and hence there are diverse Taliban-like groups in India, based on caste, creed and region with their own selfish interests.

The Muslim Taliban in India

Before the title is taken in a negative sense, I would like to clarify one thing. An Indian Muslim is as much Indian as any other person. It is absolutely incorrect to consider all followers of Islam as bad and they are not the only community spreading terror. Generalizing the whole community due to the presence of a few bad people would be absolutely incorrect.

There are some areas like Cheetah Camp in suburban Trombay, where the local clergy are highly influential. Known as Khan baba, Abdul Jalil Khan said that he is fighting against the “corrosive power” of the visuals on the air-waves as all television programmes, either informative or entertaining, are replete with images of lust and of semi-nude models. The people are forced into sending their children into Madressa instead of the schools. The Madressa curriculum is very limited to Islamic thought culture and it has not changed over-time, which makes it even more dangerous. Children here are taught the “real” Islam and slowly they become molded to the rigidity of religion, which is a threat to our secular nation.

Another example to cite here is the one I came across on a blog. On January 16, a Pakistani woman named Saba was bashed up at a mall in Mumbai. The “crime” she committed was having a tattoo which said “Shukr Alham Du Lillah”, meaning “Thank you, God”. A group of Islamic Radicals led by Shabana Talukdar slapped her in the mall’s washroom till the Management came to her rescue. (Also printed in the Mumbai Mirror)

What I am trying to suggest here is, whatever happened to the fundamental right of “Freedom of Expression”. Especially in this case, where I personally don’t think anything provocative was written.

The Maharashtrian Taliban
Starting with Shiv-Sena, a group of pro-Hindu fundamentalists under the rein of Bal Thackeray, for the Marathis in Maharashtra, this group has grown in power over a period of time. With various cases pending in the court, the members of this group are either Politicians themselves, or are closely linked to Political Parties which provides them safe haven. The Shiv-Sena is known to have played a vital role in the riots that sparked out in Mumbai after the Babri Marjid demolition. A Judicial Commission also pointed at the Sena for its direct involvement in coordinating the anti-Muslim riots, and accused Thackeray of “commanding his loyal Shiv Sainiks to retaliate by organised attacks against Muslims.” But after 7 years of Judicial Proceedings, Bala Thackeray was given a “clean chit”.

The Latest off-shoot of an uncle-nephew quarrel for power sharing between Bala Thakeray’s son Udhav and nephew Raj, has given rise to another offshoot of such kind called The Maharashtra Navnirman Sena. The Maharashtra Navnirman Sena (MNS) led by Raj Thackeray is all gaga about the needs of the original Marathi Manoos (actual Maharasthrians) and it raised a virulent campaign against the migrants, especially from Bihar and UP. The group is known to have assaulted the Taxi-drivers, vendors and the people who had come all the way from UP and Bihar to take the Railway Examination at the Mumbai Center. Among the cases known, there is also a case of a sweet shop named “Karachi Sweets”, whose owner was threatened by the MNS to either change the name of the shop or face the consequences.

From the records that I read online, at least 84 cases are filed against the MNS which include grave crimes like rioting, promoting enmity, expressing prejudices in public etc. Raj Thackeray’s name is included on 55 of these, with some of the cases where he is the prime accused. But the fact that he is not charge-sheeted yet and the fact that he was just jailed for some time and released on bail show the Political Muscle of the MNS.

The Rama Sena and Bajrang Dal

The Bajrang Dal is the youth wing of the Vishwa Hindu Parishad (VHP). Though they say they are secular and accommodating in their ideology, the Bajrang Dal has a goal of reversing the impact of the Muslim and the British rulers in India. This also includes the restoration of the currently disputed places of worship like Ayodhya and Kashi. Though I am not saying this is completely wrong, but it is also not correct to destroy places of worship of other communities.

The Bajrang Dal is also known to have had active involvement in the various riots. The VHP leader, Praveen Togadia, was arrested in April 2003 after distributing tridents to Bajrang Dal activists in Ajmer defying ban and prohibitory orders. Other than this, the Bajrang Dal activists are known to be “spoilers” when it comes to Valentine’s Day Celebrations, by invading parks, pubs, shops, cinema halls and restaurants and behaving like “social-police”.
Another such group is the that newly got fame is The Sri Rama Sena, which is a group of self-acclaimed Hindu fundamentalists who want to “restore” Indian values back into the system. Around 40 members of this group attacked a pub in Mangalore, Karnataka and physically dragged and abused the defenseless girls. The pictures and videos of this incident also show that there was grappling and molestation involved in this bizarre incident. The people who tried to intervene were also bashed up.

The sad part about this event is that everyone rose up in anger, but the Politicians remained unmoved for the fear of losing votes. Yet, the women came up with a great idea of gifting the leader of Ram Sena Pramod Muthalik, with huge numbers of pink underwears on the Valentine’s Day as a gift for his efforts.

Fate it seems is ironic, in Ramayana, Rama had a Sena of Monkeys who behaved like Humans and now we have this Rama Sena of Humans in Kalyug who...

My Take on the Taliban and India Topic

On a personal note, I feel that the Taliban within is much more dangerous as compared to the one beyond our borders. The Af-Pak Taliban forces can be even attributed to their warring nation with almost no education, but the Indian Taliban is far more dangerous as it comes from an educated class living in a democracy. The recent spur of events woven around yet-another Hindu fundamentalist Varun Gandhi is not music to our ears.

The very events mentioned above make me ponder whether we do have any fundamental rights left with us. Security threats and Violence have also led to another set of questions.

“Are we living in places where people are less Fundamentalists or Rigid then the Taliban forces in Afghanistan and Pakistan?”

“Will India – A country of diverse Tribes, Religions and Cultures still remain united or will it too Succumb to these Hardcore Perpetrators and get divided?”

“Will the Political Parties understand that they too are feeding yet another Taliban which has the potential of going the Af-Pak way, or will they continue to think short-term?”

As responsible citizens of a secular democratic, we must understand that nobody can violate others’ lives or forcibly invade their ideologies. We must join hands and take action against Hardcore Dictators.
If there is nothing else you can do, at least show your concern and VOTE RESPONSIBLY.

The Indian Electoral Spending – A Joke to Recession?

2009-04-08T01:51:00.000-07:00

As the history of India goes, Indian National Congress (Congress) and Bhartiya Janta Party (BJP) are the 2 frontline runners which have the highest chances of getting a majority. Winning the previous poll in 2004, the Indian National Congress formed a weak Government with the alliance of Left Parties. This coalition broke mid-way in 2008, when the Congress wanted to go ahead with the N-deal with U.S. and Left pulled the plug. Yet with a critical trust-vote that went through, the Congress managed to finish its 5 years tenure, much to the surprise of all sooth-sayers.

Before I get into some of the spending details, the previous polls had these numbers.

Congress – 141 Seats
BJP – 137 Seats

This means, that without strong coalitions neither of the two parties can reach the magic figure of 272 seats to get the majority. The funny thing about Indian Elections is that it is one-event which is completely un-affected by the Global Recession. According to the data given by Centre for Media Studies (CMS), the Election will cost the Republic of India almost 100-billion rupees, which is $2 bn. This is only the “official” amount that is allowed or accounted for. The actual spending can be estimated to be at least 4-5 times of the above amount.

For instance, Indian National Congress bought the Copyrights to the Oscar-winning song “Jai Ho”, for what would surely not be a small amount. The BJP meanwhile is lapping up all the Ad-slots on the Prime-time radio with their propaganda. Not only this, following the Techie-way victory of Barack Obama, L. K. Advani has also started a blog, website and news-letters. Further still, these internet media are also being popularized by use of Google Ad-words and other Ad-agencies. This apart, various Regional Parties are also promising different things, from Free electricity to new colour TVs and from almost free food and new state status to reservations even in Private Sector.

Over and above this, the fact that Mayawati has shown ambition of being the Prime-minister and form a Third-Front, has also triggered a lot of other events. Ministers of all the parties are flying around the country trying to form new alliances or strengthening the existing alliances. Rumours of Lok Sabha Party Tickets being sold have made a complete mockery of Democracy and it seems that the politicians only consider the money spent for campaigning as an investment which will reap returns once they come to power.

The Election Schedule

The 15th Lok Sabha election or the general election will be taking place in 5 phases as determined by Election commission of India. The different phases each of the states lies in is according to the picture.
The voting will taking place on following dates:
Phase 1: April 16
Phase 2: April 22-23
Phase 3: April 30
Phase 4: May 7
Phase 5: May 13

The results of the election will be announced on May 16, 2009.

The New Leaders of the New India
There is a very heartening change that has come over in the Indian voter for this new Election. The very fact that campaigns like “No votes to Criminals” and “Jaago Re” are gaining popularity is giving a new hope to the Indian voters. For the first time, companies like Infosys and TCS have taken initiatives like getting Voter ID cards to be made for their employees and are encouraging their employees to vote. This change is going make the politicians see a new class of Indians Voters – the Indians who never voted before.

The other interesting thing to see forward is that though the current fight for leadership is between L. K. Advani (BJP), Manmohan Singh (Congress) and probably Mayawati (3rd Front). The real excitement is how the next leaders in Pipeline are treated and what Portfolios/responsibilities are they given. Congress is keen to bring Rahul Gandhi as its next successor, whereas BJP is silent so far. Yet, I have a strong feeling that the next candidate for BJP after L. K. Advani, will be none other than the current Gujarat Chief Minister, Narendra Modi, who is famous in the world for both, his positive and negative publicity. With industrialists like Anil Ambani and Sunil Mittal openly supporting him for the post and with the success-model of Gujarat as his achievement, he will surely be one leader to keep an eye on.

Gauging the Future Possibilities

1. UPA + Coalition
Indian National Congress winning the next elections looks to be grim, but yet with the rural support they have, there are chances that they can win provided that they hang on to their existing allies and get support from 3rd Front once the elections are over.

2. NDA + Coalition
The chance of a BJP-led Government again looks dicey, but considering the previous Congress tenure, this Government has a realistic chance provided they get support from BSP and other allies, which looks difficult at present.

3. Third Front at the Center
This though looks tough, it has a realistic possibility if the allied parties in NDA and UPA break free from their parent parties with the greed of getting a bigger-share in the completely coalition government. Though not officially announced yet, Mayawati looks to be the front-runner for PM-position from this front. However, we can expect another round of polls if this government comes to power.

All in all, in the end, it will boil down to where the parties like CPM, TDP, AIDMK etc. will go, which will decide the fate of who forms the next Government.

Final Verdict

In these Elections, with the current Recession, unstable Pakistan and rising unemployment, which party wins or loses is kind of immaterial. It is going to be a tough ask for the new Government to tackle these issues effectively.
All in all, the whole Election Post can be summarized in one line which was once spoken by Franklin D. Roosevelt, who said that Freedom from want and freedom from fear – do not just come from deposing a tyrant and handing out ballots; they are only realized once the personal and material security of a people is ensured as well.

Election 2009 :: Vote and Change the face of INDIA

2009-04-08T01:45:00.000-07:00

My request to all voters.There is still unequal development of our country because these MPs go and sleep in the parliament.They dont bother about their people and just count notes.Sometimes stampede,security laps train accidents costs thousand in a year .but these son of gods need Z security.They even dont walk without 12-15 gunmens covering them..Aah wat a utilization of our taxes .

My dear fellow Indians

In next few month general elections are scheduled in India, which will decide the fate of India for next few years.If we anaylise today's India after Independence.We have improved in the area of education, health Industries and agriculture.

Major problems of todays India is.

* Over population

* Illetracy /Unemployment/Poverty/Crime rates.

* Shortage of power/water and Roads.

*Terrorism/Corruption

*Provision of mass housing

*Global recession.

Issues like above are straight away ignored by political parties and they are asking for votes on the basis and commitments they made in regards with providing rights to minority/Increase in the quotas and reservations/regionalism/religionism/ what not.

India is a youngest nation today and the role of indian youth in next three decades will fix the root of this country and develop ways for next generations.

No single party is showing interest in youth of today all overaged politicians who cant walk properly are going to stand for the primi minsterial candidature.

Main issues which should be addressed immediately are kept aside and votes are asked on the basis of religion/language/caste.If people have seven basic rights like expressing one's thought.can accept any religion.right to live anywhere in the country why some monsters are creating problems.

why this election gimmick is accepted, on what basis election commision allow such trators to contest polls .Immediately parties should be blacklisted.

parties giving tickets to stars/celebrities wow amazing !!!.these parties dont want to do work they are here just to increase their seat counts.In last election many big starts won .what they have done (Some third class movies/commentries/serials).Ever they went to parliament and raised issues of their constituencies.Total absentism is registered for some of these big stars.Think 1 seat for that constituency is wasted for 5 years.How parties cheats the voters.?

Today 9 parties came together and launched third front.Asked why . They said because congress and BJP failed to solve people's griviences.Now they will form a government and divide us and rule us.What they have done in their areas public know everything.Just a worsened face of politicians and their hunger for the chair.

Please vote for the candidate/not party.

Anaylize the profile/education and his experience to execute the plans.

His vision of next 10 years

No criminals

Everybody go vote and change the face of India.

Thanks

Election 2009 :: Voting Awareness

2009-04-08T01:41:00.000-07:00

Did you know that there is a system in our constitution, as per the 1969 act, in section "49-O" that a person can go to the polling booth, confirm his identity, get his finger marked and convey the presiding election officer that he doesn't want to vote anyone!

Yes such a feature is available, but obviously these seemingly notorious leaders have never disclosed it. This is called "49-O".

Why should you go and say "I VOTE NOBODY"... because, in a ward, if a candidate wins, say by 123 votes, and that particular ward has received "49-O" votes more than 123, then that polling will be cancelled and will have to be re-polled.

Not only that, but the candidature of the contestants will be removed and they cannot contest the re-polling, since people had already expressed their decision on them.

This would bring fear into parties and hence look for genuine candidates for their parties for election.This would change the way, of our whole political system... it is seemingly surprising why the election commission has not revealed such a feature to the public....

Please spread this news to as many as you know... Seems to be a wonderful weapon against corrupt parties in India... show your power, expressing your desire not to vote for anybody, is even more powerful than voting... so don't miss your chance.So either vote, or vote not to vote (vote 49-O) and pass this info on...

"Please forward this mail to as many as possible, so that we, the people of India, can really use this power to save our nation"

Use your voting right for a better INDIA.

India TV survey puts NDA in marginal lead over UPA

2009-04-08T01:40:00.000-07:00

India TV conducted a on-camera pre-election survey recently and released the results recently. This survey puts NDA in a slight lead over UPA. This survey considers Bihar parties RJD and LJP to not be part of the Congress lead UPA.According to the survey, NDA is predicted to get 187 seats, while the UPA is expected to bag 178 seats. The BJP with 144 seats might end up as the single largest party over it’s rival the Congress which is predicted to win in 133 constituencies. BJP may also be able to add 43 more seats from existing allies, taking the NDA tally to 187.

Pre-election survey, India TV, Apr 6 2009

The pre-poll survey also claims that if UPA can bring back its former constituents like Samajwadi Party, RJD and LJP, it will reach the figure of 235. According to the survey, Mulayam Singh Yadav’s SP is predicted to get 30 seats, while RJD/LJP would win 15 seats.

The seat breakup as predicted by the channel -

NDA 144 + 43 = 187
BJP 144 + 43 (JDU 19+SS 12+SAD 4+RLD 3+AGP 4+INLD 1)

UPA 133 + 45 = 178
Cong 133 + 45 (NC 3 +NCP 14+TMC 11+DMK 7+UDF 08+ JMM 02)

Third Front = 121
(BSP 26+TDP/TRS 14 +Left 35+ JDS 04+BJD 10+AIDMK 31 + HJC = 01)

Fourth Front 52 + 5 = 57
(SP 30 + RJD/LJP = 15 + PRP = 06 + PDP = 01 + Others 05)

This latest survey shows how imperative it is for Congress to regain it’s old allies so that the UPA has some chance of coming back to power.

Election 2009 :: सरफ़रोशी की तमन्ना अब हमारे दिल में है

2009-04-08T01:35:00.000-07:00

सरफ़रोशी की तमन्ना अब हमारे दिल में है
देखना है ज़ोर कितना बाज़ू-ए-क़ातिल में है

(ऐ वतन,) करता नहीं क्यूँ दूसरा कुछ बातचीत,
देखता हूँ मैं जिसे वो चुप तेरी महफ़िल में है
ऐ शहीद-ए-मुल्क-ओ-मिल्लत, मैं तेरे ऊपर निसार,
अब तेरी हिम्मत का चरचा ग़ैर की महफ़िल में है
सरफ़रोशी की तमन्ना अब हमारे दिल में है

वक़्त आने पर बता देंगे तुझे, ए आसमान,
हम अभी से क्या बताएँ क्या हमारे दिल में है
खेँच कर लाई है सब को क़त्ल होने की उमीद,
आशिकों का आज जमघट कूचा-ए-क़ातिल में है
सरफ़रोशी की तमन्ना अब हमारे दिल में है

है लिए हथियार दुश्मन ताक में बैठा उधर,
और हम तैयार हैं सीना लिए अपना इधर.
ख़ून से खेलेंगे होली गर वतन मुश्क़िल में है,
सरफ़रोशी की तमन्ना अब हमारे दिल में है

हाथ, जिन में है जूनून, कटते नही तलवार से,
सर जो उठ जाते हैं वो झुकते नहीं ललकार से.
और भड़केगा जो शोला सा हमारे दिल में है,
सरफ़रोशी की तमन्ना अब हमारे दिल में है

हम तो घर से ही थे निकले बाँधकर सर पर कफ़न,
जाँ हथेली पर लिए लो बढ चले हैं ये कदम.
ज़िंदगी तो अपनी मॆहमाँ मौत की महफ़िल में है,
सरफ़रोशी की तमन्ना अब हमारे दिल में है

यूँ खड़ा मक़्तल में क़ातिल कह रहा है बार-बार,
क्या तमन्ना-ए-शहादत भी किसी के दिल में है?
दिल में तूफ़ानों की टोली और नसों में इन्कलाब,
होश दुश्मन के उड़ा देंगे हमें रोको न आज.
दूर रह पाए जो हमसे दम कहाँ मंज़िल में है, सरफ़रोशी की तमन्ना अब हमारे दिल में है

ज़िस्म भी क्या ज़िस्म है जिसमे न हो ख़ून-ए-जुनून
क्या लड़े तूफ़ान से जो कश्ती-ए-साहिल में है
सरफ़रोशी की तमन्ना अब हमारे दिल में है
देखना है ज़ोर कितना बाज़ू-ए-क़ातिल में है

LK Advani files nomination from Gandhinagar

2009-04-08T01:30:00.000-07:00

BJP's Prime Ministerial candidate LK Advani filed his nomination from Gandhinagar, Gujarat. He was accompanied by Gujarat CM Narendra Modi and other senior leaders. Advani, a four-time MP from Gandhinagar, is seeking re-election for the fifth time. He filed his nomination exactly at 12.39 PM, which was suggested by the astrologers. According to Hindu mythology, Lord Rama had killed Ravana exactly at 12.39 PM, which was chosen by Advani to file the nomination.

LK Advani was the Union Home Minister and Deputy Prime Minister of the country during former Atal Behari Vajpayee. He is considered as the "Iron Man" of the BJP.

The opposition has been gunning for head over his alleged involvement in Babri Mosque demolition case. However, Advani has emerged as stronger than ever in the party after the retirement of Atal Behari Vajpayee from active politics.

Although the BJP started its campaign on a shaky note, the party is gaining popularity among the voters with every passing day. Now the battle between UPA and NDA has become even and it could tilt towards anyone when the poll dates come nearer.

A CEO at 16, now a millionaire!

2009-03-19T21:29:00.001-07:00

Innovation is the secret of their success. They believe a simple idea can transform lives. They dream big and are passionate about their goals... Meet the young, ambitious, intelligent and enterprising architects of India. Here's a special series on India's best innovators and entrepreneurs, winners of the latest Nasscom Innovation Award 2008.

A gaming success mantra

It has been games, games and more games for 31-year-old millionaire entrepreneur Vishal Gondal. He flunked his BCom exams as he was devoted to games, a passion he pursued from the age of 13. Later, this passion led to a serious business when people offered him money to develop games.

In fact, Vishal was amused to see that people were ready to pay him for doing what he liked the most.

At the age of 16, he started his first company, FACT. Later, he received seed capital from Infinity and IL&FS. With an initial investment of Rs 3.25 crore (Rs 32.5 million), Indiagames was born in 1999.

The initial years were tough, especially during the dot-com bust, but they remained focussed and never gave up. Indiagames's products are now distributed to over 75 countries through partnerships with mobile operators.

From a humble beginning in a garage with just five employees, Indiagames has come a long way. Today, Vishal leads a team of over 300 employees and has offices in Mumbai, London, Los Angeles and Beijing. In 2006, UTV acquired 51 per cent stake in Indiagames.

Thinking 'out of the box' has kept Vishal Gondal ahead in this space. He believes that gaming will grow bigger than cricket and Bollywood in India.

"Entrepreneurs must have a clear focus. One must keep focusing on a single thing than trying to do many things at the same time. And copy cat ideas will not survive. One needs to be innovative and do unique things," he points out. However, he laments over the dismal state of innovation in India. "Indian companies had it very easy till now he says. They will be forced to innovate and do things differently."

Why are IPOs still attractive: A comparison between going public or staying private

2009-03-14T21:33:00.000-07:00

Easy access to capital, as well as inexpensive leverage, has led to an increase in activity of PE buy-outs of market leaders with strong cash flow. The competition for objects that are for sale has amplified, which has resulted in price increases of the objects. The higher prices offered by the PE companies also affects the number of initial public offerings (IPO) on the Stockholm Stock Exchange. One reason for the small number of current IPOs is that the objects simply have been valued higher by PE companies than they would do in an IPO.

The purpose with this thesis is, from a shareholder’s point of view, to analyze and describe the reasons of making an IPO instead of selling to a PE company.

Contents

1 INTRODUCTION
1.1 BACKGROUND
1.2 PROBLEM
1.3 PURPOSE
1.4 DEFINITIONS
2 METHODOLOGY
2.1 QUALITATIVE APPROACH
2.2 DEDUCTIVE APPROACH
2.3 PRIMARY DATA COLLECTION
2.3.1 Research Sample
2.3.2 Interviews
2.4 VALIDITY, RELIABILITY AND GENERALISATION
3 THEORETICAL FRAMEWORK
3.1 FINANCIAL MARKETS
3.2 IPO
3.2.1 Motives for IPO
3.2.2 Valuation of IPOs
3.2.3 Preparations and Requirements for IPO
3.2.3.1 Before the IPO
3.2.3.2 After the IPO
3.2.4 Performance of IPOs
3.3 BUY-OUT
3.3.1 Motives for Buy-out
3.3.2 Valuation of Buy-outs
3.3.3 Preparations and Requirements for Buy-out
3.3.3.1 Before the Buy-out
3.3.3.2 After the Buy-out
3.3.4 Performance of Buy-outs
3.4 THEORETICAL DISCUSSION
3.4.1 Questions Arising from the Theoretical Discussion
4 EMPIRICAL FINDINGS & ANALYSIS
4.1 WHAT WERE THE MAIN MOTIVES FOR MAKING THE IPO?
4.2 HAVE THE STATUS AND/OR THE PUBLICITY OF THE COMPANY CHANGED SINCE THE IPO?
4.3 DO YOU THINK THAT THE MARKET NORMALLY MAKE ACCURATE VALUATIONS OF PUBLIC
COMPANIES?
4.4 WHAT WERE THE DISADVANTAGES OF MAKING AN IPO?
4.5 ARE THERE ANY DISADVANTAGES OF BEING A PUBLIC COMPANY?
4.6 WERE ALTERNATIVES TO IPO DISCUSSED?
4.7 WOULD THE PREPARATIONS TO SELL TO A PE COMPANY BEEN DIFFERENT THAN MAKING AN
IPO?
4.8 PREMIUM PRICES ARE OFTEN PAID WHEN TAKING A PUBLIC COMPANY PRIVATE (SEE RECENT BID
ON GAMBRO). WOULD NOT THE COMPANY THEN BE VALUED HIGHER PRIVATE THAT PUBLIC?
4.9 CAN THE COMPANY VALUE BE AFFECTED BY WHO THE SHAREHOLDERS ARE?
4.10 HOW DID THE OWNERSHIP FOR THE MANAGEMENT TEAM CHANGE WITH THE IPO?
4.11 HOW WOULD THE MANAGEMENT TEAM VALUE THE SIMPLICITY OF BEING PRIVATE, I.E. BE
SPARED FROM PUBLIC DEMANDS?
4.12 IF THE SHAREHOLDERS FACED THE SAME SITUATION AGAIN, WITH IDENTICAL CONDITIONS,
WOULD THE SAME DECISION BE MADE, I.E. MAKE AN IPO?
5 CONCLUSION AND DISCUSSION
5.1.1 Conclusion
5.1.2 Discussion
5.1.3 Authors reflections
5.1.4 Critique of Chosen Method
5.1.5 Further Research
REFERENCES
APPENDIX

Do You Need to Go to IRCE?

2009-03-14T21:31:00.000-07:00

IRCE stands for the Internet Retailer Conference and Exhibition, the major trade show for E-retailers. It is being held June 15-18 at the Boston Convention Center. There is definitely a culture split in the internet business: there is the corporate internet world — ebay.com, Target.com, Overstock.com, Meijers, Kohl’s — you get the idea. Then there are us scruffy guys — upstarts, guerillas, part-timers, millionaires-to-be. IRCE is corporate. It’s THE trade show for E-retailers but it’s overkill if you’re just starting out and working on the basics of building your empire. There are separate “tracks” you can attend. There is a Track B: Corporate Management and a Trade D: Small Retailers (as well as tracks for Operations, Marketing…) But judging from the conferences and workshops “Small Retailers” is for “Mid-size Retailers” in our humble opinion. (workshops like negotiating with vendors, how to right-size your fulfillment center — fullfillment center?! You mean our garage?). Unless you are mid-sized, Worldwide Brands is a great solution, at least to start. One interesting note: the founders of www.zazzle.com are scheduled to speak. We’ll talk about them in a future post. (But keep this is mind: Zazzle is not a “small retailer” — the Google founders invested $16 million in the company.)

Of course, one day, you may find you have built an empire, and you — or your employees — will need to attend — or exhibit — at this trade show. But for now, just be aware of it — for later. If you do wanna go now, go to www.IRCE.com. The standard 2-Day Conference and workshops pass is $1,295 (early bird special $1,195 before April 1). But like we said, we’d rather invest that two grand into a smart Google Adwords campaign, so we will have much more money to attend later on, if we wanna.

Network Marketing Success- What’s the Secret?

2009-03-14T21:27:00.000-07:00

Network Marketing Success, Many Have Tried, Many Have Failed. So What’s the Secret?

Network marketing success: Why are some able to soar to greater heights while others fall, crash to the ground, and burn to a blackened crisp? Is it destiny or fate? Is there really a secret formula or are some just lucky?

I have talked to many people with these questions. The reason they are asking is because they want to achieve network marketing success but are unwilling to step out and test the waters. They are waiting until someone guarantees them internet success.

This is something I am unwilling to do. If someone guarantees you that you won’t fail, probably you should run away as fast as you can in the opposite direction. Success will only come to those who are willing to pay the price. The only person who knows that for sure is you.

Getting back to some of the questions that were asked, is there a secret? Well, I think the answer to that is yes. Probably there is more than one. I’m not sure how secret the secrets are anymore, but there are things you need to know.

If you want network marketing success, your greatest asset will be you. The number one reason most people in network marketing fail is a lack of action. YOU have to act. YOU will need to do the work involved. Of course, there are many other factors as well.

Money is another factor. If you don’t learn how to monetize, you will end up spending more money than you ever make each month. I’m not saying you need to have tons of money in order to succeed, but to say you will not need any would be a falsehood on my part.

Those who succeed are those who are willing to pay the price. There may be many paths to reach your goal, but the ones who will stay on their path and not be swayed will be the ones to reach their goal.

The awesome thing about this business is the amount of useful information available through the internet. Many experts in the field are willing to share their network marketing success.

They have paid a huge price to accumulate valuable information through years of experience. In turn, they now give it away to you free.

When someone looks at it from that angle, it gives them a responsibility to make sure they don’t squander what they have been given. Sometimes, if we obtain something free of charge, we forget its value.

I believe part of our network marketing success has to do with our attitude. Not only does this affect you personally, it also affects those with whom you come in contact. I can tell almost immediately when I am talking to a negative person.

Our words will give us away. No matter what the subject is, the negative person always finds a way to point out why something won’t work. A positive person is always looking for a solution to the problem.

In order to have network marketing success, make sure you not only follow all the guidelines found on this hub, but begin to have a positive outlook. This will go a long way toward helping you succeed.

Clemson University Study Favors Payday Loans

2009-03-14T21:26:00.001-07:00

Clemson Universities Department of Economics study on payday loans concludes:

No casual relationship between access to payday loans and bankruptcy filings for all payday loan borrowers as a whole (affirms YadYap belief)
Access to high-interest-rate consumer credit correlates with improved household financial condition

Clemson Universities Department of Economics released a payday loan study recently that YadYap believes is noteworthy. This study was more than a simple study on payday loans. The study was conducted using data collected between 1990 and 2006. The purpose of the study was to determine whether or not payday loans lead to bankruptcy.

This study is a legitimate evaluation of important data and should be used by industry regulators when considering the types of regulation, if any, that should be made within the payday loan industry.

The researchers found two positive outcomes from the study. First, that access to high-interest-rate consumer credit correlates with improved household financial condition. Second, that there was no causal relationship between access to payday loans and bankruptcy filing rates for all payday loan borrowers as a whole.

Credible studies such as this should not be set aside. There is no reason that Clemson University would have to report anything other than the facts from a 16 year study of the payday industry. On the other hand, there are those in the industry that create a bad name for everyone by using less than ethical practices.

As for YadYap, this study affirms the belief we have that there is a need for this type of short term lending. YadYap is a marketplace where the best possible solution to short term loans will be offered to fill the need.

Wells Fargo Bank Cuts Its Dividend By 85%

2009-03-14T21:23:00.000-07:00

On March 6, 2009, Wells Fargo bank announced that it would slash 85% of its dividend which would reduce the price to a nickel per share. According to Wells Fargo, this move will save them approximately $5 billion per year. Wells Fargo is a San Francisco-based bank which took over Wachovia Corp. five months ago.

The bank refused to confront its investors about their decision to slash the dividend through a conference call. Wells Fargo also confirmed their strong position this year as their shares increased by 7% recently to $8.69.

Wells Fargo is not the first bank to cut its dividend during this economic crisis. Most of those banks that survived the banking crisis such as JPMorgan Chase & Co., PNC Financial Services Group Inc and US Bancorp have decided to cut their dividend by 85%.

Wells Fargo recently took $25 billion from the government in shares and through this cut, they plan to pay the government as soon as possible. John Stumpf, president and chief executive, said, “These actions will help us repay the government’s investment at the earliest practical date.”

Google executive Tim Armstrong moves to AOL

2009-03-14T21:22:00.000-07:00

Tim Armstrong, the executive of Google is soon going to adopt a new role of AOL’s chief executive. This has fueled the rumors regarding the separation of AOL from the parent Time Warner Inc. The idea of an independent AOL has been supported by Google also for some time now.

Google on the basis of its investment in AOL which was $ 1 billion, requested Time Warner for their money either as a refund or spin the unit out to shareholders.

The appointment of Tim Armstrong as the AOL chief executive has created positive vibes on Wall Street. It is believed by Richard Greenfield of Pali Research that Armstrong probably has agreed to join AOL because he knows he will get a chance to manage a public company soon which was highly unlikely while he was at Google.

It is visible by efforts like spin off of AOL by Time Warner that the parent company is trying to streamline operations. AOL has bought Bebo Inc and also focused on its “Platform” which is an online advertising network. Nielsen Online has ranked AOL 4th in February for US Internet audience. AOL had 83 million users while Google has 134 million. AOL search is also used by many in US.

But looking at current conditions, an AOL IPO isn’t commented soon. A lot of analysts and investors are in the favor of Time Warner to spin off AOL. Many see the step of AOL and Time Warner joining hand in 2000 as a misstep.

Two Teachers Accused of Having Sex With Same Student

2009-03-14T21:18:00.000-07:00

Two junior high school teachers in Utah have been arrested for allegedly sexually assaulting the same 13-year old boy, according to a newspaper report.

The inappropriate student-teacher relationships involved Utah studies teacher and cheerleading adviser Linda R. Nef, 46 and Valynne Bowers, 39, a math teacher, the Salt Lake Tribune reported.

Both Bountiful Jr. High teachers did not know the other was carrying on an affair with the student until recently, Bountiful Police Lt. Randy Pickett told the Tribune.

Nef reportedly met with police and said that she had been having sex with the boy for over a year, police said. She then told police about the boy's subsequent relationship with Bowers, who later confirmed it.

Pickett, the police lieutenant, said the teachers exchanged sexual text messages with the boy and that led to phone sex and later, assault.

The assaults occurred off campus, he said.

Baby sitters accused of taping sex with children

2009-03-14T21:16:00.000-07:00

A couple who ran a baby-sitting service out of their home videotaped themselves performing sex acts with children, some as young as 2 months old, police said Friday.

Stephen E. Quick, 31, and Samantha Light, 25, both of Veedersburg in western Indiana, were being held on $100,000 bond in Fountain County Jail. Both faced preliminary charges of child molestation and child exploitation. Jail staff did not know whether either one had an attorney.

Police who searched the couple's home found a videotape depicting sex acts involving Quick and Light and at least four different children between the ages of 2 months and 6 years old, said Fountain County Sheriff's Deputy Bob Kemp.

"In 15 years of doing this job, it's the worst thing I've ever seen or imagined," he told WRTV. "Just horrible, just horrible It's a new low."

Police searched the couple's home after the parents of a 3-year-old girl reported that she told them Quick and Light had touched her inappropriately and photographed her at their home on Feb. 28.

Deputies seized several computers, cameras, a video camera, pornographic materials, drugs and drug paraphernalia. Several sex toys that appeared in the video were seized during a second search, police said.

Quick and Light were arrested March 5. Neither has a criminal history.

Authorities have removed the couple's daughter from their home.

Fault lines open in talks over global crisis fixes

2009-03-14T21:00:00.000-07:00

There's widespread agreement among the world's biggest countries that the current global financial and economic crises require global solutions. But as leaders from twenty of those countries gather this weekend in London, that may be about all they can agree on.

The upcoming meeting is the last of a series of preliminary sessions before an April 2 summit that was called to try to reverse the downward spiral in the global economic and financial systems.

There’s little debate over the scope and urgency of the problem. And all parties have called publicly for a unified approach to economic stimulus programs, coordinated efforts to bail out the battered financial system and tougher, comprehensive rules to prevent the global financial system from running off the rails again.

When the time comes to work out the details, the limits of global harmony quickly become apparent.

“I think they’re pretty disunified,” said Simon Johnson, a professor at MIT’s Sloan School of Management and former chief economist at the International Monetary Fund. “But they don’t obviously want to present that too publicly.”

After months of preliminary work, several major fault lines have opened, largely between the U.S. and European countries, say analysts. The Obama administration, represented this weekend by Treasury Secretary Tim Geithner, has been pressing European countries to boost spending. For their part, the Europeans have been urging quick action on tightening financial regulations.

Officials on both sides of the Atlantic have been teeing up the issues this week. On Tuesday Federal Reserve Chairman Ben Bernanke outlined the issue facing U.S. financial regulators, but pointedly lowered expectations for the April G-20 summit.

“I think it's asking too much for a meeting like that to come out with detailed proposals in many different areas,” he said.

Bernanke focused much of his speech on the need for a more centralized approach to U.S. regulations that could more closely monitor increased risks to the entire financial system, not just the risks faced by individual banks.

But so far, no one has figured out how to pull that off.

“The fact that the best idea they can come up with is a 'college of regulators' — which essentially means air miles for the regulatory industry — suggests that we are not seeing any coordinated action,” said Tom Vosa, head of economics research for nabCapital in London. “That’s not surprising because different countries have different histories of their banking system. The structures are entirely different.”

Given the complexity of those different regulatory systems — not unlike the multiple federal and state financial regulations in the U.S. — it’s hard to envision a single global regulator with the sweep and authority to undertake the kind oversight being discussed, according to Sebastian Mallaby, a senior fellow at the Council on Foreign Relations.

“This G-20 meeting in April 2 is not going to resolve financial regulation,” he said. “It’s just too difficult and too complicated. There’s been some noise from the Europeans saying, ‘Gee, we’ve got to regulate hedge funds’ and so forth. That’s because they want to change the subject from the fact that they ought to have more fiscal stimulus.”

AIG paying millions in bonuses despite bailout

2009-03-14T20:58:00.000-07:00

WASHINGTON - American International Group is giving its executives tens of millions of dollars in new bonuses even though it received a taxpayer bailout of more than $170 billion dollars.

AIG is paying out the executive bonuses to meet a Sunday deadline, but the troubled insurance giant has agreed to administration requests to restrain future payments.

The Treasury Department determined that the government did not have the legal authority to block the current payments by the company. AIG declared earlier this month that it had suffered a loss of $61.7 billion for the fourth quarter of last year, the largest corporate loss in history.

Treasury Secretary Timothy Geithner has asked that the company scale back future bonus payments where legally possible, an administration official said Saturday.

This official, who spoke on condition of anonymity because of the sensitivity of the issue, said that Geithner had called AIG Chairman Edward Liddy on Wednesday to demand that Liddy renegotiate AIG's current bonus structure.

Geithner termed the current bonus structure unacceptable in view of the billions of dollars of taxpayer support the company is receiving, this official said.

Contractual obligations

In a letter to Geithner dated Saturday, Liddy informed Treasury that outside lawyers had informed the company that AIG had contractual obligations to make the bonus payments and could face lawsuits if it did not do so.

Liddy said in his letter that "quite frankly, AIG's hands are tied" although he said that in light of the company's current situation he found it "distasteful and difficult" to recommend going forward with the payments.

Liddy said the company had entered into the bonus agreements in early 2008 before AIG got into severe financial straits and was forced to obtain a government bailout last fall.

The large bulk of the payments at issue cover AIG Financial Products, the unit of the company that sold credit default swaps, the risky contracts that caused massive losses for the insurer.

A white paper prepared by the company says that AIG is contractually obligated to pay a total of about $165 million of previously awarded "retention pay" to employees in this unit by Sunday, March 15. The document says that another $55 million in retention pay has already been distributed to about 400 AIG Financial Products employees.

The company says in the paper it will work to reduce the amounts paid for 2009 and believes it can trim those payments by at least 30 percent.

Bonus programs at financial companies have come under harsh scrutiny after the government began loaning them billions of dollars to keep the institutions afloat. AIG is the largest recipient of government support in the current financial crisis.

Firm pledges to restructure bonuses

AIG also pledged to Geithner that it would also restructure $9.6 million in bonuses scheduled to go a group that covers the top 50 executives. Liddy and six other executives have agreed to forgo bonuses.

The group of top executives getting bonuses will receive half of the $9.6 million now, with the average payment around $112,000.

This group will get another 25 percent on July 14 and the final 25 percent on September 15. But these payments will be contingent on the AIG board determining that the company is meeting the goals the government has set for dealing with the company's financial troubles.

The Obama administration has vowed to put in place reforms in the $700 billion financial rescue program in an effort to deal with growing public anger over how the program was operated during the Bush administration.

That anger has focused in part on payouts of millions of dollars in bonuses by financial firms getting taxpayer support.

Skiing: Svindal clinches World Cup overall

2009-03-14T08:38:00.002-07:00

ARE, Sweden — Aksel Lund Svindal of Norway has clinched his second World Cup overall title when Benjamin Raich of Austria straddled a gate in the opening run of the final slalom of the season and was disqualified.

Raich, the only skier who could catch the leading Svindal, trailed by two points going into the final race of the season.

Svindal also won the overall in 2007.

Raich, who started first, quickly found his rhythm and skied smoothly through the first gates at the top of the course before straddling a gate about halfway down on Saturday.

A three-time winner of the World Cup slalom season title, Raich finished the season with 1,007 points.

Svindal, one of the last starters, had 1,009 points going into the race.

The 31-year-old Raich, who also won Olympic and world championship golds in the slalom, failed to pick up points in four of 10 slaloms this season.

In Tape, Bin Laden Calls Gaza Offensive a ‘Holocaust’

2009-03-14T08:38:00.001-07:00

CAIRO (AP) -- Al-Qaida leader Osama bin Laden called Israel's offensive in the Gaza Strip a ''holocaust'' and lashed out at Arab governments that he said failed to stop the bloodshed in an audio recording broadcast Saturday.

Bin Laden, whose message was released in excerpts on Al-Jazeera TV, called Arab leaders hypocrites and accused them of sacrificing the Palestinians in Gaza and collaborating with Israel. The three-week offensive, which ended on Jan. 18, killed about 1,300 Palestinians, according to Palestinian human rights groups.

''It was clear that some of the Arab leaders have collaborated with the Crusader-Zionist alliance against our people, those whom America calls the moderate leaders,'' said bin Laden. ''We must disown ourselves from all those'' governments.

He did not mention any governments by name in the brief excerpts, but Egypt, in particular, drew criticism during the offensive for not opening its border with Gaza to more aid shipments and humanitarian cases.

Both Israel and Egypt have closed their borders with Gaza since the Islamic militant group Hamas violently seized control of the Palestinian territory in June 2007. The closure deepened economic hardship in the already impoverished strip, home to 1.4 million Palestinians.

It was bin Laden's second audio message on the Gaza offensive since January, when he urged Muslims to launch a jihad against Israel. It was not possible to verify the message's authenticity. A spokesman for Al-Jazeera refused to say how the network obtained the recording.

The terror leader again urged Muslims to fight Israel.

''The Gaza holocaust, amid this prolonged embargo, is an important historic event and a catastrophe that shows the necessity of distinguishing Muslims from hypocrites,'' he said. ''It is not right that our situation after Gaza will be as it used to be before. There should be serious work and preparation for jihad to fulfill righteousness and defeat evil.''

Australian oil spill worse than thought

2009-03-14T08:37:00.001-07:00

Ten times more oil than originally thought leaked from a ship to blacken miles of white sand beaches along Australia's northeast coast, a government official said Saturday.

Authorities declared a disaster zone along 37 miles (60 kilometers) of some of Australia's most popular beaches in Queensland state after they were covered in a blanket of heavy fuel oil that spilled from a ship hit by rough seas on Wednesday.

Queensland state Deputy Premier Paul Lucas told Australian Broadcasting Corp. radio Saturday that officials originally thought between 5,300 and 7,900 gallons (20,000 and 30,000 liters) of oil had leaked from the ship. Lucas said it is "now apparent" that the amount of oil spilled was around 60,700 gallons (230,000 liters). He did not explain how he arrived at that estimate or offer any further details.

Anthony Tregoning, spokesman for Britain's Swire Shipping Ltd., the Hong Kong-registered ship's owner, said the company would not be releasing any further figures on how much oil had spilled.

Queensland officials accused the company of initially misleading the government about the size of the spill. Premier Anna Bligh said the company told the government the spill was much smaller, leading officials to predict there would be little environmental damage.

Swire said containers of fertilizer had slipped from the ship's deck as it rocked in rough seas, ripping a hole in a fuel tank and spilling more than 11,000 gallons (42,500 liters) of oil into the sea. On Friday, the company said an inspection of the hull led it to conclude the amount of spilled oil was "significantly more" than that, but did not give a figure.

National parks at Moreton and Bribie islands just north of the state capital of Brisbane were hardest hit by the oil, and fuel also washed ashore in pockets along the Sunshine Coast.

Hundreds of government workers trudged along beaches Saturday, scooping up black, sludgy sand and throwing it into bags. Bligh said most of the cleanup on the Sunshine Coast and Bribie Island was completed Saturday, though the cleanup of Moreton Island was expected take longer.

The Environmental Protection Agency said no dead wildlife had been discovered so far.

The Australian Maritime Safety Authority said the ship, brought to port still leaking oil, would not be allowed to leave until officials were satisfied the spill had been explained. Queensland officials threatened the shipping company with a multimillion-dollar lawsuit.

Under Australian law, the ship's owners face fines of up to 2 million Australian dollars ($1.3 million) and could be liable for up to AU$250 million ($160 million) more in penalties for causing environmental damage.

In a statement, Swire said it regretted the extent of the pollution caused by the spill and said the company and its insurers were talking with the government about cleanup costs.

Pakistani troops on alert ahead of protests

2009-03-14T08:35:00.000-07:00

Pakistan's government put the army on alert ahead of planned opposition protests in the capital, the military said Saturday, raising the stakes in a political crisis that endangers the country's effort against Islamist extremism.

In another sign of strain on the pro-Western government, a prominent minister tendered her resignation from the Cabinet after a television station complained its coverage of the standoff was curbed.

Authorities have vowed to prevent lawyers and supporters of opposition leader Nawaz Sharif from converging on Islamabad for a mass sit-in in front of Parliament on Monday, arguing it will paralyze the administration and present a target for terrorists.

President Asif Ali Zardari on Saturday offered to negotiate a solution to a conflict triggered by last month's removal of Sharif's party from power in the country's biggest and richest province, Punjab.

But protest leaders are vowing to defy the widening clampdown, raising the likelihood of violent clashes that could cast the nuclear-armed country into turmoil just a year after democratic elections ended years of military rule.

In response, the government alerted the army. Authorities have blocked the main boulevard leading to Parliament with metal shipping containers and say they also have to protect nearby foreign embassies. The area is already a high-security zone.

Information Minister Sherry Rehman announced her resignation from the Cabinet on Saturday after the private Geo TV channel complained that cable TV companies had blocked its programming in several cities.

Geo accused Zardari of ordering the restrictions - an allegation his spokesman Farhatullah Babar said was "absolutely incorrect."

Rehman, who has often spoken in defense of media freedoms, didn't explain her decision, and the channel appeared to be available again on Saturday in major cities.

Police have temporarily detained scores of activists across the country, including five people at a gathering of hundreds of lawyers and Sharif supporters Saturday in the central city of Multan.

"So far our attitude is soft, but we can change our strategy," said Ali Ahmad Kurd, the leader of the country's lawyers movement, said in Quetta after authorities allegedly prevented him from boarding a plane to the eastern city of Lahore.

"When one path is blocked, God opens 100 others, and we will reach Lahore and then Islamabad," said Kurd, whose road convoy was turned back by police a day earlier.

Pakistan's lawyers are mobilizing against Zardari's refusal to reinstate a group of judges, including the former Supreme Court chief justice, fired by former military leader Pervez Musharraf.

Sharif, widely viewed as the country's most popular politician, threw his weight behind the already planned protest last month when the court banned him and his brother from elected office.

Zardari then dismissed the Punjab provincial administration, which had been led by Shahbaz Sharif and was his party's only foothold in Pakistan's patronage-based political system.

Army spokesman Maj. Gen. Athar Abbas said the government put the army on notice on Friday that an unspecified number of troops might be needed to protect "sensitive areas" in Islamabad and elsewhere.

"When the situation deteriorates, gets out of hand of police, paramilitary (troops), only then the army is deployed," Abbas told The Associated Press.

Washington, which wants Pakistan to focus on the threat from the Taliban and al-Qaida and help boost the faltering war effort in Afghanistan, has been pressing all sides to resolve their differences.

U.S. Ambassador Anne Patterson met with Prime Minister Yousuf Raza Gilani late Friday, Gilani's office said, shortly before the premier huddled with the president and other officials.

After talks that dragged into the early hours of Saturday, the government decided to try to defuse the tension through dialogue, a presidential statement said.

It didn't indicate what concessions the government could make and Sharif loyalists vowed the protest would go ahead.

However, there have been suggestions that officials are considering letting Sharif's party return to power in Punjab, where no party holds an outright majority in the suspended provincial assembly.

A formerly pro-Musharraf party, which holds the balance of power in Punjab, ruled out taking sides in the feud on Saturday, calling for all three to form a unity government in the region.

No decision on seat sharing in Bihar UPA: Congress

2009-03-14T08:33:00.002-07:00

The decision on seat sharing among Cogress, RJD and LJP in the state was yet to be finalised, Bihar Pradesh Congress Committee President Anil Kumar Sharma said.

SP changes mind, to contest against Jitin Prasad

2009-03-14T08:33:00.001-07:00

The SP announced its candidate from Dhaurara parliamentary constituency, one of the six seats which it had said it will leave for Congress following a deadlock over seat sharing in Uttar Pradesh.

No military solution to Tamil issue in Sri Lanka: Mukherjee

2009-03-14T08:32:00.003-07:00

External affairs minister Pranab Mukherjee said that India was deeply concerned at the sad plight of the Tamil civilians in Sri Lanka who have been the victims of crossfire but insisted that there was no military solution.

Karnataka unit of Janata Party ”merges” with BJP

2009-03-14T08:32:00.001-07:00

Karnataka unit of Janata Party, led by its President Ashok Navalagund, today ”merged” with the BJP ahead of the Lok Sabha elections.

BJP poll promises: Mandatory I-cards, laptops at Rs 10,000

2009-03-14T08:30:00.000-07:00

If voted to power, BJP will make Multi-purpose National Identity Cards mandatory, provide laptops to students at Rs 10,000 and give free mobile phones to people below poverty line.

India replies to Pakistan’s queries on 26/11 attack

2009-03-13T23:00:00.001-07:00

India on Friday handed over the response to Pakistan’s 30 questions on the Mumbai terror attacks in an effort to push Islamabad to

move forward on the investigations. The response to Pakistan questions was contained in a 401-page dossier that was handed over by foreign secretary Shivshankar Menon to Pakistan’s high commissioner to India Shahid Malik.

Sources said the response is “comprehensive and detailed” and includes CDs of the intercepted voice recordings of the conversation between the Mumbai attack terrorists and their handlers, Abu Hamza and Kahfa. The external affairs ministry said India had responded to all the 30 questions asked by Pakistan. The response also includes fingerprints of the terrorists and the other detail that Pakistan wanted.

India has answered all the 30 questions but an additional query from Pakistan on former ATS chief Hemant Karkare and oblique references to the Samjhauta express through Lt Col Prasad Shrikant Purohit do not figure in India’s response. Pakistan had asked for an eyewitness account of Karkare’s killing as he was investigating the Malegaon case and Purohit’s involvement.

India’s response comes at a time when Pakistani President Asif Ali Zardari is trying to defuse a political crisis that could even end in his own ouster. Sources said they expected the investigations and the legal process to move forward despite the preoccupation of the Zardari regime.

In a bid to satisfy Pakistan’s demand for evidence that would stand up in a court of law, the dossier also contains proof along with detailed responses to each of the 30 questions. “We expect Pakistan to prosecute and punish the accused. It is a comprehensive document supported by documentary evidence,” said home minister P Chidambaram, who handed over the dossier to external affairs minister Pranab Mukherjee.

The MEA forwarded the dossier to Pakistan through the Pakistani High Commission. The home minister also said the response to every question had been supported by detailed evidence including documents, CDs and forensic reports. “If Pakistan is serious about investigating the origins of the dastardly act, these answers provide a solid base,” Mr Chidambaram said.

A ministry of external affairs statement asked Pakistan to take credible action. “It is our hope and expectation that this step will lead to bringing the perpetrators of the Mumbai attacks to justice and to credible action by government of Pakistan against the infrastructure of terrorism in that country,” it said.

Pakistan had asked India to hand over the response by March 13 citing legal issues related to the detention of the six Mumbai attack suspects in Pakistan. In its questionnaire, Pakistan had asked a range of questions ranging from DNA samples, postmortem reports and fingerprints of all the Mumbai attack terrorists to the forensic analysis of the Thuraya phone and other phones used by the 10 terrorists who carried out the attacks.

It also sought details of the interrogation of two Indian nationals who were arrested for providing mobile phone SIMs to the terrorists. After meeting Mr Menon and collecting the dossier, the Pakistani high commissioner said: “It is
helpful to us to carry out our investigations.”

India hands over replies to Pakistan

2009-03-13T22:58:00.000-07:00

India on Friday handed over its response to the clarifications sought by Pakistan investigating linkages of its nationals to the Mumbai terror attacks in November last year. The replies were submitted to the Pakistan High Commissioner Shahid Malik at the External Affairs Ministry in the evening.

‘Answers comprehensive’

Union Home Minister P. Chidambaram said the answers were “very comprehensive” and should be sufficient for Pakistan to act decisively against the perpetrators of the terror strikes.

“We have put together answers to 30 questions submitted by Pakistan. It is a very comprehensive document, answering each of the 30 questions,” he told newspersons, after handing over the replies, along with the evidence to External Affairs Minister Pranab Mukherjee.

The Ministry of External Affairs hoped that this step would help bring the perpetrators of the Mumbai attacks to justice.

It also expected Islamabad to ensure “credible justice and to credible action against the infrastructure of terrorism in the country.”

Mr. Chidambaram said the replies were backed by documentary proof, CDs and forensic evidence.

India’s response runs into about 500 pages and has nearly 16 annexures.

The material includes DNA profiles and fingerprints of the 10 attackers, photographs from closed circuit television, global positioning system details, and copies of key documents, including transcripts of conversations.

US collector wants auctioned Gandhi memorabilia back

2009-03-13T22:56:00.000-07:00

Washington, March 14: Citing a "political turn" to events in India, US-based collector James Otis now wants a New York auction house to return a few of Mahatma Gandhi's personal belongings sold for USD 1.8 million in a controversial auction.

"It has become very political in India. The items are being used in a fashion that are not Gandhian at all," the peace activist who had made a futile last minute bid to withdraw the five auctioned items, told a news service over the phone.

Otis, who had earlier reconciled himself to the sale of Mahatma Gandhi's iconic round eye glasses and other personal belongings -pocket watch, sandals, eyeglasses, bowl and plate - to Indian business baron Vijay Mallya, said he was unhappy with the turn of events ahead of elections in India.

As a first step, his lawyer Ravi Batra explained, they were notifying Antiquorum Auctioneers that the sale was null and void as conditions under which he had put the items for auction no longer exist. He would also tell them that he would not ratify the sale.

Without Otis's ratification of the sale they can only turn over the possession to the buyer but not the title of ownership, he said. Under the law of contract, the auctioneer may at best have a claim to expenses if the seller chooses to change his mind.

Batra recalled that he had delivered a letter to Antiquorum before the March 5 auction saying that Otis wanted his stuff back. He had also held a press conference to inform the prospective buyers that the sale was illegal in view of a notice by US Justice Department of a Delhi High Court order staying the auction.

But when Antiquorum went ahead with the auction and the items were sold to Mallya, Otis decided not to contest the sale on the understanding that he would hand them over to the Indian government. But when he saw people jockeying for political benefits in India, he again changed his mind and went on a fast.

Asked if Otis planned to file a case in the New York State Supreme Court in an effort get the items back, Batra said: "We may end up there next week. But we are not there yet." It all depends on how the auction house responds to their notice.

Asked whether he would donate the items to the India, Otis said he had made a proposal to the Indian government to either increase allocation for the poor or sponsor a 78-nation tour of Gandhi's items to promote his principle of non violence.

He said he had received no formal response to the proposal though he had read in the newspapers that it had been rejected. He would continue negotiations with the government, he added.

Asked to comment on the development, a spokesperson of the Indian Consulate General in New York said the matter is sub judice in view of the Delhi High Court order and Justice Department notice. "As far as we are concerned, our role is over."

Citibank introduces mobile banking with Citi Mobile

2009-03-13T22:54:00.002-07:00

Citibank has recently introduced City Mobile, its mobile banking solutions, to provide convenience and on-the-go banking with upgraded mobile technology that is compatible with the popular mobile handsets across most GSM operators. With Citi Mobile, bank customers can check account balances, issue drafts, make credit cards, send money, request for a cheque book and much more.

Citi Mobile can be easily downloaded onto a mobile phone and the subscribers should have a Citibank Banking/ credit card account, a mobile phone number that is registered with the bank, an active internet PIN and a Java-enabled mobile phone with a GPRS connection.

Japan Plans New Economic Stimulus Package

2009-03-13T22:54:00.001-07:00

Japan announced the implementation of a new 100-trillion yen economic stimulus package lately. The details of the package are however to be made public only in the beginning of April 2009.

Japan had already introduced several stimuli packages earlier worth a total of 75 trillion yen. They are made up of two extra budgets for the current fiscal year and the principal budget for the next fiscal 2009 with fiscal spending of 12 trillion yen.

The plan will be presented at a meeting of G20 leaders in April in London.

Reliance attracts 3.3 million customers in Feb

2009-03-13T22:52:00.002-07:00

One of India's leading mobile operators, Reliance Communications, has attracted 3.3 million wireless customers in the month of February, as stated by the company. The total number of customers till the end of January was 66.3 million, as displayed by the telecom regulator's data.

RIL to start production by mid April

2009-03-13T22:52:00.001-07:00

Reliance Industries Ltd is likely to commence gas production from its east coast field by the month of mid-April. It would start gas output from its eight wells with an expected production rising to 40 mn cubic meters a day by August and peak at 120 mn cubic meters a day.

At present, RIL is checking the condition of its 1440 kilometer pipeline that will carry the gas from the manufacturing place to the western state of Gujarat.

ROBIN BANERJEE APPOINTED AS CFO OF SUZLON

2009-03-13T22:51:00.002-07:00

The fifth largest turbine maker of world, Suzlon Energy, has filled its post of chief financial officer (CFO) by appointing Robin Banerjee with immediate effect. Robin Banerjee is having an international working experience as he has worked at the top positions of varied domains like finance and treasury and M&A in industries like travel, steel, FMCG, auto etc.

Sumant Sinha, the COO of Suzlon, said that Robin's experience of working will bring value to the company for its share holders.

Simplex Infrastructure eying to grow revenue by 30%-40%

2009-03-13T22:51:00.001-07:00

Construction company Simplex Infrastructures Ltd is eying to grow its revenue by 30% - 40% with a core margin of 10% in the near future by maintaining a good order book, as stated by a company official.
The company is looking out to maintain its order book at Rs.100-120 billion till the end of this year, as stated by Amitabh Mundhra, Director of the firm.

RBI TO CONDUCT SPECIAL REPO AUCTION

2009-03-13T22:50:00.001-07:00

The Reserve Bank of India is going to have a repo auction for Rs.583.30 billion on Friday and its reversal on March 30 as stated by the bank.

A special repo facility for Rs.200 billion special was introduced October 14 in order to meet the mutual funds liquidity needs. The facility was increased later to Rs.600 billion to meet the needs of housing finance companies and non-banking financial companies also.

Hyundai i10 sales crosses 3,00,000 units

2009-03-13T22:49:00.001-07:00

Hyundai Motor India Ltd (HMIL), one of India's leading car makers, has stated that its small family car i10 has successfully crossed the sales mark of 3,00,000 units since it has been launched in October 2007. Around 1.44 lakh units have been sold in India and other 1.56 lakh units were exported to more than 100 countries world over, as stated by the company.

HMIL exacted it is the fastest ever sale of 3,00,000 units of any car amongst its competitors. HMIL Senior Vice-President (Marketing and Sales) Arvind Saxena stated that he would like to thank all the customers in India and abroad to select i10 over others and to make it reach to that height.

North East States Report

2009-03-13T22:37:00.000-07:00

The North East Region (NER) refers collectively to the eight states located in the midst of the East Himalayan region, comprising Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim and Tripura. Primary sector activities mainly comprise of cultivation on which approximately 75 per cent of the region's population depends for employment; agriculture accounts for approximately 30 per cent of the Net State Domestic Product (NSDP).

Industrial products primarily include crude petroleum, natural gas, tea, minerals and steel fabrication. Total amount of investment approved by the Ministry of Development of North-East Region (DoNER) was US$ 1.31 billion. The maximum amount was approved for Assam, Tripura and Nagaland for roads, power and education sectors.

State Report (FY 2008-09)
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State Presentation (FY 2008-09)
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Govt plans stimulus package for chemical industry

2009-03-13T22:34:00.000-07:00

Days after announcing excise duty cuts on commodities like steel and cement, the government is working on a plan to provide a major stimulus to the chemicals and petrochemicals industry by revising Customs/excise duty on inputs required by the industry.

The proposals under consideration include waiving the current 5 per cent Customs duty on naphtha and reducing the excise duty on mono ethyl glycol (MEG) from 8 per cent to 4 per cent.

The Cabinet secretariat has sought views from various ministries and departments for this package. “The chemical sector is one of the sectors that have been adversely affected by the global economic crisis,” the Department of Chemicals and Petrochemicals has observed.

Drastic fall in prices, slump in export orders and a substantial slowdown in demand in the domestic market have forced the chemical industry to curtail expansion plans and operate at lower capacities.

Grasim, which manufactures viscose staple fibre for the textile industry, saw sales volume decline by 22 per cent in the third quarter. Consequently, the company has decided to scale down production.

With the crash in crude oil prices from $147 per barrel in July 2008 to $40-45 levels now, prices of all chemicals, solvents, polymers and petrochemicals have also fallen sharply. Currently, prices of many chemicals are prevailing at the 2002-03 levels, according to industry experts.

The above measures have been proposed following the department’s interaction with industry associations, including the Chemicals and Petrochemicals Manufacturers Association, All-India Plastic Manufacturers Association, Indian Chemicals Council, Association of Synthetic Fibre Industry and Alkali Manufacturers Association of India.

'We outsource for value, not cost'

2009-03-13T22:32:00.000-07:00

As banks continue to look at outsourcing most of their IT services, UK-based major Standard Chartered continues to have a large in-house IT team servicing close to 60% of its functions. While Citi is the only major bank to sell off its IT captives, the European bank has no such plans with its back-office Scope International based in Chennai, StanChart’s Group Head of Technology David Awcock says in an interview..

Q: What percentage of StanChart's overall IT spends is outsourced to third-party vendors and how much of it is to Indian IT vendors?

A: We have 6,000 employees in our IT team at StanChart across the world with a majority of them in India. We outsource approximately 40% of which close to 10% is to Indian vendors. Only a limited portion is outsourced as we have our own expertise to handle most IT functions. While data centre network services and desktop support services continue to be managed by third-party vendors, only a limited part of our software services is outsourced.

Q: Will you increase outsourcing as it would help save costs further?

A: Firstly, we have never outsourced because of cost arbitrage. We look at the capabilities we have in Chennai and Kuala Lampur as value and not cost centres. Yes, these are challenging times and we are doing everything to ensure that we use this opportunity to increase efficiency internally. However, we will not be outsourcing any more than we already have. We have our own expertise in wholesale banking and payment systems, which we would not like to outsource to a third party as they would not value IT, the way we do.

Q: How is it more cost-effective to develop your solutions in-house compared to outsourcing?

For our in-house developed core banking software platform we do not need to pay a vendor for licensing the application software. Charges usually consist of an initial licence charge (ILC) per country plus an annual maintenance charge (AMC) which is up to 20% per annum of ILC typically. In addition our software development from the outset has been based upon using JAVA and other open source tools to run in a Linux environment. This provides us with a low-cost development platform going forward and a cost-effective operating platform. For instance, we recently launched our own core-banking product in Chennai that has been released across 31 other geographies over the last five years. We will not want to give this up as we believe it is better than any other package or solutions present in the market.

Q: Are you re-negotiating any of your current contracts? Do you see a drop in billing rates?

A: All our vendor contracts that are coming up for renewal will now be negotiated very keenly. Especially with desktop and network vendors. Now is a good time for us as customers are in a better position to bargain with vendors as there is some tough competition between vendors. Each one wants to do better than the other in the services offered. We are expecting a downward revision of at least 10% compared to the current bill rates.

Q: How is your relationship with Indian vendors changing?

A: Vendors are willing to be more flexible now and it is easier to draw contracts. Indian vendors have been very much fixed on their US business and also maintaining high margins. This is changing. We never looked at Indian vendors for low costs, but for skills and niches we did not have. Earlier only the likes of IBM and EDS used to approach us with infrastructure services. But these days Indian vendors too are approaching us with these services and not just software services. We are having healthy discussions with them and are looking at contracts that add both value and are cost-effective for us.

Q: Do you prefer to work with large vendors or are you open to working with the smaller ones too?

A: We have relationships with large vendors in India which are satisfactory. We are willing to talk to smaller vendors as they are more flexible and have new ideas. If the smaller guys have the expertise in niche areas like financial markets and it suits our needs, then we would be very much interested. But we prefer to work with fewer vendors. Currently we are working with about three large ones and 10-11 smaller vendors.

India bright spot in MNC gloom story

2009-03-13T22:28:00.000-07:00

Indian subsidiaries, relatively minor cogs in the wheels of large multinational companies until 2007, have emerged as crucial profit generators, as earnings in developed western markets tumble amid the worst economic downturn in a generation.

Barring a few exceptions, the locally-listed units of companies such as ABB, Glaxo, Siemens, Cummins, Oracle, Suzuki, Whirlpool, Nestle and Areva have increased their contribution to the global consolidated earnings, as growth remains robust in various sectors of Indian industry.

Significantly, this has happened despite a sharp depreciation of the rupee against major international currencies in the past one year, which tends to depress earnings in dollar terms, as the dollar value of the subsidiary’s contribution is lower after currency conversion. Had this not happened, the contribution of these Indian units would have been much higher.

The Indian unit of engineering group ABB contributed 18% of global profits in the last quarter. ABB India posted a net profit of Rs 193 crore ($50 million) in the October-December quarter of 2008, up 7% from the year-ago period. The parent company, by comparison, posted a nearly 88% drop in net income globally for the fourth quarter at $213 million.

Diesel engine maker Cummins reported a 78% jump in net profit to Rs 133 crore in the fourth quarter of 2008 at its Indian operations. This comes at a time when its parent’s net earnings more than halved to $43 million. As a result, Cummins India’s contribution to global earnings has jumped to almost 63% from about 10% in the Q4 of 2007.

Ditto with business software major Oracle, which acquired Indian banking software company i-flex (now Oracle Financial Services Software) four years ago. It posted a 74% increase in profits (Rs 193 crore) from India for the October-December quarter. For the same period, Oracle’s global earnings fell 0.7% to $1.29 billion.

India’s biggest carmaker, Maruti Suzuki, has helped its Japanese parent despite lower profits. Suzuki’s losses during the last quarter would have been higher by 32% (around 4 billion yen) had it not been for the contribution from Maruti.

Similarly, consumer durables company Whirlpool India reported lower earnings for the October-December quarter, but still contributed a higher percentage of profit, which rose to 3.2% from 1.1%.

Despite a drop in revenues during the fourth quarter, Siemens India’s contribution to its parent’s earnings has risen to around 4% from 0.5%, while in the case of GlaxoSmithKline, which has two separate listed companies in India, the combined profits from its consumer goods and pharma units more than doubled to Rs 240 crore. The UK parent reported a 10% drop in earnings to £1 billion during the quarter.

Some like Colgate reported better earnings growth in India compared to the global firm, but a 25% depreciation in the rupee’s value against the dollar over the past one year brought down its contribution to the consolidated earnings. Swiss cement maker Holcim’s two Indian firms, ACC and Ambuja Cements, together saw profits drop around 25% for 2008. But this drop was much lower compared with Holcim, the profits of which for the year more than halved.

India’s economy, which grew by more than 9% on average in the past three years, is expected to slow to near 6-7%, but this is far better than the deep recession staring at most developed economies. However, HDFC Bank chief economist Abheek Barua chose to play down the impact of Indian subsidiaries.

“Whether India and China can help the global economy to grow with them is yet to be seen. Similarly, it is still unclear whether the Indian arms can lift the global performance of MNCs to stem the global downturn,” he said.

The past two years have seen a sea change in the profile of a majority of Indian arms of multinationals, from being revenue drivers for their parents, they have now metamorphosed into significant profit generators. Nestle India reported a 29% jump in net profit for 2008, while its Swiss parent posted a 17% drop in profit, excluding a one-time gain from a stake sale in a company.

One exception to the trend was Hindustan Unilever. Its Anglo-Dutch parent Unilever reported a sharp 51% jump in profits during the fourth quarter of 2008, while the Indian arm reported a decline in profits. A company spokesman did not respond to a specific query on the likely reasons behind the dip in profit contribution, but the firm had earlier said its profit decline was because of exceptional items.

Profits apart, for many global firms, India is generating better revenues too. For the world’s largest mobile operator, Vodafone, its Indian subsidiary Vodafone Essar posted a 37.3% jump in revenues to $674 million for the quarter ended December 31, the highest in percentage terms among the 30-plus countries it operates in. Two of every three new mobile customer that Vodafone added during the quarter globally were in India.

For GlaxoSmithKline’s consumer healthcare business, India is among the top five markets globally in terms of sales. The company believes its focus on local brands is giving it the edge. “Only 5% of our sales in India come from global brands, the rest is from brands managed locally. This speaks of the potential the local arm has,” said executive vice-president for marketing Shubhajit Sen.

Coca-Cola India is another example. Although it does not have a publicly-listed arm in India and its profit contribution is not known, the company has delivered its 10th straight quarter of growth. In India, the company’s unit case volumes increased 28% in the fourth quarter. Nestle has also generated eight straight quarters of 20% plus sales growth.

FDI shoots up 90% this fiscal to Rs 85,700 cr

2009-03-13T22:23:00.002-07:00

Foreign investment inflows into India grew 90% in the first eight months of the current fiscal year, indicating that the country continues to be an attractive destination for investors despite a fall in economic growth rates.

Foreign direct investment (FDI) inflows during the April-November period stood at Rs 85,700 crore compared with Rs 45,000 crore in the corresponding period of the previous fiscal, despite most of the developed world reeling under the impact of a global recession. According to the FDI data compiled by the commerce and industry ministry, investments from three Asian countries — Mauritius, Singapore and Japan — contributed more than 55% of the total inflows during the period.

Economists see nothing unusual in the situation. “Today, India and China are the warm spots in the global economy. We expect high growth in India as there is huge unmet demand. India is growing faster than the more mature economies of the world, and this is luring investors into India,” Boston Consultancy Group chairman Arun Maira said.

Mauritius remained the largest source of foreign investment, with the island nation contributing Rs 35,000 crore in FDI inflows during the April- November period, almost doubling its contribution from Rs 19,000 crore in the same period of the last fiscal.

Singapore replaced the US as the second-largest source of long-term investments into India. Singapore, which was placed fifth last year, saw its investments growing to Rs 8,500 crore during the period from Rs 3,500 crore in the same period last year.

Increased investment from Singapore came from the investment arms of the government: GIC and Temasek. Temasek Holdings Advisors India made a Rs 2,500-crore investment in Bharti Infratel while GIC affiliate Indivest Pte invested Rs 900 crore in Reid & Taylor, a clothing company promoted by S Kumars. Japanese investment into the country received a major boost when Daiichi Sankyo invested Rs 20,000 crore to pick up 63% stake in Ranbaxy.

However, the FDI figures captured by government statistics may not necessarily reflect the actual origin of investment. For instance, tax havens like Mauritius are used by investors from across the world to invest in India.

While Mauritius remains the No. 1 source of such FDI routed into India, other tax havens are also catching up. European hub Cyprus is gaining ground as a favoured route for channelling FDI into the country. Investments from Cyprus doubled to Rs 4,486 crore in the April-November period this fiscal from Rs 2,000 crore in the same period last year.

Inflation falls to over six-yr low of 2.43%

2009-03-13T22:23:00.001-07:00

Inflation fell to a six-year-low of 2.43% for the week ended February 28 from 3.03% in the previous week, raising possibilities of further rate cuts. Analysts expect it to reach 0% by the end of this month. Lower prices of food items and manufactured products resulted in a fall in the inflation.

“Wholesale price index (WPI)-based inflation is now at its lowest level since June 2002, This is on the expected lines. It was during last February and March that inflation increased. The prices of commodities, primarily oil and foodgrains, have moderated,” said Pronab Sen, chief statistician of India and secretary, ministry of statistics & programme implementation.

Inflation is now below Reserve Bank of India (RBI’s) target of 3% by this fiscal-end. The fall in inflation has also raised hopes of further rate cuts by the Reserve Bank of India to spur the economy as industrial output contracted to 0.5%, for the second month in a row in January 2009. The RBI could cut policy rates by 50 basis points ahead of the general elections starting in mid-April, HSBC said in a note on Thursday. With a decline in the commodity prices, fiscal policies eased resulting in interest rate cuts, domestic activity should remain resilient, HSBC said. The RBI slashed its short-term lending and borrowing rates by 50 basis points each last week.

Inflation for the week ended January 3, 2009, was revised upward to 5.33% from 5.24% in the provisional estimates.

The 30-share BSE Sensex ended up 2.25% at 8,343.75 points and the 50-share NSE Nifty ended up 1.72% at 2,617.45 points, as investors tried to catch up with the upward movement on Wall Street on Tuesday and Wednesday. The 10-year bond yield ended at 7.17%, above Monday’s close of 6.84% as investors braced up for heavy supplies of government debt. The rupee ended at 51.88/90 per dollar, from Monday’s close of 51.85/87, and off an intra-day peak of 51.525, as a rise in share prices was offset by renewed dollar buying by crude refiners after a rebound in global oil prices.

Primary articles’ prices decreased to 5.8% for the week ended February 28 from 6% in the earlier week, the finance ministry said in a statement. In food articles, inflation remained stable at 8.3% in the current and previous weeks, but sub-groups such as fruits and vegetables, condiments and spices and other food articles have recorded an increase in prices compared to last week.

In non-food articles, inflation fell to 1.3% compared to 1.7% in the previous week. Fuel and power group prices continued to decline at 5.1% vis-à-vis 4% last week. Manufactured products’ inflation rate decreased to 4% in the current week, from 4.5% last week.

Domestic drug makers immune to slowdown

2009-03-13T22:22:00.002-07:00

At a time when various industries have been been hit due to the current economic slowdown, the domestic pharmaceutical market registered a value growth of 14.4 per cent in January and 9.9 per cent in the 12 months ended January 2009. The yearly turnover was Rs 34,487.17 crore.

The growth of the domestic drug sector, which was just 6.8 per cent in November 2008, improved to 13.2 per cent in December and to 14.4 per cent this January.

“This is because of the seasonal nature of drug sales. Sales of drugs for cough and cold, respiratory diseases, and of other antibiotics are usually more during the November-January winter season,” said Ranjit Kapadia, head of Life Science Research at Prabhudas Liladhar.

Data revealed that while sales of anti-infectives grew 11.6 per cent, the gynaecology segment grew 15.9 per cent, and vitamins and minerals 13.1 per cent. The demand for drugs for respiratory diseases increased 12.1 per cent this January.

This is far ahead of the growth rate of the global generic industry. The rate came down to 3.6 per cent in the 12 months ending September 2008, from 11.4 per cent in the previous 12 months.

Data for January said Cipla — which markets 844 drugs in the domestic market — show it maintained its number one position by growing 14.6 per cent in January. For the 12 months, Cipla’s domestic business grew 13.4 per cent, with a turnover of Rs 1,839 crore. Cipla has 5.34 per cent domestic market share.

The second largest domestic player, Ranbaxy Laboratories, which markets 536 products in the domestic market, grew 7.2 per cent in January. For the 12 months, Ranbaxy’s growth was 11.5 per cent in value terms. Its market share rose to 5.03 per cent. Ranbaxy’s growth in the domestic market in value terms in 2008 was only 7 per cent, with a turnover of Rs 1,485 crore, compared with Rs 1,393 crore in 2007.

ORG-IMS data revealed that the market share of the other top 10 companies in the domestic market remained more or less the same. GlaxoSmithKline retained its third position, followed by Piramal Healthcare, Zydus Cadila, Sun Pharma, Alkem Laboratories, Lupin Labs and Mankind Pharma. Companies such as Piramal Healthcare (30.3 per cent), Alkem Laboratories (21.6 per cent), Mankind (26.5 per cent), USV (34.2 per cent), Ipca Labs (43.2 per cent) and Indoco Remedies (22.1 per cent) grew their sales substantially in January.

ORG-IMS, which tracks sales of pharmaceutical drugs in India, had earlier projected that the domestic market would grow 10.3 per cent (in value terms) until November 2008, to Rs 33,769 crore, over the 12 months of the previous year.

Analysts said better health insurance coverage, more government funds, introduction of mass healthcare projects such as the National Rural Health Mission (NRHM) and increasing rural penetration by pharmaceutical companies contributed to the growth of domestic drug sales. It is estimated that more than 65 per cent of the Indian population lacks access to proper healthcare facilities and drugs.

A YES Bank study has estimated that the demand for drugs in India will grow due to rising population, especially those over 60 years of age, and rising incomes. It said the domestic formulation industry market would touch $21.5 billion by 2015. A KPMG analysis said the domestic market’s compounded annual growth rate over the next few years would be 13.1 per cent. It would reach $11.2 billion by 2011-12, KPMG predicted.

“Future demand for domestic formulations would be driven by chronic therapeutic segments such as anti-diabetic, central nervous system, cardio-vascular systems and gastrointestinal drugs on account of changing lifestyles,”

Aircel plans Rs 1000cr spread in Andhra

2009-03-13T22:22:00.001-07:00

GSM telecom player, Aircel Limited, will be investing Rs 1,000 crore in Andhra Pradesh by the end of this calendar year, said company’s chief operating officer Gurdeep Singh.

This is part of the company’s $5-billion (over Rs 25,500 crore) pan-India expansion spanning the next three to five years, which envisages covering the National Capital Region, Uttar Pradesh (east and west) and Mumbai circles by mid April this year, and eventually connecting Gujarat, Madhya Pradesh, Rajasthan, Punjab and Haryana by mid 2010, he told mediapersons here on Thursday.

“We currently have a national subscriber base of 17 million, with about 10 million predominantly in Tamil Nadu and the rest split between the 11 circles including North East and Assam. We expect this to grow to 30 million by 2009,” Singh said, adding the company aims to achieve a double digit market share nationally in the next three years from the present 5 per cent.

Detailing the expansion plans for Andhra Pradesh, he said the company would invest Rs 500 crore in the first phase for building base stations, installing switches and intelligent network, creating a data centre and setting up offices besides enhancing its retail presence by mid May, and an equal amount by this year end.

The initial phase will have 450 stations for Hyderabad and Secunderabad. This will be scaled up to 1,000 base stations in the next 60 days when all the major cities including Vijayawada, Visakhapatnam, Warangal and Kadapa will be covered, and touch 2,000 stations by this year end. Besides, the number of self service kiosks will be increased from four to 20 during the same time frame.

“We are right now sharing passive infrastructure (towers) on rental agreements or on longer lease basis with other operators,” Singh said after launching Aircel’s GSM services in the city

Hyderabad, with a penetration rate of 78 per cent, has 2 million migrants out of a total population of 8.1 million, which is indicative of the huge potential the market holds for Aircel, Singh said.

Replying to a query, he said the company was in talks with handset manufacturers to provide application-oriented handsets, which will be rolled out from June this year.

R-ADAG to buy 51% in UK currency company

2009-03-13T22:21:00.002-07:00

Reliance ADAG is acquiring 51% stake in UK-based currency exchange and money transfer firm No 1 Currency to foray into the international forex business and to tap onto the 1.6 million NRI population in the country for money remittance business, a top company executive said. Although the deal value stands undisclosed, a person with direct knowledge of the transaction said the Indian business group will shell out Rs 100 crore to pick majority stake in the UK company.

The deal, first reported by ET in its edition dated December 16, 2008, will mark the first overseas acquisition of a foreign exchange company by an Indian firm.

Edinburgh-based No 1 Currency operates close to 300 currency exchange outlets in the UK and is one of the fastest growing independent foreign currency specialists in the country. Formed in 1996, the privately-held firm is owned by its two founding partners David Hale and Mark McElney.

As per the transaction, Reliance Money Express, a subsidiary of Reliance Capital will acquire shares from both the current owners who will continue to be minority shareholders.

Reliance Money CEO Sudip Bandyopadhyay, who is part of the team overseeing the money transfer business of the R-ADA group, confirmed the deal, “The existing management of No 1 Currency would continue to lead the firm. Reliance ADAG will get 2-3 board seats once we complete the transaction.” He declined to comment on the deal value.

Trai suggests 3 year lock-in on stake sale by new telcos

2009-03-13T22:21:00.001-07:00

While recommending a blanket ban on promoters of new telecom licensees from selling their stake for a period of three years after getting the licence, the Telecom Regulatory Authority of India has added a caveat. In case a promoter does wish to sell his stake in the first three years of getting the licence, then 50% of the transacted amount must be paid to the government while the remaining 50% must be invested back into the telecom company.

While recommending the same Trai has acknowledged that the new licences given by the department of telecommunications did not capture the current market price for licences and spectrum. Further, the lock-in period would apply on circle basis and not on a pan-India basis. This means an existing telecom operator, if granted a licence for a new circle would be covered by the regulation. Further, Trai has also recommended that henceforth companies would have to report the promoter shareholding also to the it and DoT on a regular basis.

It is to be seen whether the government now acts upon the Trai recommendation or taking refuge of the model code of conduct for elections lets a new government take a decision on the matter.

FE had first reported on September 28, 2008, that the government was planning to levy a charge on the income earned from such stake sale by licensees in the first three years of getting the licence.

The department of telecommunications (DoT) had finally suggested that in order to raise money the promoter may issue fresh equity shares and the entire amount earned in doing so should be ploughed back into the telecom venture only.

The government had allotted licences to new operators in a controversial manner in 2007, where applicants were allotted licences on first come first serve basis until September. This was done for the first time and was contrary to the practice so far. It was debated that the pan-India licence fee of Rs 1,651 crore was a paltry amount for a lucrative telecom licence and the bundled 4.4 Mhz spectrum which came along with it, since the actual price was much higher and the government was being robbed of thousands of crore.

Later the promoters of new licensees such as Swan Telecom and Unitech Wireless diluted their stake in these companies by issuing fresh equity shares and received astronomical valuations of around $2 billion or around Rs 10,000 crore without starting any operations or investing money on network only on the basis of the licence and the bundled spectrum.

The regulatory body has recommended that there should be a lock-in of the equity share capital of promoter, whose net-worth has been taken into consideration for determining the eligibility for grant of UAS license, for a period of three years from the effective date of licence. However, with prior written approval of the DoT and on fulfillment of roll out obligations, the promoters may be permitted to sell their equity share even during the lock-in period.

GE adds green 'Odyssey' to its India centre

2009-03-13T22:20:00.000-07:00

Company’s investment in India R&D totals $175 mn.

At a time when most of the global companies are going slow on their expansion plans in India, GE, the American technology and services conglomerate, has expanded its research and development capabilities in India. The company has opened a new facility at the John F Welch Technology Centre (JFWTC) in Bangalore, GE’s largest integrated multidisciplinary R&D centre outside of the US.

Spread over 3,85,000 sq. ft., the new building Odyssey which has bagged Leadership in Energy and Environmental Design (LEED) gold certification, will house 2000 scientists and engineers. Officially opened on March 6, the green building fits in with GE’s ecomagination initiative, which represents the company’s commitment to solve the world’s toughest environmental challenges, the company said in a statement.

Dr Mark Little, senior vice president, GE Global Research said, “GE greatly values the well developed intellectual capital that India has to offer. The Odyssey building illustrates the increasing role our center in Bangalore has in GE’s global innovation strategy and for local technology development here in India.”

Since its inception in 2000, the JFWTC has grown from 200 scientists and engineers to close to 4,200 people now. GE has its other research centers located in New York, Shanghai (China) and Munich (Germany). With the opening of the new building, GE’s investment in the JFWTC has now totalled $175 million.

As part of GE’s ecomagination commitment, the company has set targets to reduce both its greenhouse gas emissions and water usage, and improve the energy efficiency of its own operations. GE has committed to reducing its absolute greenhouse gas emissions by one percent by 2012.

The company also has set a target of achieving a 20 per cent reduction in water use by 2012. When compared to a standard building, the Odyssey building will offer a 30 to 40 per cent reduction in operating costs, according to the company.

GE is doubling its investment in clean technologies from $700 million in 2005 to over $1.5 billion by 2010 as part of the company’s ecomagination initiative. The company said that the scientists working with JFWTC are playing a significant role in this campaign, supporting global research endeavours in wind and solar power, gas turbine technologies, locomotives and aircraft engines.

India can cut interest rates further, says ADB study

2009-03-10T12:26:00.000-07:00

India has room to cut interest rates further, and it should quickly disburse funds related to the fiscal stimulus packages announced recently to cushion economic growth from the impact of the global economic turmoil, Asian Development Bank (ADB) said in a new study published today.

“There is further room for interest rate reductions, particularly in India and Sri Lanka. While most countries have little scope for large stimulus packages, given deficit constraints, India, which has introduced two of them, should disburse the funds swiftly for maximum impact,” the study said.

Titled ‘The Impact of the Global Economic Slowdown on South Asia’, the study also noted that the sub-region had been hit by capital outflows and weaker commodity prices, and faced a sharp slowdown in exports and remittances as global troubles worsened.

“Governments could consider incentives to encourage overseas workers to remit money home, such as special savings instruments, and they should also discuss currency swap arrangements and other measures to keep their financial systems stable,” it added.

A number of short-term measures have been taken to cushion the impact of the crisis, including monetary easing and fiscal stimulus packages. India had announced a Rs 20,000-crore additional planned expenditure in the current fiscal, refund of certain service taxes, interest subsidy to labour-intensive sectors and extended finance support to various sectors, including infrastructure.

Additionally, the Reserve Bank of India had cut repo rate, the rate at which the central bank lends to banks, for the fifth time since October 20, and the overall cut effected since the global credit crisis intensified added up to 400 basis points. Since September, the central bank had also lowered cash reserve ratio requirements, or the proportion of deposits that banks set aside, by another 400 basis points to inject Rs 1,60,000 crore into the system.

“South Asian countries can weather the global financial crisis by taking both short- and long-term measures to stimulate their economies,” the study said.

“In the long term, South Asian countries need to reduce their fiscal deficits, diversify their economies, step up infrastructure investment and boost intra-regional trade to take up the slack of lower demand from G7 nations,” it added.

“While some countries in South Asia have had relatively less exposure to the crisis from the adverse impacts of capital flows, more than half of the 900 million people in developing Asia who survive on US$1.25 a day live in the sub-region, so any tempering of growth is a serious cause for concern,” said ADB President Haruhiko Kuroda.

The study is being presented as a discussion paper at the South Asia Forum on Impact of the Global Economic and Financial Crisis, a two-day forum being held at ADB headquarters at Manila on March 9 and 10.

The global financial crisis slashed the value of financial assets worldwide by $50 trillion in 2008, said an ADB study on the global financial turmoil. Financial asset losses in developing Asia, which suffered more than other emerging markets, totalled $9.6 trillion, or just over one year’s worth of developing Asia’s gross domestic product, the ADB report said.

Indian banks planning expansion while others consolidating biz

2009-03-09T22:29:00.000-07:00

The government’s argument that Indian banks are healthier than those in the western world has got fresh backing from an international study, which shows that the banking and financial services players in emerging economies are looking to expand at a time when their counterparts in the United States and Europe and Middle East are consolidating their businesses.

According to the survey of 275 executives of global banks and other financial institutions conducted by The Economist Intelligence Unit (EIU) between October and November 2008, 65% respondents said in the short-term they would focus on domestic market and fewer product lines.

However, 48% in the Asia-Pacific said they plan to enter or expand their footprint in foreign markets.

Banks in North America and the Middle East are particularly conservative, while emerging-market institutions express they plan to expand business, the report on the survey titled ‘Beyond the home market: The future of crossborder banking’ stated.

“Old-school virtues are back for now and the focus will be on core banking and home regions, but emerging Asia will continue to offer growth opportunities,” Economist Intelligence Unit senior editor Manoj Vohra said.

The survey pointed out that Asia is seen the best opportunity to grow business as it has a vast population, which is outside the banking net. Forty-nine percent respondents cited this as a key reason for expanding in the region. However, nearly two-third of the total executives said that political and regulatory hindrances limit their expansion plans.

Among the other findings, the survey pointed out that majority of the respondents is putting a higher premium on risk management to limit the impact of financial crisis.

This area was quoted as the major concern by 57% executives. “Security and fraud detection are also viewed as important issues,” the report stated.

On the use of information technology, it said that building IT platforms is difficult for banks with operations in foreign markets. “Indeed, just 10% of banks say they have experienced no problems when implementing an IT strategy in foreign markets. The most common problem surrounds the interoperability and integration of platforms and applications-mentioned by 42% of respondents,” the survey found.

The survey, which chose was 20% respondents from North America, 16% from Western Europe, 24% from Asia-Pacific, 24% from the Middle East, and the rest from other regions. Thirty-three percent of them were chief executive officers, chief financial officers and chief investment officers, while the rest consisted of senior vice-presidents, heads of business units and other senior managers.

Of the total 275 survey respondents, 35% work with banks and financial institutions with assets over $50 billion, 39% with assets between $1 billion-50 billion, and the balance under $1 billion.

India Inc optimist, expects growth despite slowdown

2009-03-09T22:28:00.000-07:00

India Inc representatives seem to be optimistic about the prospects of the economy and corporate growth even in the troubled times. ICICI Bank managing director and CEO KV Kamath mentioned India Inc is expected to deliver better results in the current quarter with compared to its average performance in the third quarter of the current financial year.

Kamath reiterated India’s GDP is expected to grow over 7% in the coming days.

Kotak Mahindra Bank managing director and vice-chairman Uday Kotak and Reliance Industries chairman and managing director Mukesh Ambani also participated in a panel discussion at the Emerging Economic Giant: Business Law Conference in Mumbai on Friday. Ambani too indicated India will certainly clog double digit growth at least over next three to four decades. “However, we might take another couple of years to recover from the global downturn effect,” he added.

Ambani explained that India has a sizeable amount of young population and therefore growing younger in a scenario where rest of the world’s population is getting older. The consumption of goods & services by the younger generation is expected to rise phenomenally in future. “It’s a fact that India is going to get richer before it gets older whereas China is expected to grow older before it becomes richer. Thus among developing economies, India enjoys a competitive advantage in many aspects. Also, we have a vibrant democracy which has embraced technology in an excellent way,” he said.

India must work towards establishing a peaceful atmosphere in the neighboring countries. Kotak said India is expected to come out of the current economic crisis earlier compared to other developed as well as developing economies of the world. “India has sound and sustainable domestic banking and financial system, the country has huge market for domestic consumption and we are a significant producer of goods & services to suffice the domestic needs,” he said.

These three criteria are more than adequate to ensure that whenever there is an upturn in the global economy, we will be the first to enjoy its benefits. “However, I do not know how long the current crises will last. It’s beyond my assessment,” he said.

IndBank Merchant to add 14 branches

2009-03-09T22:27:00.001-07:00

IndBank Merchant Banking Services Ltd, a subsidiary of Indian Bank, plans to take the number of branches to 30 in the next one year, according to Mr A. Subramanian, Chairman of IndBank Merchant Banking Services Ltd and Executive Director of Indian Bank.

Addressing presspersons on the sidelines of the inauguration of the 16th branch of IndBank Merchant Banking Services Ltd here on Monday, he said that it plans to open 14 more branches in places such as Ernakulam and Visakhapatnam in the next one year as part of its expansion plans. To a query on the reason to open an office during the slowdown, he said the recession is the best time to expand.

In addition, IndBank Merchant Banking Services Ltd will set up exclusive stock broking terminals at select centres.

SBI ties up with Diebold for ATM expansion

2009-03-09T22:27:00.000-07:00

State Bank of India has tied up with Diebold for the largest ATM expansion in the country, a press release from Diebold India said. After the expansion, SBI’s total ATM network will touch 12,000.

As part of the contract, Diebold will provide SBI with its model D450 ATM.

The contract includes ATM site preparation and managed services. Currently, Diebold provides managed services solutions for more than 3,500 of SBI’s ATMs across India. It also offers remote monitoring of the ATM network, the release said.

Hindustan Construction Co to complete Lavasa ahead of schedule

2009-03-07T22:29:00.000-08:00

Hindustan Construction Company (HCC) is expecting a total revenue of Rs 1,47,000 crore over the next 10-15 years from it’s Lavasa hill-station project being developed near Pune.

The project will be completed ahead of its schedule, said Ajit Gulabchand, CMD, HCC and chairman, Lavasa Corporation.

“We have sold out all 1,400 apartments and villas in the first phase of the township and have begun work for phase II. The project is expected to be completed by 2015 instead of 2020 as scheduled earlier,” said Gulabchand.

“There have been no cancellations despite current market conditions. The company is working on several new tie-ups in the area of architecture, animation, design, filmmaking, hospitality, education and industry,” he said.

A total of six hotels will be coming up at the project site, with a combined capacity of 1,000 rooms.

Accor will be opening a Pullman and Novotel hotel in the project. Thus far, around Rs 1,500 crore has been invested in the project and it has been funded by a debt equity ratio of 2:1, he said.

Peak investments required for this phase would range Rs 2,000-5,000 crore, he noted.

The Lavasa hill-station project is being developed by HCC along with the Avantha group and Venkateshwara Hatcheries. HCC holds 65% stake in Lavasa Corp, while Avantha Group has 16% and Venkateshwara Hatcheries 12%; 5% is held by local entities.

Axis Bank, Allahabad Bank and Bank Of India together hold around 4.5% in the project and have invested aorund Rs 450 crore in it. Gulabchand said the company will not dilute its equity further at this stage. “Lavasa owns stakes in properties in the project from 11% to 100% in some cases. In the Accor project, Lavasa holds 26% stake; it holds 20% in the NASA space project coming up here,” he said.

On the upcoming Gujarat project, Gulabchand said the company will conduct studies over next couple of years to decide the kind of model that needs to be created. The total investment in this project is around Rs 40,000 crore.

Govt approves 29 FDI proposals of 616 crore

2009-03-06T22:35:00.000-08:00

The government on Wednesday approved 29 foreign direct investment (FDI) proposals worth Rs 616 crore including AAPC Singapore's Rs 365 crore hotel project.

AAPC plans to set up a wholly-owned subsidiary in India for its hospital-ity venture, a finance ministry statement said.

The government has also allowed ABG Bulk Handling's plan to convert its operating company into an operating- cum-holding company. It pro-poses to make downstream investments of Rs 90 crore.

Other proposals cleared by the government include Rs 50 crore invest-ment proposal of Cinema Capital Ventures Fund, US-based Telcordia Technologies’ plan to induct foreign equity up to 74% in the mobile number portability solutions business and Telcordia plan to invest Rs 45 crore in its Indian operation.

Poltrona Frau's proposal to set up a single brand retail joint venture (JV) with Tata group company Eward also got the government’s nod, the statement said. The foreign company would invest Rs 21 crore in the proposed JV.

FDI proposals are cleared by the government on the basis of Foreign In-vestment Promotion Board’s (FIPB) suggestions. The board, constituted by the top officials of economic ministries, screens such FDI proposals where prior government approval is required.

The FIPB, however, deferred Gurgaon-based real estate company Unitech’s proposal to make downstream investments in real estate sec-tor.

It also deferred 18 other applications including FDI proposals of John Deere Construction, BNP Paribas Securities Services, Yamaha Motor In-dia, Quippo Telecom Infrastructure and Hiranandani Realtors.

Economy to grow 6.7% this fiscal: Dun & Bradstreet

2009-03-06T22:30:00.000-08:00

Indian economy will grow 6.7% in fiscal year 2009-10, pushed by a healthy increase in consumption even as private investment will moderate, information services provider Dun & Bradstreet (D&B) has projected.

In its Economy Outlook 2009-10, D&B said the economy will pick up in the medium to long-term when the policy responses of the government and Reserve Bank of India will come into play and the external situation will stabilise.

“D&B believes that the strong fundamentals of the Indian economy are a key to early reversal. D&B expects GDP growth to bottom out during H1 FY’10, see a reversal by H2 FY’10 and average at 6.7% for FY’10,” it said in the report, released on Thursday.

The research firm expects the economy to grow at 6.8% in 2008-09, lower than the projection of 7.1% by Central Statistical Organisation and Prime Minister Economic Advisory Council. Giving reasons for the lower forecast, it said investment demand has come down in line with consumption as banks have turned risk-averse and cautious in lending.

The investment growth is likely to slow down to 35.5% this fiscal from 39.1% a year ago, D&B said, adding that in 2009-10 the growth in investment will level at 35% as the problems in lending will continue.

D&B said the aggregate consumption demand as measured by Private Final Consumption Expenditure (PFCE) will stabilise at 6.5% during FY’09 compared to 8.1% in the last fiscal. However, there will be a slight improvement in consumption to 6.7% in FY’10 as fiscal measures and lower interest rates begin to boost confidence and stimulate demand in the latter half of the year.

In its fight against inflation, RBI had adopted a tight monetary stance in 2008, slowing down the economic growth that averaged 7.4% against 9.3% in the previous year. The condition worsened in September when banks found borrowing difficult and hence reduced lending. To reverse the situation, the government and the central bank eased the credit condition through several measures taken since September 2008.

RBI has reduced mandatory cash reserve ratio to 5% from 9%, repo rate—at which it lends to banks—to 5% from 9% and reverse repo rate—at which it borrows from banks to 3.5% from 6%. In total, it injected liquidity of Rs 3,88,000 crore into the system. The government also raised expenditure on infrastructure and created a favourable lending environment for individuals, small industries and exporters.

Despite the measures, growth in bank lending is expected to moderate to 21.5% this financial year and 20% the next as banks will continue to be risk-averse and demand for loans from industry will be low due to production cuts and deferred investment plans, the report stated. However, benchmark prime lending rates will come down to 10.5-11% in FY’10, it added.

The industrial production growth, which has turned negative at -0.2 in October-December 2008, will pick up only in second half of 2009-10 and register an average increase of 5.3% during the year compared to expected rise of 3.5% this fiscal as demand will grow both domestically and internationally, D&B said.

The Best Way to Pick Up a Girl

2008-06-06T23:50:00.000-07:00

You see her across the room. Ah, so attractive. But nobody to introduce her to you. "Ah, I'll do a James Bond on her," you think. Now what was Bond's first words to Pussy Galore? "I must be dreaming." No, that won't work. How about singing "Underneath the Mango Tree" to her as Bond did to Honey Rider in "Dr. No". Ah? No!

Well, what's left? You'll just have to go up and talk to her, if it's a situation where you won't see her again. But it's always safe to assume that she has a boyfriend that can squeeze the stuffings out of a gold ball. That aside, take a chance and make polite conversation. What's the worst that can happen. She says, "I'm sorry, I'm not available." and you save the time and money of a date with her. Like George Burns says, "When a beautiful woman says "no" to me, it's a relief.

If you know that you will see her again, like at your university, your job, or working at a restaurant, you can have another shot at her and use the shy man's approach to getting a date.

"You farm boys don't make a pitch, you just shy your way into position," Ann Margaret says to Pat Boone in "State Fair".

Okay, here it is. Instead of asking her to dinner or out on a date which has romance intended, get some tickets to a concert or event first, and then with tickets in hand say, "I just happened to have tickets to this event. If you'd like to go with me, I'd be happy to take you." This way the subject is the event. Talk about the person singing at the concert, instead of if the two of you could hit it off or not. She can easily say yes or no, or ask more questions about you or the time and place of the event. She doesn't have the pressure of turning you down, so she can just turn the event down and that will be that. And if by chance she can't make that date, but is interested in you, she can start talking about going out another time.

I've strongly suggested this "ticket" technique to both men and women who are infatuated with someone at work, or at shop, or restaurant, and have no idea how to make an approach. If the person is available, they usually say yes to an invitation. After all, it's just going to an event. It's not really a date.

I used this "ticket" technique in college to ask out a beautiful stranger. I was very shy, but was "in love" from a distance so I had to take some kind of scary attraction. Her name was Cindy and I often saw her in the student lounge surrounded by guys. It took weeks of watching her before I could catch her walking alone, and ask her if she'd like to go see the reserved seat Cinerama showing of "Grand Prix". She said, "Well, I don't know you, but if you come and talk to me sometimes and I get to know you, then maybe."

So in the next days I made an attempts at getting in a few words with her as she talked with her friends. Then I found out she was taking the film appreciation class that I had taken a semester earlier. So I pushed the teacher to show my new 16mm action film in the class that she was in. He fiqured I had a secret motive because he said he'd show it in the morning class, but I said it had to be shown in the afternoon class (the one Cindy was in). Finally, he agreed.

I not only directed the film, but had a part in it where I used my newly learned karate and hoped she would be impressed. The film went over great with the class cheering and applauding. As she was leaving the class I said to her, "Well, do you know me well enough now?" She said, "To go out with you? I replied, "Yes." She smiled and nodded her head yes.

So don't "ask her out". Don't "take her to dinner". Get some tickets, and maybe she'll answer you like Cameron Diaz does in "Charlie's Angels". "Tickets? I love tickets!"

Sensations Of A Kiss

2008-06-06T23:46:00.000-07:00

Despite the relative tastelessness of kisses, they are usually referred to as sweet. Tasting of wine, strawberries and honey are some of the most common descriptions of lover’s kisses, although some poets are more creative. For example, The Song of Songs says, "Thy lips drip as the honeycomb, my spouse:

Honey and milk are under thy tongue."

The feeling of a kiss is also described in a multitude of ways, The pounding of the heart, quivering of the limbs, pain in the chest and quickening of the breath are some examples of this. The Persian poet Ha-fez, writes that he fears he will “char her delicate lips” when he writes of kissing his beloved.

The Spirit Within a Kiss

"At what else does that touching of lips aim but at a junction of souls?"

Favorinus of Arles

The Babylonian goddess of love, Ishtar, was said to hold life in her mouth, offering spiritual delight to those who worshipped her. “That rarest gift, the honeyed kiss of love/ On earth, is sweeter bliss than gods enjoy,” she tells one of her followers.

Another example of the use of kisses as an exchange of life force or spirit is in the Egyptian legend of Osiris and Isis. When Osiris’ jealous brother, Set, threw him into the Nile, his wife Isis searched for his body in the river and breathed life into him through a kiss.

The Renaissance saw a rapid rise in the view of kissing as an exchange of souls, and as an offering of the self to the other person. Allusions to kissing in poetry included an eternal kiss, a swoon that carried the couple almost to death, and most importantly, the diffusion of one soul into the body of the other.

Perhaps one of the most potent notions of kissing revolves around the belief in its life force and vitality. The Romans particularly believed that kissing a dying lover would keep the spirit in the body longer. Ovid, particularly, mourns that his wife will not be able to extend his life with her love because of his exile. Kisses could even follow the dead into the Underworld as a comfort to the shades of the dead.

Homosexual Dating - Truth and Connection

2008-06-06T23:45:00.000-07:00

Homosexual dating has become much more widespread and accepted in Western culture, allowing both gays and lesbians the chance to reach out to one another beyond that of closed doors. Now there are many ways you can have a rewarding homosexual dating experience, so don’t be afraid to get out there and explore all of the potential relationships you can create at a wonderful same-sex communities.

Homosexuality is a form of love that needs not to be judged or explained, because it is just another example of how when you love someone it doesn’t matter what colour their skin is, how old they are, or even what sex they are. True love knows no boundaries, has no discriminations and only wishes to be shared with another who returns the same emotions.

Unfortunately, not everyone agrees with this idea of love, and due to this fact, many homosexuals, regardless if they are male or female, are made to feel alienated, which can often lead to feelings of depression or loneliness. There is no reason why you should let these feelings overcome you, or let other opinions of those you care about, such as family members or friends, negatively influence your life when it comes to finding love, relationships, and homosexual dating.

Homosexual dating is about finding someone who feels the same way you do, enjoys spending time with you, treats you with respect and makes you feel like an equal. It is about being apart of a relationship with mutual understanding, which has the potential to forge a strong connection between both you and your partner.

Like any dating experience, there will be certain setbacks and struggles that you may face during homosexual dating. This is only natural, simply because in order for you to connect with someone, it is important that you feel comfortable with them.

As a gay or lesbian, you should not feel that you need to grab any opportunity that comes your way. There is no harm in starting as friends and working slowly into the relationship to discover how much you have in common. As long as you are honest with your feelings, you should have no problem finding a partner.

Homosexual dating is how you can establish an amazing connection with someone who understands you, and loves you for who you are with no questions asked. Even though you will meet some people who are destined to give you a hard time with your sexual preference, all you can do is trust your own judgments, be true to yourself, and give your love and time to those who deserve it.

10 Reasons to Use Online Dating Sites

2008-06-06T23:43:00.000-07:00

There are many more reasons than just ten that I would like to mention, but in this article I have focussed on the primary ten reasons why I believe on-line dating is here to stay. It is now understood that the industry has even further to grow as more and more service suppliers in this segment realize the many niches yet to be serviced and explored. If you are concerned about your time, privacy or safety, while using On-line Dating, then this is a 'must read'.

1.Most people are pretty busy these days. You can imagine how many times you would have to go out and socialize before finding the right partner. Then consider how much you end up spending week after week. You may meet the right person the first time you go out, but you and I know that this is highly unlikely. This procedure more often than not ends up in a lot of wasted time and a lot of wasted money too. However, dating sites(in general) cost nothing to register and or search.

2.Dating sites (the good ones) are in the main, free to join. Only costing you money when you have linked up with someone and intend on meeting with them or communicating further. This is a great feature because it means you will be aware of the basic geography, the hobbies, nuances, hobbies, and other interests before you meet. This is so much less time consuming than dating different people over and over before you find that 'right' person or even just the essential pieces of information.

3.From time to time you can also place advertisements on these sites which stimulates response and gives you a wider field to choose from.

4.You can remain anonymous (recommended) and protect your identity until you're ready and comfortable enough to disclose who you reallly are. If you decide the other person is not for you, you can easily and tactfully end communication without any animosity or even further contact.

5.Some people moving to a new location like to establish relationships and friend before they arrive at their new abode, allowing settling in to be that much easier. This is very often relevant to single parents. There are sites out there that are specific to single parents dating which make the job of meeting that much easier.

6.You may be having difficulty meeting people of the same faith or religion. In this case, there are niche dating sites that service this need in almost every major religion or faith.

7.Equally important is the need to service alternative dating requirements for those who seek pursuits outside the mainstream world of dating. There are many sites to choose from in this category to a point where choosing a good alternative dating service can become confusing and almost frustrating. Look for a Dating Site Review Service to assist you with this. Most of these service sites will have carried out some reviews in addition to weeding out the good from the not so good. If you don't find a particular site on a dating site review service it usually means the owners were uncomfortable with the site and will not include it in their pages or they haven't got around to reviewing it as yet - If the latter is the case, send them an email asking them to review that particular site. Most will follow through and you will find a review in as little as a few days in some cases. If it does not turn up on their pages, there could be something wrong with it.

8.Adult dating also falls into the above category due to its large following. Fortunately, the same solution applies. Just find a dating site review service that has done the 'hard yards' on your behalf and click away. The good review sites are free and will guide you to the better service suppliers.

9.On the subject of Dating Site Review Services, some of them supply newsletters which keep you informed and up to date on new services, promotions (ie.Romance Tours, Dating Events and Speed Dating etc.) and of course other exciting freebies. It is always worth subscribing because you can always unsubscribe if you want to. Just make sure they mention that in their 'sign up box'. Some independent sites have their own newsletters but common sense tells you that you are more likely to receive a more diverse range of information and promotions from the Dating Site Review Service than from just one independent dating site. This occurs because they will screen a whole swag of offers from a host of sites rather than just one before they onsend them to you.

10.Another cool free service from responsible dating sites and review services are the articles which frequently guide you in the right direction with dating trends and tips for successful dating and romance.

I hope this article has opened you eyes to just a few of the many benefits and features that can be obtained when using dating sites to help you.

India drives up StanChart profit

2008-02-28T02:46:00.001-08:00

Standard Chartered Bank’s (StanChart) Indian branches have posted a 71 per cent increase in operating profit to $690 million in 2007 from $403 million in 2006.

India, is now the second largest contributor to the bank’s global operating profit with a 17 per cent share after Hong Kong’s 34 per cent. India not only is the bank’s biggest business, but is the only market that saw accelerated growth in 2007.

“The rise in profits is largely driven by growth in the wholesale and consumer banking businesses. The wholesale and consumer banking businesses contribute around 65 per cent and 35 per cent respectively to the bank’s revenues. The bank’s middle market business has seen a 131 per cent increase in revenue. The small and medium enterprises, with a client base of around 10,000, wealth management and personal loan business have also seen healthy growth,’’ said Neeraj Swaroop, regional chief operating officer, India and South Asia, Standard Chartered Bank.

StanChart India’s wholesale banking business contributed the biggest change in global profits. Wholesale banking in India saw a 91 per cent rise in profits to $626 million on an 82 per cent increase in income. The bank has added more than 1,000 clients over the last three years and has more than 100 clients generating income of more than $1 million.

The consumer banking business in India crossed $1 billion income for the first time in 2007, growing 60 per cent to $1.3 billion. Operating profit in the consumer banking business was down to $63 million in 2007 against $76 million in the previous year.

Loan impairment in this business was up to $77 million against $46 million. Loan impairment for the bank has risen to $90 million in 2007 as against $39 million due to a wider deterioration in the unsecured consumer lending environment and increased portfolio impairment provision in unsecured lending and credit cards as the portfolio size increased.

The bank’s mortgage business increased to $1,638 million in 2007 from $1,492 million in 2006 and the small and medium enterprises business increased to $920 million as against $567 million.

Expenses increased to $528 million as against $375 million. Investment in people, premises and private banking increased expenses. Other significant costs included investments in branches, service centre centralisation, ATMs and technology. The bank has applied for 40 new branches and 300 ATMs.

Shop till you drop and then check in

2008-02-28T02:44:00.000-08:00

Until now, you have shopped in five-star hotels' premium retail outlets. Now what about doing some shopping in a mall and enjoy the hospitality of a good hotel in the same complex? A successful business in countries such as Dubai, Singapore and Thailand, the mall-hotel concept is all set to script its India story.

The model goes like this-retail outlets on the first two floors, upper floors are eatery- the hotel comes up on the top floors. The aim is optimum utilisation of available space in complex, given the escalating real estate prices and lack of good locations at affordable prices. Moreover, with Commonwealth Games in 2010, when there will be a surge in hotel demand, the concept makes sense.

Developers in not only Tier-I cities, but also in Tier-II and Tier-III cities are going all ga-ga over malls-hotels. Parsvanth Developers Ltd has plans to set up mall-hotels in Hyderabad, Ahmedabad, Mohali, Lucknow and Seelampur. It has already begun construction work in Mohali, Hyderabad and Ahemdabad.

While Ambience Group eyes Delhi and NCR and Vizag, Ansal API will complete its project in Greater Noida this year and Lucknow in 2-3 years. The target customers are domestic, international and business travellers.

Mostly, it is the one developer that develops both the mall and the hotel, but the operations and management rights lie with the hospitality partner. Emaar MGF has tied-up with partners Formule I, Premier Inn and Marriott. While DLF has joined hands with Hilton International Company, Ambience Group has tied up with Leela Group.

"It is a worldwide phenomenon, however, it is a relatively new concept in India. Until now, almost all the hotels have a floor or area dedicated to retail, which has been limited to a few luxury boutiques. But this concept allows an optimum usage of FSI complementing the components (commercial plus hotel), which may be unviable for a stand-alone project," said a source in DLF.

These hotels within malls are a mix of five-stars, four-stars, three-stars and budget hotels. Privacy is the biggest factor while planning the structure of the hotel and the mall. According to BP Dhaka, spokesperson & COO (MP), Parsvanth Developers Ltd, "While the mall and hotel will be interconnected, the entry exit and safety privacy of hotels occupants will be of utmost importance to us."

India, China to drive auto growth in 2008

2008-02-28T02:43:00.002-08:00

Daimler predicted on Thursday that India, China and Russia would provide the main impulse for growth in the automotive sector in 2008, in the face of flat demand in Europe and a depressed North American market as a result of falling house prices.

Posting net profits of 3.985 billion euros ($5.8 billion) for 2007, up from 3.783 billion euros ($5.52 billion) in 2006, Daimler said it expected a moderate increase in revenue from the 99.4 billion ($145 billion) euros recorded in 2007.

"From today's perspective, all operations should contribute to this growth. The regional focus of expansion is likely to be mainly in the growth markets of Asia and Eastern Europe," it said.

The company announced an increase in its dividend to 2 euros from 1.50 euros currently.

Operating profit, measured as earnings before interest and tax (EBIT), rose sharply to 8.7 billion euros ($12.7 billion) from 5 billion euros ($7.3 billion). A charge of 2.2 billion was booked to selling off the Chrysler division during the year.

Daimler said it anticipated margins in its core Mercedes-Benz Cars division to rise to 10 per cent by 2010, from 9 per cent currently. The division accounted for 4.75 billion euros in EBIT in 2007.

Margins in the Daimler Trucks division were expected to rise to 8 per cent by 2010, from 7 per cent currently. The division accounted for 2.12 billion euros in EBIT last year.

The company's share price rose on the news to hit a high of 55.85 euros, before falling back to 54.28, one per cent up on the opening.

Like other German auto manufacturers, Daimler has suffered from the rise of the euro against other major currencies, which makes its vehicles more expensive in foreign markets, and from a general economic slowdown worldwide.

Daimler's bus division could likely see sales stagnate however, the company acknowledged.

Auto part firms thrive on sourcing deals

2008-02-28T02:43:00.001-08:00

The multi-billion dollar auto component sourcing industry in India has brought relief to many domestic component suppliers in the form of improved margins and long-term supply contracts.

Global auto majors such as Daimler, General Motors, Ford, Volkswagen, Renault, Nissan and Honda have been buying higher quantities of components from India, which has resulted in the margins of component firms improving 8-10 per cent.

As of the last financial year, auto component sourcing has touched $3 billion in India and is expected to double by next financial year-end. Many such auto majors have set up an India purchase office, which buys inexpensive Indian components to cater to their huge overseas plants.

Such sourcing has provided Indian players with the opportunity to charge a premium that varies between 5 and 10 per cent. Many foreign car makers prefer to make engineering changes to the components before incorporating them in their engines and other parts.

Some of the more common components sourced include axle bar, propeller shaft, crank shaft, cylinder heads, bearings and cylinder blocks. Foreign firms get a 25-30 per cent cost advantage through such deals.

M Radhakrishnan, joint managing director, Autoline Industries, said, “We are supplying original equipment makers (OEM) such as GM, Ford, Nissan and Honda. Not only have the margins improved due to premium pricing, but volumes have grown significantly, too. These players get a benefit of 20 per cent cost reduction for our products.”

According to projections made by the Auto Components Manufacturers Association, global sourcing from India will increase to $20 billion by 2014.

Daimler India sourced components worth $2.2 billion from India last year and this year the figure is expected to swell by 20 per cent or $440 million.

Many component manufacturers say that though there are servicing (fabrication) costs involved, which tend to raise the overall cost, it is compensated through premium settlements by OEMs.

Praveen Gupta, chief executive, auto and engineering business, Yash Birla Group, said, “Direct supplies to tier I players do involve high margins, stable demand and volume. We are looking to expand our reach beyond our tier II customers such as Cummins.”

Experts believe that strong negotiations on component prices by Tata Motors for the Nano, which lead to a squeeze on margins for suppliers, will be tackled through sourcing deals.

Indian PC shipments grow 20 per cent

2008-02-28T01:45:00.001-08:00

The desktop and notebook market grew 20 per cent year-on-year, with 6.5 million units shipped into the country in 2007, as compared with 5.4 million units in 2006, according IDC’s latest India quarterly PC tracker.

Notebook shipments accounted for more than 27 per cent of the total PC shipments for the first time in a calendar year.

Notebook PC shipments touched 1.8 million units, as against 0.98 million units in 2006, which show acceptance of laptops as the preferred choice for first-time PC buyers, according to Kapil Dev Singh, country manager, IDC India.

Piyush Pushkal, manager, PC research, IDC India, said: “With consumer desktop shipments reporting flat growth, the higher overall growth of the consumer client PC segment signals maturing of the market. The consumer PC category is shifting from desktop-centric to being notebook-centric.”

While the notebook PC market grew 81 per cent in 2007 year-on-year, the desktop PC market grew by 7 per cent as it shipped 4.7 million units in 2007 as against 4.4 million units in 2006.

The study said there was a need to encourage development and widespread adoption of communication and convergence to spur future growth.

“These low-end notebook PC-type gadgets are not likely to increase PC penetration in India significantly. To increase PC penetration, the ecosystem needs to offer an affordable internet infrastructure, local applications, Indian language content, e-commerce and education. The PC-type gadgets are likely to function only as secondary computing devices in existing PC-owning households,”

Carmakers on expansion drive in smaller cities

2008-02-28T01:44:00.003-08:00

Improved road connectivity and high penetration of retail finance has triggered car makers to go on an expansion drive of increased dealerships in smaller cities. The car financing industry reckons the number of dealerships to be opened in tier 2 and 3 cities to be around 300 in the next one year.

Honda Siel Cars India in the next one year would open its outlets in 39 newer cities where it has not had a presence. “We see a huge potential in these markets. We are adding 40 new cities to our map by 2009 from the present 51,” said Mr Jnaneshwar Sen, Senior General Manager, Honda Siel Cars India. Comparing fiscal 2007-08 to 2006-07, he said that the company has expanded its share from 15-22 per cent in Ludhiana, 26-33 per cent in Karnal, 44-57 per cent in Ghaziabad for its model Honda City. In the case of Civic, the market share in Agra increased from 62 to 81 per cent; in Indore from 23 to 38 per cent.

Led mainly by its small car Spark, in case of General Motors too, the maximum growth occurred in the smaller towns and cities where it witnessed an over 100 per cent growth in 2007.

“In the last calendar year we grew by 74 per cent, of which the C and D category of cities contributed 120 per cent. Our sales outlets, which increased from 89 by the end of 2006 to 107 dealers in 2007, were largely in these cities,” said Mr Ankush Arora, General Manager, Marketing, General Motors. By the end of 2008, the company plans to expand its dealership network to 190.

The Maruti Suzuki General Manager - Marketing, Mr Mayank Pareek, said the company stepped into smaller villages and cities through a focused marketing campaign targeted at panchayats, and teachers with a good disposable income. He attributed the growth to increased road connectivity thanks to the development of the Golden Quadrilateral and the availability of finance.

“On an increasing portfolio, the contribution of the C and D category of cities has increased from 10 per cent to 35 per cent in the last two-three years. We expect the ratio between the metros and non-metros to be 60-40 respectively in the coming years,” said Mr Rajan Pental, Senior Vice-President, Auto Loans, HDFC Bank.

General Insurance sector logs growth of 12 per cent in January

2008-02-28T01:44:00.001-08:00

The General Insurance industry grew by about 12 per cent during January with robust performance by private players like Reliance General and Cholamandalam. The 16 non-life insurers collected Rs 2,520 crore premium in January 2008, against Rs 2,253 crore in the same month last year, according to industry data. During the month, nine private sector general insurance companies garnered Rs 990 crore against Rs 811 crore in the same month a year-ago.

Reliance General increased its premium by 47.5 per cent to Rs 149 crore, Cholamandalam MS General Insurance premium grew by 65 per cent to Rs 48 crore in January. The largest player in the segment, ICICI Lombard collected Rs 278 crore against Rs 275 crore in January 2007. At the same time, four public sector non-life insurance companies collected Rs 1,467 crore against Rs 1,391 crore in the corresponding month a year ago.

In percentage terms, while the public sector could increase their premiums by just 5.4 per cent, nine private sector players clocked premium growth of 22 per cent. During the month, market leader New India Assurance premium collection grew by 6.7 per cent to Rs 451 crore as compared to Rs 422 crore in the year-ago period. However, Oriental Insurance posted a negative growth of 1.9 per cent to Rs 327 crore against Rs 333 crore in the same month last year. Private sector players' market share stood at 40 per cent as compared to the public sector's share of 60 per cent in the month.

Indian apparel brands eyeing Chinese mart

2008-02-28T01:43:00.001-08:00

After sourcing from China, the Indian apparel brands are set to design a retail road map in the dragon nation.

The brands like Koutons, Lilliput and Spykar are exploring joint venture and inorganic growth opportunities to tap the Chinese market.

The kidswear brand Lilliput is entering China through a newly formed joint venture firm Lilliput Kidswear China.

Sanjeev Narula, managing director, Lilliput said, “ The company has identified West Asia and China as focused markets for international expansion. We already source 20 per cent of the merchandise from China and now plans to open 6 stores through the joint venture.”

The move is a part of the industry initiative to not only look at China as a sourcing hub but also a potential apparel market.

Rahul Mehta, president, Clothing Manufacturers Association of India (CMAI) said,” Indian firms have never thought of China as an export market but we have realised that there is a good scope for Indian brands to compete in the Chinese market. CMAI intends to take a delegation of at least 10-12 brands to China in order to explore the market.”

The Indian companies are spotting opportunity in China’s vast manufacturing capability and the equally strong purchasing power. For instance, Koutons has hinted at acquiring manufacturing units to gain production scale for its Chinese operations.

D P S Kohli, chairman, Koutons said, “Unlike the common perception of China manufacturing cheap goods, there are some good volume producers as well.

Apart from setting up a sourcing office, the company is also looking for a manufacturing base for cost efficiency and drive synergy between India and China.”

While Lilliput will position the brand at a higher retail price than in India. The brand’s average retail price in India is $13 (about Rs 520) but it will price Lilliput at $22 (Rs 880) in China.

AAI lines up US$ 3.13 billion airport revamp

2008-02-28T01:42:00.000-08:00

The country's aviation infrastructure will get a massive investment dose over the next five years. Airports Authority of India (AAI) has planned to set aside Rs 12,434 crore for the upgradation and modernisation process.

For the three metro airports in Kolkata, Chennai and Trivandrum, AAI has earmarked 43% of its planned outlay, while the rest will go into upgrading other non-metro airports and modernising the existing aeronautical facilities.

Of the Rs 5,332.13 crore earmarked for the three metro airports, Chennai has got the highest share — Rs 2,462 crore — for revamping the existing airport while the Kolkata airport will be modernised with a total outlay of Rs 2,417 crore.

Another Rs 452 crore will be spent on the Trivandrum airport. AAI has floated tenders for the modernisation of these metro projects, which are likely to be at par with India’s busiest Mumbai and Delhi airports, which are currently being re-developed by major private players.

Sources in AAI said the process to scale up two of India’s most profitable airports — Kolkata and Chennai — to world standards has already started with adequate funds put in place for the next five years.

“A major portion of the funds will go into starting new facilities like integrated passenger terminals, constructing new runways and launching hi-tech communication services. These services will be developed to global standards and several foreign partners will be roped in by AAI for construction and on turn-key basis,” said an AAI official.

It’s not just about new terminals and cargo facilities; AAI will be investing a substantial part of Rs 1,743 crore into modernisation of aeronautical communication systems at more than 125 airports managed by the authority.

The outlay will be spent installing new communication navigational systems for air traffic control (ATC) in inland and oceanic areas using satellite mode of communication at these airports for faster transfer of aircraft and cargo.

A part of the investment will also be made at the Delhi and Mumbai airports where AAI is providing ATC services.

With the upgradation of infrastructure, AAI will be able to cater to passenger traffic of 10 crore passengers per year and will be capable of handling cargo traffic of over 50 lakh tonnes annually.

Beverage firms to flood market with health drinks

2008-02-28T01:40:00.000-08:00

This summer, the beverages market will move a little more away from its carbonated drinks. Stretching the health and wellness plank, beverage makers have lined up five-six new health drinks in the coming months, more than in any other category.

Health drinks such as Ribena, Lucozade and X-35 Body fuel may soon become the household names, as PepsiCo, Coca-Cola, Amul and GlaxoSmithkline are planning to introduce these drinks.

"The penetration levels of aerated drinks in India are quite low compared with other developing and developed markets. Carbonates are expected to register relatively moderate volume and value growth as consumers are increasingly opting for healthier beverages such as fruit juices and fruit-based drinks, and even bottled water," said Harminder Sahni, managing director of Technopak Advisors, a retail consultancy.

Thus, the Rs 7,200-crore carbonated drinks category are expected to face the heat of the rising competition this summer from categories falling under the health umbrella. At present, these categories are juice and juice-based drinks, energy and sports drinks, malted beverages, probiotic drinks and bottled water.

PepsiCo India is eyeing a larger share of the Rs 1,200-crore juice and juice-based drinks market. "These drinks are the fastest-growing category in the beverages market and over 50 per cent of the volume is to come from the category this year," said Sanjiv Chadha, chief executive officer, PepsiCo India.

The company is also planning to expand its juice drink Tropicana Twister in three more flavours this year. It is also working towards increasing its share of the drinking water market.

Coca-Cola too is widening its portfolio. "Our entire brand portfolio has been designed to satisfy the various needs of the consumers -- be it hydration, energy, enjoyment or simply having fun. As part of the same endeavor, we are exploring a wide variety of beverage opportunities such as juice and juice-based drinks, energy and sports drinks, flavored water," said Atul Singh, president & CEO, Coca-Cola India.

According to an industry analyst, the gross margin in the fruit beverages and the bottled water categories are high, which is incentive enough for beverage makers to strengthen their portfolios.

GlaxoSmithKline Consumer Health Care is tempted to enter the category. Zubair Ahmed, managing director, said: "We plan to bring in Lucozade Sport for athletes and Ribena - a Vitamin C-based fruit drink into the market soon. However, there are regulatory challenges at present and the stability of products is to be tested."

Home-grown FMCG company Dabur has launched a malted food drink, Chyawan Junior, and plans to expand its Real juices and Real Twist portfolio.

Yakult Danone India is busy nurturing the newest kid on the beverage block, probiotic drinks. The nascent category has already struck a chord with the Indian consumer to become a Rs 200-crore market. Dairy company such as Amul and Mother dairy too have entered this segment with probiotic lassi.

Gati to invest US$ 100 million in expansion

2008-02-25T21:30:00.000-08:00

The company plans to expand warehouses, build up IT capabilities and enter new business areas
New Delhi: Logistics and supply chain management company Gati Ltd will invest $100 million over the next 18 months to expand operations in the domestic and overseas markets as it expects to become a Rs1,000 crore firm by 2008-09.

The company plans to spend $100 million for expanding warehouses, build up IT capabilities and entering new business areas.

“We would complete the planned investment of $100 million by June 2009 to expand our warehouses and other services. The company intends to touch a top line of Rs1,000 crore by the end of the proposed expansion,” said Mahendra Agarwal, managing director, Gati Ltd.

He said the company, which operates a July-June fiscal, closed 2006-07 with revenues of Rs460 crore.

Gati plans to fund the proposed expansion through a mix of internal accruals and debt. The company has already raised $40 million, while the remaining $60 million would come from internal accruals.

The company had tied up with Air India to launch AI Gati Zipp service in November last year. It would soon expand its fleet size by adding third aircraft next week. Air freight carriage presently contributes 15% to Gati’s turnover.

Gati on Monday entered into a strategic alliance with Amsterdam-based parcel service provider General Logistics Systems (GLS), to start its operations in Europe.

The company, which covers 594 out of 604 districts in India, would act as the strategic partner of GLS in India.

“The alliance with Gati is specially designed to provide both GLS and Gati customers the advantages of size, reach, flexibility along with infrastructure to provide unmatched service levels in India and Europe,” said Saadi Al-Soudani, managing director, GLS.

Honda to expand dealership network in 3 years; double capacity

2008-02-25T21:29:00.000-08:00

Preparing for its planned foray into the compact car segment in India, Japanese auto major Honda on Monday said it will be expanding dealership network across 90 cities in the country in the next three years.

The company will also expand its production capacity to 1,60,000 units by the end of next year.

"In preparation for Honda's planned foray into the compact car segment, we are expanding our dealership network to 160 in 90 cities in the next three years," Honda Siel Cars India President and CEO M Takedagawa said at the inauguration of its new unit here.

The company currently has a network of 80 dealers in 51 cities and will be taking up the number to 100 in 2008-09.

HSCI's facility here will have a capacity of 1,00,000 units, up form the current 50,000 units. It has invested Rs 400 crore in the capacity expansion. With this investment, HSCI has invested a total of Rs 1,620 crore since it started operations in India in 1997.

The company, which is currently constructing a second manufacturing facility in Rajasthan, expects to start production there with an initial capacity of 60,000 units.

India to have first green hotel in Hyderabad

2008-02-25T21:27:00.000-08:00

For the new-age green consumer and those who believe in sustainable tourism here is a good news. After eco-friendly hotels, India will have it’s first green hotel — The Park Hotel in Hyderabad. The investment in this 280-room hotel, scheduled to start operations by mid-2009, will be around Rs 350 crore, 15% higher than a regular hotel. And it might not be a good idea for smokers to book a room in the hotel as 90% of it’s area will be non-smoking.

Another Park Hotel property lined up in Pune, for which the group recently acquired 90,000 sq ft, will also be built on the lines of green buildings. “For the Hyderabad property, we will be seeking US Green Building Council’s (USGBC) certification. We will be targeting at least LEED (Leadership in Energy and Environment Design) gold rating for this hotel.

However, for the Pune project we will be only going for a LEED certificate and not gold or a platinum rating,” says Deepak Bali, V-P, projects, The Park. There will be designated smoking lounges in the property and more than 90% of the property space will be non-smoking.

Also, there will be separate air-handling systems for smoking and non-smoking areas. Explaining the difference between ratings, founder of Spectral Consultancy Services, an engineering consultancy, Prem C Jain, says, “While at a green certified building, energy is marginally saved, in platinum rated buildings energy, is saved till the last drop.”

There are around nine eco-friendly hotels in the country with ECOTEL certification such as Lotus Suites in Mumbai and Uppal’s Orchid in New Delhi. An eco-friendly hotel is constructed using recycled materials, whereas a green building aims at saving energy. “Though the initial cost of construction is almost 15% higher for a green hotel, we will be able to recover that through efficiency in operations. A green hotel saves 34.7% of the energy costs,” added Bali.

According to Spectral Consultancy Services, The Oberoi Group also has two green hotel projects in the pipeline — in Hyderabad and Goa. However, an e-mail query sent to the hotel remained unanswered.

India has 17 green buildings and around 170 are registered with Indian Green Building Council (IGBC), awaiting LEED certification Though an exact fix is not available, globally there are very few certified green hotels such as San Francisco-based Orchard Garden Hotel. But according to IGBC’s estimates, there will be at least 100 green hotels worldwide in the next two years.

World's largest hedge fund firm now in India

2008-02-25T21:25:00.000-08:00

Renaissance Technologies, the world’s largest hedge fund firm handling assets worth $35.4 billion (Rs 1,41,600 crore), has received approval from the Securities and Exchange Board of India (Sebi) to operate in the Indian stock markets as a foreign institutional investor.

Renaissance is the latest — and the biggest — among several hedge fund players that entered India following a liberal approach taken by the Indian regulator on hedge fund participation in the booming Indian stock market.

Others that recently entered include Vikram Pandit-founded Old Lane, DE Shaw (the world’s fifth-largest hedge fund with $29 billion or Rs 1,16,000 crore worth assets) and Och-Ziff Capital Management (the seventh largest with $28.6 billion or Rs 1,14,400 crore in assets), according to the Sebi website.

Renaissance, founded by 69-year-old Jim Simons, is based out of Manhattan, the US, and is perhaps the most interesting hedge fund. It has more than 260 employees — many of them are PhDs and not conventional analysts from management schools.

The hedge fund major’s Medallion Fund uses trading algorithms to invest across the world markets.

It returned more than 50 per cent in the first three quarters of 2007, according to a Bloomberg report. It had about $6 billion (Rs 24,000 crore) in assets as of July 1.

Renaissance’s returns stand out as the turmoil in the US credit markets and the meltdown in stock prices across the world took a knock on many hedge funds. Bear Stearns, for instance, saw two of its mortgage-related hedge funds falling into bankruptcy.

Others such as Goldman Sachs’ Global Alpha Fund, which competes with Renaissance’s funds, lost more than 25 per cent in the same period.

The approval, which was given in January, follows efforts by Sebi to get hedge funds and other overseas investors to register and participate directly in the Indian markets instead of through Participatory Notes or P-notes, which are offshore derivative instruments used by investors that are not registered with Sebi to invest in Indian securities.

Sebi had tightened the rules for trading through P-notes in October last year to arrest the surge in foreign inflows.

“It is good. At the end of the day, it is money and Sebi has made the inflow of money into our markets more transparent,” said Prabhat Awasthi, head of equity research and managing director (equities) at Lehman Brothers.

According to Hedge Fund.net, which tracks the hedge fund industry, January was tough for hedge funds that have emerging market strategies, though many believed that India and China’s fast growing economies could withstand shocks to other parts of the international business system.

IT in India

2007-12-15T21:17:00.000-08:00

Information Technology in India

ART & ARCHITECTURE OF THE INDUS VALLEY CIVILISATION

2007-09-19T01:02:00.000-07:00

India's Cultural history dates back to about 3200 BC to the times of the lndus Valley Civilisation or what is also called the Harappan Culture. It flourished for about a thousand years. This civilization came to light in 1922 while archaeologists were carrying on excavations at Mohenjo-Daro and Harappa, now in Pakistan. Since then, many other Harappan sites and artifacts such as seals, toys, weapons, sculptures and jewellery have been discovered along the river Indus up to the river Ganges in the East. Archaeologists believe that a number of communities lived here in villages, towns and sea-ports.

The sea-port of Lothal on the Gulf of Cambay has an enclosed shipping dock more than 216 metres long and 37 metres wide. It was controlled by a sluice-gate and ships could be loaded at both high and low tides. Other buildings unearthed in the citadel are the Great Bath, Granaries, residential houses and the Assembly Hall.

The Great Bath

The most impressive structure excavated at Mohenjo-Daro so far, is the Great Bath. Constructed with kiln-burnt bricks, this Monumental Bath is a pool 12 metres long, 7 metres wide and 2.5 metres deep. Gypsum has been used along with mortar to make the floor and sides of the pool water-tight. The pool is in the centre of a large open quadrangle with rooms and galleries on all sides. A flight of steps at either end connects it the rooms. Probably meant for religious rites, it may have been used by the

people for changing their clothes. The pool was fed by a well nearby and the dirty water was drained into the city's sewage system through a large corbelled drain 1.83 metres high.

The Granary at Harappa

The Granary at Harappa is made of burnt brick. Built close to the river Ravi to make transportation easy, it is comprised of two blocks. Each block has six storage rooms 15 metres long and 6 metres wide. The two blocks are separated by a passage. Air-ducts are provided under the wooden floor. The row of triangular openings may have been for ventilation. The granary complex measures 55 metres by 43 metres

The Assembly Hall

The Assembly Hall covers an area of 750 square metres. Four rows of fine brick piers and pillars at the corners suggest that it was used as an assembly hall.

Secured Loan from Shakespeare Finance

2007-08-25T00:25:00.000-07:00

Secured Loans - Compare personal loans plans from over 200 different lenders at shakespearefinance.co.uk.

Dude releases his new album on a NES cartridge

2007-07-11T09:27:00.000-07:00

Check out releases his new album on a NES cartridge on youtubemix.blogspot.com

New Seven Wonders : Official announcement (Youtubemix)

2007-07-06T21:38:00.000-07:00

New Seven Wonders : Official announcement

India may get the right coach soon: Ford is prime contender

2007-06-09T01:06:00.000-07:00

Former South Africa coach Graham Ford remains the front-runner for Indian team coach's role but ex-England off-spinner John Emburey isn't looking that bad either.
Sunil Gavaskar has thrown his weight behind Emburey while among Ford's backers, Ravi Shastri is the most prominent name.A few Indian players are bewildered at Emburey's choice as he didn't make mark as coach in the county circuit. He was removed by Northamptonshire and then Middlesex. The general feeling initially was that Emburey got the call simply to project a semblance of competition for the slot.

The BCCI has invited Graham Ford and John Emburey to come to Chennai and make a presentation to the Special Committee on 9th June, after which a final decision on the next coach of Indian team will be made," BCCI Secretary Niranjan Shah said in a statement.

Emburey was quoted by AFP as saying that he felt honoured to be considered for "one of the biggest jobs of the world game and one of the most difficult" and he would attend the June 9 meeting in Chennai.
He termed Indian cricket team as a "sleeping giant" and said "with the quality of players they've got and young players coming through, I'd really like to be a part of their development"."At this stage of my career, it is a way of moving forward onto the international stage", he said.

Emburey said Middlesex has received the news of his being considered for the Indian coach's post "very well"."They (Middlesex) see it as a move forward in my career. But it's not a foregone conclusion. There is another candidate and they have said the Middlesex job remains open for me", Embury said.

Emburey played in 64 Tests and took 147 wickets. He was also a capable batsman for an off-spinner, scoring 1713 runs at an average of 22.53 between 1978 and 1995. He took 76 wickets from 61 ODIs. Besides he also captained England in two Tests in 1988.After his playing career, Emburey coached Northamptonshire and Middlesex, two other teams he played for in first-class cricket.

Ford, who coached South Africa between 1999 and 2001 and currently Director of Coaching with Kent County Club, emerged as the front runner after the BCCI Search Committee meeting in Bangalore last evening, displacing Australian Dav Whatmore to succeed fellow Aussie Greg Chappell as India's coach.
Ford said he felt "very honoured" and "excited" to be considered for the job. "Anybody involved with cricket would like to be associated with Indian cricket", he told Times Now TV news channel.
"I am considering the position but I have a contract with Kent. I need to sort that out", Ford said. Asked if his removal as South African coach in 2001 in the wake of the match-fixing scam would go against him in the race for the Indian coach's post, he said "I don't think that should be held against in anyway.

Ford claimed his coaching will be successful with the team for its work ethics and long hours he spends with each individual."I will do a supporting act to get the players out there to give their best, empowering them and giving them the confidence to perform at the big stage", said Ford who had worked as assistant to late Bob Woolmer with the South African team before taking over from him after the 1999 World Cup. (Agencies)

Sidhu said that Ravi Shastri, who was the manager of the team during the Bangladesh tour, was the right candidate to fill the post of a 'professional man manager'.
"In the light of present circumstances, there was no dire need to appoint coach for the Indian team but BCCI must put emphasis on role of captain of team as captain always play an important role to get better performance," Sidhu told reporters.

Sidhu said that presently the presence of coach in the team is not keeping much importance as there are experienced and matured players in the side."Moreover well-matured and well-experienced players did not need coaching. Teams always need good and proper direction during the match and that could only be given by the captain and a proper management and not by the coach," he said.

Transexual becomes mayor in Cambridge

2007-06-03T04:20:00.000-07:00

Jenny Bailey, 45, was installed Thursday as mayor of the Cambridge City Council, and her partner Jennifer Liddle, 49, a former council member, assumed the honorary title of mayoress, which is given to the partner of the mayor.

Both were born male, and had gender reassignment surgery in their 30s. According to the Local Government Association, Bailey is the first transsexual to serve as a mayor in Britain.

“This is fantastic,” Bailey said after being installed.

She has two sons with her ex-wife, who remains a friend.

Rob Hammond, Cambridge Council’s chief executive, said he knew there would be interest in the new mayor’s sex change.

“It is the council’s firm view that someone’s gender and sexual orientation has no bearing on their suitability to hold public office,” Hammond said.

Bailey, a Liberal Democrat, previously served as deputy mayor.

“People can take me as a role model if they want,” The Times newspaper quoted her as saying.

“But for transgender people, all we want is to disappear and become normal, so I don’t want to let it define me. When you go through transgender experience and come through the other side, you are just happy to get on with normal life, normal problems, so this is a wonderful opportunity.”

ANTI-RAPE CONDOM

2007-06-03T02:42:00.000-07:00

The adage "an ounce of prevention is worth a pound of cure" has taken on new meaning.

And with the RapeX anti-rape female condom, that pound is coming out of somebody's johnson.

RapeX is a female condom that damages a rapist's penis after penetration with sharp microscopic barbs that hook into the skin.

After the man is incapacitated, this ostensibly gives the woman time to escape. The condom can only be surgically removed (thereby catching the perp redhanded), but supposedly will not cause major damage if removed immediately.
Invented by Sonette Ehlers, a blood technician at the South African Institute for Medical Research, RapeX has been in existence since August 2005 and is to be inserted and worn when a woman is "on a train, working late, going out on a date with someone you don't know too well, going to clubs, or in any situation that you might not feel comfortable or even just not sure."

Rape plays a significant role in the high prevalence of HIV among women in South Africa.
South Africa is a country hardest hit by AIDS, a lot of which is fueled by an epidemic of rape: In a 2006 study of 1,370 South African men, nearly 20% revealed that they had raped a woman (and these are the ones ADMITTING it!)
By the end of 2005, there were five and a half million people living with HIV in South Africa, and almost 1,000 AIDS deaths occurring every day.

Ehlers, who has been working with rape victims for over 20 years, said that she got the idea from a combination of a young woman raped who said "If only I had teeth down there," and hearing about a young man admitted to a hospital for getting his penis caught in his trouser zipper and the excruciating pain.

RapeX is currently not available commercially, but the Web site says it should be available soon, and would retail for a little more than a regular condom.

Buffalo Advocates Stop the Slaughter!!!

2007-06-03T01:09:00.001-07:00

Dear Buffalo Friends,
We have great news to report: YOU STOPPED THE PLANNED SLAUGHTER OF THE BUFFALO!!!!
This afternoon, Montana Governor Brian Schweitzer and Yellowstone National Park held a joint press conference in Helena, Montana, to announce that they WILL NOT SLAUGHTER any wild buffalo that remain in Montana come Monday! All those buffalo babies, their moms, and their families will live on!

This is a major victory for wild buffalo and their advocates worldwide! THANK YOU!
While the larger issue is far from being resolved, we should all take a deep breath and give thanks for this incredible news that we all helped make happen. The power, prayers, energy, spirit, love, and ACTION of all the people who care about the buffalo made this happen!

Here are the buffalo you helped save: http://www.buffalofieldcampaign.org/media/photos/bisonphotos0607maycalves.html

The word from Montana and Yellowstone is this: any wild buffalo found in Montana come Monday would be transported (captured and hauled in trailers) into Yellowstone National Park. They would be taken north, to Stephens Creek, and let go. This transport could be very hard on the buffalo, especially the small calves, so we are hopeful that it will not have to occur at all.

The long-term solution for wild buffalo is year-round HABITAT! Yesterday approximately 200 buffalo were forcefully pushed out of Montana (off of our National Forest lands), back into Yellowstone National Park. The agents used horsemen and a helicopter to conduct this operation. Today, the same thing happened, with about 50 buffalo (moms, babies, families) being pushed off of Horse Butte, deep into Yellowstone. Sadly, the buffalo were pushed extremely hard - especially by the helicopter - and they were shot with orange paint balls by the agents on horseback. It almost looked like a re-enactment from the shameful buffalo hunts of the 1800s. You can see footage from yesterday at http://www.buffalofieldcampaign.org.

During today's operation, a baby buffalo collapsed from exhaustion and possible injury. BFC patrols stayed with this little calf and its mom until they were able to be strong enough to resume their trek to catch up with their family members who had been chased out of Montana. They made it!

This great victory is not without its shadow, as wild buffalo should be allowed to roam freely in Montana, especially on our public lands. We will keep fighting for the buffalo until they are wild and free. But we will celebrate that these buffalo will not be sent to slaughter and that is because you made it happen! Thank you all so much! You flooded them with calls, emails, faxes and IT WORKED! The governor and Yellowstone made the right decision.
Source: buffalofieldcampaign.org

World First Freefall Tattoo

2007-06-03T01:01:00.000-07:00

Do you think it is possible to get a tattoo while you are skydiving? Yes, it is true.

Jonas got a WFFT tattoo made while skydiving with Nordin at a height of 4,000m (13,123 ft) in Sweden. WFFT means World's First Freefall Tattoo. This feat has created a new world record in the process.

Breastfeeding in Public Around The World

2007-06-02T20:27:00.000-07:00

Women were not created as sexual objects to be looked upon as some kind of “toys”, and breasts were not created for that purpose either. Female breasts have a purpose, and that purpose is the reason they exist. They were given to us as the means of BREASTfeeding our babies!

Basically breastfeeding in public IS legal in the United States, though sometimes people simply don’t know it and therefore might complain about it. This means you can nurse your baby anywhere that you are allowed to be with the baby.

This is some of the collection of notes that I picked from the original source about attitudes towards public breastfeeding in different countries around the world. On this page are comments from Americas, Asia, and Africa.

Saudi-Arabia
State: Jeddah

If woman feed her baby and the peoples are seeing her, of course they like to see her breast more and more and may be they come hot and like to do sex with that lady who is feeding. And I think it is not good that any lady feed her babies in public places. If she want yes, she can move to the place where no one can see her.

Mexico
State: Tijuana, Baja California

I lived in Tijuana, Mexico from 2004 to 2006 and most women did not breastfeed. Breastfeeding was for the extremely poor, the radical left in the middle class, or the very well-educated. The majority of the middle class and the wealthy class did not breastfeed. As a result, breastfeeding my children in public in Mexico was uncomfortable as the men, who were not normally accustomed to seeing breastfeeding, would stare. I cannot comment on southern Mexico.

Chile.

In Chile women breastfeed their babies everywhere. It’s not considered a choice, formula is considered a supplement for when breastmilk is not available or enough (not very common or sometimes misdiagnosed supply issues).

Pakistan

The Pakistani society in influenced by the religion or the religion pundits. In rural area the breasfeeding in public in not a harm where mothers feed babies covered or otherwise. In cities, it is not seen in public. Even women avoid in presence of relatives. The topless beaches is a dream and the fundamentalists can enjoy two or three wives, legal or illegal but the poor are aspiring for one.

Guatemala.

We lived in Guatemala from 2002 to 2004 (I am originally from the U.S.) and I saw more breasts in those two years than at any other time in my life. Women would breastfeed anywhere and everywhere without covering up–in the queue at the bank, at the airport, in shopping malls and restaurants, in parks, on the sidewalk. It is viewed as completely natural and normal in Guatemala.

Indonesia
State: Jakarta

Most people will feed discreetly. But now more and more are open about it. Personally I have seen an Indonesian mother feeding her toddler with no care of her surroundings. She had her boob out and while one nipple is in her son’s mouth, the other nipple is being twirled and rolled by her son. I think her son uses the nipple as a comfort thing like sometimes babies need to roll the end of a pillow. I didn’t see any people staring at her.

Malaysia.

I think majority of city moms bottle feed. In rural areas, most mothers breastfeed. It is not uncommon to see a mother breastfeeding her baby in a bus or on a train or at a bus station. It is more uncommon to see a mother breastfeeding in Starbuck or in the city, actually. However, breastfeeding is catching on in Malaysia and a lot of awareness are being promoted

Taiwan

I hate to say that, but breastfeeding is not really common in Taiwan. But after the government and hospital try to promote the advantages of breastfeeding, breastfeeding people were getting more and more. But still less then 10%. Mostly people use formula feeding their babies. I never saw any woman breastfeeding in public. Well, most Asian people are really shy.

Brazil
State: Cear

In Brazil breastfeeding is highly recommended by doctors and campaigns on TV. Some mothers still use formula because they don’t have the support from their families. The state of Cear, where I live, is the state in the country with the highest rate of babies exclusively breastfed until their 4th month.

Ghana

In Ghana bottlefeeding is for orphans, babies whose mothers cannot produce enough milk, upper class wannabes and expatriates. Ghanaian women breastfeed - everywhere and anywhere. The poor ones just whip it out, let it show. The rich ones have special tops made so its not ALL hanging out. Growing up I used to watch my neighbour breastfeed her baby - all the kids would gather and stare in astonishment…and NO ONE had a problem with it. If you grow up thinking its normal, you will NEVER be offended.

What is your opinion about this subject?

Google Data Center Coverage

2007-06-02T20:11:00.000-07:00

Recently, I visited secret area of Google Data Center (where they process search queries). Here is the spy photo that I was able to make! Now we know how they really work!

10,000 suicide bombers on the mosque premises in Pakistan

2007-06-02T19:00:00.000-07:00

Pakistan's Lal Masjid, where a standoff between the mosque administration and the local police continues for over a fortnight now, has more than 10,000 suicide bombers on the mosque premises, the Khateeb of the mosque, Maulana Abdul Aziz, has claimed.

The police and the Lal Masjid administration have been negotiating a trade-off ever since the Taliban 'on duty' in and around the Jamia Hafsa and Lal Masjid abducted four Islamabad police officials on May 19.

"The suicide attackers are ready to operate anywhere/anytime in Pakistan," Maulana Abdul Aziz told a press briefing at the Lal Masjid. He also claimed that it has more than one lakh suicide attackers across Pakistan.

"We consider suicide attacks are right in Pakistan in a few circumstances, while we consider them as absolutely justified in the context of Afghanistan and Iraq," Pakistan's News International quoted Abdul Aziz as saying.

"Our students enjoy the moments when a police or Rangers operation looms, and they get bored when the situation normalises," he said of the situation inside Lal Masjid. "We favoured the Taliban not only in the past, we favour them even today," he said

Refuting a general perception that the Musharraf regime and those running the affairs of the Lal Masjid were actually making fool of the people, the Maulana said: "We are not operating under the command of any intelligence agency.

Responding to a question that the strategy adopted by the Lal Masjid administration to solve different problems was helping Musharraf’s agenda to bring liberalism in the country and that analysts think that the clerics were operating on the direction of agencies and basically helping the regime to achieve its agenda, he said it was totally wrong.

“We are not operating under the command of some agency, and I am ready for ‘Mubahela’ in this regard,” he added. He said the Musharraf government was not taking any advantage to fulfil its agendas from the actions of the Lal Masjid.

Angelina Jolie doesn't eat because she feels guilty

2007-06-02T08:25:00.000-07:00

After telling the world that he is worried about Angelina Jolie's dramatic weight loss, she is also Planning to Elaborate Wedding. her brother James Haven now allegedly reveals why Angelina is so skinny: she doesn't eat because she feels guilty about the starving people in Third World countries!

James told Closer magazine: "Angelina's life changed after she visited Ethiopia. Whenever she's there, there's often no food for her and she goes without."She's become used to periods of very little or no food, so she has a much smaller appetite and a different attitude to eating because of it."

He also says that it's hard for Angelina to order freely when she goes to expensive restaurants, because she feels guilty about what she eats compared to the starving people that she wants to help.

Laughing on the Internet

2007-06-02T08:22:00.001-07:00

Hey readers,

So I have decided to publish what I believe is the correct method in which to express varying degrees of laughter on the interwebs. This is my personal interpretation of what it should be:

LOL- This is to be used when the other person says something they believed was funny yet you don't find it funny. It is just a matter of courtesy.

LMAO-When you find something funny and you get a good laugh out of it you use this.

LMFAO- More of the LMAO except maybe a bit more funny.

Haha-This is also when something is funny but you only get a chuckle out of it

Hahahahahahahahaha- This only occurs when the other person finds it genuinely hysterical. Usually the more hahaha the funnier it was.

I know I am missing some so please comment and tell me the ones that I am missing. This is not a end all solution and I hope to be able to update it as the comments and feedback come in. My ultimate goal is to try and start and create a master list that can be used for future reference. Now go use you new found knowledge and take over the intenets.

Google has bought FeedBurner

2007-06-02T08:11:00.000-07:00

As you know, we're constantly looking for ways to identify and offer new tools for content creators and website publishers. Likewise, we constantly aim to give AdWords advertisers broader distribution to an even wider audience of users. For these reasons, we're very pleased to tell you that we've just acquired FeedBurner.

For those of you who aren't bloggers, podcasters, or feed creators, Chicago-based FeedBurner is a leading provider of feed distribution and management tools. A web feed is a way for online publishers to syndicate their content and deliver it straight to readers. Each day, FeedBurner delivers feeds to millions of users around the world and offers unique and useful tools for publishers to analyze, optimize, and monetize their content. Further, FeedBurner offers a feed advertising platform for advertisers to reach engaged feed readers through targeted in-feed ads and innovative techniques like RSS feed-driven ads.

We're excited to continue offering the exceptional tools of FeedBurner to content creators throughout the world, and our teams will work together to improve the experiences of feed users, advertisers, and publishers. You can sign up for FeedBurner's services and take advantage of their feed tools and features immediately.

Last.fm comes to Facebook

2007-06-02T08:06:00.000-07:00

When Facebook’s new platform launched last month, to allow third parties to partner with the social networking site, who in return would provide the necessary hooks for those companies to port their applications and set-up-shop inside of the site, the omission of the popular music social network Last.fm was puzzling. Mike Arrington (over at TechCrunch) noted that their absence had left such a void that one user had even taken it upon themselves to roll a Last.fm Facebook app of their own. Then came news that CBS had acquired Last.fm and many presumed that this distraction was the reason that they hadn’t yet joined Facebook’s new platform.

Not the case. Last.fm simply hadn’t been invited — a decision made even more intriguing as one of its main competitors, iLike, had been included in the pre-launch programme and almost instantly became one the top five most popular Facebook apps.

As of today, Last.fm is missing in action no more.

“We’re pleased to announce the release of Last.fm Music, our first (and certainly not last) Facebook app”, writes Matthew Ogle on the official blog.

Since the launch of Facebook Platform last Thursday, certain parties have been wondering where our application was. The truth is that we were perplexingly left out of Facebook’s early development program, so while some of our competitors had six weeks to work on their stuff, we had to wait until Thursday like everyone else.

The new Facebook app adds Last.fm’s personalised music player to a user’s profile. Users can showcase any of their saved stations (or playlist), along with recently saved tracks. The clever bit is that this that the Flash-based streaming player can also be added even if you don’t have a Last.fm account — “if you don’t have a Last.fm username, the app creates a station based on the artists listed in your ‘favourite music’ section” — which really lowers the barriers to trying out the service.

Cheney: You Don’t Need To Know

2007-05-31T10:13:00.000-07:00

Oh, for God's sake! How much more evidence does Congress need to begin impeachment proceedings against the Vice (emphasis on vice) President? Read this and weep for the rule of law that the neo-cons were so certain Clinton had ground into dust. HA! I made myself laugh!

In response to CREW's lawsuit over access to what should be public records, we learned that Vice President Cheney's lawyer told the Secret Service that visitor logs were his records, not theirs. That meant Cheney could prevent any public access. Before you read the AP article, know CREW's position according to our counsel, Anne Weismann: "The latest filings make clear that the administration has been destroying documents and entering into secret agreements in violation of the law."

Bush hires Halliburton/KBR to build detention camps in USA

2007-05-31T09:29:00.000-07:00

Halliburton's former engineering and construction subsidiary has a contingency contract with the Department of Homeland Security to construct detention facilities in the event of a national emergency, according to WND columnist Jerome Corsi.

As Corsi reported last week, President Bush recently signed a little-reported National Security and Homeland Security Directive granting extraordinary powers to the president in the event of a declared national emergency, apparently without congressional approval or oversight.

Houston-based KBR was awarded an initial $385 million contract in January 2006 for one year, with four one-year options extended into 2007. KBR held a previous emergency detention contract with ICE from 2000 to 2005.

ICE spokeswoman Jamie Zuieback told Corsi the primary intent of the contract was to build temporary detention facilities that could be used in the event of a mass migration crisis, but she confirmed the facilities could be employed in national emergencies, including natural disasters.

"The idea of the KBR contract is to support the Army Corp of Engineers in case we experienced a sudden mass immigration and we had to respond quickly," she said. "We would need immediate detention facilities in the form of temporary housing that would enable us to determine if the large numbers of illegal immigrants were political or economically motivated, or if they were criminals or terrorists."

Corsi reported last week the May 9 directive signed by Bush concentrates an unprecedented amount of emergency authority in the office of the president, specifying the chief executive would have the authority to direct "National Essential Functions" of all federal state, local, territorial and tribal governments, as well as private sector organizations in the event of a national emergency.

The directive loosely defines "catastrophic emergency" as "any incident, regardless of location, that results in extraordinary levels of mass casualties, damage, or disruption severely affecting the U.S. population, infrastructure, environment, economy or government functions."

The KBR contingency contract appears to give ICE the ability to have detention facilities constructed under the president's direction in response to a national emergency as declared under the new directive.

ICE's Zuieback said she was not familiar with the directive, and at her request, Corsi e-mailed her the link to the White House's posting of the directive.

The White House has not responded to a request for comment on the story about the directive.

Woman on an Oxygen Machine Dies After Energy Firm Switches off Power

2007-05-31T09:22:00.000-07:00

Folole Muliaga, a 44-year-old mother of four, died within two hours of the electricity being switched off at her home in the northern city of Auckland.

Police said they were investigating the circumstances of Mrs Muliaga's death.

The power company, Mercury Energy, said it had been unaware any disconnection would put her life at risk.

Relatives of Mrs Muliaga, a schoolteacher, said she had been off work since February with a heart and lung condition.

Because of this, the family claim, she had fallen behind with her energy bills.

'Deeply sympathetic'

When a company representative arrived at the house to disconnect the supply, they said they impressed upon him her dependency on the machine to stay alive.

Mrs Muliaga's son Letitaia, 20, said the employee showed no compassion.

"He said he is here doing his job and he's here to cut the power off," he was quoted by local media as saying.

Another relative, Brendan Sheehan, said that almost immediately Mrs Muliaga started to suffer breathing difficulties and collapsed.

Paramedics were called but she died within two hours of the power being cut, he added.

Mercury Energy said it was "deeply sympathetic" about the death, but disputed that its contractor had been made aware of Mrs Muliaga's condition.

"We were simply unaware that loss of electricity to the household was putting a vulnerable customer at risk," general manager James Moulder said.

Police Inspector Bruce Bird said the authorities were investigating the incident, but he added that it was too early to speculate on possible criminal charges.

State Owned Enterprises Minister Trevor Mallard also warned against pre-judging the outcome.

"I do think it is important that the facts are established before people rush to judgement," he said.

Bajaj Discover 125 C.C gets the Black Treatment

2007-04-27T03:28:00.000-07:00

The Bajaj Discover 125 DTSI gets the "Fear the Black" treatment..!!

Pics of the new Bajaj Discover 125 DTSI with the now very common black treatment have been put up on the Bajaj Discover Website.

Bajaj Discover 125 C.C DTSI

The Discover 112 C.C meanwhile retains the Silver Colored Engine and Alloys...

Bajaj Discover 112 C.C

The technical specifications though remains the same for both the models.

The People Hate IRAQ War

2007-04-26T03:24:00.000-07:00

A new poll from Kentucky should lay to rest any Democrat's fear that standing behind a plan to get U.S. forces out of Iraq by this time next year will hurt them.
Look at this, from a poll of 600 voters in Kentucky:

Would you favor or oppose a plan to begin withdrawing troops from Iraq this summer, and have almost all troops out of Iraq by the middle of next year?

Favor.....64%

Oppose.....28%

Don't know.....7%

As you may know, President Bush has proposed an increase of twenty-one thousand additional troops in Iraq. Do you favor or oppose President Bush's troop increase in Iraq?

Strongly favor.....21%

Somewhat favor.....15%

Total favor.....36%

Somewhat oppose.....14%

Strongly oppose.....45%

Total oppose.....59%

Don't know.....4%

How would you rate the job George Bush is doing handling the war in Iraq -- excellent, good, not so good, or poor?

Excellent.....6%

Good.....26%

Total Positive.....32%

Not so good.....27%

Poor.....40%

Total Negative.....67%

Don't know.....1%

This poll gives some pretty bad news to McConnell, with 61% of respondents saying he votes with Bush too often, and just 34% saying he represents their view on Iraq. Remember the Texas polling I wrote about a few days ago?

Voters in Texas give President George W. Bush a negative job rating (47% positive – 51% negative) and they are split in their opinion as to whether their family would be better off with a Democratic or Republican majority in the United States Senate (41% Democrats – 43% Republicans).

A strong plurality of voters in Texas believes the country is headed in the wrong direction (34% right direction – 49% wrong direction). Voters give President Bush an even more negative job rating on his handling of Iraq (41% positive – 57% negative).

That's not enough evidence of how much the American people want out of this war? How about this, a survey of likely Republican caucus participants in Iowa:

QUESTION: Do you favor a withdrawal of all United States military from Iraq within the next six months?

ANSWER:

Yes 52%

No 39%

Undecided 9%

The argument from Blue Dog Dems, from any Dem, that their district or state won't allow them to stand with Harry Reid and Nancy Pelosi in the post-veto fight to set a deadline for getting us out of Iraq, just won't fly.
Update: The House just approved the Iraq supplemental funding bill, 218-208, 2 voting present.