The acquisition, the company said, was priced at Rs 105 per share. With this acquisition, GVK will now hold 29% stake in BIAL. Just last month, the company had also acquired 12%, of the total 17%, stake that Zurich Airport held in the Bangalore airport.
The price at which the L&T stake has been acquired is exactly the same at which the Zurich Airport stake was acquired. The latter was done at a cost of Rs 484.6 crore. At the time of buying the Zurich Airport stake, GVK had said it was keen on buying more stake in BIAL.
Siemens still holds the largest stake in BIAL at 40%. GVK now becomes the second highest stake holder. Zurich Airport holds 5%. The Airports Authority of India and KSIIDC, the financing arm of the Karnataka government for infrastructure projects, hold 13% stake each.
Both L&T and Zurich Aiport have made a return of over 700% on their investments in BIAL.
GVK is also the lead promoter of Mumbai International Airport. G V Krishna Reddy, CMD of GVK, said the acquisition of additional stake in BIAL is in line with “our objective of expanding GVK’s presence in the airports business”. “As BIAL embarks on the next phase of expansion, we wish to partner with all stakeholders to ensure that Bengaluru International Airport further consolidates its position as the leading airport destination in southern India,” Reddy said in a statement issued by the company. In the airports business, GVK competes with GMR Group, which controls the Delhi and Hyderabad airports.
GVK also has experience and expertise in power, roads, oil and gas and urban infrastructure. The company said it has invested over Rs 5,000 crore in its various businesses and has projects in the pipeline worth over Rs 18,000 crore.
Monday, December 7, 2009
Saturday, December 5, 2009
Corus partly closes UK facility
Corus, Europe's second largest steel maker and owned by the Tata group, will shut down TCP's blast furnace, steel mill and one of the two coke ovens by the end of January 2010. However, it plans to keep open the wharf facility, the other coke oven and some of the power generating capacity. Corus said that the partial closure will result in the loss of about 1,700 jobs, which is about 600 fewer than previously thought.
Seven-month ago, Corus had said that the broken sale contract could lead to the closure of the Teesside steel mill in northeast England. Since then, the company had been diverting internal orders to TCP apart from securing external orders on an ad hoc basis in a bid to keep the plan open, while an alternative future for the plant was sought. This, Corus says, has cost the company about £130 million. The merchant slab plant can produce 3 million tonnes per year which, according to Corus, is not sustainable without a long-term strategic partner. The plant, with a workforce of 2,300 people, accounts for about 15% of Corus' steel production capacity.
In a statement, Corus chief executive officer Kirby Adams said, “We are acutely aware that this will be devastating news for our employees,
our contractors, their families and the local community. We extend our sincere gratitude to all of them, as well as to the management team and the trade unions on Teesside, who have all worked night and day to try and avoid this outcome.''
The company would spend £80 million to close down the plant besides covering redundancies and other contractual obligations.
Corus employee unions are unhappy over the company's move and said that it would have a disastrous impact on both the company and on the UK economy.
The company will continue to have a substantial presence in the Teesside area, employing more than 2,000 people at operations in Hartlepool, Skinningrove, the Teesside beam mill and Teesside technology centre.
Seven-month ago, Corus had said that the broken sale contract could lead to the closure of the Teesside steel mill in northeast England. Since then, the company had been diverting internal orders to TCP apart from securing external orders on an ad hoc basis in a bid to keep the plan open, while an alternative future for the plant was sought. This, Corus says, has cost the company about £130 million. The merchant slab plant can produce 3 million tonnes per year which, according to Corus, is not sustainable without a long-term strategic partner. The plant, with a workforce of 2,300 people, accounts for about 15% of Corus' steel production capacity.
In a statement, Corus chief executive officer Kirby Adams said, “We are acutely aware that this will be devastating news for our employees,
our contractors, their families and the local community. We extend our sincere gratitude to all of them, as well as to the management team and the trade unions on Teesside, who have all worked night and day to try and avoid this outcome.''
The company would spend £80 million to close down the plant besides covering redundancies and other contractual obligations.
Corus employee unions are unhappy over the company's move and said that it would have a disastrous impact on both the company and on the UK economy.
The company will continue to have a substantial presence in the Teesside area, employing more than 2,000 people at operations in Hartlepool, Skinningrove, the Teesside beam mill and Teesside technology centre.
Friday, December 4, 2009
RBI to tighten monetary policy
RBI deputy governor Usha Thorat and Prime Minister Economic Advisory Council chairman R Rangarajan on Thursday indicated that in the light of rising food inflation, which has crossed 17.5%, the country should expect a tighter monetary policy.
"Clearly now going forward, the accommodative monetary stance will have to be reassessed," Thorat said. When RBI reviewed its second quarter monetary policy in October, the country was facing a fragile economic recovery, which prompted the central bank to continue with the easy stance, she added.
However, as the economy has shown a strong growth of 7.9% in the July-September quarter, RBI got the space to tighten the money supply to contain increase in food inflation, which affected the poor badly.
Thorat said RBI is looking at WPI to reach 6-6.5% with an upward bias by end of 2009-10. Rangarajan also expressed concern over the rising food prices and said it must be checked, otherwise they will push up prices of manufactured items. "Food prices must be controlled, otherwise they have a tendency to lead to manufacturing inflation. This will require monetary action by RBI, especially money supply management," he said.
OECD secretary general Angel Gurria also argued for tightening of monetary policy by RBI to contain the inflation. However, economists feel that tightening of money supply would have little impact on the rising food prices as it is directly linked with the supply-side management.
Thorat said 7.9% GDP growth in Q2 may prompt RBI to review its 6% growth projection with an upward bias in January review.
Thorat also said the Dubai crisis will not impact the country's banking sector as the exposure "is not significant and not a matter of concern...It is not something that materially affects their balance sheets."
She, however, admitted that the Dubai crisis can have some impact on remittances and affect those parts of the country that receive inflows from the Gulf nation in larger quantity.
"Clearly now going forward, the accommodative monetary stance will have to be reassessed," Thorat said. When RBI reviewed its second quarter monetary policy in October, the country was facing a fragile economic recovery, which prompted the central bank to continue with the easy stance, she added.
However, as the economy has shown a strong growth of 7.9% in the July-September quarter, RBI got the space to tighten the money supply to contain increase in food inflation, which affected the poor badly.
Thorat said RBI is looking at WPI to reach 6-6.5% with an upward bias by end of 2009-10. Rangarajan also expressed concern over the rising food prices and said it must be checked, otherwise they will push up prices of manufactured items. "Food prices must be controlled, otherwise they have a tendency to lead to manufacturing inflation. This will require monetary action by RBI, especially money supply management," he said.
OECD secretary general Angel Gurria also argued for tightening of monetary policy by RBI to contain the inflation. However, economists feel that tightening of money supply would have little impact on the rising food prices as it is directly linked with the supply-side management.
Thorat said 7.9% GDP growth in Q2 may prompt RBI to review its 6% growth projection with an upward bias in January review.
Thorat also said the Dubai crisis will not impact the country's banking sector as the exposure "is not significant and not a matter of concern...It is not something that materially affects their balance sheets."
She, however, admitted that the Dubai crisis can have some impact on remittances and affect those parts of the country that receive inflows from the Gulf nation in larger quantity.
Wednesday, December 2, 2009
Govt will sell upto 10% in PSUs: FM
"Disinvestment of government shareholding in NTPC, SJVN and REC through public offering in domestic market, is under implementation. These public offerings are likely to be completed by March 31, 2010," Finance Minister Pranab Mukherjee said in a statement in Rajya Sabha.
While in NTPC and REC, 5 per cent stake each was being off-loaded, it was 10 per cent in SJVN through the capital market, he said.
This apart, the Department of Disinvestment has started dialogue with the administrative ministries and the central public sector undertakings (CPSUs) to assess their capital expenditure requirements to be raised through issue of fresh equity in case of other public sector undertakings.
While in NTPC and REC, 5 per cent stake each was being off-loaded, it was 10 per cent in SJVN through the capital market, he said.
This apart, the Department of Disinvestment has started dialogue with the administrative ministries and the central public sector undertakings (CPSUs) to assess their capital expenditure requirements to be raised through issue of fresh equity in case of other public sector undertakings.
Friday, November 27, 2009
Ranbaxy takes on GSK's Valtrex in US
Ranbaxy has introduced blockbuster drug Valacyclovir hydrochloride
on November 25, which may net around $200 million in revenues
during the six-month exclusivity period, as well as prop its bottomline from the fourth quarter this year itself.
The molecule represents its first major first-to-file (FTF) opportunity since the Daiichi acquisition, and its problems with US Food and Drug Administration last year. Ranbaxy’s generic Valtrex launch is on track, and comes even before GSK’s patent on the drug expires on December 23 this year.
The company holds a 180-day market exclusivity on the generic version of Valtrex, which was accorded after Ranbaxy and the innovator GSK reached a settlement in 2007. Also, it is the only generic company to market Valtrex, an anti-viral for herpes infection, during the period. (A Para IV FTF opportunity for a company ensures 180-day exclusivity in the market)
Analysts expect that the company may mop up around $200 million in sales during the six-month period, considering that there may be price erosion once the generic is launched in the market. Total market sales for Valacyclovir tablets stood at $2.2 billion (IMS MAT September, 2009).
Sources said that USFDA approval for the molecule has been granted to Ranbaxy’s US subsidiary Ranbaxy Pharmaceuticals for the product to be manufactured at Ohm Laboratories. Earlier the company had applied for approval from its domestic facility (possibly Dewas) which is facing an import ban from the FDA.
Recently Ranbaxy’s CEO and managing director Atul Sobti had told TOI in an interview that the company will protect and monetise its FTF opportunity.
When contacted a Ranbaxy offical said: “Ranbaxy Pharmaceuticals has introduced Valacyclovir Hydrochloride, 500mg and 1g tablets, having previously been granted US FDA approval for these oral dosage forms. RPI being the first to file and to successfully challenge the Valacyclovir patents, is the first generic pharmaceutical manufacturer entitled to offer an affordable alternative to the brand, Valtrex tablets by GlaxoSmithKline”.
With the launch, the company may beat its guidance of reporting a huge loss of around Rs 700 crore for the year, analysts said. For the nine-month period ended September 30, the company has already mopped a small profit of $10 million.
on November 25, which may net around $200 million in revenues
during the six-month exclusivity period, as well as prop its bottomline from the fourth quarter this year itself.
The molecule represents its first major first-to-file (FTF) opportunity since the Daiichi acquisition, and its problems with US Food and Drug Administration last year. Ranbaxy’s generic Valtrex launch is on track, and comes even before GSK’s patent on the drug expires on December 23 this year.
The company holds a 180-day market exclusivity on the generic version of Valtrex, which was accorded after Ranbaxy and the innovator GSK reached a settlement in 2007. Also, it is the only generic company to market Valtrex, an anti-viral for herpes infection, during the period. (A Para IV FTF opportunity for a company ensures 180-day exclusivity in the market)
Analysts expect that the company may mop up around $200 million in sales during the six-month period, considering that there may be price erosion once the generic is launched in the market. Total market sales for Valacyclovir tablets stood at $2.2 billion (IMS MAT September, 2009).
Sources said that USFDA approval for the molecule has been granted to Ranbaxy’s US subsidiary Ranbaxy Pharmaceuticals for the product to be manufactured at Ohm Laboratories. Earlier the company had applied for approval from its domestic facility (possibly Dewas) which is facing an import ban from the FDA.
Recently Ranbaxy’s CEO and managing director Atul Sobti had told TOI in an interview that the company will protect and monetise its FTF opportunity.
When contacted a Ranbaxy offical said: “Ranbaxy Pharmaceuticals has introduced Valacyclovir Hydrochloride, 500mg and 1g tablets, having previously been granted US FDA approval for these oral dosage forms. RPI being the first to file and to successfully challenge the Valacyclovir patents, is the first generic pharmaceutical manufacturer entitled to offer an affordable alternative to the brand, Valtrex tablets by GlaxoSmithKline”.
With the launch, the company may beat its guidance of reporting a huge loss of around Rs 700 crore for the year, analysts said. For the nine-month period ended September 30, the company has already mopped a small profit of $10 million.
Wednesday, November 25, 2009
How ideologues manipulated masses is unparalleled
The single-minded agenda of the RSS and VHP; and the extremely patient and focused manner in which the handful of ideologues and theologians manipulated the masses and turned them into a frenzied mob, capable of acts of the gravest depravity, is unparalleled.
It is established that the events of and leading up to the 6th of December in the birthplace of the virtuous Lord Ram were tainted by a joint conspiratorial enterprise... Lured by the prospect of power or wealth, a rank of leaders emerged within the BJP, RSS, VHP, Shiv Sena, Bajrang Dal, etc who were neither guided by any ideology nor imbued with any dogma nor restrained by any moral trepidation. These leaders saw the Ayodhya issue as their road to success and sped down this highway mindless of the casualties they scattered about. These leaders were the executioners wielding the sword handed to them by the ideologues.
The role played the chief minister and ministers of Uttar Pradesh and by individuals and organizations in connection with the destruction of the RJBM structure.
The BJP’s claim that it was carrying out the people’s mandate makes it inexplicable why it had to resort to subterfuge in order to effect the destruction of the disputed structure... Kalyan Singh, his ministers and his handpicked bureaucrats created manmade and cataclysmic circumstances which could result in no consequences other than the demolition of the disputed structure and broadened the cleavage between the religious communities resulting in massacres all over the country...The parallel government run by the RSS has also been exposed and analysed in my report. ... Paramhans Ramchander Das, Ashok Singhal, Vinay Katiyar, Vishnu Hari Dalmia, Vamdes, KS Sudarshan, H V Sheshadri, Lalji Tandon, Kalraj Mishra, Govindacharya and others named in my report formed this complete cartel led by Kalyan Singh and supported by the icons of the movement like Advani, Joshi and Vajpayee.
It is established that the events of and leading up to the 6th of December in the birthplace of the virtuous Lord Ram were tainted by a joint conspiratorial enterprise... Lured by the prospect of power or wealth, a rank of leaders emerged within the BJP, RSS, VHP, Shiv Sena, Bajrang Dal, etc who were neither guided by any ideology nor imbued with any dogma nor restrained by any moral trepidation. These leaders saw the Ayodhya issue as their road to success and sped down this highway mindless of the casualties they scattered about. These leaders were the executioners wielding the sword handed to them by the ideologues.
The role played the chief minister and ministers of Uttar Pradesh and by individuals and organizations in connection with the destruction of the RJBM structure.
The BJP’s claim that it was carrying out the people’s mandate makes it inexplicable why it had to resort to subterfuge in order to effect the destruction of the disputed structure... Kalyan Singh, his ministers and his handpicked bureaucrats created manmade and cataclysmic circumstances which could result in no consequences other than the demolition of the disputed structure and broadened the cleavage between the religious communities resulting in massacres all over the country...The parallel government run by the RSS has also been exposed and analysed in my report. ... Paramhans Ramchander Das, Ashok Singhal, Vinay Katiyar, Vishnu Hari Dalmia, Vamdes, KS Sudarshan, H V Sheshadri, Lalji Tandon, Kalraj Mishra, Govindacharya and others named in my report formed this complete cartel led by Kalyan Singh and supported by the icons of the movement like Advani, Joshi and Vajpayee.
Saturday, November 21, 2009
Airtel reduces roaming rates by 60%
Industry analysts feel the cut by the largest mobile service provider will put further pressure on its peers. The tariff war may now spill onto the SMS space as well as other areas like data plans, postpaid schemes, corporate plans and international roaming.
On Friday, Airtel said when a customer, who is on national roaming, makes an STD call to another Airtel number, the charge will be just 60 paise per minute, compared to Rs 1.50 earlier - a cut of 60%. Likewise, while roaming, all incoming calls will now be charged at 60 paise, down 40% from Re 1. The same rate will apply to calls to local Airtel numbers while roaming, but customers will be charged at 80 paise for each call, local as well as STD, to any other network. “Recent research has shown that customers need benefits while travelling and are not satisfied with just local calling benefits”, Bharti Airtel president (Mobile Services) Atul Bindal said in a statement.
In the last few months, most telecom providers, led by Tata DoCoMo and Reliance Communications, have cut roaming rates.
For example, Tata DoCoMo charges 2 paise per second on national roaming, while for RCom it is a flat 50 paise per minute. However, Vodafone Essar, another major player in the sector, is still to cut roaming rates.
About two months after Tata DoCoMo's 1 paise/second plan was launched and the telecom firm started clocking record number of new customers each month, most of its peers responded by offering attractive plans to retain their customers and also to attract new ones. But at the same time, sector analysts have been turning negative on the prospects of the listed telecom firms and investors have been selling these stocks.
A research report by foreign broking house Macquarie noted that the recent tariff action in the telecom sector was mainly concentrated in the prepaid voice space, but it expects further negative risks to telecom companies from tariff cuts in SMS, data plans, postpaid and corporate plans and international roaming.
On Friday, Airtel said when a customer, who is on national roaming, makes an STD call to another Airtel number, the charge will be just 60 paise per minute, compared to Rs 1.50 earlier - a cut of 60%. Likewise, while roaming, all incoming calls will now be charged at 60 paise, down 40% from Re 1. The same rate will apply to calls to local Airtel numbers while roaming, but customers will be charged at 80 paise for each call, local as well as STD, to any other network. “Recent research has shown that customers need benefits while travelling and are not satisfied with just local calling benefits”, Bharti Airtel president (Mobile Services) Atul Bindal said in a statement.
In the last few months, most telecom providers, led by Tata DoCoMo and Reliance Communications, have cut roaming rates.
For example, Tata DoCoMo charges 2 paise per second on national roaming, while for RCom it is a flat 50 paise per minute. However, Vodafone Essar, another major player in the sector, is still to cut roaming rates.
About two months after Tata DoCoMo's 1 paise/second plan was launched and the telecom firm started clocking record number of new customers each month, most of its peers responded by offering attractive plans to retain their customers and also to attract new ones. But at the same time, sector analysts have been turning negative on the prospects of the listed telecom firms and investors have been selling these stocks.
A research report by foreign broking house Macquarie noted that the recent tariff action in the telecom sector was mainly concentrated in the prepaid voice space, but it expects further negative risks to telecom companies from tariff cuts in SMS, data plans, postpaid and corporate plans and international roaming.
Friday, November 20, 2009
Sensex falls 22 points on weak global cues
Weak global cues and negative FII activity weighed on market sentiment.
The BSE barometer was quoted lower at 16,763.34 at 1015 hours, down 22.31 points or 0.13 per cent from its last close.
The broader 50-share Nifty of the National Stock Exchange also dropped by 10.50 points or 0.21 per cent to 4,978.50 at 1015 hours from its previous close.
Key stocks such as DLF were down 1.86 per cent, ICICI Bank 1.54 per cent, Reliance Infra 1.52 per cent and SBI 1.16 per cent in early trade.
The BSE barometer was quoted lower at 16,763.34 at 1015 hours, down 22.31 points or 0.13 per cent from its last close.
The broader 50-share Nifty of the National Stock Exchange also dropped by 10.50 points or 0.21 per cent to 4,978.50 at 1015 hours from its previous close.
Key stocks such as DLF were down 1.86 per cent, ICICI Bank 1.54 per cent, Reliance Infra 1.52 per cent and SBI 1.16 per cent in early trade.
Wednesday, November 18, 2009
Yellow metal sizzles to Rs 17k
Over the last one year the yellow metal has risen a whopping 42% in the Mumbai market, rising from about Rs 12,000 level a year ago to its Tuesday close at Rs 17,015. One of the main reasons for the gold's rally is the weakness of the US dollar against other currencies. Interestingly, the BSE sensex is also hovering around the 17K mark now. "There are four main factors that drive gold prices globally and at present three are leading the rally," said Jayant Manglik, president, Religare Commodities. "We expect the current rally to continue for some time. But for the strength of the rupee, by now it could have crossed the Rs 18,000 mark also," Manglik added. For one, globally gold is denominated and traded in US dollar. So any weakness of the dollar against other major currencies like Euro, British Pound and Japanese Yen, makes gold cheaper for people holding those other currencies. Secondly, gold is considered a good hedge against inflation. There are lot of people who believe the current easy money policies of most central banks would lead to inflationary situations. So these people are also betting on gold. The third factor is the low rate of interest in major economies. Since a low interest rate lead to low return if money is kept in the banks, a number of investors, looking for higher returns, prefer to invest in gold. The last major factor that drive gold prices is higher security threat, like war. But currently this factor is not influencing gold prices while the other three are having a combined effect in driving gold prices to newer peaks, market players said.
Tuesday, November 17, 2009
Essar buys Warid's operation
The combined enterprise value of Warid Telecom Uganda and Warid Telecom Congo is estimated to be $318 million.
According to sources close to the development, the Essar group has acquired 51% equity for about $160 million. Essar investment in Warid Telecom in Africa is part of its strategic plans to grow its businesses in Africa.
The agreements to this effect were on Sunday signed by Sheikh Nahyan Mabarak Al Nahyan on behalf of the Dhabi group and Prashant Ruia, group chief executive, Essar group, in Abu Dhabi.
The Essar Group has committed growth capital to both telecom operations to facilitate network expansion and marketing, a joint statement from Dhabi group and Essar group said. "Upon completion, the Essar group will acquire a majority stake in both the assets. The partnership is also expected to bring operational efficiencies to the African operations", it said.
Commenting on the development Sheikh Nahayan Mabarak Al Nahayan, chairman of Dhabi group, said, "We are pleased to join hands with a group that both complements and extends our synergies to expand further into Africa."
"Warid has expanded its greenfield operations to become credible competitors and challengers in the market where it operates; the time is now right for the next stage of its growth and evolution", Nahayan added.
Ruia said, "This transaction with the Dhabi group augments our successful launch of telecom services in Kenya under the brand 'yu' which was a stepping stone for Essar to expand its telecom footprint to the African continent." This deal is a reflection of Essar's plans to increase its presence in the Middle East and Africa regions as it explores business opportunities.
According to sources close to the development, the Essar group has acquired 51% equity for about $160 million. Essar investment in Warid Telecom in Africa is part of its strategic plans to grow its businesses in Africa.
The agreements to this effect were on Sunday signed by Sheikh Nahyan Mabarak Al Nahyan on behalf of the Dhabi group and Prashant Ruia, group chief executive, Essar group, in Abu Dhabi.
The Essar Group has committed growth capital to both telecom operations to facilitate network expansion and marketing, a joint statement from Dhabi group and Essar group said. "Upon completion, the Essar group will acquire a majority stake in both the assets. The partnership is also expected to bring operational efficiencies to the African operations", it said.
Commenting on the development Sheikh Nahayan Mabarak Al Nahayan, chairman of Dhabi group, said, "We are pleased to join hands with a group that both complements and extends our synergies to expand further into Africa."
"Warid has expanded its greenfield operations to become credible competitors and challengers in the market where it operates; the time is now right for the next stage of its growth and evolution", Nahayan added.
Ruia said, "This transaction with the Dhabi group augments our successful launch of telecom services in Kenya under the brand 'yu' which was a stepping stone for Essar to expand its telecom footprint to the African continent." This deal is a reflection of Essar's plans to increase its presence in the Middle East and Africa regions as it explores business opportunities.
Monday, November 16, 2009
Satyam scam: SFIO to begin prosecution this month
The government on Monday said the Serious Fraud Investigation Office (SFIO) will begin prosecution into the Satyam scam this month.
He said the agency is "dutifully and diligently" pursuing what it is supposed to do in the Satyam case.
The SFIO, an arm of the corporate affairs ministry, had investigated the multi-crore rupee Satyam accounting fraud and submitted its reports to the government detailing violations of company law by founder chairman B Ramalinga Raju and others.
The investigating agency will initiate proceedings on about 30 charges, mostly under the Companies Act of 1956, while the Central Bureau of Investigation (CBI) will be acting on five or six charges involving criminal offences under the penal code, sources said.
The corporate affairs ministry had asked the SFIO to initiate prosecution in the Satyam case after obtaining opinion of the solicitor general, sources said.
"During this month, the SFIO will begin the prosecution on those or those areas of company laws that the SFIO is expected to and have been authorised to proceed with," corporate affairs minister Salman Khurshid told a press conference here.
He said the agency is "dutifully and diligently" pursuing what it is supposed to do in the Satyam case.
The SFIO, an arm of the corporate affairs ministry, had investigated the multi-crore rupee Satyam accounting fraud and submitted its reports to the government detailing violations of company law by founder chairman B Ramalinga Raju and others.
The investigating agency will initiate proceedings on about 30 charges, mostly under the Companies Act of 1956, while the Central Bureau of Investigation (CBI) will be acting on five or six charges involving criminal offences under the penal code, sources said.
The corporate affairs ministry had asked the SFIO to initiate prosecution in the Satyam case after obtaining opinion of the solicitor general, sources said.
Saturday, November 14, 2009
Bid to hike CNG price may raise transport cos
Public transport running on CNG (compressed natural gas) in cities such as Delhi and Mumbai as well as power is set to get costlier if
the government approves an oil ministry proposal to raise the price of gas under government control by as much as 33%.
Since gas under government control fuels most gas-fired power generation and CNG services, their costs will rise proportionately. Present norms allow power producers to pass on the fuel cost to consumers. The hike in city transport, however, could be moderated by the service providers such as IGL in Delhi and MGL in Mumbai who could absorb part of the increase.
Official sources said the proposal, being prepared for consideration of the cabinet, envisages raising the price of controlled gas from Rs 3,200 per thousand cubic metres ($1.8 per unit) to Rs 4,250 per thousand cubic metres ($2.4 per mBtu) in the first round. Subsequently, it is to be raised to Rs 7,500 per thousand cubic metres ($4.2 per unit) by 2013 in stages.
Government controls the price of gas from fields given to state-run explorers without bidding. Gas from joint venture fields and the quantity bought and marketed by GAIL is market-driven and costs between $4.3 and $5.65 per unit. Next is imported LNG and finally gas from Andhra offshore field of Reliance Industries Ltd.
A ministerial panel had set $4.2 per unit as the price for RIL gas and the Planning Commission wants this to be the benchmark for pricing gas from all domestic sources. The increase in the price of controlled gas is also in line with a 2005 Tariffs Commission recommendation. Prices were last revised in 2005.
State explorers ONGC and Oil India will be the main beneficiaries. ONGC alone could mop up an additional Rs 2,000 crore per year. Producer price for ONGC is proposed at Rs 3,870 per thousand cubic metres from Rs 3,200. The consumer price would be 10% higher. The government too will garner Rs 750 crore more by way of taxes and royalty in the current year. This would rise to Rs 4,500 crore in 2013 when prices are brought at par with RIL's price.
Sources said consumer price for power and fertilizer units outside north-east would be fixed at 10% above the producer price, while for the plants in that region it would be 60% of the price. Consumer price for transport and small consumers outside north-east may be fixed at 20% above the price for power and fertilizer sectors.
Since gas under government control fuels most gas-fired power generation and CNG services, their costs will rise proportionately. Present norms allow power producers to pass on the fuel cost to consumers. The hike in city transport, however, could be moderated by the service providers such as IGL in Delhi and MGL in Mumbai who could absorb part of the increase.
Official sources said the proposal, being prepared for consideration of the cabinet, envisages raising the price of controlled gas from Rs 3,200 per thousand cubic metres ($1.8 per unit) to Rs 4,250 per thousand cubic metres ($2.4 per mBtu) in the first round. Subsequently, it is to be raised to Rs 7,500 per thousand cubic metres ($4.2 per unit) by 2013 in stages.
Government controls the price of gas from fields given to state-run explorers without bidding. Gas from joint venture fields and the quantity bought and marketed by GAIL is market-driven and costs between $4.3 and $5.65 per unit. Next is imported LNG and finally gas from Andhra offshore field of Reliance Industries Ltd.
A ministerial panel had set $4.2 per unit as the price for RIL gas and the Planning Commission wants this to be the benchmark for pricing gas from all domestic sources. The increase in the price of controlled gas is also in line with a 2005 Tariffs Commission recommendation. Prices were last revised in 2005.
State explorers ONGC and Oil India will be the main beneficiaries. ONGC alone could mop up an additional Rs 2,000 crore per year. Producer price for ONGC is proposed at Rs 3,870 per thousand cubic metres from Rs 3,200. The consumer price would be 10% higher. The government too will garner Rs 750 crore more by way of taxes and royalty in the current year. This would rise to Rs 4,500 crore in 2013 when prices are brought at par with RIL's price.
Sources said consumer price for power and fertilizer units outside north-east would be fixed at 10% above the producer price, while for the plants in that region it would be 60% of the price. Consumer price for transport and small consumers outside north-east may be fixed at 20% above the price for power and fertilizer sectors.
Friday, November 13, 2009
AI gets Rs 2000cr lifeline
The cash-strapped Maharaja will not go bankrupt, at least for now. The government on Thursday agreed to inject Rs. 2,000 crore in
this fiscal in a phase-wise manner of Rs 400 crore per month, subject to the airline cuts costs and increases revenue. The Pranab Mukherjee-headed Group of Ministers (GoM) met on Thursday and decided to do a monthly review of AI's performance before giving the next tranche of Rs 400 crore.
Without a bailout, the AI-IA combine — that has a monthly cash loss of Rs 400 crore — may not have survived beyond this year. The aviation ministry was eying Rs 5,000 crore and Rs 9,000 crore as equity infusion and aircraft purchase assistance over next three years. But the GoM has for now agreed to recommend to the Union Cabinet phase-wise infusion of fund till March 2010. Future funding will be decided on AI's progress card.
GoM's biggest worry was how deep-in-red AI would fund the Rs 55,000 crore order to acquire 111 new aircraft. The civil aviation ministry pointed out that AI-IA combine's aircraft order size has been halved in value terms.
"Out of the 111 new planes, 50 were wide body aircraft that accounted for over 65% of the total bill. Of these big ones, 27 Boeing 787 Dreamliners are nowhere on radar as they are yet to fly. Delivery of three Boeing 77 have been deferred to 2013 and three of them — already with AI — are being leased out. So, the aircraft order in terms of monetary value has been halved with these 33 twin aisle planes out of the radar," said sources.
Both Mukherjee and Chidamabaram are learnt to have been sceptical of AI's tall claims on revenue and cost fronts. "Employees must know this money has not come easily and focus on cost-cutting has to remain," they are learnt to have told Patel and the AI management. Patel told TOI: "A number of steps will be taken to cut costs by rationalising routes and leasing aircraft. Cutting salaries is not the only way to cut costs and the management must look at all other means very closely. There is no room for complacency as fund infusion is closely linked to achieving success on cost cutting and revenue generation."
The GoM is also learnt to have promised Arvind Jadhav, CMD, certain degree of freedom to take tough decisions without any interference. In a previous GoM, Chidambaram had questioned the accountability of bureaucrats who headed AI in the past and presided over its decline.
"By early January, a number of tough steps will be taken. This will be in terms of cutting loss-making routes and instilling discipline," said highly-placed sources. AI loses Rs 3,000 crore on 30-odd routes alone and most of them could be closed.
Without a bailout, the AI-IA combine — that has a monthly cash loss of Rs 400 crore — may not have survived beyond this year. The aviation ministry was eying Rs 5,000 crore and Rs 9,000 crore as equity infusion and aircraft purchase assistance over next three years. But the GoM has for now agreed to recommend to the Union Cabinet phase-wise infusion of fund till March 2010. Future funding will be decided on AI's progress card.
GoM's biggest worry was how deep-in-red AI would fund the Rs 55,000 crore order to acquire 111 new aircraft. The civil aviation ministry pointed out that AI-IA combine's aircraft order size has been halved in value terms.
"Out of the 111 new planes, 50 were wide body aircraft that accounted for over 65% of the total bill. Of these big ones, 27 Boeing 787 Dreamliners are nowhere on radar as they are yet to fly. Delivery of three Boeing 77 have been deferred to 2013 and three of them — already with AI — are being leased out. So, the aircraft order in terms of monetary value has been halved with these 33 twin aisle planes out of the radar," said sources.
Both Mukherjee and Chidamabaram are learnt to have been sceptical of AI's tall claims on revenue and cost fronts. "Employees must know this money has not come easily and focus on cost-cutting has to remain," they are learnt to have told Patel and the AI management. Patel told TOI: "A number of steps will be taken to cut costs by rationalising routes and leasing aircraft. Cutting salaries is not the only way to cut costs and the management must look at all other means very closely. There is no room for complacency as fund infusion is closely linked to achieving success on cost cutting and revenue generation."
The GoM is also learnt to have promised Arvind Jadhav, CMD, certain degree of freedom to take tough decisions without any interference. In a previous GoM, Chidambaram had questioned the accountability of bureaucrats who headed AI in the past and presided over its decline.
"By early January, a number of tough steps will be taken. This will be in terms of cutting loss-making routes and instilling discipline," said highly-placed sources. AI loses Rs 3,000 crore on 30-odd routes alone and most of them could be closed.
Thursday, November 12, 2009
AI scraps performance incentives
Air India on Wednesday decided to drastically cut the salaries of its top management — functional and executive directors. The
performance-linked incentive (PLI) component of their pay, which accounts for 60% to 80% of the total package, has been completely scrapped for those on board on deputation from the government. The 36 AI-IA directors used to get anywhere between Rs 55,000 and Rs 5.2 lakh as PLI every month.
Airline employees who have made it to the board after years of service will face a huge cut in PLI as this has now been brought within department of public enterprise guidelines under which PLI can't be more than half of the salary. For instance, the ED (operations) has a basic salary of Rs 73,240 with a monthly PLI of Rs 521,425.
Similarly, ED (engineering) has a salary of Rs 76,169 and a monthly PLI of Rs 162,529. Now following Wednesday's board decision — taken amid stiff opposition from directors, PLIs can't be more than half the salary which would mean a knock of almost Rs 4.9 lakh and Rs 1.2 lakh per month for the EDs operation and engineering. The non-technical board members used to get a PLI of under a lakh which would also get slashed.
"Government nominees on board who are ex-officio there don't get any PLI. IAS and IPS officers sent on deputation there like director (vigilance) will henceforth not get any PLI at all. If the CMD happens to be an IAS or IPS posted there, he or she will also not get any PLI," said a top board member.
This move has left directors fuming. "We'll now get less than many of our juniors. Our take-home was under a lakh after deductions and now it will be almost half that amount. The airline could not touch pilots' PLIs as they can ground the airline with a strike," said an angry board member. Another board member said: "The airline's morale has never been lower. People right from top to bottom now wonder if this is being done deliberately to cover up for ministry's mistakes like merger and huge aircraft orders for which we are being made scapegoats," the member said.
Importantly, the move has come just a day before Pranab Mukherjee-headed Group of Ministers (GoM) meets to decide on the issue of funding AI. The ministry is seeking Rs 5,000 crore and Rs 9,000 crore as equity infusion and aircraft purchase assistance from the government over next three years. But the GoM told AI clearly that it had to make progress on wage cut front to get any money.
Airline employees who have made it to the board after years of service will face a huge cut in PLI as this has now been brought within department of public enterprise guidelines under which PLI can't be more than half of the salary. For instance, the ED (operations) has a basic salary of Rs 73,240 with a monthly PLI of Rs 521,425.
Similarly, ED (engineering) has a salary of Rs 76,169 and a monthly PLI of Rs 162,529. Now following Wednesday's board decision — taken amid stiff opposition from directors, PLIs can't be more than half the salary which would mean a knock of almost Rs 4.9 lakh and Rs 1.2 lakh per month for the EDs operation and engineering. The non-technical board members used to get a PLI of under a lakh which would also get slashed.
"Government nominees on board who are ex-officio there don't get any PLI. IAS and IPS officers sent on deputation there like director (vigilance) will henceforth not get any PLI at all. If the CMD happens to be an IAS or IPS posted there, he or she will also not get any PLI," said a top board member.
This move has left directors fuming. "We'll now get less than many of our juniors. Our take-home was under a lakh after deductions and now it will be almost half that amount. The airline could not touch pilots' PLIs as they can ground the airline with a strike," said an angry board member. Another board member said: "The airline's morale has never been lower. People right from top to bottom now wonder if this is being done deliberately to cover up for ministry's mistakes like merger and huge aircraft orders for which we are being made scapegoats," the member said.
Importantly, the move has come just a day before Pranab Mukherjee-headed Group of Ministers (GoM) meets to decide on the issue of funding AI. The ministry is seeking Rs 5,000 crore and Rs 9,000 crore as equity infusion and aircraft purchase assistance from the government over next three years. But the GoM told AI clearly that it had to make progress on wage cut front to get any money.
Wednesday, November 11, 2009
7 years ban for Pyramid Saimira
Market regulator Sebi on Tuesday banned Pyramid Saimira Theatre Ltd (PSTL) for seven years from accessing capital markets. It charged The order, issued by M S Sahoo, wholetime member, Sebi, said, "PSTL aided and abetted the seven persons to corner shares of PSTL under the employee category to the detriment of the common investors". Reacting to the order, P S Saminathan, chairman of PSTL, told The Times of India, "this (the order) is ridiculous and arbitrary decision without any reason. We will definitely appeal against this order." | ||
Saturday, November 7, 2009
Birlas to foray into hotel industry
For the first time in their close to 100-year history, the Birlas are entering the hospitality arena. The Birla Group- a part of
corporate folklore in the country, along with the Tatas - is going to set up its first hotel on a closed mill plot in Mumbai.
Although the Birla empire - spread across the various family groupings (BK, AVB, KK, CK, SK, Yash and MP Birla groups) - pretty much covers the entire business spectrum, from textiles, metals and cement to automobiles, tea, IT and media, the Birlas had never tried their hand in the hotel arena.
Basant Kumar Birla, the oldest member of the Birla family, told TOI that his group has decided to set up a luxury hotel near Worli, in south Mumbai, on unutilised land belonging to Century Textiles & Industries. "We will not run the hotel. Five big groups from India and abroad have approached us for managing it. We will get a fee, which will be revised every three years," Birla said.
The group may also use the land for commercial real estate, the industry doyen said. "We want to optimise the value of the land belonging to Century Textiles. The value will appreciate if we develop it. We will not sell the land. The company will return 15-20% of the land to the state government, as per rules, and the rest will be developed," he added.
Century Textiles senior president R K Dalmiya said the mill has been shut since 2006. "All the mills in the area are closed for environmental or other reasons. The mill occupies 40 acres, of which we own 30 acres. The balance is lease-hold land for which the group has an existing 999-year lease with the Wadia Group," he said, adding that a Singapore-based architectural firm has been appointed as adviser for the hotel project.
Century Textiles has already set up an advanced greenfield textile mill with an investment of Rs 850 crore at Bharuch in Gujarat. The mill was inaugurated by Gujarat chief minister Narendra Modi in the presence of B K Birla and his grandson Kumar Mangalam Birla (chairman of AV Birla Group) in October. "The new mill alone will take care of most of our requirements," Dalmiya said.
Although the Birla empire - spread across the various family groupings (BK, AVB, KK, CK, SK, Yash and MP Birla groups) - pretty much covers the entire business spectrum, from textiles, metals and cement to automobiles, tea, IT and media, the Birlas had never tried their hand in the hotel arena.
Basant Kumar Birla, the oldest member of the Birla family, told TOI that his group has decided to set up a luxury hotel near Worli, in south Mumbai, on unutilised land belonging to Century Textiles & Industries. "We will not run the hotel. Five big groups from India and abroad have approached us for managing it. We will get a fee, which will be revised every three years," Birla said.
The group may also use the land for commercial real estate, the industry doyen said. "We want to optimise the value of the land belonging to Century Textiles. The value will appreciate if we develop it. We will not sell the land. The company will return 15-20% of the land to the state government, as per rules, and the rest will be developed," he added.
Century Textiles senior president R K Dalmiya said the mill has been shut since 2006. "All the mills in the area are closed for environmental or other reasons. The mill occupies 40 acres, of which we own 30 acres. The balance is lease-hold land for which the group has an existing 999-year lease with the Wadia Group," he said, adding that a Singapore-based architectural firm has been appointed as adviser for the hotel project.
Century Textiles has already set up an advanced greenfield textile mill with an investment of Rs 850 crore at Bharuch in Gujarat. The mill was inaugurated by Gujarat chief minister Narendra Modi in the presence of B K Birla and his grandson Kumar Mangalam Birla (chairman of AV Birla Group) in October. "The new mill alone will take care of most of our requirements," Dalmiya said.
Friday, November 6, 2009
Jet, Kingfisher hike fuel surcharge, SpiceJet too may follow
The hike comes into force with immediate effect, both said. "Effective today, the fuel surcharge levied by Kingfisher Airlines for travel on domestic sector stands revised upward," a Kingfisher Airlines statement said. The fuel surcharge on flights below 1,000 kilometres has been hiked by Rs 100 while for flights above 1,000 kilometres it would be Rs 200, the statement said. A Jet Airways spokesperson said, "We have increased the fuel surcharge by up to Rs 200 on all our domestic flights across Jet Airways, JetLite and Jet Konnect with immediate effect." Budget carrier SpiceJet said that it was mulling a similar hike to partially offset increasing operating costs. "We are contemplating a nominal Rs 100-200 increase to partially offset the recent nine per cent increase in fuel price," SpiceJet's Chief Executive Officer Sanjay Aggarwal said.
Thursday, November 5, 2009
After call charges, SMS rates may be next to tumble
Paying 50 paise to Re 1 per SMS, depending on your package? Well, the cost to your mobile service provider of delivering message This revelation not only belies claims that India has among the lowest telecom tariffs in the world, it could also set the stage for SMS rates to fall sharply. Voice calls are already being offered at 1 paisa per second. As new entrants flood into the market, SMS tariffs could become the next major frontier of the pricing war now raging in the Indian mobile services industry. SMS and other value-added services form 10% of the Indian telecom industry's annual Rs 1 lakh crore-plus revenues. The current regime followed by telecom operators is `bill and keep'. This means your operator keeps the entire amount that he bills you for the SMS and pays nothing to the network on which the SMS is sent. This is for two reasons. First, the proportion of traffic across networks is roughly equal, and second, the cost of termination is negligible. Trai has so far refused to regulate SMS tariffs along with some other tariffs under what is known as forbearance. Forbearance is usually adopted by regulators when they believe that competitive markets are working and tariffs reflect true costs. As it turns out, the true cost of sending an SMS would never have come to light if new entrants had not been forced to sign interconnection agreements with existing operators at a price that is far higher than the actual cost. Several potential new entrants told TOI this points to a clear need for immediate regulatory intervention. If the price of sending an SMS reflects true costs, it should fall to no more than a few paise, they point out. While telecom minister A Raja has been talking about reducing telecom tariffs by bringing in new competition, it is ironic that factors driving telecom tariffs are coming to light due to infighting between existing operators and due to lack of pro-active regulation. Bejon Misra, chairman, CCEA or Cell for Consumer Education & Advocacy told TOI, "Recent developments have shown that India's claim of having the world's lowest tariffs is not true. Trai must promptly intervene to prevent cartelisation by incumbents aimed at defeating the interests of consumers by preventing cost-based tariffs." Predictably, the Cellular Operators Association of India (COAI) has a different view. Speaking to TOI, its acting director general T R Dua said, "Trai has followed forbearance and that should remain its policy." Several incumbents refused to comment on the true costs of terminating an SMS but admitted to the existence of a big margin. Stein-Erik Vellan, MD of Unitech Wireless, told ToI, "The lack of cost-based Interconnection Usage Charge (IUC) is perhaps the most significant anti-competitive practice that is hindering free and fair competition. It needs to be overhauled. The regulator made an exception to its policy of forbearance in the spirit of fair play when it intervened earlier to reduce IUC charges for voice calls from 30 paise to 20 paise. Trai must undertake a similar regulatory intervention to create a level playing field in the industry". Unitech Wireless may be among the first new entrants to launch service in December. As more new entrants prepare for launch, Trai may have no choice left but to intervene. A senior Trai official admitted to TOI that the last review in March had not included a new tariff policy for SMS. "However, new operators have to survive and flourish so we will need to intervene if they complain to ensure a level playing field," he said. Experts and consumer activists, however, argue that given Trai's own cost data from its IUC regulation of August 2006 vintage, it need not wait for complaints but should act decisively and immediately. |
Saturday, October 31, 2009
Airtel joins tariff war; introduces pay-per-second plan
In this plan, called Freedom Plan, Airtel customers will be charged one paise per second for all Local and STD calls to Airtel numbers and 1.20 paise per second for local and STD calls to other networks. Some of the new operators, however, are offering pay per second tariff plan across networks. The plan will be available initially only to pre-paid subscribers of Airtel, an Airtel statement said. This will be one of the tariff plans besides others already existing. "As the undisputed leader in the Indian telecom industry, we are committed to delighting our customers through superior network, great customer service and best value for money. Today, our network covers 110 million customers, has 100,000 sites and is available across 4.25 lakh towns and villages in 1.5 million outlets," Atul Bindal, President, Mobile Services, Bharti Airtel, said. | |
Friday, October 30, 2009
A jab that cures snoring in two minutes
The "snoreplasty" involves injecting a chemical called sodium tetradecyl into the roof of the mouth -- the two-minute treatment eases snoring by stopping the soft tissue at back of the mouth from vibrating, the 'Daily Mail' reported. In fact, the scientists led by Dr Hadi Al-Jassim, have treated 400 patients in Liverpool with the new injection as an alternative to painful surgery. "As everyone knows, snoring can cause major problems for patients and in particular their partners. In most cases it's the men who snore and their partners suffer sleep deprivation and at the end of the day you have to keep your partner happy -- though women do snore as well. "It causes all sorts of problems between partners and leads to marital, social and health problems. I am delighted with the treatment because, until this, there has been no effective treatment other than surgery," Dr Al-Jassim of Southport and Ormskirk NHS Trust was quoted as saying. The jab costs just three pounds.
Thursday, October 29, 2009
Balancing act? Did mom plan field for Mukesh, cheap gas for Anil: SC
"The KG basin gas fields were joint assets. So, when the division took place, there appears to be some balancing done by the mother - RIL kept the gas field assets and the other son got gas supply at a lower price to make profit by selling it. Otherwise, how do you explain the MoU or whatever scheme that was worked out as per MoU promising gas at NTPC rate," the court asked RIL counsel Harish Salve. Notwithstanding a quick clarification that it understood RIL's argument - the MoU between two shareholders could not bind the board of directors - a Bench comprising Chief Justice K G Balakrishnan and Justices R V Raveendran and P Sathasivam asked, "What is the backdrop of the demerger and division?" Salve explained that RIL was still willing to give gas to Anil Ambani's RNRL at the price of $2.34 per unit, the price committed to NTPC after global tendering. "But what RNRL refuses to read is that RIL's commitment was always with a caveat that supply of gas to NTPC at $2.34 was subject to government approval," he said and accused RNRL of cherry picking the best of the clauses from the MoU, gas supply master agreement and the production sharing contract. He said, "The consistent stand of RIL was that gas price is subject to government approval. The government does not equate RNRL with NTPC saying the latter is a PSU and hence completely different from RNRL." The Bench said, "If that is the case, then there is no need of a fight between the brothers. They should actually be fighting against the government on issues." Salve said if the government approved a price of $4.20, then it would hardly be a suitable agreement for RIL to supply gas at $2.34 to RNRL. "Where it hurts is that RIL is not being able to supply gas to its captive plant even at $4.20 because of the prioritisation of supply to core sectors by the government through the gas utilisation policy (GUP)," he added. Salve said the MoU, far from stating that government approval was irrelevant, provided that both groups would work jointly for getting approvals. He said there had been a sea change in the scenario after the MoU as government came out with GUP taking away the marketing freedom from RIL and many other decisions taken by the EGoM having a vital bearing on gas supply. "The structure of transaction in MoU is unsurprisingly at variance with the structure of demerger. The principle is that the final agreement is what matters, nothing else, not the background," Salve said. | |
Wednesday, October 28, 2009
New Indo-Nepal trade treaty comes to life
India’s Commerce and Industry Minister Anand Sharma and his Nepali counterpart Rajendra Mahato Tuesday signed a new bilateral trade treaty in Kathmandu, which comes into effect immediately offering an upgraded seven-year pact with proviso for automatic renewal every seven years, cutting down red tape and opening a new port as well as land and air routes to Nepal.
“The new treaty retains all the positive aspects of the old treaty,” Sharma said, referring to the earlier 1996 trade treaty that saw bilateral trade reach Rs. 204.8 billion in 2008-09 from Rs. 28.1 billion in 1995-96. In the same period, Nepal’s exports to India increased from Rs. 3.7 billion Rs. 40.9 billion while Indian exports grew from Rs. 24.4 billion to Rs. 163.9 billion.
Sharma said the new treaty will have a seven-year validity instead of the earlier five years and will be extended automatically every seven years, creating a “stable framework for bilateral trade and investment”.
The cumbersome Duty Refund Procedure has been scrapped to provide Nepal a direct control on the customs duty revenues on import of manufactured goods from India. Besides the Calcutta Port, Nepal can now also avail of the Vishakhapatnam port while four additional land customs stations will be established to facilitate bilateral trade.
Also, for the first time, bilateral trade will be allowed by air through international airports connected by direct flights between Nepal and India (Kathmandu/Delhi, Mumbai, Kolkata and Chennai).
The two ministers also signed an Agreement of Cooperation to Control Unauthorized Trade that will allow export of goods imported by Nepal from India to the third countries without the necessity of carrying out any manufacturing activity in Nepal. This will enhance exports from Nepal to third countries where it has a better market access as compared to India.
India has also agreed to allow Nepal access to the Banglabandh port through Indian territory, allow items like rice, wheat and sugar to be sent to Nepal at a time they are not allowed to be exported to other countries and will authorize the export about 50,000 tonne of fertilizer.
Sharma said India is appreciative of the steps Nepal’s people have taken to strengthen democracy in the Himalayan nation and sought stability, progress and welfare in the neighbouring country.
Asked what India hoped to gain from the new treaty, Sharma said in would lead to increased economic growth which would in turn lead to greater stability and greater opportunities for the young people of Nepal.
“That would be to India’s benefit,” he said.
“The new treaty retains all the positive aspects of the old treaty,” Sharma said, referring to the earlier 1996 trade treaty that saw bilateral trade reach Rs. 204.8 billion in 2008-09 from Rs. 28.1 billion in 1995-96. In the same period, Nepal’s exports to India increased from Rs. 3.7 billion Rs. 40.9 billion while Indian exports grew from Rs. 24.4 billion to Rs. 163.9 billion.
Sharma said the new treaty will have a seven-year validity instead of the earlier five years and will be extended automatically every seven years, creating a “stable framework for bilateral trade and investment”.
The cumbersome Duty Refund Procedure has been scrapped to provide Nepal a direct control on the customs duty revenues on import of manufactured goods from India. Besides the Calcutta Port, Nepal can now also avail of the Vishakhapatnam port while four additional land customs stations will be established to facilitate bilateral trade.
Also, for the first time, bilateral trade will be allowed by air through international airports connected by direct flights between Nepal and India (Kathmandu/Delhi, Mumbai, Kolkata and Chennai).
The two ministers also signed an Agreement of Cooperation to Control Unauthorized Trade that will allow export of goods imported by Nepal from India to the third countries without the necessity of carrying out any manufacturing activity in Nepal. This will enhance exports from Nepal to third countries where it has a better market access as compared to India.
India has also agreed to allow Nepal access to the Banglabandh port through Indian territory, allow items like rice, wheat and sugar to be sent to Nepal at a time they are not allowed to be exported to other countries and will authorize the export about 50,000 tonne of fertilizer.
Sharma said India is appreciative of the steps Nepal’s people have taken to strengthen democracy in the Himalayan nation and sought stability, progress and welfare in the neighbouring country.
Asked what India hoped to gain from the new treaty, Sharma said in would lead to increased economic growth which would in turn lead to greater stability and greater opportunities for the young people of Nepal.
“That would be to India’s benefit,” he said.
Tuesday, October 27, 2009
'India has become an important global player'
The strategy reflects Norway’s increased focus on India. One of the new instruments is an India research programme in the Norwegian Research Council. We want to forge multiple and close links between institutions of research and higher education in India and Norway. Norway is keen to pursue a knowledge-based policy towards India. We have established an India Forum in Norway in order to further strengthen collaboration between the public and the private sector, academia, NGOs and cultural actors. What is the rationale behind it? With its strong economic growth over the last 20 years, the dynamic development of its political system, and the world’s second largest population, India has become an increasingly important global player. Co-operation between Norway and India is in a dynamic phase. It has changed from traditional development assistance, which started in the 1950s to today’s modern political dialogue, institutional co-operation, commercial engagement and catalytic efforts in selected areas of societal development. What are the focus areas? The main objectives include further strengthening of co-operation on societal issues and research between Norway and India. The ministry of education and research has a strong focus on the higher education and research co-operation through the follow-up of the Science and Technology Agreement between India and Norway (from 2006) and the Memorandum of Understanding (MoU) on Co-operation in the Field of Education between India and Norway (from 2008). We have recently had meetings with our Indian counterparts under the two agreements. These discussions make a good basis for future higher education and research co-operation between the two countries. Will there be any exchange programmes for Indian and Norwegian scholars? The strategy introduces a programme to be administered by the Research Council of Norway, to promote research co-operation between India and Norway in certain priority areas. This programme will provide additional resource, help to ensure stability and a long-term approach, and also provide incentives for co-operation on regional challenges in South Asia. The strategy will also facilitate exchange of students and researchers.
Monday, October 26, 2009
"Hyperspectral Remote Sensor" that can spot disasters
An omniscient eye in the sky can spot natural and man-made disasters, give advance warning about forest fires, water contamination or A new Tel Aviv University (TAU) technology combines sophisticated sensors in orbit with ground based sensors to create a "Hyperspectral Remote Sensor" (HRS). Eyal Ben-Dor, geography professor at TAU, describes his team's HRS technology as a combination of physical, chemical and optical disciplines. Today, it can take years before authorities can detect chemicals that can compromise our health. For example, about 90 percent of all petrol stations leak contaminants into the soil, says Ben-Dor. The HRS simultaneously acquires hundreds of optical images, each from a different frequency, that enable a "spectral assessment" from distances high in the air via airplanes and in orbit using satellites. This raw data is then processed by Ben Dor and his team to yield sophisticated thematic maps. "These are not regular maps at all," says Ben-Dor. "We are combining properties from the physical, chemical and optical worlds, using all the latest technologies available from these fields. Ours is one of a few leading teams in the world exploring this novel way of mapping earth." His new HRS can monitor gas stations and identify problematic areas. "Our space sensors combined with ground measurements and GPS data will be able to detect and map hydrocarbon contamination in real time. Within a year, we'll be able to identify these problematic areas far more quickly than with traditional methods," he says. It can also indicate where water runoff should be directed and what minerals may be lacking in a given parcel of land, says a TAU release. "Water is an expensive commodity today," says Ben Dor. "Knowing how to better manage water resources is a top priority for states like California, and our new tool could help them do that." Details were published in journals like Soil Science Society of America Journals, Soil Science Journal and the International Journal of Remote Sensing. | ||
Saturday, October 24, 2009
Average temperatures not increased for last 11 years: Research
Amid stepped up efforts to curb global warming, a recent research has revealed that average temperatures have not increased for over a
decade. Average temperatures have not increased for over a decade and the warmest year recorded globally was not in 2008 or 2007, but in 1998, according to a research published by the Royal Society. For the last 11 years we have not observed any increase in global temperatures and our climate models did not forecast it, even though man-made carbon dioxide, the gas thought to be responsible for warming our planet, has continued to rise, it said. Climate change skeptics argue that there are natural cycles, over which we have no control, that dictate how warm the planet is. But what is the evidence for this? During the last few decades of the 20th Century, our planet did warm quickly but a the research has ruled out solar influences on increase in temperature, a BBC report said. "Warming in the last 20 to 40 years can't have been caused by solar activity," said Dr Piers Forster from Leeds University, a leading contributor to this year's Intergovernmental Panel on Climate Change (IPCC). The scientists' main approach was simple: to look at solar output and cosmic ray intensity over the last 30-40 years, and compare those trends with the graph for global average surface temperature.
decade. Average temperatures have not increased for over a decade and the warmest year recorded globally was not in 2008 or 2007, but in 1998, according to a research published by the Royal Society. For the last 11 years we have not observed any increase in global temperatures and our climate models did not forecast it, even though man-made carbon dioxide, the gas thought to be responsible for warming our planet, has continued to rise, it said. Climate change skeptics argue that there are natural cycles, over which we have no control, that dictate how warm the planet is. But what is the evidence for this? During the last few decades of the 20th Century, our planet did warm quickly but a the research has ruled out solar influences on increase in temperature, a BBC report said. "Warming in the last 20 to 40 years can't have been caused by solar activity," said Dr Piers Forster from Leeds University, a leading contributor to this year's Intergovernmental Panel on Climate Change (IPCC). The scientists' main approach was simple: to look at solar output and cosmic ray intensity over the last 30-40 years, and compare those trends with the graph for global average surface temperature.
Saturday, October 10, 2009
BA offers $40 round trip US- India fare by mistake, cancels tickets
It was a deal -- a steal! -- too good to be true. It really was.
Regulars on the US-India flight route erupted in joy last week when British Airways offered, erroneously as it turned out, a $40 round-trip fare (plus taxes, fees and surcharge) from any city in the US to any destination in India. Scores of eager beaver flyers snagged the tickets in the two-hour window on October 2, before BA realized its error and shut down the offer, even as word about the Gandhi Jayanti gift sped through the desi bush telegraph. Now BA says it cannot honor the tickets because it was a systems' glitch. The airline claims it was actually filing for a $40 increase in fares between US and India and somewhere down the line the plus sign got knocked off. "As these fares were so clearly below the normal fare levels, British Airways is unable to honor these bookings," the airline said in an e-mail to travel agents. "We have cancelled all affected bookings made during this two-hour window, and will make a full refund for any paid for and issued ticket." Not so fast, say furious customers. Many of them say they have made other onward bookings and plans. Some dumped other airlines and tickets, incurring a cancellation fee, to pile on the BA bonanza. Besides, say some customers, the $40 fare tag is misleading. "What they're leaving out is that taxes and fees amount to $530+. So sure it is a good deal, but not a give-away by any means," one buyer wrote to the LA Times travel blog, which first broke the story. Others said they paid between $600 to $700 including taxes, fees, and surcharge, and insist BA should honor the deal. On Friday, BA budged just a bit, offering a $ 300 discount on a future BA fare to India in addition to the full refund. In its e-mail to travel agents, the airline apologized for the error and said refunded customers could get an additional $300 off "any published retail World Traveller fare from the US to India when booked between now and Nov. 12, 2009." It said the offer was valid for travel through Sept. 30, 2010. It remains to be seen if buyers are pacified. The public relations fiasco underlines the steady decline of European airlines and against emerging Gulf and eastern carriers for the US-India market, even as state-owned Air India is flailing around. For the longest time, European carriers such as BA, KLM, Air France and Lufthansa have had a run of the US-India route, especially from the East Coast, with transit through European hubs. But now gulf carriers such as Qatar Airways and Emirates are muscling into the market, enticing Indian flyers to fly through the Doha and Dubai, instead of through London, Paris, Amsterdam, Frankfurt etc. Commencing Sunday, Qatar Airways will begin a direct service four times a week from its Doha base to Amritsar, allowing a wide base of Sikhs/Punjabi diaspora in North America (where it flies direct to Washington DC, Houston/Dallas among other cities), Europe, Africa and the Gulf/West Asia region to make their Golden Temple pilgrimage expeditiously. The airline, which already flies from Doha to eight other cities in India, will also begin a Doha-Goa service on October 25, making it one of the "best spread" foreign airlines in India. Qatar flies directly non-stops from Doha to Delhi, Mumbai, Kolkata, Hyderabad, Thiruvananthapuram, Kochi, Kozhikode. A Doha-Bangalore flight is next in line. Likewise, its Gulf rival Emirates (over which Qatar brags a five-star rating) offers a several connections into Indian cities for Indian expats flying in from U.S. Many flyers from the US prefer a 13-hour first leg to Gulf hubs (allowing eight hours of sleep) which brings them within 3-4 hours to India, rather than the approximately 7 hour-9 hour split while flying from US to India via Europe. Not surprisingly, all six airlines which have a Skytrax five-star rating (Qatar, Kingfisher, Cathay Pacific, Asiana, Singapore and Malaysia) are Asian, with no European or American airline making the grade. Crisis ridden Air India meanwhile is trying to retrieve the situation in a U.S market where it has poor ratings. Starting December 1, India's sarkari airline is going to meet a long standing demand from passengers in the Washington DC region to connect directly to New Delhi. "Direct" but not non-stop, since the flight will be a Washington DC--New York--New Delhi-Kolkata shuttle. The current New York-Delhi non-stop is just getting an extension at both ends. Still, it's the first step in directly linking the two capitals with the same aircraft. There are already Washington DC-Tokyo and Washington DC-Beijing direct non-stops.
Regulars on the US-India flight route erupted in joy last week when British Airways offered, erroneously as it turned out, a $40 round-trip fare (plus taxes, fees and surcharge) from any city in the US to any destination in India. Scores of eager beaver flyers snagged the tickets in the two-hour window on October 2, before BA realized its error and shut down the offer, even as word about the Gandhi Jayanti gift sped through the desi bush telegraph. Now BA says it cannot honor the tickets because it was a systems' glitch. The airline claims it was actually filing for a $40 increase in fares between US and India and somewhere down the line the plus sign got knocked off. "As these fares were so clearly below the normal fare levels, British Airways is unable to honor these bookings," the airline said in an e-mail to travel agents. "We have cancelled all affected bookings made during this two-hour window, and will make a full refund for any paid for and issued ticket." Not so fast, say furious customers. Many of them say they have made other onward bookings and plans. Some dumped other airlines and tickets, incurring a cancellation fee, to pile on the BA bonanza. Besides, say some customers, the $40 fare tag is misleading. "What they're leaving out is that taxes and fees amount to $530+. So sure it is a good deal, but not a give-away by any means," one buyer wrote to the LA Times travel blog, which first broke the story. Others said they paid between $600 to $700 including taxes, fees, and surcharge, and insist BA should honor the deal. On Friday, BA budged just a bit, offering a $ 300 discount on a future BA fare to India in addition to the full refund. In its e-mail to travel agents, the airline apologized for the error and said refunded customers could get an additional $300 off "any published retail World Traveller fare from the US to India when booked between now and Nov. 12, 2009." It said the offer was valid for travel through Sept. 30, 2010. It remains to be seen if buyers are pacified. The public relations fiasco underlines the steady decline of European airlines and against emerging Gulf and eastern carriers for the US-India market, even as state-owned Air India is flailing around. For the longest time, European carriers such as BA, KLM, Air France and Lufthansa have had a run of the US-India route, especially from the East Coast, with transit through European hubs. But now gulf carriers such as Qatar Airways and Emirates are muscling into the market, enticing Indian flyers to fly through the Doha and Dubai, instead of through London, Paris, Amsterdam, Frankfurt etc. Commencing Sunday, Qatar Airways will begin a direct service four times a week from its Doha base to Amritsar, allowing a wide base of Sikhs/Punjabi diaspora in North America (where it flies direct to Washington DC, Houston/Dallas among other cities), Europe, Africa and the Gulf/West Asia region to make their Golden Temple pilgrimage expeditiously. The airline, which already flies from Doha to eight other cities in India, will also begin a Doha-Goa service on October 25, making it one of the "best spread" foreign airlines in India. Qatar flies directly non-stops from Doha to Delhi, Mumbai, Kolkata, Hyderabad, Thiruvananthapuram, Kochi, Kozhikode. A Doha-Bangalore flight is next in line. Likewise, its Gulf rival Emirates (over which Qatar brags a five-star rating) offers a several connections into Indian cities for Indian expats flying in from U.S. Many flyers from the US prefer a 13-hour first leg to Gulf hubs (allowing eight hours of sleep) which brings them within 3-4 hours to India, rather than the approximately 7 hour-9 hour split while flying from US to India via Europe. Not surprisingly, all six airlines which have a Skytrax five-star rating (Qatar, Kingfisher, Cathay Pacific, Asiana, Singapore and Malaysia) are Asian, with no European or American airline making the grade. Crisis ridden Air India meanwhile is trying to retrieve the situation in a U.S market where it has poor ratings. Starting December 1, India's sarkari airline is going to meet a long standing demand from passengers in the Washington DC region to connect directly to New Delhi. "Direct" but not non-stop, since the flight will be a Washington DC--New York--New Delhi-Kolkata shuttle. The current New York-Delhi non-stop is just getting an extension at both ends. Still, it's the first step in directly linking the two capitals with the same aircraft. There are already Washington DC-Tokyo and Washington DC-Beijing direct non-stops.
Saturday, September 26, 2009
New Launch: Asus F83S laptop
The Asus F83S laptop features a scratch resistant satin-brushed aluminium body, and boasts of a spill-proof keyboard, which protects vital internal circuitry from accidental liquid spillage.
It packs a 2.53 GHz Intel Core 2 Duo P8700 Processor, 4GB DDR2 800 MHz RAM, and a 500GB 5400rpm hard drive.
The Windows Vista Home Premium laptop has a 14-inch widescreen display capable of a maximum resolution of 1366x768 pixels, powered by an ATI Radeon HD4570 graphics chipset. A smart logon feature accepts the user’s facial features as the pass-key.
Connectivity options include Wi-Fi (802.11 b/g/n), Bluetooth, LAN, three USB 2.0 ports, HDMI and VGA ports, and an 8-in-1 card reader.
Weighing 2.40 kg with the 6 cell battery, Asus F83S is priced at Rs 60,340.
Thursday, September 24, 2009
Hindu, Muslim unity makes month of fasting special
With a happy note, the month of fasting has come to an end and left behind some sweet memories like the offering of namaz inside the temple, the awakening of the Muslims by a devout Hindu for “Sahri” etc.
There are some people who have set a record of sorts of brotherhood and secularism.
· The Hidus hold an Iftar party for the Muslims within the precinct of a temple.
· Likewise, a Hindu has been awakening the Muslims all through the month for “Sahri”.
· Ashok Lakshman, a police officer of Mumbai, is observing fast during the month of Ramazan since 1989. It gives him mental peace and solve his problems too.
Hats off to the Indians!
There are some people who have set a record of sorts of brotherhood and secularism.
· The Hidus hold an Iftar party for the Muslims within the precinct of a temple.
· Likewise, a Hindu has been awakening the Muslims all through the month for “Sahri”.
· Ashok Lakshman, a police officer of Mumbai, is observing fast during the month of Ramazan since 1989. It gives him mental peace and solve his problems too.
Hats off to the Indians!
Wednesday, September 23, 2009
Rural retail slowdown
Though urban retailers were in opposite weather, rural retailers were safe on their count because:
· The National Rural Employment Guarantee Scheme is running in the rural areas
· High support prices for key crops.
· The betterment of the transport infrastructure.
· Rural income is non taxable.
But, the signals now are not n favor. Many rural retail outlets are shutting their businesses after finding no buyers. There is a need to rethink strategically and to restructure.
The reason for this downturn may be the less than normal monsoons means, the sub-optimal monsoons. Farmers have a tendency to hold back expenditure in anticipation of sub-optimal rainfalls. The late revival of monsoon may improve the situation as the festive season is approaching soon.
· The National Rural Employment Guarantee Scheme is running in the rural areas
· High support prices for key crops.
· The betterment of the transport infrastructure.
· Rural income is non taxable.
But, the signals now are not n favor. Many rural retail outlets are shutting their businesses after finding no buyers. There is a need to rethink strategically and to restructure.
The reason for this downturn may be the less than normal monsoons means, the sub-optimal monsoons. Farmers have a tendency to hold back expenditure in anticipation of sub-optimal rainfalls. The late revival of monsoon may improve the situation as the festive season is approaching soon.
Tuesday, September 22, 2009
Wife Appeal
It’s a common scene in any Indian nuclear family that the husband is a little extravagant and therefore, the wife chides her husband. An advertisement is on air showing that a few children are collecting money for a cricket tournament. The man wants to contribute but he has to curb his habit because of his wife.
A recent advertisement of the Kotak Mahindra Bank
states: “Ab ye badlein ya na badlein, aap rahein befikr. Kotak Mahindra ka ActivMoney.” This is an attempt by the Bank to resolve the confusion by invoking the housewife’s natural instinct to save and curb the extravagancy of the husband. This is something new as different from the other banks which are serving their part. The Bank has now identified the role of wife in financial planning of the household.
Kotak Mahindra Bank has now a clear target on retail customers after being in market for around six years. After the collapse of Lehman Brothers, the idea behind the new concept is to reassure and to lure more customers. Going back to the customers with the same old story did not make sense.
The television advertisements will be followed by a 360-degree campaign with on-ground, outdoor, radio and internet activities. The idea behind the whole campaign is “Let’s make money simple.”
A recent advertisement of the Kotak Mahindra Bank
states: “Ab ye badlein ya na badlein, aap rahein befikr. Kotak Mahindra ka ActivMoney.” This is an attempt by the Bank to resolve the confusion by invoking the housewife’s natural instinct to save and curb the extravagancy of the husband. This is something new as different from the other banks which are serving their part. The Bank has now identified the role of wife in financial planning of the household.Kotak Mahindra Bank has now a clear target on retail customers after being in market for around six years. After the collapse of Lehman Brothers, the idea behind the new concept is to reassure and to lure more customers. Going back to the customers with the same old story did not make sense.
The television advertisements will be followed by a 360-degree campaign with on-ground, outdoor, radio and internet activities. The idea behind the whole campaign is “Let’s make money simple.”
Sunday, September 20, 2009
Sacred Space
There is one God.
He is the
Supreme Truth.
He is the Creator,
Is without fear
and without hate.
He, the Omnipresent,
Pervades
the universe.
He is not born,
Nor does He die
to be born again.
By His grace shalt
thou worship Him.
Japji
He is the
Supreme Truth.
He is the Creator,
Is without fear
and without hate.
He, the Omnipresent,
Pervades
the universe.
He is not born,
Nor does He die
to be born again.
By His grace shalt
thou worship Him.
Japji
Saturday, September 19, 2009
A Mother's Love- A Beautiful Creation
To some love is just a word
To me it's a feeling
A feeling I get everytime I look into your eyes
A feeling I get when I realize you're my mom
A mom who loves, shares, A mom who inspires
Unconditionally
What's that?
That's love
A mother's love, but only you would know
And me
You returned that love time and time again
Possibly to much, nevertheless
you did
Thank you
Thank you for being there when I needed
you most
For being my rock when I should have
been yours
Thank you for believing in me, even when
I doubted myself
For being the one person I could trust
No matter what, no matter where
But most of all thank you for being you- my mom
A mom I'm so proud to claim
I love you
Now and forever
To me it's a feeling
A feeling I get everytime I look into your eyes
A feeling I get when I realize you're my mom
A mom who loves, shares, A mom who inspires
Unconditionally
What's that?
That's love
A mother's love, but only you would know
And me
You returned that love time and time again
Possibly to much, nevertheless
you did
Thank you
Thank you for being there when I needed
you most
For being my rock when I should have
been yours
Thank you for believing in me, even when
I doubted myself
For being the one person I could trust
No matter what, no matter where
But most of all thank you for being you- my mom
A mom I'm so proud to claim
I love you
Now and forever
Friday, September 18, 2009
Funny Quotes
- You laugh at me because I'm different. I laugh at you because you're all the same.
- This is an excellent time for you to become a missing person.
- Always forgive your enemies- nothing annoys them so much.
- Experience is like a comb. You get it when you're bald!
- Hard work has a future payoff. Laziness payoffs now!
- If you need space, join the NASA!
- I'm not totally useless! I can be used as a bad example.
- Love is grand, divorce is a hundred grand!
- Aim for the stars. But first, aim for their bodyguards.
- I'm not anti social, Society is anti me.
Thursday, September 17, 2009
Dangerous Drugs
These drugs have been globally discarded but available in India:
1. Analgin: A pain killer which may cause Bone Marrow Depression
2. Cisapride: Used for acidity and constipation, may create irregular heartbeat
3. Nimesulide: A pain killer which may cause Liver Failure
4. Phenolphthalein: A laxative which may cause Cancer
5. Furazolidone: Its an Antidiarrhoeal, may cause Cancer
6. Piperazine: Its an Antiworms, may cause Nerve damage
7. Quiniodochlor: An Antidiarrhoeal may cause damage to sight
8. Droperidol: An Anti-depressant which may cause irregular heartbeat
1. Analgin: A pain killer which may cause Bone Marrow Depression
2. Cisapride: Used for acidity and constipation, may create irregular heartbeat
3. Nimesulide: A pain killer which may cause Liver Failure
4. Phenolphthalein: A laxative which may cause Cancer
5. Furazolidone: Its an Antidiarrhoeal, may cause Cancer
6. Piperazine: Its an Antiworms, may cause Nerve damage
7. Quiniodochlor: An Antidiarrhoeal may cause damage to sight
8. Droperidol: An Anti-depressant which may cause irregular heartbeat
Wednesday, September 16, 2009
Heart Facts
What is cardia arrest?
Simply put, it is when the heart the heart stops functioning and is unable to pump blood to various parts of body. The heart starts beating chaotically, which is the result of sudden electrical malfunction of heart.
What can increase risk?
1. An aging work force like in state assemblies, Parliament and government offices.
2. Work sites with high voltage equipment or chemicals.
3. Large number of employees located under one roof.
What is the treatment?
The most efficient treatment for cardiac arrest is immediate counter electric shock, which means applying DC current across a patient's chest allowing it to regain control and reverse ventricular fibrillation (VF).
Simply put, it is when the heart the heart stops functioning and is unable to pump blood to various parts of body. The heart starts beating chaotically, which is the result of sudden electrical malfunction of heart.
What can increase risk?
1. An aging work force like in state assemblies, Parliament and government offices.
2. Work sites with high voltage equipment or chemicals.
3. Large number of employees located under one roof.
What is the treatment?
The most efficient treatment for cardiac arrest is immediate counter electric shock, which means applying DC current across a patient's chest allowing it to regain control and reverse ventricular fibrillation (VF).
Tuesday, September 15, 2009
Benefits of Tulsi and Berry
Tulsi
1.Enhances general health and well-being, having overall positive effects on the body and mind.
2.Improves stamina and endurance.
3.Its anti-aging.
4.An antioxidant.
5.Strengthens and modulates the immune system.
6.Offers antibiotic protection.
Berry
1.Juice keeps body metabolism in sound shape, improves immunity and strengthens memory.
2.Helps in proper functioning of liver.
3.Lowers cholesterol level, controls blood pressure.
4.Improves micro circulation of blood capillaries, nourishes skin and hair.
1.Enhances general health and well-being, having overall positive effects on the body and mind.
2.Improves stamina and endurance.
3.Its anti-aging.
4.An antioxidant.
5.Strengthens and modulates the immune system.
6.Offers antibiotic protection.
Berry
1.Juice keeps body metabolism in sound shape, improves immunity and strengthens memory.
2.Helps in proper functioning of liver.
3.Lowers cholesterol level, controls blood pressure.
4.Improves micro circulation of blood capillaries, nourishes skin and hair.
Monday, September 14, 2009
Common platform for all MF investments likely from March
Wait till March 2010, and MF schemes are just a click away. The Association of Mutual Funds of India (AMFI) has finalized a proposal to provide easy access to the investors and distributors to reduce costs, improve efficiency and save time. The investors will get unique identification numbers and passwords through which they can transact and access information. Currently, the procedure is paper-oriented and time-consuming but now, it will be a investor-centric initiative.
Sunday, September 13, 2009
Pfizer: All eyes on Cancer drugs
The past fortunes of the world’s largest pharmaceutical company, Pfizer, were built on cardiovascular drugs. But now, it hired about 1,000 researchers to develop cancer drugs. The other companies are also pouring billions of their dollars. The high prices of cancer drugs are creating an irresistible lure to the companies.
Studies revealed that the cancer is caused due to the genetic changes in the cells and these tumor cells can develop resistance against drugs. Even id the drug provides the little benefit; the patients are ready to pay huge.
Last year, there are 23 cancer drugs among the top 200 medicines in the term of sales. Cancer drugs have been the biggest category of drugs since 2006. Such money attracts the companies.
Onida to exorcise its ‘iconic’ devil, give brand a makeover
Onida, established in 1982, under Mirc Electronics, offers a widerange of appliances like Acs, DVDs, home theatre systems etc. The company’s ‘devil’ ad campaign was a rage at one point but now Onida has decided to say goodbye. Onida is reviving its plan because things have changed due to liberalization, market expansions as well as spending capabilities. Onida is in the process of building a new mascot to appeal to the new age customers in this stiff competition within market.
Friday, September 11, 2009
Now, God’s own country to become 100% e-literate
By this November, Kerela will have high-speed internet access in its every village. Kerela will now become India’s first state with broadband connectivity in every village. Kerela has about 1,400 villages and 999 panchayats. The state has already launched “Akshaya Scheme” to make at least one member in each household computer literate. Under Government’s Universal Service Obligation (USO) scheme, the state government has started a campaign to connect the unconnected areas along with BSNL. This will increase the facilities like eFiling of forms, payment of bills etc. This will also make and aware the people about e-literacy.
Thursday, September 10, 2009
HUMAN RESOURCE MANAGEMENT
Human resource management (HRM) is the effective and optimum utilization of human capital to achieve organisational objectives. Accordingly, managers at every level must concern themselves with HRM. Practically all the managers get things done through the efforts of others which require strategic HRM. Individuals dealing with human resource matters face a number of challenges, ranging from a constantly changing workforce to ever-present government regulations, a major technological revolution, changing work culture.
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