The Sensex opened with a negative gap of 144 points at 16,227 on negative cues from the global markets.
Unabated selling in capital goods, financial and technology stocks saw the index drop to a low of 15,616 - down 755 points from the previous close.
The Sensex finally ended with a loss of 727 points at 15,644.
The index thus ended the month with a loss of 11% (1,934 points), and finished fiscal year 2007-08 with a gain of 19.7% (2,572 points).
Big Falls this March…
Date Close
Prv Cls
Chg
% Chg
17-Mar-08 14809.49 15760.52 (951.03) (6.03)
03-Mar-08 16677.88 17578.72 (900.84) (5.12)
13-Mar-08 15357.35 16127.98 (770.63) (4.78)
31-Mar-08 15644.44 16371.29 (726.85) (4.44)
07-Mar-08 15975.52 16542.08 (566.56) (3.42)
Monday, March 31, 2008
Thursday, March 27, 2008
Tatas` eco-car project may get Thai go-ahead soon
Tata Motors is likely to have one more achievement to cheer about as it gets into the new financial year, when Thailand’s Board of Investment (BoI) approves the company’s proposal to make an eco-car.
A BoI official in Bangkok told Business Standard that the internal approval meeting, scheduled for April 2, 2008, was likely to give its nod to India’s third largest passenger car maker to manufacture the eco-car.
BoI is the Thai equivalent of India’s Foreign Investment Promotion Board (FIPB).
Govt initiative
The eco-car is an initiative of the Thai government to make the country a prominent producer of cars that meet state-of-the-art emission and safety norms with a stringent fuel economy of 20 km a litre.
Tata Motors will be the third global car maker to get approval for such a project after Suzuki Motor Corporation and SIAM Nissan Automobile, whose projects are expected to start commercial production in 2010.
BoI issued a notification in June 2007 inviting proposals from global car makers to manufacture the eco-car.
It set a minimum pollution standard of Euro-IV or higher, with emissions no more than 120 grams of carbon dioxide per kilometre. The car should also satisfy passenger safety standards for both front and side impact as specified by UNECE Reg 94 and Reg 95 respectively.
A BoI official in Bangkok told Business Standard that the internal approval meeting, scheduled for April 2, 2008, was likely to give its nod to India’s third largest passenger car maker to manufacture the eco-car.
BoI is the Thai equivalent of India’s Foreign Investment Promotion Board (FIPB).
Govt initiative
The eco-car is an initiative of the Thai government to make the country a prominent producer of cars that meet state-of-the-art emission and safety norms with a stringent fuel economy of 20 km a litre.
Tata Motors will be the third global car maker to get approval for such a project after Suzuki Motor Corporation and SIAM Nissan Automobile, whose projects are expected to start commercial production in 2010.
BoI issued a notification in June 2007 inviting proposals from global car makers to manufacture the eco-car.
It set a minimum pollution standard of Euro-IV or higher, with emissions no more than 120 grams of carbon dioxide per kilometre. The car should also satisfy passenger safety standards for both front and side impact as specified by UNECE Reg 94 and Reg 95 respectively.
Daimler-Hero JV gets govt approval
Government today gave approval to a Rs 1,650 crore investment by Germany's Dailmer AG on its proposed joint venture with India's Hero Group for manufacturing commercial vehicles.
Daimler's investment of Rs 1650 crore will constitute 60 per cent of the equity capital of the joint venture, an official spokesperson told reporters here after a meeting of the Cabinet Committee on Economic Affairs.
The JV will design, manufacture and sell commercial vehicles of above 2 tonnes for Indian as well as overseas market, the official added.
Moreover, the JV would also source components from India for Daimler's global requirements, besides undertaking research and development activity for new products and variants.
Towards the end of last year, Daimler and Hero Group had announced that they have agreed to form a joint venture for manufacturing light, medium and heavy commercial vehicles.
The joint venture would initially manufacture LCVs and M&HCV's for the domestic market followed by exports at a later stage.
Daimler's investment of Rs 1650 crore will constitute 60 per cent of the equity capital of the joint venture, an official spokesperson told reporters here after a meeting of the Cabinet Committee on Economic Affairs.
The JV will design, manufacture and sell commercial vehicles of above 2 tonnes for Indian as well as overseas market, the official added.
Moreover, the JV would also source components from India for Daimler's global requirements, besides undertaking research and development activity for new products and variants.
Towards the end of last year, Daimler and Hero Group had announced that they have agreed to form a joint venture for manufacturing light, medium and heavy commercial vehicles.
The joint venture would initially manufacture LCVs and M&HCV's for the domestic market followed by exports at a later stage.
Wednesday, March 26, 2008
Tata buys Jaguar Land Rover for $2.3bn
Mumbai-based Tata Motors has bought Jaguar and Land Rover from Ford Motor Company for $2.3 billion. Ford will contribute $600 million towards pension plans of the two brands, a statement released today stated.
As per the agreement Tata Motors will buy out assets of Jaguar and Land Rover, which comprising brands, plants and Intellectual Property Rights (IPR).
The transfer of ownership to Tata Motors is expected to close by the end of the next quarter, subject to applicable regulatory approvals.
Ratan N Tata, chairman, Tata Sons, said, “We are very pleased at the prospect of Jaguar and Land Rover being a significant part of our automotive business. We have enormous respect for the two brands and will endeavour to preserve and build on their heritage and competitiveness, keeping their identities intact. We aim to support their growth, while holding true to our principles of allowing the management and employees to bring their experience and expertise to bear on the growth of the business.”
As part of the transaction, Ford will continue to supply Jaguar Land Rover for differing periods with powertrains, stampings and other vehicle components, in addition to a variety of technologies, such as environmental and platform technologies. Ford also has committed to provide engineering support, including research and development, plus information technology, accounting and other services.
As per the agreement Tata Motors will buy out assets of Jaguar and Land Rover, which comprising brands, plants and Intellectual Property Rights (IPR).
The transfer of ownership to Tata Motors is expected to close by the end of the next quarter, subject to applicable regulatory approvals.
Ratan N Tata, chairman, Tata Sons, said, “We are very pleased at the prospect of Jaguar and Land Rover being a significant part of our automotive business. We have enormous respect for the two brands and will endeavour to preserve and build on their heritage and competitiveness, keeping their identities intact. We aim to support their growth, while holding true to our principles of allowing the management and employees to bring their experience and expertise to bear on the growth of the business.”
As part of the transaction, Ford will continue to supply Jaguar Land Rover for differing periods with powertrains, stampings and other vehicle components, in addition to a variety of technologies, such as environmental and platform technologies. Ford also has committed to provide engineering support, including research and development, plus information technology, accounting and other services.
Ashok Leyland completes $200 mn ECB
Ashok Leyland, the Indian flagship of the Hinduja Group, has concluded an External Commercial Borrowing (ECB) programme of $200 million. This is the largest ever loan taken by the company in a single transaction till date.
The company has broad based its relationships, with the facility being subscribed to by several banks including the leading foreign banks. The loan will partly fund the requirements of the company to meet its expansion plans and overseas investments.
As per the guidelines of RBI, companies can use the proceeds of ECB only for meeting forex requirements for capital expenditure and other overseas investment purposes. Accordingly, RBI has given a go ahead to the company to proceed with the drawdown.
Said K Sridharan, Chief Financial Officer, Ashok Leyland: “This deal is significant for the company in many ways. Meant to meet the company’s funding requirements, the deal got successfully completed at a time when the global financial markets are in turmoil.”
The funds would be drawn over the permitted period and the company would be taking necessary hedging measures to protect itself from the vagaries of exchange markets.
The company has broad based its relationships, with the facility being subscribed to by several banks including the leading foreign banks. The loan will partly fund the requirements of the company to meet its expansion plans and overseas investments.
As per the guidelines of RBI, companies can use the proceeds of ECB only for meeting forex requirements for capital expenditure and other overseas investment purposes. Accordingly, RBI has given a go ahead to the company to proceed with the drawdown.
Said K Sridharan, Chief Financial Officer, Ashok Leyland: “This deal is significant for the company in many ways. Meant to meet the company’s funding requirements, the deal got successfully completed at a time when the global financial markets are in turmoil.”
The funds would be drawn over the permitted period and the company would be taking necessary hedging measures to protect itself from the vagaries of exchange markets.
Friday, March 21, 2008
Tata team seeks ways to keep Nano at Rs 1 lakh
Click Here For Official Tata Nano Website
Tata Motors has set up a separate team at its plant in Pune to examine ways to cut manufacturing costs on the Nano, the small car scheduled for an October launch, to bring the ex-showroom price down to the psychological Rs 1 lakh mark, Managing Director Ravi Kant said today.
At present, the Nano’s ex-factory price is Rs 1 lakh, making it the world’s cheapest car. Transport costs and value-added tax, however, put the ex-showroom price at Rs 1.2 lakh to Rs 1.3 lakh.
Kant declined to elaborate how the price reductions would be effected. Experts believe the company will either look at better price negotiations with component suppliers or through very minor re-engineering on the basic model.
Tata Motors has been able to reduce the cost of the car by making things smaller and lighter, doing away with superficial parts and changing material wherever possible.
For instance, the 623 cc petrol engine was made of aluminium instead of cast iron, saving weight and cost. The engine has also been placed at the rear of the car, putting less pressure on steering systems.
“We haven't taken a call on any price cut on the Nano, the launch date of the car is still far away and something might be planned by then,” a company official said.
Kant said the company had received lakhs of enquiries through the internet for the Nano. “The response has been overwhelming so far.”
The surge in pre-launch demand had prompted Chairman Ratan Tata to state that the company is open to licensing the Nano design to other automakers for manufacturing.
This move by the company, analyst believe, will help Tata Motors achieve economies of scale, thereby reducing the time lag of delivery of the car.
Tata Motors intends to open bookings for the car three months from now.
The company plans to produce 2,50,000 Nanos in the first phase and add 1,00,000 in the second phase, taking production capacity to 3,50,000 cars probably by the end of the next financial year.
Tata Motors has set up a separate team at its plant in Pune to examine ways to cut manufacturing costs on the Nano, the small car scheduled for an October launch, to bring the ex-showroom price down to the psychological Rs 1 lakh mark, Managing Director Ravi Kant said today.
At present, the Nano’s ex-factory price is Rs 1 lakh, making it the world’s cheapest car. Transport costs and value-added tax, however, put the ex-showroom price at Rs 1.2 lakh to Rs 1.3 lakh.
Kant declined to elaborate how the price reductions would be effected. Experts believe the company will either look at better price negotiations with component suppliers or through very minor re-engineering on the basic model.
Tata Motors has been able to reduce the cost of the car by making things smaller and lighter, doing away with superficial parts and changing material wherever possible.
For instance, the 623 cc petrol engine was made of aluminium instead of cast iron, saving weight and cost. The engine has also been placed at the rear of the car, putting less pressure on steering systems.
“We haven't taken a call on any price cut on the Nano, the launch date of the car is still far away and something might be planned by then,” a company official said.
Kant said the company had received lakhs of enquiries through the internet for the Nano. “The response has been overwhelming so far.”
The surge in pre-launch demand had prompted Chairman Ratan Tata to state that the company is open to licensing the Nano design to other automakers for manufacturing.
This move by the company, analyst believe, will help Tata Motors achieve economies of scale, thereby reducing the time lag of delivery of the car.
Tata Motors intends to open bookings for the car three months from now.
The company plans to produce 2,50,000 Nanos in the first phase and add 1,00,000 in the second phase, taking production capacity to 3,50,000 cars probably by the end of the next financial year.
Sachin recommended Dhoni as captain:Pawar
It was Sachin Tendulkar's idea to make Mahendra Singh Dhoni captain of India's one-day team, Board of Control for Cricket in India (BCCI) president Sharad Pawar said today.
Pawar recalled how the Indian team plunged into a crisis in England last year with the then captain Rahul Dravid dropping first hints of his reluctance to lead the team. "By that time, Rahul had told me he could not concentrate on his game and requested me to find someone else. Some selectors wanted Sachin to lead and I conveyed it to him. Sachin said: "Please don't do this.' I asked then who should lead the side, and he said: Give it to someone like Dhoni."
"He said give Dhoni the opportunity. He has excellent relation with the team mates. I told him I would not interfere but would definitely convey it to the selectors," the BCCI chief said in New Delhi today.
Pawar also hailed Tendulkar and senior players Rahul Dravid, Sourav Ganguly and Anil Kumble for paving the way for the youngsters in the Twenty20 team.
"I was in England when we were playing them. Sachin met me and suggested, 'I know you don't interfere with the team selection but you please tell the selectors not to include players of my generation in the Twenty20 squad.' He said 'my generation is not fit for Twenty20, so give opportunity to the youngsters.'
"Now, who would come and say don't induct us when that means losing a few lakh rupees? I think we are fortunate to have players like Rahul, Sourav and Anil. Their commitment is unquestionable," Pawar said.
Pawar praised Dhoni's leadership qualities after the swashbuckling wicketkeeper-batsman led India to Twenty20 World Cup and the tri-series triumph in Australia. "Dhoni as the captain has done extremely well. He can motivate and has a good equation with other players. He is also cool [under pressure]."
He, however, seemed more impressed by Test captain Anil Kumble, especially after the veteran spinner handled the Sydney racism row with great maturity. "I would say Anil Kumble has been remarkable as captain. He is a good motivator and his behaviour was impeccable both on and off the field. In the true sense of the term, he was an ambassador of the country, and we are proud of the way he handled the entire issue," Pawar said.
Pawar recalled how the Indian team plunged into a crisis in England last year with the then captain Rahul Dravid dropping first hints of his reluctance to lead the team. "By that time, Rahul had told me he could not concentrate on his game and requested me to find someone else. Some selectors wanted Sachin to lead and I conveyed it to him. Sachin said: "Please don't do this.' I asked then who should lead the side, and he said: Give it to someone like Dhoni."
"He said give Dhoni the opportunity. He has excellent relation with the team mates. I told him I would not interfere but would definitely convey it to the selectors," the BCCI chief said in New Delhi today.
Pawar also hailed Tendulkar and senior players Rahul Dravid, Sourav Ganguly and Anil Kumble for paving the way for the youngsters in the Twenty20 team.
"I was in England when we were playing them. Sachin met me and suggested, 'I know you don't interfere with the team selection but you please tell the selectors not to include players of my generation in the Twenty20 squad.' He said 'my generation is not fit for Twenty20, so give opportunity to the youngsters.'
"Now, who would come and say don't induct us when that means losing a few lakh rupees? I think we are fortunate to have players like Rahul, Sourav and Anil. Their commitment is unquestionable," Pawar said.
Pawar praised Dhoni's leadership qualities after the swashbuckling wicketkeeper-batsman led India to Twenty20 World Cup and the tri-series triumph in Australia. "Dhoni as the captain has done extremely well. He can motivate and has a good equation with other players. He is also cool [under pressure]."
He, however, seemed more impressed by Test captain Anil Kumble, especially after the veteran spinner handled the Sydney racism row with great maturity. "I would say Anil Kumble has been remarkable as captain. He is a good motivator and his behaviour was impeccable both on and off the field. In the true sense of the term, he was an ambassador of the country, and we are proud of the way he handled the entire issue," Pawar said.
Thursday, March 20, 2008
NEXT-GENERATION DATA TRANSFORMATION TOOL
Michael Stonebraker
Department of Electrical Engineering and Computer Science
A fundamental problem for large enterprises revolves around converting data from various representations inside the logic of business units to one common representation in the enterprises central data warehouse. Business analysts subsequently query this warehouse to improve business processes.
While tools do exist to extract data from various locations and transform them into a common format, such exercises are usually complex and expensive. Moreover, todays modern business environment necessitates frequent changes in the data structures of business units. This makes such transformation exercises an ongoing issue. The goal of this project is to create a next-generation data transformation tool to facilitate these conversions.
The core technology is called Morpheus (the Greek god of dreams, who could change his form and appearance) that consists of a transformation tool and a repository that holds a large number of transformations. Morpheus would be used as a browser tool, finding a repository transformation that is "close" to the required one. Then, the transformation tool is used to manipulate the identified starting point in a drag-and-drop fashion quickly and easily into the desired result.
Department of Electrical Engineering and Computer Science
A fundamental problem for large enterprises revolves around converting data from various representations inside the logic of business units to one common representation in the enterprises central data warehouse. Business analysts subsequently query this warehouse to improve business processes.
While tools do exist to extract data from various locations and transform them into a common format, such exercises are usually complex and expensive. Moreover, todays modern business environment necessitates frequent changes in the data structures of business units. This makes such transformation exercises an ongoing issue. The goal of this project is to create a next-generation data transformation tool to facilitate these conversions.
The core technology is called Morpheus (the Greek god of dreams, who could change his form and appearance) that consists of a transformation tool and a repository that holds a large number of transformations. Morpheus would be used as a browser tool, finding a repository transformation that is "close" to the required one. Then, the transformation tool is used to manipulate the identified starting point in a drag-and-drop fashion quickly and easily into the desired result.
Tuesday, March 18, 2008
Country Club plans pan India expansion
Entertainment and leisure conglomerate, Country Club India Ltd has acquired properties worth Rs 96.04 crores in key cities such as Chennai, Pune, Delhi, Cochin, Kolkatta, Ahmedabad, Vadodara and Surat during the past two months.
According to the company's chairman V Rajeev Reddy, most of the acquisitions in the aforesaid destinations have been of existing clubs or properties conducive for creating clubs. The company would spend a considerable amount to refurbish these properties and bring them up to the Country Club standards.
The acquisitions are a part of the strategic expansion plan undertaken by the company to consolidate and strengthen its pan-India footprint. The company currently owns/operates 33 properties across the country.The expansion has initiated on account of the fact that clubbing has become more or less a way of life in metros, Reddy said.
The company also launched its first Spa in Hyderabad recently and proposes to set up such spa’s near Mumbai, Bangalore and Chennai.
The company plans to undertake the expansion on the back of war chest of Rs 486 crores through a recently completed GDR/QIP issue, the company aims . The GDR/QIP issue, priced at Rs 770 per share, evinced tremendous response. Leading global investment institutions such as Fidelity Investment International picked up 9.88 per cent equity in the company, while Goldman Sachs International and New Vernon picked up 6.59per cent and 4.94 per cent equity respectively.
According to the company's chairman V Rajeev Reddy, most of the acquisitions in the aforesaid destinations have been of existing clubs or properties conducive for creating clubs. The company would spend a considerable amount to refurbish these properties and bring them up to the Country Club standards.
The acquisitions are a part of the strategic expansion plan undertaken by the company to consolidate and strengthen its pan-India footprint. The company currently owns/operates 33 properties across the country.The expansion has initiated on account of the fact that clubbing has become more or less a way of life in metros, Reddy said.
The company also launched its first Spa in Hyderabad recently and proposes to set up such spa’s near Mumbai, Bangalore and Chennai.
The company plans to undertake the expansion on the back of war chest of Rs 486 crores through a recently completed GDR/QIP issue, the company aims . The GDR/QIP issue, priced at Rs 770 per share, evinced tremendous response. Leading global investment institutions such as Fidelity Investment International picked up 9.88 per cent equity in the company, while Goldman Sachs International and New Vernon picked up 6.59per cent and 4.94 per cent equity respectively.
Country Club plans pan India expansion
Entertainment and leisure conglomerate, Country Club India Ltd has acquired properties worth Rs 96.04 crores in key cities such as Chennai, Pune, Delhi, Cochin, Kolkatta, Ahmedabad, Vadodara and Surat during the past two months.
According to the company's chairman V Rajeev Reddy, most of the acquisitions in the aforesaid destinations have been of existing clubs or properties conducive for creating clubs. The company would spend a considerable amount to refurbish these properties and bring them up to the Country Club standards.
The acquisitions are a part of the strategic expansion plan undertaken by the company to consolidate and strengthen its pan-India footprint. The company currently owns/operates 33 properties across the country.The expansion has initiated on account of the fact that clubbing has become more or less a way of life in metros, Reddy said.
The company also launched its first Spa in Hyderabad recently and proposes to set up such spa’s near Mumbai, Bangalore and Chennai.
The company plans to undertake the expansion on the back of war chest of Rs 486 crores through a recently completed GDR/QIP issue, the company aims . The GDR/QIP issue, priced at Rs 770 per share, evinced tremendous response. Leading global investment institutions such as Fidelity Investment International picked up 9.88 per cent equity in the company, while Goldman Sachs International and New Vernon picked up 6.59per cent and 4.94 per cent equity respectively.
According to the company's chairman V Rajeev Reddy, most of the acquisitions in the aforesaid destinations have been of existing clubs or properties conducive for creating clubs. The company would spend a considerable amount to refurbish these properties and bring them up to the Country Club standards.
The acquisitions are a part of the strategic expansion plan undertaken by the company to consolidate and strengthen its pan-India footprint. The company currently owns/operates 33 properties across the country.The expansion has initiated on account of the fact that clubbing has become more or less a way of life in metros, Reddy said.
The company also launched its first Spa in Hyderabad recently and proposes to set up such spa’s near Mumbai, Bangalore and Chennai.
The company plans to undertake the expansion on the back of war chest of Rs 486 crores through a recently completed GDR/QIP issue, the company aims . The GDR/QIP issue, priced at Rs 770 per share, evinced tremendous response. Leading global investment institutions such as Fidelity Investment International picked up 9.88 per cent equity in the company, while Goldman Sachs International and New Vernon picked up 6.59per cent and 4.94 per cent equity respectively.
Tata Comm starts global TelePresence network
Telecom services provider Tata Communications today announced the launch of its global TelePresence network service which has achieved Cisco Certified TelePresence Connection status.
Cisco TelePresence is an innovative realistic virtual meeting solution that creates unique, 'in-person' experiences allowing real-time, face-to-face communication over a converged IP network. It delivers life-size images, ultra-high-definition video (1080p), spatial audio and a specially designed environment to create a 'room within a room' meeting space.
Tata Communications is the first Asian service provider to achieve Cisco Certified TelePresence Connection status enabling the delivery of the Cisco TelePresence solution.
Cisco TelePresence is an innovative realistic virtual meeting solution that creates unique, 'in-person' experiences allowing real-time, face-to-face communication over a converged IP network. It delivers life-size images, ultra-high-definition video (1080p), spatial audio and a specially designed environment to create a 'room within a room' meeting space.
Tata Communications is the first Asian service provider to achieve Cisco Certified TelePresence Connection status enabling the delivery of the Cisco TelePresence solution.
Tata Comm starts global TelePresence network
Telecom services provider Tata Communications today announced the launch of its global TelePresence network service which has achieved Cisco Certified TelePresence Connection status.
Cisco TelePresence is an innovative realistic virtual meeting solution that creates unique, 'in-person' experiences allowing real-time, face-to-face communication over a converged IP network. It delivers life-size images, ultra-high-definition video (1080p), spatial audio and a specially designed environment to create a 'room within a room' meeting space.
Tata Communications is the first Asian service provider to achieve Cisco Certified TelePresence Connection status enabling the delivery of the Cisco TelePresence solution.
Cisco TelePresence is an innovative realistic virtual meeting solution that creates unique, 'in-person' experiences allowing real-time, face-to-face communication over a converged IP network. It delivers life-size images, ultra-high-definition video (1080p), spatial audio and a specially designed environment to create a 'room within a room' meeting space.
Tata Communications is the first Asian service provider to achieve Cisco Certified TelePresence Connection status enabling the delivery of the Cisco TelePresence solution.
Sunday, March 16, 2008
Tata Motors to shift Ace prodn to Uttarakhand
Tata Motors will shift the entire production of its mini truck Ace and the passenger carrier variant of the vehicle, Magic, to Uttarakhand by next year.
"Currently, Ace and Magic are being produced from both Pune and Uttarakhand but the idea is to shift the total production to the latter unit," Ravi Pisharody, vice president (sales and marketing - commercial vehicles), Tata Motors, said today.
He said the shift would commence by the middle of next year. "We are expecting to utilise the full capacity of the Uttarakhand plant by the end of next year," Pisharody added.
The Uttarakhand plant has a production capacity of 2.25 lakh units per annum, and the company made an investment of Rs 1,000 crore in setting up the facility.
The company today launched its six-seater rural transportation vehicle Magic priced at Rs 2.68 lakh (ex-showroom Delhi), and 9-13 seater maxicab Winger (Rs 4.67 lakh to Rs 6.67 lakh, ex-showroom Delhi) in north India.
"Currently, Ace and Magic are being produced from both Pune and Uttarakhand but the idea is to shift the total production to the latter unit," Ravi Pisharody, vice president (sales and marketing - commercial vehicles), Tata Motors, said today.
He said the shift would commence by the middle of next year. "We are expecting to utilise the full capacity of the Uttarakhand plant by the end of next year," Pisharody added.
The Uttarakhand plant has a production capacity of 2.25 lakh units per annum, and the company made an investment of Rs 1,000 crore in setting up the facility.
The company today launched its six-seater rural transportation vehicle Magic priced at Rs 2.68 lakh (ex-showroom Delhi), and 9-13 seater maxicab Winger (Rs 4.67 lakh to Rs 6.67 lakh, ex-showroom Delhi) in north India.
Maruti way ahead in mid-sized sedan segment
Country's largest car maker Maruti Suzuki India, better known for its compact cars, has zipped past competition, including Honda and Hyundai, in the mid-sized sedan segment this fiscal on the back of its successful model SX4.
The company, which has been focusing on becoming a full-scale player to outgrow its small-carmaker image as a part of parent Suzuki's global strategy, has managed to grow 53.2% in the A3 (mid-sized sedan) segment during the April-February period.
According to the latest data by Society of Indian Automobile Manufacturers (SIAM), MSI's sales in the period stood at 41,799 units as compared to 27,283 units in the same period last year.
The growth has enabled the company to speed past Honda Siel Cars India (HSCI), which was at the number one slot in April-February period of the previous fiscal. HSCI sells City, its popular model in the segment.
In the ongoing fiscal, HSCI's cumulative sales stood at 34,029 units as against 35,300 units in the corresponding period last year.
Hyundai Motor India comes third in the segment with 29,146 units sold in the period as against 25,147 units a year ago. The company sells two models - Accent and Verna - in the category.
The fight for the fourth place in the segment is a close one, between Ford and Tata Motors that have respectively clocked sales of 26,485 units (down from 34,681 units last year) and 26,281 units (29,949 units last year) during the period.
Ford has Ikon, Fiesta and Fusion models in the segment, while Tata Motors has Indigo and Indigo Marina.
The company, which has been focusing on becoming a full-scale player to outgrow its small-carmaker image as a part of parent Suzuki's global strategy, has managed to grow 53.2% in the A3 (mid-sized sedan) segment during the April-February period.
According to the latest data by Society of Indian Automobile Manufacturers (SIAM), MSI's sales in the period stood at 41,799 units as compared to 27,283 units in the same period last year.
The growth has enabled the company to speed past Honda Siel Cars India (HSCI), which was at the number one slot in April-February period of the previous fiscal. HSCI sells City, its popular model in the segment.
In the ongoing fiscal, HSCI's cumulative sales stood at 34,029 units as against 35,300 units in the corresponding period last year.
Hyundai Motor India comes third in the segment with 29,146 units sold in the period as against 25,147 units a year ago. The company sells two models - Accent and Verna - in the category.
The fight for the fourth place in the segment is a close one, between Ford and Tata Motors that have respectively clocked sales of 26,485 units (down from 34,681 units last year) and 26,281 units (29,949 units last year) during the period.
Ford has Ikon, Fiesta and Fusion models in the segment, while Tata Motors has Indigo and Indigo Marina.
Saturday, March 15, 2008
Sonia Gandhi inaugurates new Hyd airport
United Progressive Alliance chairperson Sonia Gandhi today inaugurated the Rajiv Gandhi International Airport at Hyderabad - India's first airport to be operational under the public-private partnership (PPP) model.
The formal commissioning of the greenfield airport was witnessed by about half-a-dozen union ministers, Andhra Pradesh Chief Minister YS Rajasekhara Reddy and his cabinet colleagues amidst much fanfare with the airport theme song rendered by music director A R Rahman playing in the background.
Sonia commissioned the airport by lighting the lamp and unveiling the plaque and a portrait of Rajiv Gandhi in the uniform of a pilot. She said though she was reluctant to attend such commissioning events, this one was special as Rajiv Gandhi had completed his advanced pilot training in Hyderabad.
Located in the southern suburb of Shamshabad, the airport has been built at a cost of Rs 2,478 crore by GMR Hyderabad International Airport (GHIAL), a joint venture promoted by GMR Infrastructure (63%), Airports Authority of India (13%), Andhra Pradesh government (13%) and Malaysian Airports Holding Berhad (11%). GHIAL has the mandate to build, own and operate the airport for 60 years.
The airport will start commercial operations from Sunday, and the first flight to take-off on March 16 will be the German carrier Lufthansa. Over 22 airlines will be flying to and from the airport that day covering over 35 destinations.
The facility, spread over an area of 5,495 acre (Begumpet airport area 790 acre), is south Asia's first A380-compatible airport, which has the longest runway at 4,260 metres. It has an initial capacity to handle 12 million passengers per year scaling up to 40 million in the final phase, which will begin once annual passenger flows cross 20 million. The corresponding figures for cargo handling are 100,000 tonne and one million tonne.
The airport has been designed by Hong Kong-based architects Winston Shu and Gumund Stokke.
According to GMR Group chairman G Mallikarjuna Rao, the airport combines the best of technology, design and features making it on par with any of the leading airports globally. It has been executed five months ahead of schedule setting new benchmarks for the aviation sector in the country for developing world-class airports.
The formal commissioning of the greenfield airport was witnessed by about half-a-dozen union ministers, Andhra Pradesh Chief Minister YS Rajasekhara Reddy and his cabinet colleagues amidst much fanfare with the airport theme song rendered by music director A R Rahman playing in the background.
Sonia commissioned the airport by lighting the lamp and unveiling the plaque and a portrait of Rajiv Gandhi in the uniform of a pilot. She said though she was reluctant to attend such commissioning events, this one was special as Rajiv Gandhi had completed his advanced pilot training in Hyderabad.
Located in the southern suburb of Shamshabad, the airport has been built at a cost of Rs 2,478 crore by GMR Hyderabad International Airport (GHIAL), a joint venture promoted by GMR Infrastructure (63%), Airports Authority of India (13%), Andhra Pradesh government (13%) and Malaysian Airports Holding Berhad (11%). GHIAL has the mandate to build, own and operate the airport for 60 years.
The airport will start commercial operations from Sunday, and the first flight to take-off on March 16 will be the German carrier Lufthansa. Over 22 airlines will be flying to and from the airport that day covering over 35 destinations.
The facility, spread over an area of 5,495 acre (Begumpet airport area 790 acre), is south Asia's first A380-compatible airport, which has the longest runway at 4,260 metres. It has an initial capacity to handle 12 million passengers per year scaling up to 40 million in the final phase, which will begin once annual passenger flows cross 20 million. The corresponding figures for cargo handling are 100,000 tonne and one million tonne.
The airport has been designed by Hong Kong-based architects Winston Shu and Gumund Stokke.
According to GMR Group chairman G Mallikarjuna Rao, the airport combines the best of technology, design and features making it on par with any of the leading airports globally. It has been executed five months ahead of schedule setting new benchmarks for the aviation sector in the country for developing world-class airports.
China tops world league of Internet users
China has more Internet users than any other country in the world, according to researchers at the Beijing-based analysts BDA.
The research group said China had leapfrogged the U.S. to become home to the world’s largest Internet population.
The research group said China had leapfrogged the U.S. to become home to the world’s largest Internet population.
Friday, March 14, 2008
Software "hiccup" undermines trip past Saturn moon
A software malfunction prevented a key piece of equipment on the Cassini spacecraft from recording data as it flew through the plume from a geyser shooting off a moon of Saturn, NASA said late on Thursday.
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NASA called the problem "an unexplained software hiccup" that came at a very bad time, preventing Cassini's Cosmic Dust Analyzer instrument from collecting data for about two hours as it flew over the surface of the moon Enceladus on Wednesday.
A key objective of the fly-by was to determine the density, size, composition and speed of particles erupting into space from the moon's south pole in a dramatic plume.
Bob Mitchell, Cassini program manager, said the problem meant that the instrument did not collect data as the craft flew through the plume -- a process lasting under a minute.
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NASA called the problem "an unexplained software hiccup" that came at a very bad time, preventing Cassini's Cosmic Dust Analyzer instrument from collecting data for about two hours as it flew over the surface of the moon Enceladus on Wednesday.
A key objective of the fly-by was to determine the density, size, composition and speed of particles erupting into space from the moon's south pole in a dramatic plume.
Bob Mitchell, Cassini program manager, said the problem meant that the instrument did not collect data as the craft flew through the plume -- a process lasting under a minute.
Kabul Chawla
First generation entrepreneurs do not always hide their wealth. Like any other 37-year-old who has come into big money, Kabul Chawla has an eye for fancy cars.
Parked in his garage, you can find a Lamborghini and a Bentley. Chawla can now also boast of owning some prime real estate in the country.
Born and brought up in Karnal, Haryana, Chawla is deeply religious. A day after sealing what is billed as the country’s, and perhaps also Asia’s, largest land acquisition, he headed off on a thanksgiving trip to the shrine of Vaishnodevi and other holy places in North India.
In doing so, he has followed in the footsteps of several business luminairies including Bharti Airtel’s Sunil Mittal and the late Lalit Suri of Bharat Hotels.
Having built his company, BPTP Ltd, from scratch in five years, Chawla bested the likes of DLF and Omaxe to win the rights to develop 94 acres of land for commercial use in the boomtown of Noida for an eye-popping Rs 5,006 crore.
Call it a case of sour grapes, but minutes after BPTP won the deal, an executive with a rival company said it had overbid for the land. Not totally untrue: BPTP's bid is nearly 70 per cent more than the reserve price of Rs 2,960 crore.
There are some concerns about the long-term viability of the deal. These are perhaps valid, considering the early evidence of a possible slow-down in the Indian economy, but BPTP executives choose to dismiss them.
A reason for their confidence could be the company’s scorching growth. Under Chawla, BPTP now owns a land bank of over 1,900 acres, spread across Faridabad, Gurgaon, Noida, Greater Noida, Mohali and Hyderabad.
The projects, a mix of residential and commercial, retail space and four special economic zones, are touted as crucial achievements.
Betting on BPTP’s growth potential, investors like the realty arm of Citibank and Merrill Lynch have recently invested in its projects. Company insiders credit Chawla with spotting the huge growth potential of the National Capital Region.
What is perhaps less known is Chawla’s nimble footed decision-making and his ability to network with decision makers including several senior politicians. Real estate deals of this kind, especially in Uttar Pradesh, need immense contacts and goodwill. Chawla, industry insiders say, has plenty of both.
Kabul Chawla also shares a kinship with the late Kalpana Chawla. The Indian-American astronaut and space shuttle mission specialist died on February 1, 2003. Kabul must have been influenced by the stupendous achievements of his cousin.
In sealing the Noida deal, Chawla has become the latest poster-boy for small town Indians. All that he needs to do now is to make sure that he builds castles on the ground for those who want them.
Parked in his garage, you can find a Lamborghini and a Bentley. Chawla can now also boast of owning some prime real estate in the country.
Born and brought up in Karnal, Haryana, Chawla is deeply religious. A day after sealing what is billed as the country’s, and perhaps also Asia’s, largest land acquisition, he headed off on a thanksgiving trip to the shrine of Vaishnodevi and other holy places in North India.
In doing so, he has followed in the footsteps of several business luminairies including Bharti Airtel’s Sunil Mittal and the late Lalit Suri of Bharat Hotels.
Having built his company, BPTP Ltd, from scratch in five years, Chawla bested the likes of DLF and Omaxe to win the rights to develop 94 acres of land for commercial use in the boomtown of Noida for an eye-popping Rs 5,006 crore.
Call it a case of sour grapes, but minutes after BPTP won the deal, an executive with a rival company said it had overbid for the land. Not totally untrue: BPTP's bid is nearly 70 per cent more than the reserve price of Rs 2,960 crore.
There are some concerns about the long-term viability of the deal. These are perhaps valid, considering the early evidence of a possible slow-down in the Indian economy, but BPTP executives choose to dismiss them.
A reason for their confidence could be the company’s scorching growth. Under Chawla, BPTP now owns a land bank of over 1,900 acres, spread across Faridabad, Gurgaon, Noida, Greater Noida, Mohali and Hyderabad.
The projects, a mix of residential and commercial, retail space and four special economic zones, are touted as crucial achievements.
Betting on BPTP’s growth potential, investors like the realty arm of Citibank and Merrill Lynch have recently invested in its projects. Company insiders credit Chawla with spotting the huge growth potential of the National Capital Region.
What is perhaps less known is Chawla’s nimble footed decision-making and his ability to network with decision makers including several senior politicians. Real estate deals of this kind, especially in Uttar Pradesh, need immense contacts and goodwill. Chawla, industry insiders say, has plenty of both.
Kabul Chawla also shares a kinship with the late Kalpana Chawla. The Indian-American astronaut and space shuttle mission specialist died on February 1, 2003. Kabul must have been influenced by the stupendous achievements of his cousin.
In sealing the Noida deal, Chawla has become the latest poster-boy for small town Indians. All that he needs to do now is to make sure that he builds castles on the ground for those who want them.
Wednesday, March 12, 2008
To lecture is human, to engage divine
As a young professor, Carl E. Wieman SB '73 figured it would be easy to get his students as excited about physics as he was. He would simply explain the subject, and students would see it with the same sterling clarity he did.
It didn't work.
"For many years, it was a frustrating puzzle to me" that students left the classroom as baffled--sometimes more baffled--than when they came in, said Wieman, a 2001 recipient of the Nobel Prize in Physics for his work on Bose-Einstein condensation.
As part of MacVicar Day 2008, an annual MIT celebration of undergraduate education, Wieman spoke March 7 about "Science Education in the 21st Century: Using the Tools of Science to Teach Science."
Spending less time reciting textbook facts, and more time actively engaging students with the same kind of puzzles and challenges that intrigue experts, goes a long way toward boosting student motivation and achievement, Wieman said. "Lectures listened to passively are completely worthless," he said. "They'll probably get the material better reading the text on their own. Use classroom time for making sure students are prepared to learn, for processing concepts and deeper understanding."
This year's MacVicar Faculty Fellows, announced at a reception hosted by President Susan Hockfield following Wieman's talk, are Tania Baker, professor of biology; W. Craig Carter, professor of materials science and engineering; Sanjay E. Sarma, associate professor of mechanical engineering; Stephen J. Tapscott, professor of literature; and Barton Zwiebach, professor of physics.
Wieman, who founded and directs the Carl Wieman Science Education Initiative at the University of British Columbia, said that "enormous global-scale issues," such as global warming, require a scientifically literate population. Yet science educators are failing to turn out students--aside from the 1 percent who go on to scientific careers--capable of "thinking about and using science like a scientist," he said.
Wieman's undergraduate experience at MIT was unorthodox: he pursued his own research in Lester Wolf Professor Daniel Kleppner's group and "spent countless hours" discussing physics with graduate students and postdocs, including David E. Pritchard, now Cecil and Ida Green Professor of Physics, but managed to take few formal classes.
It was when Wieman first starting teaching physics at the University of Michigan and later at the University of Colorado that he realized that something was going wrong for undergraduate science students. At the same time, students who entered physics graduate programs were miraculously transformed--from largely the same launching point as their non-science classmates--into expert physicists.
How did this happen? Wieman started looking to the increasing body of classroom-based studies, brain function investigation and cognitive psychology research for an answer.
He found that a dismal retention rate--only 10 percent of students correctly recalled a nonobvious fact 15 minutes after they heard it in a lecture--was "exactly what you would expect," he said. Because our short-term memory is very limited, it's not surprising to brain researchers that most students have only "a vague sense" of what a lecture was about immediately after hearing it.
Within the context of brain research, the inability of students to change their mode of thinking from novice to expert also was not surprising, he said. Becoming an expert changes the brain physically to include an organizational structure that allows retrieval and deployment of knowledge; simply delivering expert knowledge to students does not make them experts.
Wieman found that graduate students, by working with an expert tutor, learn by developing their own understaniding. An expert individual tutor can have a large impact on even large lecture classes by focusing on motivation, he said. "The goal is to convince students that physics is important and fascinating; probe where they are starting from, get them to actively process ideas and then probe and guide their thinking," he said. Posing questions instead of imparting information; getting students to explain material to the professor and to each other; allowing students to make mistakes and correct them on their own all result in dramatic improvements in retention and conceptual understanding, he said.
Technology such as personal response clickers can enhance engagement and provide instant feedback on what students do and don't understand.
"You can't assume they're interested in (the subject matter), but if you can make them interested in it, they'll learn it a lot better," he said. "Think about every question you pose: Is it obvious why someone would care about that answer besides a physics professor posing it in on a test?"
It didn't work.
"For many years, it was a frustrating puzzle to me" that students left the classroom as baffled--sometimes more baffled--than when they came in, said Wieman, a 2001 recipient of the Nobel Prize in Physics for his work on Bose-Einstein condensation.
As part of MacVicar Day 2008, an annual MIT celebration of undergraduate education, Wieman spoke March 7 about "Science Education in the 21st Century: Using the Tools of Science to Teach Science."
Spending less time reciting textbook facts, and more time actively engaging students with the same kind of puzzles and challenges that intrigue experts, goes a long way toward boosting student motivation and achievement, Wieman said. "Lectures listened to passively are completely worthless," he said. "They'll probably get the material better reading the text on their own. Use classroom time for making sure students are prepared to learn, for processing concepts and deeper understanding."
This year's MacVicar Faculty Fellows, announced at a reception hosted by President Susan Hockfield following Wieman's talk, are Tania Baker, professor of biology; W. Craig Carter, professor of materials science and engineering; Sanjay E. Sarma, associate professor of mechanical engineering; Stephen J. Tapscott, professor of literature; and Barton Zwiebach, professor of physics.
Wieman, who founded and directs the Carl Wieman Science Education Initiative at the University of British Columbia, said that "enormous global-scale issues," such as global warming, require a scientifically literate population. Yet science educators are failing to turn out students--aside from the 1 percent who go on to scientific careers--capable of "thinking about and using science like a scientist," he said.
Wieman's undergraduate experience at MIT was unorthodox: he pursued his own research in Lester Wolf Professor Daniel Kleppner's group and "spent countless hours" discussing physics with graduate students and postdocs, including David E. Pritchard, now Cecil and Ida Green Professor of Physics, but managed to take few formal classes.
It was when Wieman first starting teaching physics at the University of Michigan and later at the University of Colorado that he realized that something was going wrong for undergraduate science students. At the same time, students who entered physics graduate programs were miraculously transformed--from largely the same launching point as their non-science classmates--into expert physicists.
How did this happen? Wieman started looking to the increasing body of classroom-based studies, brain function investigation and cognitive psychology research for an answer.
He found that a dismal retention rate--only 10 percent of students correctly recalled a nonobvious fact 15 minutes after they heard it in a lecture--was "exactly what you would expect," he said. Because our short-term memory is very limited, it's not surprising to brain researchers that most students have only "a vague sense" of what a lecture was about immediately after hearing it.
Within the context of brain research, the inability of students to change their mode of thinking from novice to expert also was not surprising, he said. Becoming an expert changes the brain physically to include an organizational structure that allows retrieval and deployment of knowledge; simply delivering expert knowledge to students does not make them experts.
Wieman found that graduate students, by working with an expert tutor, learn by developing their own understaniding. An expert individual tutor can have a large impact on even large lecture classes by focusing on motivation, he said. "The goal is to convince students that physics is important and fascinating; probe where they are starting from, get them to actively process ideas and then probe and guide their thinking," he said. Posing questions instead of imparting information; getting students to explain material to the professor and to each other; allowing students to make mistakes and correct them on their own all result in dramatic improvements in retention and conceptual understanding, he said.
Technology such as personal response clickers can enhance engagement and provide instant feedback on what students do and don't understand.
"You can't assume they're interested in (the subject matter), but if you can make them interested in it, they'll learn it a lot better," he said. "Think about every question you pose: Is it obvious why someone would care about that answer besides a physics professor posing it in on a test?"
Monday, March 10, 2008
Trace your stolen laptops using Locate Laptop
Unistal Systems, a provider of data care, data recovery, anti-virus, Internet security products, services and training, has launched a new software product - Locate Laptop.
The product can reportedly locate stolen laptops leveraging the world wide web. It will also help organisations in tracking employee movements around the world.
" Laptop thefts and loss are on an incessant rise, and have led to serious damages for professionals and corporates. According to credible industry sources, 97% of stolen computers are never recovered and 57% corporate crimes are linked to them...all the more reason for corporates and professionals to be proactive and adopt preventive measures like Locate Laptop," said Alok Gupta, director, Unistal Systems.
Users have to install Locate Laptop on their computers where it resides and operates in stealth mode to be able to locate laptops in the event of a theft. They may login to their web-based personal tracking and monitoring page through www.locatelaptop.com to view and trace where their laptop has been accessed from.
Locate Laptop is available at all Unistal's authorised channel partners at Rs 3,000 ($55) per licence. It can also be bought online at http://www.locatelaptop.com . Unistal is also offering money back guarantee on the product to Indian customers, which states that they will get five times the cost of Locate Laptop software in case the laptop is not traceable.
The product can reportedly locate stolen laptops leveraging the world wide web. It will also help organisations in tracking employee movements around the world.
" Laptop thefts and loss are on an incessant rise, and have led to serious damages for professionals and corporates. According to credible industry sources, 97% of stolen computers are never recovered and 57% corporate crimes are linked to them...all the more reason for corporates and professionals to be proactive and adopt preventive measures like Locate Laptop," said Alok Gupta, director, Unistal Systems.
Users have to install Locate Laptop on their computers where it resides and operates in stealth mode to be able to locate laptops in the event of a theft. They may login to their web-based personal tracking and monitoring page through www.locatelaptop.com to view and trace where their laptop has been accessed from.
Locate Laptop is available at all Unistal's authorised channel partners at Rs 3,000 ($55) per licence. It can also be bought online at http://www.locatelaptop.com . Unistal is also offering money back guarantee on the product to Indian customers, which states that they will get five times the cost of Locate Laptop software in case the laptop is not traceable.
TVS launches Flame with modified engine
Chennai-based TVS Motor Company today launched its controversial 125cc motorcycle Flame, which has been accused by rival Bajaj Auto of infringing its patented technology, with a modified engine.
The company introduced the bike, priced at Rs 46,000 (ex-showroom across the country), with a single-spark ignition engine based on controlled combustion variable timing intelligent (CC-VTi) technology.
"TVS, in keeping with its tradition of breaking new ground in two-wheelers, is proud to have brought this world-class engine technology to India with the CCVTi engine. This engine has been developed and patented by AVL and licenced to TVS in India," chairman and managing director Venu Srinivasan said in a statement.
Madras High Court had stayed the Chennai-based company from producing and marketing the motorcycle that used the controversial technology.
TVS said its new Flame uses a "universally accepted and traditionally proven" single-spark plug ignition system.
Austria-based AVL is the world leader in internal combustion engine technology and develops power train systems. It is a leading provider of technology to the global engine and automotive industry.
The company introduced the bike, priced at Rs 46,000 (ex-showroom across the country), with a single-spark ignition engine based on controlled combustion variable timing intelligent (CC-VTi) technology.
"TVS, in keeping with its tradition of breaking new ground in two-wheelers, is proud to have brought this world-class engine technology to India with the CCVTi engine. This engine has been developed and patented by AVL and licenced to TVS in India," chairman and managing director Venu Srinivasan said in a statement.
Madras High Court had stayed the Chennai-based company from producing and marketing the motorcycle that used the controversial technology.
TVS said its new Flame uses a "universally accepted and traditionally proven" single-spark plug ignition system.
Austria-based AVL is the world leader in internal combustion engine technology and develops power train systems. It is a leading provider of technology to the global engine and automotive industry.
One million new jobs in India in 2008: Survey
It is good news for those fresh out of college or for those who are keen for a job change, as a leading HR consultancy firm has predicted one million new jobs in India this year.
Ma Foi Employment Trends Survey (METS), conducted by Ma Foi, one of India's largest HR consultancy firm has predicted a three per cent increase in employment in 2008.
The largest chunk of the new jobs according to the survey would be generated by hospitality sector which is riding high with the tourism boom in the country.
"The Hospitality sector will generate the maximum number of employment in 2008. 426,668 jobs are going to be generated by the Hospitality sector. This sector is closely followed by Health at 295,829 and Education Training & Consultancy at 166,005," says the survey.
It adds that an estimated USD 11.41 billion is expected to be seen in the Hospitality sector in the next two years and that India is likely to have around 40 international hotel brands by 2011.
"The boom in the tourism industry has had a cascading effect on the hospitality sector, which was a result of the increase in the occupancy ratios and average room rates. With the demand continuing to surge, many global hospitality majors have evinced a keen interest in the Indian hospitality sector," says K. Pandia Rajan, Managing Director, Ma Foi Management Consultants Ltd.
While, IT and ITES sector continues with high growth in recruitment at 7.3 and 7.2 per cent, the survey says that it is the Health sector which shows the highest growth in recruitment at 8.9 per cent.
Ma Foi Employment Trends Survey (METS), conducted by Ma Foi, one of India's largest HR consultancy firm has predicted a three per cent increase in employment in 2008.
The largest chunk of the new jobs according to the survey would be generated by hospitality sector which is riding high with the tourism boom in the country.
"The Hospitality sector will generate the maximum number of employment in 2008. 426,668 jobs are going to be generated by the Hospitality sector. This sector is closely followed by Health at 295,829 and Education Training & Consultancy at 166,005," says the survey.
It adds that an estimated USD 11.41 billion is expected to be seen in the Hospitality sector in the next two years and that India is likely to have around 40 international hotel brands by 2011.
"The boom in the tourism industry has had a cascading effect on the hospitality sector, which was a result of the increase in the occupancy ratios and average room rates. With the demand continuing to surge, many global hospitality majors have evinced a keen interest in the Indian hospitality sector," says K. Pandia Rajan, Managing Director, Ma Foi Management Consultants Ltd.
While, IT and ITES sector continues with high growth in recruitment at 7.3 and 7.2 per cent, the survey says that it is the Health sector which shows the highest growth in recruitment at 8.9 per cent.
BJP-RSS activists attack CPI(M) HQ
Communist Party of India-Marxist (CPI-M) general secretary Prakash Karat on Sunday condemned the “unprecedented” and “premeditated” attack on the party’s national headquarters here by activists of the Bharatiya Janata Party (BJP)-Rashtriya Swayamsevak Sangh (RSS) and demanded the immediate arrest of those behind the incident.
Five Central Committee members of the party — Hari Singh Kang, Jogendra Sharma, P.M.S. Grewal, V. Srinivasa Rao and Kumar Shiralkar — and some party workers were injured when BJP-RSS activists pelted stones at the A.K. Gopalan Bhawan here on Sunday. The incident evoked strong reactions from all political parties; they have demanded strong action against the culprits.
The incident took place in the afternoon when a meeting of the CPI(M)’s highest policy-making body — the Central Committee — was being held at the office. Panic gripped the entire Gole Market area where the building is situated. However, before more police personnel reached the spot, the attackers fled, leaving behind shattered window panes of the building and damaged cars parked on the premises.
Later, the police registered an FIR against senior BJP leaders, including its Delhi unit chief Harshvardhan, Mayor Aarti Mehra, and Leader of the Opposition in the Delhi Assembly Jagdish Mukhi, and arrested 15 BJP leaders.
Sitaram Yechury and Brinda Karat were among the prominent leaders who vehemently criticised the attack. Parties, including the constituents of the Left Front, the Congress, the Rashtriya Janata Dal and the Samajwadi Party demanded severe action against the culprits.
Addressing a press conference here, Mr. Karat said it was the first time that the headquarters of a prominent national political party was attacked in such a brutal manner. “It was a premeditated attack by the BJP and RSS workers who are now frustrated because of our growing popularity and acceptance of our good work. We are shocked to see how a premeditated attack was carried out at our headquarters when our Central Committee meeting was on,” he said.
Five Central Committee members of the party — Hari Singh Kang, Jogendra Sharma, P.M.S. Grewal, V. Srinivasa Rao and Kumar Shiralkar — and some party workers were injured when BJP-RSS activists pelted stones at the A.K. Gopalan Bhawan here on Sunday. The incident evoked strong reactions from all political parties; they have demanded strong action against the culprits.
The incident took place in the afternoon when a meeting of the CPI(M)’s highest policy-making body — the Central Committee — was being held at the office. Panic gripped the entire Gole Market area where the building is situated. However, before more police personnel reached the spot, the attackers fled, leaving behind shattered window panes of the building and damaged cars parked on the premises.
Later, the police registered an FIR against senior BJP leaders, including its Delhi unit chief Harshvardhan, Mayor Aarti Mehra, and Leader of the Opposition in the Delhi Assembly Jagdish Mukhi, and arrested 15 BJP leaders.
Sitaram Yechury and Brinda Karat were among the prominent leaders who vehemently criticised the attack. Parties, including the constituents of the Left Front, the Congress, the Rashtriya Janata Dal and the Samajwadi Party demanded severe action against the culprits.
Addressing a press conference here, Mr. Karat said it was the first time that the headquarters of a prominent national political party was attacked in such a brutal manner. “It was a premeditated attack by the BJP and RSS workers who are now frustrated because of our growing popularity and acceptance of our good work. We are shocked to see how a premeditated attack was carried out at our headquarters when our Central Committee meeting was on,” he said.
Monday, March 3, 2008
Govt readies for surge in dollar inflows
The finance ministry is preparing for huge dollar inflows next year as well, going by the provision for market stabilisation bonds (MSS) in 2008-09.
The MSS issuances budgeted for 2008-09 are Rs 2,55,806 crore, significantly higher than the estimate of Rs 1,41,135 crore in the 2007-08 Budget, and marginally lower than the actual issuance of Rs 2,71,903 crore in the financial year on account of equity investments by foreign institutional investors (FIIs) and overseas borrowings by companies.
Finance Minister P Chidambaram told Business Standard in an interview on Saturday that he does not know “which way the cat will jump” (meaning, whether there will be dollar inflows or outflows), so he is merely providing for the eventuality of inflows.
“If the interest rate differential remains large, more capital could flow into India. If there are payment obligations back home, capital could flow out of India. So we are just making sure that we are prepared to meet either eventuality,” the finance minister said.
Subir Gokarn, Chief Economist, Standard and Poor’s (Asia Pacific), said the higher MSS provision for 2008-09 reflects the government’s readiness to deal with an elevated level of capital inflows.
It also shows that the government is ready to check a sharper appreciation of the rupee, he added.
The rupee has appreciated around 14 per cent against the dollar in the past year. The finance ministry has, however, maintained that the appreciation has been around 6 per cent on a real effective exchange rate basis in 2007.
The MSS issuances are currently capped at Rs 2,50,000 crore, with Rs 2,35,000 crore set as the threshold for a review of the ceiling. The ceiling was raised four times in 2007-08 from less than Rs 1,00,000 crore at the beginning of the year. Total MSS bonds outstanding on February 22, 2008 stood at Rs 1,76,018 crore.
Money received through the MSS bonds issues is placed in an escrow account. The balances in this account are used only to redeem the bonds on maturity. The interest cost is borne by the government.
At the beginning of 2007-08, the budgetary allocation for interest payments on the MSS bonds was Rs 3,700 crore. The allocation was raised to Rs 8,351 crore. For 2008-09, the finance minister has made a provision of Rs 13,958 crore for such interest payments.
Rupa Nitsure-Rege, chief economist at Bank of Baroda, said: “At some point, overseas investors will have to look at China, India and other high-growth Asian economies for investments as developed economies face slowdown”.
Capital inflows have created difficulties in monetary management for the Reserve Bank of India which has struggled to defend the rupee and contain inflation.
Higher foreign exchange inflows have to be absorbed by the central bank to check the rupee from strengthening and this has to be followed by measures to absorb the resultant rupee liquidity to contain inflation.
In August 2007, the Reserve Bank of India (RBI) had restricted the end-use of overseas borrowings. This apart, fresh overseas borrowings above $20 million were restricted only for foreign currency expenditure.
In the first six months of the current financial year, gross external commercial borrowings (ECBs) rose, year-on-year, by 81.1 per cent to reach $14 billion.
Total portfolio flows into India — including proceeds of depository receipt issues and investments by FIIs — during April-December 2007 amounted to $32.8 billion against $7 billion in the whole of 2006-07.
The MSS issuances budgeted for 2008-09 are Rs 2,55,806 crore, significantly higher than the estimate of Rs 1,41,135 crore in the 2007-08 Budget, and marginally lower than the actual issuance of Rs 2,71,903 crore in the financial year on account of equity investments by foreign institutional investors (FIIs) and overseas borrowings by companies.
Finance Minister P Chidambaram told Business Standard in an interview on Saturday that he does not know “which way the cat will jump” (meaning, whether there will be dollar inflows or outflows), so he is merely providing for the eventuality of inflows.
“If the interest rate differential remains large, more capital could flow into India. If there are payment obligations back home, capital could flow out of India. So we are just making sure that we are prepared to meet either eventuality,” the finance minister said.
Subir Gokarn, Chief Economist, Standard and Poor’s (Asia Pacific), said the higher MSS provision for 2008-09 reflects the government’s readiness to deal with an elevated level of capital inflows.
It also shows that the government is ready to check a sharper appreciation of the rupee, he added.
The rupee has appreciated around 14 per cent against the dollar in the past year. The finance ministry has, however, maintained that the appreciation has been around 6 per cent on a real effective exchange rate basis in 2007.
The MSS issuances are currently capped at Rs 2,50,000 crore, with Rs 2,35,000 crore set as the threshold for a review of the ceiling. The ceiling was raised four times in 2007-08 from less than Rs 1,00,000 crore at the beginning of the year. Total MSS bonds outstanding on February 22, 2008 stood at Rs 1,76,018 crore.
Money received through the MSS bonds issues is placed in an escrow account. The balances in this account are used only to redeem the bonds on maturity. The interest cost is borne by the government.
At the beginning of 2007-08, the budgetary allocation for interest payments on the MSS bonds was Rs 3,700 crore. The allocation was raised to Rs 8,351 crore. For 2008-09, the finance minister has made a provision of Rs 13,958 crore for such interest payments.
Rupa Nitsure-Rege, chief economist at Bank of Baroda, said: “At some point, overseas investors will have to look at China, India and other high-growth Asian economies for investments as developed economies face slowdown”.
Capital inflows have created difficulties in monetary management for the Reserve Bank of India which has struggled to defend the rupee and contain inflation.
Higher foreign exchange inflows have to be absorbed by the central bank to check the rupee from strengthening and this has to be followed by measures to absorb the resultant rupee liquidity to contain inflation.
In August 2007, the Reserve Bank of India (RBI) had restricted the end-use of overseas borrowings. This apart, fresh overseas borrowings above $20 million were restricted only for foreign currency expenditure.
In the first six months of the current financial year, gross external commercial borrowings (ECBs) rose, year-on-year, by 81.1 per cent to reach $14 billion.
Total portfolio flows into India — including proceeds of depository receipt issues and investments by FIIs — during April-December 2007 amounted to $32.8 billion against $7 billion in the whole of 2006-07.
Sunday, March 2, 2008
MIT Creates Picture of NY Communications
For the past two months, 24 hours a day, MIT researchers have been collecting the electronic communications of millions of New Yorkers _ but not for salacious gossip or to protect national security.
They've been building a census that shows, neighborhood by neighborhood, New York's telephone and Internet links to other cities across the planet and how those connections change over time.
"Our cities and the globe are blanketed with flowing bits of digital data, and looking at this data, we're able to better understand the physical world," said Carlo Ratti, director of the SENSEable City Laboratory at the Massachusetts Institute of Technology.
Visualizations from the New York Talk Exchange (NYTE) project are part of a new exhibit at the Museum of Modern Art called "Design and the Elastic Mind." Open through May, the exhibition examines how designers use technology in ways that change lives.
Researchers stress that no information about individuals or actual conversations and messages are being collected. AT&T Inc. is giving MIT only aggregate data from its switches in the city.
The information reveals a trove of interesting population patterns. By looking at the neighborhoods where the data came from, researchers determined that New Yorkers who engage in global gab tend to be on the high end of the socio-economic scale or struggling to make ends meet. Translation: international business and professional people or poor immigrants.
"The striking piece of evidence coming out of this project is that global talk happens both at the top of the economy and at its lower end," Saskia Sassen, a Columbia University professor and globalization expert, wrote for the project catalog. "The vast middle layers of our society are far less global. The middle talks mostly nationally and locally."
The MIT team started monitoring billions of electronic streams flowing to and from New York about two months ago, relying on information provided by AT&T, one of the world's largest providers of communications services.
AT&T Labs, based in Murray Hill, N.J., collects the data on phone calls, e-mail messages, cyber-phone connections and Web browsing, then transfers only that information _ which has no personal, identifying details _ to MIT in Cambridge, Mass., for processing and analysis.
As the data accumulate over the next few months, the team hopes to see a reflection of human migration _ essentially, a snapshot of globalization.
Already, graphs on display at MoMA _ and on the Web _ show clusters of intense activity from New York to South America, the Caribbean, Canada, and parts of Europe and Africa, matching neighborhoods across the city with more than 170 ethnic groups.
Nayan Chanda, an expert on globalization, said such research "is absolutely worthwhile."
"This fast communication that links the world has made globalization much more intense and much more visible. It gives you a very valuable footprint of the extent to which a country is involved in global communications. It's interesting for demographers, for people studying economics, telecommunications and business," said Chanda, director of publications at the Yale Center for the Study of Globalization.
The first graph _ Globe Encounters _ uses 3-D real-time animations to show New York's links to world cities. The second _ Pulse of the Planet _ shows how those connections change as day turns to night across the planet. The third _ World Inside New York _ zooms into New York's five boroughs and explores how the global connections vary from neighborhood to neighborhood.
Among the findings:
_ Communication between Manhattan and the world surges each morning after the New York Stock Exchange opens.
_ From Manhattan, the most-called city is London, which represents about 8 percent of all calls overseas. The second most-called city from Manhattan is Santo Domingo, Dominican Republic, with more than 5 percent of all calls.
_ Half of all calls from Manhattan are to Canada, Great Britain, the Dominican Republic, Germany and Japan.
_ In Queens' ethnically diverse Flushing, almost 12 percent of data went to and from Seoul, South Korea, while 8 percent were with Porto, Portugal.
As other data flood in, the team hopes to answer questions like: How are global cities evolving? How does electronic communication across the globe affect travel? Can digital activity signal financial and other upheavals?
"In the end, the NYTE project reveals as much about the city of New York as it does about its worldwide counterparts, in areas such as business, culture and immigration," Ratti said. "In other words, our visualizations demonstrate that in the information age, urban life is as global as it is local."
They've been building a census that shows, neighborhood by neighborhood, New York's telephone and Internet links to other cities across the planet and how those connections change over time.
"Our cities and the globe are blanketed with flowing bits of digital data, and looking at this data, we're able to better understand the physical world," said Carlo Ratti, director of the SENSEable City Laboratory at the Massachusetts Institute of Technology.
Visualizations from the New York Talk Exchange (NYTE) project are part of a new exhibit at the Museum of Modern Art called "Design and the Elastic Mind." Open through May, the exhibition examines how designers use technology in ways that change lives.
Researchers stress that no information about individuals or actual conversations and messages are being collected. AT&T Inc. is giving MIT only aggregate data from its switches in the city.
The information reveals a trove of interesting population patterns. By looking at the neighborhoods where the data came from, researchers determined that New Yorkers who engage in global gab tend to be on the high end of the socio-economic scale or struggling to make ends meet. Translation: international business and professional people or poor immigrants.
"The striking piece of evidence coming out of this project is that global talk happens both at the top of the economy and at its lower end," Saskia Sassen, a Columbia University professor and globalization expert, wrote for the project catalog. "The vast middle layers of our society are far less global. The middle talks mostly nationally and locally."
The MIT team started monitoring billions of electronic streams flowing to and from New York about two months ago, relying on information provided by AT&T, one of the world's largest providers of communications services.
AT&T Labs, based in Murray Hill, N.J., collects the data on phone calls, e-mail messages, cyber-phone connections and Web browsing, then transfers only that information _ which has no personal, identifying details _ to MIT in Cambridge, Mass., for processing and analysis.
As the data accumulate over the next few months, the team hopes to see a reflection of human migration _ essentially, a snapshot of globalization.
Already, graphs on display at MoMA _ and on the Web _ show clusters of intense activity from New York to South America, the Caribbean, Canada, and parts of Europe and Africa, matching neighborhoods across the city with more than 170 ethnic groups.
Nayan Chanda, an expert on globalization, said such research "is absolutely worthwhile."
"This fast communication that links the world has made globalization much more intense and much more visible. It gives you a very valuable footprint of the extent to which a country is involved in global communications. It's interesting for demographers, for people studying economics, telecommunications and business," said Chanda, director of publications at the Yale Center for the Study of Globalization.
The first graph _ Globe Encounters _ uses 3-D real-time animations to show New York's links to world cities. The second _ Pulse of the Planet _ shows how those connections change as day turns to night across the planet. The third _ World Inside New York _ zooms into New York's five boroughs and explores how the global connections vary from neighborhood to neighborhood.
Among the findings:
_ Communication between Manhattan and the world surges each morning after the New York Stock Exchange opens.
_ From Manhattan, the most-called city is London, which represents about 8 percent of all calls overseas. The second most-called city from Manhattan is Santo Domingo, Dominican Republic, with more than 5 percent of all calls.
_ Half of all calls from Manhattan are to Canada, Great Britain, the Dominican Republic, Germany and Japan.
_ In Queens' ethnically diverse Flushing, almost 12 percent of data went to and from Seoul, South Korea, while 8 percent were with Porto, Portugal.
As other data flood in, the team hopes to answer questions like: How are global cities evolving? How does electronic communication across the globe affect travel? Can digital activity signal financial and other upheavals?
"In the end, the NYTE project reveals as much about the city of New York as it does about its worldwide counterparts, in areas such as business, culture and immigration," Ratti said. "In other words, our visualizations demonstrate that in the information age, urban life is as global as it is local."
New Radar Maps of the Moon
NASA has obtained new high-resolution radar maps of the Moon's south pole--a region the space agency is considering as a landing site when astronauts return to the Moon in the years ahead.
"We now know the south pole has peaks as high as Mt. McKinley and crater floors four times deeper than the Grand Canyon," says Doug Cooke, deputy associate administrator for the Exploration Systems Mission Directorate at NASA Headquarters. "These data will be an invaluable tool for advance planning of lunar missions."
Click on the image below to view a movie of the craggy landscape with simulated shadows twirling over the course of a complete lunar day:
"We now know the south pole has peaks as high as Mt. McKinley and crater floors four times deeper than the Grand Canyon," says Doug Cooke, deputy associate administrator for the Exploration Systems Mission Directorate at NASA Headquarters. "These data will be an invaluable tool for advance planning of lunar missions."
Click on the image below to view a movie of the craggy landscape with simulated shadows twirling over the course of a complete lunar day:
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