State-owned Bharat Sanchar Nigam Ltd (BSNL) might be back on track with its plans for its intial public offer (IPO). The public sector enterprise has put forward a proposal for approval of its IPO to its trade union which is expected to respond in positive by the 3rd of next month.
A statement released by the department of telecom today says " Unions will respond positively to suggestion for listing of BSNL before 3rd June, which will help BSNL in getting Navratna status which is very essential in order to maintain the image of BSNL and its survival and growth."
Meanwhile, BSNL Chairman and Managing Director Kuldeep Goyal last month had ruled out an IPO for the company in the near future. "The plan for the IPO is put in backburner right now. If there is a need for it, we will go for it. Right now we have sufficient funds with us," he had said. Earlier, Minister for Communication & IT, Thiru A Raja has also ruled out the possibility of an IPO earlier.
Commenting on the recent development, a BSNL senior executive said, that the plans for the IPO were still stagnant without any new development, however he could not comment on this latest release.
Industry analysts had estimated the BSNL to be valued at over Rs 4,00,000 crore. The plan was to divest 10 per cent through the IPO. The valuation of India's largest telecom company was estimated by analysts to stand at over Rs 4,00,000 crore, larger than the combined market capitalisation of Bharti Airtel Rs 1,16, 342 crore and Reliance Communications (RCom) at Rs1,19,125 respectively the second- and third- largest telecom companies.
The company had earlier attempted to go for the IPO in 2005 which did not happen due to the disapproval of the former Telecom Minister Dayanidhi Maran. The situation is still unclear with the new minister in power. However, according to the BSNL executive the decision is still under consideration as many tricky factors are involved in such a step. The final decision will be taken by the government, since it is a state-owned company.
Earlier this year, Goyal had said, "An IPO might be necessary for us as we will invest around Rs 60,000 crore in the medium-term basis." Regarding the initial public offer,he said before taking a final call on the issue it would be examined by all the stake holders, including the government.
BSNL is a pan-Indian telecom service provider, except for Mumbai and Delhi which is serviced by state-owned MTNL.
BSNL employees, under the banner of Joint Forum of BSNL Unions, have been staging protests against the compnay's management by not merging 50 per cent of IDA with the basic pay. Representatives of Trade Unions of BSNL met A Raja yesterday.
The meeting is understood to have ended on a positive note with a collective decision on some issues which included 50 per cent IDA merger orders that will be issued by BSNL. It was also decided that the promotion policy for non-executives will be decided within 3 months of issues of wage revision orders for executives of PSEs from the government. Such a time frame would help to avoid anomalies and conflicts between executive and non-executive pay scales.
Finally, it was also decided that no dharna or agitation will be held on these issues.
Saturday, May 31, 2008
Wednesday, May 28, 2008
Nepal is now a republic
King put on notice: Nepalese on Wednesday celebrate the end of monarchy, outside the convention centre in Kathmandu where the newly elected Constituent Assembly is meeting. The CA has given King Gyanendra 15 days to vacate the palace.
Nepal on Wednesday became a Federal Democratic Republic, ending the 240-year monarchy.
The newly elected 575-member Constituent Assembly (CA) unanimously passed a proposal tabled by Prime Minister Girija Prasad Koirala and gave the erstwhile King Gyanendra 15 days to vacate the Narayanhiti Royal Palace, which will soon be turned into a public museum.
The CA will now amend the Constitution and elect a President, along with a new Prime Minister. The political parties are yet to agree on the process to elect the President.
According to the agreement reached among the parties, the President will be the patron of the Constitution and the supreme commander of the army. He will also have the authority to impose emergency rule on the recommendation of the Cabinet.
Though the candidates for President and Prime Minister have not been named, it is almost a foregone conclusion that Maoists will get premiership and the Nepali Congress, President.
The other two largest parties — Communist Party of Nepal (UML) and Madhesi People’s Rights Forum — will bag the posts of CA chairman and Vice-President.
Though the Shah dynasty ruled unified Nepal for the last 240 years, it had been in the throne of the Gorkha kingdom since 1559. King Prithivi Narayan Shah initiated the unification drive in 1742 and conquered the Kathmandu Valley in 1768.
The story of the dynasty is a saga of triumph and tragedy. In the years after the unification of the kingdom, which was fragmented into more than 60 tiny principalities, the dynasty was marred by internal feuds, betrayals and killings.
The people’s faith in monarchy was shattered after the June 1, 2001 Royal Palace massacre that killed King Birendra and his entire family. However, it was King Gyanendra’s seizure of power on February 1, 2005 that triggered a chain of events, culminating in the declaration of the republic.
The People’s Movement in April 2006, jointly declared by the mainstream parties and the Maoists, who had waged a decade-long insurgency, forced King Gyanedra to give power back to people.
Tata Motors net up 6%
Tata Motors posted a 6 per cent increase in net profit for the financial year ended 31, March 2008 at Rs 2028.92 crore as against Rs 1913.46 crore for the previous financial year.
The company's revenues (net of excise) rose by 4.6 per cent for FY08 to Rs 28,730.82 crore compared to Rs 27,470 crore a year ago.
The company's margins were under pressure during the year due to rising interest rates, constraints in availability of vehicle financing from outside sources and increase in input costs.
Tata Motors said that there has been delay in introducing two products in the market.
The company's revenues (net of excise) rose by 4.6 per cent for FY08 to Rs 28,730.82 crore compared to Rs 27,470 crore a year ago.
The company's margins were under pressure during the year due to rising interest rates, constraints in availability of vehicle financing from outside sources and increase in input costs.
Tata Motors said that there has been delay in introducing two products in the market.
Tuesday, May 27, 2008
Big retail has small impact on mom-n-pop stores: Study
The growth of organised retail headed by large corporations does not significantly impact small mon-n-pop retailers, a long-awaited study by the Indian Council for Research on International Economic Relations (Icrier) concluded.
The study conducted for the government, following allegations that big retail was squeezing neigbourhood retailers out of business, showed that the latter's turnover and profit dropped 8 to 9 per cent initially, but the adverse impact weakened over five years.
Significantly, the report states that a total of 151 small shops have closed down over a period of 21 months, which is about 4.2 per cent of annual closure of retailers. However, only 62 of these shops attributed their closure directly to competition from organised retail.
Icrier Director and CEO Rajiv Kumar said the turnaround occurs as unorganised retailers adapt to the new challenge and formulate their own strategies in terms of technology upgrade and improvements in the supply chain.
The findings are likely to ease pressure on the UPA government, which has been warned by the Left parties not to succumb to the temptation to open up the retail sector to foreign investment.
On the domestic front, organised retailers have been opposed by several groups in states like Uttar Pradesh and elsewhere. In fact, UP had in mid-2007 banned the opening of new stores by retail chains like Reliance Retail, on the grounds that small traders will bear the brunt of the organised retail onslaught.
As much as 49 per cent of 1,999 sampled small retailers reported a decrease in turnover, while others reported no change or even an increase. The highest impact has been felt in west and north India.
In terms of product categories, the impact has been greater in textiles and clothing shops (46 per cent of the sample), and the least in fruit and vegetable hawkers (34 per cent).
The study conducted for the government, following allegations that big retail was squeezing neigbourhood retailers out of business, showed that the latter's turnover and profit dropped 8 to 9 per cent initially, but the adverse impact weakened over five years.
Significantly, the report states that a total of 151 small shops have closed down over a period of 21 months, which is about 4.2 per cent of annual closure of retailers. However, only 62 of these shops attributed their closure directly to competition from organised retail.
Icrier Director and CEO Rajiv Kumar said the turnaround occurs as unorganised retailers adapt to the new challenge and formulate their own strategies in terms of technology upgrade and improvements in the supply chain.
The findings are likely to ease pressure on the UPA government, which has been warned by the Left parties not to succumb to the temptation to open up the retail sector to foreign investment.
On the domestic front, organised retailers have been opposed by several groups in states like Uttar Pradesh and elsewhere. In fact, UP had in mid-2007 banned the opening of new stores by retail chains like Reliance Retail, on the grounds that small traders will bear the brunt of the organised retail onslaught.
As much as 49 per cent of 1,999 sampled small retailers reported a decrease in turnover, while others reported no change or even an increase. The highest impact has been felt in west and north India.
In terms of product categories, the impact has been greater in textiles and clothing shops (46 per cent of the sample), and the least in fruit and vegetable hawkers (34 per cent).
Monday, May 26, 2008
Bartronics deploys RFID wrist band in US
Bartronics America Inc, a wholly-owned subsidiary of Hyderabad-based provider of automatic identification and data capture (AIDC) and radio frequency identification (RFID) solutions Bartronics India Limited, has implemented its patent-winning RFID-based wrist band for automating patient medication process in the US.
The RFID-based wrist band, the first-of-its-kind to be implemented successfully, assists nurses by automating the process of administering patient medication. The device was used in a clinical trial involving cancer patients at the Halifax Health Medical Centre in the US. About 95 percent of the patients involved in the study found the device easy to use and they were better able to control the pain by using it rather than relying on nurses to provide the pills. Almost 84 percent of the nurses involved in the study said it saved them time, Bartronics said.
During the programming process, the data on a patient's oral medication prescription dosage and frequency is entered. Every nurse carries a personal identification card, which is again based on RFID technology. In response to reading the card, the body of the medication-on-demand (MoD) device allows the nurse to remove an empty pill tray or insert a full one.
When the patient holds the wristband up to the device, he selects the number on a sliding dial to indicate the pain level, on a scale of 1 to 10. This prompts the MoD to dispense pain medication.
"Besides healthcare, the leisure and entertainment space, transportation sector and the education sector offer a $2 billion ( Rs 8,000 crore) opportunity for Bartronics in the coming years," Sudhir Rao, managing director of Bartronics India, said. For the financial year 2008-09, Bartronics America expects to generate revenues in excess of $40 million (Rs 160 crore).
The RFID-based wrist band, the first-of-its-kind to be implemented successfully, assists nurses by automating the process of administering patient medication. The device was used in a clinical trial involving cancer patients at the Halifax Health Medical Centre in the US. About 95 percent of the patients involved in the study found the device easy to use and they were better able to control the pain by using it rather than relying on nurses to provide the pills. Almost 84 percent of the nurses involved in the study said it saved them time, Bartronics said.
During the programming process, the data on a patient's oral medication prescription dosage and frequency is entered. Every nurse carries a personal identification card, which is again based on RFID technology. In response to reading the card, the body of the medication-on-demand (MoD) device allows the nurse to remove an empty pill tray or insert a full one.
When the patient holds the wristband up to the device, he selects the number on a sliding dial to indicate the pain level, on a scale of 1 to 10. This prompts the MoD to dispense pain medication.
"Besides healthcare, the leisure and entertainment space, transportation sector and the education sector offer a $2 billion ( Rs 8,000 crore) opportunity for Bartronics in the coming years," Sudhir Rao, managing director of Bartronics India, said. For the financial year 2008-09, Bartronics America expects to generate revenues in excess of $40 million (Rs 160 crore).
Ashok Leyland forms 3 JVs with Nissan
Commercial vehicle maker and Hinduja Group flagship company Ashok Leyland and Nissan Motor have formed a joint venture for the light commercial vehicle (LCV) business in India for vehicle manufacturing, powertrain manufacturing and technology development.
This follows the signing of the master co-operation agreement between the two companies in October 2007.
In Ashok Leyland Nissan Vehicles, the vehicle manufacturing company, Ashok Leyland will own 51 per cent and Nissan Motor 49 per cent. In Nissan Ashok Leyland Powertrain, Nissan will hold 51 per cent and Ashok Leyland will hold 49 per cent. Both the companies will be equal partners in Nissan Ashok Leyland Techonologies, the technology development company.
The aggregate investment in all three companies will be around Rs 2,415 crore. The enterprise will involve a capacity of 100,000 vehicles in the first phase and will be scaled up subsequently. The plant is expected to start production from 2010-11.
R Seshasayee, managing director, Ashok Leyland said, "The current growth plans of Ashok Leyland involve not only our slated capacity additions and new product launches but also our entry into fast-growing LCV segment."
This follows the signing of the master co-operation agreement between the two companies in October 2007.
In Ashok Leyland Nissan Vehicles, the vehicle manufacturing company, Ashok Leyland will own 51 per cent and Nissan Motor 49 per cent. In Nissan Ashok Leyland Powertrain, Nissan will hold 51 per cent and Ashok Leyland will hold 49 per cent. Both the companies will be equal partners in Nissan Ashok Leyland Techonologies, the technology development company.
The aggregate investment in all three companies will be around Rs 2,415 crore. The enterprise will involve a capacity of 100,000 vehicles in the first phase and will be scaled up subsequently. The plant is expected to start production from 2010-11.
R Seshasayee, managing director, Ashok Leyland said, "The current growth plans of Ashok Leyland involve not only our slated capacity additions and new product launches but also our entry into fast-growing LCV segment."
Friday, May 23, 2008
Videocan likely to buy Motorola' handset biz
Diversified business group Videocon today said its talks to buy out the mobile handset business of US-based Motorola are at 'initial' stages.
"The talks with Motorola are at very initial stage," group CMD Venugopal Dhoot said at an Assocham seminar here, while declined to give a deadline for the deal.
With Motorola planning to separate its mobile business from other operations, consumer electronics major Videocon had said that it had bid to acquire Motorola's mobile handset business.
According to analysts, Motorola's handset business is worth about $3.8 billion and its handsets account for 15 per cent market share globally.
Videocon is in the race for Motorola's handsets as the company feels the company will have synergy with its upcoming telecom services operations with such a business under its fold.
The company has got licences for 22 circles and will be launching the services in the circles soon, through its subsidiary Datacom.
Videocon recently said it would start rolling out telecom network from mid-August and is eyeing to garner about 10 per cent market share in the Indian telecom market in five years.
Videocon, which has got licence for pan-India operations, has got spectrum in three circles and is awaiting for the rest.
The company is also ambitious about 3G services. "With our technical tie-up with various companies it would be very easy for us to roll out 3G also as soon as the government announces," he added.
"The talks with Motorola are at very initial stage," group CMD Venugopal Dhoot said at an Assocham seminar here, while declined to give a deadline for the deal.
With Motorola planning to separate its mobile business from other operations, consumer electronics major Videocon had said that it had bid to acquire Motorola's mobile handset business.
According to analysts, Motorola's handset business is worth about $3.8 billion and its handsets account for 15 per cent market share globally.
Videocon is in the race for Motorola's handsets as the company feels the company will have synergy with its upcoming telecom services operations with such a business under its fold.
The company has got licences for 22 circles and will be launching the services in the circles soon, through its subsidiary Datacom.
Videocon recently said it would start rolling out telecom network from mid-August and is eyeing to garner about 10 per cent market share in the Indian telecom market in five years.
Videocon, which has got licence for pan-India operations, has got spectrum in three circles and is awaiting for the rest.
The company is also ambitious about 3G services. "With our technical tie-up with various companies it would be very easy for us to roll out 3G also as soon as the government announces," he added.
Thursday, May 22, 2008
Numero 'uno' on invention list
Canadian teenager Ben Gulak got a bit of a head start on his training in mechanical engineering. As an incoming freshman in the MIT Class of 2012, he's already been featured on the cover of Popular Science magazine for having come up with one of the year's top 10 inventions.
In fact, his was number one.
Gulak, who is just 18, will also be a guest on the Tonight Show with Jay Leno later this month, demonstrating his unique electric unicycle-like vehicle. He has been working on the project for two years, initially as a science fair project that made it all the way to second place in the Intel International Science and Engineering Fair (where he also won a special award for the project with the most marketability).
Gulak first applied to MIT last year, but was waitlisted and decided to take a year off rather than settle for another school. So he spent the intervening year working on his invention--designed to be a practical commuting vehicle for dense urban areas--before applying again to MIT.
"The perspective that MIT brings to engineering is really unique," he says. "I really like the experience that MIT brings to engineering, especially the hands-on approach."
The inspiration for the cycle came when Gulak visited China in 2006 and was amazed at the overwhelming pollution that completely blocked the view of the surrounding country as his airplane came in for landing. He realized that much of that smog was coming from the thousands of motor scooters whizzing through the streets and figured that there had to be a better way.
The design he came up with has two wheels mounted side by side, very close together, and powered by electric motors. A computerized control system keeps the vehicle balanced, in a system similar to the Segway personal transporter. But unlike that vehicle, which is ridden in a standing position and is not considered a street vehicle, Gulak's "Uno" is ridden like a motorcycle and designed for ordinary roads.
Operating the Uno is so simple that it requires no controls at all. There is only an on-off switch. Once it's on, the driver accelerates by leaning forward, stops by leaning back, and steers by leaning to the side. By sitting upright, the driver can balance in one spot.
Gulak, who grew up just outside Toronto, has been tinkering most of his life. He started working with machine tools with his grandfather, who had a fully equipped machine shop in his house, "as early as I can remember, certainly by the time I was 5," he says. When his grandfather died in 2004, Gulak inherited all the equipment. "I only wish he was here now, for all the things that are going on," he says. "The more I get into engineering, the more I miss him."
Gulak knows that despite his achievements so far, he still has a lot to learn, and that's why he was determined to study at MIT, where he plans to take a dual major in mechanical engineering and business. But he's not abandoning his pet project: He has already formed a company to develop the Uno, set up a web site and filed for patents in several countries (the United States, Canada and the European Union for starters). And as a result of the recent publicity he has already started to get calls from "quite a few investors," some able to provide production facilities for the vehicle.
When he found out Jay Leno wanted him on his show, Gulak rushed to complete a whole new version of his prototype bike, incorporating several new features in time to demonstrate it on the program.
Why bother with school with such business prospects already in front of him? Gulak takes the long view. "I think the Uno has a lot of possibilities, and people really seem to like it. The reaction from the public and the press has been quite overwhelming. However, I really wouldn't want to jeopardize my future or limit my options by just going ahead without getting a degree. So I'm very committed to coming in the fall--MIT has a lot to offer and I'm really looking forward to it.
"The Uno has taught me how important it is to have a deep and varied knowledge base and a solid grounding in all the basic engineering principles," he says. "When I was working on the bike, much of what I learned came through through trial and error, so I know first hand the value and importance of increasing my knowledge base through education."
Wednesday, May 21, 2008
FORTUNE America's Most Admired Companies 2008
Rank Company
1 Apple
2 Berkshire Hathaway
3 General Electric
4 Google
5 Toyota Motor
6 Starbucks
7 FedEx
8 Procter & Gamble
9 Johnson & Johnson
10 Goldman Sachs Group
11 Target
12 Southwest Airlines
13 American Express
14* BMW
14* Costco Wholesale
16 Microsoft
17 United Parcel Service
18 Cisco Systems
19 3M
20 Nordstrom
1 Apple
2 Berkshire Hathaway
3 General Electric
4 Google
5 Toyota Motor
6 Starbucks
7 FedEx
8 Procter & Gamble
9 Johnson & Johnson
10 Goldman Sachs Group
11 Target
12 Southwest Airlines
13 American Express
14* BMW
14* Costco Wholesale
16 Microsoft
17 United Parcel Service
18 Cisco Systems
19 3M
20 Nordstrom
Motorola bags $90 mn BSNL order
US based telecom equipment manufacturer Motorola has bagged a $90 million GSM contract from state-owned Bharat Sanchar Nigam Limited.
The US company will provide equipments for BSNL's network expansion in southern India aimed at adding 2.3 million subscribers in the region, it said in a statement.
Under the terms of the contract, Motorola will ship GSM network equipment and provide a network services programme including both software and hardware support, the statement added.
Supply of equipment had already begun in April and would significantly help BSNL in the required capacity enhancement, the statement said.
Subhendu Mohanty, country head for Home and Networks Mobility, Motorola India said, "We will endeavour to grow our market engagements and deliver maximum value to our customers, be it serving their current needs or planning for future growth".
The telecom major's existing network in the southern region already includes 2G equipment supplied by Motorola. Last year, Motorola was disqualified in the mega 23.5 million GSM contract on technical grounds in which Ericsson emerged as the top bidder.
The US company will provide equipments for BSNL's network expansion in southern India aimed at adding 2.3 million subscribers in the region, it said in a statement.
Under the terms of the contract, Motorola will ship GSM network equipment and provide a network services programme including both software and hardware support, the statement added.
Supply of equipment had already begun in April and would significantly help BSNL in the required capacity enhancement, the statement said.
Subhendu Mohanty, country head for Home and Networks Mobility, Motorola India said, "We will endeavour to grow our market engagements and deliver maximum value to our customers, be it serving their current needs or planning for future growth".
The telecom major's existing network in the southern region already includes 2G equipment supplied by Motorola. Last year, Motorola was disqualified in the mega 23.5 million GSM contract on technical grounds in which Ericsson emerged as the top bidder.
Tuesday, May 20, 2008
RIL's employee base doubles in 2 yrs
Mukesh Ambani-led Reliance Industries, the country's most valued entity, has more than doubled its employee base in the past two fiscal years to over 25,000 people.
Besides, in its efforts to make the employees part of its growth story, RIL disclosed having granted close to three crore stock options to over 14,000 employees, estimated to be worth about one billion dollar at the grant price and about $1.9 billion at the current share price.
Its head count rose to 25,487 at the end of 2007-08, up from 12,540 employees two years ago as on March 2006.
However, during the fiscal 2007-08, the head count rose by just about 800 employees from 24,696 as on March 2007, while the company's employee cost rose by about Rs 25 crore during the year, according to RIL's latest annual report to the shareholders.
The company has seen its workforce swelling for four consecutive years now. Prior to that, the head count had fallen in 2003-04 by more than 1,500 employees. While in 2002-03, it rose by close to 50 employees, it had fallen for four straight years between 1998-99 and 2001-02.
RIL said in its annual report that its employee cost rose to Rs 2,119 crore in FY'07-08, up from Rs 2,094 crore.
The previous year's figure includes Rs 376 crore towards expenditure incurred on Voluntary Retirement Scheme/Special Separation Scheme in the erstwhile IPCL's Vadodara unit.
The company, which has become the first private sector company in India to have a cash profit of over Rs 25,000 crore, said that one of the "key" reasons for the exponential growth of Reliance is undoubtedly its "people". RIL figures among 25 largest employers in India.
Besides, in its efforts to make the employees part of its growth story, RIL disclosed having granted close to three crore stock options to over 14,000 employees, estimated to be worth about one billion dollar at the grant price and about $1.9 billion at the current share price.
Its head count rose to 25,487 at the end of 2007-08, up from 12,540 employees two years ago as on March 2006.
However, during the fiscal 2007-08, the head count rose by just about 800 employees from 24,696 as on March 2007, while the company's employee cost rose by about Rs 25 crore during the year, according to RIL's latest annual report to the shareholders.
The company has seen its workforce swelling for four consecutive years now. Prior to that, the head count had fallen in 2003-04 by more than 1,500 employees. While in 2002-03, it rose by close to 50 employees, it had fallen for four straight years between 1998-99 and 2001-02.
RIL said in its annual report that its employee cost rose to Rs 2,119 crore in FY'07-08, up from Rs 2,094 crore.
The previous year's figure includes Rs 376 crore towards expenditure incurred on Voluntary Retirement Scheme/Special Separation Scheme in the erstwhile IPCL's Vadodara unit.
The company, which has become the first private sector company in India to have a cash profit of over Rs 25,000 crore, said that one of the "key" reasons for the exponential growth of Reliance is undoubtedly its "people". RIL figures among 25 largest employers in India.
Monday, May 19, 2008
Jet to discuss Datta's future on May 23
Jet Airways has convened a board meeting on Friday, May 23, which is expected to consider the future of Executive Director Saroj K Datta, who, sources said, may exit the airline after May 31.
Chairman Naresh Goyal, who was in Mumbai last week, reportedly discussed the issue with Datta, a veteran of over 46 years in the airline industry.
Jet Airways has officially strongly denied Datta's exit. In an interview to Business Standard a few weeks ago Datta, however, was non-committal. "I have been in this sector for 46 years. Is that not long enough?" he asked.
On the specific question of whether he was leaving, Datta merely said: "I do not want to comment on speculation. I will talk about it when the time comes.''
Insiders said if Datta leaves it will primarily be for personal reasons and the fact that he has worked for so many decades in Jet rather than reported opposition to the airline's policy to hire expatriate managers.
Chairman Naresh Goyal, who was in Mumbai last week, reportedly discussed the issue with Datta, a veteran of over 46 years in the airline industry.
Jet Airways has officially strongly denied Datta's exit. In an interview to Business Standard a few weeks ago Datta, however, was non-committal. "I have been in this sector for 46 years. Is that not long enough?" he asked.
On the specific question of whether he was leaving, Datta merely said: "I do not want to comment on speculation. I will talk about it when the time comes.''
Insiders said if Datta leaves it will primarily be for personal reasons and the fact that he has worked for so many decades in Jet rather than reported opposition to the airline's policy to hire expatriate managers.
Friday, May 16, 2008
Nano component suppliers ask Tata to up price
Pressure is growing on Tata Motors' ability to hold the price tag of Rs 1 lakh for the Nano with leading auto-component suppliers saying they have approached the company for a price increase.
With steel prices soaring, the company recently set up a special team to look at ways and means to control the car's manufacturing costs.
Now Delhi-based Sona Koyo, which is supplying steering systems for the Nano, and Minda Group, which supplies electrical switches, have confirmed that they and other component suppliers have suggested a price rise to Tata Motors.
"All component suppliers to the Nano are reassessing the price hike and our message will be conveyed to Tata Motors," said Surinder Kapoor, chairman and managing director of the Sona Group.
"We have not heard anything from Tata Motors yet," he added.
Kapoor pointed out that costs have risen substantially since December and the recent cut in steel product prices has brought little relief. "There is hardly any leeway," he said.
A Tata Motors spokesperson, however, declined to comment. "Like any other company, the terms between Tata Motors and its suppliers are confidential," the spokesperson said.
Steel accounts for 15 to 20 per cent of the cost of an entry-level car (about 500 kg of steel is used). Government intervention saw prices of hot- and cold-rolled coils, which are used to make the outer body of the car, being lowered last week by Rs 500 to Rs 750 a tonne.
Prices of alloy steel, which accounts for over 60 per cent of the total steel used in a car, have not been cut. Carbon steel, a type of alloy steel, has seen prices rise 22 per cent to Rs 43,150 a tonne on April 1, 2008, from Rs 33,550 a tonne on October 1, 2007.
Most component manufacturers believe that since the car is yet to go into production – the schedule is Diwali – they are optimistic that Tata Motors will reconsider component prices.
"We are holding discussions with Tata Motors. They have not agreed to our hike in prices but we are optimistic that prices should be revisited once production of the car starts. The hike so far has been unbearable," said N K Minda, chairman, Minda Group.
Vishnu Mathur, executive director, Component Manufacturers Association (ACMA), said, "The price cuts by steel players have been largely irrelevant for the auto industry."
"The price rise by the steel industry over the past few months has been much higher than the recent cuts," added an industry expert.
Disappointed by the government's lack of initiative towards the automotive industry, ACMA will send the government a petition in the next couple of days seeking a duty cut on alloy steel.
With steel prices soaring, the company recently set up a special team to look at ways and means to control the car's manufacturing costs.
Now Delhi-based Sona Koyo, which is supplying steering systems for the Nano, and Minda Group, which supplies electrical switches, have confirmed that they and other component suppliers have suggested a price rise to Tata Motors.
"All component suppliers to the Nano are reassessing the price hike and our message will be conveyed to Tata Motors," said Surinder Kapoor, chairman and managing director of the Sona Group.
"We have not heard anything from Tata Motors yet," he added.
Kapoor pointed out that costs have risen substantially since December and the recent cut in steel product prices has brought little relief. "There is hardly any leeway," he said.
A Tata Motors spokesperson, however, declined to comment. "Like any other company, the terms between Tata Motors and its suppliers are confidential," the spokesperson said.
Steel accounts for 15 to 20 per cent of the cost of an entry-level car (about 500 kg of steel is used). Government intervention saw prices of hot- and cold-rolled coils, which are used to make the outer body of the car, being lowered last week by Rs 500 to Rs 750 a tonne.
Prices of alloy steel, which accounts for over 60 per cent of the total steel used in a car, have not been cut. Carbon steel, a type of alloy steel, has seen prices rise 22 per cent to Rs 43,150 a tonne on April 1, 2008, from Rs 33,550 a tonne on October 1, 2007.
Most component manufacturers believe that since the car is yet to go into production – the schedule is Diwali – they are optimistic that Tata Motors will reconsider component prices.
"We are holding discussions with Tata Motors. They have not agreed to our hike in prices but we are optimistic that prices should be revisited once production of the car starts. The hike so far has been unbearable," said N K Minda, chairman, Minda Group.
Vishnu Mathur, executive director, Component Manufacturers Association (ACMA), said, "The price cuts by steel players have been largely irrelevant for the auto industry."
"The price rise by the steel industry over the past few months has been much higher than the recent cuts," added an industry expert.
Disappointed by the government's lack of initiative towards the automotive industry, ACMA will send the government a petition in the next couple of days seeking a duty cut on alloy steel.
Thursday, May 15, 2008
A startup is planning human trials for a nanostructured material that quickly stops bleeding.
A startup based in Cambridge, MA, says that it plans to soon begin clinical trials of a nanostructured material that stops bleeding almost instantly. A startup called Arch Therapeutics has licensed the technology from MIT and is developing manufacturing processes for making it in large amounts.
The new material can be poured over a site and will stop the bleeding almost at once.
The first application, pending Food and Drug Administration approval, will be for use during surgery to quickly stop bleeding and even prevent it in the first place. Floyd Loop, currently an advisor to Arch Therapeutics, and formerly a cardiovascular surgeon and the head of Cleveland Clinic, says that it could be useful in a wide variety of surgeries, including brain, heart, and prostate. For example, he says that when large tumors are removed, "there's a lot of diffuse bleeding around the site, and you have to spend a lot of time with sponges and cautery stopping it."
Loops says that in addition to saving time, which can improve the outcome of a surgery, the material could decrease the need for transfusions and reoperations to control bleeding. What's more, it could reduce the risk of infection. It could be used, for instance, to prevent leakage after bowel-repair surgery. "I've never seen anything like it," Loop says.
Eventually, the material could be used by first responders to stop bleeding at accident sites and on the battlefield. It has a long shelf life, which makes it attractive for use in first-aid kits. It's also easily broken down by the body, so it doesn't have to be removed, unlike other agents for stopping blood flow. However, Loop cautions that further tests are needed to confirm that the material will work in nonsurgical applications.
The material, a synthetic peptide, was discovered at MIT in the early 1990s. But it wasn't until a few years ago that its potential for stopping bleeding was discovered. Rutledge Ellis-Behnke, a researcher at MIT's Department of Brain and Cognitive Sciences, was exploring its potential use to promote the healing of brain injuries. When he applied a liquid containing the synthetic peptides to a wound site in animal experiments, bleeding in the area stopped within a few seconds. Arch Therapeutics was founded in mid-2006 to develop the material for commercial use. The company made its first public appearance late last month when it announced a finalized licensing agreement for the new technology.
Wednesday, May 14, 2008
Tata group moves to secure key companies
The Tata group, India's second-largest private conglomerate with 98 companies, plans to increase the promoter stake in half-a-dozen globally-active subsidiaries by three to four per cent through creeping acquisitions and preferential bond and warrant issues in the current financial year to defend them from predatory attacks.
The companies in the list include those that have made significant global acquisitions and are the group's most valued companies – Tata Steel (which acquired Corus in 2007), Tata Chemicals (General Chemical Industrial Products earlier this year), Tata Motors (Jaguar and Land Rover early this year), Tata Power Company (30 per cent in Bumi Resources in 2007) and Tata Tea (33 per cent in Joekels Tea and JEMCA in 2006).
The group has periodically made statements about raising its stakes in key companies but had not outlined specific targets so far.
At present, barring Tata Tea, the promoter holding in the globally active companies is below 35 per cent (see table). The promoters have limited themselves to 3 to 4 per cent this year in order to stay within the creeping acquisition limit of 5 per cent.
Under Securities and Exchange Board of India guidelines, however, promoters are not allowed to increase their stake beyond 55 per cent through creeping acquisition and preferential allotment.
"Though there is no hostile acquisition threat for these companies as of now, the group wants to make it clear that the group companies are not vulnerable to any predatory intentions," said sources close to the developments.
At current market capitalisation, acquiring 3 to 4 per cent in these companies will entail investments between Rs 4,000 crore and Rs 5,400 crore. Current market conditions are also seen conducive for buying back shares at a lower price.
When contacted, the group spokesperson said, "Tata Sons does not wish to comment on such speculation."
Tata Sons is the main company through which the promoters hold shares in the group companies but it was not clear how the stake will be raised. One option is to let group companies consolidate their position though there will be significant cross-holdings.
Last week, Tata Power announced that it will raise over Rs 1,400 crore through issue of shares to its promoter Tata Sons upon conversion of 10.3 million warrants. Last year, the board of Tata Power had approved the allotment of 9.89 million equity shares and 10.3 million warrants to Tata Sons.
In 2006, Tata Sons chairman Ratan Tata had said that the promoters will raise their stake in Tata Steel by around 7 per cent through a preferential issue of shares. The move came soon after steel tycoon LN Mittal launched a hostile takeover and later acquired French steel giant Arcelor.
The companies in the list include those that have made significant global acquisitions and are the group's most valued companies – Tata Steel (which acquired Corus in 2007), Tata Chemicals (General Chemical Industrial Products earlier this year), Tata Motors (Jaguar and Land Rover early this year), Tata Power Company (30 per cent in Bumi Resources in 2007) and Tata Tea (33 per cent in Joekels Tea and JEMCA in 2006).
The group has periodically made statements about raising its stakes in key companies but had not outlined specific targets so far.
At present, barring Tata Tea, the promoter holding in the globally active companies is below 35 per cent (see table). The promoters have limited themselves to 3 to 4 per cent this year in order to stay within the creeping acquisition limit of 5 per cent.
Under Securities and Exchange Board of India guidelines, however, promoters are not allowed to increase their stake beyond 55 per cent through creeping acquisition and preferential allotment.
"Though there is no hostile acquisition threat for these companies as of now, the group wants to make it clear that the group companies are not vulnerable to any predatory intentions," said sources close to the developments.
At current market capitalisation, acquiring 3 to 4 per cent in these companies will entail investments between Rs 4,000 crore and Rs 5,400 crore. Current market conditions are also seen conducive for buying back shares at a lower price.
When contacted, the group spokesperson said, "Tata Sons does not wish to comment on such speculation."
Tata Sons is the main company through which the promoters hold shares in the group companies but it was not clear how the stake will be raised. One option is to let group companies consolidate their position though there will be significant cross-holdings.
Last week, Tata Power announced that it will raise over Rs 1,400 crore through issue of shares to its promoter Tata Sons upon conversion of 10.3 million warrants. Last year, the board of Tata Power had approved the allotment of 9.89 million equity shares and 10.3 million warrants to Tata Sons.
In 2006, Tata Sons chairman Ratan Tata had said that the promoters will raise their stake in Tata Steel by around 7 per cent through a preferential issue of shares. The move came soon after steel tycoon LN Mittal launched a hostile takeover and later acquired French steel giant Arcelor.
Tuesday, May 13, 2008
Four undergraduates win $25,000 prize in Google mobile software competition
Four MIT undergraduates shared a $25,000 prize as round one winners in Google's Android Developer Challenge, a worldwide open competition for software developers based off Google's Android software stack for mobile applications.
The students--sophomore Clare Bayley and seniors Carter Jernigan, Jasper Lin and Christina Wright--were awarded the prize for their term project in 6.087/6.081: "Building Mobile Applications with Android."
The winning project, "Locale," lets cell-phone users manage settings on their mobile devices. Unlike normal settings managers, Locale can automatically change settings based your current location, for example turning the ringer to vibrate when you enter work or class, or automatically forwarding calls to a landline when you are at home.
6.087/6.081 is an experimental course offered this semester by the EECS department in cooperation with MIT's Information Services and Technology (IS&T). The course was taught by EECS Professor Hal Abelson with the assistance of Andrew Yu, manager of IS&T's mobile-devices platform project. The course taught how to pick a project idea and rapidly bring it to fruition through the prototype phase.
One noteworthy feature of the course was its use of mentors--professional application developers from the Boston-area software developer community who volunteered to work with the teams. The mentor for the Locale team was Eric Carlson of ConnectedBits.
Locale was one of 50 winning projects selected from a field of 1,800 entries. As round one winners, the MIT students are eligible to compete for higher levels in the challenge, leading to prizes of up to $275,000.
The students--sophomore Clare Bayley and seniors Carter Jernigan, Jasper Lin and Christina Wright--were awarded the prize for their term project in 6.087/6.081: "Building Mobile Applications with Android."
The winning project, "Locale," lets cell-phone users manage settings on their mobile devices. Unlike normal settings managers, Locale can automatically change settings based your current location, for example turning the ringer to vibrate when you enter work or class, or automatically forwarding calls to a landline when you are at home.
6.087/6.081 is an experimental course offered this semester by the EECS department in cooperation with MIT's Information Services and Technology (IS&T). The course was taught by EECS Professor Hal Abelson with the assistance of Andrew Yu, manager of IS&T's mobile-devices platform project. The course taught how to pick a project idea and rapidly bring it to fruition through the prototype phase.
One noteworthy feature of the course was its use of mentors--professional application developers from the Boston-area software developer community who volunteered to work with the teams. The mentor for the Locale team was Eric Carlson of ConnectedBits.
Locale was one of 50 winning projects selected from a field of 1,800 entries. As round one winners, the MIT students are eligible to compete for higher levels in the challenge, leading to prizes of up to $275,000.
Monday, May 12, 2008
IISc. helps raise missiles range
Missiles such as the Agni that was test-fired last week could receive a bigger boost to their range thanks to a technological innovation by scientists at the Indian Institute of Science.
By coating the nose of the missile with a layer of chromium, scientists at the Department of Aerospace Engineering and Department of Inorganic and Physical Chemistry have demonstrated how the missile’s range could be increased by 30 per cent — without any increase in fuel expenditure.
The chromium coating reduces the aerodynamic drag encountered by the vehicle by up to 47 per cent, said K.P.J. Reddy from the Department of Aerospace Engineering. He led the team of scientists in this project.
He said: “As the chromium coating evaporates with the enormous frictional heat generated during hypersonic flight, it reacts with the oxygen atoms present in the atmosphere and produces chromium oxide. This reaction is exothermic, that is producing more heat, thereby decreasing the density of the air around the nose of the missile. As the pressure reduces, so does the drag force, which in turn enables the missile to increase its range.”
While the nose of the missile is conventionally blunted in order to reduce the problem of heating, this increases drag, which considerably reduces the range. “Large amounts of fuel are needed to compensate for the drag and to give the vehicle thrust. With this technology, we increase the range without using additional fuel.”
By coating the nose of the missile with a layer of chromium, scientists at the Department of Aerospace Engineering and Department of Inorganic and Physical Chemistry have demonstrated how the missile’s range could be increased by 30 per cent — without any increase in fuel expenditure.
The chromium coating reduces the aerodynamic drag encountered by the vehicle by up to 47 per cent, said K.P.J. Reddy from the Department of Aerospace Engineering. He led the team of scientists in this project.
He said: “As the chromium coating evaporates with the enormous frictional heat generated during hypersonic flight, it reacts with the oxygen atoms present in the atmosphere and produces chromium oxide. This reaction is exothermic, that is producing more heat, thereby decreasing the density of the air around the nose of the missile. As the pressure reduces, so does the drag force, which in turn enables the missile to increase its range.”
While the nose of the missile is conventionally blunted in order to reduce the problem of heating, this increases drag, which considerably reduces the range. “Large amounts of fuel are needed to compensate for the drag and to give the vehicle thrust. With this technology, we increase the range without using additional fuel.”
Bajaj, Renault, Nissan sign JV for small car
After six months of negotiation, Bajaj Auto today announced its joint venture with European car maker Renault and Japanese giant Nissan to manufacture a small car in India with a wholesale price tag of $2,500 (Rs 1.03 lakh).
The car, code named ULC, will hit the roads in 2011, three years after Tata Motors' Nano, which is expected to launch in October and is priced at around Rs 1 lakh.
A tripartite joint venture will be formed in due course, in which Bajaj will hold 50 per cent and Renault and Nissan 25 per cent each. The company will oversee the design, engineering and manufacturing of the ULC.
The three companies will shortly sign a memorandum of understanding (MoU) with the Maharashtra government for the plant, which will come up in Chakan, near Pune. The Maharashtra government had already earmarked 500 acres of land, of which around 200 acres will be reserved for a vendor base.
Bajaj Auto has finalised plans for its three- and "lite" four-wheeler project involving cargo and passenger carriers in Chakan and has a two-wheeler plant in the same location.
"It makes no sense for a separate greenfield plant in Chakan. We had made an announcement about producing three- and four-wheelers earlier at an investment of Rs 2,000 crore. Construction on that site hasn't started yet...it was just a plan," said Ravi Kumar, V-P, business development, Bajaj Auto.
The new plant will make Bajaj Auto's earlier three- and four-wheelers as well as the ULC car. The plant will have an initial capacity of 400,000 units a year, which can be ramped up depending on demand.
Nissan also has a venture with Ashok Leyland for light commercial vehicles and engines. The design and engineering of the car and its engine awaits approval from the three companies.
"Engineering teams from all the three companies are working together to finalise the plan. A prototype of the car is not out yet," Kumar added.
The engine for the car will be co-developed by the partners and not just by Bajaj Auto as was reported earlier. The vehicle will basically be a reworked version of the car showcased by Bajaj Auto at the Auto Expo earlier this year.
Other Bajaj executives said the key feature of the product would be its fuel efficiency, which will be at least double that of a competing small car in the country. With the Nano expected to give between 20 and 22 km a litre, the petrol version of the ULC could offer at least 40 km a litre.
Addressing the issue of rising raw material prices, the press release said, "The feasibility has already extended into joint product development and the project is on line to meet targeted performance and costs."
All three companies also intend to sell the car in other developing markets though India will be the primary market.
Renault and Nissan, which hold equity in each other, are both run by the legendary Carlos Goshn. Renault already has a joint venture with Mahindra & Mahindra for the Logan, while Nissan and Renault jointly produce cars and other vehicles in Chennai. Other auto makers who are in the race to build a car under Rs 200,000 are Volkswagen, General Motors and Hyundai.
The car, code named ULC, will hit the roads in 2011, three years after Tata Motors' Nano, which is expected to launch in October and is priced at around Rs 1 lakh.
A tripartite joint venture will be formed in due course, in which Bajaj will hold 50 per cent and Renault and Nissan 25 per cent each. The company will oversee the design, engineering and manufacturing of the ULC.
The three companies will shortly sign a memorandum of understanding (MoU) with the Maharashtra government for the plant, which will come up in Chakan, near Pune. The Maharashtra government had already earmarked 500 acres of land, of which around 200 acres will be reserved for a vendor base.
Bajaj Auto has finalised plans for its three- and "lite" four-wheeler project involving cargo and passenger carriers in Chakan and has a two-wheeler plant in the same location.
"It makes no sense for a separate greenfield plant in Chakan. We had made an announcement about producing three- and four-wheelers earlier at an investment of Rs 2,000 crore. Construction on that site hasn't started yet...it was just a plan," said Ravi Kumar, V-P, business development, Bajaj Auto.
The new plant will make Bajaj Auto's earlier three- and four-wheelers as well as the ULC car. The plant will have an initial capacity of 400,000 units a year, which can be ramped up depending on demand.
Nissan also has a venture with Ashok Leyland for light commercial vehicles and engines. The design and engineering of the car and its engine awaits approval from the three companies.
"Engineering teams from all the three companies are working together to finalise the plan. A prototype of the car is not out yet," Kumar added.
The engine for the car will be co-developed by the partners and not just by Bajaj Auto as was reported earlier. The vehicle will basically be a reworked version of the car showcased by Bajaj Auto at the Auto Expo earlier this year.
Other Bajaj executives said the key feature of the product would be its fuel efficiency, which will be at least double that of a competing small car in the country. With the Nano expected to give between 20 and 22 km a litre, the petrol version of the ULC could offer at least 40 km a litre.
Addressing the issue of rising raw material prices, the press release said, "The feasibility has already extended into joint product development and the project is on line to meet targeted performance and costs."
All three companies also intend to sell the car in other developing markets though India will be the primary market.
Renault and Nissan, which hold equity in each other, are both run by the legendary Carlos Goshn. Renault already has a joint venture with Mahindra & Mahindra for the Logan, while Nissan and Renault jointly produce cars and other vehicles in Chennai. Other auto makers who are in the race to build a car under Rs 200,000 are Volkswagen, General Motors and Hyundai.
Tuesday, May 6, 2008
Hindujas plan $50 bn capex
The Hinduja family is planning investments of about $50 billion (Rs 2 lakh crore) in the next five years in India and abroad, led by a foray into oil and gas in Iran.
The closely held group, run by four billionaire brothers, is also planning large investments in real estate, automotives, power and infrastructure, mostly in India, Europe and West Asia.
Based in the UK, India and Switzerland, the Hinduja group does not disclose details of its financial performance. However, total sales are estimated at $11 billion in fields ranging from oil to banking, real estate, media and entertainment, telecom and healthcare.
The wealth of the two London-based brothers, Gopichand and Srichand, was estimated by the Sunday Times Rich List last month at £6.2 billion, making them the UK's fourth-richest family.
The scale of their investment plans is likely to be greeted with some scepticism in India, where they are not currently ranked among the biggest groups partly because they have only recently re-emerged into the public spotlight after winning a long-running court case related to a corruption scandal in late 1980s.
In India, the group controls Ashok Leyland, the country's second-biggest truck-maker by sales, as well as Hinduja Foundries, one of the biggest automotive jobbing foundries, producing castings for third parties.
The key to the group's strategy in India is to build on the family's historic ties with Iran, where it was based until the late 1970s. Hindujas are eyeing Iran's South Pars Phase 12 gas field and the Azadegan oil asset, in partnership with ONGC Videsh, the international unit of PSU Oil and Natural Gas Corporation.
The group and ONGC Videsh have conducted due diligence on South Pars and are preparing for due diligence on Azadegan. "Both of them, depending on due diligence, will entail a huge investment in the range of $10-20 billion," the Hindujas have said.
Hinduja and ONGC are also planning to build a 300,000 barrels-a-day oil refinery and a 7.5 tonnes-a-year liquid natural gas terminal in southern India.
The group has received clearances to build 2,000 mw of generating capacity in Andhra Pradesh.In the coming decade, it plans to have a generating capacity of 10,000 mw at an investment of about $10 billion in the country. Financial Times
The closely held group, run by four billionaire brothers, is also planning large investments in real estate, automotives, power and infrastructure, mostly in India, Europe and West Asia.
Based in the UK, India and Switzerland, the Hinduja group does not disclose details of its financial performance. However, total sales are estimated at $11 billion in fields ranging from oil to banking, real estate, media and entertainment, telecom and healthcare.
The wealth of the two London-based brothers, Gopichand and Srichand, was estimated by the Sunday Times Rich List last month at £6.2 billion, making them the UK's fourth-richest family.
The scale of their investment plans is likely to be greeted with some scepticism in India, where they are not currently ranked among the biggest groups partly because they have only recently re-emerged into the public spotlight after winning a long-running court case related to a corruption scandal in late 1980s.
In India, the group controls Ashok Leyland, the country's second-biggest truck-maker by sales, as well as Hinduja Foundries, one of the biggest automotive jobbing foundries, producing castings for third parties.
The key to the group's strategy in India is to build on the family's historic ties with Iran, where it was based until the late 1970s. Hindujas are eyeing Iran's South Pars Phase 12 gas field and the Azadegan oil asset, in partnership with ONGC Videsh, the international unit of PSU Oil and Natural Gas Corporation.
The group and ONGC Videsh have conducted due diligence on South Pars and are preparing for due diligence on Azadegan. "Both of them, depending on due diligence, will entail a huge investment in the range of $10-20 billion," the Hindujas have said.
Hinduja and ONGC are also planning to build a 300,000 barrels-a-day oil refinery and a 7.5 tonnes-a-year liquid natural gas terminal in southern India.
The group has received clearances to build 2,000 mw of generating capacity in Andhra Pradesh.In the coming decade, it plans to have a generating capacity of 10,000 mw at an investment of about $10 billion in the country. Financial Times
Vodafone to offer iPhone in India
Telecom operator Vodafone will offer the much awaited iPhone in India. The telecom giant has signed an agreement with Apple to sell the iPhone in ten of its markets around the globe.
Later this year, Vodafone customers in India, Australia, the Czech Republic, Egypt, Greece, Italy, Portugal, New Zealand, South Africa and Turkey will be able to purchase the iPhone for use on the Vodafone network.
While the company did not disclose the price of the iPhone but Business Standard had on April 16 this year reported, that the price would range between Rs 27,200 and Rs 28,000. It is expected that Vodafone would launch iPhone by the first week of September. Apple sources in Singapore, when contacted last month, had maintained that the India launch would happen in 2008, but were tight-lipped on the exact date.
The Cupertino, California-based company, according to Apple retail sources, said initially the 8 GB version of the much-hyped touchscreen device — which combines Wi-Fi capabilities with a powerful email client, TV feeds, online music store and map-based location guide — will be launched.
Based on buyer response, the launch of the 16 GB version will be staggered to the middle of 2009. Initial sales targets for the iPhone in India or unit numbers at the time of launch are as yet unavailable, with Apple wary of grey market sales in India.
"The carrier deal for India is being worked out with Vodafone," said an Apple source, adding: "Vodafone could also become the carrier for the Australian market once iPhone is launched there, though more than one carrier is likely for Australia."
Later this year, Vodafone customers in India, Australia, the Czech Republic, Egypt, Greece, Italy, Portugal, New Zealand, South Africa and Turkey will be able to purchase the iPhone for use on the Vodafone network.
While the company did not disclose the price of the iPhone but Business Standard had on April 16 this year reported, that the price would range between Rs 27,200 and Rs 28,000. It is expected that Vodafone would launch iPhone by the first week of September. Apple sources in Singapore, when contacted last month, had maintained that the India launch would happen in 2008, but were tight-lipped on the exact date.
The Cupertino, California-based company, according to Apple retail sources, said initially the 8 GB version of the much-hyped touchscreen device — which combines Wi-Fi capabilities with a powerful email client, TV feeds, online music store and map-based location guide — will be launched.
Based on buyer response, the launch of the 16 GB version will be staggered to the middle of 2009. Initial sales targets for the iPhone in India or unit numbers at the time of launch are as yet unavailable, with Apple wary of grey market sales in India.
"The carrier deal for India is being worked out with Vodafone," said an Apple source, adding: "Vodafone could also become the carrier for the Australian market once iPhone is launched there, though more than one carrier is likely for Australia."
Monday, May 5, 2008
climate change intensifies storms
Hurricanes in some areas, including the North Atlantic, are likely to become more intense as a result of global warming even though the number of such storms worldwide may decline, according to a new study by MIT researchers.
Kerry Emanuel, the lead author of the new study, wrote a paper in 2005 reporting an apparent link between a warming climate and an increase in hurricane intensity. That paper attracted worldwide attention because it was published in Nature just three weeks before Hurricane Katrina slammed into New Orleans.
Emanuel, a professor of atmospheric science in MIT's Department of Earth, Atmospheric and Planetary Sciences, says the new research provides an independent validation of the earlier results, using a completely different approach. The paper was co-authored by postdoctoral fellow Ragoth Sundararajan and graduate student John Williams and appeared last week in the Bulletin of the American Meteorological Society.
While the earlier study was based entirely on historical records of past hurricanes, showing nearly a doubling in the intensity of Atlantic storms over the last 30 years, the new work is purely theoretical. It made use of a new technique to add finer-scale detail to computer simulations called Global Circulation Models, which are the basis for most projections of future climate change.
"It strongly confirms, independently, the results in the Nature paper," Emanuel said. "This is a completely independent analysis and comes up with very consistent results."
Worldwide, both methods show an increase in the intensity and duration of tropical cyclones, the generic name for what are known as hurricanes in the North Atlantic. But the new work shows no clear change in the overall numbers of such storms when run on future climates predicted using global climate models.
However, Emanuel says, the new work also raises some questions that remain to be understood. When projected into the future, the model shows a continuing increase in power, "but a lot less than the factor of two that we've already seen" he says. "So we have a paradox that remains to be explained."
There are several possibilities, Emanuel says. "The last 25 years' increase may have little to do with global warming, or the models may have missed something about how nature responds to the increase in carbon dioxide."
Another possibility is that the recent hurricane increase is related to the fast pace of increase in temperature. The computer models in this study, he explains, show what happens after the atmosphere has stabilized at new, much higher CO2 concentrations. "That's very different from the process now, when it's rapidly changing," he says.
In the many different computer runs with different models and different conditions, "the fact is, the results are all over the place," Emanuel says. But that doesn't mean that one can't learn from them. And there is one conclusion that's clearly not consistent with these results, he said: "The idea that there is no connection between hurricanes and global warming, that's not supported," he says.
The work was partly funded by the National Science Foundation.
Kerry Emanuel, the lead author of the new study, wrote a paper in 2005 reporting an apparent link between a warming climate and an increase in hurricane intensity. That paper attracted worldwide attention because it was published in Nature just three weeks before Hurricane Katrina slammed into New Orleans.
Emanuel, a professor of atmospheric science in MIT's Department of Earth, Atmospheric and Planetary Sciences, says the new research provides an independent validation of the earlier results, using a completely different approach. The paper was co-authored by postdoctoral fellow Ragoth Sundararajan and graduate student John Williams and appeared last week in the Bulletin of the American Meteorological Society.
While the earlier study was based entirely on historical records of past hurricanes, showing nearly a doubling in the intensity of Atlantic storms over the last 30 years, the new work is purely theoretical. It made use of a new technique to add finer-scale detail to computer simulations called Global Circulation Models, which are the basis for most projections of future climate change.
"It strongly confirms, independently, the results in the Nature paper," Emanuel said. "This is a completely independent analysis and comes up with very consistent results."
Worldwide, both methods show an increase in the intensity and duration of tropical cyclones, the generic name for what are known as hurricanes in the North Atlantic. But the new work shows no clear change in the overall numbers of such storms when run on future climates predicted using global climate models.
However, Emanuel says, the new work also raises some questions that remain to be understood. When projected into the future, the model shows a continuing increase in power, "but a lot less than the factor of two that we've already seen" he says. "So we have a paradox that remains to be explained."
There are several possibilities, Emanuel says. "The last 25 years' increase may have little to do with global warming, or the models may have missed something about how nature responds to the increase in carbon dioxide."
Another possibility is that the recent hurricane increase is related to the fast pace of increase in temperature. The computer models in this study, he explains, show what happens after the atmosphere has stabilized at new, much higher CO2 concentrations. "That's very different from the process now, when it's rapidly changing," he says.
In the many different computer runs with different models and different conditions, "the fact is, the results are all over the place," Emanuel says. But that doesn't mean that one can't learn from them. And there is one conclusion that's clearly not consistent with these results, he said: "The idea that there is no connection between hurricanes and global warming, that's not supported," he says.
The work was partly funded by the National Science Foundation.
Sunday, May 4, 2008
US responsible for global food crisis: FAO data
Rising global demand for bio-fuels also a culprit.
US President George W Bush and his Secretary of State Condoleezza Rice may have their numbers wrong when they accuse China and India of contributing to the global food crisis as a result of growing prosperity-led consumption.
Data collected by the Food and Agricultural Organisation (FAO) of the United Nation show that the consumption of cereals (wheat, rice, maize, corn and so on) is growing far more rapidly in the US than in India or China.
According to a global food market report put out by the FAO, the consumption of cereals by India is projected to have grown 2.17 per cent from 193.1 million tonnes in 2006-07 to 197.3 million tonnes in 2007-08, while that in China has risen 1.8 per cent from 382.2 million tonnes to 389.1 million tonnes.
US President George W Bush and his Secretary of State Condoleezza Rice may have their numbers wrong when they accuse China and India of contributing to the global food crisis as a result of growing prosperity-led consumption.
Data collected by the Food and Agricultural Organisation (FAO) of the United Nation show that the consumption of cereals (wheat, rice, maize, corn and so on) is growing far more rapidly in the US than in India or China.
According to a global food market report put out by the FAO, the consumption of cereals by India is projected to have grown 2.17 per cent from 193.1 million tonnes in 2006-07 to 197.3 million tonnes in 2007-08, while that in China has risen 1.8 per cent from 382.2 million tonnes to 389.1 million tonnes.
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