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Aptech to open 150 centers across geographies in FY11IT training major Aptech Ltd plans to open 150 centers across geographies in FY11, said its Managing Director and Chief Executive Officer Ninad Karpe. The company, he said, was looking to integrate backend and support functions for MAAC, which was acquired in 2010 for USD 70 million as well as for Arena.Source: Moneycontrol Top Headlines | 5 Apr 2010 | 7:18 am Bharti may outsource Africa ops to IT vendors: SourcesCNBCTV18 now learns that the Indian telecom major is likely to outsource Africa data integration, human resource management as well as network resource management operations to IT vendors.Source: Moneycontrol Top Headlines | 5 Apr 2010 | 6:41 am Biometric PAN cards put on hold!The Income Tax department`s proposal to issue biometric PAN cards has been put on hold so as to avoid duplication with the UID numbers to be issued by Nandan Nilekani`s Unique Identity Authority of India (UIDAI).Source: Zee News : Business | 5 Apr 2010 | 6:19 am Equity dilution to be less than 2% in IDR: StanChart BkStandard Chartered Bank has filed a DRHP related to its planned public share offering in India after getting all regulatory clearances. In an interview with CNBCTV18, Standard Chartered Bank\'s Group CEO Peter Sands spoke about what investors in the IDR can expect from the bank going forward.Source: Moneycontrol Top Headlines | 5 Apr 2010 | 4:55 am Religare Securities raises stake in Fame to 5.82%Religare Securities Ltd has increased its stake in multiplex operator Fame India to 5.82% from 0.70%, according to a filing made by Fame to the Bombay Stock Exchange on Monday. The stake increase was effected on March 25.Source: Moneycontrol Top Headlines | 5 Apr 2010 | 4:45 am Ispat hikes steel prices by 2500/t, to raise Rs 500crIspat Industries have hiked prices of its products by Rs 2,500/tonnes due to raw material pressures. Informing this in an exclusive interview with CNBCTV18, executive director (finance) of Ispat Industries Anil Sureka also said the Ispat Board has approved a Rs 500 crore fund raising plan.Source: Moneycontrol Top Headlines | 5 Apr 2010 | 4:15 am Fresenius in license agreement with SanofiAventisFresenius Kabi Oncology Ltd said on Monday it has entered into a license and settlement agreement with SanofiAventis for injectable drug Eloxatin.Source: Moneycontrol Top Headlines | 5 Apr 2010 | 4:08 am Fresenius Kabi settles patent case with Sanofi Aventis - Moneycontrol.com
Source: Business - Google News | 5 Apr 2010 | 4:05 am Govt not concerned over rupee gain against dollar - Economic Times
Source: Business - Google News | 5 Apr 2010 | 3:59 am Central Bank of India gets Rs 450cr infusion from govtThe Central Bank of India said on Monday that it has received Rs 450 crore capital infusion from the government.Source: Moneycontrol Top Headlines | 5 Apr 2010 | 3:56 am Sensex, Nifty hit fresh two-year highs - NDTV.com
Source: Business - Google News | 5 Apr 2010 | 3:48 am Biocon to acquire CIMAB SA's stake in Biocon Biopharma - Business Standard
Source: Business - Google News | 5 Apr 2010 | 3:46 am Citrix systems announces two new iPad appsThe Citrix GoToMeeting App for iPad brings the same level of simplicity to the world of business meetings, making it easy for iPad owners to collaborate from anywhere.Source: Daily News & Analysis: Money News | 5 Apr 2010 | 3:46 am Reliance Cap mulls health JV with Swiss ReReliance Capital is in talks with Zurichbased reinsurer Swiss Re for a proposed foray into health insurance, The Economic Times newspaper reported on Monday.Source: Moneycontrol Top Headlines | 5 Apr 2010 | 3:41 am IRB Infrastructure qualifies to bid for Rs200 billion projectsIRB Infrastructure collects toll of around Rs24 million from operational projects per day. The company has around 3,100 lane kilometres of operational projects.Source: Daily News & Analysis: Money News | 5 Apr 2010 | 3:40 am `Neutral ` Larsen & Toubro, target Rs 1643: Motilal Oswal - Myiris.com
Source: Business - Google News | 5 Apr 2010 | 3:33 am Chola DBS to raise Rs.100 cr offering fresh equity - Sify
Source: Business - Google News | 5 Apr 2010 | 3:24 am Uttam Galva Steels hikes pricesMumbai: Uttam Galva Steels, on Monday said it has increased the prices of its products in the spot market and monthly contract by Rs6,000 per tonne. Uttam Galva Steels is one of India’s leading manufacturer and exporter of value-added steel. The increase in prices is with effect from 1 April, a press release stated. The company is also targeting an increase in quarterly contract prices by Rs9,000 per tonne, again, with effect from 1 April the release said. In the domestic market, the company is a major supplier to the automobile, white goods, general engineering and construction industries. The company currently exports its products to 142 countries including Australia, France, Germany, Greece, the UK and USA, the release said. Source: Home - Livemint.com | 5 Apr 2010 | 3:21 am Steps to tame inflation were priority at RBI meet: IBA - Economic Times
Source: Business - Google News | 5 Apr 2010 | 3:19 am SCENARIOS - China may be closer to changing yuan policySHANGHAI/BEIJING (Reuters) - The U.S. decision to delay a ruling on whether China manipulates its currency may have defused political tensions enough for Beijing to let the yuan resume appreciation as early as the next few months.Source: Reuters: Money News | 5 Apr 2010 | 3:19 am Fresenius settles patent case with Sanofi for EloxatinFresenius Kabi has settled its patent infringement lawsuits with generic drugmaker SanofiAventis over colorectal cancer drug Eloxatin.Source: Moneycontrol Top Headlines | 5 Apr 2010 | 3:17 am BSE Sensex extends gains to 1 pct on dayMUMBAI (Reuters) - The BSE Sensex extended gains to 1 percent on Monday afternoon, with ICICI Bank and Reliance Industries leading the rise, helped by firm Asian markets.Source: Reuters: Money News | 5 Apr 2010 | 3:12 am IRB Infra qualifies to bid for 200 bln rupees projects - CMDMUMBAI (Reuters) - IRB Infrastructure Developers Ltd has qualified to bid for 200-billion rupees of road projects by National Highways Authority of India, Chairman and Managing Director Virendra D. Mhaiskar said on Monday.Source: Reuters: Money News | 5 Apr 2010 | 3:09 am Opto Circuits acquires NS Remedies for $1.5 mn - Business Standard
Source: Business - Google News | 5 Apr 2010 | 3:03 am Pharma, banking funds top gainers in MarchNEW DELHI (Reuters) - Sectoral funds investing in pharma and banks topped the performance charts among equity funds in March, while diversified stock plans lagged due to high exposure to cash and sectors like capital goods.Source: Reuters: Money News | 5 Apr 2010 | 3:03 am Feb exports up 34.8% at $16.09 bnNew Delhi: Exports rose an annual 34.8% in February to $16.09 billion, the fourth consecutive rise after 13 straight months of decline, the government said on Thursday. Imports rose 66.4% from a year earlier to $25.06 billion. Trade minister Anand Sharma had given the data on Wednesday ahead of its official release. The growth in February is from a lower base and helped by the government’s assistance to certain sectors. It is also in line with a World Trade Organisation forecast of a global trade rebound this year. The trade deficit stood at $8.97 billion in February. Exports for April-February, the first 11 months of the 2009-10 fiscal year, were down 11.3% at $152.98 billion from the same period in the previous year. Source: LatestNews-Home - Livemint.com | 5 Apr 2010 | 3:00 am Steps to tame inflation were priority at RBI meet - IBAMUMBAI (Reuters) - Containing speeding inflation was a priority at a bankers' meeting with the Reserve Bank of India's chief ahead of its April 20 policy review, the chief of a banking lobby told reporters.Source: Reuters: Money News | 5 Apr 2010 | 2:58 am Bankers tell RBI credit growth in FY11 to be over 20%Mumbai: Indian bank chiefs have told the Reserve Bank of India that credit growth will be over 20% in FY11 and they dont expect interest rates to go up soon, a senior banker said on Monday. “We feel there is no upward pressure on interest rates, NPA’s(non performing assets) will be lower” federal bank and chiefexecutive officer MVenugopalan said. Some bank chiefs met RBI Governor D Subbarao ahead of the annual monetary policy scheduled for 20 April to discuss on issues including outlook on credit, deposit growth, lending rates, economic growth and inflation. Source: Home - Livemint.com | 5 Apr 2010 | 2:51 am Bankers tell RBI credit growth in FY11 to be over 20%Mumbai: Indian bank chiefs have told the Reserve Bank of India that credit growth will be over 20% in FY11 and they dont expect interest rates to go up soon, a senior banker said on Monday. “We feel there is no upward pressure on interest rates, NPA’s(non performing assets) will be lower” federal bank and chiefexecutive officer MVenugopalan said. Some bank chiefs met RBI Governor D Subbarao ahead of the annual monetary policy scheduled for 20 April to discuss on issues including outlook on credit, deposit growth, lending rates, economic growth and inflation. Source: LatestNews-Home - Livemint.com | 5 Apr 2010 | 2:51 am Multiple blasts in Pak; US consulate targetedPeshawar: Five blasts were heard quick succession in Pakistani city of Peshawar on Monday. Police and witnesses say three large explosions have taken place close to the US consulate. Police officer Aziz Khan says gunfire is also being heard close to the heavily guarded and fortified building in Peshawar. The attack came hours after a suspected suicide bomber hit a political rally elsewhere in the troubled region. The causes of the blasts were not immediately clear, said the security official and local residents. Television footage showed a heavy mushroom cloud and smoke rising into the air over the garrison part of the city, close to the US consulate and the Peshawar headquarters of Pakistan’s top spy agency, bombed last November. Bursts of heavy gunfire could also be heard. Peshawar, on the edge of Pakistan’s tribal belt infested with Al-Qaeda and Taliban fighters, has been subject to multiple attacks by Islamist militants. Source: Home - Livemint.com | 5 Apr 2010 | 2:37 am Multiple blasts in Pak; US consulate targetedPeshawar: Five blasts were heard quick succession in Pakistani city of Peshawar on Monday. Police and witnesses say three large explosions have taken place close to the US consulate. Police officer Aziz Khan says gunfire is also being heard close to the heavily guarded and fortified building in Peshawar. The attack came hours after a suspected suicide bomber hit a political rally elsewhere in the troubled region. The causes of the blasts were not immediately clear, said the security official and local residents. Television footage showed a heavy mushroom cloud and smoke rising into the air over the garrison part of the city, close to the US consulate and the Peshawar headquarters of Pakistan’s top spy agency, bombed last November. Bursts of heavy gunfire could also be heard. Peshawar, on the edge of Pakistan’s tribal belt infested with Al-Qaeda and Taliban fighters, has been subject to multiple attacks by Islamist militants. Source: LatestNews-Home - Livemint.com | 5 Apr 2010 | 2:37 am Bankers tell RBI credit growth in FY11 to be over 20 pctMUMBAI (Reuters) - Indian bank chiefs have told the Reserve Bank of India that credit growth will be over 20 percent in FY11 and they dont expect interest rates to go up soon, a senior banker said on Monday.Source: Reuters: Money News | 5 Apr 2010 | 2:27 am Rupee at 19-month high on gains in local stocksMumbai: The Indian rupee rose to a 19-month high on Monday, tracking gains in domestic shares, with a weak dollar overseas also helping the sentiment. At 2:05pm, the partially convertible rupee was at Rs44.55/57 per dollar, its strongest since 8 September 2008. It ended last Wednesday at Rs44.89/90. The market was shut last Thursday for the annual book closing of banks and the following day for Good Friday. Traders said importers are covering their dollar needs, and therefore the rupee may find resistance around current levels. A Reuters poll of forex strategists on Bric currencies last Tuesday showed the rupee strengthening to Rs43.53 against the dollar by March 2011, supported by buoyant growth in Asia’s third-biggest economy. Indian shares climbed to their highest level in more than 25 months on Monday, as investors focused on their long-term outlook on the back of robust economic growth. The index of the dollar against six major currencies was down 0.13%. One-month offshore non-deliverable forward contracts were at 44.58/68, slightly weaker than the onshore spot rate. In the currency futures market, the most traded near-month dollar-rupee contracts on the National Stock Exchange and MCX-SX were both at 44.665, with the total traded volume on the two exchanges at about $3.88 billion. Source: Home - Livemint.com | 5 Apr 2010 | 2:24 am Auspicious days for gold purchases in India for 2010MUMBAI (Reuters) - The following are some of the days considered auspicious according to the Hindu calendar for gold purchases in India:Source: Reuters: Money News | 5 Apr 2010 | 2:13 am INTERVIEW - Former CapitaLand CEO plans China, S'pore fundsSINGAPORE (Reuters) - Perennial Real Estate, a firm set up by CapitaLand's former retail chief Pua Seck Guan, plans to launch private equity funds that will invest in shopping malls in China and Singapore to tap the region's growing consumer demand.Source: Reuters: Money News | 5 Apr 2010 | 1:54 am IMF`s head says world economy \'not out of woods\'International Monetary Fund head Dominique StraussKahn said on Sunday the world economy was not \"out of the woods\" despite a faster recovery in developing and emerging countries than earlier forecast.Source: Moneycontrol Top Headlines | 5 Apr 2010 | 1:33 am The Oberoi Group announces re-opening of The Oberoi, MumbaiThe Oberoi, Mumbai will re-open on 24th April 2010 following extensive restoration and renovation.Source: HindustanTimes.com - Top Business News Headlines | 5 Apr 2010 | 12:58 am Samsung Electronics chairman orders new chip lineSamsung, which has said it would seriously consider increasing its 5.5 trillion won capital spending on memory chips this year, said no decision has been made yet.Source: Daily News & Analysis: Money News | 5 Apr 2010 | 12:54 am India Reliance Cap mulls JV with Swiss ReNew Delhi: Reliance Capital is in talks with Zurich-based reinsurer Swiss Re for a proposed foray into health insurance, The Economic Times newspaper reported on Monday. The report said the discussions for a joint venture health insurance company was taking place alongside talks for Swiss Re’s equity participation in Reliance Life, a unit of Reliance Capital. Last week, the Mint newspaper had reported Reliance Life may sell a 26% stake to Swiss Re for at least Rs7 billion ($157 million.) Source: Home - Livemint.com | 5 Apr 2010 | 12:53 am Central Bank gets Rs 450 cr of capital from govt - Business Standard
Source: Business - Google News | 5 Apr 2010 | 12:43 am Global Steel eyes stake in North Korean minesGlobal Steel could be negotiating with Pyongyang for development rights to Musan for a fixed period, where Global Steel would do the mining.Source: Daily News & Analysis: Money News | 5 Apr 2010 | 12:17 am Aegis Logistics acquires Shell Gas IndiaMumbai: Oil and gas logistics provider Aegis Logistics Monday said it has acquired Shell Gas (LPG) India, pursuant to which the latter has become the subsidiary of the company. Aegis Logistics, in a filing to the Bombay Stock Exchange (BSE), said it has completed the acquisition of 3.23 crore equity shares of Shell Gas (LPG) India. It, however, did not disclose the financial details of the transaction. The company, on 31 December had entered into a share purchase agreement with Shell Gas (LPG) India to acquire it. Shell Gas (LPG) India Pvt Ltd has a gas infrastructure facility at Pipavav Port and a LPG filling plant in Gujarat. The company also carries out business of import and marketing of wholesale LPG. Aegis Logistics provides supply chain management services to the Indian petroleum and chemical industry by storing, moving and distributing petroleum and chemical products to the end user. Shares of Aegis Logistics were trading at Rs222.85 on the BSE, up 3.08% from previous close. Source: Home - Livemint.com | 5 Apr 2010 | 12:15 am Gold to test resistance, drift lowerComex gold futures fell lower Friday, after hitting multi-week highs as a euro eased lower with activity subdued due to Easter holidays in many Asian and most European markets. The dollar rose broadly, against the major currencies on Friday,Source: Business Line - Home Page | 5 Apr 2010 | 12:00 am Day Trading GuideInitiate fresh long position if DLF moves above Rs 315 with stiffSource: Business Line - Home Page | 5 Apr 2010 | 12:00 am StanChart goes for lobby-like ATMsHow would one best describe the atmosphere inside an ATM… dull, cramped? Global banking major Standard Chartered Bank hopes to change the way people look at ATMs! The bank plans to open about 25 ATMs that promise a lobby kind of experienceSource: Business Line - Home Page | 5 Apr 2010 | 12:00 am Outlook appears positive for Crompton GreavesI have one lot of Lanco Infratech (April contract) bought at Rs 53 and Educomp Solutions at Rs 740. Please advice. – Mr RavichandranSource: Business Line - Home Page | 5 Apr 2010 | 12:00 am Cairn turns to KG onshore after Rajasthan successCairn India Ltd has turned to a fresh block in Krishna-Godavari Basin for its hydrocarbons pursuit after successfully tapping the RajasthanSource: Business Line - Home Page | 5 Apr 2010 | 12:00 am Listed companies step up ad spendsOverall advertising spends may have taken a hit during the slowdown, but one wouldn't notice it from the numbers reported by the listedSource: Business Line - Home Page | 5 Apr 2010 | 12:00 am US employment news may keep market positiveGood Friday's good news on the US job additions is likely to keep sentiment on Dalal Street positive in the opening. FIIs last week have been net positive in their investment in the cash market, and in the derivatives, their trend was to beSource: Business Line - Home Page | 5 Apr 2010 | 12:00 am Base metals, crude oil rise on signals of improved economyAfter registering a steadily rising trend in the first quarter of the year, commodity markets appear to have begun the second quarter with more optimism. Flow of positive macroeconomic data is highly supportive even as demand fundamentals areSource: Business Line - Home Page | 5 Apr 2010 | 12:00 am Global recovery drives IT cos' plans to expand overseasThe revival in global economy has given a booster shot to the overseas expansion plans of the IT industry. Over the last two months, large IT companies seem to be pulling out all the stops to scale up presence in locations such as Romania,Source: Business Line - Home Page | 5 Apr 2010 | 12:00 am Network 18 Media and Investments – BuyInvestors with a medium-term perspective can consider buying the stock of Network 18 Media and Investments (Rs 123.6). The stock's downtrend that commenced from an all-time high of Rs 629 in May 2007 was arrested in March 2009 around Rs 60. ItSource: Business Line - Home Page | 5 Apr 2010 | 12:00 am Oil races toward $86 a barrelNew York's light sweet crude for delivery in May was up 84 cents to $85.71 a barrel. New York crude briefly traded above $85 last week, its highest level since October 9, 2008.Source: Daily News & Analysis: Money News | 4 Apr 2010 | 11:49 pm Markets hit 25-month high; banks up, techs fallMumbai: Indian shares climbed to their highest level in more than 25 months on Monday, with financials leading the charge as investors focused on their long-term outlook on the back of robust economic growth. Traders said firm Asian equities also underpinned the market after a three-day weekend, but rising costs of raw materials posed a risk to earnings of manufacturers and could halt the rally. By 11:17am, the 30-share BSE index was trading up 0.7% at 17,819.20 points, with 23 of its components gaining, after hitting 17,822.79 -- its highest since February 2008. The 50-share NSE index was up 0.8% at 5,330.75. “Our market is going up because world markets are doing good. But it does not have the charm and aggressiveness to rise to higher peaks from here,” said Nilesh Doshi, president of equities at Techno Shares. He said rising raw material prices could crimp profit margins of companies, and if the cost is passed on it could hurt demand. “Earnings are likely to be good. But the market will not give a big salute,” Doshi said. Top lender State Bank of India climbed 1% and rival ICICI Bank rose 2.3%. Energy major Reliance Industries, which has the highest weight on the Sensex, was trading 1.4% higher at Rs1,109. Auto makers rose on the back of robust sales in March. Leading motorbike maker Hero Honda gained 2.7% after March sales climbed 17% from a year earlier, while top vehicles maker Tata Motors edged up 0.3% on a 38% jump in March sales. Software companies that get most of their revenue from exports bucked the trend and dropped on worries a rising rupee would squeeze their margins. Infosys Technologies and Wipro fell 0.2% and 0.4% respectively, while sector leader Tata Consultancy Services shed 0.3%. Last week, median forecasts from 35 foreign exchange strategists showed the partially convertible rupee strengthening to 43.53 against the dollar by March 2011, due to surging flows on funds. In the broader market, gainers were more than thrice the number of losers on volume of 191 million shares. Source: Home - Livemint.com | 4 Apr 2010 | 11:33 pm SP, RJD to oppose women’s bill at all-party meetNew Delhi: The SP and the RJD Monday said they would oppose the Women’s Reservation Bill in its present form at an all-party meeting convened by the government and stick to their demand for quota for Muslim women and backward classes. Ahead of the meeting convened by finance minister Pranab Mukherjee, who is leader of Lok Sabha, to find a way out of the impasse on the bill in the Lower House, SP leader Mulayam Singh Yadav and RJD chief Lalu Prasad said while they were not against reservation for women, they would insist on their stand of “reservation within reservation”. Rajya Sabha had last month passed the Constitution amendment bill providing for 33% reservation for women in Lok Sabha and state assemblies. “We have oppose the Bill in its present form. We are not opposed to reservation for women,” the SP supremo said. Mulayam said that the bill envisaged rotation of the seats reserved for women and it is possible that in a House with 543 seats, women will fight in over 181 seats. In such a scenario, it is possible that just around 50 of seats could be contested by men in the elections, he said. Lalu Prasad said, “We will not oppose reservation. We will stick to our old stand of reservation within reservation. The bill must include reservation for Muslim women, women from backward classes and dalits.” CPI (M) leader Brinda Karat, however, made it clear that her party will press for the passage of the bill in the present session itself. Congress spokesman Abhishek Manu Singhvi said that in a matter where there is such a large volume of bipartisan support, the strategy should be discussed. The bill is expected to be taken up for consideration in Lok Sabha when it resumes the budget session on 15 April. Source: Home - Livemint.com | 4 Apr 2010 | 11:32 pm China’s yuan casts shadow over Indo-US talksNew Delhi: US Treasury Secretary Timothy Geithner will try to strengthen bilateral ties with India during talks in New Delhi this week, but his visit may be overshadowed by Washington’s tense relationship with China. Both the United States and India will be simultaneously pushing trade and foreign exchange agendas with China, as they discuss cooperation on infrastructure development and financial markets. Geithner on Saturday delayed an 15 April report to Congress on whether China manipulates its yuan currency, pledging to work instead with Group of 20 members - India and China included — to persuade Beijing to de-peg its yuan from the dollar. India’s foreign minister SM Krishna will be in Beijing for talks this week on a range of issues, smoothing out trade flows and reducing non-tariff trade barriers to shrink a $16 billion trade deficit with China. “There is one potentially big issue of common interest between the US and India — the Chinese exchange rate,” said Arvind Subramanian, senior fellow at the Peterson Institute for International Economics, a Washington think tank. “China’s undervalued exchange rate affects emerging market economies like India even more than it does the United States,” he said. Subramanian added that India might be persuaded to support a broad-based effort aimed at currency rebalancing in a large, global forum like the G20 grouping of wealthy and big emerging economies. China has intervened in currency markets to keep the yuan steady against the dollar since July 2008 at a rate that critics say effectively provides a lucrative subsidy to Chinese exports. India maintains a floating exchange rate policy. More than a counterbalance But India remains reluctant to provoke China and won’t want to be seen as openly supporting US demands for a rise in the yuan. “The Indians have been pissed-off in the past about being used by the US to try to counterbalance China. They don’t want to be in that position,” said Stephen Cohen, a senior fellow at the Brookings Institution in Washington. US Treasury officials have downplayed the China currency issue as a major topic for the talks, referring to it only as a discussion on rebalancing the global economy, which G20 leaders pledged to try to do last year at a summit in Pittsburgh. Most economists see that goal as impossible without a stronger yuan. Geithner, speaking to a small group of Indian journalists on Thursday, sidestepped questions about the yuan rate, instead lauding India for its flexible currency, more open economy and less dependence on exports. “I’m going to be very careful for reasons you understand not to talk about China in India, or to talk about China to the Indian press in Washington,” he said, according to a transcript of the briefing released by the Treasury. Limited scope Geithner’s main goal in the talks in India on Tuesday will be to give more prominence to US-Indian relations, which have taken a back seat to Washington’s ties with China in recent years. In an effort to smooth relations with India, US President Barack Obama last November hosted Indian Prime Minister Manmohan Singh for a state visit in Washington. “It is not about doing any signing agreements or trying to procedure any specific short term deliver position. It is about the long view.” The talks, which are more limited in scope than an annual US-China dialogue, will cover three main areas: economic stability, infrastructure development and the financial sector. Geithner and Indian Finance Minister Pranab Mukherjee will lead the discussions. The US Treasury chief later will meet with Singh. Federal Reserve vice chairman Donald Kohn will be part of the US delegation, ensuring high-level interaction between the two countries’ central banks. On Wednesday, Geithner travels to Mumbai to hold meetings with top Indian executives and entrepreneurs. “Economic relations in India largely are driven by entrepreneurs and private players. A key goal should be how the leaders might give better policy signals to the private sector,” said Arvind Panagariya, a professor of Indian politics and economics at Columbia University in New York. While there are no major trade disputes between the United States and India, the talks will focus on some areas of disagreement, including India’s 26% limits on foreign investments in its insurance sector, and US restrictions on sales of certain high-technology exports. Modernizing India’s financial sector also will be on the agenda, but analysts said that India will move slowly in this area, especially given the damage caused during the financial crisis that followed rapid US deregulation. US officials want to discuss ways to increase American companies’ participation in India’s vast infrastructure building needs, which analysts estimate at up to $1 trillion. Source: Home - Livemint.com | 4 Apr 2010 | 11:07 pm Oil rises to near $86 as US jobs market improvesSingapore: Oil prices jumped to near $86 a barrel Monday in Asia, extending gains from last week as investors bet an improving US job market will herald growing crude demand. Benchmark crude for May delivery was up 80 cents to $85.67 a barrel at midday Singapore time in electronic trading on the New York Mercantile Exchange. The contract climbed up $1.11 to settle at $84.87 on Thursday following a gain of $1.39 on Wednesday. Global oil trading was closed for the Good Friday holiday. Crude has jumped from $69 a barrel in early February on expectations a growing US economy will eventually spark higher oil consumption. On Friday, the US Labour Department said employers added 162,000 jobs in March, the largest job gain in three years. The unemployment rate stayed at 9.7% for the third straight month. “The market was positive before but now it’s been confirmed,” said Clarence Chu, a trader with market maker Hudson Capital Energy in Singapore. “If the job growth can be sustained for several months, we’ll definitely see crude demand pick up.” In other Nymex trading in May contracts, heating oil rose 2.09 cents to $2.2376 a gallon, and gasoline gained 2.10 cent to $2.3442 a gallon. Natural gas jumped 1.5 cents to $4.101 per 1,000 cubic feet. In London, Brent crude was up 71 cents at $84.72 on the ICE futures exchange. Source: Home - Livemint.com | 4 Apr 2010 | 11:06 pm Sensex opens higher by 117 points on firm global cuesThe wide-based National Stock Exchange index Nifty regained 5,300-level rising by 40.10 points, or 0.75%, to 5,330.60 points.Source: Daily News & Analysis: Money News | 4 Apr 2010 | 10:49 pm Sensex opens higher by 117 points on firm global cuesThe BSE benchmark Sensex gained 117 points, or 0.66 per cent, in opening trade today on buying by foreign funds, which took cues from firm global markets. The 30-share index rose by 117.88 points to 17,810.50 points. Source: HindustanTimes.com - Top Business News Headlines | 4 Apr 2010 | 10:36 pm Pradip Overseas sees FY11 EPS at Rs 20-25 - Moneycontrol.com
Source: Business - Google News | 4 Apr 2010 | 10:22 pm Sensex opens higher by 117 pointsThe Bombay Stock Exchange benchmark Sensex gained 117 points, or 0.66%, in opening trade on Monday on buying by foreign funds, which took cues from firm global markets.Source: India Business News | Business News - Times of India | 4 Apr 2010 | 10:19 pm Major 7.2 quake near Mexico-US border kills oneTijuana, Mexico: A major 7.2 magnitude earthquake struck near the Mexico-California border on Sunday, killing at least one person as it rocked buildings, ruptured a highway and panicked residents from Tijuana to Los Angeles. One person died when a house in Mexicali collapsed, Alfredo Escobedo, director of emergency services in Baja California state, Mexico, said. He said others had been trapped in elevators, retaining walls collapsed in some places and electricity was out in several parts of the state. “There are around 100 people injured,” Escobedo said, but he had no reports of people stuck under collapsed buildings. Local newspaper La Cronica said two people had died. The relatively shallow quake was centered in a lightly populated area in northeastern Baja California near the city of Mexicali on the US border. It knocked down power lines, cut off most phone communications and tore big cracks in a highway linking Tijuana to Mexicali. The US town of Calexico, over the border from Mexicali, suffered substantial structural damage but no casualties, local Fire Chief Pete Mercado told ABC7 TV News in Los Angeles. “We are a population of 40,000 people, bordered next to 1.5 million. So we have a significant amount of damage down in Mexicali,” he said. “I have not got an update from the Mexican side.” Mexicali is a prosperous city and a busy border crossing with the United States. Local industry is mainly agriculture, food processing plants and assembly-for-export plants. Images after the quake showed damaged but not collapsed buildings. A series of aftershocks rocked the area around the epicenter, 30 miles (50 km) to the southeast of Mexicali and close to the town of Guadalupe Victoria for several hours. “It’s still shaking,” Nadia Camacho, a receptionist at a Mexicali hotel which had cracks in its floor and walls, said hours after the quake struck at 3:40 p.m. Pacific time (2240 GMT). “We are all on alert. Nobody is inside the hotel, everybody’s outside.” Nerves in quake-prone areas The US Geological Survey measured the quake at 7.2, a magnitude that can cause serious damage to urban areas. Devastating earthquakes in Haiti and Chile this year have left many people nervous across tremor-prone Latin America. An empty multistory parking garage under construction in Mexicali collapsed and broken gas pipes sparked a number of fires, Baja California civil protection official Eduardo Sandoval told Mexican radio. In Tijuana, about 135 miles (200 km) from the epicenter, a Reuters witness said the quake visibly jolted cars in a parking lot and shook a computer on her desk. Some neighborhoods of San Diego reported minor structural damage and burst water pipes and callers to local radio said the rolling tremor made it hard to keep vehicles on the road. “This was by far in recent memory the biggest jolt to our area,” said a commentator on on local San Diego radio station. People in Los Angeles, some 200 miles (320 km) northwest of the epicenter, felt buildings swaying. “I’m shaking like a leaf ... the pool water was just going everywhere,” said Jean Nelson in Indio, California, outside Palm Springs, about 120 miles (190 km) from the epicenter. Southern California with its many active faults is prone to frequent quakes, and many residents fearfully anticipate the next big one. The last to cause major damage was the 6.7 magnitude Northridge quake in 1994 that left 57 dead, injured 9,000 and resulted in about $40 billion in property damage. Source: LatestNews-Home - Livemint.com | 4 Apr 2010 | 10:06 pm Stranded coal carrier threatens Great Barrier ReefSydney: A badly damaged Chinese coal carrier stranded on Australia’s World Heritage-listed Great Barrier Reef was Monday threatening to break up and spill more oil into pristine waters teeming with marine life. The Shen Neng 1 ran aground on Saturday when it hit a shoal off the eastern state of Queensland at full speed, rupturing a fuel tank and causing a three-kilometre (almost two mile) slick in the scenic tourist spot. “One of the most worrying aspects is that the ship is still moving on the reef to the action of the seas, which is doing further damage,” said the general manager of Marine Safety Queensland Patrick Quirk. Salvage experts have boarded the Chinese-registered carrier, which is loaded with 65,000 tonnes of coal and about 975 tonnes of heavy fuel oil, stranded some 70 kilometres east of the resort destination Great Keppel Island. One tug boat was already at the scene trying to stabilise the vessel and another will arrive later Monday, while aircraft were being used to monitor the spill in waters that are home to hundreds of species of coral and fish. “The hope is that little oil escaped through the night,” Quirk said. The vessel hit Douglas Shoal, which is at the southern end of the Great Barrier Reef Marine Park and some 15 kilometres outside the nearest shipping channel, at full speed. Authorities said the damage was serious. Quirk said the initial report was that the ship’s main engine room had been breached, the major engine damaged and the rudder seriously impacted. Queensland Premier Anna Bligh said salvage teams were on board and assessing how they might be able to refloat the China-bound carrier. “This is going to be a very specialist and delicate operation,” she told the Nine Network. “If this ship was to break further apart, if there was another very significant oil spill, then we would not only see tonnes of oil into the Great Barrier Reef Marine Park but modelling shows it is likely to come up onto the beaches of Shoalwater Bay, which is a national park area.” Bligh said the vessel was in a restricted zone of the Great Barrier Reef which was “totally off limits” to shipping and the government would investigate why the ship was so far off course. The carrier’s Chinese owners Cosco Group could be fined up to one million dollars (around US$920,000) and the captain handed a 250,000 dollar penalty over the incident, she said. “Frankly, I think the book should be thrown at this organisation. This is a very delicate part of one of the most precious marine environments on earth,” Bligh told ABC Radio. The accident, which follows a large oil spill from the container carrier Pacific Adventurer in March 2009 which polluted Queensland beaches, has prompted warnings from conservationists about the impact on the reef as shipping increases. The number of seaborne exports of coal and natural gas is set to surge in the coming decade as Queensland opens new resource developments to supply Asia’s growing energy needs. The Great Barrier Reef, which covers 345,000 square kilometres (133,000 square miles) along Australia’s northeast coast, is a major tourist attraction and home to hundreds of species including dugongs, dolphins and sea turtles. Source: LatestNews-Home - Livemint.com | 4 Apr 2010 | 9:55 pm Rupee to stay on firm footing as risk appetite improvesA slew of important economic figures, including the US employment report for March, hit the markets last week.Source: Daily News & Analysis: Money News | 4 Apr 2010 | 3:27 pm Inflation pivotal amid heavy supplyThe market will have to absorb Rs 49,000 crore of fresh supply of bonds from the government in April in the face of rising inflation expectations.Source: Daily News & Analysis: Money News | 4 Apr 2010 | 3:24 pm What can Tiger Woods do to rebuild his brand? Win'Marketing people do what interests them personally. Since many marketing people, especially in creative departments, are very young, the thing that interests them the most is sex.,' says Laura Ries.Source: Daily News & Analysis: Money News | 4 Apr 2010 | 3:22 pm Humble netbook looks set to eat Intel's notebook lunchAMD, Via and many others likely to flood market with netbooks that will make the notebook superfluous for most users.Source: Daily News & Analysis: Money News | 4 Apr 2010 | 3:19 pm India Inc's M&As touch $19bn in 2010Driven by Bharti Airtel's $10.7-billion takeover deal for the African assets of Kuwaits Zain Telecom, the total value of merger and acquisition (M&A) deals in the country in the first quarter of 2010 has nearly quadrupled to $19 billion.Source: India Business News | Business News - Times of India | 4 Apr 2010 | 2:30 pm 'India is an interesting place for doing business'Describing India as one of the "most interesting places" for ArcelorMittal, its billionaire chief L N Mittal has said the steel behemoth will focus on developing economies, mainly India, for its new factory plans.Source: India Business News | Business News - Times of India | 4 Apr 2010 | 2:23 pm MF assets grow 51% in 2009-10The average AUM of the fund houses rose Rs 2.5 lakh crore or 51% in the last fiscal, from Rs 4.9 lakh crore at the end of 2009-09 fiscal, according to the data available with the AMFI.Source: India Business News | Business News - Times of India | 4 Apr 2010 | 2:22 pm Spectrum pricing proposals this weekThe recommendations, especially those concerning spectrum pricing and M&As, are also bound to influence the 3G bidding strategy of some operators.Source: India Business News | Business News - Times of India | 4 Apr 2010 | 2:10 pm Welspun eyes stake in Saudi coB K Goenka, vice-chairman and managing director of Welspun-Gujarat Stahl Rohren, had a vision that his company will become the world's largest pipe maker.Source: India Business News | Business News - Times of India | 4 Apr 2010 | 2:06 pm Railways set to miss pvt invt target in 11th PlanEven as Mamata Banerjee made big promises in her Rail Budget and the Vision 2020 document pinning hopes on private funds, Railways is set to miss the private investment target for 11th Five-Year Plan.Source: India Business News | Business News - Times of India | 4 Apr 2010 | 2:01 pm Ellison highest paid CEO in USThe average compensation for chief executives at the largest publicly traded US companies fell 15% last year to $9.53 million, a decline attributable to the falling value of stock and option awards, the New York Times said.Source: India Business News | Business News - Times of India | 4 Apr 2010 | 1:49 pm Social biz is the new fusion buzzCan the government's pet project NREGS be made more effective if treated as a business enterprise? A school of thought has emerged that believes several social sector initiatives, if promoted as business enterprises, can have greater impact.Source: India Business News | Business News - Times of India | 4 Apr 2010 | 1:47 pm Father of mass market GPS is an IndianIf you do a Google search for 'Sanjai Kohli' you dont get very much. It even asks you whether you meant 'Sanjay Kohli'. There's not even a reference to Sanjai Kohli as the son of F C Kohli; he's F C Kohli's second son.Source: India Business News | Business News - Times of India | 4 Apr 2010 | 1:47 pm Centre plans to make national minimum wage mandatoryNew Delhi: To protect incomes of workers, the Union government plans to amend a law to make the national minimum wage mandatory across the country. At present, the labour ministry just recommends to states a minimum floor wage rate as a benchmark. In November, the floor rate was raised to Rs100 a day from Rs80. However, many states are yet to implement the hike as compliance isn’t compulsory, said a ministry official. “At the most, right now the Centre can make persuasive requests to states,” said the official, declining to be identified. “The new amendments can bring change by helping the poorest to earn the minimum ensured income.” In a series of several planned amendments to the Minimum Wages Act, 1948, the ministry proposes to empower the central labour commissioner to revise the national minimum wage every six months on the basis of changes in the Consumer Price Index for industrial workers to protect them against inflation. The amendments are being proposed amid growing concerns regarding minimum wages and poor enforcement of rules that deny workers their minimum due. Besides violating minimum wage norms, firms often do not maintain payment registers and avoid distributing salary slips in contravention of the law, said the labour ministry official cited above. The suggested penalty for such infringements has been raised from the current Rs500 to Rs5,000-10,000. A panel of secretaries last month decided to conduct a nationwide survey to assess the impact of a statutory national wage on the economy, said labour secretary Prabhat Chaturvedi. “Raising the national floor wage level is under consideration,” he said. “The committee of secretaries will take a final view on the matter.” Experts say a national minimum wage will bring about transparency as a large section of workers who are unaware of such norms will understand the system. “There is a strong rationale for it. But a detailed exercise must be carried out to arrive at what should be the wage rate as the cost of living differs in urban and rural areas,” said Ravi S. Srivastava, economics professor at Jawaharlal Nehru University. For unskilled workers, the Mahatma Gandhi National Rural Employment Guarantee Scheme offers rural households access to 100 days of manual work a year at Rs80-100 a day. Some say this scheme has pushed up wages and created a credible floor wage for other sectors more efficiently than any law could. “The concept of a national nominal wage is not particularly sensible,” said Partha Mukhopadhyay, an economist at the New Delhi-based Centre of Policy Research. “On the other hand, the national rural employment guarantee scheme has been far more effective in raising wages compared with minimum wage legislations that have been around for a long time.” maitreyee.h@livemint.com Source: LatestNews-Home - Livemint.com | 4 Apr 2010 | 1:45 pm Finmin for tighter FDI controlFavours check on downstream investments by firms with minority foreign shareholding.Source: Business Standard | Front Page Headlines | 4 Apr 2010 | 1:29 pm Delhi beat Bangalore by 37 runs, move closer to semisNew Delhi: Paul Collingwood struck a breezy 46-ball 75 before bowlers wrecked havoc as Delhi Daredevils inched closer towards booking a semifinal berth beating Royal Challengers Bangalore by 37 runs in their Indian Premier League match on Sunday. Openers Virender Sehwag (35) and David Warner (33) set the tone but it was Collingwood’s blitzkrieg, bejewelled with three fours and seven sixes, that catapulted Daredevils to a competitive 184 for five after the home team skipper Gautam Gambhir opted to bat first. The hosts then put up a disciplined bowling performance to restrict Bangalore to 147 for nine to keep their slate clean against the Anil Kumble-led side and moved one place up to the second spot in points tally. Spinner Amit Mishra and paceman Pradeep Sangwan picked up three wickets each giving away 32 and 22 runs respectively, while Farveez Maharoof, Daniel Vettori and Rajat Bhatia accounted for one wicket apiece at Ferozeshah Kotla Stadium. South African Jacques Kallis picked up his fifth fifty of IPL3 but his 42-ball 54 was not enough as the Bangalore outfit lost wickets at regular intervals and was left to do the catch up act after a slow start to their run-chase. Chasing 185 to win, Bangalore rushed to 25 in three overs after Kallis slammed two fours in the first over and picked up a couple more in the next two overs.  Delhi Daredevils’ Paul Collingwood plays a shot during the IPL3 match against Royal Challengers Bangalore at Ferozshah Kotla stadium in New Delhi on Sunday. Manvender Vashist/PTI However, Sangwan’s yorker cleaned up Pietersen as RCB slumped to 52 for two in 9.2 overs. Kallis and Robin Uthappa then tried to break the shackles and picked up a couple of sixes off Daniel Vettori in the 11th over, but Warner took a stunning catch to get rid off Uthappa in the next over.  But Taylor’s 10-ball 22 innings was cut short by Bhatia when he had the New Zealander trapped in front of the wickets. Kallis also perished in the very next over giving a simple catch to Collinwood. Needing 79 off 34 balls, Virat Kohli (13), Vinay Kumar (3), Rahul Dravid (14) and Abhimanyu Mithun (5) tried their bit but it was not enough. Earlier, Collingwood’s innings helped the home team gather a healthy total in 20 overs as the Englishman completed his second IPL3 half-century. Sehwag gave Delhi a blistering start as only fours and sixes flew from his bat. The India opener took the bowlers to the cleaners and blasted five fours and two sixes during his 22-ball cameo. After a silent first over off Kumble, which yielded just two runs, Sehwag slammed two fours in the second over off Vinay Kumar. The swashbuckling batsman then biffed Kumble for two fours and a six in his second over. New bowler Mithun was pumped into the attack and straight away he was introduced with a six by Sehwag but the lanky pacer had the last laugh as he castled him in the next ball and Delhi lost its first wicket in fifth over. Gambhir then stepped in the middle but his journey was cut short by a brilliant piece of fielding by debutant KP Appanna as Delhi slipped to 52 for two in 5.4 overs. Collingwood and Warner then added 31 runs for the third-wicket partnership. Warner was most destructive as he plundered consecutive sixes off Appanna in the ninth over before being removed by Kumble in the next over. Karthik marked his arrival with a four off Kumble but White took a blinder two balls later in Appanna’s over to dismiss the right-hander as Delhi slumped to 90 for four in 10.3 overs. However, Collingwood held the other end and clobbered two sixes and a four off White to take Delhi to 111 for four in 12 overs. New batsman Kedar Jadhav (7) was the next to go two overs later, when he was found short of the crease by wicketkeeper Uthappa. Collingwood, on the other side, kept clobbering the Bangalore bowlers and sent Kumble out of the park in the 17th over to complete his half-century. Vettori, playing his first match this year, scored 19 off 17 balls to the end of the innings. Brief score Delhi Daredevils: 184 for 5 in 20 overs (Paul Collingwood 75 not out, Virender Sehwag 35; KP Appanna 2/24). Royal Challengers Bangalore: 147 for 9 in 20 overs (Jacques Kallis 54, Ross Taylor 22; Pradeep Sangwan 3/22, Amit Mishra 3/32). Source: LatestNews-Home - Livemint.com | 4 Apr 2010 | 1:27 pm Saffron gets a green tinge at KumbhHaridwar: Giant billboards showing a sadhu on the march, staff in hand, against the backdrop of the melting whiteness of a glacier greeted visitors to Haridwar a few months ago, marking a change from the usual religious exhortations. Soham Baba, the man depicted in the hoardings, had more earthly concerns. Haridwar’s billboards usually announce—in loud saffron text—political gatherings, yoga classes or discounts on spoken English courses, apart from religious ceremonies around town.  When Soham Baba made his appearance, the saffron gave way to green. Climate change and its effects have coloured much of the religious discourse at the Kumbh mela, the massive religious congregation of Hindus held once every 12 years that runs 14 January to 28 April.  Earthly matters: 1. This is 40-year-old Soham Baba’s first appearance at the Kumbh. He runs the Netherlands-based Soham Baba Mission, a spiritual organization with chapters in 120 countries. Its slogan is ecologically apposite: recycle, renew, rejuvenate. 2. A billboard featuring Soham Baba with the message: “Stop global warming, save the glaciers, save the Himalayas and the earth.” 3. “We must protect water bodies. If we don’t, there will be decay, floods, earthquakes,” warns Swami Nischalanand Saraswati Dev, the Shankaracharya at the Purvamnay Govardhan Math at Puri, whose camp at the Kumbh attracts the largest number of devotees. 4. Another self-styled green guru, Pilot Baba, addresses a group of people on global warming and the threat it holds for the coming generation. Photographs: Ramesh Pathania/Mint The religious event, which mostly sees a large contingent of holy men propagating matters of faith, is no longer limited to sermons on loudspeakers, ritualistic dips in the Ganga river and mass dinners for the faithful. It has been turning eco-friendly, driven by growing environmental concerns in Uttarakhand over the construction of dams and gross over-pollution of the river considered holy by Hindus. The various religious camps that have set up at the Kumbh are seeking to mobilize pilgrims through tree plantation and garbage collection drives. The first Soham Baba billboard, replete with environmental slogans, read: “Save the earth from climate change. Plant trees.” What began as a trickle of humanity to the baba’s sprawling camp has built up into a steady stream of pilgrims who are seeking green guidance or are just plain curious. This is the first time that the holy man, named Sudeep Anandgiri at birth, is making an appearance at the Kumbh. The 40-year-old runs the Netherlands-based Soham Baba Mission (SBM), a spiritual organization with chapters in 120 countries. Its slogan is ecologically apposite: recycle, renew, rejuvenate. Action on climate change needs to be used as a tool for religion to make better contemporary sense, the baba says. “All saints will have to come out of the sermon mode and offer to people, especially youth, their support to relevant issues,” he explains. The saint, who says he is a trained neurosurgeon, practices what he preaches, offering water in small clay pitchers and pointing to the use of bamboo at his camp, apart from the absence of loudspeakers. “Sixteen years ago, I told everyone that glaciers are melting. No one believed me. There are many caves where ice can no more be found. There are mountain deserts where you could once find water. But it’s never too late to begin. This is the right place and the right time,” he says, as a group of women visitors approach him with garlands. One of them tells him she came after seeing his posters. “Do you understand what I am saying there? If you can, plant a tree for every dip you take in the Ganga,” he tells her, handing out a booklet on conservation. It lays out simple green tips—use solar energy, ban plastic, plant trees. The baba’s mission is engaged in other eco-friendly exercises, besides seeking to preach to the faithful. Inside the camp stands a van loaded with bags of bleaching powder ordered by the SBM for sanitizing surrounding areas and a small placard announcing the quality control cell of the mission that promotes organic foods. The mission has launched an initiative in Haridwar known as the Friends of Environment Project (FoEP) jointly with the Pilot Baba Camp, another spiritual group. FoEP volunteers, mostly local youth, clear up litter from the river bed, plant trees and install garbage bins. Somewhere between the local marketplace and Har Ki Pauri, the bank of the Ganga where Hindus believe a bath during the Kumbh washes sins away, Ved Prakash Tripathi talks of his own moment of anxiety about climate change. About two years ago, cracks appeared in the ground in Hamirpur district, a couple of hours from Mahoba where he stays. “No earthquakes, it just happened on its own. Trees have been drying up, animals have been dying from thirst,” says Tripathi, who tills a 10 acre plot of land for a living. He talks about the mud banks he created on his land in Mahoba, where it doesn’t rain enough any more. “In four-five years, it rained (last year) but the water held back by the mud banks dried in 15 days,” he says. Mahoba is one of the 13 drought-hit districts in the Bundelkhand region (seven of them in Uttar Pradesh and six in Madhya Pradesh), notorious for illegal and excessive mining activities resulting in large-scale deforestation, flash floods and drought. The federal United Progressive Alliance government led by the Congress party has approved a special Rs7,266 crore package for Bundelkhand to implement a drought mitigation strategy. The relief plan for the region, said to be Congress general secretary Rahul Gandhi’s brainchild, has however become hostage to the rivalry between his Congress party and Uttar Pradesh chief minister Mayawati’s Bahujan Samaj Party. Tripathi and many like him are turning to faith in adversity. He came to the Kumbh as a volunteer for Swami Nischalanand Saraswati Dev, the Shankaracharya, or supreme religious guru of the Hindus, at the Purvamnay Govardhan Math at Puri. Though the farmer doesn’t understand much about climate change, he now knows it has everything to do with what’s been happening back home. The Shankaracharya, whose camp sees the largest stream of pilgrims at the three-month event, flares up at the mention of dams, currently a controversial issue in Uttarakhand, often referred to as “Land of the Gods” because of a multitude of Hindu pilgrimage spots. Inside a bamboo hut, the Shankracharya delays lunch to discuss the Ganga with devotees who have queued up for an audience with him. “All the construction in the name of development would bring destruction. We must protect water bodies. If we don’t, there will be decay, floods, earthquakes,” he warns. Protests against several power projects along the Ganga have united Hindu organizations such as the Vishwa Hindu Parishad and the Ganga Raksha Manch with environmentalists. The Uttarakhand state government led by the Bharatiya Janata Party, on the other hand, wants to harness the hydroelectric potential of water bodies to make Uttarakhand an “energy state” in the next 10 years. The conservation groups seem to be gaining the upper hand: two projects—Pala Maneri and Bhairon Ghati—were stalled last year due to mounting opposition. The environmental opposition stems partly from the effects of the Tehri dam, which led the relocation of 40 villages after it started functioning in 2006. “Dam authorities do not release any water during the day which affects the flow (that’s) further limited by the Bhim Gowda barrage in Haridwar,” says Ravi Chopra, environment scientist with the Dehradun-based People’s Science Institute, a policy and research institute, and member of the National Ganga River Basin Authority, an empowered planning, financing, monitoring and coordinating authority. The Himalayan glaciers in the region have been thinning, says Chopra, who goes on trekking field trips in the area as part of his research. Twenty years ago, he says, the snow on the Himalayas did not appear like a tattered piece of fabric as it does now. Chopra says the science behind the environmental damage caused by river barrages is elementary—dams deplete rivers; drying rivers heat up valleys and affect plant productivity; the hot air from the valleys threatens glaciers. With religious groups adding their voice to the rhetoric on climate change and the issue threatening to become a critical factor in influencing votes, administrative decisions have started paying the environmental lobby greater heed. Though Uttarakhand environment ministry officials declined to comment, given the controversial nature of the subject, the Union government last week shelved both Pala Maneri and Bhairon Ghati river barrage projects in the state, according to The Times of India newspaper. pallavi.s@livemint.com Source: LatestNews-Home - Livemint.com | 4 Apr 2010 | 1:11 pm Jayawardene unbeaten ton powers Punjab to 8-wicket win over KolkataKolkata: Mahela Jayawardene cracked an unbeaten 59-ball 110 to power Kings XI Punjab to a comprehensive eight-wicket victory over Kolkata Knight Riders in a high-scoring Indian Premier League match on Sunday. Chasing a stiff 201 for a win, Kings XI were never under pressure with Jayawardene playing a blistering innings which had 14 boundaries and three sixes in it as the visitors romped home with 10 balls to spare. Jayawardene’s unbeaten century, the fourth in IPL3, overshadowed a 42-ball 88 from Kolkata Knight Riders’ opener Chris Gayle after the home side opted to bat first at the Eden Gardens. The Sri Lankan, who was sent out to open with Manvinder Bisla, was though dropped when on 51. Yuvraj’s Singh’s cameo of 16-ball 36, which was laced with two fours and three sixes, gave the final push in the run chase of Kings XI who notched up 204 for two in 18.2 overs. Captain Kumar Sangakkara chipped in with a 22-ball 38. Earlier, a hurricane 42-ball 88 from Chris Gayle powered Kolkata Knight Riders to 200 for three, their highest IPL3 total.  Kings XI Punjab’s M Jayawardene plays a shot during the IPL3 match against Kolkata Knight Riders at Eden Gardens in Kolkata on Sunday. Swapan Mahapatra/PTI For KKR, it was their fifth loss in nine matches, though they are still in contention for a semifinal spot. With Jayawardene was at his best, Kings XI Punjab began the run chase without any pressure. He found boundaries and sixes with ease and never really seemed to be bogged down by pressure both from the high required run-rate and the boisterous Eden crowd supporting the Kolkata Knight Riders. Home team captain Sourav Ganguly kept on rotating his bowlers but without any luck. There was a difficult chance in the fourth over off the bowling off rookie pacer Jaydev Unadkat when Bisla edged one but it was out of reach of Wriddhiman Saha’s dive.  Jayawardene took 17 runs off Gayle’s first over – and sixth of KKR -- by smashing the West Indian for two boundaries and a six to keep up the tempo. With his Lankan skipper giving a fine support at the other end, Jayawardene kept on scoring runs at ease. He completed his half-century from 26 balls with six fours and two sixes. KKR managed to break the 98-run all-Lankan second wicket partnership when fast bowler Shane Bond dismissed Sangakkara for 38 in the 14th over but it was too late by then with the visitors needing just over eight runs per over for a victory with eight wickets in hand. Sangakkara had two fours and as many sixes in his 22-ball 38. With just 52 needed from 38 balls when Yuvraj came in at the fall of Sanagakkara, it was just a formality for Kings XI. Yuvraj ensured that Kings XI finished their job in quick time as he hit a flurry of fours and sixes though it was Jayawardene who scored the winning run, a four off rookie left-arm pacer Jaydev Unadkat. All the seven KKR bowlers leaked runs. Bond and Kartik took one wicket apiece by conceding 32 and 41 runs respectively from four overs each. Earlier, Gayle smashed eight sixes and six fours in his blistering knock of 88 to power KKR to 200 for three. The West Indies opener and Manoj Tiwary (35 from 32 balls) added 101 runs for the second wicket, while captain Sourav Ganguly chipped in with a 31-ball 36. KKR’s previous highest in IPL III was also against the Punjab side when they scored 183 for five for a winning cause in Mohali. Having opted to rest big-hitting Kiwi opener Brendon McCullum, who joined the squad yesterday, KKR began positively with Ganguly looking in his silken touch. Continuing from where he left in the last match, Ganguly hardly took any time to settle down and found his sweet timing with boundaries flowing from his blade. He hit two boundaries in the first over bowled by Irfan Pathan and went on to launch Shalabh Srivastava for a four and then a big clean six over his head. Gayle, on the other hand, rotated the strike as the opening duo scored 46 from the first five overs, going more than nine runs per over. But just when Ganguly looked ominous his innings was cut short by Ravi Bopara, who bowled an excellent first over and his side’s eighth to reduce KKR to 56 for one. Ganguly hit five fours and a six in his knock. Brief Score Kolkata Knight Riders: 200 for 3 in 20 overs (Chris Gayle 88, Sourav Ganguly 36; Irfan Pathan 1/36). Kings XI Punjab: 204 for 2 in 18.2 overs (Mahela Jayawardene 110 not out, Kumar Sangakkara 38; Shane Bond 1/32). Source: LatestNews-Home - Livemint.com | 4 Apr 2010 | 1:00 pm Scrabbling for solutionsThe Indian Air Forces crisis in training its pilots saw a farcical twist recently when an Egyptian diplomat posted in India helpfully offered Cairos assistance. The Egyptian Air Force, he suggested to a senior IAF officer, could send a training team to Hyderabad, along with several of its trainer aircraft, the K-8 Karakorum.Source: Business Standard | Front Page Headlines | 4 Apr 2010 | 12:52 pm Mint 50 - HDFC Taxsaver FundHDFC TaxSaver fund is one of Indian mutual fund industry’s oldest tax saving equity funds. This fund offers section tax deduction benefits under section 80C up to a maximum investment of Rs one lakh. It imposes a lock-in of three years; you cannot withdraw your money from this fund before three years. Launched in 1996, the fund has returned around 35% since inception. Apart from a blip in its performance in 2007, the fund has done well in both rising and falling markets. Source: LatestNews-Home - Livemint.com | 4 Apr 2010 | 12:51 pm Museum to showcase vehicle historyIn about a year from now you will be able to stroll past streets as they were 200 years ago, and observe the vehicles in which our ancestors travelled. Source: HindustanTimes.com - Top Business News Headlines | 4 Apr 2010 | 12:47 pm One-year pause on legislation, as UPA numbers play truantThe Manmohan Singh government may have to take a legislative holiday on at least controversial issues till the next Budget session.Source: Business Standard | Front Page Headlines | 4 Apr 2010 | 12:32 pm China's yuan casts shadow over U.S.-India talksNEW DELHI (Reuters) - U.S. Treasury Secretary Timothy Geithner will try to strengthen bilateral ties with India during talks in New Delhi this week, but his visit may be overshadowed by Washington's tense relationship with China.Source: Reuters: Money News | 4 Apr 2010 | 12:30 pm R Infra commissions 600 MW unit of Hisar thermal plantAnil Ambani group firm Reliance Infrastructure on Sunday said it has commissioned a 600 MW power unit at the Rajiv Gandhi Khedar Thermal Power Plant (RGKTPP) in Haryana that will also create 15,000 jobs when it is completed. Source: HindustanTimes.com - Top Business News Headlines | 4 Apr 2010 | 10:00 am Indo-Afghan trade can be doubled, says FICCIIndia and mineral-rich Afghanistan have scope to double their two-way trade to $1 billion (Rs 4400 crore) by 2011-12, says a FICCI study. Source: HindustanTimes.com - Top Business News Headlines | 4 Apr 2010 | 9:59 am What goes through iPad will matter moreI had heard so much about it, but seeing it first-hand was amusing in a way. The crowd at the Apple Store in Chicago’s Michigan Avenue was the kind you see in India for the “first-day-first-show” of Bollywood movies. And I went in to have my first “darshan” of the iPad on the day it hit stores across the US. Source: HindustanTimes.com - Top Business News Headlines | 4 Apr 2010 | 9:57 am Wait a while longer for iPad in IndiaCraving an Apple iPad? It will be some time before the device becomes available in the Indian market. Source: HindustanTimes.com - Top Business News Headlines | 4 Apr 2010 | 9:56 am AstraZeneca to sell diabetes drugAstraZeneca Pharma India has entered the Indian anti-diabetes drug market by joining hands with Bristol-Myers Squibb India for developing and commercialising two compounds for the treatment of type-2 diabetes. Source: HindustanTimes.com - Top Business News Headlines | 4 Apr 2010 | 9:54 am How to turn high net worth snobbery into higher net worthWe are surrounded by everything foreign — and a plethora of colours that cry, styles that suck, at prices that are beyond our middle-class sensibilities. In other words, utter rubbish. Gautam Chikermane elaborates.Source: HindustanTimes.com - Top Business News Headlines | 4 Apr 2010 | 9:51 am Four dots that may join up to spell financial changeThe beginning of the new financial year has seen a number of small changes that mark a turning point for the ordinary Indian.Source: HindustanTimes.com - Top Business News Headlines | 4 Apr 2010 | 9:49 am Apple’s iPad unearthed: LG and Samsung make an appearanceRICHMOND, Virginia: Luke Soules was one of the first on the planet to get his hands on an iPad. And he wasted no time taking it apart. After staking out three locations in the eastern US, Soules—co-founder of teardown firm iFixit—cracked the device open on Saturday to unearth NAND flash memory by Samsung Electronics Co., an LCD (liquid crystal display) from LG Display and microchips from Broadcom Corp., Texas Instruments Inc. and NXP Semiconductor. Soules and his outfit provide and advise on components in Apple gadgets—and also identify them. The work of teardown firms such as iFixit may prove crucial in identifying which manufacturer gets its parts into a device expected to sell upwards of five million units in 2010 alone. Soules had slept overnight in the parking lot outside an Apple mall store in Richmond, Virginia. He was the first to walk out of the store, moments after the outlet opened at 9am, iPad in hand.  Looking inside: (Left) Luke Soules of iFixit is the first to walk out of the Apple store in Richmond, Virginia on Saturday with his iPad. Soules then performs a teardown to reveal the components that make the iPad tick. Molly Riley/Reuters Store employees clapped and gave him high-fives. He grinned, but moved quickly. There was work to do. Without a second’s dawdling, Soules hopped into a waiting car and raced a few short miles to the house of a friend, where he had his tools of destruction ready. He barely paused to admire the iPad out of the box. He didn’t even turn it on. The secretive Apple is famous for designing sealed-up devices intended to discourage nosy gadget heads from poking around in them, and the iPad was no different. The iPad had no screws. But working with a tool called a spudger, it took Soules only 10 minutes to separate the iPad’s handsome, 9.7-inch facing from its silver-backed casing. He surveyed the iPad’s design, a maze of parts that would be utterly inscrutable to most people. “That’s very, very nice,” he said almost reverentially. Teardown firms are hired by an array of clients, their data used for competitive intelligence, in patent disputes or to keep current on industry benchmarks. By 9.30am, Soules had turned the iPad inside out and was sharing its secrets with the world. There is strong competition to be first to tear open Apple devices and reveal the design, chips and components within and iFixit has gained a measure of fame for its work. Months of anticipation had built ahead of the iPad launch and—at least in technology circles—almost as much excitement about what’s on the inside of the device. Within 45 minutes, iFixit had left the iPad—the gleaming symbol of Apple’s technological wizardry—in tatters, its various parts naked against a crisp white backdrop. Soules moved at a rapid clip, narrating as he took pictures and streamed to colleague Kyle Wiens and others in California, who were posting them online and helping identify parts. Near-live teardowns have become staples for gadget fans during Apple product launches. As a veteran of many previous efforts, Soules was prepared for any tricks Apple might throw his way, but the iPad didn’t prove to be too enormous a challenge to take apart, as some of the previous devices have. Soules had removed the main circuit board of the iPad by 10am. The 4-inch long, 1-ounce board was covered by an electromagnetic interference shield, and underneath were all the microprocessors that make the device tick. “The vast majority of the brains of the iPad are on this little board. It’s amazing what they can fit into such a small space,” Soules said. One of the first identifiable parts was the NAND flash memory, which was made by Samsung, which has supplied components for other Apple devices. Soules also quickly noted chips from Broadcom, Texas Instruments. There were also at least three chips carrying Apple branding. Apple is known to hide the identities of some chip makers in its products by having them stamp an Apple logo on their parts. The main iPad chip is an Apple creation; its very own A4 processor controls the iPad’s programs. Samsung is manufacturing the A4 chip for Apple says iFixit. After removing the circuit board, Soules dug in further using a Torx screwdriver to manipulate the minuscule screws inside the iPad. His fingernails gingerly pried open casings. “The teardown process is bit easier if I keep my fingernails on the long side,” he said. Soules discovered the iPad’s battery is not soldered into place, which means that replacing it is possible for the do-it-yourself crowd. iFixit promotes device repair as a way to cut down on electronic waste. Apple requires users to mail iPad units back to the company, which will change the battery for a hefty fee. By 10.45am Soules was cautiously fiddling with the iPad’s display, the most expensive component. While he was unable to determine who made the display on his unit, another iFixit teardown at a different location revealed one from LG, meaning Apple could be using displays from more than one supplier. Besides Richmond, iFixit had also ordered iPads at addresses near Indianapolis and Orlando, Florida. The company had people in both areas, home to FedEx Corp.’s shipping hubs. iFixit thought it might be able to get a few hours’ jump on the competition by staking out the FedEx hubs the morning of the launch, to intercept one of the devices. But that didn’t pan out, so its staff resorted to standing in line—at the head of the line actually—in three cities. The Federal Communications Commission (FCC) also managed to steal at least some of iFixit’s thunder. Bloggers discovered on Friday that the FCC had posted pictures of the insides of pre-production iPads on its website, despite the fact that Apple had requested that they keep them confidential. iFixit spent much of the night identifying the parts, which were not necessarily the same as those in real iPads. By noon on Saturday, the bulk of the iPad teardown was done. But there will be at least another week of analysis, using sophisticated equipment that can cut into components to determine how they were made, and who made them. feedback@livemint.com Source: Tech News - Livemint.com | 4 Apr 2010 | 9:47 am Apple’s iPad unearthed: LG and Samsung make an appearanceRICHMOND, Virginia: Luke Soules was one of the first on the planet to get his hands on an iPad. And he wasted no time taking it apart. After staking out three locations in the eastern US, Soules—co-founder of teardown firm iFixit—cracked the device open on Saturday to unearth NAND flash memory by Samsung Electronics Co., an LCD (liquid crystal display) from LG Display and microchips from Broadcom Corp., Texas Instruments Inc. and NXP Semiconductor. Soules and his outfit provide and advise on components in Apple gadgets—and also identify them. The work of teardown firms such as iFixit may prove crucial in identifying which manufacturer gets its parts into a device expected to sell upwards of five million units in 2010 alone. Soules had slept overnight in the parking lot outside an Apple mall store in Richmond, Virginia. He was the first to walk out of the store, moments after the outlet opened at 9am, iPad in hand. Looking inside: (Left) Luke Soules of iFixit is the first to walk out of the Apple store in Richmond, Virginia on Saturday with his iPad. Soules then performs a teardown to reveal the components that make the iPad tick. Molly Riley/Reuters Store employees clapped and gave him high-fives. He grinned, but moved quickly. There was work to do. Without a second’s dawdling, Soules hopped into a waiting car and raced a few short miles to the house of a friend, where he had his tools of destruction ready. He barely paused to admire the iPad out of the box. He didn’t even turn it on. The secretive Apple is famous for designing sealed-up devices intended to discourage nosy gadget heads from poking around in them, and the iPad was no different. The iPad had no screws. But working with a tool called a spudger, it took Soules only 10 minutes to separate the iPad’s handsome, 9.7-inch facing from its silver-backed casing. He surveyed the iPad’s design, a maze of parts that would be utterly inscrutable to most people. “That’s very, very nice,” he said almost reverentially. Teardown firms are hired by an array of clients, their data used for competitive intelligence, in patent disputes or to keep current on industry benchmarks. By 9.30am, Soules had turned the iPad inside out and was sharing its secrets with the world. There is strong competition to be first to tear open Apple devices and reveal the design, chips and components within and iFixit has gained a measure of fame for its work. Months of anticipation had built ahead of the iPad launch and—at least in technology circles—almost as much excitement about what’s on the inside of the device. Within 45 minutes, iFixit had left the iPad—the gleaming symbol of Apple’s technological wizardry—in tatters, its various parts naked against a crisp white backdrop. Soules moved at a rapid clip, narrating as he took pictures and streamed to colleague Kyle Wiens and others in California, who were posting them online and helping identify parts. Near-live teardowns have become staples for gadget fans during Apple product launches. As a veteran of many previous efforts, Soules was prepared for any tricks Apple might throw his way, but the iPad didn’t prove to be too enormous a challenge to take apart, as some of the previous devices have. Soules had removed the main circuit board of the iPad by 10am. The 4-inch long, 1-ounce board was covered by an electromagnetic interference shield, and underneath were all the microprocessors that make the device tick. “The vast majority of the brains of the iPad are on this little board. It’s amazing what they can fit into such a small space,” Soules said. One of the first identifiable parts was the NAND flash memory, which was made by Samsung, which has supplied components for other Apple devices. Soules also quickly noted chips from Broadcom, Texas Instruments. There were also at least three chips carrying Apple branding. Apple is known to hide the identities of some chip makers in its products by having them stamp an Apple logo on their parts. The main iPad chip is an Apple creation; its very own A4 processor controls the iPad’s programs. Samsung is manufacturing the A4 chip for Apple says iFixit. After removing the circuit board, Soules dug in further using a Torx screwdriver to manipulate the minuscule screws inside the iPad. His fingernails gingerly pried open casings. “The teardown process is bit easier if I keep my fingernails on the long side,” he said. Soules discovered the iPad’s battery is not soldered into place, which means that replacing it is possible for the do-it-yourself crowd. iFixit promotes device repair as a way to cut down on electronic waste. Apple requires users to mail iPad units back to the company, which will change the battery for a hefty fee. By 10.45am Soules was cautiously fiddling with the iPad’s display, the most expensive component. While he was unable to determine who made the display on his unit, another iFixit teardown at a different location revealed one from LG, meaning Apple could be using displays from more than one supplier. Besides Richmond, iFixit had also ordered iPads at addresses near Indianapolis and Orlando, Florida. The company had people in both areas, home to FedEx Corp.’s shipping hubs. iFixit thought it might be able to get a few hours’ jump on the competition by staking out the FedEx hubs the morning of the launch, to intercept one of the devices. But that didn’t pan out, so its staff resorted to standing in line—at the head of the line actually—in three cities. The Federal Communications Commission (FCC) also managed to steal at least some of iFixit’s thunder. Bloggers discovered on Friday that the FCC had posted pictures of the insides of pre-production iPads on its website, despite the fact that Apple had requested that they keep them confidential. iFixit spent much of the night identifying the parts, which were not necessarily the same as those in real iPads. By noon on Saturday, the bulk of the iPad teardown was done. But there will be at least another week of analysis, using sophisticated equipment that can cut into components to determine how they were made, and who made them. feedback@livemint.com Source: World Business - Livemint.com | 4 Apr 2010 | 9:47 am IMF draft raises 2010 world growth forecast - reportsMILAN (Reuters) - The world economy could grow 4.1 percent this year, 0.2 points more than previously forecast, the International Monetary Fund (IMF) says in the latest draft of its World Economic Outlook, Italian news agency ANSA reported.Source: Reuters: Money News | 4 Apr 2010 | 4:19 am
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