Sunday, July 31, 2011
How To Stop Hair Loss and Prevent Hair Baldness
Possessing dense and luxuriant mane covering the scalp is the dream of us all. However, very often this dream is eclipsed by the nightmare of large scale hair loss. It brings with it worries and depression. We start to desperately look for ways and means to check this menace completely or at least curb it.
It may be mentioned that a certain rate of hair fall i.e. loss of a number of hair strands per day is normal. However, when it exceeds a certain limit then it becomes a cause of concern and is considered as a problem.
Causes of hair loss and their remedies
The causes of hair loss may be many. Very often some internal malady may be the root cause. This needs to be ascertained. Bringing into effect the proper preventive treatments can stop hair loss even before it begins by detecting the symptoms. Diseases like lupus or diabetes are a cause for hair loss. The hair loss serves as an early indication of the disease. The hair loss gets treated alongside the treatment of the disease.
Hair loss can also be the side effect of certain medication. When the administration of such medicines producing hair loss is discontinued the hair loss also stops.
Lack of proper nutrition- inadequate intake of vitamins, minerals, proteins etc. may cause hair loss. Ensuring proper nutrition usually checks such hair loss.
As after effect of a major surgery or illness you may lose much hair. However, this loss is considered to be temporary and is associated to the illness or stress borne by the surgical operation carried out. Post pregnancy hair loss is also commonly heard of. This is due to some temporary hormonal changes which soon ceases. Otherwise the help of a doctor is required.
Hormonal imbalances may result in hair loss. The malfunctioning of the thyroid glands may cause hair loss. Attending to the particular type of hormonal problem and adequate treatment provided for it helps overcome the excessive hair loss too.
Treatments of hair loss are carried out as per the nature and correct cause of the problem. A proper diagnosis which may include blood tests and biopsy needs to be done for detecting the problem.
Hair loss arising from some infection of the scalp can be treated as per prescription from a doctor. Medicines are available for retarding or preventing the development of baldness by hair loss. It takes some time to find out the efficacy of such drugs.
It must be borne in mind that there is a hereditary factor too which may be working behind hair loss and baldness. This is also observed to be more prevalent in case of men. This is not easy to counteract.
It may be that no suitable treatment can stop the hair loss and baldness develops. In such cases persons concerned about their personal beauty and aesthetics with regards to their crowning glory may opt for a wig or a hairpiece. New techniques of hair grafting and hair weaving can also be sought resort to.
Cause of hair loss in men:
DHT (Dihydrotestosterone) is a highly active form of testosterone that causes hair follicle to degrade thereby shortening the anagen phase. 5-alpha reductase is the enzyme that affects the conversion of testosterone to DHT. A shorter anagen stage results in more hair fall as well as rapidly thinning hair. However, the sebaceous glands attached to the hair follicles remain unchanged. The glands continue to secrete oil and therefore it will be noticed that thinning hair results in flatter and oilier hair.
Types of hair loss:
Telogen Effluvium: Hair loss of this kind begins with overall thinning of hair from the entire scalp. A condition of this kind starts manifesting itself after an extremely stressful condition such as pregnancy, major surgery or any life-changing event. Hormonal fluctuations can also result in Telogen Effluvium. Synchronized shifts from Anagen to Talogen phases will result in this kind of sudden hair loss. Once the underlying cause is identified and suitably addressed, the hair cycles will revert to their unsynchronized patterns resulting in a normal hair growth cycle.
Androgenetic Alopecia: Females suffering Androgenetic Alopecia rarely bald completely. Androgenetic alopecia can result from thinning of hair due to genetic factors. The hair on the crown area shows a marked thinning. Female pattern Baldness (FPB) is characterized by general thinning of hair all over the head. This typically begins around the age of 30 and becomes prominent around 40. Linked to menopause, this condition leads to a balding area around the head or sometimes a receding hairline.
Alopecia Areata: This kind of balding pattern appears as small round patches of hair loss. It is a hair loss disease that appears to be set off as an autoimmune reaction when the cells prevent hair follicles from producing hair. This condition is characterized by sudden hair loss followed by patches of baldness and finally the hair growth is restored.
Thursday, July 28, 2011
Republicans put off vote debt limit
An intense endgame at hand, House Republican leaders put off a vote Thursday night on legislation to avert a threatened government default and slice federal spending by nearly $1 trillion.
GOP leaders announced their decision after abruptly halting debate on the legislation and plunging into an intensive round of meetings with rebellious conservatives.
The decision created fresh turmoil as a divided government struggled to head off a default threatened after next Tuesday that would leave the Treasury without the funds needed to pay all its bills.
As the evening slipped by, the White House poked fun at Republicans led by Speaker John Boehner, who has become President Barack Obama's principal antagonist in a contentious era of divided government. And Senate Democrats pledged to scuttle the measure -- if it ever got to them -- to force a final compromise.
Boehner summoned a string of Republican critics of the bill to his office.
Asked what he and the speaker had talked about, Rep. Jeff Flake, R-Ariz., said, "I think that's rather obvious. ... There's negotiations going on."
Based on public statements by lawmakers themselves, it appeared that five of some two dozen holdouts were from South Carolina. The state is also represented by Sen. Jim DeMint, who has solid ties to tea party groups and is a strong critic of compromising on the debt issue.
A few first-term conservatives slipped into a small chapel a few paces down the hall from the Capitol Rotunda as they contemplated one of the most consequential votes of their careers.
Asked if he was seeking divine inspiration, Rep. Tim Scott, R-S.C., said that had already happened. "I was leaning no and now I am a no."
Many more congregated in the office of the chief GOP vote counter, California Rep. Kevin McCarthy, perhaps drawn to the 19 boxes of pizza that were rolled in. Boehner joined them but did not speak to reporters.
"Clock ticks towards August 2, House is naming post offices, while leaders twist arms for a pointless vote. No wonder people hate Washington," White House Communications Director Dan Pfeiffer tweeted.
Earlier, Boehner had exuded optimism.
"Let's pass this bill and end the crisis," said the president's principal Republican antagonist in a new and contentious era of divided government. "It raises the debt limit and cuts government spending by a larger amount."
President Barack Obama has threatened to veto the measure, and in debate on the House floor, Rep. Debbie Wasserman Schultz of Florida savaged it as a "Republican plan for default." She said the GOP hoped to "hold our economy hostage while forcing an ideological agenda" on the country.
Despite the sharp rhetoric, there were signs that gridlock might be giving way.
"Around here you've got to have deadlock before you have breakthrough," said Sen. Kent Conrad, D-N.D. "We're at that stage now."
Wall Street suffered fresh losses as Congress struggled to break its long gridlock. The Dow Jones industrial average was down for a fifth straight session.
The Treasury Department moved ahead with plans to hold its regular weekly auction of three-month and six-month securities on Monday. Yet officials offered no information on what steps would be taken if Congress failed to raise the nation's $14.3 trillion debt limit by the following day.
Without signed legislation by Aug. 2, the Treasury will not have enough funds to pay all the nation's bills. Administration officials have warned of potentially calamitous effects on the economy if that happens -- a spike in interest rates, a plunge in stock markets and a tightening in the job market in a nation already struggling with unemployment over 9 percent.
White House press secretary Jay Carney outlined White House compromise terms: "significant deficit reduction, a mechanism by which Congress would take on the tough issues of tax reform and entitlement reform and a lifting of the debt ceiling beyond ... into 2013."
The last point loomed as the biggest obstacle.
The House bill cuts spending by $917 billion over a decade, principally by holding down costs for hundreds of government programs ranging from the Park Service to the Agriculture Department and foreign aid.
It also provides an immediate debt limit increase of $900 billion, which is less than half of the total needed to meet Obama's insistence that there be no replay of the current crisis in the heat of the 2012 election campaigns.
An additional $1.6 trillion in borrowing authority would be conditioned on passage of The endgame at hand, House Republicans struggled Thursday to pass legislation to prevent a looming government default while slicing nearly $1 trillion from federal spending. Senate Democrats pledged to scuttle the bill -- if it got to them -- in hopes of forcing a final compromise.
The GOP bill's $917 billion in upfront spending cuts was trillions less than many tea party-backed rank-and-file Republican lawmakers wanted, but a total that seemed nearly unimaginable when they took power in the House last winter with an agenda of reining in government. Numerous Republicans grumbled that the legislation didn't cut more deeply, and Boehner and the rest of the GOP leadership have spent their week cajoling reluctant conservatives to provide the votes needed to pass it.
By most accounts, they were succeeding.
"It gives us a little bit of heartburn because it doesn't go big enough," said Rep. Sean Duffy, R-Wis., a first-term lawmaker who said he would vote for the bill as the best one available.
Another first-term Republican, Rep. Martha Roby of Alabama, said the bill was "far from perfect. But I don't have the luxury of writing the plan by myself, and neither does Speaker Boehner."
While the White House and Democrats objected to the House bill, they readied an alternative that contained similarities.
Drafted by Senate Majority Leader Harry Reid, it provides for $2.7 trillion in additional borrowing authority for the Treasury. It also calls for cuts of $2.2 trillion, including about $1 trillion in Pentagon savings that assume the end of the wars in Iraq and Afghanistan.
Even before the House voted, Reid served notice he would stage a vote to kill the legislation almost instantly.
"No Democrat will vote for a short-term Band-Aid that would put our economy at risk and put the nation back in this untenable situation a few short months from now," he said.
With the House and Senate focused on debt-limit legislation at opposite ends of the Capitol, 11 religious leaders protesting budget cuts were arrested in the Rotunda midway between the two chambers.
Democratic Rep. Chellie Pingree of Maine said on the House floor that they were praying for those who will be "hurt the hardest" by the bill being considered.
Rep. David Dreier, R-Calif., countered that he, too was praying -- to avoid a default.
The day's events marked the climax of a struggle that began last winter, when the Treasury Department notified Congress it would need additional borrowing authority, and Boehner said any increase would have to include steps to reduce future spending.
At first the White House balked at the terms, then relented. That gradually morphed into a series of bipartisan negotiations, one led by Vice President Joe Biden, then another by Obama, and finally, a round of golf that led to stab at a "grand bargain" between the president and Boehner.
Boehner announced last Friday he was calling off the talks, setting in motion a frantic week of maneuvering as the default deadline grew near.
Associated Press writers Andrew Taylor, Donna Cassata, Stephen Ohlemacher, Larry Margasak, Martin Crutsinger, Charles Babington, Darlene Superville and Jim Kuhnhenn contributed to this report.
GOP leaders announced their decision after abruptly halting debate on the legislation and plunging into an intensive round of meetings with rebellious conservatives.
The decision created fresh turmoil as a divided government struggled to head off a default threatened after next Tuesday that would leave the Treasury without the funds needed to pay all its bills.
As the evening slipped by, the White House poked fun at Republicans led by Speaker John Boehner, who has become President Barack Obama's principal antagonist in a contentious era of divided government. And Senate Democrats pledged to scuttle the measure -- if it ever got to them -- to force a final compromise.
Boehner summoned a string of Republican critics of the bill to his office.
Asked what he and the speaker had talked about, Rep. Jeff Flake, R-Ariz., said, "I think that's rather obvious. ... There's negotiations going on."
Based on public statements by lawmakers themselves, it appeared that five of some two dozen holdouts were from South Carolina. The state is also represented by Sen. Jim DeMint, who has solid ties to tea party groups and is a strong critic of compromising on the debt issue.
A few first-term conservatives slipped into a small chapel a few paces down the hall from the Capitol Rotunda as they contemplated one of the most consequential votes of their careers.
Asked if he was seeking divine inspiration, Rep. Tim Scott, R-S.C., said that had already happened. "I was leaning no and now I am a no."
Many more congregated in the office of the chief GOP vote counter, California Rep. Kevin McCarthy, perhaps drawn to the 19 boxes of pizza that were rolled in. Boehner joined them but did not speak to reporters.
"Clock ticks towards August 2, House is naming post offices, while leaders twist arms for a pointless vote. No wonder people hate Washington," White House Communications Director Dan Pfeiffer tweeted.
Earlier, Boehner had exuded optimism.
"Let's pass this bill and end the crisis," said the president's principal Republican antagonist in a new and contentious era of divided government. "It raises the debt limit and cuts government spending by a larger amount."
President Barack Obama has threatened to veto the measure, and in debate on the House floor, Rep. Debbie Wasserman Schultz of Florida savaged it as a "Republican plan for default." She said the GOP hoped to "hold our economy hostage while forcing an ideological agenda" on the country.
Despite the sharp rhetoric, there were signs that gridlock might be giving way.
"Around here you've got to have deadlock before you have breakthrough," said Sen. Kent Conrad, D-N.D. "We're at that stage now."
Wall Street suffered fresh losses as Congress struggled to break its long gridlock. The Dow Jones industrial average was down for a fifth straight session.
The Treasury Department moved ahead with plans to hold its regular weekly auction of three-month and six-month securities on Monday. Yet officials offered no information on what steps would be taken if Congress failed to raise the nation's $14.3 trillion debt limit by the following day.
Without signed legislation by Aug. 2, the Treasury will not have enough funds to pay all the nation's bills. Administration officials have warned of potentially calamitous effects on the economy if that happens -- a spike in interest rates, a plunge in stock markets and a tightening in the job market in a nation already struggling with unemployment over 9 percent.
White House press secretary Jay Carney outlined White House compromise terms: "significant deficit reduction, a mechanism by which Congress would take on the tough issues of tax reform and entitlement reform and a lifting of the debt ceiling beyond ... into 2013."
The last point loomed as the biggest obstacle.
The House bill cuts spending by $917 billion over a decade, principally by holding down costs for hundreds of government programs ranging from the Park Service to the Agriculture Department and foreign aid.
It also provides an immediate debt limit increase of $900 billion, which is less than half of the total needed to meet Obama's insistence that there be no replay of the current crisis in the heat of the 2012 election campaigns.
An additional $1.6 trillion in borrowing authority would be conditioned on passage of The endgame at hand, House Republicans struggled Thursday to pass legislation to prevent a looming government default while slicing nearly $1 trillion from federal spending. Senate Democrats pledged to scuttle the bill -- if it got to them -- in hopes of forcing a final compromise.
The GOP bill's $917 billion in upfront spending cuts was trillions less than many tea party-backed rank-and-file Republican lawmakers wanted, but a total that seemed nearly unimaginable when they took power in the House last winter with an agenda of reining in government. Numerous Republicans grumbled that the legislation didn't cut more deeply, and Boehner and the rest of the GOP leadership have spent their week cajoling reluctant conservatives to provide the votes needed to pass it.
By most accounts, they were succeeding.
"It gives us a little bit of heartburn because it doesn't go big enough," said Rep. Sean Duffy, R-Wis., a first-term lawmaker who said he would vote for the bill as the best one available.
Another first-term Republican, Rep. Martha Roby of Alabama, said the bill was "far from perfect. But I don't have the luxury of writing the plan by myself, and neither does Speaker Boehner."
While the White House and Democrats objected to the House bill, they readied an alternative that contained similarities.
Drafted by Senate Majority Leader Harry Reid, it provides for $2.7 trillion in additional borrowing authority for the Treasury. It also calls for cuts of $2.2 trillion, including about $1 trillion in Pentagon savings that assume the end of the wars in Iraq and Afghanistan.
Even before the House voted, Reid served notice he would stage a vote to kill the legislation almost instantly.
"No Democrat will vote for a short-term Band-Aid that would put our economy at risk and put the nation back in this untenable situation a few short months from now," he said.
With the House and Senate focused on debt-limit legislation at opposite ends of the Capitol, 11 religious leaders protesting budget cuts were arrested in the Rotunda midway between the two chambers.
Democratic Rep. Chellie Pingree of Maine said on the House floor that they were praying for those who will be "hurt the hardest" by the bill being considered.
Rep. David Dreier, R-Calif., countered that he, too was praying -- to avoid a default.
The day's events marked the climax of a struggle that began last winter, when the Treasury Department notified Congress it would need additional borrowing authority, and Boehner said any increase would have to include steps to reduce future spending.
At first the White House balked at the terms, then relented. That gradually morphed into a series of bipartisan negotiations, one led by Vice President Joe Biden, then another by Obama, and finally, a round of golf that led to stab at a "grand bargain" between the president and Boehner.
Boehner announced last Friday he was calling off the talks, setting in motion a frantic week of maneuvering as the default deadline grew near.
Associated Press writers Andrew Taylor, Donna Cassata, Stephen Ohlemacher, Larry Margasak, Martin Crutsinger, Charles Babington, Darlene Superville and Jim Kuhnhenn contributed to this report.
Wednesday, July 27, 2011
Auto, realty sectors unhappy at interest rate hike
Automobile and realty sectors Tuesday voiced reservations over the RBI decision to hike interest rates by 50 basis points to tame inflation, which sets the stage for commercial banks to raise interest charged on personal and corporate loans.
'If today's rate increase is passed on to the retail lending rate for cars, it will further impact the sales,' Arvind Saxena, director, marketing and sales, Hyundai Motor India Ltd, told IANS.
Saxena said the impact of the latest hike in basis points would be more on the small car segment.
'The impact is felt more on the small car segment as the customers have relatively lower affordability,' Saxena said.
Saxena's views were shared by Pawan Goenka, president of the Society of Indian Automobile Manufacturers (SIAM) who felt that the move would hit automobile sales hard.
'The 50 bps hike in the interest rates announced by the RBI could hit passenger vehicle sales very hard,' said Goenka.
Goenka further said the rate hike by RBI had led SIAM to scale down passenger vehicle sales forecast for this year, from 16-18 percent to 10-12 percent.
'We will have to wait and see the response by the banks to this latest interest rate hike to assess the real impact on the market,' Goenka said.
SIAM said the auto industry, already reeling under the pressure from high interest rates, fuel and input costs, could see further dampening in short to medium term sales as buyers may decide to postpone vehicle purchase.
'The growth rate of the passenger vehicle sales has dropped from about 33 percent last year to about 9 percent in the last quarter,' SIAM said in a statement.
In the real estate sector, experts say the slow-down in sales due to high interest rates on home loan will only worsen, as builders would now have to pass on even the extra cost of borrowing for new projects on customers.
'As real estate developer, we are not left with any choice but to pass on the same to our buyers, resulting in increase in property prices,' said Pradeep Jain, chairman of Parsvnath Developers Limited who also heads the Confederation of Real Estate Developers' Association of India (CREDAI).
Jain said that rate tightening in the past 17 months has already resulted in moderation of growth coupled with fall in consumption of cement, steel and automobiles during the first quarter of 2011-12 fiscal.
'The effects of slower growth have also been seen in sales of everything, may be real estate, may be car sales etc,' Jain said.
The rate hikes were effected by Reserve Bank of India (RBI) Governor D. Subbarao during the first quarterly review of the apex bank's monetary policy for this fiscal conducted at his headquarters in Mint Road here.
The repurchase rate, the interest the central bank levies on short-term borrowing by commercial banks, has been hiked to 8 percent from 7.5 percent and reverse repurchase rate, or interest paid on short-term lending, raised to 7 percent from 6.5 percent.
'If today's rate increase is passed on to the retail lending rate for cars, it will further impact the sales,' Arvind Saxena, director, marketing and sales, Hyundai Motor India Ltd, told IANS.
Saxena said the impact of the latest hike in basis points would be more on the small car segment.
'The impact is felt more on the small car segment as the customers have relatively lower affordability,' Saxena said.
Saxena's views were shared by Pawan Goenka, president of the Society of Indian Automobile Manufacturers (SIAM) who felt that the move would hit automobile sales hard.
'The 50 bps hike in the interest rates announced by the RBI could hit passenger vehicle sales very hard,' said Goenka.
Goenka further said the rate hike by RBI had led SIAM to scale down passenger vehicle sales forecast for this year, from 16-18 percent to 10-12 percent.
'We will have to wait and see the response by the banks to this latest interest rate hike to assess the real impact on the market,' Goenka said.
SIAM said the auto industry, already reeling under the pressure from high interest rates, fuel and input costs, could see further dampening in short to medium term sales as buyers may decide to postpone vehicle purchase.
'The growth rate of the passenger vehicle sales has dropped from about 33 percent last year to about 9 percent in the last quarter,' SIAM said in a statement.
In the real estate sector, experts say the slow-down in sales due to high interest rates on home loan will only worsen, as builders would now have to pass on even the extra cost of borrowing for new projects on customers.
'As real estate developer, we are not left with any choice but to pass on the same to our buyers, resulting in increase in property prices,' said Pradeep Jain, chairman of Parsvnath Developers Limited who also heads the Confederation of Real Estate Developers' Association of India (CREDAI).
Jain said that rate tightening in the past 17 months has already resulted in moderation of growth coupled with fall in consumption of cement, steel and automobiles during the first quarter of 2011-12 fiscal.
'The effects of slower growth have also been seen in sales of everything, may be real estate, may be car sales etc,' Jain said.
The rate hikes were effected by Reserve Bank of India (RBI) Governor D. Subbarao during the first quarterly review of the apex bank's monetary policy for this fiscal conducted at his headquarters in Mint Road here.
The repurchase rate, the interest the central bank levies on short-term borrowing by commercial banks, has been hiked to 8 percent from 7.5 percent and reverse repurchase rate, or interest paid on short-term lending, raised to 7 percent from 6.5 percent.
Tuesday, July 26, 2011
Ready for impact of possible U.S. default - RBI
India has sufficient liquidity to manage a possible debt default by the United States, and the Reserve Bank of India is prepared for any resulting repercussions in the financial markets, Governor Duvvuri Subbarao said on Tuesday.
The country has had scheduled bilateral consultation with the United States, but the RBI was not a part of the talks and the discussion did not concern the U.S. debt impasse, Subbarao said at the post policy press conference.
Earlier on Tuesday, RBI raised interest rates by a higher-than-expected 50 basis points, its 11th since March 2010, stepping up its fight against persistently high inflation despite slowing growth in Asia's third-largest economy
The country has had scheduled bilateral consultation with the United States, but the RBI was not a part of the talks and the discussion did not concern the U.S. debt impasse, Subbarao said at the post policy press conference.
Earlier on Tuesday, RBI raised interest rates by a higher-than-expected 50 basis points, its 11th since March 2010, stepping up its fight against persistently high inflation despite slowing growth in Asia's third-largest economy
Sunday, July 24, 2011
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Thursday, July 21, 2011
Biocon Q1 net profit up 7.4 pct
Biocon Ltd, India's top-listed biotechnology firm, on Thursday said profit rose 7.4 percent in its fiscal first quarter, but lagged consensus forecasts.
Bangalore-based Biocon said consolidated net profit rose to 700.5 million rupees ($15.76 million) for the quarter ended June from 652.2 million rupees in the year-ago quarter.
A Reuters poll of brokerages had expected the company to post a net profit of 896 million rupees.
Bangalore-based Biocon said consolidated net profit rose to 700.5 million rupees ($15.76 million) for the quarter ended June from 652.2 million rupees in the year-ago quarter.
A Reuters poll of brokerages had expected the company to post a net profit of 896 million rupees.
Food inflation at 7.58%,no change in fuel index.
India food inflation for the week ended July 9 came in at 7.58 per cent as against 8.31 per cent the previous week while the fuel price index remained unchanged at 11.89 per cent. The primary articles price index was up 11.13 percent, compared with an annual rise of 11.58 percent a week earlier.
The Reserve Bank of India has been frequently hiking interest rates in an effort to curb inflation and is expected to raise rates by another 25 basis points in its monetary review next week. The central bank has spiked its key rates a record 10 times since March 2010 whereby it has pushed up the short-term lending (repo) and reverse repo or borrowing rates by a massive 275 basis points.
The Indian Bank's Association in its meeting with the RBI Deputy Governor had urged the central bank to pause in its interest rate hike as it would retard India's economic growth.
The wholesale price inflation quickened in June to an annual 9.44 percent from 9.06 percent in May, driven by higher prices of manufactured goods and fuel, even though the economy showed signs of cooling.
The Congress-led coalition government also raised diesel prices by around nine percent at the end of June for the first time in a year, far below the near 36 per cent gain seen in international prices over the same period, but enough to rouse public protest contributing further to India's inflation
However, the government is now expected to pause in its price hike or even announce deregulation of diesel prices this year, as concerns over inflation and state elections eclipse the need to cut spending and keep pace with global oil prices.
The Reserve Bank of India has been frequently hiking interest rates in an effort to curb inflation and is expected to raise rates by another 25 basis points in its monetary review next week. The central bank has spiked its key rates a record 10 times since March 2010 whereby it has pushed up the short-term lending (repo) and reverse repo or borrowing rates by a massive 275 basis points.
The Indian Bank's Association in its meeting with the RBI Deputy Governor had urged the central bank to pause in its interest rate hike as it would retard India's economic growth.
The wholesale price inflation quickened in June to an annual 9.44 percent from 9.06 percent in May, driven by higher prices of manufactured goods and fuel, even though the economy showed signs of cooling.
The Congress-led coalition government also raised diesel prices by around nine percent at the end of June for the first time in a year, far below the near 36 per cent gain seen in international prices over the same period, but enough to rouse public protest contributing further to India's inflation
However, the government is now expected to pause in its price hike or even announce deregulation of diesel prices this year, as concerns over inflation and state elections eclipse the need to cut spending and keep pace with global oil prices.
Wednesday, July 20, 2011
Delhi Police arrest Hindustani, second in 'cash-for-votes' scam
New Delhi, July 20 : Delhi Police made the second arrest in the 2008 'cash-for-votes' scam by taking into custody Suhail Hindustani on Wednesday.
He had allegedly acted as a liaison between former Samajwadi Party lawmaker Amar Singh and lawmakers of the Bharatiya Janata Party in the bribe -related matter.
According to a Times Now report, Hindustani was arrested after seven hours of questioning by the Crime Branch and charges under Prevention of Corruption Act were against him.
The channel quoted police sources, as saying that Hindustani was summoned for questioning after the arrest of Sanjeev Saxena, once considered close to Singh, for allegedly delivering cash to three BJP lawmakers.
While appearing for questioning, Hindustani sought to drag Prime Minister Manmohan Singh and Congress President Sonia Gandhi in the cash-for-vote scam by levelling allegations against them, and saying he would tell the same to the police.
"I received calls from Amar Singh and Ahmed Patel (Political Secretary to Congress President Sonia Gandhi). Those close to Prime Minister (Manmohan Singh) called me and even from 10-Janpath (Gandhi's residence)," claimed Hindustani to reporters before being questioned by the police.
He, however, did not not identify all those who allegedly called him.
Moving ahead with the probe after the Supreme Court slammed it last week, Police is expected to question Amar Singh, former Samajwadi Party leader. Delhi Police had sought views of Union Home Ministry on questioning Singh.
Rajya Sabha Secretariat said there was no need for its permission to question Singh, a member of the Upper House.
"No permission for interrogation of Amar Singh has been sought from the Chairman of Rajya Sabha (Hamid Ansari). So the question of giving permission does not arise," Rajya Sabha Secretary General V K Agnihotri told a news agency.
BJP MP Ashok Argal, who is alleged to have been offered Rs one crore bribe, and BJP leader L K Advani's former aide Sudheendra Kulkarni who had allegedly organised the sting operation, may also be questioned, police sources said.
Before entering the police complex, Hindustani said he would tell police whatever he had told the Parliamentary Committee which probed the cash-for-vote scam.
Asked what he had told the Committee, he alleged that Amar Singh told him that he was working on Prime Minister's directions along with Ahmed Patel to save the government.
"People could not believe that Manmohan Singh and Congress party could stoop to this level to save the government," he said, alleging that the operation was done by Amar Singh and some Congress leaders.
He said police should examine his call records, which he claimed would throw light on who all who called him between July nine and 22 of 2008.
"I challenge them. These people tried to bribe me. They asked me why are you aligned with BJP? Is your life going haywire? Come, align with us and we will give you some big posts like Chairmanship. They told me that if you get one MP, we will give you Rs 5-10 crore as commission," he claimed.
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He had allegedly acted as a liaison between former Samajwadi Party lawmaker Amar Singh and lawmakers of the Bharatiya Janata Party in the bribe -related matter.
According to a Times Now report, Hindustani was arrested after seven hours of questioning by the Crime Branch and charges under Prevention of Corruption Act were against him.
The channel quoted police sources, as saying that Hindustani was summoned for questioning after the arrest of Sanjeev Saxena, once considered close to Singh, for allegedly delivering cash to three BJP lawmakers.
While appearing for questioning, Hindustani sought to drag Prime Minister Manmohan Singh and Congress President Sonia Gandhi in the cash-for-vote scam by levelling allegations against them, and saying he would tell the same to the police.
"I received calls from Amar Singh and Ahmed Patel (Political Secretary to Congress President Sonia Gandhi). Those close to Prime Minister (Manmohan Singh) called me and even from 10-Janpath (Gandhi's residence)," claimed Hindustani to reporters before being questioned by the police.
He, however, did not not identify all those who allegedly called him.
Moving ahead with the probe after the Supreme Court slammed it last week, Police is expected to question Amar Singh, former Samajwadi Party leader. Delhi Police had sought views of Union Home Ministry on questioning Singh.
Rajya Sabha Secretariat said there was no need for its permission to question Singh, a member of the Upper House.
"No permission for interrogation of Amar Singh has been sought from the Chairman of Rajya Sabha (Hamid Ansari). So the question of giving permission does not arise," Rajya Sabha Secretary General V K Agnihotri told a news agency.
BJP MP Ashok Argal, who is alleged to have been offered Rs one crore bribe, and BJP leader L K Advani's former aide Sudheendra Kulkarni who had allegedly organised the sting operation, may also be questioned, police sources said.
Before entering the police complex, Hindustani said he would tell police whatever he had told the Parliamentary Committee which probed the cash-for-vote scam.
Asked what he had told the Committee, he alleged that Amar Singh told him that he was working on Prime Minister's directions along with Ahmed Patel to save the government.
"People could not believe that Manmohan Singh and Congress party could stoop to this level to save the government," he said, alleging that the operation was done by Amar Singh and some Congress leaders.
He said police should examine his call records, which he claimed would throw light on who all who called him between July nine and 22 of 2008.
"I challenge them. These people tried to bribe me. They asked me why are you aligned with BJP? Is your life going haywire? Come, align with us and we will give you some big posts like Chairmanship. They told me that if you get one MP, we will give you Rs 5-10 crore as commission," he claimed.
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Tuesday, July 19, 2011
How to Get a Business Loan
How to Get a Business Loan
Small businesses are the economic lifeblood of this country, and the majority of them began with help in the form of a small business loan. Very few small business owners have the funds available privately to start or expand their enterprise, so most are forced to seek out loans to move their vision forward.
But, there are some things that everyone should know before applying for a small business loan. It's always important to know what the bank or lending institution is looking for, what factors go into their decision to either grant or reject your loan. By playing to these factors, you can better your chances of securing that money for your business.
What is your personal story? Firstly, the bank will want to know about you. Your credit history, experience and education will all be factors preliminarily considered in the process of your application. These things speak to who you are as a business person, your credibility for running your own business.
What is your business plan? The meat of your proposal will be in your business plan. This is an outline you will present to the bank detailing your business idea while providing answers to questions the bank has.
How much are you applying for? This figure should be all-encompassing. It should include costs for startup and overhead, as well as operations costs like payroll and inventory. It is very important to you and the bank that this number be as accurate as possible.
Where is this money going? Again, accuracy and detail are important here. Your business plan should have a detailed breakdown of how much is going where and for what.
When can you repay your loan? This is the question that anyone, from the bank to your wealthy relative will want an answer for. Be professional. Use financial statements and cash-flow projections to illustrate how your business will generate profit and be a good investment for the bank.
Small businesses are the economic lifeblood of this country, and the majority of them began with help in the form of a small business loan. Very few small business owners have the funds available privately to start or expand their enterprise, so most are forced to seek out loans to move their vision forward.
But, there are some things that everyone should know before applying for a small business loan. It's always important to know what the bank or lending institution is looking for, what factors go into their decision to either grant or reject your loan. By playing to these factors, you can better your chances of securing that money for your business.
What is your personal story? Firstly, the bank will want to know about you. Your credit history, experience and education will all be factors preliminarily considered in the process of your application. These things speak to who you are as a business person, your credibility for running your own business.
What is your business plan? The meat of your proposal will be in your business plan. This is an outline you will present to the bank detailing your business idea while providing answers to questions the bank has.
How much are you applying for? This figure should be all-encompassing. It should include costs for startup and overhead, as well as operations costs like payroll and inventory. It is very important to you and the bank that this number be as accurate as possible.
Where is this money going? Again, accuracy and detail are important here. Your business plan should have a detailed breakdown of how much is going where and for what.
When can you repay your loan? This is the question that anyone, from the bank to your wealthy relative will want an answer for. Be professional. Use financial statements and cash-flow projections to illustrate how your business will generate profit and be a good investment for the bank.
How to Pay Zero Interest on Your Credit Card Balance Until 2013
If you’re heading into Spring with a fat balance on your credit card, you’re not alone. Millions of Americans have incurred excessive debt over the past few years, and this trend spikes early in the year.
And, when it comes to credit card debt, there is some good news and some bad news.
First, the bad news. Starting in Feb of 2011, new rules and regulations went effect that more tightly regulate what credit card companies can do. They're not able to retroactively increase rates, must have 45 days advance notice of rate hikes, and are limited in what they charge for overdraft fees. So, how can this be bad news for consumers?
Well, the bad news is that in order to compensate for lost revenue from these new rules, credit card companies have been jacking up interest rates for everyone. You may already have received notice that your borrowing costs have gone up.
So, what’s the good news? Well, the good news is that there still remains something people can do to immediately cut the interest rate on the amount they owe on their credit card to zero. It’s called a zero interest balance transfer.
By transferring the balance of your debt from your current credit card to a new interest-free card, you can give yourself time (often up to 21 months) during which no interest is charged against your starting balance. This allows all the money you make in payments each month to be applied directly into paying down your balance, shrinking the amount you owe much faster. This can greatly benefit your credit score and credit-to-debt ratio, both of which can make you much more attractive to lenders.
There are some things to consider before transferring your balance to a new card:
Always take into account the length of the zero percent APR period.
Be sure you are able to pay off your balance within this introductory period. Otherwise, high interest rates often kick in when the period ends.
Make a payment schedule and set aside money each month to pay towards your balance.
Ask up front about transfer fees. These can come as unexpected surprises and throw off the payment plan you have created.
So, how do you go about finding the very best credit card with a zero percent APR on balance transfers?
More good news! There is a great, free online service called CreditCards.com that can help you find offers from credit card companies eager to get your balance transfer business. All of the credit card offers are presented clearly so they’re easy to compare, and you can find the offer that works best for you.
The site is also a tremendous informational resource for consumers wanting to make informed decisions about their spending.
For many people, a zero balance transfer is a complete no brainer, and can result in significant savings in the short term. After all, why would you pay a penny more in interest than you have to? And, by eliminating your debt, you improve your credit score, and earn lower interest rates on your credit cards.
And, when it comes to credit card debt, there is some good news and some bad news.
First, the bad news. Starting in Feb of 2011, new rules and regulations went effect that more tightly regulate what credit card companies can do. They're not able to retroactively increase rates, must have 45 days advance notice of rate hikes, and are limited in what they charge for overdraft fees. So, how can this be bad news for consumers?
Well, the bad news is that in order to compensate for lost revenue from these new rules, credit card companies have been jacking up interest rates for everyone. You may already have received notice that your borrowing costs have gone up.
So, what’s the good news? Well, the good news is that there still remains something people can do to immediately cut the interest rate on the amount they owe on their credit card to zero. It’s called a zero interest balance transfer.
By transferring the balance of your debt from your current credit card to a new interest-free card, you can give yourself time (often up to 21 months) during which no interest is charged against your starting balance. This allows all the money you make in payments each month to be applied directly into paying down your balance, shrinking the amount you owe much faster. This can greatly benefit your credit score and credit-to-debt ratio, both of which can make you much more attractive to lenders.
There are some things to consider before transferring your balance to a new card:
Always take into account the length of the zero percent APR period.
Be sure you are able to pay off your balance within this introductory period. Otherwise, high interest rates often kick in when the period ends.
Make a payment schedule and set aside money each month to pay towards your balance.
Ask up front about transfer fees. These can come as unexpected surprises and throw off the payment plan you have created.
So, how do you go about finding the very best credit card with a zero percent APR on balance transfers?
More good news! There is a great, free online service called CreditCards.com that can help you find offers from credit card companies eager to get your balance transfer business. All of the credit card offers are presented clearly so they’re easy to compare, and you can find the offer that works best for you.
The site is also a tremendous informational resource for consumers wanting to make informed decisions about their spending.
For many people, a zero balance transfer is a complete no brainer, and can result in significant savings in the short term. After all, why would you pay a penny more in interest than you have to? And, by eliminating your debt, you improve your credit score, and earn lower interest rates on your credit cards.
Monday, July 18, 2011
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Sunday, July 17, 2011
TCS to hire 20,000 employees
Tata Consultancy Services (TCS), country's largest software exporter is likely to hire up to 20,000 employees in second quarter of the current fiscal and about 60,000 people in the ongoing financial year 2011-12. During the quarter ended June 30, the company made a gross addition of 11,988 employees, while 8,412 left the organization.
During the first quarter the attrition rate was 14.8% as compared to 14.4% last quarter (Q4 FY11). People leave for higher studies and there are also cases of dissatisfaction because of the wage hike in April quarter causing certain amount of attrition. In the January-March quarter, 2011, the company had done 75% of fresh hiring and 25 lateral hiring, however for 20,000 of headcount during the current quarter the company expects to hire 55 fresh and 45 lateral.
TCS is chasing 12 large deals in the United States, UK and elsewhere in Europe, and additional deals in emerging net profit after tax for the quarter ended June 30, 2011 surged by 32.51% at Rs 2062.43 crore as compared to Rs 1556.41 crore for the quarter ended June 30, 2010. Its total income has increased by 37.59% to Rs 8870.96 crore for the quarter under review from Rs 6447.38 crore for the similar quarter of the previous year.
During the first quarter the attrition rate was 14.8% as compared to 14.4% last quarter (Q4 FY11). People leave for higher studies and there are also cases of dissatisfaction because of the wage hike in April quarter causing certain amount of attrition. In the January-March quarter, 2011, the company had done 75% of fresh hiring and 25 lateral hiring, however for 20,000 of headcount during the current quarter the company expects to hire 55 fresh and 45 lateral.
TCS is chasing 12 large deals in the United States, UK and elsewhere in Europe, and additional deals in emerging net profit after tax for the quarter ended June 30, 2011 surged by 32.51% at Rs 2062.43 crore as compared to Rs 1556.41 crore for the quarter ended June 30, 2010. Its total income has increased by 37.59% to Rs 8870.96 crore for the quarter under review from Rs 6447.38 crore for the similar quarter of the previous year.
Suzlon Energy receives order worth Rs 650 crore from OGPL
Suzlon Energy, the world’s fifth largest wind turbine manufacturer has received an order from Orient Green Power Company (OGPL) for over 100 megawatts (MW) of wind power projects. The order is valued worth Rs 650 crore, comprises 48 units of Suzlon’s S95 wind turbines, part of Suzlon’s newly introduced S9X suite.
These projects are scheduled to be commissioned progressively by June 2012, with 50.4 MW of capacity coming online in Gujarat by May 2012, and the remaining 50.4 MW in Karnataka by June 2012.
Recently, Suzlon Energy’s subsidiary company -- REpower Systems AG -- and Alerion Clean Power Spa, an Italy based renewable energy company had signed a contract for a wind project in the South of Italy. REpower Systems will deliver thirteen 3.4M104 wind turbines to San Marco in Lamis, a 44 megawatt (MW) wind farm situated north east of Foggia.
Suzlon has posted a net loss of Rs 185.66 crore whereas the same was at Rs 1414.09 crore for the year ended March 31, 2010. Total income of the company is Rs 4698.06 crore for this year where as the same was at Rs 3731.82 crore for the year ago period.
SOURCE : NEWS
These projects are scheduled to be commissioned progressively by June 2012, with 50.4 MW of capacity coming online in Gujarat by May 2012, and the remaining 50.4 MW in Karnataka by June 2012.
Recently, Suzlon Energy’s subsidiary company -- REpower Systems AG -- and Alerion Clean Power Spa, an Italy based renewable energy company had signed a contract for a wind project in the South of Italy. REpower Systems will deliver thirteen 3.4M104 wind turbines to San Marco in Lamis, a 44 megawatt (MW) wind farm situated north east of Foggia.
Suzlon has posted a net loss of Rs 185.66 crore whereas the same was at Rs 1414.09 crore for the year ended March 31, 2010. Total income of the company is Rs 4698.06 crore for this year where as the same was at Rs 3731.82 crore for the year ago period.
SOURCE : NEWS
Saturday, July 16, 2011
Chance to stabilise US economy for decades
US President Barack Obama on Friday said Congress has a “unique opportunity to do something big” and stabilise the economy by cutting deficits even as it raises the national debt limit to avert an unprecedented default.
Saying he was ready to make tough decisions and challenging Republicans to do the same, Obama attempted to turn the Republicans’ opposition to any tax increases back against them, warning that failure to raise the debt ceiling would mean “effectively a tax increase for everybody”.
Administration officials and private economists say that if the US fails to raise its borrowing limit by August 2 and begins to stop paying its bills as a result, the fragile US economy could be cast into a crisis that would reverberate around the globe.
The US hit its current $14.3 trillion debt ceiling in May and has been juggling its books since then. Republicans, who control the House of Representatives, say they won’t raise the debt limit unless Democrats agree to major spending cuts to reduce the spiralling US deficit.
Saying he was ready to make tough decisions and challenging Republicans to do the same, Obama attempted to turn the Republicans’ opposition to any tax increases back against them, warning that failure to raise the debt ceiling would mean “effectively a tax increase for everybody”.
Administration officials and private economists say that if the US fails to raise its borrowing limit by August 2 and begins to stop paying its bills as a result, the fragile US economy could be cast into a crisis that would reverberate around the globe.
The US hit its current $14.3 trillion debt ceiling in May and has been juggling its books since then. Republicans, who control the House of Representatives, say they won’t raise the debt limit unless Democrats agree to major spending cuts to reduce the spiralling US deficit.
टाटा मोटर्स की छोटी कार नैनो का डीजल वर्जन
डीजल गाड़ियों की बढ़ती बिक्री को देखते हुए अब टाटा मोटर्स भी अपनी छोटी कार नैनो का डीजल वर्जन लांच करने जा रही है। टाटा मोटर्स ने नैनो का डीजल वेरिएंट बाजार में उतारने की घोषणा की है।
माना जा रहा है कि साल 2012 की शुरुआत तक डीजल इंजन वाली नैनो बाजार में आ जाएगी।
इसके अलावा टाटा मोटर्स कारों की बिक्री बढ़ाने के लक्ष्य को पूरा करने के लिए नैनो को गांवों तक पहुंचाने की तैयारी कर रही है। जल्द ही टाटा मोटर्स की गांवों में नैनो के लिए 300 आउटलेट खोलने की योजना है।
इतना ही नहीं टाटा मोटर्स भारतीय गांवों के साथ विदेश में भी कारोबार बढ़ाने की योजनाओं के तहत अफ्रीका, खाड़ी देशों और दक्षिण पूर्व एशिया में नैनो के प्लांट लगा सकती है।
माना जा रहा है कि साल 2012 की शुरुआत तक डीजल इंजन वाली नैनो बाजार में आ जाएगी।
इसके अलावा टाटा मोटर्स कारों की बिक्री बढ़ाने के लक्ष्य को पूरा करने के लिए नैनो को गांवों तक पहुंचाने की तैयारी कर रही है। जल्द ही टाटा मोटर्स की गांवों में नैनो के लिए 300 आउटलेट खोलने की योजना है।
इतना ही नहीं टाटा मोटर्स भारतीय गांवों के साथ विदेश में भी कारोबार बढ़ाने की योजनाओं के तहत अफ्रीका, खाड़ी देशों और दक्षिण पूर्व एशिया में नैनो के प्लांट लगा सकती है।
Thursday, July 14, 2011
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Indian ecomomy is on fast track and is going to double-triple within next 5 years.All the sectors are prepared to gear up .
Now the million dollor question is what the investers should do in these conditions.because market indices sensex and nifty are playing on see-saw ,making investers puzzled.Investers are still undescided .I am writing this article just to make it clear that its the time to invest not to get puzzled.Nifty which is trading at 5500-5700 levels today is definately going to make a life time high of 7500 befor ending of the current year.it will cross 8500 levels till 2012 and will be seen at 20,000 + befor 2016.What i am talking is not just a dream but its based on the growth everage of the same.As per my point of view the sectors which are going to lead the markets are banking,infrastructure and reality.If you have an horizon of 2-3 years than you can invest in HDFC BANK,SBI SUZLON,BHARTI AIRTEL & HDILThese scrips ,if included in your portfolio can double -tripple your investments within 2-3 years.
Wednesday, July 13, 2011
Obama condemns Mumbai blasts
United States President Barack Obama said that he strongly condemned the “outrageous attacks in Mumbai,” and his thoughts and prayers were with the wounded and those who had lost loved ones.
In a statement Mr. Obama added that the U.S. government continued to “monitor the situation, including the safety and security of our citizens.”
“India is a close friend and partner of the U.S.,” the President added, underscoring that “the American people will stand with the Indian people in times of trial, and we will offer support to India’s efforts to bring the perpetrators of these terrible crimes to justice.”
He reflected upon his trip to Mumbai last November, saying, “I saw firsthand the strength and resilience of the Indian people, and I have no doubt that the India will overcome these deplorable terrorist attacks.”
In a statement Mr. Obama added that the U.S. government continued to “monitor the situation, including the safety and security of our citizens.”
“India is a close friend and partner of the U.S.,” the President added, underscoring that “the American people will stand with the Indian people in times of trial, and we will offer support to India’s efforts to bring the perpetrators of these terrible crimes to justice.”
He reflected upon his trip to Mumbai last November, saying, “I saw firsthand the strength and resilience of the Indian people, and I have no doubt that the India will overcome these deplorable terrorist attacks.”
Terror attack in Mumbai; serial blasts kill 30, injure 113
Terror struck Mumbai when three near simultaneous blasts ripped through crowded areas in the this evening killing at least 21 people and injuring 113 in a grim reminder of the deadly 2008 Mumbai attack.
Maharashtra deputy chief minister Ajit Pawar said 21 people had died in the back-to-back explosions which struck in a span of 14 minutes, apparently aimed at causing maximum casualties during the peak hour.
Union home minister P Chidamabaram said the quick succession of the blasts showed that it was a "coordinated attack by terrorists."
All the explosions were triggered by Improvised Explosive Devices (IED), a home ministry official said, adding 113 were injured.
The first explosion rocked Zaveri Bazaar, a popular jewellery market, at 6.50pm and a minute later another blast shook the busy business area Opera House. A third blast ripped through crowded Dadar area in Central Mumbai at 7.04pm.
The blast sites were splattered with blood as some bodies lay strewn around while cars and motorcyles were charred in the impact of the explosions in the country's financial capital.
No group claimed responsibility but Mumbai police suspects the hand of Indian Mujahideen (IM). Chavan declined to speculate on who could be behind the attack.
Mumbai police commissioner Arup Patnaik said the blasts at Opera House and Zaveri Bazaar were of a higher intensity than the one at Dadar.
"It is a terror act. Quite obvious that some terror element is involved in the attack. Zaveri Bazaar blast exploded with use of IED kept in an abandoned umbrella. All three blasts occurred between 6.50pm and 7pm," Patnaik said.
All the injured have suffered burn injuries.
Maharashtra chief minister Ashok Chavan said the blast at Opera House was the "most powerful". He appealed to people to maintain calm and not to get swayed by rumours.
The explosions struck this metropolis two days after the fifth anniversary of the serial train blasts here that had left 186 dead and 800 injured.
While the blast in Zaveri Bazaar was triggered through explosives planted in an umbrella, the one in Dadar West was caused by an explosive device concealed in a meter box of the electric cabinet of a BEST bus stop. Preliminary reports said that the explosives were kept inside a Maruti Esteem in the Dadar blast. Police late tonight said that the blast at Dadar was of low intensity.
The umbrella was apparently used to camouflage the explosive during the downpour being witnessed in the city, in the bustling Khau Gali in Zaveri Bazaar, according to police commissioner Arup Patnaik.
The scene of the blast in Dadar is less than a kilometre from the headquarters of hardline saffron outfit Shiv Sena.
The Opera House blast took place at Prasad Chamber building where a loud explosion was heard around 6.45pm and people ran helter-skelter in blood-soaked clothes with shards of glass strewn all over the area.
The blast at Khau Gali in Dadar, outside the `Mohanbhai' stall, left several mutilitated bodies lying in a pool of blood.
"The entire lane was splashed with blood...There were 4-5 mutilated bodies lying around and people were fleeing the spot in fear," said Vijay, a carpenter.
According to Jayant Patil, guardian minister for Mumbai, 29 injured were brought to Harkishandas hospital from Opera House of whom six were serious.
At St Georges hospital, co-director Pravin Shingare said of the nine admitted there one was in a critical condition, while among 19 admitted to GT Hospital one was serious.
Seven injured at Dadar have been admitted to KEM Hospital, while several others are undergoing treatment at Saifee and JJ Hospitals.
Two teams of CFSL from Delhi and Hyderabad have been rushed to Mumbai where NSG and NIA personnel are assisting the local police in investigations.
The city has been put on a high alert with pickets erected at several places, city police commissioner Arup Patnaik said.
Maharashtra deputy chief minister Ajit Pawar said 21 people had died in the back-to-back explosions which struck in a span of 14 minutes, apparently aimed at causing maximum casualties during the peak hour.
Union home minister P Chidamabaram said the quick succession of the blasts showed that it was a "coordinated attack by terrorists."
All the explosions were triggered by Improvised Explosive Devices (IED), a home ministry official said, adding 113 were injured.
The first explosion rocked Zaveri Bazaar, a popular jewellery market, at 6.50pm and a minute later another blast shook the busy business area Opera House. A third blast ripped through crowded Dadar area in Central Mumbai at 7.04pm.
The blast sites were splattered with blood as some bodies lay strewn around while cars and motorcyles were charred in the impact of the explosions in the country's financial capital.
No group claimed responsibility but Mumbai police suspects the hand of Indian Mujahideen (IM). Chavan declined to speculate on who could be behind the attack.
Mumbai police commissioner Arup Patnaik said the blasts at Opera House and Zaveri Bazaar were of a higher intensity than the one at Dadar.
"It is a terror act. Quite obvious that some terror element is involved in the attack. Zaveri Bazaar blast exploded with use of IED kept in an abandoned umbrella. All three blasts occurred between 6.50pm and 7pm," Patnaik said.
All the injured have suffered burn injuries.
Maharashtra chief minister Ashok Chavan said the blast at Opera House was the "most powerful". He appealed to people to maintain calm and not to get swayed by rumours.
The explosions struck this metropolis two days after the fifth anniversary of the serial train blasts here that had left 186 dead and 800 injured.
While the blast in Zaveri Bazaar was triggered through explosives planted in an umbrella, the one in Dadar West was caused by an explosive device concealed in a meter box of the electric cabinet of a BEST bus stop. Preliminary reports said that the explosives were kept inside a Maruti Esteem in the Dadar blast. Police late tonight said that the blast at Dadar was of low intensity.
The umbrella was apparently used to camouflage the explosive during the downpour being witnessed in the city, in the bustling Khau Gali in Zaveri Bazaar, according to police commissioner Arup Patnaik.
The scene of the blast in Dadar is less than a kilometre from the headquarters of hardline saffron outfit Shiv Sena.
The Opera House blast took place at Prasad Chamber building where a loud explosion was heard around 6.45pm and people ran helter-skelter in blood-soaked clothes with shards of glass strewn all over the area.
The blast at Khau Gali in Dadar, outside the `Mohanbhai' stall, left several mutilitated bodies lying in a pool of blood.
"The entire lane was splashed with blood...There were 4-5 mutilated bodies lying around and people were fleeing the spot in fear," said Vijay, a carpenter.
According to Jayant Patil, guardian minister for Mumbai, 29 injured were brought to Harkishandas hospital from Opera House of whom six were serious.
At St Georges hospital, co-director Pravin Shingare said of the nine admitted there one was in a critical condition, while among 19 admitted to GT Hospital one was serious.
Seven injured at Dadar have been admitted to KEM Hospital, while several others are undergoing treatment at Saifee and JJ Hospitals.
Two teams of CFSL from Delhi and Hyderabad have been rushed to Mumbai where NSG and NIA personnel are assisting the local police in investigations.
The city has been put on a high alert with pickets erected at several places, city police commissioner Arup Patnaik said.
Tuesday, July 12, 2011
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Monday, July 11, 2011
MCX gold futures extend gains to 2-week high
India gold futures extended gains for another session on Monday to hit their highest level in more than two weeks, following overseas markets and a weaker rupee, which made the dollar-denominated yellow metal expensive, analysts said.
* The most-active gold for August delivery on the Multi Commodity Exchange (MCX) was trading 0.26 percent higher at 22,410 rupees per 10 grams, after hitting a high of 22,435 rupees, a level last seen on June 26.
* Physical dealers stayed on the sidelines, awaiting better bargains, traders said.
* The Indian rupee eased and retreated further from a two-month high hit in the previous session, tracking a fall in the euro and Asian currencies, with weaker local stocks also weighing, but strong dollar inflows limited the rupee's drop.
* Gold priced in sterling hit a record high, powered by a broad push into bullion that also sent euro-denominated metal to a lifetime peak as deepening concern over the spread of the euro zone crisis rattled investors.
* India, the world's biggest buyer of bullion, is in the middle of the sowing season, when farmers, the traditional buyers of the yellow metal, divert their savings to agricultural equipments and fertilizers.
* The most-active gold for August delivery on the Multi Commodity Exchange (MCX) was trading 0.26 percent higher at 22,410 rupees per 10 grams, after hitting a high of 22,435 rupees, a level last seen on June 26.
* Physical dealers stayed on the sidelines, awaiting better bargains, traders said.
* The Indian rupee eased and retreated further from a two-month high hit in the previous session, tracking a fall in the euro and Asian currencies, with weaker local stocks also weighing, but strong dollar inflows limited the rupee's drop.
* Gold priced in sterling hit a record high, powered by a broad push into bullion that also sent euro-denominated metal to a lifetime peak as deepening concern over the spread of the euro zone crisis rattled investors.
* India, the world's biggest buyer of bullion, is in the middle of the sowing season, when farmers, the traditional buyers of the yellow metal, divert their savings to agricultural equipments and fertilizers.
car sale rate ,slowest in june 2011
Car sales in India rose 1.6 percent in June, their slowest pace of growth in more than two years, as rising interest rates, fuel prices and vehicle costs shrunk demand in the world's second-fastest growing auto market.
Indian auto sales, which grew at a breakneck pace of 30 percent in fiscal year 2011, are driven by a burgeoning aspirational middle class that relies mainly on bank loans for its purchases.
But the Reserve Bank of India has raised interest rates ten times since March last year in an effort to battle stubbornly high inflation, a move that has forced consumers to tighten their purse strings.
"This was expected. Rising interest rates and inflation are contributing to slowing sales. Also, ahead of the monsoons, demand for cars typically slows down," Kishor Ostwal, chairman at brokerage CNI Research, said.
Sales at top car maker Maruti Suzuki India fell 8.8 percent to 80,298 vehicles in June, marking the first fall since December 2008.
Production at Maruti, majority-owned by Japan 's Suzuki Motor, was hurt by a strike last month that led to a production loss of about 16,000 cars.
Sales at Tata Motors , India's largest maker of trucks and buses and the manufacturer of the Nano, touted as the world's cheapest car, fell 1 percent. Sales of the Nano plunged 29 percent.
Indian automakers sold 143,370 cars in June, their slowest pace since March 2009, according to data from the Society of Indian Automobile Manufacturers (SIAM) released on Monday.
Sales of trucks and buses however, a key barometer of economic health, rose 17.8 percent to 62,009 vehicles in June.
Indian auto sales, which grew at a breakneck pace of 30 percent in fiscal year 2011, are driven by a burgeoning aspirational middle class that relies mainly on bank loans for its purchases.
But the Reserve Bank of India has raised interest rates ten times since March last year in an effort to battle stubbornly high inflation, a move that has forced consumers to tighten their purse strings.
"This was expected. Rising interest rates and inflation are contributing to slowing sales. Also, ahead of the monsoons, demand for cars typically slows down," Kishor Ostwal, chairman at brokerage CNI Research, said.
Sales at top car maker Maruti Suzuki India fell 8.8 percent to 80,298 vehicles in June, marking the first fall since December 2008.
Production at Maruti, majority-owned by Japan 's Suzuki Motor, was hurt by a strike last month that led to a production loss of about 16,000 cars.
Sales at Tata Motors , India's largest maker of trucks and buses and the manufacturer of the Nano, touted as the world's cheapest car, fell 1 percent. Sales of the Nano plunged 29 percent.
Indian automakers sold 143,370 cars in June, their slowest pace since March 2009, according to data from the Society of Indian Automobile Manufacturers (SIAM) released on Monday.
Sales of trucks and buses however, a key barometer of economic health, rose 17.8 percent to 62,009 vehicles in June.
Sunday, July 10, 2011
TCS, HCL Technologies to lead IT pack with solid Q1 results
Top Indian IT companies like TCS and HCL Technologies are expected to post strong results in April-June quarter, with revenues growing by 1-7 percent on the back of strong demand, say market analysts.
While TCS and HCL Technologies are expected to lead the pack with income growth of 7 and 5.8 percent, respectively, Infosys and Wipro are likely to report a relatively soft set of numbers on account of the organizational restructuring, they tell.
Industry bellwether Infosys will be the first to announce its results on July 12, followed by Tata Consultancy Services (TCS) on July 14 while Wipro will release quarterly results on July 20.
"We expect robust sequential volume growth for most companies...Positive cross-currency kicker should aid reported USD revenue growth further. All in all, we expect 1-7 percent q-o-q USD revenue growth from the Tier-I names, with TCS leading the pack and Wipro being the weakest, in line with its guidance," Kotak Institutional Equities Research said in its Q1 FY'12 preview of the Technology sector report.
We also expect Infosys' revenue performance to be relatively soft with the company just about meeting the upper-end of its q-o-q revenue growth guidance at cross-currency rates assumed in its guidance, it added.
Despite concerns about the global economy, demand for IT services across sectors like banking, financial services and insurance (BFSI), retail and manufacturing remains robust.
For the June quarter, Tata Consultancy Services (TCS) is expected to lead the pack with a 7 percent sequential revenue growth, followed by HCL Technologies with a 5.8 percent quarter on quarter (QoQ) growth, Sharekhan said in its Q1 FY'12 IT earnings preview.
Infosys is expected to grow by 4.4 percent in topline, while Wipro's IT services is likely to post a 3.4 percent QoQ growth.
Mid-cap firms like Polaris Software Lab and NIIT Technologies are likely to report an around five percent sequential revenue, it added.
However, analysts say the recent visa controversies are something to watch out for. "Issues pertaining to visas and potential aggravation of protectionist policy in the US have raised an alarm for an outsourcing backlash in the coming years.
"Although most of the companies' managements have indicated at a strong demand undercurrent for FY2012, they and industry bodies have also voiced concerns on the visa issue," Sharekhan said.
"Given the backdrop, we believe that in the upcoming earnings season there will be larger focus on specific management commentary on these issues, which will provide clarity and roadmap for the future," it added.
While TCS and HCL Technologies are expected to lead the pack with income growth of 7 and 5.8 percent, respectively, Infosys and Wipro are likely to report a relatively soft set of numbers on account of the organizational restructuring, they tell.
Industry bellwether Infosys will be the first to announce its results on July 12, followed by Tata Consultancy Services (TCS) on July 14 while Wipro will release quarterly results on July 20.
"We expect robust sequential volume growth for most companies...Positive cross-currency kicker should aid reported USD revenue growth further. All in all, we expect 1-7 percent q-o-q USD revenue growth from the Tier-I names, with TCS leading the pack and Wipro being the weakest, in line with its guidance," Kotak Institutional Equities Research said in its Q1 FY'12 preview of the Technology sector report.
We also expect Infosys' revenue performance to be relatively soft with the company just about meeting the upper-end of its q-o-q revenue growth guidance at cross-currency rates assumed in its guidance, it added.
Despite concerns about the global economy, demand for IT services across sectors like banking, financial services and insurance (BFSI), retail and manufacturing remains robust.
For the June quarter, Tata Consultancy Services (TCS) is expected to lead the pack with a 7 percent sequential revenue growth, followed by HCL Technologies with a 5.8 percent quarter on quarter (QoQ) growth, Sharekhan said in its Q1 FY'12 IT earnings preview.
Infosys is expected to grow by 4.4 percent in topline, while Wipro's IT services is likely to post a 3.4 percent QoQ growth.
Mid-cap firms like Polaris Software Lab and NIIT Technologies are likely to report an around five percent sequential revenue, it added.
However, analysts say the recent visa controversies are something to watch out for. "Issues pertaining to visas and potential aggravation of protectionist policy in the US have raised an alarm for an outsourcing backlash in the coming years.
"Although most of the companies' managements have indicated at a strong demand undercurrent for FY2012, they and industry bodies have also voiced concerns on the visa issue," Sharekhan said.
"Given the backdrop, we believe that in the upcoming earnings season there will be larger focus on specific management commentary on these issues, which will provide clarity and roadmap for the future," it added.
KV Kamath says economy growing at 11%
The Indian economy is growing faster than the officially quoted 8%-8.5% GDP growth rate, said KV Kamath, the newly appointed chairman of Infosys Technologies.
At a meet-the-press event here on Saturday, Kamath said India is actually growing at 11%-12%. Kamath said the economic data used to compute growth rates are not accurate. "As long as we don't have the right statistics, there is a question over the growth rate," he said.
There are several uncounted and unaccounted figures which could easily add another 3-4 percentage points to India's GDP, he said. India, he said, is thus growing at the double-digit rates we have become used to seeing in China in recent years and Japan in the 1980s. As for India's per capita income, Kamath said India stands where China was 10 years ago, and in the next 10 years, it will stand at where China's per capita income stands today. Kamath said for this growth to be truly transformational and benefit a larger proportion of the masses, India has to put more emphasis on certain areas.
The manufacturing sector must further expand as it has the capacity to generate large-scale employment. Infrastructure bottlenecks must be addressed as they hinder development.
Also, consumer demand must be kept robust to drive the economy. He said technology too could help in greater percolation of benefits to the poor. The use of the unique identification platform for cash-transfer schemes using Aadhaar-linked bank accounts would prevent leakages in subsidy programmes like LPG and kerosene. On the high interest rate environment, Kamath said the most affected would be retail customers who take home loans, auto loans, etc. Businesses can tide over these times with internal accruals, he said.
At a meet-the-press event here on Saturday, Kamath said India is actually growing at 11%-12%. Kamath said the economic data used to compute growth rates are not accurate. "As long as we don't have the right statistics, there is a question over the growth rate," he said.
There are several uncounted and unaccounted figures which could easily add another 3-4 percentage points to India's GDP, he said. India, he said, is thus growing at the double-digit rates we have become used to seeing in China in recent years and Japan in the 1980s. As for India's per capita income, Kamath said India stands where China was 10 years ago, and in the next 10 years, it will stand at where China's per capita income stands today. Kamath said for this growth to be truly transformational and benefit a larger proportion of the masses, India has to put more emphasis on certain areas.
The manufacturing sector must further expand as it has the capacity to generate large-scale employment. Infrastructure bottlenecks must be addressed as they hinder development.
Also, consumer demand must be kept robust to drive the economy. He said technology too could help in greater percolation of benefits to the poor. The use of the unique identification platform for cash-transfer schemes using Aadhaar-linked bank accounts would prevent leakages in subsidy programmes like LPG and kerosene. On the high interest rate environment, Kamath said the most affected would be retail customers who take home loans, auto loans, etc. Businesses can tide over these times with internal accruals, he said.
latest news : 35 killed, 200 injured as Delhi-bound train derails
At least 35 people were killed and over 200 injured when 15 bogies of a speeding Delhi-bound Kalka Mail derailed here today in the worst train accident this year.
The derailment took place at 12.20 PM when the packed train from Howrah reached near Malwa station, nearly 120 kms from Lucknow.
"15 bogies of the train derailed out of which 10 are in bad shape. The exact cause of the derailment is being ascertained. The commissioner of railway safety has been directed to probe the incident," General manager, North Central Railway HC Joshi said.
He said the train was speeding at about 108 kmph when the accident occurred. "It was almost moving at the speed of 108 kmph which is full speed," Joshi said.
Chief medical officer (CMO), Fatehpur, KN Joshi said 35 of the passengers had died. "About 200 injured are undergoing treatment here."
"Rescue workers have not been able to enter two of the bogies," Superintendent of Police, Fatehpur, Ram Bharose said, adding the dead included women and children.
While some of the bogies had toppled, others were turned into mangled heap of metal. The crowded general compartment behind the engine was the worst hit. Gas cutters and other equipment were used to cut through the metal in the AC and other coaches to rescue the trapped passengers.
"A number of passengers are still inside the bogies and attempts are on to take them out," officials said several hours after the accident.
Locals, railway and district authorities immediately launched the rescue operation. The army has also sent about 120 personnel from adjoining Allahabad and Kanpur to assist them. A team of National Disaster Relief Force was also deployed.
Two relief trains -- one each from Allahabad and Kanpur -- have reached the spot. Another relief train was also sent from Delhi, minister of state for railways Mukul Roy said, adding helplines have been opened at both the Howrah and Delhi stations.
Roy said families of the dead would be given an ex-gratia of Rs five lakh, while the seriously injured would get Rs one lakh and those with minor injuries would be given Rs 25,000.
Meanwhile, anxious relatives and friends of the passengers, many of them in tears, gathered at Howrah, Kanpur and other stations to enquire about the fate of their loved ones. However, they faced a difficult time as information was trickling in at a slow pace.
The Eastern Railway said it will run a special train from Howrah to take relatives of passengers to Malwa.
Prime Minister Manmohan Singh has expressed deep sorrow and shock at the loss of lives in the rail accident and directed the railway ministry to deploy all available resources in the area for rescue and relief operations.
Singh also spoke to the minister of state for railways about the incident.
Uttar Pradesh chief minister Mayawati announced a compensation of Rs one lakh each to the kin of those who died, Rs 50,000 to seriously injured and Rs 25,000 for those suffering minor injuries.
The derailment took place at 12.20 PM when the packed train from Howrah reached near Malwa station, nearly 120 kms from Lucknow.
"15 bogies of the train derailed out of which 10 are in bad shape. The exact cause of the derailment is being ascertained. The commissioner of railway safety has been directed to probe the incident," General manager, North Central Railway HC Joshi said.
He said the train was speeding at about 108 kmph when the accident occurred. "It was almost moving at the speed of 108 kmph which is full speed," Joshi said.
Chief medical officer (CMO), Fatehpur, KN Joshi said 35 of the passengers had died. "About 200 injured are undergoing treatment here."
"Rescue workers have not been able to enter two of the bogies," Superintendent of Police, Fatehpur, Ram Bharose said, adding the dead included women and children.
While some of the bogies had toppled, others were turned into mangled heap of metal. The crowded general compartment behind the engine was the worst hit. Gas cutters and other equipment were used to cut through the metal in the AC and other coaches to rescue the trapped passengers.
"A number of passengers are still inside the bogies and attempts are on to take them out," officials said several hours after the accident.
Locals, railway and district authorities immediately launched the rescue operation. The army has also sent about 120 personnel from adjoining Allahabad and Kanpur to assist them. A team of National Disaster Relief Force was also deployed.
Two relief trains -- one each from Allahabad and Kanpur -- have reached the spot. Another relief train was also sent from Delhi, minister of state for railways Mukul Roy said, adding helplines have been opened at both the Howrah and Delhi stations.
Roy said families of the dead would be given an ex-gratia of Rs five lakh, while the seriously injured would get Rs one lakh and those with minor injuries would be given Rs 25,000.
Meanwhile, anxious relatives and friends of the passengers, many of them in tears, gathered at Howrah, Kanpur and other stations to enquire about the fate of their loved ones. However, they faced a difficult time as information was trickling in at a slow pace.
The Eastern Railway said it will run a special train from Howrah to take relatives of passengers to Malwa.
Prime Minister Manmohan Singh has expressed deep sorrow and shock at the loss of lives in the rail accident and directed the railway ministry to deploy all available resources in the area for rescue and relief operations.
Singh also spoke to the minister of state for railways about the incident.
Uttar Pradesh chief minister Mayawati announced a compensation of Rs one lakh each to the kin of those who died, Rs 50,000 to seriously injured and Rs 25,000 for those suffering minor injuries.
Indian ADRs: Tata Comm, ICICI Bank down 3-4%
Indian ADRs ended down on Firday. In Telecom space, Tata Communication was down 3.67% at $ 9.46 and MTNL was down 1.47% at $ 2.01.
In IT space, Infosys ended down 1.52% at $ 67.21 and Wipro ended down 0.87% at $ 13.61 while Patni Computers was up 0.98% at $ 15.41.
In Banking space,ICICI Bank was down 2.66% at $ 48 and HDFC Bank was down 0.56% at $ 181.53. In other sectors, Sterlite Industries was down 1.84% at $ 14.93, Tata Motors was down 1.46% at $ 23.70 and Dr Reddys Labs was down 0.69% at $ 34.76.
In IT space, Infosys ended down 1.52% at $ 67.21 and Wipro ended down 0.87% at $ 13.61 while Patni Computers was up 0.98% at $ 15.41.
In Banking space,ICICI Bank was down 2.66% at $ 48 and HDFC Bank was down 0.56% at $ 181.53. In other sectors, Sterlite Industries was down 1.84% at $ 14.93, Tata Motors was down 1.46% at $ 23.70 and Dr Reddys Labs was down 0.69% at $ 34.76.
Thursday, July 7, 2011
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Friday, July 1, 2011
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