All stocks suspended on 1st day of launch of new stock exchange in China

BEIJING: All the stocks listed on ChiNext, the new Nasdaq-style market in China, were temporarily suspended on the first day the new exchange board was launched on Friday. Exchange authorities were forced to intervene as prices of all the listed shares showed wild fluctuations.

The launch of the much-awaited exchange board for small and medium industries had been postponed several times over the past two years as the government feared there would be wild movement in prices resulting in market instability. The fears proved true on the first day the exchange was launched at Shenzhen city, which borders Hong Kong.

The Shenzhen Stock Exchange evoked special suspension rules within the first two hours of trading as all the 28 listed stocks were involved in surprising volatile trading.

The rules call for 30 minute suspension if any stock fluctuates beyond 20 percent from its opening price. If a stock fluctuates again beyond 50 percent of its opening price, it will be again suspended for 30 minutes.

All stocks reported rises from their IPO prices after trading began at 9:30 a.m. Friday. They included five stocks that soared more than 200 percent from their IPO prices in the morning session. Prices at the benchmark Shanghai Composite Index rose 2.13 percent to close at 3,023.46 on Friday.

Zhou Xiaochuan, governor of the People's Bank of China, said at the opening ceremony that the central bank will actively support ChiNext.

POSTED BY :

PALLAVI SINGH

PGDM III SEM

SBI Q2 net up 10.2%, meets forecast

MUMBAI: The State Bank of India, the country's largest lender, reported a 10.2% rise in quarterly profit on trading gains and rising loan demand.


The bank, which along with its associates controls almost a quarter of Indian bank loans and deposits, said on Saturday its July-September net profit rose to 24.9 billion rupees ($530.2 million) from 22.6 billion rupees a year earlier.

That met a Reuters poll of brokers who forecast a profit of 24.6 billion rupees for the period.

Closest rival ICICI Bank said on Friday its quarterly net profit rose 2.6%, beating forecasts.

Shares in State Bank, valued at $31.5 billion, rose 26% in July-September, beating a 20% rise in the sector index and an 18% gain on the benchmark index.

POSTED BY:

PALLAVI SINGH

PGDM III SEM

Saina Nehwal Crashes Out Of French Super Series

Saina Nehwal of India crashed out of the French Super Series badminton tournament as she lost her quarter-final encounter to Chinese Wang Lin.The Indian challenge in the French Super Series also came to an end as the mixed doubles pair of Jwala Gutta and V Diju also lost their quarter-final match.

The eighth seed Saina wasted a first-game lead to go down to top seed Chinese Wang Lin.The Chinese took 49 minutes to outclass the Indian by 21-15, 11-21, 15-21 in women's singles on Friday.

The sixth seeded Indian pair of Jwala and Diju also went down to the Indonesian combo of Nova Widianto and Liliyana Natsir by 21-6, 20-22, 10-21 in game played for 42 minutes.

Wang Lin scored 14 points while the Indian could score only nine.
SUDEEP SINGH
PGDM-III SEM
SEC-B

Orkut Gets A New Look

Google has added new features to its social networking site Orkut to gain a momentum in today’s networking business.

According to Google, Orkut has been revamped by modifying its user interface. So the homepage has been made faster and easy to use.

Google India Head Vinay Goel said, "With the new user interface (UI), the user does not have to visit each page for viewing videos, or say posting scraps. He gets to see all updates and respond to his friends from the homepage itself,"

Among the other modifications, uploading photos will now be easy and there are other features like video chat, automatic face detection and scroll down option to view the friends in the same page.

"We have about 80-100 million users globally and India is the second leading market for Orkut after Brazil. India is a crucial market and we would continue to drive innovation for all our products," Goel said.

Google said that the new version would be available in coming weeks.
SUDEEP SINGH
PGDM-III SEM
SEC-B

Sensex dips below 16,000; RIL takes a hit
Paring initial gains, the benchmark Sensex on Friday closed below 16,000 level on selling pressure sparked by a drop in profit of Reliance
Industries, country's most valued company. The Sensex, which gained nearly 300 points in early trade, fell back to show a loss of 156.44 points at 15,896.28 as blue-chips Reliance and Infosys fell on profit-selling at existing higher levels. Among 30 sensex stocks, 19 declined and 11 ended with gains. Shares of Reliance Industries fell by nearly 3.62% to Rs 1,931.25, a day after the company reported a 6.4% drop in its net profit for the second quarter of the fiscal. Second heaviest on the benchmark, Infosys Technologies lost 0.10% to Rs 2,205.40. The two carry nearly 23% weight on the Sensex. Similarly, the wide-based National Stock Exchange index Nifty lost 38.85 points at 4,711.70, after touching the day's low of 4,687.50. The oil and gas sector index suffered the most by 2.79% to 9,434.43 followed by teck index by 1.93% to 2,855.37.

DIPANKER SUHALKA

PGDM III SEM

Reliance Ind net down 6.4%

Oct. 29 Reliance Industries has posted a profit of Rs 3,852 crore for the second quarter ended September 30, a fall of 6.4 per cent from Rs 4,116 crore in the corresponding period last year.
For the half-year period, profits were down 8.5 per cent to Rs 7,518 crore (Rs 8,220 crore).
Gross refining margin fell to $6.3 a barrel from $14.4. In addition, the depreciation doubled to Rs 2,400 crore during the quarter while the tax outgo rose to Rs 800 crore (Rs 344 crore).
Total revenue increased by 6.1 per cent to Rs 48,843 crore (Rs 46,014 crore). However, for the first half, it was down 8.7 per cent to Rs 81,284 crore (Rs 88,998 crore). During the period, exports were down 26 per cent to Rs 43,035 crore.
“The timely completion of the new SEZ refinery and the deepwater, oil and gas KG D6 block and their safe and stable ramp-up are noteworthy accomplishments. These projects have contributed meaningfully in RIL achieving a record level of profits despite the challenging business and economic environment,” Mr Mukesh Ambani, Chairman, said.
Operating profit before other income and depreciation was up 7.9 per cent to Rs 13,601 crore (Rs 12,608 crore). Other income was higher at Rs 1,337 crore (Rs 377 crore) due to higher interest income on account of higher cash and cash equivalents totalling Rs 19,421 crore.
Net capital expenditure for the quarter was Rs 7,831 crore. According to RIL, total gas production from the Krishna-Godavari D6 basin is now 40 million metric standard cubic metres (mmscm) a day.
Production has kicked off in 16 of the 18 wells at KG D6 and the total production during the quarter was 222,104 tonnes of crude oil and 4,813 mmscm of natural gas.
KG D6 has constantly been in the news with the latest relating to RIL’s letter to the Centre seeking new buyers for its gas fearing that the reserves could be damaged otherwise. Since then, a Government-appointed panel has allocated 50 mmscm of additional gas to power plants, refineries etc.
Experts say that the transport sector could also benefit from the KG D6 gas though this would call for creation of a national gas grid which could effectively supplement conventional fuels such as petrol and diesel.
RIL’s global exploration and production business comprises 14 blocks spread across Peru, Yemen, Oman, Northern Iraq, Colombia, East Timor and Australia.
At home, the Jamnagar refinery processed 27.63 million tonnes of crude oil, up from 16.34 million tonnes last year. The utilisation rate was nearly 90 per cent, which was higher than other refineries in North America (82.1 per cent), Europe (77.1 per cent) and Asia (79.3 per cent). Exports of refined products totalled $7.5 billion.
In the petrochemicals segment, domestic demand for most products remained strong with polymers demand higher by 25 per cent, polyester by 15 per cent, and fibre intermediates by seven per cent.
The company says there was a substantial improvement in the overall petrochemical margins as the industry was operating on a low level of inventory.
The RIL scrip closed at Rs 2003.85 on Thursday, down 1.56 per cent.

ANSHU KUMAR
PGDM 1st sem

Inflation rate surges to 1.51%

Oct. 29 The wholesale price inflation rose at its fastest pace in six months, with the annual Wholesale Price Index-based inflation rate surging 1.51 per cent during the week ended October 17, up from the previous week’s annual rise of 1.21 per cent.
Inflation was recorded at 10.82 per cent during the corresponding week of the previous year. The official WPI for ‘All Commodities’ for the latest week remained unchanged at previous level of 242.2 points.Fish cheaper
On a disaggregated basis, the Primary Articles group index declined by 0.1 per cent as the index for ‘Food Articles’ dipped by 0.1 per cent due to lower prices of fish-marine (6 per cent). However, the prices of tea, mutton, maize, arhar, condiments and spices and moong (1 per cent each) moved up.
The Fuel and Power group declined by 0.1 per cent due to lower prices of aviation turbine fuel (3 per cent), furnace oil (2 per cent) and light diesel oil (1 per cent). However, the prices of bitumen (2 per cent) moved up.
The Manufactured Products group index rose by 0.1 per cent as the index for ‘Food Products’ group rose by 0.4 per cent due to higher prices of imported edible oil and gur (4 per cent each), rice bran oil (3 per cent) and oil cakes (2 per cent). However, the prices of butter and groundnut oil (2 per cent each) and gingelly oil and ghee (1 per cent each) declined.
The index for ‘Textiles’ group declined by 0.1 per cent due to lower prices of cotton yarn-cones (1 per cent). However, the prices of hessian cloth (2 per cent) moved up.
The index for ‘Base Metals Alloys and Metal Products’ group declined by 0.1 per cent to 256.8 points from 257 points for the previous week due to lower prices of steel ingots and ms bars and rounds (3 per cent each), basic pig iron and foundry pig iron (2 per cent each) and other iron steel (1 per cent). However, the prices of zinc ingots (1 per cent) moved up.
ANSHU KUMAR
PGDM 1st sem

ONGC Q2 Net up 6% to Rs 5,089.64 cr

NEW DELHI: State-run Oil and Natural Gas Corporation on Thursday reported a six per cent increase in its net profit at Rs 5,089.64 crore during the second quarter ended September 30, 2009. The profits were lower by Rs 1,491 crore as it was asked by the government to pay Rs 2,630 crore fuel subsidy by way of discounts on crude oil it sells to state-run refiners. The subsidy pay-out, however, was lower than Rs 12,663 crore pay out in the same period last fiscal. The company's sales, however, fell to Rs 15,080.59 crore from Rs 17,407.40 crore on a dip in oil production and its prices, ONGC said in a filing to the Bombay Stock Exchange. For the half year ended September 30, 2009, ONGC net profit fell to Rs 9,937.56 crore from Rs 11,444.74 crore a year ago mostly because of lower per barrel realisation on crude sales. Crude oil price had peaked USD 147 a barrel in August 2008. The company paid Rs 3,059 crore towards fuel subsidies in H1 as compared to Rs 22,474 crore in the corresponding period last year. It estimated that its profit in H1 would have been higher by Rs 1,733 crore, if it had not made these subsidy payouts. The upstream companies like ONGC have to bear the entire revenue loss retailers IOC, HPCL and BPCL incur on selling domestic cooking gas (LPG) and kerosene at below cost. The company's sales dropped to Rs 29,959.86 crore from Rs 37,459.60 crore in the same period last fiscal.

POSTED BY: PALLAVI SINGH

PGDM III SEM

Sensex in correction mode

MUMBAI: The correction on Dalal Street seems to be gaining momentum. On Thursday, BSE sensex lost a further 231 points - its fourth consecutive
session of loss - to close at 16,053, the lowest close for the index in eight weeks. The day's losses came on the back of weaknesses in several major markets mainly because of doubts surrounding the recent global economic recovery. Thursday's slide was led by strong selling by foreign funds. Provisional data on the BSE showed that FIIs had a net outflow of nearly Rs 2,550 crore while domestic funds, with a net inflow of Rs 896 crore, partially cushioned the fall. Data showed that through a series of block deals, Goldman Sachs, Credit Suisse and Citi offloaded large chunks of shares on the NSE, aggregating a net outflow of about Rs 240 crore. Of these, Citi sold about 1 crore shares of Suzlon Energy, translating to about 0.7% of the company, for Rs 72 crore. Citi now holds nearly 4% in Suzlon. After Thursday's net selling by FIIs, the aggregate for the current month also turned, to a net outflow of nearly Rs 600 crore now. Over the last nine sessions, sensex has lost over 1,400 points, or 8.2%, since its Diwali day high at 17,493. And investors have lost Rs 4.3 lakh crore with BSE's market capitalisation now at Rs 53.9 lakh crore. In Thursday's session, real estate, banking and metal stocks were the worst hit. While BSE's Realty index ended 6.4% off, both metal and banking indices were down 2.6% at close. Over the last one week, the real estate index has lost 15.6%, metal 9.4% and the banking 8%. Compared to these, sensex has lost 4.4% during the same period.

POSTED BY: PALLAVI SINGH

PGDM III SEM

US economy grows in Q3, signals end of recession

WASHINGTON: The economy grew in the third quarter for the first time in a year as consumer spending and investment in new home-building rebounded,
data showed on Thursday, unofficially ending the worst recession in 70 years. The commerce department, in its first estimate of third-quarter gross domestic product, said the economy grew at a 3.5 percent annual rate, the fastest pace since the third quarter of 2007, after contracting 0.7 percent in the April-June period. The growth pace in GDP, which measures total goods and services output within US borders, was above market expectations for a 3.3 percent rate. The economy last grew in the second quarter of 2008. Recessions in the United States are dated by the National Bureau of Economic Research and the private-sector group often takes months to make determinations. The economy slipped into recession at the end of 2007 and has been in the worst downturn since the Great Depression of the 1930s. The third-quarter recovery was generally broad-based, with solid gains in consumer spending, exports and investment in home-construction. Consumer spending, which accounts for over two-thirds of US economic activity, surged at a 3.4 percent rate in the third quarter, the fastest advance since the first quarter of 2007. Spending fell at a 0.9 percent rate in the previous quarter. Residential investment, which was the main force behind the downturn, jumped at a 23.4 percent rate in the third quarter, contributing to GDP for the first time since 2005, after declining 23.3 percent in the April-June period. The surge in consumer spending and residential investment was likely driven by government stimulus programs. The economic recovery in the third quarter was also supported by a sharp moderation n the pace of inventory liquidation by business. Business inventories fell $130.8 billion, slowing from a record $160.2 billion plunge in the second quarter. The change in inventories added 0.94 percentage points to real GDP in the third quarter. Analysts are hoping that the slowdown in the inventory decline by businesses will continue to support the economy in the fourth quarter, even as consumer spending is expected to retreat under the weight of the worst labor market in 26 years. Excluding inventories, GDP rose at a 2.5 percent rate compared to a 0.7 percent increase in the second quarter. The weak dollar boosted exports, but a rise in imports subtracted from real GDP during the quarter. Federal government spending contributed to growth, but both state and local governments were a drag. Business investment fell at 2.5 percent pace, with investment nonresidential structures dropping 9 percent, a reflection of ongoing problems in the commercial property market.

POSTED BY: PALLAVI SINGH

PGDM III SEM

Inflation rises 1.5% on costlier food items

NEW DELHI: Inflation grew by 1.51 per cent as of October 17 on the back of higher food prices, vindicating Reserve Bank of India’s hawkish stance of slowly withdrawing its easy money policy. The wholesale prices-based inflation stood at 1.21 per cent in the previous week. During the week, tea, mutton and arhar and manufactured food items including edible oil and gur turned expensive. Projecting inflation to touch 6.5 per cent-mark by the end of the current fiscal, the RBI in its quarterly monetary policy review on October 27 had taken steps to suck out liquidity from banks. The apex bank had raised Statutory Liquidity Ratio (SLR), the amount of deposits that banks are to keep in government securities, cash and gold, by one percentage point to 25 per cent.
POSTED BY: PALLAVI SINGH
PGDM III SEM

Test fires nuclear-capable Prithvi-II missile

India successfully test fired the nuclear-capable surface-to-surface Prithvi-II missile twice from a test range in Orissa, officials said. The missiles were fired from the Integrated Test Range (ITR) at Chandipur in Balasore district, some 230 km from state capital Bhubaneswar first at 10.28 a.m. and then again five minutes later at 10.33 a.m.
The tests were described as part of a "user trial”. Two naval ships tracked and monitored both the missiles hitting the targets accurately. All the radars and other sensors along the east coast monitored the missiles' trajectory parameters. The missiles have a striking range of about 350 km.Prithvi is India's first indigenously built ballistic missile. It is one of five missiles being developed under India's Integrated Guided Missile Development Programme (IGMDP).Two versions of the missiles have already been deployed with the Army and the Air Force. According to defense officials in the national capital, Prithvi missile has the capability to carry 500-kg of warhead.

US economy grows in Q3, signals end of recession

The economy grew in the third quarter for the first time in a year as consumer spending and investment in new home-building rebounded,

data showed on Thursday, unofficially ending the worst recession in 70 years. The commerce department, in its first estimate of third-quarter gross domestic product, said the economy grew at a 3.5 percent annual rate, the fastest pace since the third quarter of 2007, after contracting 0.7 percent in the April-June period. The growth pace in GDP, which measures total goods and services output within US borders, was above market expectations for a 3.3 percent rate. The economy last grew in the second quarter of 2008. Recessions in the United States are dated by the National Bureau of Economic Research and the private-sector group often takes months to make determinations. The economy slipped into recession at the end of 2007 and has been in the worst downturn since the Great Depression of the 1930s. The third-quarter recovery was generally broad-based, with solid gains in consumer spending, exports and investment in home-construction. Consumer spending, which accounts for over two-thirds of US economic activity, surged at a 3.4 percent rate in the third quarter, the fastest advance since the first quarter of 2007. Spending fell at a 0.9 percent rate in the previous quarter. Residential investment, which was the main force behind the downturn, jumped at a 23.4 percent rate in the third quarter, contributing to GDP for the first time since 2005, after declining 23.3 percent in the April-June period. The surge in consumer spending and residential investment was likely driven by government stimulus programs. The economic recovery in the third quarter was also supported by a sharp moderation n the pace of inventory liquidation by business. Business inventories fell $130.8 billion, slowing from a record $160.2 billion plunge in the second quarter. The change in inventories added 0.94 percentage points to real GDP in the third quarter. Analysts are hoping that the slowdown in the inventory decline by businesses will continue to support the economy in the fourth quarter, even as consumer spending is expected to retreat under the weight of the worst labor market in 26 years. Excluding inventories, GDP rose at a 2.5 percent rate compared to a 0.7 percent increase in the second quarter. The weak dollar boosted exports, but a rise in imports subtracted from real GDP during the quarter. Federal government spending contributed to growth, but both state and local governments were a drag. Business investment fell at 2.5 percent pace, with investment nonresidential structures dropping 9 percent, a reflection of ongoing problems in the commercial property market

Press release

A news release, media release, press release or press statement is a written or recorded communication directed at members of the news media for the purpose of announcing something claimed as having news value. Typically, they are mailed, faxed, or e-mailed to assignment editors at newspapers, magazines, radio stations, television stations, and/or television networks. Commercial press-release distribution services are also used to distribute news releases.
The use of a news release is common in the field of public relations, the aim of which is to attract favorable media attention to public relations professional's client and/or provide publicity for products or events marketed by those clients. A news release provides reporters with the basics they need to develop a news story. News releases can announce a range of news items such as: scheduled events, personal promotions, awards, news products and services, sales and other financial data, accomplishments, etc. They are often used in generating a feature story or are sent for the purpose of announcing news conferences, upcoming events or change in corporation.
A media release is like a short newspaper article that one may send to different media outlets in order to gain interest in a writer’s mind so that a story will be published about the organization in which one works for or the product which they are trying to promote. The persons reading the media release will be looking for stories that will interest their readers, viewers and listeners. An effective media release tells a story that will interest a number of people. Media releases need to be about the story and just enough relevant information for the story to work. The release isn’t the place to list all the benefits of the business. A media release is published in the news media, whereas a press release is designed to be sent to journalists in order to encourage them to develop articles on a subject. A press release is generally biased towards the objectives of the author. A press release is written in order to highlight an important event, program, or piece of information by an organization that succinctly describes the who, what, where, when, why and how of the story.
A press statement is information supplied to reporters. This is an official statement or account of a news story that is specially prepared and issued to newspapers and other news media for them to make known to the public

FBI 'kills' V S Naipaul in court footnote

WASHINGTON: Indian ethnic origin V S Naipaul, considered to be one of the finest living novelists writing in English, has been "killed off" by the

American secret service FBI. Sir Vidiadhar Surajprasad Naipaul, the very-much-alive 77-year-old British writer who received the Nobel Literature Prize in 2001, was "killed off" by the FBI in a footnote, no less. The slip-up was noticed after documents presented to a Chicago court were unsealed on Tuesday wherein the acclaimed writer is referred to as "the late V S Naipaul, a Nobel prize winning author" in the footnote of sworn testimony by Special Agent Lorenzo Benedict, according to The Smoking Gun, an entertainment and crime news website. The mistake was part of documents Chicago court linked to the trial of two men accused of plotting to attack staff of the Danish newspaper that published controversial cartoons of the Prophet Mohammed, the report said. The Indo-Trinidadian descent writer is mentioned in connection with his wife Lady Naipaul, a journalist and the sister of a Pakistani general who was allegedly killed by Islamic militants last year. Trinidad-born Naipaul's works include A House for Mr Biswas, A Bend in the River and The Enigma of Arrival and is widely considered to be one of the masters of modern English prose.

Rupee down 25 paise at 47.59 a dollar in early trade

MUMBAI: Extending its losses for the fourth day, the Indian rupee today depreciated by 25 paise in early trade to 47.59 against the US currency, largely on the back of dollar's gains against other major units and on heavy month- end demand from oil companies.

At the Interbank Foreign Exchange (Forex) market, the domestic unit traded 25 paise down at 47.59 a dollar in early trade. Yesterday, the rupee ended 43 paise lower at 47.34/35 against the US currency.

Dealers said rising dollar against other global units and month-end demand from oil importers, mainly weighed on the Indian rupee sentiments.

Expectations of more capital outflows by foreign funds as equities may continue to lose ground in line with other Asian markets, which were down by up to 2.5%, also put pressure on the rupee.

Meanwhile, the benchmark Sensex had lost 527.32 points in the past three trading sessions.

POSTED BY: PALLAVI SINGH

PGDM III SEM

Students get a chance to visit RBI

KANPUR: Under its financial literacy and inclusion programme, the Reserve Bank of India (RBI) on Wednesday invited students of Class IX and X from one of the private schools of the city.

After welcoming the teachers, general manager (officer incharge) RN Khan congratulated the students for getting the unique and rare chance to visit RBI for educational purpose. He elucidated RBI's pivotal role in currency management, as banker to Central government, state governments and all the banks operating in the country. He also dealt in detail with the country's monetary policy, cash reserve ratio and developmental role in framing and regulating the policy.

Assistant manager Ashok Kumar updated the students on Young Scholar Award Scheme and Summer Placement Scheme. Short and educative documentary films 'Raju and the money tree' and 'Clean note policy' on non-banking supervision were shown to the students.

Students also visited the Exchange Hall and saw the exchange counters and coin vending machines.

POSTED BY: PALLAVI SINGH

PGDM III SEM

IIM-B ready to go abroad

BANGALORE: With the HRD ministry giving the green signal to the premier IIMs to set up campuses abroad, IIM-B's board of governors, which met on Wednesday (without its chairman Mukesh Ambani), decided to set up an internal committee headed by dean of academics Trilochan Sastry. It will evolve a global strategy on the issue.

"We have already sent the proposal to the Centre. As of now, no decision has been taken to set up campus abroad," Sastry said.

Also, Chandra said a new Chair has been constituted to encourage young faculty members on campus. "This year, a Young Faculty Research Chair was set up unique to IIM-B," he said.

IIM-B has set aside Rs 4 crore for providing aid to its students, including financial assistance for scholarships and fellowships.

POSTED BY: PALLAVI SINGH

PGDM III SEM

Gandhi memorabilia: khadi cloth, communal tensions and humour

A selection of letters written and received by Mahatma Gandhi, and a piece of khadi spun by him and signed by, besides the Mahatma himself, Sarojini Naidu and Gandhiji’s private secretary Pyare Lal, were among the memorabilia presented on Wednesday to President Pratibha Patil by Curry King Sir Ghulam Noon and NRI entrepreneur Nathu Ram Puri.
The letters were sold by the London auction house Sotheby’s on July 14, 2009 for a total of £ 17,500, and Ms. Patil received them at a simple function in the Indian High Commission here. In a voice choked with emotion, Mr. Puri said he felt privileged to have been able to secure the letters.
The items were sold in three lots. Included in the first were three autographed letters to Maulana Abdul Bari (1878-1926), an Islamic scholar, leading figure in the Khilafat movement and close friend of the Mahatma. The purple-bordered khadi cloth, signed by the Mahatma in Gujarati, came in the second lot. The khadi piece was a gift from Gandhiji to South-African born actor Moira Lister, and was sold at an estimated price of £ 2,000-2,500. The third lot contained two autographed postcards addressed to Urdu poet Hamidullah Afsar.
The letters to Maulana Bari reflect the tensions of the time, and contain many references to Hindu-Muslim relations. In one of the letters, the Mahatma expresses gratitude for the gift of cotton for spinning. In a second letter, he thanks Maulana Bari for his mohabbat bhari khat (letter of overflowing love) and hopes the two can continue to have open and frank conversations in the future. The Mahatma speaks of hosting Khilafat leaders, Ali brothers (Maulana Mohammad Ali Jauhar and Maulana Shaukat Ali Jauhar), and says the three of them spent a lot of time discussing Hindu-Muslim relations.
Most of the letters are in Urdu, and in one of them, the Mahatma, in characteristic wry humour, chides Hamidullah Afsar for writing an unstamped letter. “Hamidullah Saheb, I got your letter, but I do not reply to unstamped letters,” the Mahatma says, obviously irked that he had to bear the cost of the unstamped letter. This is the third time Sir Ghulam and Mr. Puri have bought Gandhi letters at an auction. Fifteen years ago, Sir Ghulam, in partnership with Lord Raj Kumar Bagri, bought another set of letters for £ 14,000. In 1998, Sir Ghulam and Mr. Puri bought some more Gandhi letters at a Sotheby’s auction for £ 21,000. These letters are in the National Archives, where the third set is also expected to be lodged.
In her speech, Ms. Patil described Gandhiji as more than an individual; his spirit cut across the world and crossed the seas and the mountains. She said his leadership and vision had inspired world leaders from Martin Luther King to Nelson Mandela, and his message of Ahimsa moved the United Nations to declare October 2 a day of non-violence.
Later speaking to the press, Sir Ghulam said it did not matter that the Indian government had not exerted itself to acquire the Gandhi letters. “It does not matter who bought them. I am thankful for having got the opportunity to do my bit to keep his memory alive.”
ANSHU KUMAR
PGDM 1st sem

Step up credit to job-creating sectors, Pranab tells banks

Finance Minister Pranab Mukherjee on Wednesday asked public sector banks (PSBs) to hike their lending to employment-generating sectors such as agriculture and small and medium enterprises (SMEs) in the second half of this fiscal to take advantage of the higher demand for funds during the busy season and meet the targets of priority sector lending.
At a meeting with chief executives of north-based PSBs, Mr. Mukherjee also asked the banks to address the needs of borrowers of housing loans up to Rs 10 lakh and hoped that lending to minorities would rise to the targeted 15 per cent of their lending by the end of the current fiscal. Interest subvention
“Taking advantage of the upcoming busy season, banks should gear up to enhance credit flow to the employment generating sectors, especially agriculture and the micro and small enterprises,” he said. The government, he said, had provided an extra one percentage point subvention on interest to those farmers who repay in time and advised banks to reap the benefits of the scheme and improve repayments.Inclusive growth
Highlighting the PSBs’ role in achieving the target of inclusive growth, Mr. Mukherjee urged them to rapidly scale up efforts to reach banking to the inaccessible regions of the country through alternative methods and technological means. He hoped that the north-based PSBs would continue to make concerted efforts to open more ‘no-frill accounts’, provide ‘Kisan’ credit cards to all farmers, link all existing self-help groups (SHGs) to bank credit and make the NREGA (National Rural Employment Guarantee Act) accounts in rural branches operational for credit offtake also. The debt swap scheme of these banks would help end the villagers’ reliance on informal and exploitative sources of credit, he said. Farm sector
As for the farm sector, he said the government was also providing an interest subsidy of one per cent on all individual housing loans up to Rs 10 lakh for dwelling units costing up to Rs 20 lakh and advised banks to pay the attention that is due to such borrowers. Such loans, he said, should be targeted to the rural areas so as to meet the housing needs of that segment of the population.
The Finance Minister pointed out that the growth rate of advances to micro and small enterprises has been close to 13 per cent during the last six months and efforts should be made to increase lending in view of the target of 20 per cent year-on-year growth. He also advised the banks to give special attention to rural areas and girl students while extending education loans.
ANSHU KUMAR
PGDM1st sem

IMPACT OF GLOBALIZATION

Impact of Globalization, both theoretically and practically, can be observed in different economic, social, cultural, political, finance, and technological dimensions of the world. Globalization brought about a new world order and is gradually reaching new heights, integrating all the fields to form a cohesive network. The Impact of Globalization has crossed the economy to influence all phases of human life challenging their national and individual particularities. Globalization impact has touched all political, cultural, economic, and ideological dimensions. With the onset of the western democratic system the Impact of Globalization on politics is visible. In economic globalization the impact ranges from production, consumption, commercial exchange, and distribution. In the cultural domain, globalization had its impact on the imagination, idealism, theories, thought process, and practices of humankind.
However, the Impact of Globalization had the best possible results on the Information and Communication system. This globalization of information is observed with the globalized telecommunications and information technologies operating in today's world. For instance, the satellite TV channels, cellular phones, broadband, Internet, and so forth. All these have successfully transformed the world into a global village. The globalization of information is also proved from the usage of the most popular language, English, in the Internet. Moreover, there is the diminished use of paper with the spread of the new globalized information technology. Today, at present only few international news agencies dominate the total information system, such as, the Associated Press and the United Press of USA, Reuters of Great Britain, and Agence France Presse of France. Another Impact of Globalization is in the field of Science, with the introduction of new fresh attempts in scientific research and capabilities of invention. In this, the nations like the United States of America, the European Union, and Japan have reached heights. This globalization of science leads to the fusion of scientific data and rules to form a uniform network of database. The Impact of the Globalization of economy, politics, information, and technology, results in the globalization of culture. The present day TV channels, movies and advertisements are open to all parts of the world imparting modern education. This again transforms the values, ethics, religion, and thought processes of the mankind as a whole. The best outcome of the globalized culture is the evaluation and improvement in the status of women. Another significant change is the demand for equal rights by the emerging "third gender" in today's world. According to them against global human right system, there should be division of humankind into three genders along with the males and females. The Impact of Globalization on culture is also observed in the discussions held at the World Intellectual Property Organization, in which the Americans requested the original bearer of all types of intellectual items, like books, songs, scripts, to give up their copyrights for large private groups. However, this was countered by the European Union countries and on the other hand accepted by Great Britain. Again, France, one of the European countries, got engaged in a movement for the grant of cultural exclusiveness in the fields of audio-visual and cinematic production.

POSTED BY:

ASHWANI SUHALKA PGDM 2nd yr

RBI leaves key rates unchanged

The Reserve Bank of India (RBI) on Tuesday preferred to keep long-term as well as short-term indicative rates at the current level despite rising inflation and inflationary pressure.
However, aiming at reducing liquidity and fighting the inflationary expectations, the RBI raised the Statutory Liquidity Ratio (SLR) — the portion of deposits that banks are required to keep in government securities — by 100 basis points to 25 per cent with effect from November 7.
“We are concerned about inflation and managing inflation expectations,” said RBI Governor D. Subbarao while addressing a press conference here, reviewing the second quarter of Monetary Policy 2009-10.
The projection for inflation at end-March 2010 is placed at 6.5 per cent with an upward bias. This is higher than that of 5 per cent inflation projected in July. However, the growth projection for Gross Domestic Product (GDP) has been retained at 6 per cent with an upward bias, unaltered from that made in the July review
“The RBI is mindful of its fundamental commitment to price stability,” said Dr. Subbarao, adding that, “the precise challenge for the RBI is to support the recovery (economy) process without compromising price stability.”
It retained the long-term indicative rate, the Bank Rate, at 6 per cent. The short-term indicative rates — the repo rate and the reverse repo rate — also kept unchanged at 4.75 per cent and 3.25 per cent, respectively, and the Cash Reserve Ratio (CRR) of banks unchanged at 5 per cent. The repo rate is the rate at which the RBI provides liquidity to banks and the reverse repo rate is the rate at which the RBI absorbs liquidity from banks.
Indicating that the policy tightening is imminent, the RBI Governor said, “there is a case for tightening (monetary policy) sooner rather than later.” The RBI’s inflation expectations survey shows that households expect inflation to increase over the next three months as also one year, especially in the case of food items. But premature tightening “will hurt the growth impulses.” Apart from raising the SLR to the pre-crisis (financial) level of 25 per cent, the limit for the export credit refinance facility, which was raised to 50 per cent of eligible outstanding export credit, is being returned to the pre-crisis level of 15 per cent.
Further the two unconventional refinance facilities — special refinance facility for banks and special term repo facility for scheduled commercial banks for funding to mutual funds, non-banking financial companies (NBFCs), and housing finance companies — are being discontinued with immediate effect.
Among regulatory measures, the RBI increased the provisioning requirement for advances to the commercial real estate sector classified as ‘standard assets’ from 0.4 per cent to one per cent.

ANSHU KUMAR

PGDM 1st year

Russia, India, China for concerted action

The Foreign Ministers of Russia, India and China (RIC) on Tuesday pushed their dialogue towards a strategic dimension by coordinating their approaches to several pressing international issues including terrorism and climate change.
Sergei Lavrov (Russia) and Yang Jiechi (China) came out strongly in support of India in its fight against terrorism and called for the implementation and “strict observance” of all United Nations resolutions on the issue.
A joint communiqué issued at the end of their ninth meeting in the RIC format here also took common positions on the reform of multilateral financial institutions and North Korea.
The three countries thus continued the trend, set at the previous interaction in Vladivostok, of coordinating their positions on Kosovo and the Asia-Pacific region.
Iran and Afghanistan have remained constant themes at these stand-alone meetings of Foreign Ministers.
Mr. Lavrov and Mr. Yang agreed with their Indian counterpart S.M. Krishna that “natural complementarity” in the energy sector could form a new basis for trilateral cooperation.
Significantly, Russia and China said they “understand and support” India’s aspirations to play a greater role in the U.N. and condemned the attack on the Indian embassy in Kabul.
Without mentioning Mumbai, they highlighted the need to bring to book the perpetrators of all terrorist attacks. In turn, India and China backed Russia’s efforts to stabilise the Caucasus.
Moscow and Beijing were also appreciative of New Delhi’s renewed interest in the Shanghai Cooperation Organisation (SCO) as reflected in Prime Minister Manmohan Singh leading the Indian delegation to its recent summit.
On multilateral institutions, the three pressed for speedy implementation of the resolve expressed at the Pittsburgh G-20 meeting to reform them while avoiding erosion in the voting shares of developing countries.
They wanted future G-20 summits staged in developing countries and reiterated their willingness to contribute to the Copenhagen conference on climate change.
While hoping that the second round of presidential elections in Afghanistan would be conducted peacefully, they expressed concern at the deteriorating security situation due to continued terrorist attacks.
They reiterated their call to the international community to utilise the diplomatic route to resolve nuclear related issues with Iran and North Korea.
A trilateral business conference has also held two meetings and the third one is scheduled in Russia.
It was also agreed that the next meeting would be held in China

ANSHU KUMAR
PGDM 1 st sem

IIM-L students guide the lesser privileged

LUCKNOW: `Bhavishya', a social initiative committee of students from Indian Institute of Management, Lucknow (IIM-L) gave career guidance to underprivileged students of a school in the state capital.

The objective of the initiative -- christened as `Disha' -- was to identify students, who are bright in studies but have little opportunity and exposure to the outside world. The students also counselled them about various career paths available for them and preparing for the same.

The committee partnered with Jaipuria Institute of Management (JIM), Lucknow, to provide career guidance and personality development to students of Prakash Bal Vidya Mandir (PBVM).

The workshop, held last week, was designed for PBVM students of Class XI & XII to help them out with their careers. The first step towards this was the computer awareness programme, especially browsing the internet, as this will help them to chose a career of their choice and get intricate details of the same. The students were also taught about the basics of writing CV.

The second step was that of discussing about the various details of career paths in engineering, medicine, accountancy and other opportunities. This also included the deadline dates of each forms, making them aware of the various options providing them deeper insights on getting through the competition.

Finally, the programme ended with insights about the budding future representatives of emerging India. The programme also included creative activities like newspaper dressing and quiz.
POSTED BY: PALLAVI SINGH

PGDM III SEM

Noida-Delhi bus fares likely to be increased soon

NOIDA: A day after the Delhi government increased the fares of Delhi Transport Corporation (DTC) and Blueline buses, the Noida unit of the Uttar Pradesh State Road Transport Corporation (UPSRTC) has decided to hike the fares of the UP buses plying from Noida and Greater Noida to Delhi to "rationalise'' them. A letter in this regard is been sent to the UPSRTC headquarters in Lucknow and a response is expected by the end of this week.

According to P R Belbariar, regional manager of Gautambudh Nagar, the revised rates will be applicable to all yellow-line buses travelling to New Delhi railway station, Kashmere Gate ISBT and Dhaula Kuan. "The DTC buses ply up to sectors 12-22, 34, 37 and 62 in Noida and Surajpur in Greater Noida. It will be strange if there are two different fare structures on the main route,'' said the official.

If the fare revision proposal is accepted, the charges will Rs 5 for the first 3 km, Rs 10 for those travelling between 3 km and 10 km and Rs 15 for those travelling more than 10 kilometres. The previous rate was Rs 3 for travelling between 0-4 km, Rs 5 for travelling between 4-8 km, Rs 7 between 8-12 km and Rs 10 for travelling above 12 kilometres.

Some officers in the transport department, meanwhile, said the hike will create problems until rates within UP are revised too."for example, a passenger travelling from Gol Chakkar to sector 37 now pays a flat rate of Rs 5. However, if the changes are brought about, someone travelling in a Noida Intercity bus will continue paying the same amount while one travelling in a Delhi-bound bus will have to shell out Rs 10.''

POSTED BY: PALLAVI SINGH

PGDM III SEM

Turn vegetarian and conquer climate change: expert

LONDON: Going the vegetarian way can help to tackle the problem of global warming apart from its known health benefits to human, according to a climate expert.

"Meat is a wasteful use of water and creates a lot of greenhouse gases. It puts enormous pressure on the world's resources. A vegetarian diet is better," Lord Stern of Brentford said.

"Direct emissions of methane from cows and pigs is a significant source of greenhouse gases. Methane is 23 times more powerful than carbon dioxide as a global warming gas," he said.

Lord Stern, author of the 2006 Stern Review on the cost of tackling global warming, said that a successful deal at the upcoming Climate Change Conference in Copenhagen would lead to soaring costs for meat and other foods that generate large quantities of greenhouse gases.

"I think it's important that people think about what they are doing and that includes what they are eating," he said.

A former chief economist at the World Bank, Stern warned that British taxpayers would need to contribute about £ 3 billion a year by 2015 to help poor countries to cope with the impact of climate change.

Speaking on the eve of an all-parliamentary debate on climate change, Lord Stern admitted that he himself is not a strict vegetarian.

POSTED BY : PALLAVI SINGH

PGDM III SEM

Banks, metals pull market lower

The benchmark indices slipped back again in the afternoon trades amid losses in global markets. The Sensex was trading at 16,212, down 140 points. Another benchmark index Nifty shed 40 points to 4,806.
Selling pressure was seen in banking, metal and realty stocks. Among the Sensex stocks, Maruti Suzuki and ICICI Bank dropped over 3.5 per cent each. HDFC Bank fell 3.2 per cent and RCom dropped 2.8 per cent.Asian stocks were lower for a second day on Wednesday amid worries US consumers were continuing to struggle, undermining hopes for a quicker turnaround in an economy that's a major export market for the region.
Major markets fell by about 1.5 per cent or more across Asia, while oil prices and the dollar weakened modestly.
The losses followed another lackluster session on Wall Street, where an unexpected drop in a key measure of confidence among American consumers gave investors
few reasons to wade deeper into a market that's run massively higher since March.

CBSE makes it tough to fail in class ix & x

Students in a CBSE school need no longer worry about failing in classes IX or X. Besides altering several evaluation methods, the CBSE board

will now allow students who do not clear classes IX and X three more attempts to make the grade. And if they fail to do so, the board is considering taking into account their performance in extracurricular activities and sports. So if you're an ace footballer with a poor math score, there's a chance you'll still pass the year. Assessment, too will be revamped. A child who fares poorly in written exams can be tested orally, or via projects, to see if he has understood the concepts. Moreover, the CBSE board, which is in the process of making board exams optional and replacing them with a system of continuous and comprehensive evaluation in classes IX and X, now wants schools to show students their answer sheets over the two years and take into account students' feedback before the final grade is given. The Class IX and X term papers will now be set by the board, so the level of question papers in CBSE schools across the country remains the same.Those who are gifted at say, biology, or math, can opt for a proficiency test in the subject, which will have questions at the level of a science Olympiad. The Measures * CBSE board will set first and second term papers for classes IX and X, in a bid to standardise exam papers across India * Students will be given corrected answer papers. They can provide suggestions (like answers not corrected) and final grade will be given only after incorporating feedback Students will also be graded on extracurricular activities, sports, physical fitness, attitudes and life skills There will be a single report card for Classes IX and X, in which students will have to list goals, strengths, hobbies and interests, sports played and exceptional achievements * Students who are exceptionally good at a particular subject can opt for a proficiency test in that subject

How to Prepare for Your First Job Interview:

Instructions
Things You'll Need:
• Personal documentation for filling out employment forms (Social Security card, driver’s license)
1. Step 1
Dress conservatively. Wear clothing that is clean and not revealing. Keep in mind that employers usually do not favor tattoos, facial piercing and unusual hair color.
2. Step 2
Introduce yourself and let the employer know that you are excited about the possibility of employment. Explain to the employer that you are willing to tackle any challenge.
3. Step 3
Offer your hand and shake hands firmly. It’s a good idea to practice with a parent or another adult.
4. Step 4
Speak to the prospective employer with confidence. Speak clearly and do not mumble. Smile and stay focused on the conversation.
5. Step 5
Sit or stand up straight, hold your head high, look the employer in the eyes and maintain eye contact throughout the interview.
6. Step 6
Fill out the paperwork accurately and neatly and take your time to avoid making mistakes. Bring along all necessary information such as your Social Security card, driver’s license and work permits.
7. Step 7
After the interview, write a thank-you note to everyone you spoke with during the interview. State that you enjoyed speaking with them and restate your confidence in your ability to do the job.
8. Step 8
Follow up with a phone call if you have not heard back from the prospective employer within a week.
9. Step 9
Accept the offer! Show up to work looking professional and follow through on the qualifications you gave in the interview process.

posted by:
ASHWANI SUHALKA PGDM 2nd yr

The Top 10 Marketing Tips of All Time

Today, the art of marketing is far more complex than it once was. However, many of the same basic principles still apply. Too often, professional marketers and small business owners overlook the basic techniques that have separated successful campaigns from those that never turn a profit. Here is the all time list of effective marketing tips.
1.Know your audience: Successful campaigns get that way because marketers know their audience. They fully understand their needs, how to help meet those needs and how to create demand. Knowing and understanding your audience through proper market segmentation means a well targeted campaign that generates a profitable return.
2.Focus on the offer: A marketing offer is the driving force of marketing promotions that drive results. In fact, market testing has proven that the offer is the most significant criterion for conversion. Focus on your offer if you want to be successful.
3.Split test: Never ever run a campaign without testing something. One of the most common is a split test which allows you to simultaneously test two versions of something. It can be a web page, post card, or email. Split testing is essential for improving performance.
4.Never work alone: The most creative ideas come from working with other creative people. Don’t feel like you need to have all the answers or great ideas. You may start with an idea, but an open dialog with creative individuals will make it better.
5.Don’t sell on price: I’ve seen so many marketers fail because they sell on price alone. This leads to a discounting war, lower profitability, and often bankruptcy. Rather, focus on creating so much value that the perception of price becomes insignificant.
6.Consistent messaging: Consider the entire user experience before you launch a campaign. From email to website to offer, is the prospect having a consistent user experience? If they are, your campaigns stand above 98% of others.
7.Create value after the sale: As marketers, it’s our job to understand our market segment and build relationships, not dump people off at the front door of our store and walk away. Focus as much of your energy on building relationships with customers as you do prospects.
8:Test: In addition to split testing, you should consider multiple forms of testing in each marketing discipline. For direct mail, test headlines, offers, copy, time of direct mail drop, etc. Consider testing a life long mission.
9:Integrated Marketing Works Best: You can’t rely on one form of marketing to carry you to success. It’s okay to generate most of your leads or sales through PPC marketing if you will but what happens when that dries out? Use multiple media sources to meet your goals.
10.Nothing can replace experience: You can run out and hire all of the best consultants in the world, but you still have to do the work. Nothing can replace actual experience. It will make you a stronger marketer and more successful in the long term.
Apply these helpful marketing tips if you want to be truly successful. These techniques and tips are applied by successful marketers on a daily basis. The result is an ever growing success rate of marketing success.
POSTED BY: ASIM SINGHAL
PGDM IIIrd SEM.

The Big Five Personality Traits
Your Personal Dimensions Affect All Aspects of Life
You don't need a Myers Briggs Personality Test to know if your personality type is working for or against you! Here are the Big Five Personality Traits & how they work.

Your Big Five Personality Traits affect your health, relationships, goals, achievements, professional success, and even your spiritual life. Your whole life is affected both positively and negatively by your Big Five Personality Traits!
In fact, some people believe there is such thing as a "cancer personality." If someone has a cancer personality, it's believed that their characteristics actually create toxins that work against their immune system, leaving them defenseless against certain diseases. Or, they repress negative emotions that create toxins, which can lead to terminal illnesses.
Your Big Five Personality Traits don't include the "cancer personality" (if such a thing exists). The fundamental five personality characteristics - called the "Big Five Personality Traits" among psychologists - were once thought to remain the same since childhood. Now, experts believe the Big Five Personality Traits change over time.
The Big Five Personality Traits
1. Conscientiousness. You're organized and disciplined, dedicated and loyal – especially at work. Excellent performances and strong commitments are standard. Of all the Big Five Personality Traits, this one will take you far in your career.
2. Agreeableness. You're friendly, pleasant and easy to be around; your relationships are mostly strong. You're a social creature, and get your energy from being around other people. This Big Five Personality Trait opens many doors!
3. Neuroticism. You feel anxiety, and you worry often. Your anxiety can make you emotionally unstable, and you're more likely to struggle with depression and sadness. This Big Five Personality Trait can lead to physical ill health.
4. Openness. You love adventures and trying new things; you're insightful and imaginative. Creativity adds spice to your life, and you're not afraid to take risks. People with this Big Five Personality Trait are often risk takers.
5. Extroversion. You're assertive, talkative, and don't mind being the centre of attention (in fact, you prefer it!). Being alone isn't your favorite activity; in fact, the more the merrier. This Big Five Personality Trait is found in extroverts all over the world!
Are your Big Five Personality Traits working for or against you? If your personality traits hold you back, damage your relationships, interfere with your work, or cause pain, then you may be ripe for a to make some personality changes!

POSTED BY:

ASHWANI SUHALKA PGDM 2nd yr

Binani Cement may acquire Turkish co for Rs 1,000 crore

Binani Cement is in talks to acquire a cement firm in Turkey for around Rs 1,000 crore as part of its strategy to more than double its production capacity by two years.

A person privy to the development said the target company has an annual production capacity of 2 million tonne and the deal is likely to be sealed by March next year. He, however, declined to disclose the identity of the overseas firm.

The person said, requesting anonymity as he is not supposed to talk on the deal now, the Binani board last week approved the foreign acquisition which would be financed equally by internal accruals and debt. Rajasthan-based Binani has been working on a plan to scale up its annual capacity from 6 million tonne to 14 million tonne by 2011-12.

When contacted, Binani Cement managing director Vinod Juneja said the company had appointed investment bankers for the Turkish acquisition. However, he declined to share further details. “We will inform the stock exchanges at an appropriate time.”

A cement analyst said Binani intends to expand its base in overseas markets before the domestic market is flooded with over capacity. According to Cement Manufacturers Association (CMA) estimates, the country’s cement manufacturers will add 50 million tonne to current production capacity of 220 million by December.

This will create pressure on price of the commodity. The capacity will go up 330 million tonne in three years. Binani also plans to spend about Rs 800 crore in next two years for setting up a 2.5-million-tonne per annum clinker plant in Gujarat.

Currently, Binani’s key markets are Rajasthan where it has 15% market share, Haryana (9% market share), Delhi (8% market share) and 7% market share in Gujarat. It recently announced that it would start grinding units in Dubai and cement manufacturing unit in China.

BY: ASIM SINGHAL

PGDM IIIrd SEM.

Indians beat Chinese at prosperity game

India fares better in overall prosperity, despite weak economic indicators, and is ranked 45th in the world, ahead of China’s 75th rank,
according to indices compiled by global think tank, Legatum Institute. The composite prosperity index is compiled based on nine parameters, including factors such as economic fundamentals, environment for entrepreneurship and innovation, access to quality education, democratic institutions, governance, health, personal freedom, social capital and security. The index ranks world’s 104 countries, covering 90% of the world’s population. Finland tops the Index, followed by Switzerland, Sweden, and Denmark; the United States is 9th and the United Kingdom is 13th. India is ranked 5th on measures of social capital, which reflects among others, the percentage of citizens who volunteer, give charity, help strangers, and who feel they can rely on family and friends. In this area, India is ahead of Finland, the US, and the UK which occupy the sixth, seventh and the 11th spot, respectively. India has outperformed China on several economic indicators as it performed well in the critical non-economic factors, such as personal freedom which encompasses freedom of speech and religion, national tolerance for immigrants and ethnic and racial minorities, for which India ranks 47th globally compared with China’s 91st place. “Although, China outperforms India on several economic indicators, India is 30 places higher in the final rankings because of China’s poor levels of personal freedom and democracy,” said William Inboden, senior vice-president of the Legatum Institute. “However, there are some areas of concern for India, particularly in the quality of healthcare and education for which India ranks 88th and 86th, respectively,” concluded Mr Inboden. Interestingly, Austria tops the list as far as health as a parameter is concerned, according to Legatum. While Norway tops the ranking in education, personal freedom and social security, New Zealand tops social capital ranking. While Switzerland tops the rankings for democratic institutions, Hong Kong tops economic fundamentals’ ranking. The United States tops the entrepreneurship and innovation ranking. Denmark, on the other hand, tops in governance.
BY:ASIM SINGHAL
PGDM IIIrd SEM.

Reading Body Language ThrougMan’s Hairstyle
“Hair is often an excellent predictor of someone’s self-image and lifestyle,” says Jo-Ellan Dimitrius in Reading People: How to Understand People and Predict Their Behavior – Anyplace, Anytime. “Your hairstyle can reveal how you feel about aging, how extravagant or practical you are, how much importance you attach to impressing others, your socioeconomic background, your overall emotional maturity, and sometimes even the part of the country where you were raised or now live.”
When you’re reading body language through a man’s hairstyle, keep current fashion trends in mind. What was popular in the 80s isn’t now, which means that an 80s hairstyle says something different about a man today than it did in the 80s.
Hairstyle is part of the whole package that offers tips on personality, behavior, and lifestyle.
What Coiffed or Styled Hair on a Man Reveals
When a man’s hair is carefully cut, blow-dried, and hair sprayed, it could indicate that he’s into the power image. A man who pays close attention to his hair may also have expensive or trendy clothes, shoes, accessories, and toys. Reading body language in this case isn’t difficult: this man is probably vain and wants to impress others.

“All other things – the suit, the shoes – being equal, the man with the coiffed hair is almost guaranteed to be more concerned with status, power, and image than the man whose hair is neatly cut but not styled or sprayed,” says Dimitrius in Reading People.
What Short Hair on a Man Reveals
Reading body language in this case can be confusing, because short hair on a man can reveal many things about his personality. Very short hair on a man could indicate that he’s practical, plays sports, is conservative, is in the military, is recovering from medical treatment, or works for an organization that requires short hair (such as the police or fire department). A man who deliberately shaves his head bald is an extreme example of "very short hair."
Dimitrius indicates the short hair on a man doesn’t reveal political views the way it once did.
What Hair Loss on a Man Reveals
How a man deals with hair loss shows his personality. If he uses extreme comb overs or obvious hairpieces, he may have poor judgment. He simply doesn’t realize how he looks to others, and he thinks people won’t notice.
Hair replacement surgery and hair plugs to replace hair loss may indicate a lack of self-acceptance and vanity. Men who go to the extent of surgery to look younger and more attractive may struggle with self-esteem and insecurity (which we all do sometimes).
“Baseball caps, hats, and ponytails on a balding man can also indicate resistance to growing older (or growing up),” says Dimitrius in Reading People. “But bear in mind that many balding men have to wear a hat outdoors to avoid sunburn on their scalp or for warmth in cold weather. If the hat stays on indoors, that’s another story. The wearer may be self-conscious and insecure because of his hair loss.”
Nonverbal Communication and a Man’s Hair
When you’re looking at a man’s hairstyle as part of body language, remember that there are other factors that reveal his personality traits and lifestyle. Reading body language and nonverbal communication involves taking in the whole person, not just separate aspects.

POSTED BY:

ASHWANI SUHALKA PGDM 2nd yr

Wipro Q2 net up 21%, outlook strong on demand boost

BANGALORE: Wipro Ltd beat estimates with a 21% rise in quarterly profit and forecast strong growth as it won new outsourcing deals from overseas clients and pricing pressure eased.

Wipro, the country's third-largest software services exporter, behind Tata Consultancy Services and Infosys Technologies, sees more stability in volumes and pricing and the demand environment improving, Chairman Azim Premji said in a statement.

New York-listed Wipro expects its IT services revenue to rise 3.8-5.7% in Oct-Dec from the preceding quarter to $1.09-$1.11 billion, after it posted a 1.9% sequential rise in July-Sept.

India's $60 billion outsourcing sector has been hit by the global downturn as core financial clients cut technology spending but the industry is looking up after bigger firms won large deals recently and said demand for price cuts had reduced.

The sector however faces competition from major players such as IBM and Accenture and new rivals from a wave of M&A in the global technology sector.

Wipro, which integrates IT systems, develops software applications and manages call centres, said July-Sept net profit rose to 11.71 billion rupees ($252 million) under international accounting rules, from 9.70 billion a year ago.

Total revenue rose 6% from a year earlier to 69.18 billion rupees as it added 37 new clients during the quarter. A Reuters poll had forecast a net profit of 10.41 billion rupees for Wipro, which counts Citigroup, Cisco, General Motors and Credit Suisse among its clients.

Shares in Wipro, majority-owned by billionaire Chairman Azim Premji, soared 59% in July-Sept versus a 39% rise in the sector index and 18% in the main index.

POSTED BY: PALLAVI SINGH

PGDM III SEM

GDP likely to grow by 6.5-6.75%: FM

NEW DELHI: Finance minister Pranab Mukherjee today said he would rather go with the economic growth projection of the Prime Minister's economic panel, saying the six per cent forecast by RBI was way too conservative.

"RBI always makes very hard and conservative assessment... The GDP growth I am inclined to accept (is) the figure of Prime Minister's Economic Advisory Council, headed by C Ranagarajan, that means from 6.5 to 6.75 per cent," he told reporters.

In its monetary policy review, the central bank retained its earlier forecast of six per cent growth for FY'10.

Asked whether stimulus measures will continue, he said, "As I mentioned that until the economy is on a firm recovery path, it will continue."

The finance minister said figures for second quarter economic growth are yet to come, but industry has started picking up. The Indian economy grew by 6.1 per cent in the first quarter.

On inflation, Mukherjee said the government has taken steps to ensure that the adverse impact of inflationary pressures is reduced by strengthening supply management. The Reserve Bank has projected wholesale price inflation to reach 6.5 per cent by this fiscal-end, higher than its earlier estimate of five per cent.

POSTED BY: PALLAVI SINGH

PGDM III SEM

Railway Board clears Rs 9 cr plan to upgrade Ajni loco shed

NAGPUR: The Railway Board has approved a Rs 9 crore proposal to upgrade the electric loco shed at Ajni, taking its existing capacity of maintaining electric locomotives from 148 to 175. Upgradation of the shed would mean overhauling more passenger and freight trains, and solve the problem of trains being delayed or stranded for want of locos.

Talking to mediapersons on Saturday during a visit to the loco shed, senior divisional electric engineer (loco shed), Ajni, HM Sharma said the proposal had been approved in August. The actual expansion would be completed over the next four years, he said, including addition of new equipment, sections and staff training. The proposal also included additional staff. "Almost 30% of the paper work has been completed and the work is likely to start next year," Sharma said.

The Ajni loco shed was constructed under the railway electrification project and commissioned in 1990. It maintains 148 locomotives including 88 WAG-7 and 60 WAG-9 models. "The shed has achieved loco outage of more than 92% i.e. maintained 138 locos annually. Over 20% of the maintained locos are utilized in Central Railway while 80% in other zones," Sharma said.

Sharma said that with the innovative approach in the workshop and the improving reliability of electric engines, the loco shed is one of top ranking sheds across the Indian Railways network.

"The shed has secured ISO certification and the work is being performed as per the certification guidelines and standards. The shed has done remarkable work in the field of maintenance of electric locomotives and it has been rewarded the 'Best shed of Central Railway' award on several occasions," Sharma said.

He stressed that in times to come, when the number of trains increasing and revenue targets going up, the shed has an important role to play by way of further increasing the efficiency. "Presently, on an average the Ajni-based locomotives are running more than 12 lakh km per failure. By adopting better action plans and special techniques, the loco shed has achieved wheel life of locomotives at 74 months," Sharma claimed.

POSTED BY: PALLAVI SINGH
PGDM III SEM

manmohan calls for saving himalyan eco-system

Prime Minister Manmohan Singh on Monday emphasised the need for greater engagement and coordination with all the country’s neighbours who share the Himalayas and pointed out that some bilateral initiatives were being taken up with China and Bhutan in this respect.

While a large part of the Himalayan range is within the Indian territory, there are other countries who share the mountain ranges with India, including Nepal, Bhutan, China and Pakistan.

Dr. Singh was chairing a meeting of the Prime Minister’s Council on Climate Change on the National Mission on Sustaining the Himalayan Eco-System. He said any comprehensive Climate Change Action Plan for the entire Himalayan zone would require coordinated action among all stakeholder countries.

Expressing happiness that the mission — one of the eight identified in the National Action Plan for Climate Change — had come up with a set of concrete, immediate and long term measures, he said involvement of the local communities was indispensable in ensuring its successful implementation.

“While the State governments have been sensitised to the need for drawing upon local and traditional knowledge and practices, I invite the Chief Ministers of the Himalayan States to join in a national effort to safeguard the Himalayan eco-system.”

Glaciers receding


India had anecdotal evidence that glaciers may be receding. There was need for obtaining precise and carefully vetted data, both through satellite imaging and ground surveys. The establishment of a Centre for Glaciological Studies was welcome, he said adding that the initiative taken to commission a study on the Himalayan glaciers in collaboration with the ISRO was commendable.

“This initiative must become an integral part of this National Mission and institutionalised so that the longer-term trends are monitored and analysed. Only then would it be possible to formulate appropriate and effective adaptation strategies.”Describing the entire Himalayan zone, including the mountains, the foothills and the terai area, as an extremely fragile zone, he said that over the years, deforestation, demographic pressures and rapid and often uncontrolled urbanisation and construction with only marginal attention being paid to environmental safeguards had caused steady degradation.

Adaptation response


“Now, however, these stresses and strains are already beginning to be accentuated by the adverse consequences of climate change. While the larger challenge of global climate change has to be addressed, we need to prepare our country and people to anticipate and respond to its consequences. And part of the adaptation response lies in halting and reversing the degradation that has already taken place in the Himalayas.”

ANSHU KUMAR
PGDM 1st sem

Ron Kirk wants improvement in trade

Stating that the U.S. was excited and committed to improve economic relationship with India, U.S. Trade Representative (USTR) Ron Kirk on Monday urged the Indian Government to improve climate for luring liberal investments into India, including the IPR regime.

“We would also like to see more improvement and openness in the investment environment for U.S. businesses in India.

“There is room for improvement by India and we have conveyed to the Union Commerce and Industry Minister, Anand Sharma. There is concern over the present Intellectual Property Right (IPR) regime and how it works. Present trade between the two countries is the tip of the iceberg.

Seeks greater access


“We want India to be among the top ten trading partners of the U.S. from the present 17th position. We look for improvement in the healthcare, education, information technology and environmental systems. The U.S. has sought greater access to financial services, goods and services areas,” he told journalists at a briefing here. Referring to the concerns expressed by the Indian side on the H1-B visas issue, Mr. Kirk said the U.S. administration was working closely with the U.S. Congress to address the concerns on this issue.

Talking about the IPR regime, Mr. Kirk said it was saddening that India had been on the U.S. watch-list for the last 14 years. Business partners should play but the rules. India needs to work on the IPR issues and its administration in order to generate confidence among investors from the U.S.

ANSHU KUMAR
PGDM 1st sem

India, U.S. to conclude three trade pacts

India and the U.S. on Monday agreed to fast-track and conclude within a given timeframe agreements on enhancing and deepening trade and investment engagement, and Intellectual Property Rights (IPR) cooperation agreement and an agreement for putting in place traditional knowledge digital library.

The two countries also issued a joint statement at the end of the Sixth Ministerial Level meeting of the India-U.S. Trade Policy Forum (TPF) with readiness to continue focus on agriculture, innovation and creativity, investment, services and tariff and non-tariff barriers. The Indian team was headed by the Commerce and Industry Minister, Anand Sharma, and the U.S. delegation was headed by the U.S. Trade Representative, Ron Kirk.

Briefing journalists at the end of the meeting, Mr. Sharma said although no firm deadline had been fixed for concluding these agreements they would happen soon. “The U.S. has submitted us a draft on these issues and we will certainly study it. We hope to sign agreement very soon. These are in continuation of the high-level engagement between the two countries and in the run-up to the Prime Minister, Manmohan Singh’s, visit to Washington next month,” he added.

Agreement on IPR


Mr. Sharma said the cooperation agreement on IPR was being put in place to reassure and comfort investors from both the countries. Expressing satisfaction with the result of Monday’s meeting, Mr. Sharma said the Indo-U.S. TPF would act as a catalyst for enhancing trade and investment and promoting economic engagement.

The joint statement said the two countries agreed to work together on a framework for promoting real and meaningful cooperation in trade and investment.

They also agreed to work together to support greater involvement of small and medium enterprises in each others’ markets and to pursue initiatives in the further development of India’s infrastructure, collaboration on clean energy and environmental services, information and communications technologies and other key sectors.

H1-B visas


On the issue of H1-B visas for Indian professionals, Mr. Sharma said he had taken up the matter with Mr. Kirk stating that the Indian IT sector and industry in the U.S. had not only made huge investments but also generated thousands of jobs.

They are only one per cent of the total IT professionals working in the U.S. They have made a huge contribution to the U.S. economy and U.S. should take steps to sort out all issues faced by them in this area.
ANSHU KUMAR
PGDM 1st year

Impact of globlization on Education

Impact of Globalization on Management Education in India
Impact of Globalization on Management Education in IndiaGlobalization and its MeaningThe term ‘globalization’ means integration of economies and societies through cross country flows of information, ideas, technologies, goods, services, capital, finance and people. Cross border integration can have several dimensions – cultural, social, political and economic. In fact, some people fear cultural and social integration even more than economic integration. Historical DevelopmentNothing is permanent, only change is permanent. Globalization is a feature of changing world. It is no more a recent phenomenon in the world and since India is major player of twenty first century we are facing its socio – economic impacts. Initial enthusiasm for globalization as a beneficial set of processes has yielded to an understanding that the phenomenon is largely associated with increasing social inequality within and between countries as well as instability and conflict. Globalization is impacting the institutional framework in both developing and industrial countries. It is changing the way in which governments perceive their role in the society. It has also far reaching implications for socio economic development and educational systems of countries all over the World. With abundance of natural resources India has huge young and skilled man power to excel in every walk of life. Globalization has been a historical process. During the Pre-World War I period of 1870 to 1914, there was rapid integration of the economies in terms of trade flows, movement of capital and migration of people. The growth of globalization was mainly led by the technological forces in the fields of transport and communication. Indeed there were no passports and visa requirements and very few non-tariff barriers and restrictions on fund flows. Globalization, process was slow between the First and the Second World War. After World War II, all the leading countries resolved not to repeat the mistakes they had committed previously by opting for isolation. Although after 1945, there was a drive to increased integration, it took a long time to reach the Pre-World War I level. In terms of percentage of exports and imports to total output, the US could reach the pre-World War level of 11 per cent only around 1970. Most of the developing countries like India, Pakistan, Bangladesh, Srilanka which gained Independence from the colonial rule in the immediate Post-World War II period followed an import substitution industrialization regime. The Soviet bloc countries were also shielded from the process of global economic integration. However, times have changed. In the last two decades, the process of globalization has proceeded with greater vigour. The former Soviet bloc countries are getting integrated with the global economy. More and more developing countries are turning towards outward oriented policy of growth. Yet, studies point out that trade and capital markets are no more globalized today than they were at the end of the 19th century. Nevertheless, there are more concerns about globalization now than before because of the nature and speed of transformation. Benefits of GlobalizationEvery event, activity and decision has its advantages as well as disadvantages. The benefits from globalization can be analyzed in the context of the three types of channels of economic globalization identified earlier.Trade in Goods and ServicesWe know that international trade leads to allocation of resources that is consistent with comparative advantage. This results in specialization which enhances productivity. It is accepted that international trade, in general, is beneficial and that restrictive trade practices impede growth. That’s why many of the emerging economies, which originally depended on a growth model of import substitution, have moved over to a policy of outward orientation.Trade in goods and services is important for every type of economy weather developed or developing. Emerging economies will get the benefits of international trade only if So international trade agreements make exceptions by allowing longer time to developing economies in terms of reduction in tariff and non-tariff barriers. “Special and differentiated treatment”, as it is very often called has become an accepted principle.Movement of Capital. Capital is key factor of production. Capital flows across countries have played an important role in enhancing the production base. Without capital any type of economic activity is not possible. India had fund crisis several times. Capital mobility enables the total savings of the world to be distributed among countries which have the highest investment potential. Under these circumstances, one country’s growth is not constrained by its own domestic savings. The current account deficit of some of these countries had exceeded 5 per cent of the GDP in most of the period when growth was rapid. Capital flows can take either the form of foreign direct investment or portfolio investment. The inflow of foreign capital has played a significant role in the development in the recent period of the East Asian countries. For developing countries the preferred alternative is foreign direct investment. Portfolio investment does not directly lead to expansion of productive capacity. It may do so, however, at one step removed. Portfolio investment can be volatile particularly in times of loss of confidence. That is why countries want to put restrictions on portfolio investment. However, in an open system such restrictions cannot work easily. Financial FlowsEmergence of strong capital market has been one of the important features of the current process of globalization. While the growth in capital and foreign exchange markets have facilitated the transfer of resources across borders, the gross turnover in foreign exchange markets has been extremely large. It is estimated that the gross turnover is around $ 1.5 trillion per day worldwide (Frankel, 2000). This is of the order of hundred times greater than the volume of trade in goods and services. Currency trade has become an end in itself. However, the volatility in the foreign exchange market and the ease with which funds can be withdrawn from countries have created often times panic situations. The most recent example of this was the East Asian crisis. Contagion of financial crises is a worrying phenomenon. When one country faces a crisis, it affects others. It is not as if financial crises are solely caused by foreign exchange traders. Herd instinct is not uncommon in financial markets. When an economy becomes more open to capital and financial flows, there is even greater compulsion to ensure that factors relating to macro-economic stability are not ignored. Concerns and FearsA nation or economy must be careful about Globalization. On the impact of globalization, there are two major concerns. These may be described as even fears. Under each major concern there are many related anxieties. The first major concern is that globalization leads to a more iniquitous distribution of income among countries and within countries. The second fear is that globalization leads to loss of national sovereignty and that countries are finding it increasingly difficult to follow independent domestic policies. These two issues have to be addressed both theoretically and empirically. Economists have different views on Globalization. Some favor it while many oppose it. The argument that globalization leads to inequality is based on the premise that since globalization emphasizes efficiency, gains will accrue to countries which are favourably endowed with natural and human resources. Advanced countries have had a head start over the other countries by at least three centuries. The technological base of these countries is not only wide but highly sophisticated. While trade benefits all countries, greater gains accrue to the industrially advanced countries. This is the reason why even in the present trade agreements, a case has been built up for special and differential treatment in relation to developing countries However, there are two changes with respect to international trade which may work to the advantage of the developing countries. For a variety of reasons, the industrially advanced countries are vacating certain areas of production. These can be filled in by developing countries. International trade is no longer determined by the distribution of natural resources. By and large, this treatment provides for longer transition periods in relation to adjustment. With the advent of information technology, the role of human resources has emerged as more important. Specialized human skills will become the determining factor in the coming decades. Productive activities are becoming “knowledge intensive” rather than “resource intensive”. While there is a divide between developing and the advanced countries even in this area – some people call it the digital divide - it is a gap which can be bridged. A globalized economy with increased specialization can lead to improved productivity and faster growth. What will be required is a balancing mechanism to ensure that the handicaps of the developing countries are overcome. Globalization – Education and HR development Knowledge is the driving force in the rapidly changing globalised economy and society. Quantity and quality of specialized human resources determine their competence in the global market. Emergence of knowledge as driving factor results in both challenges and opportunities. It is well known that the growth of the global economy has increased opportunities for those countries with good levels of education.Globalization has a multi-dimensional impact on the system of education. It promotes new tools & techniques in this area like E-learning, Flexible learning, Distance Education Programs and Overseas training. Globalization will mean many different things for education. In the near future, “it will mean a more competitive and deregulated educational system modeled after free market but with more pressure on it to assure that the next generation of workers are prepared for some amorphous ‘job market of 21st century’. Since “Life long jobs have been converted in to yearly contracts there is still possibility of even short duration jobs. Our education system should deliver such education and training so that professionals can adjust themselves as per market expectations. It has underlined the need for reforms in the educational system with particular reference to the wider utilization of information technology, giving productivity dimension to education and emphasis on its research and development activities.The benefits of globalization accrue to the countries with highly skilled human capital and it is a curse for the countries without such specialised human capital. Developing and transition countries are further challenged in a highly competitive world economy because their higher education systems are not adequately developed for the creation and use of knowledge. Converting the challenges into opportunities depend on the rapidity at which they adapt to the changing environment. India is also following the global phenomenon. As part of globalisation, the economic reform packages were introduced in India in the beginning of 1991. These reform packages imposed a heavy compression on the public budgets on education sector, more specifically so on higher education. This has trickled down to public expenditure on education in general, and higher education in particular. Indian government and Indian corporate sector has recognized the importance of management education in the changing global scenario. Today under the reforming economic conditions, integration of the Indian economy with world economy presupposes efficiency and competitiveness in the domestic front as well as in the international arena. As the process of globalization is technology-driven, and knowledge-driven, the very success of economic reform policies critically depends upon the competence of human capital. But, what is observed is the reverse. Even within the education sector, relative priority assigned to higher education has been on the decline . It is to be realized that higher education institutions play an important role in setting the academic standard for primary and secondary education. They are also responsible for not only providing the specialized human capital in order to corner the gains from globalisation, but also for training inside the country, provide policy advice, etc.Globalization is expected to have a positive influence on the volume, quality and spread of knowledge through increased interaction among the various states.Today our educational system is strong enough but Central and state governments should change their roles within the education system, re-inventing themselves as facilitating and supervisory organizations. Teacher training, infrastructure and syllabuses need to be urgently upgraded. Industry should come forward to share experience with students and to offer more opportunities for live Projects.The free market philosophy has already entered the educational world in a big way. Commercialization of education is the order of the day. Commercial institutions offering specialized education have come up everywhere. In view of globalization, many corporate universities, both foreign and Indian, are encroaching upon our government institutions. Our Institutes like IIM’S and IIT’S have produced world class professionals. These institutes imparts quality education as per industry expectations and give due importance to Institute Industry Interface. Under the new scenario, Government – Private partnership is becoming important in Management Education. Now India is a transforming country. We are near to achieve status of developed nation.The demand for higher education has been growing rapidly with comparatively faster growth in enrolment in higher educational institutions1 than the growth in number of higher educational institutions .The growth rates are doubled among the students enrolled in post-graduate and research, while the number of institutions for post-graduate and research studies has grown at a slower rate in 1990s than in 1980s.Though the enrolment has been increasing in absolute terms, only 7 per cent of the population in the age group 17 to 24 attended higher educational institutions in India, as against 92 per cent of the eligible age-group population attending higher educational institutions in USA, 52 per cent in UK and 45 per cent in Japan .