1.Cairn India bought by Vedanta for $9.6 billion(60% stake).Vedanta is an out and out mining company so the decision to enter into energy sector has not gone down well with the minority shareholders.
2. Mahindra and Mahindra have emerged as the preffered bidder for torubled South Korean vehicle manufacturer Ssangyong Motor at $400 milllion.mahindra stock has taken a beating since it started pursuing the fourth largest automobile manufacturer in South Korea which already has a huge debt.
3.Oracle filed a complaint in a Northern California federal court accusing Google of deliberately infringing various Java-related patents and copyrights that Oracle acquired with its purchase of Sun Microsystems. The suit asserts seven patents, claiming infringement by Android, including Android's Dalvik virtual machine and the Android software development kit.
4.Wikileaks came under intense criticism when it published first 77,000 records(military records) of american military information related to Afghan war.Remaining 15,000 records are part of a massive cache of some 92,000 records related to Afghan war that came into Wikileaks' possession, most likely as a result of US Army intelligence specialist Bradley Manning, who has been charged with leaking secret US documents including video showing an Apache helicopter firing on unarmed people on a Baghdad street.Officials have said remaining documents could be even "more explosive".
(WikiLeaks or Wikileaks is an international organization that publishes anonymous submissions and leaks of otherwise unavailable documents while preserving the anonymity of sources. Its website, launched in 2006, is run by The Sunshine Press.)
NOTE: a nice link to view events in a week: http://headlinesindia.mapsofindia.com/musings/index.html
Tuesday, August 17, 2010
Indian economy
NEW DELHI: The two hands to produce count for more than that one mouth to feed, after all. Driven by a sterling demographic dividend, continuing structural reform and globalisation, India is poised to accelerate its growth rate to 9-9.5% over 2013-15, even as China will cool down to a more sedate 9% by 2012 and to 8% by 2015. So finds a new report by Morgan Stanley, authored by Chetan Ahya (managing director for Asia and India economist, who writes a monthly column for ET) and Tanvee Gupta.
India has one of the lowest median ages among the major economies. When an economy prospers, first its death rate and then, its birth rate falls. As this trend proceeds, there is a big bulge in the working age population while the non-working population (the young and the old) shrink as a share of the population. The lowering of the dependent (non-working) population to working age population ratio has twin effects.
One, it allows people to save a large proportion of their income, raising the country’s rate of savings; two, it boosts the number of people who work and contribute to growth. Thanks to structural reform, the additional hands available for work find work. Even with stagnant per capita output, the sheer increase in the number of workers would raise GDP growth. With reform pushing up productivity per worker, GDP would rise even faster.
Globalisation gives additional job opportunities, additional capital to augment rising domestic savings and additional know-how. With this happy combination, the report expects India to become the world’s fastest-growing economy. The government’s chief economic advisor Kaushik Basu has been forecasting such a development as well.
“Real GDP growth in China has averaged 10% annually over the past 30 years, compared with 6.2% in India. During this period, China’s GDP grew 16 times to $5 trillion whereas India’s rose seven times to $1.2 trillion. China’s exports (including services) surged 65 times over this period to $1,330 billion while India’s exports increased 22 times to $250 billion” says the report.
China has overtaken Japan to become the world’s second-largest economy. China’s demographic transition pushed up its savings rate above 30% in 1985, while India’s savings rate crossed that level only in 2005. India’s consumption level will now come down, even as China’s will rise.
Underlying the Morgan Stanley forecast is the assumption that India will significantly jack up its expenditure on infrastructure and in plant and machinery. Infrastructure expenditure has gone up from 5.4% of GDP in 2005 to 7.5% in 2009 and is poised to go up to 8% of GDP in 2010. Over 2012-17, the forecast is that India’s infrastructure spend would be $1 trillion as compared with $530 million over the previous five-year period.
Another assumption is on the quantity and quality of the young people coming into the workforce. While India will be the largest contributor to the world’s workforce — all of 136 million people — over the next 10 years (fully a quarter of the entire world’s additional workforce), China will add just 23 million.
Source: economic times
http://economictimes.indiatimes.com/news/economy/indicators/India-to-become-worlds-fastest-growing-economy-by-2013-15-Morgan-Stanley/articleshow/6322333.cms
India has one of the lowest median ages among the major economies. When an economy prospers, first its death rate and then, its birth rate falls. As this trend proceeds, there is a big bulge in the working age population while the non-working population (the young and the old) shrink as a share of the population. The lowering of the dependent (non-working) population to working age population ratio has twin effects.
One, it allows people to save a large proportion of their income, raising the country’s rate of savings; two, it boosts the number of people who work and contribute to growth. Thanks to structural reform, the additional hands available for work find work. Even with stagnant per capita output, the sheer increase in the number of workers would raise GDP growth. With reform pushing up productivity per worker, GDP would rise even faster.
Globalisation gives additional job opportunities, additional capital to augment rising domestic savings and additional know-how. With this happy combination, the report expects India to become the world’s fastest-growing economy. The government’s chief economic advisor Kaushik Basu has been forecasting such a development as well.
“Real GDP growth in China has averaged 10% annually over the past 30 years, compared with 6.2% in India. During this period, China’s GDP grew 16 times to $5 trillion whereas India’s rose seven times to $1.2 trillion. China’s exports (including services) surged 65 times over this period to $1,330 billion while India’s exports increased 22 times to $250 billion” says the report.
China has overtaken Japan to become the world’s second-largest economy. China’s demographic transition pushed up its savings rate above 30% in 1985, while India’s savings rate crossed that level only in 2005. India’s consumption level will now come down, even as China’s will rise.
Underlying the Morgan Stanley forecast is the assumption that India will significantly jack up its expenditure on infrastructure and in plant and machinery. Infrastructure expenditure has gone up from 5.4% of GDP in 2005 to 7.5% in 2009 and is poised to go up to 8% of GDP in 2010. Over 2012-17, the forecast is that India’s infrastructure spend would be $1 trillion as compared with $530 million over the previous five-year period.
Another assumption is on the quantity and quality of the young people coming into the workforce. While India will be the largest contributor to the world’s workforce — all of 136 million people — over the next 10 years (fully a quarter of the entire world’s additional workforce), China will add just 23 million.
Source: economic times
http://economictimes.indiatimes.com/news/economy/indicators/India-to-become-worlds-fastest-growing-economy-by-2013-15-Morgan-Stanley/articleshow/6322333.cms
Thursday, August 5, 2010
Blackberry controversy
In a new twist to the BlackBerry controversy, the government on Wednesday said the onus of giving access to security agencies to monitor the information on these smart phones lies with the service providers.
Government sources said, according to the licensing conditions, the service providers are liable to put in a mechanism to allow the security agencies to intercept any conversation or message of any subscriber whenever required.
As telecom service providers like Airtel, Vodafone, RCom, the Tatas and the government-run BSNL and MTNL are offering BlackBerry services, it is the responsibility of these operators to ensure that the security agencies get access to all services they offer.
Sources further said the maker of BlackBerry phones, Research in Motion (RIM), has conveyed to the operators that services like email and voicemail can be intercepted by the security agencies but no commitment has been given to services like BlackBerry Messager.
Source--Economic Times
Note: As of now, emails and messages thru blackberry are undecipherable by security agencies in India.China may be provided a special server by RIM for tracking these mails/messages after the Chinese government raised a similar concern.RIM has agreed to decompress the data files of messages, voice mails and consumer emails but enterprise emails and chats will still remain undecipherable due to high degree of encryption.Indian Govt is putting pressure on RIM to remove this one last hurdle.
Government sources said, according to the licensing conditions, the service providers are liable to put in a mechanism to allow the security agencies to intercept any conversation or message of any subscriber whenever required.
As telecom service providers like Airtel, Vodafone, RCom, the Tatas and the government-run BSNL and MTNL are offering BlackBerry services, it is the responsibility of these operators to ensure that the security agencies get access to all services they offer.
Sources further said the maker of BlackBerry phones, Research in Motion (RIM), has conveyed to the operators that services like email and voicemail can be intercepted by the security agencies but no commitment has been given to services like BlackBerry Messager.
Source--Economic Times
Note: As of now, emails and messages thru blackberry are undecipherable by security agencies in India.China may be provided a special server by RIM for tracking these mails/messages after the Chinese government raised a similar concern.RIM has agreed to decompress the data files of messages, voice mails and consumer emails but enterprise emails and chats will still remain undecipherable due to high degree of encryption.Indian Govt is putting pressure on RIM to remove this one last hurdle.
Monday, August 2, 2010
1.Explain the spike..?
2. Connect. (This is a sitter).You have to identify all the three pics first.
3. Started in 1822,by siblings Joseph and Edward who originally sold salt from a pack horse somewhere in england,this company is now owned by a famous Indian company which is world's 2nd largest manufacturer and distributor of the product it sells.
Name the company..
4.Again a Sitter... Identify the pictures and connect them
5.Biz Question..Connect.
Note: Post your answers as comments...
This quiz blog is the joint effort of Shardul Bahuguna And Roshan Jha Of IIM ROHTAK...
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