~BIZZ-WORLD~ » india

Airtel to launch DTH for cars

P@$$iØÑ\/@i(3H@\/ — Sat, 18 Apr 2009 08:53:39 +0000

With the start of general elections as a source of revenue Bharti Airtel’s direct-to-home arm is ready to launch its mobile DTH units for cars.

The company that launched its DTH operations in October last year is in talks with various automobile companies to install their mobile DTH units.

DTH in cars works with the help of a special auto-tracking antenna that is mounted on the roof of the car. The antenna tracks the company’s satellite placed in orbit at 36,000 km, from where signals will be fed to the set top box placed near the television set inside the car. This will enable seamless transmission of satellite channels in the vehicle.

N Arjun, executive director of DTH Services of Bharti Airtel Ltd says, “We have a product for SUVs, trains and buses. The cost of installations is high. That is why we are talking about higher-end side of the market, like SUVs and trains.”

Not revealing the cost of Bharti Airtel’s mobile DTH unit, N Arjun said, “We are in talks with a host of companies for these products, but haven’t commercially launched it right now.”

This service was launched by Essel Group’s Dish TV in 2007, which has found a few hundred takers for this service. A company spokesperson said, “Election is a major puller for this service. Politicians and other interested parties need information round the clock so this keeps them connected to the news all the time. This service is substantially present in the metros.” The installation of a DTH unit in a vehicle costs upwards of Rs 150,000.

MORE…

If you liked this post, buy me a beer. (Suggested: $2 a beer or $5 for a pitcher)

The story behind CBI’s Satyam investigation

P@$$iØÑ\/@i(3H@\/ — Thu, 09 Apr 2009 06:56:18 +0000

A voluminous 65,000 page chargesheet in the Satyam case was produced in the CBI court in Hyderabad on Tuesday and it was filed in a record 45 days since the CBI took over the case from the CID.

The chargesheet also consists of 1532 documents as evidence with 433 witness statements.

Sources say that CBI could meet the deadline due to the presence of the multidisciplinary team which examined the various parts of the case.

So while SEBI focussed on the capital markets and the issue of insider trading amounting to Rs 700 crore, SFIO focussed on inflation of accounts and the fraudulent methods used by the management.

More than 7000 fake invoices were recovered and evidence of loans arranged for the Raju’s family through 327 companies were also gathered.

So what did it take to come out with such a voluminous chargesheet within 90 days?

The core investigating team comprised of 11 officers from CBI, 14 officers who formed the multidisciplinary team, 10 junior officers worked on gathering the evidence and and 4 public prosecutors to help with the legal issues.

And ever since the scam broke out, these officers have worked for 16 hours a day sacrificing their weekly offs and public holidays.

But there were a few surprises too in the chargesheet. Contrary to common belief, there was no mention of siphoning of funds to the Maytas companies owned by the promoter family something that the Raju family has been maintaining since the fraud came to light on January 7.

“We have filed the chargesheet and the investigations are going on. But as and when facts come out we would file supplementary chargesheets,” said VV Laxminarayana, DIG, CBI.

With the chargesheet done, the next task before the agency would be to ensure strict sentences against the accused.

While there is no evidence of siphoning of funds which could have invited a more harsh sentence for Satyam’s former chairman Raju, CBI maintains that the charge under section 467 of the IPC dealing with forgery of valuable securities alone could give Raju life in prison while the other charges could give him a measly 2-7 years in jail once the charges are proved in court.

[SOURCE]

If you liked this post, buy me a beer. (Suggested: $2 a beer or $5 for a pitcher)

Satyam episode a blot on corporate India, says PM

P@$$iØÑ\/@i(3H@\/ — Sat, 17 Jan 2009 20:03:40 +0000

MUMBAI: The Prime Minister Dr Manmohan Singh on Saturday said that the Satyam issue is a blot on corporate India and corporates must look in to a

ccounting practices. The PM was speaking at the ET Awards in Mumbai.

The PM said that it is a testing time for the country and the government has taken steps to combat slowdown. “Global financial markets have high risks, there will be a recovery to economic potential,” Dr Singh added.

He reiterated that the rate of inflation has eased and is expected to decline further. This gives flexibility for conduct of monetary policy.

The PM said, “Fiscal deficit will be much higher than before, it cannot be tolerated indefinitely. Growth rate will slow, but still much more than that in other economies.”

On terrorism the PM said, “This award function was postponed due to the ghastly attack in Mumbai last November and we will ensure these attacks do not happen again. No country can tolerate such kind of attack.”

Dr Singh came down heavily on Pakistan and expected it to take action against the terrorists. “I feel the pain and suffering of Mumbai, this was an attack on our nationhood. Pak must ensure these attacks don’t happen again.”

He said that the Mumbai attack revealed shortfalls in the system.

[Source]

If you liked this post, buy me a beer. (Suggested: $2 a beer or $5 for a pitcher)

India to have near 0% inflation in H2 of ’09

P@$$iØÑ\/@i(3H@\/ — Wed, 05 Nov 2008 08:58:06 +0000

The country is likely to have near zero inflation in certain periods of second half of 2009 on account of economic slowdown and falling commodity prices, says a report by broking house Edelweiss Securities.

Inflation stood at 10.68 for the week ended October 18. “Given the possibility of a further strong softening in commodity prices amidst a marked global slowdown, domestic inflation can be zero or near zero during H2 CY’09,” Edelweiss analyst Siddhartha Sanyal in his research report.

The US and the UK have already reported contraction in output and most emerging economies are also likely to be hit in CY09, the report said, adding that the slowdown is likely to soften overall price levels in most economies.

Slowing global industrial production will further weaken the base metal prices, especially after the decline in demand from China. Economic slowdown is expected to significantly cut down energy demand, the report noted.

A softened crude price will mean lower prices of various chemicals, fertilisers, etc. Accordingly, recession accompanied by deflation is a strong possibility in case of several industrial economies, it said.

MORE…

If you liked this post, buy me a beer. (Suggested: $2 a beer or $5 for a pitcher)

RBI cuts rates to induce Rs 85,000 cr; signals interest cut

P@$$iØÑ\/@i(3H@\/ — Sat, 01 Nov 2008 20:30:05 +0000

In a major move to inject an additional estimated Rs 85,000 crore into the system, Reserve Bank of India today cut key deposit requirements for banks by 1 per cent and its short-term lending rate by 0.5 per cent, a decision that may help soften general interest rates.

The decisions to cut the Cash Reserve Ratio and Statutory Liquidity Ratio by one per cent each and Repo Rate by 0.50 per cent come a week after the busy season credit policy review by RBI in which it had given an assurance of more measures to boost economic growth.

“Global financial conditions continue to remain uncertain and unsettled and early signs of a global recession are becoming evident. These developments are being reflected in sharp declines in stock markets across the world and heightened volatility in currency movement.

“International money markets are yet to regain calm and confidence and return to normal functioning,” a statement from the Bank said, announcing the decisions, while adding it will continue to closely monitor development in global and domestic financial markets and take swift and effective action as appropriate. With today’s measures, the RBI has pumped in about Rs 270,000 crore in the system since October, but industry leaders and bankers feel that more is needed to effectively bring down the commercial lending rates.

Source

If you liked this post, buy me a beer. (Suggested: $2 a beer or $5 for a pitcher)

Insurance: India Inc hails FDI hike decision

P@$$iØÑ\/@i(3H@\/ — Fri, 31 Oct 2008 18:48:33 +0000

The government’s decision to table a bill in Parliament to hike FDI cap in private insurance firms was hailed by industry chambers and insurers as a move to bring in much needed capital in the sector.”The insurance sector being a capital intensive sector requires huge investments over a prolonged period of time, and therefore, there is constant need for capital infusion.

“A hike in the sectoral FDI cap to 49 per cent would further grow the insurance sector and bring in much needed FDI to the country,” MetLife India Insurance’s managing director Rajesh Relan said in a statement.

The Confederation of Indian Industries, termed the bill as a much-awaited one, and said, that this bill “would further help in development of the insurance sector”.

The industry body, which had played an active role in preparing the draft bill, hoped that it would find a quick and easy passage in Parliament.

MORE…

If you liked this post, buy me a beer. (Suggested: $2 a beer or $5 for a pitcher)

Anil Ambani gets nod for London office

P@$$iØÑ\/@i(3H@\/ — Wed, 09 Jul 2008 20:04:55 +0000

Britain’s Financial Services Authority has approved an application by the Anil-Ambani owned Reliance Asset Management (RAM) to open an office in London.

The company has launched an offshore fund ‘Emergent India’ targeted at international investors, according to the Wealth Bulletin, a Dow Jones-owned online service for the global wealth management industry.

RAM manager Sunil Singhania said: “The timing for marketing may not be right, but from an investment perspective it is just right. From these levels there is a great opportunity for investors, although there will also be some short-term dips.”

Singhania started raising his cash weighting in October in expectation of a market correction. He had 25 per cent in cash at the start of June, but has just started to put the money to work.

The online services reported that: “He (Singhania) likes capital goods and construction companies, where he has been underweight of late. With valuations in these sectors down by more than half, its stocks are starting to look attractive again.”

He also likes financial services companies on the grounds that India is under-banked, although he expects the next six months to be tough for the local economy. India is in danger of becoming a hostage to inflation, which has hit 11.4 per cent, due to the rising cost of fuel and food”, it added.

[source]

If you liked this post, buy me a beer. (Suggested: $2 a beer or $5 for a pitcher)

How petrol price is calculated in India

P@$$iØÑ\/@i(3H@\/ — Tue, 08 Jul 2008 11:30:33 +0000

Do you know how the fuel price is calculated in India?

Suppose if the petrol price per litre in Chennai is Rs 51.90, here the break-up of cost calculated by the government:

Basic Price = Rs 21.93

Excise duty = Rs 14.35

Education Tax = Rs 0.43 Dealer commission = Rs 1.05 VAT = Rs 5.5 Crude Oil Custom duty = Rs 1.1 Petrol Custom = Rs 1.54 Transportation Charge = Rs 6.00

Total price = Rs 51.90

So for a Rs 22 litre petrol at pumps, consumers in India pay Rs 28 tax extra.[source]

If you liked this post, buy me a beer. (Suggested: $2 a beer or $5 for a pitcher)

Govt worried as inflation soars to seven-year high of 8.75 pc

P@$$iØÑ\/@i(3H@\/ — Fri, 13 Jun 2008 18:03:40 +0000

Rising food and vegetable prices pushed inflation to a seven-year high of 8.75 per cent, termed “worrying” by Finance Minister P Chidambaram, who pinned hopes on the upcoming conference called by the Saudi King to rein in zooming oil prices.

Inflation went 0.51 per cent up for the week ended May 31 from 8.24 per cent in the preceding week, raising fears of it going higher once the impact of increase in diesel, petrol and LPG prices is captured in the price movement data.

Though the government sounded confident of taming the price rise, economists expect inflation to soon hit the double digit mark, as data coming next week onwards would also take into account the hike in fuel prices announced on June 5.

Terming the high inflation as a “worrying” factor, Chidambaram told reporters in Sivaganga that the government was confident of bringing down the price rise.

Attributing the soaring inflation to the spiralling crude oil prices, the minister hoped that the conference called by the Saudi King Abdullah bin Abdulaziz to discuss the problem of zooming oil prices would bear fruits and rein in the petroleum prices.

Meanwhile, Planning Commission Deputy Chairman Montek Singh Ahluwalia said here that a good monsoon would help in controlling the prices of commodities.

“Today, inflation is on the rise and there is no denying that. It has become a major challenge for the government and we are taking all possible steps to control it,” he said.

Economists, however, projected that inflation could cross the 10 per cent mark in the coming weeks. “Once fuel price hike is reflected in the index, the rate may go up to 10 per cent,” HDFC Bank Chief Economist Abheek Barua said.

According to Petroleum Secretary M S Srinivasan, the hike could lead to about 0.5-0.6 per cent rise in inflation.

[source]

If you liked this post, buy me a beer. (Suggested: $2 a beer or $5 for a pitcher)

India’s industrial growth falls to 7%

P@$$iØÑ\/@i(3H@\/ — Fri, 13 Jun 2008 04:54:40 +0000

The fiscal 2008-09 began on somber note with industrial growth in April dropping to 7 per cent compared to 11.3 per cent in the same month a year ago, reflecting the impact of higher interest rates and rising input costs.

The performance in April, however, was much better than the 3.9 per cent growth rate witnessed during March, the last month of the previous fiscal, according the Index of Industrial Production (IIP) data released on Thursday.

“We expected the IIP to be weaker as the economy is clearly slowing down. But compared to the last 3 per cent industrial growth, the 7 per cent figure gives us some reassurance that though the economic growth will slowdown but it will not be as severe as it seemed,” S&P chief economist Subir Gokarn told PTI.

The stock markets seemed charged up after the IIP data was released with the benchmark Sensex, which was down by over 400 points in morning trade, recovered to end the day higher by over 60 points at 15,250.

Marketmen said 7 per cent growth better is than expected and it has boosted investors confidence. Attributing the reason for slowdown to high interest rates and increasing input costs, Crisil principal economist D K Joshi said the average industrial growth during 2008-09 is likely to be around 7 per cent.

If you liked this post, buy me a beer. (Suggested: $2 a beer or $5 for a pitcher)

~BIZZ-WORLD~ » india

Airtel to launch DTH for cars

Related Posts

The story behind CBI’s Satyam investigation

Related Posts

Satyam episode a blot on corporate India, says PM

Related Posts

India to have near 0% inflation in H2 of ’09

Related Posts

RBI cuts rates to induce Rs 85,000 cr; signals interest cut

Related Posts

Insurance: India Inc hails FDI hike decision

Related Posts

Anil Ambani gets nod for London office

Related Posts

How petrol price is calculated in India

Related Posts

Govt worried as inflation soars to seven-year high of 8.75 pc

Related Posts

India’s industrial growth falls to 7%

Related Posts