Wednesday, April 21, 2010
Thursday, April 15, 2010
Mongoose Bat..
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Honeywell to hire more in India
Honeywell International plans to increase its headcount in India to meet growing demand for aeroplanes and green fuel, which are the two key areas for the company. The automation and technology major, which has designed the cockpit for all U.S. space shuttles, had recently elevated Krishna Mikkilineni, President of Honeywell Technology, to its Global Executive Management Team, a move that signalled the American company's confidence on India
Over the past eight years, Honeywell India has grown from being a $50- million company with about 50 people, to more than $500 million in revenue and 11,000 employees. The company's area of operations include aerospace, automation, transportation and speciality materials, including the recently-developed green fuel that doesn't require cars to change their engines.
Ramalinga Raju's trial story looks bigger than scam
It seems that Satyam Computer Services' Founder B Ramalinga Raju is unlikely to come out of custody in the years to come. The CBI has presented 800 witnesses and submitted 160,000 pages of documents in the court.
It will take at least 800 days to examine 800 witnesses. The court has to record the chief examination of the witnesses, who would be later cross-examined by the advocates of the accused. With 10 accused in the Satyam case being represented by an equal number of advocates and if each of them wants to cross-examine every witness produced by the CBI, it will take at least one working day to complete the cross examination of one witness.
If we go through the court procedure, we get to know that Court works for five days in a week, and if we take public holidays into consideration, there will be not more than 225 working days in a year. This means that it will take nearly four years just to cross-examine the witnesses. Also Raju, who is currently hospitalized at the Nizam's Institute of Medical Sciences, is expected to read the 160,000 pages of documents if he has to defend himself effectively in the court.
It will take at least five minutes to go through a document page, understand it and instruct the advocates about it. At this rate, it will take 13,333 hours for Raju to go through the documents. Even if he manages to read for a minimum of 10 hours a day, it will take 1,333 days or over three-and-a-half years to complete the reading.
The government has set up a special court to expedite Satyam case proceedings. But if we take all these things discussed above into notice, it seems that the trial will not be completed in less than four years. Till now, it is not clear when the CBI is going to complete its investigation.
If we compare this case with Harshad Mehta and Ketan Parekh, who were involved in securities scams involving scores of companies, it seems that Raju is also not getting needed support from lawyers. Harshad Mehta and Ketan Parekh came out on bail in 107 and 53 days, respectively.
It will take at least 800 days to examine 800 witnesses. The court has to record the chief examination of the witnesses, who would be later cross-examined by the advocates of the accused. With 10 accused in the Satyam case being represented by an equal number of advocates and if each of them wants to cross-examine every witness produced by the CBI, it will take at least one working day to complete the cross examination of one witness.
If we go through the court procedure, we get to know that Court works for five days in a week, and if we take public holidays into consideration, there will be not more than 225 working days in a year. This means that it will take nearly four years just to cross-examine the witnesses. Also Raju, who is currently hospitalized at the Nizam's Institute of Medical Sciences, is expected to read the 160,000 pages of documents if he has to defend himself effectively in the court.
It will take at least five minutes to go through a document page, understand it and instruct the advocates about it. At this rate, it will take 13,333 hours for Raju to go through the documents. Even if he manages to read for a minimum of 10 hours a day, it will take 1,333 days or over three-and-a-half years to complete the reading.
The government has set up a special court to expedite Satyam case proceedings. But if we take all these things discussed above into notice, it seems that the trial will not be completed in less than four years. Till now, it is not clear when the CBI is going to complete its investigation.
If we compare this case with Harshad Mehta and Ketan Parekh, who were involved in securities scams involving scores of companies, it seems that Raju is also not getting needed support from lawyers. Harshad Mehta and Ketan Parekh came out on bail in 107 and 53 days, respectively.
Thursday, April 8, 2010
Nokia N97 Mini - Features, specs & reviews - 3 Shop Australia
Nokia N97 Mini - Features, specs & reviews - 3 Shop Australia
The sleek Nokia N97 mini integrates the web into your life and seamlessly connects you to your friends and favourite online services like Facebook and Twitter.
The sleek Nokia N97 mini integrates the web into your life and seamlessly connects you to your friends and favourite online services like Facebook and Twitter.
National Instruments expands R&D centre
National Instruments (NI) has expanded their Research and Development (R&D) facility in Bangalore. The center is expected to provide strategic and operational support and services for clients.
The new centre for innovation is equipped with product development infrastructure and employee workspace to provide the tools and environment required for efficient product innovation, said the company statement. In addition the new center will also focus on filing patents in the field of Motion Control algorithms and software development. As part of the strategic growth, NI will hire new talent and take on more work in the areas of product development.
The new centre for innovation is equipped with product development infrastructure and employee workspace to provide the tools and environment required for efficient product innovation, said the company statement. In addition the new center will also focus on filing patents in the field of Motion Control algorithms and software development. As part of the strategic growth, NI will hire new talent and take on more work in the areas of product development.
Wednesday, April 7, 2010
Fry defends Schumacher's form
Mercedes CEO Nick Fry has defended Michael Schumacher after a slow start to the season.
Satyam's board selection was a careless act: ICAI to Govt
ICAI's probe panel has hit out at bank for not doing due diligence on Satyam Computer Services before giving loans, and government for appointing Deepak Parkeh on its board despite his HDFC group being a major creditor to Ramalinga Raju's company.
The banks which gave loan to Satyam that time were HDFC Bank (Rs.530 crore), Citibank (Rs.223.87 crore) Citicorp Finance (Rs.222.28 crore), ICICI Bank (Rs.40 crore) and BNP Paribas (Rs.20 crore), totaling Rs.1221.16 crore.
In its final report, ICAI panel headed by Former President Uttam Prakash Agarwal stated, "There is no explanation as to why the banks, while sanctioning short-term loans did not seem to have posed any question as to why the company (Satyam) which was supposedly cash rich as per its financial statement was taking loans from them."
The banks which gave loan to Satyam that time were HDFC Bank (Rs.530 crore), Citibank (Rs.223.87 crore) Citicorp Finance (Rs.222.28 crore), ICICI Bank (Rs.40 crore) and BNP Paribas (Rs.20 crore), totaling Rs.1221.16 crore.
In its final report, ICAI panel headed by Former President Uttam Prakash Agarwal stated, "There is no explanation as to why the banks, while sanctioning short-term loans did not seem to have posed any question as to why the company (Satyam) which was supposedly cash rich as per its financial statement was taking loans from them."
Solve network problems with mini-towers
Do you face the network problem at home or workplace? Here is good news. You can resolve this problem with putting a miniature cell tower in your living room. These mini-towers act and look like Wi-Fi hot spots at cafes, and redirect cellphones calls from congested cell towers to home Web connections.
Christina Zachariades, 28, of Manhattan who already pays $130 a month for iPhone service but cannot receive or make calls in her fifth-floor apartment on the Upper East Side, said, "It's a fabulous idea, especially if you can't get service, but to charge for it is insulting. How much more do I have to pay to get the service required for me to use my phone?"
But although AT&T says its mini-towers will help in that kind of situation, it also says that it wants to help iPhone users who cannot get consistent signals. The company, which has been testing such devices in a few markets, plans to officially start selling this month what it calls 'MicroCells' in a few places for $150, reports New York Times.
Industry analysts feel that mini-towers, known as femtocells, are poised for spectacular growth. Shipments should grow from 571,000 this year, to 1.9 million next year, to 40 million by 2013, according to iSuppli, a market research firm.
Christina Zachariades, 28, of Manhattan who already pays $130 a month for iPhone service but cannot receive or make calls in her fifth-floor apartment on the Upper East Side, said, "It's a fabulous idea, especially if you can't get service, but to charge for it is insulting. How much more do I have to pay to get the service required for me to use my phone?"
But although AT&T says its mini-towers will help in that kind of situation, it also says that it wants to help iPhone users who cannot get consistent signals. The company, which has been testing such devices in a few markets, plans to officially start selling this month what it calls 'MicroCells' in a few places for $150, reports New York Times.
Industry analysts feel that mini-towers, known as femtocells, are poised for spectacular growth. Shipments should grow from 571,000 this year, to 1.9 million next year, to 40 million by 2013, according to iSuppli, a market research firm.
IDBI Bank to offer online payment gateway services
IDBI Bank announced that it has tied up with Venture Infotek, a transaction management firm, to unveil its internet payment gateway services.
IDBI Bank announced that it has tied up with Venture Infotek, a transaction management firm, to unveil its internet payment gateway services.Venture Infotek's 'Eazy2Pay' secures all transactions using Triple Data Encryption Standard (3DES) keys to encrypt cardholders' information and Merchant Plug-In (MPI) to facilitate 3D-secure verifications.
IDBI Bank announced that it has tied up with Venture Infotek, a transaction management firm, to unveil its internet payment gateway services.Venture Infotek's 'Eazy2Pay' secures all transactions using Triple Data Encryption Standard (3DES) keys to encrypt cardholders' information and Merchant Plug-In (MPI) to facilitate 3D-secure verifications.
CEO of Yureekah bats for KKR
Vishal Sharma,Founder & CEO,Yureekah,believes that his favorite Kolkata Knight riders have the grit and spirit.
Rising frauds in corporate India to be dealt firmly: KPMG
The overall incidence of fraud is rising in corporate India in the last two years and there is a need for Indian firms to deal with fraud risks firmly, according to the KPMG Fraud Survey Report 2010. The report also states that the financial services and consumer markets industry segments specifically, see a higher level of fraudulent activities within their industry.
Financial statement fraud emerges as a major issue for investors. An overwhelming 81 percent of the respondents of the survey perceive financial statement fraud as a major issue in India.
Financial statement fraud emerges as a major issue for investors. An overwhelming 81 percent of the respondents of the survey perceive financial statement fraud as a major issue in India.
Monday, April 5, 2010
Key points to know before investing in FDs
Over the past one year, it is witnessed that fixed deposit interest rates from nationalized banks have gone down from 8-9 percent to around 6-6.5 percent now for a period of 1-3 years.
Aseem Dhru, Managing Director and CEO of HDFC Securities, which has recently started distributing company fixed deposits, said, "With fixed deposit rates from banks coming down, investors seeking higher returns from fixed income products are investing in company fixed deposits."
Here are some key points one needs to know while investing in company fixed deposits:
Security
Company fixed deposits are unsecured. In case of bank fixed deposits, the Deposit Insurance and Credit Guarantee Corporation of India guarantees repayment of Rs.1 lakh in case of default. There is no such guarantee offered in company deposits and the safety of your deposit depends on the financial position of the company.
This means, as a depositor, you have no lien on any asset of the company, in case it goes into financial difficulties and is wound up. Your turn to get your money back would come only when secured lenders have been paid. So do not invest in unknown companies.
Risk v/s return
Today, investors could expect around 5-8 percent from income funds, depending upon whether it's an ultra liquid fund or a long-dated income fund. Schemes like the post office NSC and PPF give you a eight percent return, but are locked in for six years and 15 years, respectively.
You can check with distributors or with friends about the credentials of the promoters and their past track record. Opt for companies that pay dividends and are profit making. Avoid loss-making companies or those who do not pay dividends. If a company has made a one-off exceptional loss in a particular year, but has a good parentage and past track record, you could consider it.
Liquidity
Most companies accept fixed deposits for a period ranging from 1-5 years. Compared to mutual funds or bank fixed deposits, company fixed deposits are rather illiquid. In most cases, premature withdrawal is not allowed before completion of three months. If one wishes you wish to withdraw between the third and the sixth month, you get zero interest income.
If one wishes to withdraw between the sixth and the 12th month, he/she gets three percent less than the guaranteed return
Aseem Dhru, Managing Director and CEO of HDFC Securities, which has recently started distributing company fixed deposits, said, "With fixed deposit rates from banks coming down, investors seeking higher returns from fixed income products are investing in company fixed deposits."
Here are some key points one needs to know while investing in company fixed deposits:
Security
Company fixed deposits are unsecured. In case of bank fixed deposits, the Deposit Insurance and Credit Guarantee Corporation of India guarantees repayment of Rs.1 lakh in case of default. There is no such guarantee offered in company deposits and the safety of your deposit depends on the financial position of the company.
This means, as a depositor, you have no lien on any asset of the company, in case it goes into financial difficulties and is wound up. Your turn to get your money back would come only when secured lenders have been paid. So do not invest in unknown companies.
Risk v/s return
Today, investors could expect around 5-8 percent from income funds, depending upon whether it's an ultra liquid fund or a long-dated income fund. Schemes like the post office NSC and PPF give you a eight percent return, but are locked in for six years and 15 years, respectively.
You can check with distributors or with friends about the credentials of the promoters and their past track record. Opt for companies that pay dividends and are profit making. Avoid loss-making companies or those who do not pay dividends. If a company has made a one-off exceptional loss in a particular year, but has a good parentage and past track record, you could consider it.
Liquidity
Most companies accept fixed deposits for a period ranging from 1-5 years. Compared to mutual funds or bank fixed deposits, company fixed deposits are rather illiquid. In most cases, premature withdrawal is not allowed before completion of three months. If one wishes you wish to withdraw between the third and the sixth month, you get zero interest income.
If one wishes to withdraw between the sixth and the 12th month, he/she gets three percent less than the guaranteed return
Fujifilm launches series of digital cameras in India
FUJIFILM India has announced the launch and availability of 14 digital camera models into the Indian market. FUJIFILM has launched four new models of its 'A series' compacts (AV100, AV150, AX200 & AX250) featuring high definition (HD) image and video capture for the first time on entry-level cameras.
These are easy-to-use and are ideal for people who are investing in their first digital camera. Offering a combination of various mega pixel resolutions, Fujinon zoom lenses and LCD screen sizes, consumers will be able to choose a camera that perfectly suits their needs and budget, one that features all of FUJIFILM's advanced technologies such as Automatic Scene Recognition, Face Detection, Digital Image Stabilization, high ISO sensitivity levels, Picture Search (as per the scene mode), and Panorama Shooting Mode which allows users to stitch three photos together to create a panoramic image (perfect for wide landscapes, tall buildings or large groups of people).
FUJIFILM has also launched four sleek models of its 'J series' family cameras (JV100, JV150, JX200 & JX250) that come with sculpted and sophisticated looks, and enable users to shoot images in HD. These cameras are loaded with advanced features like razor sharp Fujinon zoom lenses, Scene Recognition Auto, Panorama Shooting Mode, Movie Mode with Sound, Picture Search etc. The Smile & Shoot Mode works with FUJIFILM's highly-acclaimed Face Detection technology to detect smiles on faces. It will not take a picture until it detects a smile. Another new feature is Blink Detection which warns users if they have captured an image with people blinking, so that they can re-shoot if necessary. The newly launched JV and JX models have a new feature - Targeting AF - which is perfect in case users need to take a picture of a moving subject and can't keep the subject in the frame. As and when Targeting AF is switched on, it tracks the subject and ensures pictures with the subject in the centre of the frame in perfect focus.
These are easy-to-use and are ideal for people who are investing in their first digital camera. Offering a combination of various mega pixel resolutions, Fujinon zoom lenses and LCD screen sizes, consumers will be able to choose a camera that perfectly suits their needs and budget, one that features all of FUJIFILM's advanced technologies such as Automatic Scene Recognition, Face Detection, Digital Image Stabilization, high ISO sensitivity levels, Picture Search (as per the scene mode), and Panorama Shooting Mode which allows users to stitch three photos together to create a panoramic image (perfect for wide landscapes, tall buildings or large groups of people).
FUJIFILM has also launched four sleek models of its 'J series' family cameras (JV100, JV150, JX200 & JX250) that come with sculpted and sophisticated looks, and enable users to shoot images in HD. These cameras are loaded with advanced features like razor sharp Fujinon zoom lenses, Scene Recognition Auto, Panorama Shooting Mode, Movie Mode with Sound, Picture Search etc. The Smile & Shoot Mode works with FUJIFILM's highly-acclaimed Face Detection technology to detect smiles on faces. It will not take a picture until it detects a smile. Another new feature is Blink Detection which warns users if they have captured an image with people blinking, so that they can re-shoot if necessary. The newly launched JV and JX models have a new feature - Targeting AF - which is perfect in case users need to take a picture of a moving subject and can't keep the subject in the frame. As and when Targeting AF is switched on, it tracks the subject and ensures pictures with the subject in the centre of the frame in perfect focus.
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