- Infosys to shift focus from IT Services to Software Products
- India woos Gulf Investors using Road shows in 5 Countries
- Metalica Fan Dimple Yadav elected as MP from Kannauj
- Girl escapes Rape Attempt by jumping off First Floor
- Kundankulam Nuclear Plant marches one step ahead
- Kerala CM kick starts first Construction project of Smart City Kochi
- Swami Nithyananda may lose control of his Ashram Dhyanapeetham,
- Airport Metro Express Counters to sell Delhi University Forms
- Kargil to be developed as a major Tourist Destination
- IIT Delhi and IIT Bombay also to separate out from IIT JEE
Posted: 09 Jun 2012 05:41 PM PDT
Infosys Chairman K V Kamath says that Infosys is on a process of revamp and course correction in order to align itself to the changing Market Conditions. Now it would focus on Products, a step its rival TCS has been implementing for long.
“We have embarked on a course correction as the technology industry is going through a paradigm shift to products and platforms from traditional services business,” Kamath told reporters.
Noting that course correction would take a longer time to yield results, he said the global software major was bracing up to face the emerging challenges in the technology space, economy and volatile currency markets.
“Course correction cannot be done in eight months. It is a process, which will take time to succeed. Though last fiscal (2011-12) was a volatile year for technology business, we faced the challenges and fared better,” Kamath said on the margins of the company’s 31st Annual General Meeting (AGM) here at Mumbai.
It has also rumors that Infosys planning to set up a subsidiary company focused on IT products, platforms and intellectual property-driven solutions..
The paradigm shift in technology business had led to the blue chip company’s revenue share from software services such as application development drop to 40 percent from 90 percent earlier.
“We are responding to the challenges by aligning our business strategies with the changing requirements of our global clients. Products and platforms are the new wave we are focusing on to move up the value chain in a competitive environment,” Kamath admitted.
Sharing the concerns of investors on the company’s lower revenue forecast for current fiscal (2012-13), he said the management was confident of turning the tide with high quality growth translating into higher revenue productivity.
On complaints from institutional investors, fund managers and analysts that the company was not aggressive in growing business unlike its peers such as TCS, Wipro and Cognizant, Kamath said the executive management drew the business plans and the board acted like a sounding board for executing them.
“A non-executive chairman is a hands-off chairman who has a particular role of governance,” Kamath observed.
Asked why the company had not made any acquisition in last fiscal, he said a buyout does not happen overnight and the process requires careful assessment of its strategic fit, return and business considerations.
“Acquisition has to be meaningful so that we don’t waste shareholders’ money. I can assure them (shareholders) that we are looking for right opportunities to grow organically and inorganically,” Kamath added.
Posted: 09 Jun 2012 04:29 PM PDT
A Road Show to lure investors from Gulf begun in Saudi Arabia, United Arab Emirates, Kuwait, Bahrain and Oman. It would highlight India’s growth Potential and the benefits of Investing here.
The marketing campaign takes off at a time when the India growth story has taken a beating following softening of the growth rate to 5.3 percent — the lowest in nine years– from a high of nine percent prior to the 2008 global financial crisis.
“A lot of people are ill-informed about India’s potential. We want to tell investors, look, it is a robust economy with high savings, demand and investment opportunities,” R. Gopalan, economic affairs secretary, told reporters earlier this week.
During the June 10-15 road shows, a delegation of officials from the finance ministry, the Reserve Bank of India, the Security and Exchange Board of India and stock exchanges would seek investment through corporate bonds and debt funds, especially in the country’s infrastructure sector.
India aims to invest up to $1 trillion in infrastructure over the five years through March 2017, of which it hopes to attract half from the private sector.
Following the finance ministry’s directive May 29, market regulator SEBI this week eased norms to attract investments from qualified foreign investors (QFIs) from the six Gulf and 27 European Commission countries in mutual funds, stocks and corporate bonds.
“The perception (about India) can be corrected if you answer their (investors’) questions,” said Gopalan, who leads the delegation.
Finance ministry officials said overseas individuals could invest between $80 billion and $90 billion in India over the next two years.
“Given the talk of quantitative easing and other steps planned in the US and Europe, it is a good time to sell India as a good destination. We want to have the first mover advantage,” said Gopalan.
Road shows will also be held in major cities like Singapore, Hong Kong and Tokyo and then in Europe and the US, according to Thomas Mathew, joint secretary in charge of capital markets at the finance ministry.
Posted: 09 Jun 2012 03:14 PM PDT
Dimple Yadav, the newly elected MP from Kannauj, never favoured Politics as a career. But on Saturday, life came a full circle as she was elected unopposed as Lok Sabha member from Kannauj, a seat her chief minister husband held thrice.
For in the last 13-odd years, she not only fell for a politician, was married into a political family, but is now herself an MP. Once defeated in her first attempt at Firozabad, two years back, Dimple has won the Kannauj by-poll unopposed.
A die-hard Metallica fan, a serious painter and one who rode horses happily, Dimple’s latest innings with politics is at the behest of husband Akhilesh Yadav, whom she lovingly refers to as AD – Akhilesh Dada.
Mother of three – Aditi, Arjun and Tina (twins), Dimple, close friends say, was always a shy, reclusive type who was happy with the little private space she had with her family, enjoying late night outs at coffee shops and extended holidays abroad.
Second of the three daughters of a retired Indian Army Colonel S.C. Rawat, native of Uttarakhand, who had the best of life during her father’s postings at Bhatinda, Pune, Lucknow, Andaman and Nicobar Islands, Dimple adjusted quickly to the ‘marriage’ paraphernalia that a rustic Yadav family demanded and commanded.
She was at ease with the long vermillion marking on her ‘maang’ or hair parting, sari and palloo (veil on her head) that was demanded by traditions of her Etawah based in-laws soon after their star-studded November 1999 marriage at Sahara Shahr in Lucknow.
Insiders say politics meant very little to her as her husband too was happy as a first time MP and they had their “own private space” that came with public life. But soon everything changed in 2009 when she was pitted against cine star-turned-politician Raj Babbar from Firozabad in a Lok Sabha by-poll. Reluctant initially, the Thakur girl soon braced up for the ‘public phase’ of her life and leaped into the political hurly burly with ease and aggression.
People witness to her 2009 Firozabad campaign recollect her as a coy but planned politician who struck a chord with people and the masses almost effortlessly. Though she did not make it to the Lok Sabha then, she began to dabble with politics in the form of conversations and debates within the family, a close aide of Akhilesh says.
During the gruelling campaign her husband undertook in the run-up to the crucial state assembly polls earlier this year, Dimple kept track of news happenings, statements of politicians and would communicate them to Akhilesh. Talking to IANS, the Uttar Pradesh chief minister admitted that his wife, in his absence, would operate his Facebook account and respond to comments. Though largely happy within her small nest, close aides say, Dimple simply dittoes whatever her husband does.
Since Akhilesh Yadav took over as the chief minister of Uttar Pradesh in March, she has been a patient spouse and has made two public appearances with him and has floored the people who came in her contact. Aishwarya Parashar, an 11-year-old student from Lucknow, whom she met at a Women’s Award ceremony recently recalls Dimple as a very “nice auntie”. “She was very sweet to talk to, she even gave me her personal number,” the girl told IANS. During another function, Dimple floored singer Usha Utthup who admitted that the “girl was very modest and well-mannered”.
In private conversations, Dimple has often recounted that as a young girl she always dreamed of being in some ‘big company’ and work for a corporate group. Saturday’s unopposed win has ensured that she was indeed in ‘big company’ – in the Lok Sabha.
Posted: 09 Jun 2012 02:14 PM PDT
A Brave Girl in Lucknow escaped attempts of Rape when she jumped off from First Floor. She although injured, saved herself from getting raped. She was admitted to hospital with injuries.
She was was kidnapped by two motorcycle-borne men who tried to rape her at a garage. She however managed to flee and in the way she had to jump off the Floor.
The incident took place late Friday in Telibagh area.
The girl, a resident of Devikheda area on the outskirts of the city, told the police she was abducted by Monu and Amit when she stepped out of her house Friday for going to toilet.
Her abductors drove her to a motor garage in Telibagh area and took her to its first floor, from where she jumped and escaped, according to police.
Some passersby took her to hospital from where she informed her family. Police have recorded her statement.
Posted: 09 Jun 2012 01:12 PM PDT
Kudankulam Nuclear Plant is one step ahead in its path to get commissioned. A Safety drill was organized as part of off-site emergency exercise at Nakkanery village, 7 km away from Plant
According to a statement issued by Tirunelveli district collector R. Selvaraj, the Nuclear Power Corporation of India Ltd. (NPCIL), which is building the KNPP, and the district administration carried out the off-site emergency exercise as per regulatory requirement and biennial programme.
KNPP shift in-charge engineer declared a plant emergency in the morning, following which the site director reached the plant and declared start of the emergency exercise, the statement said.
Alert messages flashed to officials of the NPCIL, the Atomic Energy Regulatory Board (AERB), the Department of Atomic Energy (DAE), the district collector and other district officials.
Based on the inputs given by the Environmental Survey Lab team, the district collector declared off-site emergency and carried out measures detailed in the emergency plan.
Nakkanery village, located about seven km from the plant, was selected as locally affected area for the purpose of the exercise.
However, S.P. Udayakumar, coordinator of the People’s Movement Against Nuclear Energy (PMANE), said: “The off-site emergency drill is nothing but sham and deceptive.”
The district administration should explain why they did not clearly announce to the people about the disaster management exercise and why the media was not invited, he told IANS over phone from Idinthakarai village near the project.
Reacting to this, R.S. Sundar, site director of the KNPP, said: “The district administration was in communication with the people of Nakkanery village.”
He said there was no particular requirement on the selection of area for holding the off-site emergency mock exercise. “Based on the wind direction, we select the location, and here in this mock drill it was decided Nakkanery village was apt one.”
He said a media statement had been issued by the district administration post event.
Sundar said the drill consisted of three parts — urging people to stay indoors, distribution of iodine tablets, and evacuation.
“All these three activities were done successfully today (Saturday). Though it was a mock drill, all the emergency requirements were there,” he said.
India’s atomic power plant operator NPCIL is building two 1,000 MW reactors – supplied by Russia – in Kudankulam in Tirunelveli, around 650 km from here.
Posted: 09 Jun 2012 12:21 PM PDT
Kerala went a concrete step ahead in IT Sector of India by launching the first Project of most awaited Smart City in Kochi.
On Saturday, Chief Minister Oman Chandy inaugurated a state-of-the-art 10,000 sq ft sales pavilion within its premises besides laying the foundation stone of the first phase of a 3.5 million square feet building.
Smart City, a Knowledge based industrial township, is a Rs. 5000 crore Venture and is expected to provide employment to 90,000 IT Professionals. On completion, SmartCity Kochi would be one of the largest IT parks of India.
The whole project is developed by Smart City (Kochi) Infrastructure Pvt. Ltd which is a joint venture company formed to develop the Kochi Smart City project. Government of Kerala (16% share), TECOM Investments (84% share), a subsidiary of Dubai Holding are the main investors of the company.
Ministry of Commerce have granted a single SEZ status for entire 246 acres of land on Dec 2011. There were few issues in getting a single SEZ status as the land is separated by a waterbody. Approval for the project as a single SEZ was important to avail the benefits of a multi-purpose SEZ.
“This pavilion is late by three months… They have assured us that first phase of the 3.5 million square feet building would be ready in 18 months,” said Chandy.
In 2004, Chandy had first announced this IT project, which is expected to provide jobs to 90,000 professionals. It was allegedly stuck after the previous Left government re-wrote the major agreements that was initially planned.
Abdul Lateef Al-Mullah, the Group CEO who represents the Dubai company said: “We have been receiving a lot of enquiries and partners that are interested to invest in the state of Kerala. These enquiries are not just locally or nationally but globally. Kerala is on every company’s map right now and such companies will play a very important role in the economy of Kerala.”
Posted: 09 Jun 2012 11:51 AM PDT
“The government is thinking of taking control of the ashram and appoint an administrator in view of allegations that objectionable activities are taking place there,” Law Minister S. Suresh Kumar told reporters at Dharwad, about 400 km north of Bangalore.
The ashram is situated on a 29-acre plot in Bidadi, about 35 km from Bangalore.
Nityananda, who is facing several cases including rape, is caught in a fresh row after a Kannada TV channel began telecasting, for the last three days, claims by several women that they had been sexually exploited by him.
Two press meets called by the controversial religious guru’s disciples Thursday and Friday ended in fracas. Cases have been registered against some media personnel and a few disciples after they lodged complaints of assault against one another.
On Friday, activists of a Kannada group tried to barge into the ashram resulting in clashes between them and the inmates.
Police have banned assembly of five or more people near the complex till further orders.
Kannada groups took out procession in Bangalore and several places across the state, demanding immediate closure of the ashram and arrest of Nityananda.
The Congress and Janata Dal-Secular are also demanding action to end the alleged exploitation of women in the name of spiritual activities.
Nityananada had gone into hiding in Solan (Himachal Pradesh) for about a month in March-April 2010 after a Tamil TV channel aired a video showing him allegedly committing sexual acts. After being picked by Karnataka Police from Solan, he was in jail in Bangalore for seven weeks and has been out on bail since June 2010.
Posted: 09 Jun 2012 11:05 AM PDT
Forms for the Undergraduate Courses for session 2012-13 at Delhi University would be made available at Airport Metro Express’s postal services counter at the New Delhi station
“For the first time, we are issuing Delhi University admission forms. We hope this facility helps students,” said spokesperson of Reliance Infrastructure, which operates the Airprot Metro Express line. Commuters as well as non-commuters can purchase the forms between 10 a.m. and 4 p.m.
Last Date to Submit Application forms: June 18
The forms can also be filled up and submitted at the same counter.
“Students can avoid standing in long queues in this heat, particularly those coming from far-off areas. They can complete the application process in a day,” the spokesperson said.
The 23-km Airport Metro Express with six stations connects New Delhi Railway Station with Indira Gandhi International Airport.
Apart from this, one can easily apply online for any courses in a hassle free manner by visiting this Website
Posted: 09 Jun 2012 10:00 AM PDT
Jammu Kashmir wants to develop Kargil as a major Tourist and Sports Destination. CM Omar Abdullah has started batting for it. Kargil was one of the major location where the Indo-Pak War of 1999 was Fought.
“The names of Kargil and Drass are more associated with the limited war of 1999 while Drass is also known for being the second coldest place in the world. Now, we are trying to show the world its beauty, picturesque view, hospitality and polo. For doing so, it has to be advertised on a large scale, which will attract domestic and international tourists,” said Abdullah after a polo tournament in Kargil Saturday morning.
Abdullah noted that Jammu and Kashmir had a rich history of polo. “The game has been popular in the Kashmir Valley and the Ladakh region since long,” he said.
The chief minister said that tourism and sports activities would boost the economy and nurture the talent of Jammu and Kashmir in this field.
He directed officials to take immediate steps in this regard and send him a report on this.
Posted: 09 Jun 2012 09:55 AM PDT
A member of the IIT Delhi senate, who did not wish to be named, told IANS that IIT Delhi and IIT Bombay — possibly other IITs also — may soon follow IIT Kanpur’s example.
IIT Kanpur yesterday opted out of IITJEE 2013 and declared to conduct its own Entrance Examination.
“There is a common sentiment, and most IITs are against the new pattern,” the member said.
“This was virtually forced on the senates by the IIT council,” he said about the common entrance test.
In a clear revolt against the human resource development ministry’s move for a common engineering entrance test, IIT Kanpur Friday decided to hold its own entrance test from 2013.
Upset with the ministry’s decision to merge IIT Joint Entrance Exam (IIT-JEE) with the All India Engineering Entrance Examination (AIEEE), the 210-member senate of IIT Kanpur passed a resolution rejecting the new format.
Even though there is no official reaction from the HRD ministry, a senior official said the senate could not overrule the IIT council.
IIT Delhi Alumni Association (IITDAA), which has been spearheading the battle against the new format, is set to meet Saturday evening to decide on the future strategy.
“What IIT Kanpur did is the right thing… the senates have been overruled in taking the decision,” IITDAA president Somnath Bharti said.
He questioned the government decision, saying it would adversely affect the quality of the IITs.
“The senates need to be given more autonomy. The IITs have to compete with international engineering institutes like the MIT (Massachusetts Institute of Technology). For the students who cannot afford going to international institutions, IITs are the only option,” he said.
“Instead of giving more facilities to the IITs so that they can compete internationally, the government is pulling them down,” he said.
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