Wednesday, June 27, 2007

Worlds Cheapest Car 2450$

June 27 (Reuters) - Nearly 50 years ago, France's Renault and India's Mahindra & Mahindra Ltd. planned to make a 7,000 rupee ($172) car for India, but were frustrated by local rules restricting foreign investment.

A lot has changed in the past half century, and more than a dozen car makers are now circling the global auto industry's new battleground -- to make cheap, small cars for the world's big emerging economies.

India's market for cars alone should nearly double to 2 million by 2010.

Rising incomes and new model launches are boosting sales of bigger sedans and premium cars, but manufacturers' focus is on the lower end of the market that accounts for about two-thirds of annual unit sales.

Stirred by Tata Motors Ltd.'s plans to launch the world's cheapest car, at just 100,000 rupees ($2,450), next year, Renault/Nissan <7201.T> and Mahindra are mulling a $3,000 model.

Toyota Motor Corp. <7203.T>, Honda Motor Co. <7267.T>, Fiat and Volkswagen AG are also looking to build low-cost cars to compete in fast-growth emerging markets from India and China to Russia.

But, despite technology advances, cost savings and shared platforms, there is precious little margin in cheap, no-frills models, so car makers need volume sales.

Analysts say Tata Motors will have an edge, but warn that making it a viable model will be a tough challenge.

"It was an idea the Tatas had that is close to becoming a reality, whereas for the others it is still only a concept," said Asit Bhandarkar, fund manager at brokerage JM Financial. "But whether they can also make a profit is anyone's guess."

NEW MARKET

Indian roads were revolutionised more than two decades ago by the arrival of a small car, the mini Maruti 800 from Suzuki Motor Corp.'s <7269.T> unit Maruti Udyog Ltd. , that was both affordable and appealing compared to the boxy, utilitarian Fiats and Hindustan Motors' Ambassador cars available then.

Maruti, which has more than half the local car market, has since launched new entry-level models such as the Alto, but still sold over 79,000 mini 800s in the year to March. The 800 sells for about $4,800.

Some analysts believe Maruti will cut prices of the 800 or reposition it, and rival Hyundai Motor Co. <005380.KS>, India's second-biggest car maker, will also take on Tata Motors.

Jim Press, a senior managing director at Toyota, has said a smarter option may be to buy a used Toyota for around $2,000.

There is a tax benefit to small car makers: India cut a tax on small cars to 16 percent from 24 percent last year, helping sales of models up to 4 metres long and with up to a 1.2 litre petrol or 1.5 litre diesel engine.

Tata Motors chairman, Ratan Tata, reckons the Indian market for his car alone could be 1 million units a year at a "mature stage" and could be extended to the rest of Asia and Africa.

Only 8 in every 1,000 Indians has a car, compared with 300-500 in many Western nations.

Tata has said its low-cost car will be a 4-door model with a 600cc rear engine for both petrol and diesel versions. Venture partner Fiat will advise on engineering and development, and Tata may use satellite units owned by local entrepreneurs for assembly. Analysts expect initial output of 100,000-250,000 units.

Some analysts expect a car priced as low as the Tata model could target up to a fifth of India's traditional two-wheeler market that hit more than 7 million units last year.

"There's an overwhelming desire to own a car, and upgrades from two-wheelers will be quicker if there are more small car offerings," said Mohit Arora at J.D. Power Asia Pacific.

The research firm estimates upgraders make up 27 percent of car buyers in India, with repurchasers accounting for two-thirds.

Indian motorbike maker Bajaj Auto Ltd. is also experimenting with a small car, though it says this won't be aimed at the cheaper end of that market.

THIN MARGINS

Tata would have to sell more than 41,000 cars a month to give it an operating margin of 8 percent at a retail price of at least 125,000 rupees, estimates Enam Securities -- versus margins of 9-14 percent on small cars priced at least double that.

Tata Motors sold 144,690 Indica cars in the year to March.

"They are looking to develop an entirely new market and even if margins are thin, you can make money on volumes and by selling a package of finance, servicing, spares, etc," said Pradeep Saxena, vice president of research firm TNS Automotive.

In addition to volatile fuel and component costs, there are concerns about meeting safety and environment standards.

Tata Motors has said it is exploring the use of re-engineered plastic from General Electric and modern adhesives instead of welding, prompting questions from rivals including the Suzuki chief.

Toyota has said it would be difficult to offer a cheap enough car that would satisfy its level of quality and reliability.

But analysts insist a low-cost car has its place in India.

"A cheap car will sell well," said JM Financial's Bhandarkar.

"Whether it's a Tata or a Maruti or any other brand is what remains to be seen."



Skoda plans to enter small car market... Can they beat Nissan's 3000$ car?

SkodaIndia, a fully-owned subsidiary of Volkswagen Group’s SkodaAuto of Czech Republic, on 27 June revealed the company’s plan to launch Skoda Fabia, its first small car in the Indian market.
“We are planning to launch the car by the end of this year. Fabia is very well accepted globally and with our experience in the car business, we are confident of receiving a similar response from the Indian customers as well,” Skoda India Managing Director (Commercial) Karsten Bogun said.
Bogun was talking to reporters here after the opening of the company’s new dealership in Vadodara and Ahmedabad.
“Skoda India is glad to bring two new dealership to Gujarat, the most industrialised state in India today. We do believe that these dealership will play a vital role in increasing our costumers in Gujarat and will also help us to achieve a bigger market here,” he said.
He said the company plans to expand its dealer network to 58 across the country by end of this year.
In the last five years SkodaIndia has sold over 43,000 units. This year the company has set a sale target of 17,000 units.
The company has a plant in Aurangabad district in Maharashtra, spread across 300,000 square meters.

Nissan's Ghosn Says Mahindra Is Likely India Car Partner

Nissan Motor Co. Chief Executive Carlos Ghosn said Wednesday that Mahindra & Mahindra Ltd. will likely be its local partner for the Japanese company's low-price car project for the Indian market.

Speaking at a roundtable meeting with the media in Bangkok, Mr. Ghosn said Nissan is seriously studying the Indian project and will have sufficient information to make a decision on whether to start making a budget car when one of its main rivals in India -- Tata Motors Ltd. -- launches its own $3,000 low-cost car next year.

"Although we haven't finalized any deal yet, it's rather obvious that Mahindra is our Indian national partner," Mr. Ghosn said in response to a question on who might be Nissan's local partner for the budget car project. "We'll be ready when the (Tata) car comes to the market as we'll have enough information. If it makes sense we'll be ready to start (production of our own model)."

Small compact cars make up more than two-thirds of the Indian market. Analysts expect passenger vehicle sales in India to nearly double to two million units a year by 2010.

Mr. Ghosn also said Nissan's investment in new technologies such as lithium-ion batteries will help it narrow the gap or even put it ahead of competitors down the road, the Associated Press reported.

Quotes WSJ

Related Post

Nissan to build 3000$ car

Tuesday, June 26, 2007

Indian ITeS exports cross $31 bn in 2006-07

The IT boom continues to yield strong growth figures for the industry. The software and ITeS exports from India are expected to exceed $31.3 billion during the year 2006-07, up by 32% compared to the previous year. Also, the software and ITeS sector’s contribution to the gross domestic product (GDP) is expected to rise to 5.4% in 2006-07, up from 4.8% in 2005-06.

According the 2006-07 annual report of the ministry of communications and information technology, while the US and the UK continue to be the dominant markets for IT exports, Indian IT firms are also keenly exploring new geographies. Today exports to the US and UK make up 67% and 17% of the total exports, respectively. Banking, financial services and insurance and technology (high tech and telecom) are the main IT verticals accounting for nearly 60% of total exports. This is followed by manufacturing retail, media, utilities, healthcare and transportation that are rapidly growing verticals, says the report.

Over the last six years, India’s share in global sourcing is estimated to have grown from 62% to 65% for IT and from 39% to 45% for BPOs. The report attributes the fast growth of the IT-BPO segment to the leading demand for global sourcing and the evolving socio-political attitudes.

When it comes to employing professionals, the industry has brighter numbers. The total number of IT and the ITeS-BPO professionals employed in India is estimated to have grown from 2,84,000 in 1999-2000 to 1,6,30,000 in 2005-06, growing by over 3,40,000 in the last year alone. Indian IT-ITeS is estimated to have helped create an additional three million job opportunities through indirect and induced employment. Indirect employment includes expenditure on vendors, including telecom, power, construction and IT transportation.

The domestic IT market also seems to be picking up. The report highlights that the total size of the domestic market is expected to cross Rs 37,800 crore in 2006-07, growing by 28% since 2005-06. Now, Indian firms are in neck-to-neck pace with the MNCs, says the report.

SOURCE:ECONOMICTIMES.COM

Hyundai i30: coming soon

Hyundai has confirmed pricing and specifications for its i30 hatch, a Golf/Focus-sized model which goes on sale in the UK 1st September.

The i30 - first of a new family of Hyundais to follow a new naming strategy, with i10 and i70 models promised next - replaces both the Accent and the Elantra. It shares much of its underpinnings with the Kia Cee'd, and will come with 1.4 and 1.6-litre petrol engines, and 1.6 and 2.0-litre CRDi diesels. Estate versions, to be called i30 CW, follow next year.

Pricing starts from £10,995 (1.4 Comfort) and all models will have stability control, traction control, full-length curtain airbags, seatbelt pretensioners and active front head restraints, front fog lights, remote locking, heated door mirrors, air conditioning, front and rear electric windows, 15-inch alloy wheels, tinted glass, a CD player and audio system with MP3/iPod inputs, and steering wheel-mounted audio controls.

Saturday, June 23, 2007

End of the tunnel visible for US economy: IMF

The US economic activity should pick up for the rest of this year and into 2008 as the drag from a decline in the housing market dissipates, the International Monetary Fund has indicated.

But the IMF warned that growth is uncomfortably close to the 2 per cent "stall speed" associated with past recessions even if other accompanying factors _rising unemployment and high interest rates - are not evident.

"We, like the US authorities, expect a favorable outcome for US growth," said John Lipsky, the IMF's leading deputy director, presenting the annual snapshot of the US economy provided for under the rules of the 185-nation lending institution.

"We expect to see a gradual reacceleration towards a sustained pace of around 3 per cent by 2008," he said.
Despite a subpar first quarter, the U.S economy should grow 2 percent this year, the IMF said, and 2.75 per cent in 2008. The 2007 forecast is slightly below the 2.2 percent estimate the IMF issued in its World Economic Outlook two months ago.

The IMF said that fortunately for the global economy, the recent cooling of U.S. activity from the robust pace of recent years has coincided with a pick up in growth in Europe and Asia.

"We share the U.S. authorities' view that the most likely scenario is a soft landing as growth recovers and inflation falls, although both are subject to risks," the IMF said.

Lipsky said among the risks are rising oil and commodity prices.

The IMF said challenges facing the U.S. economy include raising domestic savings and lowering the trade deficit while resisting protectionism and tackling the longer-term fiscal difficulties posed by rising spending for the government pension plan and health care for the elderly.

"The central fiscal challenge is the projected unsustainable rise of entitlement spending over time," Lipsky said.

"This is going to overwhelm in quantitative terms any other fiscal challenge."

The IMF applauded the Federal Reserve's decision one year ago to stop raising interest rates. The current 5.25 percent interest rate "appears consistent with a soft landing," the IMF said.

The Fed meets next week and is expected to make no change in interest rates.


Source: ECONOMICTIMES.COM






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Friday, June 22, 2007

Serlite raises over 2 billion dollar in US

Vedanta group flagship Sterlite Industries on Friday said it has raised over two billion dollar (about Rs 8,215 crore) through an initial public offering in the US, including the over allotment option.
The American Depository Shares (ADSs) were priced at 13.44 dollar each, resulting in gross proceeds of 2,016 million dollar from the offering, the Anil Agarwal-led metals and mining company said in a communique to the Bombay Stock Exchange (BSE).
The underwriters, joint global coordinators and bookrunners for the American Depository Shares (ADSs) offering exercised over allotment option to purchase additional 1.96 crore equity shares.
With the exercise of the over-allotment option, the total number of ADSs issued by the company in the offering increased to 15 crore and this would represent around 21.2 per cent interest in the company.
The company on June 19 said it has raised 1.75 billion dollars (about Rs 7,000 crore) through the initial public offering in the US.
The underwriters and joint global coordinators and bookrunners for the ADS offering were -- Merrill Lynch, Pierce, Fenner and Smith Incorporated, Morgan Stanley and Co International Plc and Citigroup Global Markets Inc.
Sterlite would use the funds for acquisitions, increasing stake in subsidiaries and setting up a power plant in Orissa. The company was also planning to acquire the remaining 29.5 per cent stake of government in Hindustan Zinc.
Shares of Sterlite Industries closed at Rs 582.90, down 2.48 per cent on BSE.








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Thursday, June 21, 2007

China overtakes US as worlds top CO2 emitter AS Experts contest CO2 emmisions report

China has overtaken the US as the world's top producer of carbon dioxide emissions -- the biggest man-made contributor to global warming -- based on the latest widely accepted energy consumption data, a Dutch research group says.

A report released on Tuesday by the Netherlands Environmental Assessment Agency said China overtook the US in carbon dioxide emissions by about 7.5 percent last year. While China was 2 percent below the US in 2005, voracious coal consumption and cement production caused the numbers to rise rapidly, the group said.

"It's an expression of their fast industrial production activities and their fast development," Jos G.J. Olivier, the agency's senior scientist who compiled the figures, said on Wednesday.

The study said China, which relies on coal for two-thirds of its energy needs and makes 44 percent of the world's cement, produced 6.2 billion metric tons of carbon dioxide in 2006. In comparison, the US, which gets half of its electricity from coal, produced 5.8 billion metric tons of CO2, it said.

"It is meaningless to compare China's national greenhouse gas (GHG) emissions with those of other countries, as China has the world's largest population," Cui Cheng, deputy director of the energy research institute at the National Development and Reform Commission.

source

Toyota to delay launch of next Prius hybrid

Toyota Motor Corp has decided to postpone the launch of the third-generation Prius hybrid model by half a year to the spring of 2009, industrial daily Nikkan Kogyo Shimbun said on Friday.

The world's biggest automaker has not officially announced the timing of the launch, but a consensus had built among industry watchers that the popular gasoline-electric car would be remodelled by late 2008.

The Nikkan Kogyo said Toyota decided to take more time to ensure quality after it decided to forgo replacing the nickel-metal hydride battery used in the hybrid system with a lithium-ion battery for the first version of the new model.

Toyota and battery partner Matsushita Electric Industrial Co are developing a lithium-ion battery that many expected would power the motor in the next Prius. The paper had said last month that those plans were also delayed due to safety concerns.

A Toyota spokesman declined to confirm the delay of the Prius launch, saying it was not possible to move back a plan whose timing had not been set.

"Our policy is to roll out any model when all the conditions are in place," he said.

The first Prius debuted in 1997 as the world's first mass-market hybrid car, and was vastly improved for the second generation launched in late 2003.

By far the best-selling hybrid car on the road today, the Prius has almost single-handedly boosted Toyota's image as a "green" carmaker, also helping drive sales of other cars.

Toyota is boosting production of the Prius by 40 percent this year to 280,000 units, although margins on the car are believed to be thin due to the high cost of the hybrid system.

Toyota sold 186,000 units of the Prius in 2006, and 313,000 hybrid vehicles in total.

Honda considers making hybrid cars in China

Japan's Honda Motor is mulling making hybrid cars in China, where regulators want more energy efficient vehicles to help combat the nation's choking pollution problem, state media said on Friday.

Honda plans to test demand in China for its Civic hybrid cars within three months, the Shanghai Daily reported, citing a deputy manager of Honda's China joint venture, Dongfeng Honda Automobile.

"It would be a trial operation to test the market response before localized production begins," the official was quoted as saying. Toyota, Honda's larger rival in Japan, became the first foreign car maker to produce hybrid autos in China with its Prius model in late 2005.

The make is sold at 288,000 yuan to 302,000 yuan (37,400- 39,200 dollars), and annual sales are expected to hit 3,000 this year. "Our hybrid Civic will have a price advantage against Toyota's Prius," the Dongfeng official said, although he could not provide a specific price.

"The market could become better for mass production if the government introduces more favourable tax policies to reduce driving costs for hybrid owners." Hybrid vehicles, which deliver power by switching between a gasoline (petrol) engine and an electric motor, can save up to 30 per cent on fuel costs but they cost 15 to 20 per cent more on average than conventional models.

Honda Motor sold a record 323,469 automobiles in China in 2006, up 25.9 per cent from the previous year. But the company has acknowledged that competition is fierce in China as more automakers look to sell cars in what is emerging as the world's second largest auto market after the United States.

Japanese Automakers move production bases to Asia

Japanese automakers are increasing exports from production bases in other Asian countries to take advantage of better worker skills and tariff-free arrangements, the Nikkei reported, without citing sources.

Asia replaced North America as the largest overseas production base for Japanese car firms in 2006 with output reaching 4.13 mln vehicles, the business daily said.

Honda Motor Co Ltd is boosting this year's exports from Thailand to Australia and New Zealand by 40 pct, or 47,000 units, while Nissan Motor Co Ltd (nasdaq: NSANY - news - people ) is doubling exports of its Tiida subcompact from Thailand to Australia to 10,000, the Nikkei said.

Last year, Toyota Motor Corp exported 100,000 IMVs (Innovative International Multi-purpose Vehicles) to more than 90 countries from Thailand and it will step up exports from this year.

Suzuki Motor Corp plans to triple output capacity to 300,000 vehicles a year at its second Indian assembly plant in 2008. Of the total, half will be shipped to Europe and the Middle East, the Nikkei said.

source: Forbes.com

Related:
Nissan to build 3000$ car
Skoda,Audi Spike Volkswagen sales







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Mitsubishi Motors to launch 100% ETHANOL CAR

M'bishi Motors to launch 100% ethanol car

Jun. 21 TOKYO, Japan
Mitsubishi Motors Corp. said on June 21 it will roll out the Pajero TR4 Flex, its first vehicle to run completely on ethanol, in Brazil in July, in an effort to establish a stronger presence in the fast-growing alternative fuel car market. The four-wheel-drive vehicle powered by a 2-liter 16-valve engine can run on any mixture of gasoline and ethanol, the Japanese automaker said. (Kyodo)


E85(85% ethanol and 15% gasoline) is cheaper than regular unleaded gasoline. King's station near the University at Albany recently retailed E85 for $2.599 a gallon versus $3.149 for regular unleaded. But since ethanol has less energy than gasoline, fuel economy drops 10 to 15 percent when cars run on E85.

E100(100% ethanol) should work out much much cheaper, we can bet on Mitsubishi to improve on the fuel economy as well.

So i am looking forward to driving these soon! Are you?

Related:
Nissan to build 3000$ car
Skoda,Audi Spike Volkswagen sales







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Skoda,Audi Spike Volkswagen sales

Volkswagen AG, Europe's biggest automaker by sales, said Thursday that its new car sales rose 7.6 percent in the first five months of the year to 2.5 million amid rising demand in Europe and Asia.

The Wolfsburg-based company said sales of its VW-branded cars rose 7.1 percent to 1.5 million in the January-May period versus a year ago, while commercial vehicle sales rose 9 percent to 191,000.

The company's Skoda brand reported a 14 percent increase in sales to 255,000, while sales of its luxury Audi AG unit rose 9.6 percent with 420,000 models sold.

But sales by its Spanish unit, Seat, fell 1.6 percent to 180,000 from the first five months of 2006.

Sales growth was strong in Europe, where sales rose 2.9 percent to 1.58 million vehicles, and in Asia, where sales rose 20 percent to 414,000 cars.

Sales in South America and South Africa also showed gains, with deliveries up 24 percent, while in North America, the VW and Audi brands saw a 1.8 percent increase with 215,000 cars sold.

Shares of Volkswagen slipped nearly 1 percent to 114.19 euros ($153.32) in Frankfurt







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One more reason to shop at Walmart

Wal-Mart said yesterday that it would rapidly expand the financial services offered in its vast network of stores, extending the reach of its retailing empire into its shoppers’ wallets and the traditional turf of the American banking industry.

I like this idea for one reason, we can now go shop and bank at one place.Men generally hate shopping and now they seem to have found one reason to hit shops :)


Much of what Wal-Mart announced yesterday will be directed at consumers who do not use banks. Wal-Mart says, for example, that 20 percent of its customers — about 27 million people — do not have checking accounts. The so-called Wal-Mart Money Card, to be issued with GE Money, a division of General Electric, would allow customers to transfer their paychecks directly onto their cards and make purchases at any retailer that accepts Visa cards. It will also allow them to check their balances online or on mobile phone, pay certain bills or withdraw cash from A.T.M.’s.

The prepaid debit card will initially cost $8.95, and comes with a $4.95 monthly maintenance fee. Cash can be loaded on the card free by cashing a payroll or government check at Wal-Mart or having the money directly deposited; otherwise, cardholders must pay $4.64 to reload it.The prepaid card which currently offer check cashing, bill paying and money order services — into at least 1,000 stores, up from 225 now.

So what next for Walmart ?

The moves are seen as a precursor to even wider offerings, like mortgages and home equity loans, which could turn Wal-Mart into a significant force in the banking world. Jane J. Thompson, the president of Wal-Mart financial services, called the prepaid cards and money center services “foundational products” that the retailer would build upon. “Our concept is to go up the credit ladder of financial services,” she said in an interview







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The National Highway Traffic Safety Administration (NHTSA) has expanded its probe into engine compartment fires in some General Motors cars

The National Highway Traffic Safety Administration (NHTSA) has expanded its probe into engine compartment fires in some General Motors cars with supercharged engines

The investigation began in January by studying fires in 1999-2002 Pontiac Grand Prix GTP vehicles equipped with the transverse-mounted L67 supercharged version of the GM 3800 Series II V6 engine, the NHTSA noted on its Web site this week. Now it has extended the probe to similarly equipped Buick Park Avenue, Regal and Riviera; Oldsmobile LSS; and Pontiac Bonneville models from 1999-2002. NHTSA said it is aware of 180 complaints on the vehicles that "allege non-crash-related fires originating in the engine compartment while driving or after the vehicle is parked and the ignition switched off."

The fire incident rate among the named vehicles is "significantly higher" than GM vehicles that use the non-supercharged "L36" version of the GM 3800 Series II V6, the NHTSA said. The subject fire incident rate for the supercharged 2000 Pontiac Grand Prix GTP is about 236 per 100,000 vehicles produced versus about 18 per 100,000 vehicles for the 2000 Grand Prix with the normally aspirated L36 engine, the NHTSA said.







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Wednesday, June 20, 2007

Nissan to build 3000$ car

Nissan Chief Executive Carlos Ghosn said Wednesday the Japanese automaker was working on a super-cheap $3,000 car for the Indian market, but the date for its sale was still undecided.

Ghosn said the need for such a vehicle is apparent for the Indian market and because a rival has already announced that one was coming.

Nissan Motor Co will work on the car with its French alliance partner Renault SA and a local Indian partner, Ghosn said.

``You don't want to be surprised when the $3,000 car arrives in the market,'' he told reporters. ``We are gathering a lot of information.''

Nissan Motor Co of Japan and Renault SA of France are considering launching in India a car priced at 3,000 usd, according to the head of the two companies, Carlos Ghosn.

Ghosn told reporters: 'The very likely situation is: if we build a car like this, it will be done in India because the suppliers are there, the plants will be there and the environment in India will be very favorable to a frugal product definition.'


Earlier Renault made a statement about their interest in making a 3000$ car

Related Post
Nissan's Ghosn Says Mahindra Is Likely India Car Partner








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Bush proud of indo-US relations

In the backdrop of controversy over Democratic presidential hopeful Barrack Obama’s comments on his party rival Hillary Clinton’s connections with Indian-Americans, the White House has said President George W Bush is “proud” of the relationship between India and the United States.

“The President, obviously, is proud of the growing closeness between United States and Indians,” White House Press Secretary Tony Snow said when asked to comment on Obama’s comments that have peeved many in the Indian-American community.

The Obama Campaign had drawn up a document that took aim at Clinton’s support from an Indian-American businessman and companies that do business in India. It referred to Clinton as “Mrs Clinton D-Punjab.” “Not to be holding a brief for Senator Obama, but I don’t believe that he made comments of that sort. I do believe that was a staff comment for which he issued apologies,” the White House Spokesman said.

“But having said that, it is important to realise that the United States looks upon India as the world’s largest democracy, as an important and vital ally in a whole host of things — regional security, global trade, climate change. I mean, the importance of India is not to be understated. And we are certainly glad that the relations between the nations continue to draw closer,” Snow added.

In a meeting with Register reporters, Senator Obama called the document put out by his campaign as a “screw up” and that it was “stupid” and “caustic” and something that was not seen by him or his senior staffers. Maintaining the contents do not reflect his views, Obama said that he has had long-standing support from the Indo-American community, and that outsourcing is a complicated issue.

“Look, I’m running for president, and there are certain conventions we engage in. I have to raise money. It would be wonderful if we didn’t. Opposition research is part of the game that’s played, partly because you guys rely on it for stories,” Senator Obama is reported to have said adding “I’m not so naive as to believe I can win without being rough and tumble”.

And in an interview with Aziz Haniffa, Senator Obama said that he was “furious” when he heard about the issue and stressed that his campaign was taking “corrective action to make sure that people understand how this could be potentially hurtful.”

“My support among Indian Americans, South Asians, and Asian Americans generally, has been very strong and that’s the culture within which I was raised, as having grown up in Hawaii and Asia myself,” he added in that interview. “I think what happened was that the people who were writing the memo thought that to quote back Hillary Clinton was clever somehow. They were wrong and I let them know in no uncertain terms that this was unacceptable,” the Illinois Democrat said.






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Tuesday, June 19, 2007

Shuttle Atlantis heads back home

Shuttle Atlantis started for home on Tuesday, leaving the International Space Station with new solar power wings, a fresh crew member and a mystery over what knocked out the space station's computers.

Commander Frederick Sturckow and pilot Lee Archambault gently eased Atlantis from its berthing port at 10:42 a.m. EDT (3:42 p.m. British time), then circled the shuttle around the station while the crew took pictures of their work on the complex.

Cameras aboard both spacecraft televised the orbital ballet live, with Atlantis' empty cargo bay and thruster rocket firings visible against a black sky and the station's lanky symmetry restored with the new pair of sparkling wings.

"It's very exciting to see the station in this configuration," space station flight director Holly Ridings said.

Atlantis was scheduled to land at the Kennedy Space Center in Florida at 1:54 p.m. EDT (6:54 p.m. British time) on Thursday.

The best guess as to what caused the computer crash appeared to be some subtle shift in the electrically charged plasma that the station flew through as it orbited 220 miles (350 km) above Earth.

The theory is that the shift occurred as the station's shape and mass expanded with the addition of the 17-ton truss segments that hold the solar wings. The crash temporarily raised concerns the outpost would have to be abandoned.

The U.S. space agency NASA had a rough start to the flight. A hail storm battered Atlantis' fuel tank, delaying the launch three months. A June 8 liftoff was flawless, but troubles began shortly after Atlantis reached orbit.

BYPASSING THE PROBLEM

During an initial sweep of the shuttle's heat shield to check for damage from the launch, engineers spotted a piece of thermal insulation that had torn loose from an engine pod at the back of the shuttle.

The agency began an around-the-clock effort to determine if the shuttle's condition was safe for atmospheric re-entry.

The question has been in the forefront since the shuttle Columbia was destroyed, killing seven astronauts, in 2003 due to structural damage caused by an impact with debris during liftoff.

NASA added two days and a fourth spacewalk to the planned 11-day mission so the astronauts would have time to tuck the protruding thermal blanket back down.

The extra days proved a blessing for trouble-shooting the computer problems as well, with the shuttle taking over the job of positioning the outpost while the station's rocket-powered steering system was disabled.

After skipping two nights' sleep, station commander Fyodor Yurchikhin and flight engineer Oleg Kotov rigged the computers so that suspect circuits were bypassed.

"We essentially bypassed the problem," said Phil Engelauf, a NASA mission manager. "I wouldn't say we fixed it."

The solar power panels should provide enough electricity for the installation of laboratories built by Europe and Japan, both partners in the 16-nation, $100 billion (50 billion pound) project.






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India for UNSC seat

Britain has pledged its full support to India in its bid to become a permanent member of the United Nations Security Council.

"India will play a lead role in the 21st century and the UK supports India in its bid to become a permanent member of UN Security Council," Kim Howells, MP, Minister of State, Foreign and Commonwealth Office said on Monday night.

Russia's first Deputy Prime Minister Sergei Ivanov, tipped to succeed President Vladimir Putin next March, has backed India's aspirations for a permanent seat in the UN Security Council, though calling for its expansion on the basis of a consensus.

"Moscow supports India and Germany as candidates for UN Security Council's permanent members," Ivanov told the leaders of youth organizations in Moscow on Thursday.






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Monday, June 18, 2007

Tea pill, Tea Cola hitting markets soon

One no longer has to buy a bottle of mineral water or coke when thirsty; instead get a can of Tea Cola, a proven health drink. And if one is in a hurry but still in the mood for a cup of tea, just pop a tea pill and get refreshed.

more

Sunday, June 17, 2007

Opening up french economy?

President Nicolas Sarkozy's party won a clear parliamentary majority Sunday in elections seen as crucial to his vision for opening up France's economy, although the opposition thwarted a landslide victory by capitalizing on voter fears of giving Sarkozy too much power.
"The French showed they did not want to give all of the power to Nicolas Sarkozy," former Justice Minister Elisabeth Guigou, a Socialist, said Sunday night.

Socialist Party leader Francois Hollande said that his party had resurrected itself. "It's good for the country," he said. "France will walk on both legs."

Prime Minister Francois Fillon said the right would waste no time in using its majority to "resolutely modernize" France, approving reforms on labor, employment, consumer spending, law and order, universities, immigration and reducing the disruptiveness of strikes.

"We don't want to wait any longer to launch the renovation that the French are calling for," he said. "We will reform, we will renovate, we will experiment with new ideas. ... We will get rid of the defeatism that is suffocating the republic."

So what do you think? Dont forget to comment below!
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Friday, June 15, 2007

Vodafone to invest 2 billion dollars

Having constituted a new Board to administer India's third-largest mobile firm Hutch-Essar, Vodafone on Friday said it would invest two billion dollars in the country this year for expanding its business.

These investments would mainly come in areas like acquiring fresh licenses, improving content delivery, marketing and stuff i presume.The main think to watch for is can hutch improve its service overall to beat one of the leading player AIRTEL. Lets wait and watch


Earlier: British telecom giant Vodafone’s acquisition of a controlling stake in Hutchison Essar has cleared its final hurdle, with Finance Minister P. Chidambaram approving the deal.


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Thursday, June 14, 2007

Can you beleive it ?? Renault to make a sub 3000$ car

Can you believe it ?? Renault to make a sub 3000$ car. Hold your breath, its not gonna be sold in Europe ! This is a lauch aiming at mainly India market, may be say Chinese and other asian countries too. It makes sense to me, cause one of india's leading car manufacturer TATA is coming up with a small car for sub 1.5 lacs(something like 3000$). Renault can eat up TATA's pie if they can really roll out a car in this segment.
I am for me :)

French car manufacturer Renault is to create a $3,000 car in India within three years, French newspaper Le Figaro reported on Thursday, without citing sources.

The paper said Renault planed to open a third "technocentre" in India and hire 1,000 engineers to create a super low-cost model that would not be sold in Europe. Renault did not wish to comment immediately on the report.

Le Figaro added the project would be discussed by Renault's central works' council soon


Delhi to host Formula 1 racing

"India has won the right to host its first Formula One race in 2009, officials announced on Thursday. The deal was struck to hold the event in New Delhi", said Suresh Kalmadi, president of the Indian Olympic Association, which will promote the race.


Indian cricket teams doom in 2007 cricket worldcup seems to have given some impetus to growing popularity of other sports. Cricket mad country would now be hosting a Formula 1 race. So out of no where will delhi have to come up with a world class F1 strech, so as to attract the best in business.


There has been heightened interest in F1 racing in India after Karthikeyan hit the tracks on the back of Indian sponsorship reportedly worth $10 million. The 29-year-old did not race in 2006 but is signed up with Williams as a test driver.

Millions of Indians watch Formula One on television, often with the same passion they reserve for the country’s most popular sport — cricket.

"We have received a letter in this regard from Bernie Ecclestone, CEO of Formula One,” Mr Kalmadi told reporters. Funds will be raised from the government and the private sector to build a new F1 track and stadium for the race, said Mr Kalmadi.

"We are capable enough to raise the money. We have done it in the past. We will do it again,” he said. Asked why New Delhi was chosen as the venue, Mr Kalmadi said, "The Commonwealth Games are coming up. So we will have the international airport, hotels and other infrastructure ready for this."

The major obstacle in implementing such a gorgeous plan is corruption. If that could some how be controlled (emphasis.. controlled not avoided) then we all Formula One lovers can look forward to a treat in Delhi soon. more


Monday, June 11, 2007

Space Shuttles - Are these safe ?

Lets start with - What is a space shuttle ?

Space Shuttle, officially called Space Transportation System (STS), is the United States government's current manned launch vehicle. A total of five usable orbiters were built, of which three remain. The winged shuttle orbiter is launched vertically, usually carrying five to seven astronauts (although eight have been carried and eleven could be accommodated in an emergency) and up to 50,000 lb (22,700 kg) of payload into low earth orbit (the thermosphere). When its mission is complete, it fires its maneuvering thrusters to drop out of orbit and re-enters the Earth's atmosphere. During the descent and landing, the shuttle orbiter acts as a glider and makes a completely unpowered landing.

Evolution story(thats what it was meant to be)

The first orbiter, Enterprise, was not built for actual space flight, and was used only for testing purposes. Enterprise was followed by four operational space shuttles: Columbia, Challenger, Discovery and Atlantis. Challenger was destroyed on launch in 1986, and Endeavour was built as a replacement. Columbia was destroyed on re-entry in 2003.

Space Shuttle Columbia (NASA Orbiter Vehicle Designation: OV-102) was the first spaceworthy space shuttle in NASA's orbital fleet. Its first mission, STS-1, lasted from April 12 to April 14, 1981. On February 1, 2003, Columbia disintegrated during re-entry over Texas, on its 28th mission. All seven crew members aboard perished.

The Space Shuttle Columbia disaster occurred on February 1, 2003, when the Space Shuttle Columbia disintegrated over Texas during re-entry into the Earth's atmosphere, shortly before concluding its 28th mission, STS-107.

The loss of the Columbia was caused by damage sustained during launch when a piece of foam insulation the size of a small briefcase broke off the main propellant tank under the aerodynamic forces of launch. The debris struck the leading edge of the left wing on the number 8 reinforced carbon-carbon (RCC) tile, damaging the Shuttle's thermal protection system (TPS). While Columbia was still in orbit, some engineers suspected damage, but NASA managers limited the investigation on the grounds that little could be done even if problems were found.

Space Shuttle Challenger (NASA Orbiter Vehicle Designation: OV-099) was NASA's second Space Shuttle orbiter to be put into service. Its maiden flight was on April 4, 1983, and it completed nine missions before disintegrating 73 seconds after the launch of its tenth mission, on January 28, 1986, killing all seven crew members. Challenger was replaced by the space shuttle Endeavour which made its first flight in 1992, six years after the disaster.

The Space Shuttle Challenger disaster occurred in the United States, above the state of Florida, at 11:39 a.m. EST (16:39 GMT) on January 28, 1986, when the Space Shuttle Challenger disintegrated 73 seconds into its flight after an O-ring seal in its right solid rocket booster (SRB) failed. The seal failure caused a flame leak from the solid rocket booster, which impinged upon the adjacent external fuel tank. Within seconds, the flame caused structural failure of the external tank, and aerodynamic forces promptly broke up the orbiter. The shuttle was destroyed and all seven crew members were killed. The crew compartment and many other vehicle fragments were eventually recovered from the ocean floor after a lengthy search and recovery operation.

Space Shuttle Discovery (NASA Orbiter Vehicle Designation: OV-103) is one of three remaining spacecraft in the Space Shuttle fleet belonging to the U.S. National Aeronautics and Space Administration (NASA), along with Atlantis and Endeavour. First flown in 1984, Discovery is the third operational Space Shuttle and the oldest shuttle in service. Discovery has performed both research and International Space Station (ISS) assembly missions.

Space Shuttle Orbiter Atlantis (NASA Orbiter Vehicle Designation: OV-104) is one of the fleet of space shuttles belonging to the U.S. National Aeronautics and Space Administration (NASA). It was the fourth operational shuttle built. Following the destruction of Challenger and Columbia, it is one of the three fully operational shuttles remaining in the fleet. The other two are Discovery and Endeavour. After it completes STS-125, the final Hubble Space Telescope service mission, Atlantis is scheduled to be the first shuttle retired from the fleet.

NASA officials have decided the Atlantis crew will need to fix a loose thermal blanket on the outside of the space shuttle, extending their 11-day mission.

The work is expected to delay the crew's return flight by two days. But managers have not said whether the repair work will require an extra spacewalk. more


None other than an experienced former Nasa space shuttle astronaut, Mike Mullane, has seriously questioned the safety levels of the shuttle. In his fascinating book, Riding Rockets which was published last year, Mullane has stated that the "space shuttle is significantly more dangerous to fly than anything that had preceded it." Mullane himself has flown three space shuttle missions, and has logged a total of 356 hours.
The reason: the space shuttle did not have an in-flight escape system. Says Mullane: "The shuttle design did accommodate two ejection seats for the commander and pilot positions, but this was a temporary feature intended to to protect only the two-man crews that would fly the first four shake down missions." Subsequently, he said, the ejection seats were removed, and 10 crew members were booked for each flight. "We would have no hope of surviving a catastrophic rocket failure," he said.
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Wednesday, June 06, 2007

Britans new Highly-Skilled Migrants Programme (HSMP) program

THE NEW RULE :
The new rules disenfranchise potential non-European migrants over 28 years old and earning UK salaries less than £ 35,000. The Indians(constitute 80% of non europeans in UK) insist that their temporary visas make it impossible to get high-earning jobs and the changed rules make it impossible for them to stay on in Britain as previously promised by the government.

Disenfranchised Indians take to streets in London

The Indians, bearing banners that urged "Home Office, Keep your promise" and "Stop injustice to Highly-Skilled Migrants", claim the British government has unfairly changed the HSMP rules to disenfranchise economic migrants from non-European Economic Area countries.

UK Immigration minister Liam Byrne. Defending his government's right to change immigration rules, the minister said on Thursday, "No one wants this country to be a soft touch on immigration". But he added, "...nor do we want a barricade in place of a border".

Byrne admitted, "Yes we are asking people to prove they've made a contribution to Britain before we extend permission to stay. And yes, we're going to use objective tests of what people can offer. That's because we want the best to come to Britain".



Brown in India, faces NRIs' flak back home-Rest of World-World-The Times of India:
Brown in India, faces NRIs' flak back home

Amit Kapadia of the HSMP Forum told TOI, "Mr Gordon Brown before expecting new Indian investments in UK should first make sure that those same Indians who already contributed and made life saving investments in UK are treated with respect by the UK Home Office and the UK Home Office sticks to the initial promises made to us."

On Wednesday, exactly one week after a demonstration outside the British parliament, which was attended by hundreds of affected Indians, several MPs of the governing Labour Party and main opposition Conservatives and some peers, Kapadia said: "The recent new retrospective changes imposed by UK Home Office on Highly Skilled Migrants disregards the very sacrifices and investments we made in UK."


India warns Britain over 'unfair' worker immigration laws
India has cautioned Britain that it would be the "loser" if its immigration laws are not liberalised to allow freer movement of workers from the sub-continent nation.

Chidambaram's view( Indian Finance Minister ) :

Short of permanent immigration, we are asking for freer movement of personnel who can render services abroad P Chidambaram
Many knowledge workers could go abroad for three months, six months or a year and add to our exports, but they are constrained by a very restrictive visa regime and local tax laws.
If a qualified professional from India is denied entry and that place is taken by a less qualified person from, say, Eastern Europe, surely the UK is the loser

Pledged that India would "play more than our part" in the revival of the stalled Doha round of WTO talks.

We believe that the opening up of trade has helped India considerably. In fact, a significant proportion of our growth is coming from external trade. Exports last year were 103 billion dollars. We wish to remain engaged with the rest of the world and take advantage of a rule-based multilateral trade system


Many UK Indians face deportation
Britain has issued deportation orders to Indian IIM alumni and engineers working here on visas obtained under the Highly-Skilled Migrants Programme (HSMP).
Dr S Ghosh (PhD), an engineer who was the assistant professor at Bahrain University, said: “What a situation to be in! On the verge of being kicked out of the country after being made to sign a declaration that Britain would be my new home and after taking all reasonable steps to fulfill my commitment to do so. There is no way of getting back my job in Bahrain, no hope of finding a job in India. My child’s future is in shambles considering the difficulties of adapting to a new system after studying under the national curriculum of England all through. All this because I trusted that the UK Government would follow the well-renowned British values of honesty, fair play and justice”

Debansu Das, an IIM MBA, said: “It’s not easy for Asians to get high-profile jobs in the UK with higher salaries. I don’t qualify for further extension (of the HSMP visa) due to this retrospective change in rules because of which me and my family are in line for a possible refusal of extension and hence deportation.”

Dr George Joseph, who received his deportation order 14 months after arriving in Britain under the HSMP, added: “I was very attracted by the HSMP programme posted by the Home Office on the website. As per the rules that time there wasn’t much problem in getting the renewal after one year as I had to prove that I have been economically active. I have a Ph.D. in chemistry and many years of work experience and had heard that there was a shortage of science graduates in the UK.Now, says Joseph, Our lives have been turned upside down. We never imagined that the Home Office would unfairly implement HSMP changes with retrospective effect.”


Keith Vaz, MP of the governing Labour Party says

The rule change and application, with retrospective effect, is a slap on the face of those who had gone through the proper process and complied with the regulations only to be left in the limbo regarding their future. We request the home secretary to change the rules

Damien Green, shadow immigration minister of the main opposition’s Conservative Party says

Everyone agrees that Britain benefits from highly-skilled migrants. The government’s decision to change the rules so that people who are already here and want to stay are now disqualified is both unfair and wrong-headed. It is unfair because the people involved have made a commitment to this country which is being flung back in their faces. It is wrong-headed because it sends a signal to highly-skilled people around the world that Britain is an unreliable place to work

An academic and a member of the House of Lords, Bhikhu Parekh, said:

“A lot of these very talented people came to this country after borrowing money or giving up their jobs on a certain promise made by the government. This kind of change in rules mid-stream will only damage Britain’s reputation outside.”