Month: January 2008
Eyes, the doorway to our mind
Eyes, the doorway to our mind
3 Jan, 2008, 0500 hrs IST,PARAMAHAMSA SRI NITHYANANDA, TNN
Let us scan a day in our life. From the moment we are out of bed to the time we return to it, it’s filled with unreality. Almost everything we do is a sham. Even our smile is phony. In fact, we use our smiles as masks. We sport broad smiles even when our hearts are boiling. When we smile, we don’t want the other person to know what is on our minds. We avoid looking into each other’s eyes. Why?
Eyes are the doorways to our mind. We can see a person’s nature mirrored in their eyes. Eyes hide nothing. When we want to hide something from another person, we don’t look into their eyes. We cannot. Our eyes reveal everything. We think that we need to prepare, to hide, even from our experiences. We live with a constant inner chatter. We are always thinking while preparing to talk.
We are scared to show the world that our inner chattering is our thinking. Without preparation, we are worried that our inner chattering will spill out. We aren’t open to experiencing whatever comes our way. If we have experienced, then there is no need to prepare. Do you prepare to answer if someone asks your name? Do you need to carry hints?
What we have experienced we don’t need to prepare. If something hasn’t become a part of our experience, then we need to prepare. If we need to prepare to deliver a lecture, or we are afraid of public speaking, then it doesn’t come from our inner experience. It simply means that we are not truthful to ourselves. Our life then becomes untruthful as well.
Why are we afraid of public speaking? We are afraid that we might speak our thoughts. We fear that we might spell out whatever is happening inside. We know that there is so much negativity inside us. We are scared that something might erupt out or something unpleasant might tumble out.
That is why we must prepare whatever we need to speak about. If we don’t, we are afraid that we might start saying something that is really in our mind. We prepare to make sure that we don’t speak anything else. We prepare to hide the truth of our inner chattering.
Learn to be spontaneous. Let what happens inside be what is seen outside. That will be the first step to bliss.
Quieten your mind to listen
Quieten your mind to listen
4 Jan, 2008, 0000 hrs IST,N Kalyani, TNN
As children we played Chinese Whispers, where, a phrase that originated with one of us went around the entire group with each one whispering it in the ear of the other. And the last one to hear it in the group would announce it. This was followed by the original phrase being spelt out.
It was always amusing and amazing to see the distortion: what the original phrase was, and what was heard ultimately. Sometimes it was spoonerism at work, sometimes it got diametrically opposite in meaning, at other times it turned into a humorous concoction and at still others it ended up as gibberish.
Today our human intercourse and communication is carried on like a game of Chinese Whispers. Effective communication, which holds the key to understanding and harmony, is as much about good listening skills as it is about effective speaking skills. Listening. Do we listen? Apparently not.
And what hinders us from listening? In one of his discourses Osho explains thus: “The mind goes on spinning a thousand and one thoughts, and the mind goes on moving — in the past, in the future. How can you listen? And whatever you listen to, it will not be right listening at all .You will listen to something else which has not been said at all, you will go on missing that which is said — because you will not be in tune.”
Our perceptions, prejudices, apprehensions, in short, our distinct, particular mindset interferes in our listening with clarity. Clarity is really a certain transparency of the mind. With such a mind it is possible to listen disinterestedly, with genuine interest, true concern, and absolute honesty. “To listen means to be here, now,…without any thought, alert and aware, to listen in a deep receptivity,” says Osho.
Hermann Hesse, writes in his novel, Siddhartha (1922), about the protagonist, a spiritual seeker, of the same name, who learns from a river, a universal preceptor. “….he learned from it how to listen, to listen with a still heart, with a waiting, open soul, without passion, without desire, without judgement, without opinions.”
And through Siddhartha’s mentor, Vasudeva, a ferryman, Hesse alludes to a good listener, worthy of emulation: “… (he) took in every word, quietly, expectantly,…he missed nothing. He did not await anything with impatience and gave neither praise nor blame — he only listened.”
Reliance seeks 3.6 mmscmd gas from PMT fields
Reliance seeks 3.6 mmscmd gas from PMT fields
January 04, 2008 15:08 IST
Reliance Industries Ltd [Get Quote] has sought a minimum supply of 3.6 million standard cubic meters per day of gas for its petrochemical plants from the Panna/Mukta and Tapti fields, from which gas has been diverted by the government to state-run GAIL India [Get Quote].
Reliance along with state-run Oil and Natural Gas Corporation and BG Group of UK are the operators of the PMT fields lying in Mumbai offshore and till last month marketed gas from the fields in proportion to their shareholding.
The Mukesh Ambani-run firm’s petrochemical plants got 5.2 mmscmd of gas from the PMT fields, RIL President and CEO — Petroleum P M S Prasad wrote to petroleum secretary.
“PMT joint venture currently has commitment to supply around 2 mmscmd to RIL petrochemical plant at Hazira and about 1.9 mmscmd to (its subsidiary) IPCL [Get Quote] plants at Gandhar and Vadodara. IPCL have contract for additional supply of 1.3 mmscmd from PMT gas,” Prasad wrote on December 24.
Oil ministry last month cancelled almost all contracts for sale of gas from PMT fields and diverted it to GAIL India Ltd for re-sale at higher price.
GAIL is to finalise sale contracts in line with the gas utilisation policy that priorities allocation to fertiliser, petrochemical, existing power plants and city gas distribution units in that order.
Reliance, he said, was in favour of gas being given to priority sectors and was willing to use a mix of alternate fuels and gas at its petrochemical plants.
Investment bloopers: How not to lose money in 2008
Investment bloopers: How not to lose money in 2008
You were pretty confident about the investments you made at the beginning of 2007. But when the year closed you made nothing much from them.
Be it stocks, mutual funds, real estate or insurance. All or many of your bets fell through.
You bought stocks but at a higher price. The price went up still higher but the uncle next door bought another stock and made stupendous returns on his investments. Or you bought a share on some tip passed on to you by your cousin’s uncle’s friend’s neighbour who got the same piece of information from a shady stock market operator. But the share price plummeted after you bought it.
Or are you the one who bought mutual funds just because your financial advisor promised you the moon? He told you about the past performance of a mutual fund scheme and you bought his logic that mutual fund unit prices move only one way: up, up, up.
Or maybe your insurance agent pushed one policy after another, of companies and various products like ULIPs, money back and endowment plans but forgot to mention the term insurance plan.
Here’s the story of our reader Ashish Nagpal, 27, a Delhi-based software consultant, who bought a ULIP policy instead of buying a term insurance as he later realised.
I got married in the summer of 2005. By January 2007 we were blessed with a baby girl and were also able to purchase a 2 bed room flat on the outskirts of Delhi. Since I had taken a loan and had dependants now I wanted to buy an insurance policy that would take care of my family in case of any unfortunate event.
I called up my insurance agent and asked him to come out with the best option that would take care of my requirement. He visited my house two days later and advised me to buy a unit linked insurance programme, ULIP. He told me how ULIPs will help me invest as well as take care of my insurance needs.
He explained all the benefits of investing in ULIPs — the option of not paying annual premiums after three years without any impact on my sum assured, my premiums getting invested into the share market and buying units for me etc. I gave in to his persistent pitch without thinking too much about the pros and cons of such a policy.
Though the stock market has gained stratospheric heights my units are still not fetching me enough returns. This is because the premiums in the first three years that you pay towards your ULIP policy goes towards a bevy of charges like administration costs, mortality charges and lot other things, my insurance agent said like a sage.
He told me that as time goes by these charges will decrease and more of ULIP premiums will go towards investments in the share market thereby increasing my returns. Also, the sum assured on my ULIP policy is Rs 25,00,000 for which I am paying an annual premium of Rs 30,000.
A friend of mine told me that a term insurance plan would have got me the same sum assured at a much lower annual premium. He told me that I could get a sum assured of Rs 25,00,000 by buying a term insurance at an annual premium of not more than Rs 10,000. He told me I could myself invest the remaining amount — Rs 15,000 I will save if I switched from the ULIP plan to term insurance — in diversified equity mutual funds and get better returns than ULIPs over a time horizon of 15 years.
When I hired a professional financial consultant he too agreed with my friend and has asked me to stop paying ULIP premiums after three years and buy a term insurance policy immediately.
Now that I have realised my investment/insurance blooper I bought a term insurance plan and feel much happy that I could insure myself at a fraction of a cost and invest the rest of my money into mutual funds.
Moral of the story:
~ Don’t take your insurance agent at face value; cross-check whatever s/he says with a couple of professionals before you make a decision.
~ Always seek professional help for making important financial/investment decisions in your life.
~ Study all the advice — even if it comes from your professional financial advisor — before you put your hard earned money.
~ Never make any investment be it in stocks, mutual funds, real estate or insurance unless you are pretty certain about what you are doing.
~ And once you board the ship expect the best and be prepared for the worst.
Money Matters – End of Day Review – Friday, 4th January 2008
4:14 PM – The Indian market outperformed its global peers this week and today closed with new life highs. It was good gains and the weekly figures are: Sensex up 2.1%, Nifty 3%, CNX Midcaps 5.6% and BSE Smallcaps 7.6%, BSE Realty Index and BSE FMCG Index both up 5.9%, BSE Oil & Gas Index 5.4%, BSE Bankex 4.2%, BSE Capital Goods Index almost 2%, BSE Metal Index 1.8%, BSE Auto Index 1.7% and BSE Healthcare Index 1.3%. BSE IT index was down 5%.
4:06 PM – The market saw an excellent close with new all time highs for the Sensex at 20,762 and Nifty at 6300 in trade today. Sensex closed at 20686, up 341 points and Nifty at 6274, up 95 points from the previous close. The CNX Midcaps Index was up 0.3%, BSE Smallcaps Index was down 0.3%, BSE Oil&Gas Index was up 2%. The market breadth was negative with advances at 542 against declines of 690 on the NSE. Top Nifty gainers included Reliance Industries, Sterlite, L&T and RPL while losers included NTPC, Satyam, Cipla, Maruti and Tata Motors.
39 PM – The market is likely to continue to see volatility next week and aggressive profit booking simply because of the sheer volume of profits made on many stocks in the last 2 months, says Sajiv Dhavan of JV Capital Securities, on CNBC TV18.
TOP 5 GAINERS
Symbol Curr.Price % Change
PUNJABTRAC 351.50 29.49
HINDUJA TM 844.10 13.51
PARSVNATH 529.10 9.15
EIH 235.00 8.70
BOMBAYDYEI 980.05 6.24
TOP 5 LOSERS
Symbol Curr.Price % Change
FDC 47.30 -4.54
D-LINKINDI 121.00 -4.12
APOLLO TYR 57.10 -4.11
RAMCOSYSTE 229.85 -3.85
IVR PRIME 434.75 -3.66
TOP 5 VOLUME STOCK
Symbol Curr.Price Volume
RPL 244.65 17780257
ISPATINDUS 77.10 14405399
ASHOKLEYLA 54.00 11110608
POWER GRID 150.90 6336527
SPICE TELE 63.65 5679160
TOP 5 VALUE STOCK
Symbol Curr.Price Value (‘000)
RPL 244.65 4349939.88
RIL 2,985.85 2725970.57
REL 2,510.35 2468663.13
PARSVNATH 529.10 1991645.10
RCOM 760.05 1568939.29
Top 5 Performers from high-risk, high-returns category
Company,Scheme,Class,Plan,Type,Returns (%)
Reliance Capital Asset Management Ltd.,+,Reliance Diversified Power Sector Fund,Equity – Sector Fund,Growth,Open Ended,127.13
Reliance Capital Asset Management Ltd.,+,Reliance Diversified Power Sector Fund,Equity – Sector Fund,Bonus,Open Ended,127.13
JM Financial Asset Management Pvt. Ltd.,+,JM Basic Fund,Equity – Sector Fund,Growth
Open Ended,115.83
Taurus Asset Management Co. Ltd.,+,Taurus Libra Taxshield,Equity – ELSS,Growth,Open Ended,114.56
Standard Chartered Asset Management Co. Pvt. Ltd.,+,Standard Chartered Premier,Equity Fund,Equity – Diversified,Growth,Open Ended,109.55
World Indices today
SENSEX 20686.89 341.69
NIFTY 6274.30 95.75
DJIA 13056.72 12.76
NASDAQ 2602.68 -6.95
RS/$ 39.45 0.02
World’s tallest gets taller
World’s tallest gets taller
By a staff reporter KHALEEJT TIMES 4 January 2008
DUBAI — Burj Dubai continues to soar above Dubai and higher than any building in the world with its 158 levels now reaching a height of 598.5 metres, according to a statement released yesterday by the iconic tower’s developers Emaar Properties.
Cladding work of the tower is now taking place at an accelerated pace with 58 storeys already wearing the shimmering sheen of the high-performance cladding system.
The primary materials used —reflective glazing, aluminium and textured stainless steel spandrels and vertical stainless tubular fins — accentuate the tower’s height and slenderness to the eye.
Burj Dubai is now taller than Taipei 101 (508 metres; 1667 ft) in Taiwan and CN Tower (553.33 metres; 1815.5 ft) in Toronto, Canada. When completed, the tower will have used 330,000 cubic meters of concrete, 39,000 metric tons of steel rebar and 142,000 sq m of glass— and 22 million man hours. More than 5,000 consultants and skilled professional workers are employed on-site at the tower.
Burj Dubai is the centrepiece of Emaar’s flagship project, the Dh73 billion (US$20 billion) Downtown Burj Dubai, a new downtown with residential, commercial, leisure, retail and hospitality components, set on 500 acres of land in the heart of Dubai. Burj Dubai will feature residences, commercial space and retail space and hospitality elements including the world’s first Armani Hotel and Armani Residences.
Mohammed’s second anniversary as Ruler to be celebrated today
Mohammed’s second anniversary as Ruler to be celebrated today
By a staff reporter KHALEEJ TIME 4 January 2008
DUBAI — The Global Village, a member of Tatweer, will celebrate the second anniversary of His Highness Shaikh Mohammed bin Rashid Al Maktoum’s assumption of office as Ruler of Dubai today.
Visitors will enjoy free entry to the Global Village where celebrations will mark the historic occasion with traditional shows and folk dances such as ‘Al Harbia’, ‘Al Lewa’, ‘Al Habban’, ‘Al Ayala’ and ‘Al Dan’.
Saeed Al Muntafiq, Executive Chairman, Tatweer, said, “On this special day, Tatweer will bear the cost of all Global Village entry tickets. We invite visitors to come in large numbers and experience diverse cultures in this outstanding destination.”
Young girls in traditional UAE costume will welcome visitors with incense and scented rose water, offering special gifts such as sweets, nuts, UAE national flags as well as Global Village memorabilia.
Abdul Redha Ali Bin Redha, CEO, Global Village, said, “We are grateful to have a leader who has wholeheartedly supported the overall growth of Dubai and the future of our beloved country. Over the years, the Global Village has grown into a premium attraction among the UAE nationals, residents as well as visitors from across the world, thanks to the vision of His Highness Shaikh Mohammed.
“While fun, entertainment and cultural activities for the family are key components of the Global Village, safety has been given top priority to make the visit a memorable experience to all,” he said.
Burj Dubai reaches 158 levels to set world record
Burj Dubai reaches 158 levels to set world record
Staff Report GULF NEWS
Published: January 04, 2008, 00:42
Dubai: Burj Dubai, the iconic tower developed by global property developer Emaar Properties, has reached 158 levels – the most in any building in the world – and is now 598.5 metres high, Emaar said.
“Cladding work of the tower is now ongoing at an accelerated pace with 58 storeys already wearing the shimmering sheen of the high-performance cladding system,” the statement said.
“The primary materials used – reflective glazing, aluminium and textured stainless steel spandrels and vertical stainless tubular fins – accentuate the tower’s height and slenderness to the eye.”
Burj Dubai is now taller than Taipei 101 (508 metres) in Taiwan and CN Tower (553.33 metres) in Toronto, Canada.
When completed, the tower will have used 330,000 cubic metres of concrete, 39,000 metric tonnes of steel rebar and 142,000 square metres of glass – and 22 million man hours.
More than 5,000 consultants and skilled professionals workers are employed on-site at the tower.
Emaar has partnered with South Korean construction major Samsung Corporation and New York-based Project Manager Turner Construction in constructing Burj Dubai, which is designed by Adrian Smith and Skidmore, Owings & Merrill of Chicago.
Burj Dubai is the centrepiece of Emaar’s flagship project, the Dh73 billion ($20 billion) Downtown Burj Dubai, a new downtown with residential, commercial, leisure, retail and hospitality components.
Officials and corporate leaders hail governance
Officials and corporate leaders hail governance
By Shakir Husain, Ahmed A. Elewa & Himendra Mohan Kumar, Staff Reporters GULF NEWS
Published: January 04, 2008, 00:43
Dubai/Abu Dhabi: Senior officials and businessmen on Thursday praised the dynamic leadership of His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, capitalising on the gains achieved so far.
January 5 marks the second anniversary when His Highness Shaikh Mohammad Bin Rashid Al Maktoum became Vice-President and Prime Minister of the UAE. He became the Ruler of Dubai on January 4, 2006.
Abdul Aziz Al Ghurair, Federal National Council Speaker, said Shaikh Mohammad is an inspirational leader, who has created an atmosphere of immense confidence and courage in the UAE.
“This has been extremely beneficial for the business community in the region as it has helped us create a highly competitive and lucrative business arena.”
Mohammad Ali Al Abbar, Director General of the Dubai Economic Development Department, said the occasion calls for deep thinking to evaluate the march of giving and understand the honourable leader whose ambitions for his people are excellence and progress at a global level.
“Shaikh Mohammad’s personality is a harmonised mix of unique and positive characteristics, he is simple and humble when dealing with people, courageous when facing obstacles, and does not know the word impossible,” Al Abbar said.
Mattar Al Tayer, Chairman of the Roads and Transport Authority, said the achievements since Shaikh Mohammad took office stand testimony to the UAE’s comprehensive development process, which is based on a strategic growth and progress strategy.
Rashid Mohammad Al Mutawa, CEO and MD of the Mohammad Bin Rashid Housing Establishment, said Shaikh Mohammad has great concern to the housing of UAE nationals.
“Shaikh Mohammad gives free housing with priority to the less fortunate sectors of society, such as poor families, divorced and widowed women supporting their children and people with special need,” Al Mutawa said.
Development strategies
Mohammad Ali Al Hashimi, executive chairman, Zabeel Investments, said: “We have seen a major focus on healthcare and education. For the first time we have seen a cabinet that is being managed in a way you would have a Fortune 500 company managed.
“The drive that we have seen in the two years is phenomenal. It is good for all of us, whether we are nationals or expatriates.”
Khalid Bin Kalban, managing director and CEO, Dubai Investments, said Shaikh Mohammad’s development strategy covers both economic and humanitarian activities.
“He has the determination and willingness to take bold decisions. His influence is not limited to the UAE and GCC. He is influencing other parts of the Arab world as well.”
Saleh Abdullah Lootah, CEO, Al Islami Foods, said: “We see more synergies in the functioning of all the ministries and delivery of results. Shaikh Mohammad’s style of work is to give more authority to people and also hold them accountable about their performance. … Infrastructure projects are being implemented to fulfil the requirements of the future. … Gradually, there will be more integration with other GCC countries under his leadership.”
“This is the first government to … adopt a national strategy for developing the country, with clear targets and objectives,” said Khalfan Al Ka’abi, chairman of Ascorp Holdings and chairman of the construction committee at the Abu Dhabi Chamber of Commerce and Industry.
In April, the government announced a revolutionised agenda, setting strategic targets for all government departments and entities on the federal level, with a special task-force setup to monitor the adoption of these new national targets.
“The UAE now is benchmarking the performance of federal departments, and even the government of Abu Dhabi announced its own policy agenda to keep up with the ambitious national targets, and I think all the other emirates will follow suit … he revolutionised the way we perceive civil service on the federal and local level,” he said, referring to the substantial increase in the federal budget and the ambitious planning to develop infrastructure of the whole country.
From a different perspective, the concepts introduced so far helped in establishing a very open architecture for the economy, said Nazim Al Qudsi, chief investment officer at the National Bank of Abu Dhabi.
“This is very important as the UAE seeks now to base the economy on expertise and the quality of output, and that is what distinguishes the UAE from other economies in the region,” he said.
Ambitious targets are now set at the national level requiring excellence of service in all segments of the federal government bodies, while concepts as accountability, transparency, and efficiency are being pushed to the forefront.
Karim Al Solh, CEO of regional equity firm, Gulf Capital, said Shaikh Mohammad has helped improve the business environment in the UAE and brought greater visibility for Dubai and other emirates on the world scene.
Saleh Mohammad Bin Nsra, chairman of real estate companies Shorfa and Ashraq, said: “The business environment is better than ever before and this has given a big boost to real estate development in the UAE,” he said.
One more chance
One more chance
By Mahesh Dattani
Time is what makes us travel. We are all travellers in time. Another year has begun and many of us wonder “now where did the last year go?” The month, date and year have nothing to do with time really. These man-made markings are mere indicators to the real travel map of our lives. The time allotted to us on this planet. The marking of one year reminds us that our planet has made one more revolution around the Sun and our lives on the planet can be counted by a limited number of those cycles.
Given the space and age of the universe as we know it, this little rock’s destiny and scale are so insignificant that it wouldn’t be worth a mention if somebody were to be recording the movements of all the planets and stars across the universe.
Yet, to us humans this little pebble’s elliptical trajectory is what governs our awareness and our very being. And we think we really matter. Like the dinosaurs, the human species could be extinct one day and the universe will not even tremble!
So powerful is the reality of time and space, but we rarely seem to come to grips with it. We feel we have all the time until we lose it. And then we exclaim: “Oh where did it go?”
We all know how important it is to live in the present moment. Writers and philosophers have spoken about the value of present time. That is all we truly have. Yet we preoccupy ourselves with all the events that ?affected us over the year or month or week. We allow anger to build inside us. We continue to regret the wrongs we have done to people who have left us long ago. We yearn for the youth or beauty that once belonged to us.
All our happy memories make us feel that we were better off before than we are now. And painful ones just grip us at every moment that we pause in our day-to-day activities. Something in the present remotely associated to that tragic event takes us there. It prevents us from staying here. Brave ones try to push it away but they spring out of the closet in the most unexpected ways simply because we never really let go.
The New Year is always the time for introspection and for hope and also to quote famous people on introspection and hope. Oprah Winfrey once exclaimed: “It’s a new year! One more chance to get it right!” I like this one because it acknowledges the past but it’s firmly grounded in what is possible now. Other appealing quotes are ones that can make the most trivial of ?activities seem important. Sometimes the most valuable use of time is when the moment is contained with a sense of sharing. “Time spent in the company of cats is never a waste.” I am not a cat lover but it makes me think about it.
Which brings me to another one picked off the net: “How we spend our days, is of course, how we spend our lives.” Quite ironic for me since I spent a good part of the day on the net looking for these quotes! To me it has been far more fruitful than throwing up my hands and saying, “Now where did that year go?”
The previous year went where all previous years go. It is lost forever in transit, and a lot of what happened in the past is baggage that ought to stay lost. But we keep sifting our memory to try and find things there. A famous essayist said that the future comes to us at a speed of sixty minutes an hour. But what about the past? Does it really leave us at the same speed with which the future came? The past seems to leave us at variable speeds. The more we cling on to the past, it slows down lingering like a huge truck at a traffic light turned red, spewing toxins as we stare at its ugly rear from our position in the present. The sooner we let go the quicker it speeds away from us, as if the light has just turned green. Making the red light green is the only choice we have when it comes to time.
Until we choose to make the red one green and allow time past to vanish at the speed of lightning, we cannot extend the time we have on hand. Time is relative. We may have the same amount of time as did yesterday, but the more we let go the more we can cherish what we truly have.
Emily Dickenson puts it so: “To live is so startling it leaves little time for anything else.”
mahesh.dattani@gmail.com
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