News U Wish to Read – 30th August 2015
Sunday, 30th August 2015
Note: News U Wish to Read is a daily press review compiled and only covers articles published in the press, in the UAE, India and world around. Its purpose is to keep us informed of important news items which we all wish to not miss. Enjoy reading the below news items and links. More sections will come as it takes shape and interest. Your response to this initiative is highly appreciated.
Energy
Opportunities and challenges for the downstream oil sector in the Middle East
The National
Falling oil prices have deeply affected oil and gas upstream, with many projects shelved or put on hold around the world. For much of the downstream sector, though, the current environment also provided cheaper feedstock (crude oil) and a sudden stimulus to demand. Overall, sinking oil prices have served as a shot in the arm for the downstream sector in the short term. The fundamental challenges for the refining industry, however, remain.
Published: 29th August 2015
Diesel down 18%, petrol cut by 8.5% in UAEprojects
Khaleej Times
In its monthly price adjustments, the Ministry of Energy on Thursday lowered domestic prices for petrol and diesel for September. While diesel price was slashed by 18 per cent, the price for a litre of petol was reduced by 8.5 per cent, in line with developments on the international oil market. All pumps will retail diesel at Dh1.86 per litre. Petrol will be sold to consumers at Dh1.89 per litre for E-plus (Octane 91), Dh1.96 for Special (Octane 95) and Dh2.07 for Super (Octane 98), the ministry said, after a meeting of the Fuel Price Committee chaired by Dr Matar Al Nyadi, Undersecretary at the Ministry of Energy, and attended by officials of Adnoc Distribution, Enoc and other oil companies. The new prices will come into effect on September 1, 2015. Last month, the committee lowered diesel price by 29 per cent to Dh2.05 a litre from Dh2.35, while petrol price was hiked 24 per cent to Dh2.14 a litre. E-Plus 91 was increased to Dh2.06 a litre from Dh1.61, and unleaded gasoline 98 was hiked to Dh2.25 a litre from Dh1.83.
Published: 28th August 2015
Read more: http://www.khaleejtimes.com/business/energy/diesel-down-18-petrol-cut-by-85-in-uae
Rise in solar cells production to bring Rs 30,000-crore investment
Economic Times
The increase in manufacturing facility for solar cells and modules will bring in an investment of about Rs 30,000 crore and create 25,000 jobs in the country.
“It is expected that the manufacturing capacity for cells and modules will increase roughly by 2,500 MW and 5,000 MW per annum, respectively.”
“This is expected to create 25,000 jobs in manufacturing sector and bring in investment of about Rs 30,000 crore,” said an official in the New and Renewable Energy Ministry. At present, manufacturing capacity of cells and modules in India is 1,386 MW and 2,756 MW, respectively.
Published: 30th August 2015
Other Sectors
L&T Construction bags orders worth Rs 1,563 crore in July, August
Economic Times
Larsen & Toubro (L&T) today said power transmission and distribution business of L&T Construction has bagged orders worth Rs 1,563 crore in July and August. “The power transmission and distribution business of L&T Construction has won orders worth Rs 1,563 crore,” Larsen & Toubro said in a BSE filing. The company said it has received a breakthrough order from Tenaga Nasional Berhad (TNB) for design, manufacture, supply, installation, testing and commissioning of a 500 kV double circuit transmission line in Malaysia.
Published: 25th August 2015
Politics & Economy
Fed, ECB, BOE officials all say they see inflation rising
Gulf News
Stronger growth will pull inflation higher in the US and Europe, according to three top central bankers who voiced confidence that their regions will escape from headwinds that are keeping inflation too low. Federal Reserve vice-chairman Stanley Fischer joined European Central Bank Vice President Vitor Constancio and Bank of England Governor Mark Carney Saturday on an panel at the Kansas City Fed’s annual retreat in Jackson Hole, Wyoming, dedicated to discussing inflation dynamics. Their optimism has not been shared up until now by investors, trading in inflation- protected bonds shows.
“Given the apparent stability of inflation expectations, there is good reason to believe that inflation will move higher as the forces holding down inflation dissipate further,” Fischer said in his prepared remarks. “With inflation low, we can probably remove accommodation at a gradual pace,” Fischer said. “Yet, because monetary policy influences real activity with a substantial lag, we should not wait until inflation is back to 2 per cent to begin tightening.”
Published: 30th August 2015
Elephant vs Dragon: Why India’s economy is in a better shape than China
Economic Times
China’s economy is slowing sharply, creating a risk for the global economy. Its debt is pegged at 282% of GDP by some estimates. And that is just one of its problems. Years of state-driven investments have created excess capacity in several sectors. India is in far better health.
Published: 27th August 2015
Long way to go for India to become global growth engine: Rajan
The Hindu
RBI Governor Raghuram Rajan has said it will be “a long time” before India can replace China as a growth engine for the global economy, even if it grows at a faster rate. The comments assume significance in the wake of a China-led slowdown hurting the markets worldwide in the recent days, which has led to calls in India for taking this crisis situation as an “opportunity” as the global economy may need alternative growth engines. Asked whether India can replace China as a new growth engine, Rajan said in an interview to BBC, “India is one-fourth to one-fifth of China’s size. Even if we can overtake China in terms of growth rates, the magnitude of the effect will be far smaller for a long time to come.” As per the latest data available with the World Bank, GDP of the U.S. is over 17$ trillion. This compares with China at over 10$ trillion and India 2$ trillion. After Monday’s market crash, Prime Minister Narendra Modi had stressed on the need to further strengthen the Indian economy and said that the present global crisis should be converted into an opportunity for India.
Published: 26th August 2015
Community, Environment & Society
MoI Launches “Our Students are a Responsibility” Campaign
Wam
The Ministry of Interior, represented by Traffic Coordination Directorate General, is launching a traffic awareness campaign under the slogan “Our Students are a Responsibility” prior to the start of the new academic year.
This campaign comes as a part of the traffic sector’s initiative in line with the MoI’s strategy aimed at controlling roads, promoting traffic safety and reducing run-over accidents. It also aims to raise the awareness of students in all educational stages; especially children, about traffic accidents, the need to adhere to traffic laws, and to preserve the safety of students from potential road dangers.
Published: 28th August 2015.
Read more: http://www.wam.ae/en/news/emirates/1395284763044.html
50.2°C (and it’s getting stickier)
Thenational.ae
It’s hot and sticky outside, and it’s going to stay that way for the rest of the weekend. The weather bureau forecast 90 per cent humidity at night, expected to soar to 100 per cent in the event of fog, and the temperature reached 50.2°C in Sweihan in Abu Dhabi on Friday. The spike in humidity was by a change in the wind direction, with the conditions catching many residents by surprise. Meteorologists asked motorists to drive with caution since high humidity could lead to fog. “The direction of the wind until three to four days ago was a southerly wind coming over the desert, so conditions were dry,” said Ahmed Habib, a meteorology specialist with the National Centre for Meteorology and Seismology, on Friday. Humidity is likely to increase over some western areas, the report predicts. While the temperature could go up to 48°C in interior regions, it will rise to 43°C in coastal areas and 35°C in the mountains. Humidity levels will be between 55 to 90 per cent in coastal areas, 45 to 70 per cent in interior regions and 35 to 45 per cent in the mountains.
Published: 28th August 2015.
Read more: http://www.thenational.ae/uae/environment/502c-and-its-getting-stickier
Ban on plastic packaging of food, drugs: NGT seeks Centre view
The Hindu
The National Green Tribunal has directed the Centre and various stakeholders to file their submissions on a proposal that there should be a complete prohibition on the use of plastic packaging in food and pharmaceutical formulations of any kind. “It appears that none of the concerned ministries are prepared to take a decision which according to them at one time was need of the hour in larger public interest. Be that as it may, we will proceed with hearing of the matter and take appropriate decision in accordance with law.” “We direct all the parties before us i.e. Ministry of Health and MoEF (Ministry of Environment and Forests), CPCB and the Board under the Drugs Act and all the other respondents, stakeholders, Food Safety and Standards Authority of India and all the private stakeholders to place a note,” a bench headed by Justice Swatanter Kumar said. The tribunal was hearing a petition filed by NGO Him Jagriti Uttaranchal Welfare Society seeking restrictions on the use of plastic bottle and multi-layered, plastic packages or pet bottles by imposing a ban on packaging of carbonated soft drink.
Published: 30th August 2015.
Technology
Can’t stay away from phone? Find out if you’re a nomophobe
The Hindu
Do you get worked up immediately when your phone runs out of battery? Or be completely fine with it atleast for a while? Are you a nomophobe? Researchers can tell! US researchers have developed a questionnaire that can determine if you suffer from nomophobia or a fear of being without your mobile phone. Caglar Yildirim, a PhD student in human computer interaction at the Iowa State University (ISU), and Ana-Paula Correia, an associate professor in ISU’s School of Education, have identified four dimensions of this modern-day phobia. In the study published in the journal Computers in Human Behavior, study participants were asked to respond to statements on a scale of 1 (strongly disagree) to 7 (strongly agree). Total scores were calculated by adding the responses to each item. The higher scores corresponded to greater nomophobia severity. The questionnaire includes statements such as- I would feel uncomfortable without constant access to information through my smartphone; I would be annoyed if I could not look information up on my smartphone when I wanted to do so; Being unable to get the news (example: happenings, weather, etc) on my smartphone would make me nervous.
Published: 27th August 2015
Education+
Empowering the biotech sector
The Hindu
With the Reserve Bank of India declaring biotech as a priority sector, the biotech market has acquired new hope and opportunities. Incidentally, furthering this trend, Bengaluru which is already a biotech hub, now has the support of two initiatives from the State Government: Institute of Bioinformatics and Applied Biotechnology (IBAB) which intends to promote education, research and entrepreneurship in bioinformatics and biotechnology and Karnataka Biotech Finishing Schools (BTFS), which plans to enhance the placement opportunities for fresh graduates. IBAB offers a two-year M.Sc. degree in Bioinformatics and Applied Biotechnology which blends Mathematics, Statistics and Computer Programming with Molecular Biology, Microbiology, Biochemistry, Bioinformatics and Systems Biology. It also offers a Ph.D. programme. Students are selected for the course through an online exam followed by an interview. If IBAB takes care of the academic requirement, an initiative like BTFS aims to address the paucity of industry-ready graduates in the field of bio-technology. Initiated by the Department of IT BT and S&T, Government of Karnataka, via the implementing arm KBITS (Karnataka Biotechnology and Information Technology Services), BTFS aims to address this issue. The programme has been designed specially for life science students to give them hands-on training in various soft skills related to the field. The programme is currently in its fourth year and so far, 337 students have graduated from the schools. After six months of academic work, students are asked to intern with a company related to their domain of expertise. This programme is present in 12 institutions across Karnataka: Dayanand Sagar Institution, Bengaluru; Maharani Lakshmi Ammani College, Bengaluru; Siddaganga Institute of Technology, Tumkur; Padmashree Institute of Management of Sciences, Bengaluru; St. Aloysius College, Mangalore; Manipal Life Sciences, Manipal, etc. to name just a few. Students are selected for the BTFS programme through the Karnataka Biotechnology Aptitude Test (KBAT) which is followed by interviews and counselling sessions. Those who have completed a Masters in the subject can join BTFS.
Published: 27th August 2015
Read more: http://www.thehindu.com/features/education/empowering-the-biotech-sector/article7587152.ece
Indian traits of perseverance and adaptability excels in a global workplace
The National
From PepsiCo to Google, Indians are increasingly rising to the top roles in some of the world’s biggest companies. A number of factors are contributing to India becoming a breeding ground for global business leaders, including the country’s sharp focus on education and its citizens’ ability to integrate themselves into different cultures, experts say. The most recent high profile example of the trend came this month when Sundar Pichai, who was born and grew up in Chennai, took charge as the chief executive of Google. Also from Chennai, Indra Nooyi is the chief executive for PepsiCo. Meanwhile, Ajaypal Singh Banga from the city of Pune in Maharashtra leads Mastercard, while Ivan Manuel Menezes, also from Pune, heads the beverages giant Diageo. Satya Nadella from Hyderabad is in charge of Microsoft. In recent decades, a large number of Indians have moved to the United States and the United Kingdom to further their education after graduating from top institutions in India such as the Indian Institutes of Technology (IIT) and the Indian Institutes of Management (IIM). Those graduates have since risen to leading positions, explains Arun Bala, the chief operating officer at Invenio Business Solutions. “That is one of the factors that have brought Indians to the fore at this time,” he says. “You’re talking about some of the best that have been produced as graduates in India that have moved to the US over a period of about 30-odd years,” he says. “That’s a substantial number of academically bright and highly ambitious youth that have migrated to the UK and US.”
Published: 29th August 2015
Sports – Campaign PASS
Campaign PASS (Promote All Sports Simultaneously) is an initiative started through my blog to promote all sports(other than cricket – which gets lot of attention) and sports personnel associated to give them more exposure.
Trendsetters in their own way
The Hindu
At 22 and 27 years of age, Dipa Karmakar and P.R. Sreejesh have been trendsetters in their own way for their respective sport. On Saturday, they were rewarded for their hard work with the Arjuna Award here. Dipa became the first Indian female gymnast to win medals at the Commonwealth Games last year and followed it up with another bronze at the Asian Championships in Hiroshima recently. One of only 3-4 gymnasts in the world to practice the difficult Produnova vault — a double frontal vault — Dipa’s achievements are significant given the constant administrative wranglings and lack of training camps. Sreejesh, meanwhile, has created history in his own way. Coming from Kerala, a state that boasts of multiple winners across sports, being the first male hockey player to be conferred the Arjuna is recognition of a brilliant run of form for the past couple of years. Considered among the best goalkeepers in the world today, Sreejesh’s journey from the backwaters of Kerala to the Ashoka Hall is one of perseverance and grit.
Published: 30th August 2015
Read more: http://www.thehindu.com/sport/trendsetters-in-their-own-way/article7594331.ece
Hope you enjoyed reading the above news items and links. More sections will come as it take shape and interest. Your response to this initiative is highly appreciated.
Regards,
Ramesh Menon, Abu Dhabi
Electronic world – Short Take – Gulf Today Dt 29 August 2015
This is the age of electronic communication. This makes things easier for all. Children are well read and if they have any doubt on anything in this universe, they have the Google guru to assist. They don’t need to ask anyone else. They don’t believe anyone else too! Either their friends or what they find from searching on the Internet through Google.
I am amazed and amused by this trend. The other day I was in a shopping mall lift. A family of three came in with their child in the pram. I noticed the cute little boy of 3 to 4 years playing with an Android phone.
I thought he might be playing some games. As I observed closer, I was proved wrong, he was watching videos from a YouTube link active in it. Selecting and changing one after another!
As it was Onam, the harvest festival of Keralites, I went to the vegetable section of the supermarket.
I found a young couple, probably recently married, busy shopping. The boy and the girl were trying to impress each other on their mastery on vegetables and cooking! It was nice to see them trying to make headway in their life journey.
In between the girl too was searching on the Internet for various ingredients to be bought for a traditional Kerala recipe.
As I stood in the queue, I could see her calling her mother to confirm whether the items and quantity to be purchased were correct!
What would we do in this modern world if the mobile or electronic gadgets stop working?
Ramesh Menon
Gulf Today, Short Take Dt 29 August 2015
Mind Speaks – Elephant Beauty & Elephant Walk Policy
Elephants – Temple elephants are an integral part in the life of Keralites. Especially, if you are from Trichur area. The attachment towards the animal and interaction are very emotional and sensitive that they even address them by names and from ancient times there are several stories propagating the love and affection between man and elephant.
An Elephant’s walk is a beauty to watch. However, imagine a situation if it get’s wild. You just have to do a small search on youtube, you will see several videos of attacks by wild and angry elephant’s killing it’s mahout or others who come across.
Out of love and passion for the animal, I too have developed a very important Management Principle based on Elephant, closely following it’s gentle and beautiful walking style which is a beauty to watch and it’s actions terrorising all when it is wild. I have termed it as ELEPHANT WALK POLICY. It is somewhat related to our Gandhian and Hitler’s philosphies and principles.
First part of this principle follows Gandhi. Be mild – as mild as you can till you cannot tolerate any more when you may change over and follow Hitler and be wild and aggressive – as aggressive as you can. Create a wild impact and then let this impact force the results. It may be harmful, but till you shift the gear to Hitler, be a Gandhian.
Enjoy the photo of a beautiful temple elephant taking bath at the Shiva Temple Ernakulam before a festival.
Beware, I am not mild! I am sure you too.
News U Wish to Read – 25th August 2015
Tuesday, 25th August 2015
Note: News U Wish to Read is a compilation of articles published in the press, in the UAE, India and world around. Its purpose is to keep us informed of important news items which we all wish not to miss. Enjoy reading the below news items and links. More sections will come as it takes shape and interest. Your response to this initiative is highly appreciated.
Politics & Economy
Bear attack on Gulf equities
Khaleej Times
Bears took control of Gulf bourses on Sunday in the wake of lower oil prices and Friday’s global selloff of capital markets. The Dubai Financial Market General Index plunged seven per cent to 3,452.5 points, its lowest close since March 30. Its neighbour, the Abu Dhabi Securities Exchange, recorded a 5.01 per cent decline and closed at 4,286.49 points. Other Gulf countries also followed the bearish mood. Saudi Arabia’s Tadawul index lost 6.86 per cent, Qatar’s main benchmark finished down 4.7 per cent, Oman’s Muscat Stock Market witnessed a 2.94 per cent decline and the Kuwait Stock Exchange suffered a 2.36 per cent loss. Bahrain also declined, but it was the only market that lost below one per cent at 0.37 per cent. Oil prices plunged to their lowest level in more than six years on Friday, closing the day at $45.46 a barrel. The Dow Jones Industrial average also recorded its biggest loss in four years on Friday, closing down 3.1 per cent on growing fears over China’s slowing economic growth.
Published: 24th August 2015
Read more: http://khaleejtimes.com/business/local/bear-attack-on-gulf-equities
UAE stocks get off lightly as global rout persists
The National
UAE investors helped local equities escape relatively unscathed yesterday, even as plummeting Chinese stocks and additional pressure on oil prices provoked a further global sell-off of shares. China’s Shanghai Composite plunged 8.4 per cent yesterday, despite a move by authorities to allow pension funds managed by local governments to buy shares in an attempt to halt declines. The sell-offs hit bourses across Asia. Hong Kong’s Hang Seng ended the day 5.1 per cent down, while the Nikkei fell 4.6 per cent. In Europe stock markets in London, Paris and Frankfurt all ended down more than four per cent. However headline indexes in Dubai and Abu Dhabi ended a volatile day of trading only marginally down, as investors took advantage of attractive valuations to pile back into blue chips. The Dubai Financial Market General Index fell by 6.1 per cent to a new low for the year in the opening minutes of trading yesterday, before rallying into positive territory about midday, and finally closing down 1.4 per cent at 3,401.62.
Published: 24th August 2015
Read more: http://www.thenational.ae/business/markets/uae-stocks-get-off-lightly-as-global-rout-persists
Panic grips markets on ‘Bloody Monday’; global contagion keeps markets under pressure
Gulf News
The Dow Jones industrial average finished down 585 points on a day of massive swings. The U.S. stock market took investors on a stomach-churning ride Monday, as the Dow Jones industrial average briefly plunged more than 1,000 points and sent a shiver of fear from Wall Street to Main Street. Stocks regained much of that ground as the day wore on. But the slump – part of a global wave of selling triggered by the slowdown in China – reflected uncertainty among investors over where to put their money when the world’s second-largest economy is in a slide. “What’s a company that’s doing business with China actually worth right now? When you’re not sure, you tend to sell,” said JJ Kinahan, TD Ameritrade’s chief strategist. The Standard & Poor’s 500 index also fell sharply shortly after the opening bell, entering “correction” territory – Wall Street jargon for a drop of 10 percent or more from a recent peak. The last market correction was nearly four years ago. U.S. treasury securities surged as investors bought less risky assets. Oil prices fell. But investors also saw opportunity, moving fast and early to snap up some bargains. That helped trim some of the market’s earlier losses. The Dow closed 588 pointsd down. The S&P 500 was down 73 points, or 3.7 percent, at 1,897. The Nasdaq composite had shed 162 points, or 3.5 percent, at 4,543 points. The three indexes are down for the year.
Published: 24th August 2015
Top five factors which pushed Sensex lower by over 1600 points
Economic Times
Global rout extended to Indian markets with the S&P BSE Sensex closing at 1,624 points down. The 50-share Nifty index ended at 7,809 level.
The rupee slumped to as low as 66.69 per dollar, its lowest since September, 2013, as Asian markets reeled under fears of a China-led global economic slowdown.
Published: 24th August 2015
Wall Street suffers worst day in 4 years
The Hindu
The Dow Jones industrial average briefly slumped more than 1,000 points, its most dramatic intraday trading range ever. Investors rattled about China sent U.S. stock indices almost 4 per cent lower on Monday in an unusually volatile session that confirmed the S&P 500 was formally in a correction, even after a dramatic rebound by Apple. The Dow Jones industrial average briefly slumped more than 1,000 points, its most dramatic intraday trading range ever. Monday’s drop followed an 8.5 per cent slump in Chinese markets, which sparked a selloff in global stocks along with oil and other commodities. Wall Street had stayed in s narrow range for much of 2015, but volatility jumped this month as investors became increasingly concerned about a potential stumble in China’s economy and after Beijing surprisingly devalued its currency. Some investors unloaded stocks ahead of the close after looking to make money from volatile price swings earlier in the session. “If things don’t settle down in China, we could have another ugly open tomorrow and you wouldn’t want to be caught holding positions you bought this morning,” said Randy Frederick, managing director of trading and derivatives for Charles Schwab in Austin.
Published: 25th August 2015
Hope you enjoyed reading the above news items and links. More sections will come as it take shape and interest. Your response to this initiative is highly appreciated.
Regards,
Ramesh Menon, Abu Dhabi
News U Wish to read – 23rd August 2015
Sunday, 23rd August 2015
Note: News U Wish to Read is a compilation of articles published in the press, in the UAE, India and world around. Its purpose is to keep us informed of important news items which we all wish not to miss. Enjoy reading the below news items and links. More sections will come as it takes shape and interest. Your response to this initiative is highly appreciated.
Energy
Weak outlook as oil prices continue to slide
Gulf News
Oil prices are unlikely to recover in the near term as production continues to rise and demand slows down across the globe. Crude oil in the United States fell below $40 (Dh147) per barrel on Friday, the lowest since 2009. It recovered later to close at $40.45. International benchmark brent was at $45.46, down by 2.49 per cent. According to analysts, the very near term outlook for oil prices is not good. “There is a reasonable risk that in the coming weeks the West Texas oil price will fall into the thirties, brent maybe as low as $40 (per barrel),” said Gary Dugan, Chief Investment Officer at National Bank of Abu Dhabi.
Published: 18th August 2015
Read more: http://gulfnews.com/business/sectors/energy/weak-outlook-as-oil-prices-continue-to-slide-1.1571574
UAE domestic energy usage doubles in 10 years: Study
Khaleej Times
The UAE’s gross domestic electricity consumption has more than doubled over the past 10 years, and is expected to grow even more rapidly over the next five years as the country undergoes substantial population and economic growth, according to a study by management consultancy Strategy &, formerly Booz & Company. The study reveals that energy usage in the UAE has grown at an annual average of four per cent over the past six years, and is projected to increase to five per cent through 2020. A recent forum organised by the Energy Working Group of the UAE-UK Business Council and facilitated by Strategy&, highlighted three key aspects of energy efficiency which comprise of smart cities, building efficiency and water usage. Although numerous initiatives have already been launched in the UAE, implementing additional comprehensive measures and policies can help reap the full benefits of an improved energy efficiency strategy, as challenges cannot be overcome in isolation. While UAE’s increased urbanization is a sign of the country’s growth and progress, it also presents some challenges alongside. According to the UN, 85 per cent of the UAE’s population resided in urban areas as of 2014, and this is forecasted to reach 91 per cent by 2050. The UAE, therefore, needs to have integrated infrastructure planning as a prerequisite to any urban master plan. Per-Ola Karlsson, a senior partner with Strategy&, formerly Booz & Company in Dubai, said one of the best way of doing this, which takes advantage of digitization and the Big Data that urban populations produce, is through the so-called ‘smart city approach’. “This term typically entails integrated infrastructure planning that applies digital technologies to deliver better services and, critically for the UAE, reduce energy consumption. Smart cities allow city planners and managers to improve efficiency at the intersection of different infrastructure sectors, such as electricity, water, transport, telecommunications, cooling and waste.”
Published: 21st August 2015
Read more: http://khaleejtimes.com/business/energy/uae-domestic-energy-usage-doubles-in-10-years-study
Other Sectors
Government, Apollo Hospitals partner to launch telemedicine services
Economic Times
The Ministry of Communications and Information Technology will launch telemedicine services in collaboration with the Apollo Hospitals on August 25, under which people can consult doctors through video link and also order generic drugs online. Under the service, people can visit Common Service Centres (CSC) and fix an appointment for seeking expert consultancy with a doctor. The doctors at Apollo Hospitals will be able to provide consultancy to the patients using the video link facilities, a Ministry official said. The Department of Electronics and Information Technology (DeitY) has a network of 1.5 lakh CSCs across the country and Apollo Hospitals will provide the services using the network. To begin with, the services will be launched in 60,000 CSCs across the country. The initiative will benefit the patients in remote areas of the country where there is acute shortage of doctors.
Published: 23rd August 2015
Read more:
Bandhan Bank to fund SMEs, create jobs: Finance Minister Arun Jaitley
Economic Times
Newly-launched Bandhan Bank will fund lakhs of small and medium entrepreneurs, create jobs and act as a response to agrarian poverty, Finance Minister Arun Jaitley said today. “A great institution is being born in West Bengal,” he said while inaugurating Bandhan Bank here. Bandhan Bank today launched its operations with 501 branches in the country. The company, which started operations as a micro finance institution, got final approval from RBI in June to launch commercial banking operations. Jaitley said Bandhan Bank Chairman and Managing Director Chandra Shekhar Ghosh has said that the priority area of the bank will be small and medium enterprises (SMEs). “It is a landmark initiative in the service of country and state. It is these entrepreneurs in SMEs, many of them in unorganised sector, who today form the backbone of Indian economy. “Small entrepreneurs, from shopkeepers to hawkers, they are generating almost 11-12 crore jobs in this country. The large organised industry is able to generate only a small fraction of that,” Jaitley said.
The Bandhan experiment – a transformation from a micro lender to a full-fledged bank, may shape the India’s future banking, felt who’s who of the country’s financial field who thronged to the city in numbers for the Bandhan Bank’s inaugural programme. The formation of Bandhan Bank in fact, marked a new beginning of Indian banking, which in another one-and-a-half year will see emergence of payments banks and small finance bank. Reserve Bank of India has decided to offer licenses to entities with different capabilities with a single agenda in mid: improve financial penetration. “India is home to several experiments and an MFI turning unto a bank is one such experiment,” former RBI deputy governor Shyamala Gopinath said at pre-launch event on the eve of Bandhan’s inauguration on Sunday. Bandhan Bank is the first to be off the block as the new change happening in the country’s finance and banking field,” Uday Kotak, executive vice chairman and managing managing director of Kotak Mahindra Bank, said at the event. West Bengal finance cum industry minister Amit Mitra, who was present at the inaugural event, said that Bandhan Bank would serve the twin purpose of women empowerment and poverty alleviation.
Published: 23rd August 2015
Politics & Economy
Mohammed bin Rashid issues law regulating partnership between public, private sectors in Dubai Emirate
Wam.ae
Vice President and Prime Minister, His Highness Sheikh Mohammed bin Rashid Al Maktoum, in his capacity as the Ruler of Dubai, has issued Law No. 22 for 2015, regulating partnerships between the public and private sectors in the Emirate of Dubai. The new law aims at encouraging the private sector to participate in the development of projects and increasing investment in different fields in a way that serves economic and social development in the Emirate of Dubai. It also allows the government to implement its strategic projects effectively and efficiently, as well as harness financial, administrative, technical and technological expertise of the private sector. This will also enable individuals in the community to have better access to services at less cost. The new law also aims to increase productivity and improve the quality of public services, transfer of knowledge and experience from the private to the public sector, as well as training and qualifying Emirati public employees in the areas of management and operation of projects.
Published: 18th August 2015
Read more: http://www.wam.ae/en/news/economics/1395284468285.html
Arabian Gulf markets lose $58 billion as weak oil and global equity rout spark sell-off
The National
Billions of dirhams were wiped off the value of Dubai shares yesterday, as stock markets across the Arabian Gulf lost US$58 billion on a day of calamitous trading. The sharp sell-offs came in the wake of sliding oil prices and a global equity rout on Friday, spurred by fears of a slowdown in China’s economic expansion, a key engine of global growth. Dubai’s stock market led losses in the Middle East yesterday: the Dubai Financial Market General Index fell as much as 7.2 per cent on the day, before closing down 6.96 per cent at 3,451.48, its lowest level since the end of March.“There’s been absolutely no discrimination, it’s red across the board,” said Sebastien Henin of the The National Investor in Abu Dhabi. “Many stocks are back to their lowest level since December or January.” Emaar Properties, the heaviest-weighted stock on Dubai’s headline index, ended the day down 8.3 per cent at Dh6.18, its lowest level since December. The market plunge in Dubai was closely mirrored in Saudi Arabia, where equities have suffered severe losses in the past month in the wake of plummeting oil prices.
Published: 23rd August 2015
Inflation climbs to 4.43% in UAE
Khaleej Times
The overall inflation in the country rose to 4.43 per cent year-on-year in July, highest in six years. In a month-on-month comparison, CPI rose to 126.03 points from 125.66 points or 0.37 points. The chief contributing factors to the rise in inflation were led by food and beverages that rose 1.37 per cent; followed by textiles, clothing and footwear that went up 0.33 per cent and rise of 0.13 per cent in housing rents. Decreases to the CPI came from miscellaneous goods and services 0.12 per cent; medical care 0.07 per cent and furniture and household goods 0.01 per cent. Housing and utility costs, which account for over 39 per cent of consumer expenses, jumped 10.0 per cent from a year earlier in July and rose 0.1 per cent from the previous month. Abu Dhabi hiked electricity and water tariffs from January 1. Food and soft drink prices, which account for nearly 14 per cent of the basket, rose 3.4 per cent year-on-year and 1.4 per cent month-on-month. At the emirate level, CPI fluctuated highest in Sharjah measuring 0.54 per cent; followed by Ajman where 0.49 per cent growth was witnessed. In Dubai, it rose 0.45 per cent followed by 0.31 per cent in Abu Dhabi, according to latest data. Lowest fluctuation of 0.15 per cent was noted in Fujairah, according to the National Bureau of Statistics. On the rise in food prices in July which is reflected on the CPI, a leading retailer Wissal Ahmed Khan, chief executive officer of Alam Supermarkets in Abu Dhabi, said: “The period covered in the survey includes the second half of Holy month of Ramadan, when the promotions launched by the retailers came to an end, to normal price levels.”
Published: 21st August 2015
Read more: http://khaleejtimes.com/business/economy/inflation-climbs-to-443-in-uae
Community, Environment & Society
Ecocity World Summit 2015 to welcome 13 ministers and government officials as speakers
Wam.ae
Ecocity World Summit, ECWS, 2015 has confirmed a line-up of 13 ministers and government officials as speakers, in addition to 22 subject matter experts, up to a dozen from academia, and other visionary leaders from the private sector. The event is scheduled to take place in Abu Dhabi from 11th to 13th October, marking its debut in the Middle East. As part of the city-wide preparation for the summit, the ECWS host committee members conducted their first official meeting on 19th August with over 15 bodies to discuss their anticipated outcomes and collaborative efforts towards the successful launch of the Middle East’s first ECWS edition. ECWS 2015 is to be hosted by the Environment Agency – Abu Dhabi, supported by the UAE Ministry of Foreign Affairs, the Urban Planning Council, Masdar, and will be facilitated by Abu Dhabi Environmental Data Initiative with Abu Dhabi Tourism Authority as the destination host. “The response to the 11th edition of the Ecocity World Summit conference series has been tremendous, and we are very much looking forward to the contribution of our list of speakers, from across the globe. By creating an opportunity for dialogue with the greatest minds in this field, we are confident that the summit will help pave the way for greener cities across the globe,” said Ahmed Baharoon, Executive Director of the Environmental Science, Information and Outreach Sector and Acting Director of AGEDI of Environment Agency – Abu Dhabi.
Published: 23rd August 2015.
Read more: http://www.wam.ae/en/news/emirates/1395284593286.html
National Archive signs agreement with BP Archive on UAE documents
Wam.ae
The UAE National Archive has signed an agreement with British Petroleum (BP), allowing it to access documents and records about the Emirate in the company’s archive. The agreement, signed on the directives of H.H. Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister, Minister of Presidential Affairs and Chairman of the National Archive, grants the National Archive a 10-year exclusive access to all documents in the BP archive about the UAE. The company’s documents and records relating to the UAE chronicle a critical era in the country’s history. The agreement was signed by Dr. Abdulla Al Raes, Director-General of the National Archive and Peter Housego, BP Archive Manager, in presence of Abdul Rahman Ghanem Al Mutaiwee, UAE Ambassador to the United Kingdom.
Published: 20th August 2015.
Read more: http://www.wam.ae/en/news/emirates/1395284541068.html
Technology
Tweets now visible on Google search
The Hindu
Now you can see Tweets in the Google search results as Google has added Tweets to their real-time search results on the desktop. Google’s results will now show Tweets along with standard search results on your desktop, especially when search terms have to do with keywords that are trending on Twitter at the time the search is made, Slashgear.com reported. For example, searching for ‘NASA Twitter’ will not only show you a link to NASA’s official Twitter page, it will also show NASA’s most recent Tweets.
Published: 22nd August 2015
Education+
Government looking to open education, legal services for foreigners
The Economic Times
The government is following a “calibrated approach” to open its education and legal services for foreigners, a move aimed at boosting country’s services sector. Commerce Secretary Rita Teaotia said that work is under progress for opening education and legal services for foreign players. In a country like India, “this (the liberalisation of the services sector) is to be slow and should have a calibrated approach. It is at a very early stage. A roadmap has been prepared,” she told PTI. Explaining about the country’s approach to open education sector, the secretary said, in the beginning, opening online courses could be an option.
Published: 23rd August 2015
Money matters
The Hindu
The Youth Money Olympiad (YMO) is a national level competition open to college students. Its aim is to help students evaluate their personal finance awareness. The winners of the first edition of Youth Money Olympiad were honoured by Principal Mutual Funds and Money Wizards at a function in Mumbai recently. The first edition had the YMO reaching out to more than 7,700 students across 75 colleges, from 41 cities in India. The students were assessed on the basis of a personal finance IQ test conducted first at the college level, and then at a national level. The participants were given personal assessment reports and were provided with educational material to help them understand personal finance issues. Ranjai Banerji from IIM Calcutta bagged the first prize, while the second spot was shared by students from IIM Kozhikode and IIM Ahmedabad and IIM Ranchi, followed by Janani Srinivasan, a student from Ethiraj College for Women at the third position.
Published: 22nd August 2015
Sports – Campaign PASS
Campaign PASS (Promote All Sports Simultaneously) is an initiative started through my blog to promote all sports(other than cricket – which gets lot of attention) and sports personnel associated to give them more exposure.
Indian Table Tennis League launched
The Hindu
The inaugural Indian Table Tennis League, offering Rs. 1 crore prize money, will take off in May-June next year, the organisers announced today besides boasting that the franchise-based event will be the first ever league to get a dedicated window by world body ITTF. The announcement came after months of planning though many questions still remain unanswered for the league scheduled from May 28 to June 12 in the Olympic year. As of now, the league will have eight teams battling out for the lucrative prize money. Besides that, the teams will have a foreign male and female player each as well as an Indian in both categories. Officials of 11EVEN Sports, the company formed to run the league and which has the backing of Table Tennis Federation of India (TTFI), said the event format will be worked out soon. “Today we have just announced the launch of the league. We are still in the process of working out the number of teams, who their owners will be and players’ participation from all around the world. Now that we have got the ITTF nod, we are confident the best players of the world will be a part of this league, which will turn out to be a great learning experience for the Indian players,” 11EVEN Sports director and former player Kamlesh Mehta told PTI.
Published: 20th August 2015
Read more: http://www.thehindu.com/sport/other-sports/indian-table-tennis-league-launched/article7562063.ece
Hope you enjoyed reading the above news items and links. More sections will come as it take shape and interest. Your response to this initiative is highly appreciated.
Regards,
Ramesh Menon, Abu Dhabi
Photos that speak – Passionate Photography Thoughts
I have an active photography group on Facebook named “Passionate Photographers”. As the name denotes this is a group intended to ignite your passion for photography. How this group and your presence as a member can fuel the growth of your photography knowledge and photographic output depends on your active involvement within. It is the case in every aspects of our life.
Good photos make us curious onlookers of any posts either in print or web media. Many times some of the best creations are produced by experts with the latest equipment available to them. It may be a wide variety of lenses, lighting equipment, even models or subjects who are professionals to modulate the subjective topic into a magical visual experience. However, many of us do not have these advantage factors and the same should never hold us from continuing our passion to go in without inhibition and capture that magical and price moment which comes in front of us.
How can we do that?
This is where an open attitude towards this hobby and creative activity comes in. Let me take the example of cricket. Many of us are fond of cricket. Now imagine getting a chance to play at the beautiful Sheikh Zayed cricket stadium in Abu Dhabi for a T20 match. A golden opportunity comes in front of us from out of the blue as a bowler. You get to bowl only 24 genuine balls against your opposition. It is here your mind plays the key role. If you have been a player who plays cricket, you always play the game in your mind several times. The situation, its pros and cons, the weather condition, batsman whom you may play against or many other. All those things are practiced and perfected in mind. Also your own positives and negatives, the effectiveness of your equipment like bat and other gears. You get the best result with the right applications of all the factors involved.
The situation is similar for you when a photographic opportunity comes to you suddenly.
I am sure all of you have a digital camera or an android phone, which of course now everyone has. First thing for you is to study its numerous features and their effectiveness on different light situations and surroundings. For this you have to keep on clicking, changing each and every option and testing it out. Like the bowler, who bowls numerous overs in the nets and perfect that unplayable Yorker, doosra or theesra or whatever, you too have to test the various options several times. This will make you comfortable and quick fingered to change the settings to the required mode to capture your object within the minutest of seconds available.
In photography, seconds or milliseconds are precious. It teaches you the importance of time within time. This is why I say and propagate that those who are interested in photography normally succeed in all other fields of life.
Constant practice makes you comfortable and experienced with your equipment. This is the same way you get to understand your family or friends, their likes and dislikes up, close and personal, so that you get the best out of them always. Or like the same way you change gears on a fast track, if you know your equipment well, you will be able to switch over to various modes within the applicable precious seconds available at your disposal. This is how you get to see extremely interesting photographic moments captured by photo journalists. Regular members of photography related groups can visualize the amount of devoted effort by professional photographers to give us a golden moment. Examples of clicks when a mad elephant attacking a man, a sprinter finishing the race, an accident during a high speed car racing etc are some of them.
Lighting is another important factor that aid to a perfect picture. What do we do, if we are not equipped with specialized lighting equipment? What more you need than the natural and greatest light providers – i.e. the Sun and the moon. Through constant observation, a photography enthusiast will be able to learn about different light options available during different times of the day and night. Your photography life becomes easy once you start understanding these natural settings better. Positioning yourself in the right spot to gain the advantage of these lights will then do wonderful effect your otherwise normal equipment and settings. By constant practice and observations you will learn the best settings for any particular scene to look priceless.
Observe closely each and every photo you get to see, especially of experts and professionals. Play the settings in your mind like a bowler and you will never know when that priceless moment comes clicking in front of you. Try it and your Photo will definitely speak the next time.
My photography journey has been slow, but steady. A look at the photo section of the Passionate Photographers group will prove how each one of the members learn and grow in this passion of theirs.
Every photo clicked is a history. You will never be able to re-create that precious moment.
God bless and have Passionate Photographic days ahead.
Ramesh Menon
rameshmenonabudhabi@gmail.com/rameshmenonauh
Mind Speaks – I am a Virgin
Public Speaking is an art. Some people are very talented at it so much so that we love to hear them speak for any number of hours.
It may be natural for some but for others it may be developed over a period of years. Both require in depth knowledge on the subject they speak and also huge amount of preparation before.
It is also the same case when it comes to answering questions spontaneously after the speech on the subject they talked as well as various others.
I was lucky to listen to three speakers recently. One was a US scientist, who elaborated his mastery and presented it in the simplest manner that even a layman could understand.
The other one was one of my own seniors. With experience in the industry for about 40 years, it is a treat to watch and listen to him on any day. It comes so natural that the audience will never realize how much time and topic is covered until he leaves the podium.
It doesn’t end there as he has a natural way to answer post-speech questions. I haven’t seen him carrying a manuscript for his speech.
However, it was new experience for me and all others gathered who listened to him at a huge gathering.
As he came in front of the podium, he took out a set of papers. Before reading out the key messages from it, he said to all.
“Today, I am a virgin! It is the first time I am reading out from a pre-written note!”
It was really an icebreaker to capture the huge audience. Though he ventured out from the note at times, it blended perfectly.
The third speaker was none other than the honorable Prime Minister of India Sri Narendra Modi. As he entered the Dubai Cricket stadium on Monday, 17th August 2015 evening, the stadium was filled with thunderous applause and all were shouting Modi, Modi, Modi…It took for him a while to blend himself in.
The moment he started addressing the crowd, it became a speech of historic importance. He carried the audience along with him every moment of that talk which lasted more than an hour. He didn’t miss any opportunity to praise the UAE leaders for their hospitality to him and India as a nation of importance to the region, its growth and development.
In his trademark style, he also made it a point to wish the Malayali communities, the largest group in the audience as well as the largest community in the UAE, a happy new year, as it was the first day of the Malayalam calendar year.
A mix of math, science, humor, anger all blended well in his long speech. What he wanted to say, he said and what he didn’t want to say, he didn’t!
Expats who waited for hours wanting to hear about measures from the government to work on reducing the airline charges which are rocketing every day, even during the present time when oil price is at its maximum low, or news on other beneficial measures for expat community left home as they came!
Business and trade community had its share of happiness when he announced UAE’s plans to invest US$75 billion in Indian infrastructure and boost trade between the two countries by 60 per cent. No business will thrive without hard work and acumen to generate the atmosphere for it to thrive. Now, it is up to the business community in both countries to work on this and make things happen.
What inspired me more was his call for action for the audience in general and the Indian Community as a whole to invest in schemes under Prime Minister’s Jan Suraksha Yojana an amount of Rs 600 for their sisters. The schemes target the poor and unorganized sector that are neither covered by any form of insurance nor get pension. Under the accident insurance scheme, a person will be provided cover of Rs 200,000 for an annual premium of Rs 12. The cover is for accidental death or permanent total disability.It has inspired me to look deeper around. I live in a gated community where I know I can contribute towards this and help some of the workers who can benefit from this scheme, with support from members like me.
He reiterated again and again that this huge welcome from the UAE is for the Prime Minister of India, its people for their contribution to the country’s development.
His speech of historic importance proved again, public speaking and presence of mind to take people along and motivate them as they leave the venue is indeed an art which has to be developed by all.
For any established speaker, every stage will be a new one, with new momentum and atmosphere. It is up to them to make it fresh and interesting to leave the podium with ever lasting impression on the audience. It is the same case as of a performing artist. Practice in the mind and perfect in person. If ever you get such an opportunity as a speaker, keep it fresh, beautiful and attractive to create ever lasting memories.
Let this note inspires you to say and act “I am a Virgin” in whatever you do! May you carry the freshness and exuberance all along.
Ramesh Menon, Abu Dhabi
@rameshmenonauh/rameshmenoabudhabi@gmail.com
Chingam 1st – Wish you a blessed year ahead
To all malayali friends, today is Chingam 1st (first month and the 1st day of Malayalam Calendar year). Wish you a blessed year ahead. It also announces the arrival of Onam, the harvest festival of Keralites.
This flower named “Thumbapoo” is an integral part of onam floral decorations.
Thumbapoo – botanical name Leucas zeylanica, commonly Ceylon slitwort (Sinhala: ගැටතුඹ, Geta-tumba in Sinhala, halkusha in Bengali, Guldora in Punjabi, kulnnphul in Gujarati, Goma madhupati in Hindi, Kubo in Sindhi, Bhutamari in Oriya, Bahuphul in Marathi, Thumbai in Tamil, Thumbe in Kannada, Thummi in Telugu and Thumba in Malayalam ), is a small, terrestrial, herbaceous, annual, erect or sometimes tufted, hispid and aromatic plant of the subfamily Lamioideae of family Lamiaceae. Botanical synonyms include Leucas bancana Miq., Phlomis zeylanica Linn. and Spermacoce denticulata Walp., and is native in Tropical Asia to Malaya.
News U Wish To Read – 14th August 2015
Friday, 14th August 2015
Note: News U Wish to Read is a daily press review compiled and only covers articles published in the press, in the UAE, India and world around. Its purpose is to keep us informed of important news items which we all wish to not miss. Enjoy reading the below news items and links. More sections will come as it takes shape and interest. Your response to this initiative is highly appreciated.
Energy
Saudi Arabia may go broke before the us oil industry buckles
The Telegraph
If the oil futures market is correct, Saudi Arabia will start running into trouble within two years. It will be in existential crisis by the end of the decade. The contract price of US crude oil for delivery in December 2020 is currently $62.05, implying a drastic change in the economic landscape for the Middle East and the petro-rentier states. The Saudis took a huge gamble last November when they stopped supporting prices and opted instead to flood the market and drive out rivals, boosting their own output to 10.6m barrels a day (b/d) into the teeth of the downturn. Bank of America says OPEC is now “effectively dissolved”. The cartel might as well shut down its offices in Vienna to save money.
Published: 5th August 2015
Egypt to seek bids for solar and wind-power projects
The National
Egypt will begin accepting bids for 500 megawatts of renewable energy projects this month. The government yesterday said it would open the tenders for the three projects – two solar and one wind – as it tries to achieve its target of using renewable energy for 20 per cent of its energy needs in five years’ time. One investor involved in the first round of solar photovoltaic (PV) tenders said the first phase of the government’s feed-in tariff programme, a subsidy scheme, had yet to be concluded, and none of the 1,800MW PV projects the government had awarded had reached financial close. Financial close occurs when all the project and financing agreements have been signed and all the contractual conditions have been met. “The timing for these new tenders is premature because the serious companies are already involved and want to get across the finish line before they take a bigger chunk out of the market,” said the investor, adding that his company would not be interested until its existing projects have closed financially.
Published: 12th August 2015
Read more: http://www.thenational.ae/business/energy/egypt-to-seek-bids-for-solar-and-wind-power-projects
No plans for Opec emergency meeting to tackle slump in oil prices
The National
Opec has no plans for an emergency meeting to respond to the slump in prices, according to delegates from the group, while members have discussed the possibility amid a persistent oversupply of crude. Four delegates from the Opec, which controls about 40 per cent of world oil supplies, said they were not aware of any plan for an emergency meeting, asking not to be identified because discussions are private. Some members have discussed holding a meeting before the scheduled December 4 gathering, the Algerian official news agency reported citing energy minister Salah Khebri. Oil has slumped more than 25 per cent since this year’s peak in June amid signs the global surplus will be prolonged. US inventories remain more than 90 million barrels above the five- year seasonal average. Societe Generale and JPMorgan Chase & Co cut their price forecasts on weaker demand growth and oversupply. “We support an emergency meeting of Opec,” Nagi Elmagrabi, chairman of Libya’s state-run National Oil Corp, said by phone Monday. “Global supply should be reduced in order to lift prices.” Political strife cut Libya’s output to about 400,000 barrels a day, compared with 1.6 million barrels a day before the 2011 rebellion that ended Muammar Qaddafi’s 42-year rule, according to data compiled by Bloomberg. Algeria produces 1.1 million barrels a day.
Published: 10th August 2015
Solar deals are hot, but investors fret
Gulf News
A string of deals involving rooftop solar companies has shown both the appeal and potential of the business — and limits to investor enthusiasm.
SunRun, the San Francisco-based solar financing pioneer, raised $250 million (Dh918 million) in an initial public offering Wednesday, but shares fell 13 per cent. Late last month SunEdison bought the rooftop installer Vivint Solar for $2.2 billion, but SunEdison shares have fallen 28 per cent since. Still, SunRun was able to raise the amount it had hoped to, and the price for Vivint was high, signalling to analysts that despite the recent bumps, rooftop solar remains promising. “One [rooftop solar company] priced in the middle of its range and another sold for $2.2 billion. Things are very good in residential solar,” said Shayle Kann, an analyst at GTM Research.
Published: 6th August 2015
Read more: http://gulfnews.com/business/sectors/energy/solar-deals-are-hot-but-investors-fret-1.1562333
Other Sectors
Air India’s additional baggage scheme for students
Gulf News.com
National carrier Air India on Monday said it has rolled out an additional baggage scheme for students travelling to the US, UK, Europe and Canada for higher studies for a limited period. Under the scheme, Maharaja Scholars, student travellers would be allowed to carry an extra piece of luggage weighing up to 23kg, in addition to the current check-in baggage allowance of one piece of luggage for the UK and Europe, or two pieces of luggage for destinations in the US and Canada, Air India said in a release. Maharaja Scholars offer is available for students travelling from India to international destinations on a valid student/student exchange visa, it said.
Published: 11th August 2015
Follow: http://gulfnews.com/business/aviation/air-india-s-additional-baggage-scheme-for-students-1.1564651
Politics & Economy
Sensex likely to treble your money in 10 years; can top Mount 100K
Economic Times
The S&P BSE Sensex is likely to sweep past 100,000 in the next 10 years, led by sustained incremental growth in corporate earnings, experts say. “The visibility of sustained corporate earnings growth is far higher in India vis-a vis other developed markets as economy picks pace,” Jimeet Modi, CEO, SAMCO Securities, says. If the government expects India to become a $5 trillion economy in 10-12 years, it would translate into a big surge in domestic equity markets as well. Analysts advise investors to stay put in equities to ride the momentum on the upside. The index has remained more or less flat in the year 2015, weighed down by global as well as local factors. But experts feel that the uptrend remains intact, and investors should stay put in equities. Investors would be thrilled to know that the S&P BSE Sensex has returned nearly 600 per cent in the last 15 years. If an investor plans to invest Rs 10,00,000 in the index at current levels, the money could swell Rs 30,00,000 in 10 years.
Published: 13th August 2015
Foodstuff costs shoot up in UAE after fuel price hike
Khaleej Times
Prices of foodstuff have gone up considerably across the country after fuel prices were hiked earlier this month. A top Ministry of Economy official, however, denied any rise in prices. In fish markets – especially in Fujairah and Ras Al Khaimah – prices have shot up, with one piece of barracuda fish costing Dh65, as opposed to the usual Dh35. A 45-kg box of sheri fish (spangled emperor) is going for Dh1,200 as opposed to the usual Dh400; while safi (rabbitfish) is sold for Dh65 per kilo as compared to Dh35-Dh40. Prices of jash and kover fishes have gone up from Dh25 per kilo to Dh35.
Published: 13th August 2015
Read more: http://www.khaleejtimes.com/business/economy/foodstuff-costs-shoot-up-in-uae-after-fuel-price-hike
China devalues yuan again, sending shock waves and mixed signals
The Hindu
Following Tuesday’s 1.9 % devaluation of its currency, China lowered its “daily fix” of the yuan to 6.3306 per US dollar, a further decline of 1.6%. The yuan is allowed to trade at plus or minus 2 percent around this midpoint. Wednesday’s move pushed the yuan down by another 1.4 percent to 6.4151 in onshore markets. Markets have been rife with rumours about China wanting to exacerbate a currency war. Wednesday’s move comes after Ma Jun, Central bank economist said via the People’s Daily, the official newspaper of the Chinese Communist Party that Tuesday’s 1.9% devaluation of the yuan by China should be seen as a one-off move to enhance the currency’s market orientation, and should not be read as the beginning of a devaluation trend. The People’s Bank of China (PBoC), on Tuesday had lowered the yuan’s ‘daily fix’ by 1.9%, sending ripples across the globe, both in terms of exchange rate and market movements and in terms of discussion and speculation about China’s motives for the decision. Mr Jun’s comment should allay some fears of the United States, which reacted cautiously to China’s move on Tuesday. “While it is too early to judge the full implications of the change…China has indicated that the changes announced today are another step in its move to a more market-determined exchange rate,” Reuters quoted a U.S Treasury official as saying on Tuesday. However, Wednesday’s second devaluation will not allay those fears and is likely to bolster the view that this is the beginning of a sustained devaluation.
Published: 13th August 2015
PM Narendra Modi eyes UAE’s $800 billion sovereign fund to boost infrastructure spending
Economic Times
Narendra Modi, whose foreign visits over the past year was aimed at attracting much needed foreign investment to boost the economy, would try to lure a share from $800-billion sovereign fund of the UAE for infrastructural needs as well as give momentum to Bilateral Investment Protection Agreements (BIPA) that has not functioned to its potential to attract investments. Buoyed by the oil economy, UAE sovereign wealth fund is estimated at over $800 billion and Modi would like to attract part of this fund, imperative for the country’s infrastructural needs estimated at one trillion dollars, officials hinted. Currently, the UAE investments in India are estimated to be $8 billion of which around $3.01 billion is in the form of foreign direct investment, while the rest is portfolio investment. UAE’s investments in India are concentrated mainly in five sectors: construction development (15.52%), power (13.09%), metallurgical industries (9.90%), services (9.58%), and IT (4.90%) sectors.
Published: 13th August 2015
Energy, bilateral trade to be on top of Modi’s agenda
Gulf News
Energy sector and increase in bilateral trade is likely to be on the agenda of Narendra Modi as he begins his two-day visit to the UAE from August 16. The bilateral trade between the two countries stands at $60 billion (Dh220 billion) for the year 2014-15. India is the largest trading partner for the UAE with over $28 billion in non-oil trade. Though there is not much direct investment by India into the UAE energy sector, it might try to increase its presence, Robin Mills, Head of Consulting at Manaar Energy in Dubai said. He said the UAE renewable energy sector is a potential area due to the expansion of Indian solar power companies. According to Mills, Indian infrastructure, ports and energy are all priority sectors requiring investment, where the UAE may seek to be involved. “The Indian gas production and power generation are possible areas for companies such as Mubadala, International Petroleum Investment Company (IPIC) and Taqa,” he said. According to details furnished by the Indian Embassy, Abu Dhabi’s National Petroleum Construction Company has won a major engineering and construction contract to build offshore platforms from India’s Oil and Natural Gas Corporation (ONGC) valued a Dh550 million.
Published: 13th August 2015
Half of remittances from UAE go to India
Khaleej Times
Nearly half of annual individual overseas money transfers from the UAE are towards India. In 2014, individual remittances from the UAE to India — the largest receiver of remittances in the world — rose to between $12 billion and $15 billion. This figure is not inclusive of export earnings, foreign direct investment and foreign institutional investments, according to Sudhir Kumar Shetty, president of the UAE Exchange. The UAE is the host to 2.65 million Indian migrants. In the UAE, which is home for over 200 nationalities, mainly eight countries — India, Egypt, Pakistan, Bangladesh, Indonesia, Philippines, Sri Lanka and Yemen — together accounted for $26.607 billion of the total remittance of $29.25 billion. Remittances from Kuwait and Qatar were $12 billion and $9.5 billion respectively, while smaller transfers were made out of Oman and Bahrain, a report said. Around 25 million expatriates live in the GCC states — almost equal to the native population. India received $70.39 billion in remittances from across the world in 2014. That is ahead of China, which got $64.14 billion, and more than all the remittances received by the Philippines, Mexico and Pakistan combined. The Philippines ($28 billion) came third, followed by Mexico ($25 billion) and France ($25 billion).
Published: 13th August 2015
Read more: http://www.khaleejtimes.com/business/economy/half-of-remittances-from-uae-go-to-india
Community, Environment & Society
Indian prime minister’s visit to renew UAE-India bonds
Gulf News
The Indian community in the UAE expects the visit of Indian Prime Minister Narendra Modi to strengthen the age old historical, social, cultural ties between the two countries. From as early as the 13th century AD, the seaports in the Gulf from Aden to Dubai were popular trade spots for seafaring businessman from the Indian states of Sindh and Saurashtra. They traveled and lived at these ports trading in textiles, spices, rice, pearls and precious stones and livestock among other things. Arab dhows got the teak wood from India and the pearl divers sold pearls to Indian jewellers in exchange for food, textiles and other goods before cash transactions became the normal practice. Veteran spokesperson of the Indian community in Dubai, Bharat Bhai Shah who came to Dubai in the early seventies said: “Those days all traders of the coastal areas of Gujarat — Saurashtra, Porbandar and other places, travelled to the Gulf countries. Aden in Yemen and Dubai were popular. It was easier for traders from northern India to pick up Arabic as many Persian words are included in the colloquial Hindi language. Even Ibn Battuta, the ancient Arab traveller has mentioned meeting Indian traders during his travels. I can see these old ties being renewed after three decades of drought,” said Shah who came to Aden as early as 1948 as an Indian houseboy and worked his way up to become a successful Indian businessmen in Saudi Arabia and finally in the UAE.
Published: 13th August 2015.
Dubai launches world’s first breeding programme for endangered sand tiger sharks
Thenational.ae
An ambitious new breeding project has been launched as an “insurance policy” to protect the future of the threatened sand tiger shark. In a world first, Dubai Aquarium and Underwater Zoo has initiated an assisted breeding programme for the species, of which there are only 1,500 estimated to remain in the wild. The long-term project will develop technology that could eventually be used to artificially inseminate various species of sharks. “Artificial insemination has already been used on brown-banded bamboo sharks with a pup successfully born from an egg,” said Paul Hamilton, general manager and aquarium curator. “But this is the first time the technique is going to be applied to sand tiger sharks, which give birth to pups in the womb, so it’s a real world first.” The groundwork on the science has been done at Sea Life in Melbourne, Australia, and Dr Jon Daly, who is involved with that nine-year research, will lead the project in Dubai as a research consultant. A full-time research vet will also be on hand to support the project at Dubai Aquarium.
Published: 12th August 2015.
Technology
Innovation ‘holds the key to our progress’, says Sheikh Mohammed bin Rashid
The National
Innovation is the driver of progress, and governments and businesses that fail to innovate will go backwards, Sheikh Mohammed bin Rashid warned on Wednesday. The Vice President and Ruler of Dubai was launching National Innovation Week, which will take place from November 22 to 28. Sheikh Mohammed urged all public, private and academic entities to participate and called on the public to get involved through social media by brainstorming inventive ideas and projects that will establish the week as the most important destination for innovative and creative thinkers. “Innovation today is not an option but a necessity, not a general culture but business style. Governments and companies that do not renew or innovate lose competitiveness and control. They are bound to regress,” Sheikh Mohammed said. “We have doubled our investments in innovation and in the equipment, training and education of expert national cadres, because keeping pace with the world around us requires innovative resources and an environment that is supportive of innovation.” Innovation Week is expected to be a launchpad for the announcement of leading public and private sector initiatives as it hosts government, research, academic and school events and activities. It will also include workshops, seminars and creative laboratories meant to spark new ideas and re-evaluate established inventions achieved throughout 2015, which has been named as the Year of Innovation.
Published: 5th August 2015
Facebook plans new ad strategy for India
Khaleej Times
Facebook is trying to lure skeptical advertisers in India with features such as free email support for questions about advertising and advice on increasing sales in a bid to boost revenue from its second biggest market. Facebook has 132 million users in India, trailing only the 193 million in the United States, according to the company, and the country is critical for the Menlo Park, California, social network’s global expansion. But so far, the payoff has been small: Facebook earns 15 cents per user in India every quarter, compared to the $7 to $8 it makes on each US user, according to analysts. Facebook does not break out its revenues in India, but Neil Shah, an analyst at Counterpoint Research, a Hong Kong-based technology consulting firm, estimates it brings in $15 million a quarter, far behind the $350 million he estimates Google earns there per quarter. Google, which set up in India in 2004, has been in the Indian market six years longer than Facebook, and its search ads are more familiar to advertisers there than the display ads Facebook offers. The business-boosting features, described to Reuters by company executives and Indian business people, are aimed at advertisers such as Mohit Khattar, managing director at online grocery company Godrej Nature’s Basket, one of the roughly 60 to 65 million small- and medium-sized businesses in the country.
Published: 13th August 2015
Read more: http://www.khaleejtimes.com/business/technology/facebook-plans-new-ad-strategy-for-india
Education+
National Digital Library on the cards
The Hindu
At a time when the Government of India is pushing for a ‘Digital India’, the Indian Institute of Technology Kharagpur (IIT-KGP) is in the midst of developing the National Digital Library (NDL) which will help students access all digitised educational content on a common platform. The content required to build the NDL will be derived from the libraries of educational institutions from across the nation. The main aim of the project is to create a knowledge base for students belonging to all ages, explained Partha Pratim Das, joint project investigator and professor at the computer science and engineering department. “Every educational institution has its own content which is available exclusively for its own students and staff. Our aim is to digitise such content and bring it under an umbrella, thereby, making it accessible for students all over the country. We have started off by integrating content which is already digitised by universities and are streamlining it to a common platform,” Prof. Das said.
Published: 8th August 2015
Read more: http://www.thehindu.com/features/education/national-digital-library-on-the-cards/article7516110.ece
Sports – Campaign PASS
Campaign PASS (Promote All Sports Simultaneously) is an initiative started through my blog to promote all sports(other than cricket – which gets lot of attention) and sports personnel associated to give them more exposure.
It is all in the mind
The Hindu
One day in 2006, Ian McDonald came across a story on blind chess players in a newspaper. As a sports sociologist and filmmaker the idea of blind people playing the game intrigued him. He asked his wife Geetha and a couple of chess players about it but they had no idea. He kept the clipping in his wallet and it stayed with him for two years. “In 2008 I met Charudutta Jadhav, a former star player and head of All India Chess Federation for The Blind. It opened a new world for McDonald. Charu took him to the national championship in Mumbai and what he saw was an “amazing underexposed but thriving community of blind chess players.” McDonald went back to his wife and thus started the journey of Algorithms, a stirring independent feature length documentary that simplifies the game of complex calculations into a lyrical celebration of indomitable spirit. The film also evokes a strange sense of humour when Darpan asks a foreign player about the level of his vision loss and when he says that he is 100 percent blind with just a little perception of light, Darpan feels elated and expresses a sense of solidarity.
“We are very conscious while interacting with blind people. We avoid phrases like ‘see you later’ but having spent three years in the blind world I realise that it is a routine matter for them. In fact, often, their conversation starts with the level of blindness and the players who are 100 percent blind have a sense of pride.”
At the end of the day, McDonald admits, he is a white English speaking man and had to seek the help of his producer wife Geetha, who has a journalistic background, to get the families open up. In a scene Darpan’s mother walks out of the frame while talking about the days when Darpan suffered from a rare syndrome which resulted in his skin peeling off. “It was the first time that the parents opened up about it after a long time. We decided not to follow her or question her even as the father continued to narrate the experience. We didn’t want to pity them or sensationalise the experience.” On a personal level, the film made the filmmaker question the whole idea of disability. “After the day’s play I used to follow the players into their hotel rooms for the post mortem. They would start chatting and I would stop them to draw the curtains to get the right light. One day Charu said, ‘it is your problem, your disability we want to discuss.’ It made me realise that disability is a very relative word,” sums up McDonald.
Published: 12th August 2015
Read more:
http://www.thehindu.com/features/metroplus/it-is-all-in-the-mind/article7531096.ece
Hope you enjoyed reading the above news items and links. More sections will come as it take shape and interest. Your response to this initiative is highly appreciated.
Regards,
Ramesh Menon, Abu Dhabi
14th August 2015
ClicksandWrites 
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