Adobe India doles out up to 200% bonus

BANGALORE: At Adobe's India centre, bonuspayouts are not just linked to meeting key result areas (KRAs) or targets, but also to how innovative employees have been through the year. 

This year, the company doled out bonuses up to 200 per cent, a reflection of the firm notching up 200 patent applications to its name over the years, second only to the number of patents applied from its US office. 

The company has 40 per cent of its global research and development talent in India and one of its most profitable global business units, the firm has five in total, is fully managed here. 

"In India, the opportunity for us is talent arbitrage, not cost arbitrage. We choose the best people from the highest ranked colleges like the IITs and other tier I technology schools and make every effort to keep them together," says Jaleel Abdul, senior director, human resources, Adobe Asia-Pacific. 

To keep the flock together, the company is paying top dollar for top-notch talent, 50-60 per cent higher than most other tier I firms. It has promoted 30 per cent of its engineering staff last year and ensured that employees have full ownership of products that are commercialised and are not involved with just a part of the product, as is often the case with global technology firms which has research centres here. 

Employees also get customer feedback on products. Adobe pumps in significant resources to see a patent application through to its end, a process that could take several years and keeps its employees updated through the process. "A patent is a measure of technical excellence and that probably is the biggest high. It is about saying I invented something no one else thought of before," Abdul said. 

"The annual incentive plan or bonus payouts are based on the company's performance and individual performance. Performance is measured with reference to the Leading to Win criteria which includes thought leadership, results leadership, people leadership and personal leadership. The payouts are contingent on differentiated value added by recipients on all four quadrants of Leading to Win criteria. In addition to this, the company also gives out significant special bonuses to employees who work on innovative ideas that get patented," he added. 

The company has seen a significant increase in the number of patents it has been applying for every year. A growing headcount is also lifting the number of the patent filings, now at almost one every year. 

At a time when most technology firms have been a grappling with huge churn, Adobe says attrition has been in single digits and one sign of employees staying with the company for long periods is that today is because large part of its leadership team has come through the campus route. 

Adobe has also increased hiring significantly this year. It has 1,800 employees and has been increasing headcount at 15-17 per cent a year in the past. In the first three months of this year the company has already hired 350 people.

Source: http://timesofindia.indiatimes.com/tech/news/software-services/Adobe-India-doles-out-up-to-200-bonus/articleshow/8087920.cms

Sai Baba to be buried on Wednesday, 5 Lakh expected for funeral

PUTTAPARTHI: One of India's most revered spiritual leaders with a following of kings and commoners alike, Sri Sathya Sai Baba, passed away on Sunday morning at 7:40 am of cardio-respiratory failure at the Sri Sathya Sai Institute of Higher Medical Sciences here. He was 85. 

Sai Baba's death was announced at 10.15 am by hospital director Dr A N Safaya, who said, "Bhagwan Sri Sathya Sai Baba is no more with us physically. He left his earthly body on April 24, 2011, at 7.40 am due to cardio-respiratory failure." He was admitted to the hospital 28 days ago with cardiac problems and his condition deteriorated with many of his organs failing. 

The Baba's body will lie in state at Sai Kulwant Hallin Prasanthi Nilayam Ashram until Tuesday for his devotees and followers to have a last darshan. He will then be buried close to his Yajur Mandir residence on Wednesday in line with the practice adopted for Hindu spiritual leaders. Sanyasis are said to symbolically submit their bodies to fire at the time of renunciation by donning saffron or flame-coloured robes. 

"The exact time of burial will be announced later," said Andhra's industries minister Geeta Reddy. Five lakh people are expected for the funeral that will include national and international dignitaries.

Before announcing Sai Baba's demise, the police ordered a complete shutdown of Puttaparthi. All shops were closed and roads barricaded. Those arriving from Bangalore (barring mediapersons and government officials) had to stop 8km out of town. 

"His body was wrapped in orange clothes and covered up to the eyes. Nobody uttered a word. Everybody wept," said Sai Kumar, 33, a local businessman and a devotee. "I spoke to him on March 18 for two minutes and took his photograph," he said, tears rolling down his cheeks. 

At 3 pm, the body was shifted to Sri Kulwant Hall in Prasanthi Nilayam (the highest abode of peace), where Sathya Sai Baba gave discourses and met devotees daily for over four decades.

Source: http://timesofindia.indiatimes.com/india/Sai-Baba-to-be-buried-on-Wednesday-5-Lakh-expected-for-funeral/articleshow/8076038.cms

Nimble-footed desi managers go global

DELHI: Rakesh Kapoor's appointment as CEO-designate at UK-based Reckitt Benckiser adds to the growing list of Indians joining the elite club of global CEOs. The elevation of Indians may be because of the clout of the region ( Asia), which is being looked upon by MNCs as the biggest growth driver, or because desi managers have proven to be capable leaders, the fact remains that the Indian leadership quotient in Global Inc has gone up significantly. 

"Indian managers, especially those who have worked in India, are versatile and capable leaders. They know how to compete with the international as well as local low-cost competitors," said M S 'Vindi' Banga, operating partner, Clayton, Dubillier & Rice LLP, a PE fund. According to Banga, who was formerly president (foods, home and personal care),Unilever Plc, Indian managers mature in a very uncertain and volatile environment, where they face challenges of changing regulation, poor infrastructure and labor issues, and thus become versatile and nimble; compared to Western managers who only need to worry about the market and competition. 

According to Banga, Indian managers are good leaders as they understand power of relationships with people. Banga, who knows Kapoor well, said that Rakesh is an outstanding professional and combines this with a very down to earth pragmatism and unassuming manner. Management gurus and HR head honchos, who are on the hunt for this kind of leaders, also share Banga's views. "Today, the leadership aspect of an Indian origin is much respected unlike the days when the Americans, Europeans and Japanese more or less controlled senior roles in the company's management," said R Suresh, MD, Stanton Chase, an executive search firm. He added that for someone like Rakesh Kapoor to take top most position at Reckitt is an indication of sectors like consumer goods seeing India as the biggest consumption story in world. "This is the best place to launch new products and from where the big chunk of sales will come therefore, someone like him can drive the strategy around new growth markets," said Suresh. To be brought up in a multi-cultural environment helps, said Abraham Koshy, professor of marketing at IIM Ahmedabad. "The emerging markets will require somebody to understand the nuances and the backgrounds that Indians come from helps," said Koshy. 

"For anybody to be selected as a global CEO, competence matters the most. Indian CEOs who have gone global have the advantage of having been through a filtration process, be it getting good education, working in a good multinational company or performing well there," said Koshy.

Source: http://timesofindia.indiatimes.com/business/india-business/Nimble-footed-desi-managers-go-global/articleshow/7987026.cms

Shah Rukh Khan abandons Twitter, joins Facebook

Even as almost every big Bollywood star has been active on micro-blogging site Twitter, actor Shah Rukh Khan seems to have abandoned it (his last tweet, as appearing on the site on Monday, was posted on January 2).

Having over 8 lakh followers on Twitter, the news might shock his fans but SRK has joined popular social networking site Facebook instead. He however said that he would go back to Twitter as he has promised to do so.

"I went on Twitter for two reasons -- one, Karan told me and... I'll go back to it because I have promised one gentleman," SRK told Headlines Today recently admitting abandoning the micro-blogging site.

Reasoning it he said, "I have enough faces and names not liking me and saying it on my face. I'm ok with that, I can deal with that. But when it became nameless and faceless people saying things to me 'oh you are saying this because this is the agenda attached to it'... because people like to believe that if you are a movie star then you are manipulative, you have some agenda, that's why you are talking about."

"Like, suppose I write '@India Today Conclave having fun', somebody would write 'oh he is trying to show off that he was called to India Today Conclave and somebody else wasn't' or something nonsense. I started finding it ochha (cheap). I said I'm not going on this (Twitter). And there are only two people maybe out of 100 who are saying this but I'm over sensitive," Khan added.

Asked if he would be back on Twitter, the actor referred to a recent interview wherein he had promised to do so.

On the other side, SRK recently surprised his fans by joining Facebook. His Facebook page was inaugurated on Sunday with the online premiere of his 22-minute documentary on Mughal-e-Azam, which celebrates 51 years of the classic directed by K. Asif.

Khan would also be promoting his upcoming film Ra.One on Facebook.

Source: http://indiatoday.intoday.in/site/Story/133007/movies/shah-rukh-khan-twitter-facebook-ra.one.html

Hillary warns US against abandoning Pakistan

Washington: US Secretary of State Hillary Clinton has warned America against walking away from Pakistan, reminding that the consequences of abandoning the country had always been disastrous. 

After talking about Afghanistan, Hillary told the House Appropriations Subcommittee on State, Foreign Operations, and Related Programs: “Equally important is our assistance to Pakistan.” 

“We are trying to deepen our relationship. There are many challenges confronting us, but we know what happens when we walk away from Pakistan. We did it before, and the results, unfortunately, were quite dire for us,” she added. 

Referring to a 16 percent cut imposed by the House of Representatives on US foreign assistance last month, Hillary told the congressional panel: “It will be very difficult for us as we are now planning our civilian efforts in an ongoing way in Iraq, Afghanistan, and Pakistan to absorb a 16 percent cut that passed the House last month.” 

“We’ve got to do our part with the military. And I know that what is often the case is we talk about non-defence discretionary,” she added. 

The US State Department is seeking USD 8.7 billion next fiscal year to fund its vital civilian missions in Afghanistan, Pakistan, and Iraq. 

“We do have al Qaeda under pressure as never before. The military surge and our civilian surge – because when I became Secretary of State, we had 300 civilians in Afghanistan, and most of them were on six-month rotations. We were not doing our part to be a good partner to our military colleagues,” said Hillary. 

“We now have nearly 1,200 civilians, and they are there day in and day out, and they are in some of the roughest terrain you can find anywhere. Our military commanders literally tell me every week that we cannot succeed without a strong civilian partner for our military efforts,” she added. 

Read more: http://www.zeenews.com/news692599.html#ixzz1GGxvMuBZ

Rani plays hard to get after last film's success

No one Killed Jessicamight have been a hit, butRani Mukerji is still in no mood to sign films left, right and centre. She has also slimmed down a lot, but has been making it clear to all that she doesn't want to sign several films in one go.

In the past, Rani signed some films which did not fair well at the box office, nor give any push to her career. This is the reason why she has reportedly become very choosy these days.

A source says: "Rani has given very clear instructions to her staff that she would not take roles only for the sake of it. She has been reading scripts far more seriously and is very picky about what her character would be." Rani has just signed the yet untitled film directed by Reema Kagti, which also stars Aamir Khan and Kareena Kapoor, solely because of her role, which is scripted well.

Rani was keen on working with Aamir after a gap of several years. They last appeared together in the film Mangal Pandey. So, Rani was eager to be seen again with Mr. Perfectionist. Besides this, her staff is tactfully turning down offers that come her way. She doesn't want to offend filmmakers, but at this point, Rani is clear that she will not sign films only for the sake of friendship.

Source:-http://indiatoday.intoday.in/site/Story/131701/movies/rani-plays-hard-to-get-after-last-films-success.html

Pakistan seeks information about Rahat Fateh Ali Khan's detention in India

Interior Minister Rehman Malik on Sunday directed Pakistan's High Commissioner to India Shahid Malik to enquire about the detention of well-known singer Rahat Fateh Ali Khan at the Indira Gandhi International Airport.

Rahat Fateh Ali Khan

The minister is examining the matter, said an official statement issued hours after Khan was detained at the airport in Delhi on charges of carrying a large amount of undeclared foreign currency.

Malik telephoned the Pakistani High Commissioner and asked him to monitor the matter, the statement said.

Khan, 37, is the nephew of legendary Pakistani qawwali singer Nusrat Fateh Ali Khan and has recorded many hit songs for Bollywood movies. He regularly performs in India and was on his way back to Pakistan after a series of concerts when he was detained.


Source:-http://indiatoday.intoday.in/site/Story/129739/top-stories/pakistan-seeks-information-about-rahats-detention-in-india.html

SABCONS Project Management Consultants

Source: Cities-Dec10

Pratt & Whitney to step up component sourcing and form 5 manufacturing JVs

Bangalore: Aircraft engine maker, Pratt & Whitney, a United Technologies Corp company, plans to step up sourcing of components from India. The company is currently working with 16 Indian engine parts suppliers.

Pratt & Whitney is also holding discussions with five Indian companies to form joint ventures for manufacturing engine parts in India. One of these joint ventures could be announced sometime next week, said Vivek Saxena, country manager, Pratt & Whitney.

The company plans to double the headcount at it's sourcing office in Bangalore to about 80 people in three years. It's local sourcing of components and engineering services will increase 10-fold by 2014, to around $150-200 million a year from the current $15 million.

Pratt & Whitney is also exploring partnership opportunities with L&T, the Tata Group and other companies. The company is working with it's suppliers in India to bring them up to the required quality standards.

Boeing Company and the Indian Air Force reached preliminary agreement on the purchase of 10 C-17 Globemaster III military transport aircraft, and are now in the process of finalizing the details of the sale. The preliminary agreement represents the purchase of approximately 45 engines for Pratt & Whitney.

Pratt & Whitney's F117 engine, powering the Boeing C-17 Globemaster III airlifter, recently exceeded 8 million engine flight hours. "This landmark milestone is a testament to the efficiency of the F117 engine," said Bev Deachin, vice president, Military Programs and Customer Support, Pratt & Whitney.

The C-17 Globemaster III – the world's premier heavy airlifter – is operated by four F117 engines. The F117-PW-100 first entered service in 1993 and is a derivative of Pratt & Whitney's PW2037 commercial engine powering the Boeing 757. Pratt & Whitney has delivered more than 1,050 F117 engines worldwide, including 82 with international customers.

According to reports, General Electric and Rolls-Royce have proposed an alternate engine for the aircraft.

United Technologies's Sikorsky Aircraft Corp expects Indian demand for helicopters to reach $21.4 billion in the next 20 years. "The market may become the world’s largest in terms of unit sales," said Steve Estill, vice president of strategic partnerships.

Source:-http://machinist.in/index.php?option=com_content&task=view&id=3072&Itemid=1

Ties with U.S. on course: Islamabad

ISLAMABAD: Amid reports suggesting that the U.S. has put bilateral meetings with Pakistan on hold till Islamabad releases its “diplomat” arrested for gunning down two Pakistanis in “self-defence', the spokespersons for both countries maintained that the relationship was on course.

While there were strong indications that contact between the U.S. State Department and the Pakistan embassy in Washington had been snapped and upcoming bilateral engagements were in peril, the official line from both countries sought to contradict this. Maintaining that “we continue to have contacts with the Pakistanis'', U. S. embassy spokesperson flagged Monday's meeting of Ambassador Cameron Munter with President Asif Ali Zardari as a case in point. The spokesperson also quoted from the daily briefing of Assistant Secretary of State P. J. Crowley in Washington on Monday when he said in response to similar questions that “we continue to have contacts with our Pakistani counterparts, and we continue to emphasise the importance of resolving this case''.

As for Pakistan, Foreign Office spokesman Abdul Basit said relations were anchored in mutual interest and mutual respect. “Both our countries are committed to further strengthening the bilateral relationship to our mutual benefit. Our relations are mature enough to navigate through difficulties. We must not lose focus of the strategic imperatives of Pak-U.S. relations.''

Asked what the U.S. proposed to do if Pakistan does not yield, the embassy spokesperson remained non-committal saying “we will continue to work with the Pakistani government to resolve this issue''. But , questions are being asked about the fate of the upcoming ministerial-level trilateral conference of Afghanistan, Pakistan and the U.S. later this month; particularly since Secretary of State Hillary Clinton is understood to have cancelled a scheduled meeting with Foreign Minister Makhdoom Shah Mahmood Qureshi on the sidelines of the Munich Security Conference last week.

Adding to the woes of the Pakistan government, the provincial dispensation in Punjab — where the shooting took place and the case is registered — dug its heels in on Tuesday; asserting that it would not succumb to any kind of pressure.

Source:-http://www.hindu.com/2011/02/09/stories/2011020965242100.htm

Gautam Gambhir: Fire all the way

If cricketers won bravery awards for on-field exploits, Gautam Gambhir would be hard to beat. So it's a frightening thought that India might never have discovered the real Gambhir if he'd been consigned to plodding away in the domestic arena. Maybe, Gambhir wouldn't have discovered himself. 

Even here, though, when the world was yet to wake up to his immense fighting ability, his Delhi teammates and opposition players would talk of him in awe. They alone knew the inner steel that drove him, and his immense belief in himself. Sometimes, the veneer of self-doubt would peel away and the real Gambhir would emerge, like in the 2007 Ranji season when he rode roughshod with the bat and as captain, was extremely aggressive throughout. Especially on opposition tail-enders, who would find themselves facing a barrage of chatter, with an animated Gambhir exhorting his bowlers to pepper away the short stuff. 

Delhi's players are known for many things, but being khadoos isn't one of them. Before international stardom, Gambhir brought Mumbai's street-fighting qualities into Delhi's flamboyant approach on the field. It's a quality which helped him survive an immensely low period nearly four years back, when repeated snubs from selectors, a realization of his technical shortcomings and fear of injury threatened to tear his life apart. He even contemplated quitting the game. 

Today, as one of the fundamental cogs in Team India's wheel, he personifies the unit's new-found grit. It's a case study in determination. From being dangerously close to a journeyman, Gambhir has worked his way into being the most improved Indian cricketer of the past decade. He has surprised everyone along the way, except those who witnessed this stubborn streak from close quarters. He stands an inspiring presence among a bunch of world beaters. 

On the face of it, Gambhir is the most unassuming face of an enviably starry lineup, but don't let that fool you. Off the field, he is endearing, humble and cultured. On it, he doesn't have the towering talent of a Tendulkar. Not for him the maverick genius of a Sehwag. He can't entertain or explode beyond belief like a Yuvraj either, or yet provide the assurance of a Dravid or Laxman. 

Yet the fire rages within. Gambhir is a busy player with an iron will who works away like a man possessed. Once he makes up his mind to prove a point, he will not be denied. His effective presence in all three formats makes him arguably the most valuable player in the squad heading into the World Cup. 

Busy, efficient and incredibly flexible of approach, once he had worked out how to avoid falling over while playing on the on-side, and learning which balls to leave outside off, he discovered hidden dimensions to his batting. The volatile temperament was kept well leashed. 

This new Gambhir would confidently stand outside his crease to negate the swing. He would stand and stonewall, like at Napier, and provide uncanny consistency. He would take on the Aussies at their own game and shed the baggage of throwing his wicket away after good starts. The insecurity and uncertainty gradually faded away. 

What makes Gambhir special: 

Twinkle-toed: Talk about Gambhir's batting and what instantly comes to mind is his uncanny and uncommon (among most Indian batsmen) ability to step out of the crease to fast bowlers. That ability alone makes Gambhir appear more complete as a batsman than others. However, what is further unique is that he plays spinners equally well if not better than the best in business. His lofted extra-cover drive is worth going miles to see. 

on-side God: There's not one shot that you can associate Gambhir with. But if a trademark has to be chosen then it is his ability to send any full-length delivery — bowled at his legs - scorching through the on-side between long-on to deep fine-leg. 

Goodbye risk: Gambhir is fast learning the art of reducing risks while batting, an ability you associate Sachin Tendulkar with. That in turn has increased his chances of staying longer at the crease. While Gambhir can play most cricketing shots with ease, his ability to leave alone a delivery if he's unsure about adds meat to his batting.

Source:-http://timesofindia.indiatimes.com/sports/cricket/world-cup-2011/profiles/india-profiles/Gautam-Gambhir-Fire-all-the-way/articleshow/7448587.cms

Delays hit homegrown Awacs as Pak races ahead

NEW DELHI: India's indigenous Awacs (airborne warning and control systems) or "eyes in the sky" project has been hit by delays even as Pakistan is fast closing the technological gap in this arena with China's active help. 

Moreover, IAF's proposal to acquire two more Israeli Phalcon Awacs, after the first three were contracted under the $1.1-billion contract inked in March 2004, is yet to gather full steam. "There is in principle approval for two more Phalcon Awacs but negotiations are still in progress," said a top defence ministry source. 

Awacs or AEW&C (airborne early warning and control) systems can detect incoming hostile cruise missiles and aircraft much before ground-based radars, as also act as potent force-multipliers by directing air defence fighters during combat operations with enemy jets. They can also track troop build-ups far away in enemy territory. 

The critical requirement for Awacs had led the Cabinet Committee on Security, chaired by Prime Minister Manmohan Singh, to clear the Rs 1,800-crore indigenous project in October 2004, barely six months after the Phalcon deal. 

The CCS had then set a time-frame of seven years for development of the homegrown mini- Awacs, under which AEW&C systems developed by DRDO are being mounted on three Embraer-145 jets obtained from Brazil for $210 million. 

But these AEW&C planes are nowhere near even beginning their flight trials. The project completion date has now being extended to April 2014, which itself is set to be revised. "The aircraft and mission system availability is now scheduled for this year, with the integrated system availability pushed back to 2013," said a MoD source. 

Once operational, these aircraft are slated to have a normal radar range of 250 km and a 375-km extended one, with a 240-degree coverage and five-hour endurance time. 

The Phalcon Awacs, with a detection range over 400 km, too, have suffered from technical glitches. Under the complex project, the Israeli 360° Phalcon early-warning radar and communication suite has been mounted on Russian IL-76 heavy-lift military aircraft. 

The first Phalcon Awacs was originally scheduled for delivery in December 2007, with the second and third ones following in September 2008 and March 2009. But the first arrived only in May 2009 and the second in March 2010, with the third yet to be delivered. Awacs are a crucial element in the plan underway to set up five nodes of IACCS (integrated air command and control system) across the country.

Source:-http://timesofindia.indiatimes.com/india/Delays-hit-homegrown-AWACS-Pakistan-races-ahead-with-China-help/articleshow/7446009.cms

This will be the decade of social business

Reflecting on the trends of social media including Facebook statistics, I am getting convinced that this decade will be the era of social business.

Till now, the relationship between business and social was used to signify that could fulfill social objectives. Poverty alleviation was the platform, social uplift was the mechanism and Nobel Prize winner Professor Muhammad Yunus was the poster boy. The Grameen Bank where the borrowers could become shareholders and investors getting their money back over the long term, sans dividends was considered the business model.

With the growth in social media and its use even in political uprising, it has become necessary to redefine the social business concept.

The social business has to embrace social networks (i.e. networks of people with varying ties and relationships) and create business value. Till now, companies have watched the growth surge of Facebook’s numbers and some have used it as a personal platform or considered it as an emerging advertising platform. I think the time has come for companies to rethink about the social platform and see how it can be used to enhance corporate efficiency or build new relationships with various stakeholders of the firm.

At SPJCM’s HR conclave, I presented how social media can be used by HR personnel for their various applications. While the audience predominantly comprising of senior HR professionals were appreciative of the potential of social media, many were skeptical about the results, since they didn’t know how to deploy it or measure the impact.

This is not new. I distinctly remember how E-Business got started during the mid nineties. Several forward looking organizations started pilot initiatives just to understand the relevance and possibilities of E-Business. There was excitement and skepticism. It was only when IBM threw its hat in the ring that E-Business became acceptable to the businesses — both big and small. IBM with its advertising campaign appealed to all businesses to consider web-enabling all their applications, integrating databases and process transactions from customers, suppliers and employees. For a long time, IBM didn’t develop any core technology in E-Business but still managed to garner most of the mindshare.

Following IBM (and perhaps more as a competitive move), Oracle announced the E-Business suite. This became successful as well and both companies rode the E-Business wave for several years to come.

The social business or S-Business is now at an inflexion point. I have seen several point solutions in social CRM, social collaboration suites, Web 2.0 platforms, but I have yet to see a major technology firm make an attempt to grab this space with a complete suite. Even IBM which was successful with its E-Business initiatives seems to be tentative about the S-Business. IBM launched the Lotus Connections recently and seem focused on collaboration.

Learning to work in virtual environments has become the de-facto norm in the globalized world of today. Yet, most organizations miss the synchronicity and the orchestration opportunities as they still operate from a command and control mindset. This has not been possible partly because of trust issues. The S-Business framework which will have relationships as the primary basis may partly offset the impediments. Yet, the mindset change has to happen.

In my view, we have passed the era of mass manufacturing. I see the future to be one of mass and dynamic collaboration and organizations who wake up to this reality will have the competitive advantage.

Source:-http://subbaiyer.com/business/this-will-be-the-decade-of-social-business

IIT-Bombay may set up campus in New York

MUMBAI: The Indian Institute of Technology-Bombay could soon have a second address — in New York.

The New York City Economic Development Corporation (NYCEDC) has invited IIT-B to submit a proposal to set up a campus in the Big Apple for applied science courses.

The Mumbai institute will fill a lacuna that the city's five boroughs have had all these years — a world-class facility for applied science teaching and research with a strong bent towards applied engineering.

A committee at IIT-B is firming up the institute's pitch, which will be sent to NYCEDC by April. The host city will make a capital contribution, in addition to possibly providing land and other considerations.

Indian Institute of Technology, Bombay, director Devang Khakhar, who was invited by The New York City Economic Development Corporation (NYCEDC) to consider setting up a campus there, has said the concept is being explored. "Yes, we may start with something small there. My team is working on a feasibility plan of going to New York."

New York mayor Michael Bloomberg has said the city must optimize its business strengths. "The city is committed to finding the right partner and providing the support needed to establish such a facility because research in the fields of engineering, science and technology is creating the next generation of global business innovations that will propel our economy forward," Bloomberg said. "New York City has all the ingredients to complement an applied science and engineering hub—a highly educated global population, an unparalleled financial and business community to provide capital and support for new ventures and existing top-notch institutions performing cutting-edge research. We want to capitalize on those strengths."

Apart from inviting top institutes around the world to send in their offers, NYCEDC has also broadened its hunt by allowing institutes wanting a presence in NY to apply under this scheme. IIT-B's dean (international relations) Subhasis Chaudhuri, said, "The proposal is at a rather nascent stage. But we are considering it very seriously."

NYCEDC, which has received responses from a select group of top schools from around the world bidding for the same project, is likely to assess all the expressions of interest in April and later work toward setting up the school in a year. Terming this as a "once-in-a-generation opportunity", Bloomberg said, "The impact of this initiative will be extraordinary."

Source:-http://timesofindia.indiatimes.com/india/IIT-Bombay-may-set-up-campus-in-New-York/articleshow/7439196.cms

Mercator to invest Rs 2.5 bn in Indonesian coal mine

Mumbai-basedcompany Mercator Lines, plans to invest about 2-2.5 billion in developing a coal mine in the Batuah region of Kalimantan province in Indonesia. as part of its strategy to increase its presence in the high-margin mining industry. The company will form a joint venture with an PT United Coal of Indonesia to develop the infrastructure for the mining project. Mercator so far owns four coal mines in Indonesia with total reserves of about 70 million tones. The company plans to raise the total deposits capacity to 100 million tonnes.

Source:-http://www.projectsmonitor.com/COAL/mercator-to-invest-rs-25-bn-in-indonesian-coal-mine

Strong farm sector to help GDP grow 8.5% in 2010-11

The government`s statistical office is expected to peg gross domestic product at 8.5% for the current financial year in the advance estimates that are due to be released on Monday. This reflects a mild slowdown from the 8.9% growth registered during the first half of 2010-11. During the last financial year, the economy had grown by 8%. 

The growth will be powered by the farm sector. Helped by abundant rains this monsoon, the agriculture sector that now accounts for less than one-fifth of the economy, is expected to expand by 6-6.5% according to the first official estimates. 

According to sources, per capita income is likely to grow at around 6.5-7% during 2010-11. 

Manufacturing sector, seen as the main job creator, is also going to be the biggest worry for policymakers with the sector showing signs of slowdown as inflation, and the subsequent increase in interest rates, is affecting capacity addition in the sector. 

The first estimates of GDP would be revised in May and again next January. 

The advance estimates of GDP are near the levels announced by finance minister Pranab Mukherjee but lower than what has been projected by several agencies including the Reserve Bank of India. In its latest monetary policy review, RBI had retained its earlier projection of 8.5% with the possibility of an upward bias. 

The Prime Minister`s Economic Advisory Council headed by C Rangarajan and the Asian Development Bank had estimated that the Indian economy would expand by 8.5% this year. 

Among the international agencies, the World Bank had projected a growth of 8.7% this year in its estimates released in January, but it is lower than the International Monetary Fund`s 8.8%. 

Economists say the robust domestic demand is the key driver for India`s growth as is evident from a spurt in the sale of cars and white goods. Though the worry is about growth being close to full capacity, the higher farm sector output would augur well for the industrial sector as rural income would get a boost.

Source:-http://timesofindia.indiatimes.com/india/Strong-farm-sector-to-help-GDP-grow-85-in-2010-11/articleshow/7428628.cms

2G scam: DMK remains silent over Raja's arrest

The DMK has gone into silent mode. The arrest of disgraced telecom minister A. Raja has been a bitter pill for the party to swallow. That it comes barely a day after DMK patriarch M. Karunanidhi's return from the Capital, ensuring the alliance with the Congress, has surprised the party rank and file. A gloom has descended on the DMK. None from the party has reacted to the development.

Even Karunanidhi, who had been parotting that action would be taken against Raja if he was found guilty, has chosen to maintain a studied silence.

Though some senior DMK leaders maintain that it is better to face the music now rather during the polls in May, the party had hoped that the arrest would be postponed till the election was over.

What worries the DMK most is how to face the opposition onslaught during the poll campaign, in which the 2G spectrum scam would be a main plank.

The arrest has provided fresh ammunition to the opposition, and especially to AIADMK czarina Jayalalithaa. In private, party functionaries confide that the taint of corruption would certainly affect the party's prospects.

Karunanidhi's visit to the Capital was reportedly to persuade the Congress high command to delay the action against Raja.

But, his hopes were dashed as sources said home minister P. Chidambaram had briefed him about the impending arrest at Tamil Nadu Bhavan on Monday night.

What's more, while his photoop with Prime Minister Manmohan Singh was widely publicised, the one with Congress president Sonia Gandhi was conspicuously not. The octogenarian was kept waiting for more than six hours for an audience with Sonia.

The DMK chief and Congress troubleshooters discussed the legal and political fallout of Raja's arrest on the upcoming polls.

Both Congress and DMK leaders maintained that the arrest would not impact their proposed electoral tie-up.

AICC general secretary Janardan Dwivedi said the development would not have any bearing on the relations between the Congress and the DMK.

"It is absolutely no reflection on the alliance. It is continuation of a legal process," AICC spokesperson Abhishek Singhvi said, adding that no one should mix up legal process and politics.

Already the spectrum scam has created fissures within Karunanidhi's family as everyone is against his daughter, Kanimozhi's, faction. But for her father, she has no one to bank on. Jayalalithaa could not have hoped for much more to take on the DMK as well as the Congress.

Her gameplan is to reinforce the notion that the DMK is corrupt to the core and with the Karunanidhi family holding sway over the party, it serves to build up public opinion. After all, the first time Karunanidhi was dismissed from power was on corruption charges. The patriarch appears rattled by this and also by her charisma to pull huge crowds. If anything, his recent utterances point to his apprehensions of losing power - so much so that he had asked his partymen to remain united or face being thrown out of power.

Source:-http://indiatoday.intoday.in/site/Story/128516/top-stories/2g-scam-dmk-remains-silent-over-arrest-of-raja.html

Hilton Worldwide plans 19 hotels in India in next five years

US-based Hilton Worldwide Hotel Group plans to develop 19 hotels in the next five years. The company's expansion strategy is primarily through management contracts. Six of these hotels are expected to commence operations in 2011. The hotel projects with approximately 3,000 rooms, are in various stages of development & spread across the country in a mix of tier I, II and III cities. The Group is launching operations of six hotel properties with around 1,000 rooms during 2011. The new projects consist of four Hilton hotels, one Doubletree by Hilton, one Hilton Garden Inn and one Hampton by Hilton. Currently, Hilton Worldwide manages three properties in India - Hilton Garden Inn, Hilton New Delhi and the newly added Hilton Mumbai International Airport.

Source:-http://www.projectsmonitor.com/HOTEL/hilton-worldwide-plans-19-hotels-in-india-in-next-five-years

NTPC to invite bids for main plant in mid-2011

2,640-MW GIDDERBAHA THERMAL POWER PROJECT

Power utility NTPC Ltd plans to invite tenders for the main plant package for its 2,640-mw (4x660) coalbased thermal power project at Gidderbaha in Muktsar district of Punjab sometime in the middle of 2011 and award the contract by December. The project, which is being developed at an estimated cost of15,000 crore, is scheduled to be commissioned by 2016-17. The power plant will benefit Punjab and other states and union territories in the Northern Region.

NTPC had asked the CEA for year-wise power demand-andsupply projections for the Northern Region for the 12th Plan (2012-2017) to enable the utility to justify the power supply position for the project. Accordingly, CEA worked out the anticipated supply position for the 12th Plan, considering the under-construction schemes, and informed NTPC that power from the project would be fully absorbed in 2016-17, thus according inprinciple clearance to the viability of the project. The Punjab government has agreed to help with land acquisition and water allocation for the project against the allocation of 50 per cent of power to the state. The government has given inprinciple clearance for about 2,316 acres of land for the project. NTPC signed the PPA with Punjab State Power Corporation Ltd last month.

The power project, which would be funded entirely by NTPC, will be the state's biggest thermal power plant and is expected to boost economic development in the region. 

The combined capacity of the Gidderbaha TPP along with four other upcoming mega thermal plants at Talwandi Sabo, Goindwal, Rajpura and Mansa will be 10,590 mw and the total investment is nearly 53,000 crore.

Source:-http://www.projectsmonitor.com/POWDIST/ntpc-to-invite-bids-for-main-plant-in-mid2011

Surajkund Handicraft Mela 2011 Surajkund Crafts Mela 2011 | Surajkund Mela 2011 Feb 1st to Feb 15 2011

Surajkund Crafts Mela 2011 begins from the 1st of February 2011 and at this time it is held at Surajkund, Delhi Faridabad border and with the help of Haryana Tourism Ministry, this Mela will remain on going till 15th of February 2011. People come to Surajkund Crafts Mela and they love and enjoy the this Mela since years. Many people come for photography, handlooms, handicrafts..etc

The special thing is this Mela is not limited to India, usually all SAARC countries participate in it like Bhutan, Maldives, Nepal, Pakistan, Sri Lanka and Bangladesh.

In this Crafts Mela there are many interesting things like silk, cotton merge saris, bamboo, Ken, jute, woodcraft, stone craft, clothing, leather toys, floor, folk painting filled, , iron craft, metal of plots, soil cotta,  paper mache, embroidery work, ornaments, dolls..etc

Source:-http://www.newsatweb.com/2011/02/01/surajkund-handicraft-mela-2011-surajkund-crafts-mela-2011-surajkund-mela-2011-feb-1st-to-feb-15-2011/