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Thursday, November 8, 2012

World on December 2012


NASA predicts total blackout on 23-25 Dec 2012 during alignment of Universe. US scientists predict Universe change, total blackout of planet for 3 days from Dec 23 2012. It is not the end of the world, it is an alignment of the Universe, where the Sun and the earth will align for the first time. The earth will shift from the current third dimension to zero dimension, then shift to the forth dimension. During this transition, the entire Universe will face a big change,and we will see a entire brand new world. The 3 days blackout is predicted to happen on Dec 23, 24, 25....during this time, staying calm is most important, hug each other, pray pray pray, sleep for 3 nights...and those who survive will face a brand new world....for those not prepared, many will die because of fear. Be happy..., enjoy every moment now. Don't worry, pray to God everyday. There is a lot of talk about what will happen in 2012, but many people don't believe it, and don't want to talk about it for fear of creating fear and panic. We don't know what will happen, but it is worth listening to USA's NASA talk about preparation.

Tuesday, November 6, 2012

Trade and Investment Deals with India



 Harper attended a business roundtable in New Delhi, intended to showcase 14 trade and investment agreements that "demonstrate the increasing depth of the Canada-India relationship,"  Prime Minister Stephen Harper participated in a business roundtable in New Delhi. 

International Trade Minister Ed Fast emerged from the meeting to say that $2.5 billion in new business deals with India are now in the works. Some of that, he conceded, is in the form of memoranda of understanding – not cash in the bank. 

The largest deal was a previously announced $1.2-billion agreement between Montreal's La Coop fédérée and Indian Farmers Fertilizer Cooperative (IFFCO) to build a urea production plant (used for nitrogen fertilizer) in Bécancour, Que., creating 200 local jobs. Another technology research deal between Prairie Pulp & Paper Inc. of Winnipeg and Central Pulp & Paper Inc. from Saharanpur, India, will see a new wheat straw-based pulp and paper plant built in Manitoba, representing a $500-million to $600-million investment. Montreal's Bombardier was also highlighting two deals: a new $200-million contract from Mumbai Railway Vikas 

Corporation to design and manufacture equipment for 72 commuter trains with 12 cars each operating on the Mumbai suburban rail network, on top of another deal with the Delhi Metro Rail Corporation for 614 cars, worth over $900 million. Fast referred to the business environment in India as "opaque" and "byzantine." 

He added that a foreign investment protection agreement, which is one of the government's main goals, is still not ready to sign, even after eight years of negotiation. The two nations have yet to agree on the strings attached to Canada selling India uranium under a 2-year-old nuclear deal.

Latest Accounting Standards in India


  •   Disclosure of accounting policies:
  •   Valuation Of Inventories:
  •   Cash Flow Statements
  •   Contingencies and events Occurring after the Balance sheet Date
  •   Net Profit or loss For the period, Prior period items and Changes in accounting Policies.
  •   Depreciation accounting.
  •   Construction Contracts.
  •   Revenue Recognition.
  •   Accounting For Fixed Assets.
  •   The Effect of Changes In Foreign Exchange Rates.
  •   Accounting For Government Grants.
  •   Accounting For Investments.
  •   Accounting For Amalgamation.
  •   Employee Benefits.
  •   Borrowing Cost.
  •   Segment Reporting.
  •   Related Party Disclosures.
  •   Accounting For Leases.
  •   Earning Per Share.
  •   Consolidated Financial Statement.
  •   Accounting For Taxes on Income.
  •   Accounting for Investment in associates in Consolidated Financial Statement.
  •   Discontinuing Operation.
  •   Interim Financial Reporting.
  •   Intangible assets.
  •   Financial Reporting on Interest in joint Ventures.
  •   Impairment Of assets.
  •   Provisions, Contingent, liabilities and Contingent assets.
  •   Financial instrument.
  •   Financial Instrument: presentation.
  •   Financial Instruments, Disclosures and Limited revision to accounting standards.


Trust Deed for Shares - Format


 THIS DEED IS MADE on the day        of           BETWEEN
 (1) [ ] of [ ] (the “Trustee”);

AND (2) [ ] (NRIC No. [ ] ) of [ ] (“Beneficiary”).

WHEREAS :-

A. The Trustee has subscribed for or otherwise acquired [ ] shares of Rs.1.00 each (“Shares”) in the capital of [ ] (Registration No.[ ] ), a company incorporated in India and having its registered office at [ ] (the “Company”).

B. The total consideration for the said subscription for and/or acquisition of the Shares is Rs.[ ] .

C. The total consideration paid for the Shares was provided by the Beneficiary and it has been agreed that the Shares shall be held in name of the Trustee for the benefit of the Beneficiary absolutely on the terms of this Deed.

NOW THIS DEED made in pursuance of the said agreement and for the consideration herein witnesseth as follows :-

1. The parties declare that the whole of the beneficial interests in the Shares belongs to the Beneficiary and the Trustee shall hold the Shares in trust for the Beneficiary absolutely.

2. Without prejudice to the generality of the above :-

2.1 the Trustee undertakes and agrees not to sell, part with possession or otherwise deal with the Shares, any part thereof, any accretions thereto or any related rights or interests save and except with the consent of the Beneficiary;

2.2 if and when required by the Beneficiary to do and as soon it is possible for the Beneficiary to become a registered holder of the Shares, the Trustee will sign and execute all deeds documents or other writings and do all acts and things which may be necessary to enable the Beneficiary to be the registered holder of the Shares;

2.3 the Trustee shall as soon as possible forward and/or convey to the Beneficiary all information, statements, accounts and documents that the Trustee may receive as or by virtue of him being the registered holder of the Shares;

2.4 the Trustee shall disclose to the Beneficiary all agreements and/or arrangements binding on all shareholders of the Company;

2.5 the Trustee shall act in good faith and with due diligence for the benefit of the Beneficiary in respect of all matters relating to the Shares and the Company; and

2.6 the Trustee shall take all steps within his power to protect the Beneficiary’s interests in the Shares, all accretions thereto and all related rights and interests.

3. The Beneficiary shall indemnify the Trustee for all payments properly made by the Trustee in accordance with this Deed in relation to the Shares or the Company and for all payments made and costs and expenses properly incurred as a result of carrying out the instructions of the Beneficiary.

4. Where holders of Shares are obliged to meet cash-call by the Company, the Beneficiary shall put the Trustee in funds to meet the cash-call.

5. In the event that the Beneficiary wishes to dispose of her interests in the Shares, the Beneficiary shall give the Trustee the first right of refusal to purchase the said interests at a price to be agreed or at fair market value to be determined by a public accountant appointed by mutual agreement and the costs of engaging the accountant shall be shared by the parties equally.

6. In the event that the holding company of the Company becomes a public listed company, the Trustee shall procure for the Beneficiary the right to have the Shares exchanged for shares in the capital of the public listed company.

 IN WITNESS WHEREOF, the parties have hereunto set their hands ans seals on the date above.

Signed Sealed & Delivered by

in the presence of :-


Signed Sealed & Delivered by

in the presence of :-

Monday, November 5, 2012

China's Construction-Equipment Firms Battle slump


China's largest construction-equipment makers still face massive overcapacity and pressure to consolidate despite signs of improvement from this year's industrywide sales slump, a top executive said. Guangxi Liugong Machinery Co. President Zeng Guang'an said industry inventories appear to be coming down as manufacturers cut production and renew efforts to sell more equipment. Still, he warned that a consolidation of the industry is imminent. "We have too much investment. We need more consumption," he said in a recent interview. "In China, we are going to slowly change the structure of our economy." The industry has taken a hit as China's growth

Dollar Funding Pressure facing Non - US Banks


A large share of dollar-denominated lending is done by non-U.S. banks, particularly European banks. We present a model in which such banks cut dollar lending more than euro lending in response to a shock to their credit quality. Because these banks rely on wholesale dollar funding, while raising more of their euro funding through insured retail deposits, the shock leads to a greater withdrawal of dollar funding. Banks can borrow in euros and swap into dollars to make up for the dollar shortfall, but this may lead to violations of covered interest parity (CIP) when there is limited capital to take the other side of the swap trade. In this case, synthetic dollar borrowing becomes expensive, which causes cuts in dollar lending. We test the model in the context of the Eurozone sovereign crisis, which escalated in the second half of 2011 and resulted in U.S. money-market funds sharply reducing their funding to European banks. Coincident with the contraction in dollar funding, there were significant violations of euro-dollar CIP. Moreover, dollar lending by Eurozone banks fell relative to their euro lending in both the U.S. and Europe; this was not the case for U.S. global banks. Finally, European banks that were more reliant on money funds experienced bigger declines in dollar lending.

Friday, November 2, 2012

US Stocks Lift Up

US stocks closing: It's only been a day, but November on Wall Street is already looking a lot better than October.
Strong economic data and corporate news converged Thursday to give U.S. stocks their best day since mid-September. Positive signs about the job market and higher auto and retail sales reports pushed stock futures up before the market opened. The Dow Jones industrial average rose 100 points the first half hour of trading. At 10, two more strong reports came out and pushed the Dow up as much as 177 points. It fell back some, but held a steady gain for the rest of the day.
The Dow closed up 136.16 points, or 1 percent, at 13,232.62. It was the best day since Sept. 13.
The Standard & Poor's 500 index rose 15.43 points, or 1.1 percent, to 1,427.59. The Nasdaq composite index added 42.83, or 1.4 percent, to 3,020.06. in October, their first monthly losses since May.
The 10 a.m. surge came after the Institute for Supply Management said factories are seeing more orders and increased production. The index has shown growth for the first two months of this quarter, an encouraging sign about the health of corporate America. Before that, manufacturing had decreased for three straight months.
The Conference Board said Americans' confidence in the economy surged last month to the highest level in nearly five years. Many were encouraged by an improving job market, the group said.
Traders watch manufacturing and consumer confidence because factories and consumers are crucial players in the economic recovery. Manufacturing lifted America out of recession, and the resurgent car industry has supported the economy during recent periods of weakness. Consumers, meanwhile, account for about 70 percent of economic activity. If they're not confident enough to spend, no one else has the buying power to take up the slack.
Manufacturing growth tends to signal higher corporate earnings, said Doug Cote, chief market strategist at ING Investment Management. U.S. companies are midway through reporting their third-quarter earnings, which have been relatively weak. If factories keep boosting their output, Cote said, earnings are more likely to bounce back this quarter.
What you want to see is advancing corporate profits, broad manufacturing growth and strong consumer spending,'' Cote said. Cote said those factors set the tone for the market.
Before trading began, the government said applications for unemployment benefits fell 9,000 last week to a seasonally adjusted 363,000, a level consistent with modest hiring. Separately, payroll provider ADP said businesses added 158,000 jobs in October, more than economists had expected.
Another major piece of economic news comes out at 8:30 a.m. Friday, the Labor Department's October jobs report. That report will be watched closely by traders to see how well the U.S. economy
is recovering. If the number is especially good or bad, it also could influence the outcome of next week's presidential election.
It was the second day of trading after Superstorm Sandy ravaged New York and forced markets to close on Monday and Tuesday. Companies that had postponed earnings announcements rushed to release their results.
Thursday's upswing started with strong sales results from retailers and automakers. Chrysler had its best October in five years, with sales rising 10 percent, despite the three-day disruption caused by the storm.
Exxon Mobil beat the financial expectations of analysts surveyed by FactSet, but reported lower production of oil and gas. Its stock rose 43 cents to $91.60.
Kellogg Co.'s net income edged up in the third quarter as its acquisition of Pringles chips earlier this year paid off. Kellogg leapt $1.18, or 2.3 percent, to $53.50.
Pfizer said its third-quarter profit fell 14 percent on plunging sales, mainly due to new competition from generic forms of Lipitor, long the world's top-selling drug. Pfizer fell 32 cents to $24.55.

SIT announced Scholarship for Indian Students

 Southern Institute of Technology's (SIT) brand ambassador and former coach of Indian cricket team John Wright today announced 25 scholarships for aspiring Indian students to live, learn, work in New Zealand and excel in a field of their choice.
Having seen immense sporting and academic talent in the Indian sub-continent, SIT invites all outstanding students from India, Sri Lanka and Nepal to pursue studies abroad with study scholarships named after himself (John Wright Scholarship) ranging between NZ dollar 1400 to NZ dollar 18000 (Rs 60,000 to Rs 75,0000), he told a press conference here.
The scholarships give successful candidates an opportunity to pursue their sporting and academic dreams, he said.
The curriculum includes SIT's postgraduate diploma in business enterprise, nine graduate diplomas, 12 bachelor's degrees, and a host of two-year diploma programme, he said.
Scholarship recipients not only get the benefit of fee reductions, but also get the opportunity to play for Southland local teams in NZ, he said.

Android 3/4 in Smart Phones


Three out of every four smartphones sold in the third quarter featured Google Inc's Android mobile operating system, as the gap between Google and Apple Inc-based phones widened further, according to a new research report.
Shipments of Android-based smartphones made by Samsung, HTC and other vendors nearly doubled in the third quarter, reaching 136 million units, according to industry research firm IDC.
The strong sales boosted Android's share of the worldwide smartphone market to 75 percent, from 57.5 percent in the year-ago period.

Apple's share of the market increased to 14.9 percent during the third quarter, from 13.8 percent a year earlier. Apple's iPhone uses the company's iOS mobile software.
While Android pulled further ahead of Apple's iOS, its gains have come mainly at the expense of rival operating systems Blackberry and Symbian, with shipments of phones running those systems declining significantly.

IDC analyst Kevin Restivo cited Android's close "tie-ins" to Google's broad
array of online services, which include online search and maps, as an important asset that has helped Android grow.
"Google has a thriving, multi-faceted product portfolio. Many of its competitors, with weaker tie-ins to the mobile OS, do not," Restivo said in the IDC report, which was released on Thursday.
Google offers its Android operating system free to phone manufacturers, and primarily makes money from online advertising when consumers access its services on the devices.
Research in Motion's Blackberry operating system had 7.7 percent share in the third quarter, compared with 9.5 percent a year earlier.

Symbian, which had 14.6 percent share a year ago, had a 4.1 percent share in the third quarter. Smartphone maker Nokia still offers the Symbian software in some of its phones, but the company has largely shifted to Microsoft Corp's software.
Mobile versions of Microsoft's software accounted for 3.6 percent of the smartphone market in the third quarter.
But IDC said that the recent launch of the new Microsoft Phone 8 operating system could improve its position in the fast-growing market.

Thursday, November 1, 2012

Race for White House


In a year when the White House is at stake, the battle for Congress is the undercard. But it matters, a lot. A President Mitt Romney would need Republicans to gain control of both the House of Representatives and the Senate to push through his promises of an across-the-board tax cut and the repeal of Obamacare. Right now, the odds are he won't manage it.
The House, re-elected in its entirety every two years, is not the problem. Even defiant party loyalists admit Democratic hopes of recapturing the 435-seat chamber, in which the Republicans emerged with a majority of 242 to 193 after the mid-term tsunami of 2010, have virtually evaporated.
Today, thanks to repeated rounds of gerrymandering that have made incumbents safer, and the shrinking of the political centre, less than a quarter of all House districts are in any sense competitive.
Analysts predict Democrats will make a net gain of a dozen seats at most, well short of the "Drive to 25" game plan of Nancy Pelosi, the Minority Leader. There are intriguing individual races, not least the one in Utah's fourth district, where Mia Love – Haitian-American, converted Mormon and mayor of the town of Saratoga Springs – seeks to become the first black Republican Congresswoman.
But the overall picture will almost certainly remain the same: a Republican majority of social and fiscal conservatives, in which moderates are all but extinct, led by a Speaker, John Boehner, with the thankless task of shepherding a rambunctious Tea Party contingent averse to compromise.
If Mr Obama is re-elected, he will therefore have to cope with divided government. Just how divided depends on what happens to the Senate, and there the prospects for Mr Romney's party are murkier.
In the outgoing 112th Congress, Democrats held a slender Senate edge, of 53 to 47. As usual, a third of the chamber's 100 seats are up for re-election in 2012 – and the starting arithmetic distinctly favoured Republicans, who were defending just 10 seats compared to their opponents' 23.
Four or five GOP pick-ups have been likely from the outset of the campaign. But a combination of unexpected Democratic strength in several toss-up contests, a couple of candidates' own goals in seats the Republicans would expect to win, and plain old bad luck, have made the push to the magic number of 51 seriously complicated.
Precisely how complicated hinges on the outcome of the presidential race. If Mr Obama gains a second term, Republicans need a net gain of four. But that figure drops to three should Mr Romney prevail. A 50-50 tie would suffice, given the decisive vote of vice-president Paul Ryan in his constitutional role as president of the Senate.
And Mr Romney's performance may affect the outcome not only directly, but indirectly too. The final outcome, according to analysts, depends on eight or nine especially close races – three (in Virginia, Nevada and Wisconsin) in states which will decide the battle for the White House. If Mr Romney does well in them, his "coattails" could haul the Republican Senate candidate to victory as well.
Right now the omens are mixed. In Virginia, the battle of two former governors, the Democrat Tim Kaine and Republican George Allen, is tilting towards the former. Mr Allen, who once held the seat and presidential aspirations of his own, wants to make amends for his blunder of 2006 when he was caught on camera at a rally using the racial slur "makaka".
In Wisconsin, the popular former Republican governor Tommy Thompson was clear favourite before an unexpectedly bruising primary battle depleted his resources. Right now his opponent, the Democratic Congresswoman Tammy Baldwin, is ahead by a whisker. In Nevada, it is Republican Dean Heller who has a tiny advantage.
Elsewhere several Democrats are doing better than expected, among them the incumbents Bill Nelson in Florida and Sherrod Brown in Ohio, both states where the presidential race is neck-and-neck but where they have established near double-digit leads. And in Nebraska, scene of one of the most fascinating undercard contests, old Democratic lion Bob Kerrey, a presidential candidate in 1992, is fast catching up in his underdog fight to recapture the seat.
But the highest-profile race of all, fittingly, is in Massachusetts. The Republican Scott Brown's 2010 win in the seat held for nearly half a century by Ted Kennedy cost Democrats their filibuster-proof Senate majority of 60, and was portent of the Republican tidal wave that November.
Now Mr Brown is in the fight of his life against Elizabeth Warren, a Harvard professor and celebrated consumer champion, whom some suspect of presidential aspirations of her own should she win. Polls suggest she may.
Gaffes meanwhile on the abortion issue have damaged two other once-favoured Republicans. In Missouri, Todd Akin – he of the "legitimate rape" comment – is trailing the Democratic incumbent, Claire McCaskill. In Indiana, Richard Mourdock's comment that pregnancies arising from rape are "God's will" suddenly threatens to cost Republicans a seat they've held for 36 years.
God's will, of course, can also be sheer bad luck. Few expected Olympia Snowe, one of the few Republican Senate moderates, to resign her seat in Maine in disgust at a deadlocked, hyperpartisan Congress. She is likely to be replaced by Angus King, a former governor and nominal independent, who will probably side with the Democrats. If so, then Ms Snowe may have handed not only her seat, but the whole Senate, to the Democrats.

Just One Banana


While cutting his way through India, Alexander the Great paused to note that in India bananas were the fruit of the wise man. According to a new report commissioned by the UN Committee on World Food Security, Alexander was perceptive. For as the climate warms, rice and wheat will become scarce. In their stead, the scientists say, the smart money is on bananas.
It would be a shame to wave goodbye to bread and rice, but the 'nana and its near cousin the plantain, both actually perennial herbs, provide consolations. Cyrus Todiwala says their leaves are a fine thing to cook fish in. While the plant's flower is familiar in Vietnamese banana blossom salads. The plantain's centre is also, according to Levi Roots, pretty handy as a stuffing, or for deep frying. But Fanny Craddock suggests you roll them in nuts and jam, stand them in a pineapple ring and place a glacé cherry on the end – wisdom indeed.

Wednesday, October 31, 2012

India at 40th in WEF

New Delhi: India has slipped four places to 40th position, out of 62 leading financial systems and capital markets, because of poor enforcement of contracts and low levels of liberalisation, says a World Economic Forum (WEF) report.

According to the fifth edition of the World Economic Forum's Financial Development Report 2012, India has been ranked 40th in the 2012 Index -- four-spot decline from last year (36 rank).

The report highlighted a poor record in enforcing contracts, low levels of liberalisation, inadequate IT and communications infrastructure and general high costs of doing business.

"Weak results in the institutional and business environment pillars continue to be driven by an inability to enforce contracts, a low degree of financial sector liberalisation, inadequate infrastructure, and a high cost of doing business" were largely responsible for the decline in India's ranking in the Index, the report said.

India has been ranked 9th out of the 15 Asia Pacific economies that were surveyed in the report.

India's comparative strength in the area of non-banking financial services was recognised in the report. It was ranked quite high in non-banking financial services (9th), but in terms of banking financial services it was placed in the 45th position.

The index was topped by Hong Kong for the second consecutive year, followed by the US, the UK, Singapore, Australia, Canada. There was no change in the ranking of the first six places this year as against last year.

"Globally, the Report found that a general stagnation in financial development, posing serious challenges to a global economic recovery," WEF said.

The general stability of the Index is further highlighted by Singapore, Australia and Canada maintaining their positions at 4th, 5th and 6th place, respectively.

The Netherlands fell two spots from 7th to 9th because of weakness in equity market development and banking system efficiency, while, Sweden jumped into this year's top 10 because of an improvement in retail access to capital.

"The Financial Development Report shows that financial systems in advanced and emerging economies are stalling," said Giancarlo Bruno, Senior Director at the World Economic Forum.

"Macroeconomic uncertainty, as well as concerns related to regulation, contributes to inhibiting the financial industry from funding much-needed growth," Bruno added

Oil Ministry Postpones CAG

The Oil Ministry has postponed a kick-off meeting scheduled for CAG to begin audit of Reliance Industries' KG-D6 spending, even as it continues to withhold approvals to the company's investment proposals.

The Comptroller and Auditor General of India (CAG) had called an Entry Conference with RIL and the Oil Ministry on Tuesday to begin its second round of audit that is to cover RIL's spending on KG-D6 gas fields during 2008-09 to 2011-12.

But the ministry on October 29 wrote letters calling off the October 31 meeting, sources privy to the development said.

The meeting, they said, was called-off due to differences over the nature and scope of audit to be conducted by CAG. 

RIL has sought written assurance that CAG scrutiny would be an "audit of accounting books and records" as provided under the Production Sharing Contract (PSC) and that the company would not be "required to provide documents, information or any clarification of matters which go beyond scope of audit under Section 1.9 of the Accounting Procedure of the PSC."

Also, it wants the audit to be carried at its premises and audit report be submitted to the Oil Ministry, as provided under PSC, and not to the Parliament.

The Ministry, however, wants RIL to give CAG "unfettered access to account books" and pending that it has not approved the company's investment proposals including annual budget for past three years.

Sources said the kick-off meeting was postponed so as to resolve these differences.

The Ministry had on October 23 written to RIL saying CAG would not do a performance audit of the company and that "all the government nominees" on the KG-D6 block oversight panel have "already approved" to all the development proposals made by RIL.

Sources, however, said the resolution approving annual capital expenditure on the KG-D6 block for 2010-11, 2011-12 and 2012-13 fiscal have not been signed yet.

While the Management Committee of KG-D6 block on August 7 approved annual plans pending for past three years, the resolution had not been signed. These capex included those on well interventions to reverse the trend of falling gas output.

Pending signing is the MC approved revised field development plan for MA oil and gas field in the same block. All these investments, RIL says, are necessary to reverse drop in output at the fields.

Also, at least three discoveries RIL has made in the block had not been declared commercial, a step necessary to begin production from them.

Sandy Strom Created Climate Change

WASHINGTON: Climate scientist Michael Oppenheimer stood along the Hudson River and watched his research come to life as Hurricane Sandyblew through New York.

Just eight months earlier, the Princeton University professor reported that what used to be once-in-a-century devastating floods in New York City would soon happen every three to 20 years. He blamed global warming for pushing up sea levels and changing hurricane patterns.

New York "is now highly vulnerable to extreme hurricane-surge flooding," he wrote.

For more than a dozen years, Oppenheimer and other climate scientists have been warning about the risk for big storms and serious flooding in New York. A 2000 federal report about global warming's effect on the United States warned specifically of that possibility.

Still, they say it's unfair to blame climate change for Sandy and the destruction it left behind. They cautioned that they cannot yet conclusively link a single storm to global warming, and any connection is not as clear and simple as environmental activists might contend.

"The ingredients of this storm seem a little bit cooked by climate change, but the overall storm is difficult to attribute to global warming," Canada's University of Victoria climate scientist Andrew Weaver said.

Some individual parts of Sandy and its wrath seem to be influenced by climate change, several climate scientists said.

First, there's sea level rise. Water levels around New York are a nearly a foot (0.3 meters) higher than they were 100 years ago, said Penn State University climate scientist Michael Mann.

Add to that the temperature of the Atlantic Ocean, which is about 2 degrees Fahrenheit (.8 degrees Celsius) warmer on average than a century ago, said Katharine Hayhoe, a climate scientist at Texas Tech University. Warm water fuels hurricanes.

And Sandy zipped north along a warmer-than-normal Gulf Stream that travels from the Caribbean to Ireland, said Jeff Masters, meteorology director for the private service Weather Underground.

Meteorologists are also noticing more hurricanes late in the season and even after the season. A 2008 study said the Atlantic hurricane season seems to be starting earlier and lasting longer but found no explicit link to global warming. Normally there are 11 named Atlantic storms. The past two years have seen 19 and 18 named storms. This year, with one month to go, there are 19.

After years of disagreement, climate scientists and hurricane experts have concluded that as the climate warms, there will be fewer total hurricanes. But those storms that do develop will be stronger and wetter.

Sandy took an unprecedented sharp left turn into New Jersey. Usually storms keep heading north and turn east harmlessly out to sea. But a strong ridge of high pressure centered over Greenland blocked Sandy from going north or east, according to the National Hurricane Center.

Jennifer Francis of Rutgers University, an expert in how a warming Arctic affects extreme weather patterns, said recent warming in the Arctic may have played a role in enlarging or prolonging that high pressure area. But she cautioned it's not clear whether the warming really had that influence on Sandy.

While components of Sandy seem connected to global warming, "mostly it's natural, I'd say it's 80, 90 percent natural," said Gerald North, a climate professor at Texas A&M University. "These things do happen, like the drought. It's a natural thing."

On Tuesday, both New York Mayor Michael Bloomberg and Gov. Andrew Cuomo said they couldn't help but notice that extreme events like Sandy are causing them more and more trouble.

"What is clear is that the storms that we've experienced in the last year or so, around this country and around the world, are much more severe than before," Bloomberg said. "Whether that's global warming or what, I don't know. But we'll have to address those issues."

Did cyclone Neelam reach in Tamil Nadu

Chennai: A weather department official informed that cyclone Neelam over Bay Bengal is expected to cross between Tamil Nadu and Andhra Pradesh coasts on Wednesday evening.

The cyclone is now around 340 km south-southeast of Chennai and is moving. "Neelam is expected to cross the coast between Cuddalore (Tamil Nadu) and Nellore (Andhra Pradesh) today (Wednesday) evening," the weather official said.

According to the weatherman, rainfall is expected at most places over coastal Tamil Nadu and Andhra Pradesh.

Wind speed would reach around 80 kmph and prevail along and off north Tamil Nadu, Puducherry and adjoining south Andhra Pradesh coasts as Nilam nears its landfall.

The sea condition will be rough along and off north Tamil Nadu, Puducherry and south Andhra Pradesh coasts during the next 36 hour. 

Storm surge of about 1 to 1.5 metre over the astronomical tide is likely to inundate the low lying areas of Chennai, Kanchipuram and Tiruvallur districts in Tamil Nadu and Nellore district of Andhra Pradesh.

Standing crops - paddy, groundnut and maize - in coastal districts of Tamil Nadu and Andhra Pradesh are likely to be damaged, said a weather bulletin.

The Tamil Nadu government has announced holiday for schools and colleges in the coastal districts.

9th Film Festivel of Tamil Nadu


International Tamil Film Academy in association with the famous
Tamil film production house Seventh Channel Communications organize their annual
FILM FESTIVAL OF TAMILNADU (INTL.) for the NINTH Consecutive year.
Film Director Mr.Ameer Inaugurates the function in the presence of
Ms.Lakshmi Ramakrishnan (Film Director)
Ms.Oviya Actress will light the “Kuthuvilakku”

VENUE : DEVISRIDEVI THEATRE

Apple 's iPad mini packs screen


SAN FRANCISCO: Apple Inc's entry in the accelerating mobile tablet race squeezes about 35 per cent more viewing space onto a lighter package than rival devices from Google or Amazon.com Inc, but it sports inferior resolution and a lofty price tag, two influential reviewers wrote on Tuesday.

The iPad mini, which starts at $329 versus the $199 for Google's Nexus 7 and Amazon's Kindle Fire HD, is easy to hold with one hand, eliminating a drawback of the 10-inch iPad, Wall Street Journal columnist Walt Mossberg wrote in one of the first major reviews of a gadget introduced last week.

Both Mossberg and New York Times columnist David Pogue offered kudos for cramming most of its full-sized cousin's functions onto a smaller device, as advertised.

But the iPad mini's 1024 x 768 resolution was a big step backwards from the iPad's much-touted Retina display, and underperformed the rival Kindle and Nexus, the two reviewers agreed.

Mossberg said Apple chose to go with a lower-quality display because the existing 250,000-plus iPad applications could only run unmodified in two resolutions - and the higher level would have sapped too much power.

"The lack of true HD gives the Nexus and Fire HD an advantage for video fans. In my tests, video looked just fine, but not as good as on the regular iPad," Mossberg wrote.

Votes Against JSPL


In a rare display of resentment against rising executive pay in corporate India, institutional shareholders of Jindal Steel and Power Limited (JSPL) have voted against a resolution authorising the chairman and managing director to revise the remuneration of wholetime directors.
Naveen Jindal, chairman and managing director, was the country’s highest-paid executive with a package of ~73.42 crore for the year ended March 31, 2012.
In the 33rd annual general meeting held in Hisar, Haryana, on September 26, 101.41 million or 97 per cent of the institutional votes polled were against the resolution, an exchange filing by the company showed.
HSBC Global Investment Funds, ICICI Prudential Life insurance and Lazard are the institutions which hold over one per cent in the company.
Institutional shareholders own 262 million shares in the company according to the filing accounting for 28 per cent in the company.
Of these, only around 40 per cent of the shareholders exercised their vote, with 104.56 million votes polled. Of these, 101.41 million votes were against the resolution, while the remaining three million voted in favour.
Of the non-institutional shareholders who participated in the poll, 132,355 or 99 per cent voted in favour of the resolution.
Though the resolution was passed because the promoter shareholders held 65 per cent equity and voted in favour, the results showed there is a case for interested parties to recuse themselves from such resolutions, say proxy advisory groups.
“In my opinion, such a move by institutional shareholders had not been seen before,” said J N Gupta, founder of Stakeholders Empowerment services, a Mumbai-based advisory firm.
Advisory firm SES had published an advisory against the resolution in September.
"The entire remuneration policy of the company is opaque...The resolution can lead to a conflict of interest situation," it had said in a client note.
Though some institutions seemed to have heeded this call as the poll results showed, promoter group shareholders, who hold 530 million shares, voted in favour of the resolution, taking it through.
“Although the resolution was carried through as the owners had majority, it shows that efforts can work,” Gupta added.
Total Votes Votes Votes % shares polled against for against Institutional 262.59 104.56 101.41 3.15 96.99
Non-institutional 120.47 0.13 0 0.13 0.52
Promoters 551.76 524.34 0 524.34 0
Numbers in million Source: Company filings UNWILLING TO PLAYBALL
Voting in JSPL’s AGM on a resolution to authorise CMD to revise directors pay

Sovereign, Pension Funds to get Special Treatment


To encourage sovereign wealth funds (SWFs) and pension funds to invest in the Indian debt market, the Securities and Exchange Board of India (Sebi) is working on a framework to give these preferential treatment. Currently, these investors, who typically invest for the long term, do not have significant investments in the Indian debt market.
Sebi has given in-principle approval to suggestions by market entities that preferential treatment be given to longterm investors, such as SWFs and pension funds while allocating debt limits. China gives preferential allotment to SWFs in debt limits for foreign institutional investors (FIIs).
According to people privy to the development, Sebi is working on an administrative framework to allow discretionary allotment to these investors. The regulator might consider a separate limit within the current FII debt limit. It might also have to set up a separate dispensation framework to differentiate these investors and provide them greater flexibility.
SWFs are government-controlled special purpose investment funds investing in a variety of assets. SWFs from select countries are given more flexibility while investing in listed companies. They have an investment cap of 20 per cent, against 10 per cent for other investors.
Experts said the move would encourage such funds to invest in high-yielding Indian paper. The domestic debt market would benefit, as these investors typically make large-size investments for relatively longer terms. “It is necessary to attract real long-term money into the country. Currently, only a small block of the investment limit is available to foreign investors. If SWFs and pension funds are to be attracted, a larger limit and greater flexibility would be needed,” said Hitendra Dave, managing director and head of global markets (India), HSBC.
“Sovereign funds are still not making any significant investment in the debt market. Preferential treatment would be good encouragement to ensure their participation,” said Ajay Manglunia, senior vice-president of Edelweiss Financial Services.