Emerging India
Issue No. 57 Evening Edition IST
Corporate World . Politics . Investment Opportunities in India ...
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- Mukesh backs Tata in times of trouble
- Kosi forces evacuation of 2 million people (Can NRIs & PIOs help in some way?)
- Jammu hostage drama ends
- Our readers find Google Ads very informative
- Heritage tourism is the buzzword in Tamil Nadu
- Icy Spicy : Priyanka Chopra’s fashion sense
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Your Personal Change Agent
"Courage is resistance to fear, mastery of fear - not absence of fear."
- Mark Twain
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SENSEX: 14,048.3, DOWN 33.8 % from 52-wk high
FOREX: USD 43.72 / EUR 64.62 / GBP 80.21
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Mukesh backs Tata in times of trouble (ET-28Aug08)
Reliance Chief Bats For Singur Project
IT’S not just corporate rivalries and bitter feuds that make interesting stories. In fact, most readers are perhaps beginning to accept that acrimonious exchanges and behind the-scenes machinations by business houses to outgun each other are a way of life for India Inc. So, a statement on Wednesday evening by Mukesh Ambani, strongly backing the Nano project — Ratan Tata’s dream venture — came as a bit of a surprise.
“A fear-psychosis is being created to slow down certain projects of national importance. This will be counter-productive for the country’s economic growth, its global image as well as our ability to attract investments from across the world,” said Mr Ambani — India’s richest man and chairman of Reliance Industries, the country’s biggest private company.
“The Indian industry and the political leadership in the country need to work together to deliver on the aspirations of the millions of Indians in urban and rural areas, ” said the statement issued by Reliance. It is unclear as to what extent this would strengthen the West Bengal government’s resolve to stick to the October deadline for the Nano launch and put some pressure on Mamata Banerjee to come to the negotiating table.
However, coming from a traditional business rival, it was a gesture that may not go down well in corporate India and political circles, but also bolster Reliance’s public image. Incidentally, Mr Ambani had faced protests during his Reliance Fresh rollout in West Bengal. According to Mr Ambani, “The Nano project is a unique and innovative initiative, which will establish India’s position as a small car hub. The Indian industry must be encouraged to make such large investments in order to build the country’s competitiveness as well as support job creation.”
Rahul Bajaj has also expressed his support to the Nano project.
Pyramid Saimira may buy UK chain for Rs 200 crore (ET-28Aug08)
Film theatre chain Pyramid Saimira Theatres is close to acquiring UK’s oldest theatre chain Reel Cinema (earlier Associated British Cinemas or ABC) for around Rs 200 crore. Owned by Loughborough-based businessman Kailash Chander Suri, Reel runs a chain of independent cinemas.
Marksans buys UK co (ET-28Aug08)
Mid-sized pharma firm Marksans Pharma has acquired UK’s leading generic drug marketing company Relonchem for Rs 100 crore. PricewaterhouseCoopers (PwC) advised Marksans in the transaction.
BT may end Tech Mahindra call (ET-28Aug08)
BT may be contemplating an exit from Tech Mahindra. UK’s largest telecom company may sell all or part of its 31% stake in the telecom software services company, according to The Financial Times.
“IT will help the company get more telecom clients if BT quits,” added the official. Currently, over 60% of Tech Mahindra’s business comes from BT, and it recently bagged a deal worth over $700 million from BT.
Tech Mahindra has a market cap close to $2.2 billion, and BT’s stake is worth close to $760 million. However, BT may seek a premium for its shareholding. “Valuation will be more than the M-cap value. It could be close to $1 billion,” the source said.
For news in detail, visit The Economic Times ePaper
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Kosi forces evacuation of 2 million people (TOI-28Aug08)
The fury of Kosi, which struck east Bihar with a vengeance last Monday, may trigger one of the world’s biggest human evacuations ever. The pullout should continue over the next several weeks with a scared populace spread over six districts left with no other option but timely escape.
By now, almost one lakh marooned people have moved to safe highlands, the bulk of them using government boats and many on their own. The reluctant trickle is now taking the shape of a torrent after an emotional appeal by chief minister Nitish Kumar urging people to cut their losses and leave with their cattle. At the time of reporting, over 10,000 had beseeched officials in Madhepura to take them to safety, in what marked a reversal of sorts since 24 hours ago when they simply refused to leave their ‘ghar’. Many more such scenes could be witnessed in the next 48 hours if heavy rain, as forecast by the Met office, hits the area, adding to the huge volumes of water gushing down from Nepal towards the plains of the ill-fated Bihar districts.
The deluge has, at any rate, presented a gigantic task of moving over 20 lakh people to protected zones.
By Friday, the government expects to deploy 900 boats—motorised and manual— into evacuation work and at an average of 100 people per boat, the daily shift could shoot to a whopping 90,000. The number of people voluntarily finding their way to safety will also continue to rise because they are slowly realizing that the worst of the Kosi may not yet be over.
The first impact of the worsening weather was felt on Wednesday when the three relief helicopters—which are a lifeline for the thousands marooned—could do just two sorties.
Can NRIs & PIOs help the 2 million affected fellow Indians in some way?
Jammu hostage drama ends (TOI-28Aug08)
3 Terrorists Killed, 4 Kids Taken Captive Believed To Be Safe
As dusk fell on Wednesday, the generators were brought in and the floodlights lit. Bullets had stopped flying, but the killer was still holed in, the barrel of the fidayeen’s Kalashnikov trained on a woman and four children, one of them a three-year-old. Two of his fellow terrorists had fallen. However, the lone fidayeen was holding out, using the children as shields. But not for long.
Eighteen hours after it began, all three terrorists had been gunned down by soldiers of the Jammu and Kashmir Light Infantry, who had dug in for a fight. Their mission: to get the killer-fidayeen but save the little lives. Past midnight, Jammu senior SP Manohar Singh confirmed that all three fidayeen had been killed but said the fate of the hostages was not known. One TV channel, however, said that the children were safe.
This is the first time in six years that there has been a terror attack in Jammu city. It comes at a time when sharp differences have divided the Kashmir valley and Jammu. The fidayeen attack was obviously aimed at deepening this divide. The terrorists had crossed the border on Tuesday. More of their ilk could have crossed the border, which means they are still on the prowl.
Orissa remains on boil, toll rises to 15 (TOI-28Aug08)
Violence continued in the communally-sensitive Kandhmal district of Orissa on Wednesday as members of Hindu and Christian communities clashed. One person was killed in Phiringia, taking the official death toll in the communal violence which erupted following the killing of VHP leader Swami Laxmananda Saraswati and four of his disciples on Saturday, to ten. Unconfirmed sources, however, put the toll at 15.
Enchanting Tamil Nadu (TOI-28Aug08)
Weaving in the past and the present, heritage tourism is the buzzword in Tamil Nadu...
What could be exciting about a new Assembly complex in Chennai that's being built this year to house elected members of a State government? It will probably draw a blank with most people living in the State, leave alone tourists who come from far-flung destinations. But the octogenarian Chief Minister of Tamil Nadu doesn't think so.
He spent hours poring over the project details with German architectural firm, GMP international, which was selected from among seven bidders by issuing global tenders. Sources in official circles said Dr M Karunanidhi was keen that even while possessing contemporary architectural aspects, the Assembly complex should have elements, from traditional Dravidian style architecture. It's perhaps one more instance to show how TN takes pride in history and finds out means to showcase it. And there is always a strong recall of it- be it in politics, cinema or music.
There are strong linkages to history even when it comes to the State's initiatives on the tourism front. Heritage tourism, for example, has been getting a lot of thrust, considering that five out of the 26 UNESCO-declared monuments are part of the TN map. The five heritage sites include Mamallapuram, Thanjavur, Gangaikonda Cholapuram, Darasuram and the Nilgiri Mountain Railway. The government is trying to capitalise on its rich history by wooing investors to start hotels in these areas and also undertake efforts to convert heritage buildings into lodging houses. The Union Budget this year has also given the TN tourism sector reasons to cheer. The Finance Minister proposed to grant a five-year holiday to two, three or four-star hotels that are established in specified districts which have UNESCO-declared 'World Heritage Sites.'
Tourism officials are of the view that Tamil Nadu should try to exploit its nativity in a big way. Hotels with classic architecture, regional cuisine, cultural programmes and tour programmes designed to expose tradition would make visitors’ experience more memorable. Till some years ago, TN was typecast as a land full of temples, ironically cursed with a humid climate throughout the year. But, because of recent initiatives, the State is being branded as a classic yet contemporary tourist destination that has something for everyone. The myriad areas getting attention include ecotourism, rural, medical, cultural, heritage and pilgrimage tourism. With the industrial and commercial boom in the region, business tourism is also catching up in the State.
For news in detail, visit The Times of India ePaper
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Icy Spicy
Priyanka Chopra’s fashion sense (BT-28Aug08)
After two flops in a row, Priyanka Chopra aka Piggy Chops is gearing to regain her lost ground. We hear she’s pinning her hopes this time on Madhur Bhandarkar’s Fashion. And those who have seen the rushes of the film swear by Priyanka’s powerhouse performance in the film. Chalo, we think after Love Story 2050 and God Tussi Great Ho, Fashion might be a saving grace!
For More Pics, do visit Bombay Times ePaper
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