Tuesday, January 27, 2009








Headline

From

Emerging India

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Hand-picked News For Busy NRIs & PIOs
Issue No. 131 Evening Edition IST
Corporate World . Politics . Investment Opportunities in India
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Headline News in this issue:

  • Tata, Sonia, Sachin people’s pick
  • Former President Venkataraman passes away
  • Details of PM's 11-hr heart surgery
  • IPS officer held with heroin
  • Everybody wants to fire expats first
  • India story gets richer
  • IcySpicy: Dev’s taking New York by storm!

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SENSEX: 8,813.8 DOWN 58.4 % from 52-wk high

FOREX-Rs: USD 48.83 / EUR 64.60 / GBP 68.72

Do read Investment Advice for long-term investors in this issue.

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Former President Venkataraman passes away

Former President R Venkataraman passed away on Tuesday in New Delhi. The 98-year-old former President was admitted to the hospital on January 12 with complains of Urosepsis (a toxic condition caused by the extravasation of urine into bodily tissues).

Tata, Sonia, Sachin people’s pick (TOI,Mum,26Jan09,Pg1)
Top Their Categories In 8-City TOI-TNS Poll

With 44% the votes in an eight-city survey and 56% in online responses, Tata was way ahead of the field. Mukesh Ambani, with 25% in the physical survey and 10% online was second, his younger brother Anil Ambani was third.

For the Woman of the Year, the physical survey saw Sonia Gandhi emerging the clear winner with 39% votes, followed by Sheila Dikshit with 15% and Katrina Kaif with 10%.

The eight-city survey, done exclusively for TOI by leading market research agency TNS, had Sachin Tendulkar on top with 26% and M S Dhoni just one vote behind, while India’s first individual Olympic gold medallist Abhinav Bindra finished third with 20%.

In the online poll, however, Bindra was topped with 37%, Viswanathan Anand second with 17% and Sachin, Dhoni and Saina shared the third position with 12% votes each.

IPS officer held with heroin (TOI,Mum,26Jan09,Pg1)
Cop Was Trying To Sell Drugs Worth Rs 12 Cr In Andheri

The Maharashtra Anti-Terrorism Squad (ATS) on Saturday afternoon arrested Saji Mohan, a senior IPS officer, on charges of drug trafficking when he was caught with 12 kg of heroin at Oshiwara in Andheri. Saji is a deputy director with the Enforcement Directorate in Kerala.

It is the first instance of an IPS officer falling into the drug net, and is deeply ironical as Saji was the man heading anti-drug trafficking activities over a swathe of northwest India for about two years when he was posted as the zonal director of the Narcotics Control Bureau in Chandigarh from 2006-08. Moreover, he had been conferred a bravery award in 1999.

Global cos told to fire expats first (TOI,Mum,26Jan09,Pg1)

US senator Chuck Grassley has asked Microsoft, which announced plans to axe 5,000 staffers because of the economic meltdown, to fire visa workers first, and protect Americans’ jobs. Saudi Arabia, too, has asked all companies in the kingdom to sack expats first if layoffs become necessary.

Jet Airways may ground 50 expats (ET,Mum,26Jan09,Pg1)

Jet Airways is likely to lay off 50 foreign pilots and maintenance engineers over the next six months. The move is a part of the India’s largest private airline’s cost-cutting strategy in the face of declining traffic and a difficult business environment.

‘Getting to PM’s heart took 3-4 hours’ (TOI,Mum,26Jan09,Pg7)

Dr Ramakant Panda, an expert in redo bypass surgery from Asian Heart Institute, Mumbai, was called on to conduct a coronary bypass surgery on PM Manmohan Singh. His technique — beating heart surgery — is believed to be safer than the traditional bypass. He speaks to TOI:

Q: How do you react to questions being asked on why AIIMS called an outside expert to operate on the PM?

A: I am happy that most people at AIIMS extended great cooperation to me and my team. Dr Sampat Kumar, head of the cardio-thoracic department at AIIMS, has been most supportive. However, in every institute or organisation, there are a few who think otherwise. Redo (repeat) bypass surgery is tricky. There are not many surgeons who do it with excellent results. Hence, there is nothing wrong in calling upon an expert when the PM needed a redo surgery. After all, it was Team India batting for the PM.

Q: Were you nervous about operating on India’s PM?

A: Not at all. Once the surgery started, I got into a trance. We took every little step with meticulous precision. Since it was a redo bypass surgery, it was more complicated.

Q: Why did the surgery take 11 hours?

A: A surgeon can reach the heart within five minutes in a first-time cardiac bypass surgery. However, when the chest is cut open a second time, there is fibrosis and a lot of adhesions to clear before reaching the heart. We were surprised at the fibrosis around. After cutting open the chest, it took us over 3-4 hours. Also, we didn’t want to make any errors—it is better to take longer than make a mistake.

Q: Were there any anxious moments during the surgery?

A: Apart from the time it took to reach the heart, there were no difficult moments. Yes, before the surgery, we had planned four bypasses but ended up doing five. This lengthened the process. It was only on the operation table that we realised that the lesion in the right artery was decent sized and needed a bypass as well. We didn’t have any problems during the surgery or thereafter. In fact, the PM has started eating today (Sunday). We have pulled out all lines and plan to make him walk around in the morning.

Q: How much blood did the PM require during the surgery?

A: Usually, during the first bypass surgery, a patient requires 1-2 bottles of blood. In this case, we needed around seven bottles of blood for the PM.

Q: How do you respond to statements that an angioplasty was more suitable for the PM?

A: The PM’s bypass graft was 19 years old. A stent had been placed in the large artery in 2003, but it was recently found to be blocked. If a new stent was used to replace it, there would a 30% chance of the blockage recurring.

Given the fact that four vessels needed attention, an angioplasty with four stents in this case would have had a 50% chance of a repeat procedure in less than six months.

I think Dr Srikant Reddy, who is himself a cardiologist and in charge of the medical team looking after the PM, took the boldest decision of calling for a redo bypass surgery.

For news in detail, visit The Times of India ePaper

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INDIA STORY GETS RICHER (ET,Mum,26Jan09,Pg1)
An exclusive ET study reveals a stunning fact: For the first time, 2009-10 will see the no. of rich households outnumbering poor homes

THE wheel of fortune continues to spin in India, with each level of household income set to move a notch higher next year. For the first time, the number of high-income households is set to exceed the number of poor households in 2009-10, while more than five million mid-income households will hit the high-income bracket.

According to an exclusive analysis done for ET by the National Council of Applied Economic Research’s (NCAER) senior fellow Rajesh Shukla, next year will see the size of high-income homes — with an annual household income (AHI) of more than Rs 2.85 lakh — rise to 46.7 million, overtaking the number of poor households at 41 million.

The NCAER study pegged AHI for poor homes at less than Rs 71,000.Thus, over a million poor households will move into the mid-income bracket and nearly 5 million mid-income ones will hit the high-income category.

For news in detail, visit The Economic Times ePaper

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IcySpicy

Dev’s taking New York by storm! (BT,Mum,26Jan09,Pg40)

We bumped into Slumdog Millionaire hero Dev Patel. He quite liked all the adulation that’s been showered on him. But the boy was so nervous on the evening of the film’s premiere and the Academy Awards nominations, that he couldn’t help but run to the washroom every chance he got.

Well, this apart, the boy has become a hero of sorts, not only in Mumbai and UK, but also in New York! His buddy who was with him that evening told us that Dev couldn’t step onto the road in NYC, as every time he did that, he was hounded for autographs. Now that doesn’t come as a surprise, considering Dev is Danny’s boy after all.

For news in detail, do visit Bombay Times ePaper

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END OF THE DAY STATUS OF THE STOCK MARKET:

Sensex went up by 0.4 % today.

SENSEX: 8,813.8 (+0.4%) NIFTY: 2,713.8 (+0.3%)

DOWN..58.4 % from 21,206.77 the 52-week high of SENSEX

UP...........2.9 % from 8,566.82 the 52-week low of SENSEX

Investment & Wealth Creation Advice:

Please note that our advice is primarily for investors and not for speculators. Investors typically invest with 12-60 month investment perspective. You will therefore find that our advice does not change substantially from issue to issue.

We expect Sensex to come down to 7000-8000 level in the next few months. So, it is going to be a very good time for investments in good stocks.

Also, those who want to invest in realty in India should wait for some time as the flat and land prices are expected to come down substantially in the next 3-4 quarters.

Do consult your investment advisor before making any investment decisions.

Do not purchase shares of a good company at a wrong price. Also, do not purchase shares of a bad company even at a very low price.

Do not put all your eggs in one basket. Diversify your portfolio to de-risk. Do not put more than 33% of your investible funds in stocks or mutual funds. Do not invest in stocks, mutual funds or realty when their prices are quite high. From the high levels, these prices normally come down by about 40-50% and that is when many people lose their hard earned money in a big way.

Make sure that you are not one of those big losers. Make sure that you invest when prices are low and divest when prices are high. Please note that 2009 is going to be a great year for investing your money in stocks, mutual funds & realty in India.

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Disclaimer: Please make all your investments after taking expert advice. NRI.NewsIndia will not be responsible for losses, if any, incurred by you. Through NRI.NewsIndia, we are only making you aware of the investment opportunities in India at a broad level.

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Posted by NRI.NewsIndia at 11:16 PM

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