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Asset Homes to invest Rs 500 crore in 7 projects in Kerala

Posted by Unknown | Wednesday, September 17, 2014 | Posted in



Kochi: Asset Homes, one of the largest real estate companies in Kerala, would be launching seven new projects across seven districts in the state with an investment of Rs 500 crore.

The projects are coming up at Thiruvananthapuram, Kollam, Kottayam, Kochi, Thrissur, Kozhikode and Kannur, Managing Director V Sunil Kumar told reporters here.

About 10 lakh square feet of space, housing about 700 apartments, will be built as part of the seven projects. "As part of our seventh anniversary celebrations Asset Homes is planning to launch seven new projects across seven locations in Kerala," he said.

The company is organising an exclusive event titled Mehfil in Dubai, featuring Ghazal Maestro Pankaj Udhas in connection with the project launches.

On plans to foray into other states, Sunil said they do have plans to go to Tier II and III cities. "We have identified such cities and will be taken up in 2015-16 as part of affordable housing projects."

Expressing happiness at their project Asset Kasavu at nearby Kalamassery getting the coveted seven Star Rating, he said this was their third residential project to get it and Asset was the only builder in the country to have achieved this.

Asset Kasavu with 50 villas spread over 4.10 acres is priced at around Rs 1.5 crore each, Anil Varma, Executive Director said. The project has a dedicated 10,000 sq ft Club house and amenities such as air conditioned health club, multipurpose banquet hall, sauna, jacuzzi, library and furnished guest rooms. The builder has completed and delivered 34 projects in a period of seven years.

Rs 2700 crore Central aid for renovation of Kochi shipyard

Posted by Unknown | Tuesday, September 16, 2014 | Posted in



New Delhi: The Centre has sanctioned Rs 2700 crore financial aid for the renovation of Kochi Shipyard and for developing infrastructure to transport Liquefied Natural Gas (LNG).

Union Shipping Minister Nitin Gadkari said the fund allotted was part of ‘Make In India’ scheme announced by Prime Minister Narendra Modi during his Independence day address.

Three ships will be constructed to transport LNG and Rs 4500 crore has been earmarked for the purpose. The Centre has also sanctioned Water bus service in Kochi-Andaman route.

Passenger Cargo arrangement will be upgraded to international standards and for this, technical help will be sought from France.

Gadkari said the Kochi shipyard, where only local ships are currently manufactured, would be added with new facilities to manufacture foreign ships. A dredger factory would also be installed in Kochi.

Google most attractive employer among Asia-Pacific graduates

Posted by Unknown | Saturday, August 2, 2014 | Posted in ,


Internet giant Google is the most attractive employer for graduates from the Asia-Pacific region in a list of top companies which figures no Indian firm.

According to global employer branding firm Universum's 2014 Most Attractive Employers in Asia Pacific Ranking, Google has emerged as the most desirable employer among business, as well as engineering and IT students in the APAC region.
Google is followed by Deloitte, Citi, Apple and P&G in the top-five firms for business students. Among engineering and IT students, Google is followed by Apple, Microsoft, Samsung and BMW.
The list has 50 companies each for the two categories, but no India company figures in either of the lists, although a number of these companies have significant headcount in India.
Interestingly, the latest Fortune Global 500 list has eight Indian companies including state-run IOC which was featured in the top 100 at the 96th position.
Besides, Deloitte, the other three major accounting firms were also placed among the Top 10. KPMG was ranked sixth, PwC seventh and Ernst & Young eighth.
The popularity of banks and professional service firms among APAC graduates were also visible in the rankings as these firms took 11 of the top 20 employer positions.
The FMCG sector also had significant presence in the list as the four key players featured include P&G ranked fifth, Unilever 14th, Nestle 16th and the L'Oreal Group 20th.
While Google continues to dominate the rankings as the top employer for engineering/IT students, Samsung is a close competitor in Asia Pacific.
On the other hand, former communications and IT giant, Nokia, continues to fall in the rankings at 32nd place this year.
The survey further revealed that high future earnings' is a top priority across Asia Pacific for both management /commerce students and engineering/natural science students, the report added.



Samsung Galaxy Note 3 and Galaxy Note 3 Neo Receive Price Cuts in India

Posted by Unknown | | Posted in


Samsung has officially slashed prices of two Galaxy smartphones in India - the Galaxy Note 3 and Galaxy Note 3 Neo.
Both the smartphones are now available with the new prices via the company's official India online store. The Samsung Galaxy Note 3 (Review | Pictures) is now priced at Rs. 40,698, down from the previous price tag of Rs. 47,990. The Samsung Galaxy Note 3 Neo (Review | Pictures), on the other hand, is now priced at Rs. 29,570, down from its earlier price of Rs. 33,990.
Notably, the South Korean giant is also teasing the new price cuts for the Galaxy Note 3 and Galaxy Note 3 Neo smartphones in India via newspaper and TV advertisements.
In April, the Galaxy Note 3 Neo received an official price drop to Rs. 33,990, down from the smartphone's launch price of Rs. 38,990.
Samsung launched the Galaxy Note 3 in India at Rs. 49,900 last year, while the Galaxy Note 3 Neo went on sale in January.
Samsung is famous for quietly slashing prices of its devices as the company officially slashed the price of the Galaxy S4 (Review | Pictures) and Galaxy S4 Mini in May. Last month, the company slashed the price of its Gear Fit fitness band to Rs. 12,100, down from its launch price of Rs. 15,450
Prior to this, Samsung, in an attempt to dismiss reports about a possible price cut in the Galaxy S5, had to clarify by issuing an email statement to the media that said, "reports claiming Samsung Electronics has revised prices of Galaxy S5 (Review | Pictures) are false and baseless" and the Galaxy S5 "continues to be priced at Rs. 51,500."
Samsung Galaxy Note 3

Samsung Galaxy Note 3

Rs. 49900
  • Design
  • Display
  • Software
  • Performance
  • Battery life
  • Camera
  • Value for money
  • Good
  • Brilliant HD screen
  • Excellent performance
  • Latest OS version
  • Options for easy single-handed operation
  • Bad
  • No FM radio
  • No 4K video recording
  • Expensive
  • Bad low light photography
Read detailed Samsung Galaxy Note 3 review
Samsung Galaxy Note 3 Neo

Samsung Galaxy Note 3 Neo

Rs. 38990
  • Design
  • Display
  • Software
  • Performance
  • Battery life
  • Camera
  • Value for money
  • Good
  • Great battery life
  • S Pen functionality
  • Good viewing angles
  • Decent colour reproduction
  • Bad
  • Mediocre camera
  • Sub-par graphics performance
  • Plain design
Read detailed Samsung Galaxy Note 3 Neo review

For 10 days, Jailed Sahara Chief Subrata Roy Can Stay in Conference Room

Posted by Unknown | Friday, August 1, 2014 | Posted in ,


The Supreme Court has allowed Subrata Roy, the chief of the Sahara group of companies, to stay in and use the conference room at Delhi's Tihar Jail for 10 days while he negotiates the sale of his properties, including three hotels overseas.
Mr Roy has been lodged in Tihar Jail since March this year.
The court emphasised today that it was allowing "this arrangement for 10 working days only to negotiate sale of properties." It has also allowed two Sahara directors, also in jail, to stay in the conference room along with Mr Roy.
On the court's orders the Sahara chief can bring to the conference room a mobile phone, a desktop computer and two laptops. Two secretarial assistants and one technician will be allowed to help them from 6 am to 8 pm on these 10 working days. The Tihar Jail will provide video-conferencing and internet facilities, for which Sahara will pay. 
Mr Roy, 66, has been arrested over his group's failure to repay lakhs of small investors who were sold bonds that were later declared illegal. Numerous attempts by lawyers to have him released on bail have been unsuccessful.
The court had asked Sahara to deposit Rs. 10,000 crore initially to secure the release of its top man on bail. Now, the Income Tax department has told the court that Sahara has to pay Rs. 10,049 in tax dues.
Sahara has said it does not have the kind of money it has been ordered to pay to secure bail for its chief and has been offering to do so in installments.
Sahara, whose assets include the landmark Plaza hotel in New York and Grosvenor House in London, has also offered to sell its three overseas hotels to meet the payment demands. The judges had asked for more information, including approval from Bank of China, with which the assets are pledged.
Mr Roy's lawyers had pleaded that he needs to be able to meet with representatives of prospective buyers and conduct negotiations through videoconferencing. At the last hearing, the judges had asked Mr Roy's lawyers and jail officials to agree on a plan to be reviewed today.
In 2012, the Supreme Court ordered Sahara to repay, with interest, all investors who subscribed to bonds sold by two of its businesses, saying the company had not met the rules prescribed the Securities and Exchange Board of India (Sebi).
While Sahara says it has repaid most of the money and that the remaining sum owed is about Rs. 2,500 crore, the Supreme Court and the Sebi have disputed that.

Have You Argued Yet Over This Boss-Wife Ad?

Posted by Trueline Radio | Thursday, July 31, 2014 | Posted in ,


Is it about a perfect relationship or about gender power play? Or does it stereotype the woman, even one who is a super-achiever? The jury is still out as a debate rages over a new ad by a leading telecom company that attempts to pitch its network as cupid in a modern family context.

Here's how the ad rolls -- a perfectly turned out super-boss asks her team to get a job done the same day. She indicates that "can't be done" is not an option. The boss leaves while her subordinate is hard at work.

Alone in the office, he gets a call from his wife who is whipping up dinner for him. She suggests he abandon work and come home to a great meal. For good measure she video calls him.

Turns out boss is also wife.


On social media some people have slammed the ad as "regressive." Others argue that it is not so - well-known author Shobhaa De said the ad depicts "consensual domesticity" and not "enforced domesticity." (Watch)

Then there are those who allege that the ad is flawed - HR policies in most places, they say - some of them in satirical tweets - don't allow husband and wife to work in such a situation. There are still others who have joined long conversations to say, "Hey it's just an ad."

Either way, it's a successful campaign - it has got the eyeballs and generated buzz.


We are still wondering though whether the assignment got done that day.

Flipkart Digiflip Pro XT 712 Voice-Calling Tablet Launched at Rs. 9,999

Posted by Unknown | Friday, June 27, 2014 | Posted in



After much anticipation, Flipkart has finally launched its first tablet, the Digiflip Pro XT 712. The first tablet from Flipkart has now gone on sale priced at Rs. 9,999, and is listed to be delivered in two to three business days. The move mirrors global competitor Amazon's strategy of tying-in content and shopping privileges to its Kindle Fire tablets.

Notably, the online marketplace giant is offering a number of offers to the consumers to make theDigiflip Pro XT 712 tablet a sweet deal. Some of the offers listed by Flipkart include free shopping worth Rs. 5,300 on Flipkart via mobile app; try and buy offer for limited period; free one-month subscription of Flipkart First; flat 50 percent off on book case worth Rs. 799 for Digiflip Pro tablet; free Plantronics ML2 Bluetooth headset worth Rs. 1,199, and free eBooks on Flipkart worth Rs. 2,300.

The Digiflip Pro XT 712 comes with dual-SIM and dual standby support (GSM+GSM), and offers the voice-calling feature. It runs the now-dated Android 4.2.2 Jelly Bean out-of-the-box, and sports a 7-inch (1280x800 pixels) IPS HD display. The tablet is powered by a 1.3GHz quad-core MediaTek (MT8382) processor with 1GB of RAM and Mali -400 GPU. It comes with 16GB of inbuilt storage, which is further expandable via microSD card (up to 32GB).

It sports a 5-megapixel autofocus rear camera with LED flash, while there is a secondary 2-megapixel front-facing camera also onboard. On the connectivity front, the Digiflip Pro XT 712 includes 3G, Wi-Fi, Micro-USB, A-GPS, GPRS/ EDGE, and Bluetooth options. The tablet packs a 3000mAh battery, which is rated to deliver up to 8 hours of talk time and up to 168 hours of standby time. The Digiflip Pro XT 712 will be available in Black and White colour variants.

The Black colour variant of the Digiflip Pro XT 712 has already gone on sale via Flipkart, while the White model is expected to be available soon.

Commenting on the launch of first tablet, Michael Adnani, CP- Retail & Head - Brand Alliances, Flipkart said, "We are the first e-commerce marketplace in India to launch our own device through Digiflip Pro. With this, we have taken another step in our goal towards building an entire e-commerce ecosystem in India. With one of the largest user-bases in the country, we have access to unparalleled data that allows us to predict what kind of products and services will work well in the market. And this has helped us come out with a tablet like Digiflip Pro XT712 that offers high-end specifications at unheard of price-point in India thus delivering great value to our customers."

No Information on Black Money List from Switzerland: Finance Minister

Posted by Unknown | Monday, June 23, 2014 | Posted in


Delhi: The government has not received any communication from Switzerland about "black money" suspected to be stashed in Swiss banks, Finance Minister Arun Jaitley said today.


"We are writing to Swiss authorities so that the details or whatever information they have can be expedited and the cooperation between Swiss authorities and the government can bring fruitful results," said Mr Jaitley, whose BJP had made bringing back black money a key campaign pitch before the recent national election.

The minister was reacting to reports that Switzerland is compiling a list of Indians suspected to have stashed untaxed wealth in its banks and the details are being shared with the government.

In a statement, the Swiss government said, "Since a high-level Swiss delegation met with its India counterparts in New Delhi in February, no further official meeting has taken place. There is no new development to be reported." 

The Press Trust of India had quoted a Swiss government official as saying that the country is trying to identify those suspected to hold untaxed money in Swiss banks "through structures like trusts, domiciliary companies and other legal entities."

He reportedly refused to name these account-holders or reveal the size of the funds they held in Swiss banks, citing a confidentiality clause in the bilateral information exchange treaty with India.

The Swiss government today said, "Switzerland is committed to resolving any open question with India and trusts that India shares its understanding that any solution can only be found within the established national and international legal frameworks."

After being voted to power, the Modi government set up an 11-member Special Investigation Team to help identify Indians stashing money in foreign accounts. The team is headed by Justice MB Shah, a former Supreme Court judge.

The Supreme Court had repeatedly censured the previous UPA government for failing to take strong steps to recover black money. The UPA had then argued that a mechanism was already in place to deal with tax evasion and black money.and a court-supervised investigation was not needed.

Swiss Government Prepares List of Indians With Suspected Black Money

Posted by Unknown | | Posted in ,


Zurich: In a major boost to India's fight against black money, Switzerland has prepared a list of Indians suspected to have stashed un-taxed wealth in its banks and the details are being shared with Indian government.


The names of these Indian individuals and entities have come under scanner of the Swiss authorities during an ongoing exercise to identify real beneficiary owners of funds held in various banks operating in Switzerland, a senior Swiss government official said.

"These individuals and entities are suspected to have held un-taxed money in Swiss banks through structures like trusts, domiciliary companies and other legal entities based out of countries other than India," the official said.

He refused to divulge the identity of these persons and entities, as also the quantum of funds held by them in Swiss banks, citing confidentiality clause of the bilateral information exchange treaty between the two countries.

The official further said that Swiss authorities were very keen to work with the new government in India and they would also provide all necessary support to the newly set up Special Investigation Team (SIT) on black money.

He, however, dismissed claims that black money stashed in Swiss banks by Indians could be trillions of dollars, as the latest Swiss National Bank data pegs the total foreign client money across 283 banks in Switzerland at US $1.6 trillion.

When asked about rise in Indian exposure to Swiss banks at 2.03 billion Swiss francs (Rs. 14,000 crore), he said these are the funds held by clients who have declared themselves as Indian and therefore were unlikely to be ill-gotten wealth.

While declining to be named, as he is not authorised to speak to media, the senior official further said the details are being shared with India on a 'spontaneous' basis and are different from the information sought earlier by the Indian authorities on the basis of 'leaked' or 'stolen' lists of certain banks, including the so-called 'HSBC list'.

AirAsia CEO: Some Airlines Scared of Us

Posted by Trueline Radio | Tuesday, June 3, 2014 | Posted in




After triggering off an airline fare war, AirAsia has now made some strong comments against rivals. Ahead of AirAsia India's maiden flight on June 12, the budget carrier's group CEO Tony Fernandes in a recent tweet said, "Some airlines scared of us. We must be doing something write (sic). Help us people of India. Don't let cartels win and not let ordinary man fly."

His tweet comes in the backdrop of other domestic airlines represented by Federation of Indian Airlines urging the government to advise the Directorate General of Civil Aviation (DGCA) not to allow the new no-frill airline to launch its operations. Federation of Indian Airlines claimed that approvals granted to AirAsia India were "illegal".

FIA's letter sent by associate director Ujjwal Dey said: "It is obvious that the actions taken by the last government and more particularly by the DGCA have been to preempt a review of this matter by the new government and to proceed with indecent haste ... While foreign investment needs to be encouraged, the same cannot be at the cost of the domestic industry, which is rightly the position of this government as in the case of FDI in retail."

AirAsia India had won flying permit from Indian regulator, the DGCA, last month. Tata Group and Delhi-based investment firm Telestra Tradeplace are AirAsia's partners in the Indian venture.

Even before AirAsia's takeoff into Indian skies, it has triggered a fare war.


Budget carriers IndiGo and SpiceJet have launched special offers on routes AirAsia India is set to begin operations. AirAsia India is set to begin its India operations from June 12 on the Bangalore-Goa route. AirAsia flights from Bangalore to Chennai commence on June 19, 2014.

End to Ambassador era: Hindustan Motors suspends production of iconic Ambassador car

Posted by Unknown | Monday, May 26, 2014 | Posted in


New Delhi: Nearly, seven decades after the first Ambassador rolled out, Hindustan Motors has suspended production of the iconic vehicle, citing lack of demand and the growing debt.


The company informed the Bombay Stock Exchange, citing "very low productivity, growing indiscipline, critical shortage of funds, lack of demand for its core product ... and large accumulation of liabilities".

“The company’s best efforts to revive the unit have failed. Given the circumstances, it has no alternative but to declare suspension of work at the plant with effect from May 24, 2014,” a spokesperson from the CK Birla Group company said in a statement on Saturday.

Modeled on British Morris Oxford III, the Ambassador was the first car to be made in India, and once held huge share in India’s passenger vehicles market of the ‘70s and early ‘80s but lost its lead when companies like Maruti Suzuki, Hyundai and Ford came to India, relegating it to a mere ‘sarkari’ (government) vehicle.

The design of Ambassador, easily the most recognisable car on India's roads, has not changed in nearly sixty years. Though still used as a taxi in some Indian cities, the Ambassador has long been a preferred choice of a dwindling share of bureaucrats and politicians, usually in white with a red beacon on top and a chauffeur at the wheel. Though it is still the official vehicle for some of the country’s elite, including the Army chief and Congress president Sonia Gandhi, a lot of politicians have moved on to SUVs and sedans from the likes of Mercedes Benz, Audi and BMW.

From a high of 24,000 units a year in the mid-1980s to under 12,000 a decade later, Hindustan Motors was able to sell about 2,200 Ambassadors in the fiscal year ended in March 2014, a tiny share of the 1.8 million passenger cars sold during the year in India, according to industry data.

In the final days of the Uttarpara plant, the 2,600-odd workers were manufacturing just five cars a day; while Maruti Suzuki manufactures 5,000 vehicles daily.

Industry watchers say chances of revival of the "grand old lady" of the Indian car market are slim. 

it would be difficult for the "grand old lady" of the Indian car market to make a comeback. HM has been referred to the Board for Industrial and Financial Reconstruction (BIFR) which is meant for sick units. 

“Efforts to find strategic investors have not materialized and the company faces a critical shortage of funds. The company’s efforts are falling short of the large liabilities that have been accumulated,” the statement issued by HM.

India-Born Hinduja Brothers Emerge Richest in Britain

Posted by Unknown | Monday, May 12, 2014 | Posted in


London: India-born Hinduja brothers, Srichand and Gopichand Hinduja, have emerged as the richest men in Britain with a net wealth of 11.9 billion pounds (about $20 billion), according to a report.


The owners of the global conglomerate Hinduja Group saw their fortune rise by 1.3 billion pounds during last year, the Daily Mail reported citing the 2014 Sunday Times Rich List that will be published May 18.

The London-based businessmen, who ranked third last year, replaced last year's richest man Russian business magnate Alisher Usmanov at the top after the Arsenal shareholder saw his fortune fall to 10.65 billion pounds, the report said.

Lakshmi Mittal, an Indian steel tycoon owning ArcelorMittal, ranked third in the list with a fortune of 10.25 billion pounds.

The study revealed a total of 104 billionaires based in Britain with a combined wealth of more than 301 billion pounds. 

That number has more than tripled in a decade, according to the list. 

The richest Briton on the list is the Duke of Westminster whose fortune rose to 8.5 billion pounds. 

Of the 104 billionaires, London is home to 72 of them -- the highest in any city in the world. 

The list also pointed out that Britain has more billionaires per head of population than any other country in the world.

Central Bank suffers loss

Posted by Trueline Radio | Saturday, May 10, 2014 | Posted in





Central Bank of India reported a net loss of Rs.1,263 crore for 2013-14 as compared to a net profit of Rs.1,015 crore in the previous financial year, due to higher provisioning. Provisions for the year jumped 128 per cent to Rs.4,233 crore from Rs.1,853 crore.

The bank reported a 4 per cent drop in its net profit for the fourth quarter ended March 31, 2014, at Rs.162 crore against Rs.169 crore in the year ago period. Sequentially, the profit increased over 150 per cent from Rs.62 crore in third quarter of 2013-14.

The net profit was down due to higher provision for bad loans.

“We had major slippages in sectors such as textile and cement which led to rise in non-performing assets (NPA) during the period,” said Rajeev Rishi, Chairman and Managing Director. “I believe things are likely to improve from now on. The worst is behind us,” said Mr. Rishi.

Andhra Bank

Increased bad debts, costs and higher provisioning for non-performing assets (NPAs) pushed Andhra Bank’s profit down by 74 per cent to Rs.88.08 crore in the fourth quarter ended March 31, 2014, said its Executive Director S. K. Kalra. The profit was Rs.344.58 crore in the year ago period.

Gross NPAs were higher at Rs.5,857.60 crore against Rs.3,714.49 crore.

The bank made a provision of Rs.666.65 crore for these during the period, while it was Rs.187.36 crore in the last quarter of the previous fiscal. Total income rose by 9.3 per cent to Rs.4,048 in the fourth quarter of 2013-14.

The bank recorded a 12 per cent growth in total income to Rs.15,630 crore for the whole of 2013-14, Mr. Kalra said.

Dena Bank

Dena Bank has reported a 49 per cent jump in its net profit at Rs.187.28 crore in the fourth quarter ended March 31, 2014, against Rs.125.67 crore in the year ago period. Total income has risen to Rs.2,866.78 crore from Rs.2,539.74 crore.

For 2013-14, the bank recorded a 32 per cent decline in profit to Rs.551.66 crore from Rs.810.38 crore in the previous financial year.

Total income rose to Rs.10,895.20 crore from Rs.9,554.85 crore in 2012-13.

Eicher Motors

Eicher Motors has reported a 42 per cent increase in its consolidated net profit at Rs.139.12 crore in the first quarter ended March 31, 2014, driven by robust sales of its Royal Enfield motorcycles, against Rs.97.94 crore in the year ago period. Total income from operations rose to Rs.1,924.22 crore from Rs.1,724.33 crore. The company follows January-December financial year.

“We plan to invest around Rs.2,000 crore on various businesses in 2014-15. Around Rs.1,300 crore would be invested in the VECV business, while Rs.600 crore has been earmarked for Royal Enfield business,” Managing Director & CEO Siddhartha Lal told reporters on a conference call.

Saudi Arabia bans import of Indian chili peppers

Posted by Unknown | | Posted in ,




Riyadh: Saudi Arabia, the fifth-largest importer of fresh vegetables from India, has banned the import of Indian chili due to the presence of high pesticide residues in it, media reported Friday.

"We have been informed about the Saudi ministry of agriculture's decision to ban chili pepper beginning May 30," Arab News quoted Surinder Bhagat, second secretary of politics and commerce at the Indian embassy here, as saying.

"We are in touch with the Saudi authorities to resolve the issue," he added.

An agriculture ministry official said that the decision to ban the import of chili peppers was made after a sample testing of an Indian shipment found the presence of high level of pesticides, the report said.

"It has been brought to the attention of the authorities here that in recent vegetable consignments from India, there have been interceptions of higher than permissible levels of residues of pesticides," the ministry statement said.

"If the situation persists, the government of Saudi Arabia will take action in the near future," it added.

Following the Saudi government statement, Indian Agricultural and Processed Food Products Export Development Authority (APEDA) advised exporters to adhere to the this Gulf nation's import requirements and sought the testing of products before they are exported.

"As a region, West Asia is very important to us. We, therefore, do not want to face repercussions from Saudi Arabia, or any other country in the region. Hence, we have advised our members to test export oriented goods carefully before shipping," an APEDA statement said.

The Indian Spices Board said chili peppers are one of India's largest foreign currency earners, and, in the period between April and November 2013, 181,500 tonnes of chili peppers were exported for $3 million.

The European Union (EU) has also temporarily banned the import of Alphonso mangoes and four other vegetables from India May 1.

The decision made by the EU's standing committee on plant health came after 207 consignments of fruits and vegetables imported from India in 2013 allegedly contained excessive pesticide residues.

SC rejects Subrata Roy's plea

Posted by Unknown | Tuesday, May 6, 2014 | Posted in





New Delhi: The Supreme Court Tuesday rejected the plea by Sahara chief Subrata Roy challenging its March 4 order sending him to judicial custody for not complying the order to return investors money by routing it through SEBI.

Roy and two directors were sent to judicial custody for the failure of group's two companies' SIRECL and SHICL to comply with its order to return investors' Rs.24,000 crore that they had collected through Optionally Fully Convertible Debentures (OFCDs).

Roy will continue to remain in custody as the court has asked his counsel to make a revised proposal to return investors' money to secure his release.

Dismissing Roy's plea, the apex court bench of Justice K.S. Radhakrishnan and Justice K.S. Khehar said that there is "no merit and same is dismissed".

The court said that after going through the judgment, Roy could make a revised proposal for returning the investors money as a condition to secure his release.

The court said this as senior counsel Rajiv Dhawan drew the attention of the court to Roy' earlier proposal to deposit Rs.10,000 crore.

Of the Rs.24,000 crore, Sahara India Real estate Corporation Limited and Sahara Housing Investment Corporation Limited have already deposited Rs.5,120 crore in December 2012 with SEBI.

Cochin airport welcomes hundreds of ‘turnaround’ tourists

Posted by Unknown | Wednesday, April 2, 2014 | Posted in



The international terminal of the Cochin International Airport Limited here on Tuesday witnessed a huge movement of international ‘turnaround’ tourists, thanks to the German cruise liner Aida Aura that docked in Kochi on March 30.
As many as 949 international tourists in three aircraft landed here from Germany during the day to board the luxury cruiser while about 827 passengers who had disembarked from the ship, returned by the same aircraft.
The turnaround operations got off to a formal start as the first chartered flight from Frankfurt landed here by 2.25 a.m., followed by three other flights from Dubai, Abu Dhabi and Doha. Senior officials of CIAL were present at the airport to coordinate the simultaneous arrival and departure of tourists, which continued till 9 a.m.
Large coaches and luggage vans were pressed into service to assist the guests.
Though a lean hour, arrangements were made at the immigration counters to expedite the clearance procedure apart from setting up a help desk outside the arrival lounge to carry out the paper works. All the arriving guests were taken straight to the Kochi port to complete the immigration and check-in formalities for boarding the ship.
With Kochi fast emerging as the prime cruise destination in the country, CIAL is taking more proactive steps in developing a ‘cruise exchange’ by connecting the airport with the Kochi port. With the initiative, it proposes to improve the number of chartered aircraft landings at the airport here and seeks to expand revenue from its core service of aircraft landings apart from earning directly for its role as the facilitator.

Liquor sales zoom past Rs.90 bn in Kerala

Posted by Unknown | Monday, March 31, 2014 | Posted in




Thiruvananthapuram: Liquor sales in Kerala during the current fiscal fell down marginally quantitywise but zoomed past Rs.90 billion in value terms.


'This is for the first time that the sales value has crossed Rs.9,000 crore (Rs.90 billion) and with just one more day for the current fiscal to end, it could cross Rs.9,300 crore,' sources in the state excise department told IANS.

Rum reigns as the first choice of tipplers, accounting for more than 55 percent of liquor sold, followed by brandy, with close to 40 percent share. Vodka sales account for four percent while gin, whiskey and wine together account for barely one percent.

The total sales value for the 11-month period (April 2013-February 2014) in the current fiscal touched Rs.8,511 crore and contribution to the state exchequer by way of taxes was Rs.6,830 crore,' said a source, who did not wish to be identified.

In the previous fiscal (2012-13), liquor sales in value terms closed at Rs.8,818 crore and contribution to the state exchequer was Rs.7,241 crore. But in quantity terms, the government expects that there would be a marginal drop, as in the previous fiscal a record 24.4 million cases of Indian Made Foreign Liquor (IMFL) were sold.

'Till February 2014, sales of 22 million cases of IMFL were recorded and by Monday, the sales for March 2014 would be around 2.1 million cases. It means, in quantity terms there is going to be a marginal fall compared to the previous fiscal,' said an excise official.

The sale of beer in quantity terms grew by five percent by the end of last month and by March 31, 2014, beer sales were expected to touch 10.7 million cases -- up compared to 9.5 million cases in the previous fiscal.

Liquor is sold in the state through 708 bar hotels and 383 state-owned retail outlets.

And the world's best airport is ...

Posted by Unknown | Friday, March 28, 2014 | Posted in




Singapore Changi Airport has been crowned the best in the world for the second year in a row at the World Airport Awards, announced Wednesday in Barcelona, Spain.

Changi, which also won the award for best airport leisure amenities, beat out second-place Incheon International Airport in South Korea and third-place Munich Airport in Germany.

The awards are based on surveys conducted by Skytrax, an international travel research and consultants firm, which polled 12.85 million passengers across 110 nationalities about 395 airports worldwide.

7 of the world's most entertaining airports

"Changi Airport offers a travel experience in itself and continues to develop its quality standards to be named the world's favourite airport again," Edward Plaisted, CEO of Skytrax, said in a news release.

"Changi Airport is a well-known leader and innovator for the airport industry and genuinely delights and surprises travellers who are lucky enough to enjoy the airport facilities. Changi Airport demonstrates how to make the airport experience an enjoyable part of the journey that is so important in today's fast-moving world."

Changi served more than 52 million passengers in 2012. No wonder it's popular: The airport has an on-site movie theater, swimming pool, gardens and trails.

A day in the life of the world's busiest airport

Five of this year's top 10 airports were based in East Asian cities, and four were in Europe, just like last year's award winners. Just one North American airport -- Vancouver -- cracked the top 10.

The World's Best Airports 2014

1. Singapore Changi Airport

2. Incheon International Airport (South Korea)

3. Munich Airport (Germany)

4. Hong Kong International Airport

5. Amsterdam Schiphol Airport

6. Tokyo International Airport (Haneda)

7. Beijing Capital International Airport

8. Zurich Airport (Switzerland)

9. Vancouver International Airport (Canada)

10. London Heathrow Airport (England)

China sells bottled fresh air to tourists

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Beijing: After insurance schemes for tourists, China is planning to sell bottles of oxygen so that the tourists can enjoy the breath of fresh air, Mail Online reported.

In an attempt to address its dangerous smog levels described as an environmental crisis by the World Health Organisation canned air is due to hit the streets, the report said.
The bottles of air will to be manufactured as part of a tourism scheme by authorities in the Guizhou province, the report added.
Air from the area’s eco-tourism zones such as Fanjing and Leigong mountains will be bottled, and on the shelves to be sold from June 20, the UK-based site said.

Unable to pay home loan EMIs? Here's what you can do

Posted by Unknown | Sunday, March 2, 2014 | Posted in




Kochi: Owning a home is more of a basic necessity rather than a luxury these days. Home loans have been designed to let you not miss out on this necessity. Once the loan is disbursed, the bank expects you to start paying EMIs every month till the tenure of the loan. All would be fine till you pay the home loan EMIs on time. What if you stop paying them because of a medical emergency or losing a job? This article will tell you what would happen if you stop paying EMIs and the options you have in such a situation.

Will skipping EMIs make you a loan defaulter?

Usually, banks do not consider you to be a loan defaulter when you skip one EMI. However, if you do it for three consecutive times, you will be sent due reminders of the same. Lack of response from your side will make the bank send a legal notice to you. You will then be termed as a loan defaulter.

What happens if you become a loan defaulter?

Once you become a loan defaulter, the bank will start the process of taking over your property. They can arrange an auction to sell your house/flat and recover their due amount. If you want to take any action, you need to take before this auction. Apart from this, your credit score will also be hit hard and you might not be eligible for loans in the future. This can be the worst thing to happen to you.

What are the options in this situation?

The best option for you would be to negotiate with the lender upon this. Banks will be ready to talk you over this issue rather than going through the tiresome process of taking over your asset. You can reach out to them with the past documents of EMI payments for this loan or the previous loans that you have cleared. Let us see what all options you have in hand:

1) Ask for a grace period - You can seek a grace period from the bank in order to continue with the EMI payments. You can clearly explain to them the reasons for not being able to pay EMIs such as loss of job or dip in sales of business, etc. Bank may be willing to give you the grace period for resuming EMI payments with some penalty.


2) Loan refinancing - There could be a case where the interest rates have gone up and hence you may not afford the increased EMI. You can talk to the bank to restructure or refinance your home loan. They can increase the tenure of the loan as a result of which your EMI would go down. Though this will result in you paying more, it will be better than losing possession of the property.


3) Counseling centers - There are counseling centers to help you with this issue. They would provide you the appropriate options based on your situation. They will also give you fair knowledge on the things to be followed so that you do not fall into a debt trap. Dena Bank has a credit counseling center which does exactly this.


4) Liquidating your investments - This will be the final step that you can resort to, if the above options do not work out for you. You can liquidate your existing investments such as deposits or mutual funds to pay the EMIs. You can also use this amount to make part payment for the loan which will reduce the EMI going forward.

Conclusion

So, these are the options you have in case you default or delay your home loan EMIs. To avoid such things, you need to make sure that you have at least 5-6 months of expenses kept aside as an emergency fund. This will help you tide over the crisis. You also need individual health insurance and critical illness policy along with riders including that which pays for a loss in job.