The Bulletin by Andrew McGlashan
November 23, 2007
The last time South Africa played a Twenty20 they choked in memorable style against India in the ICC World Twenty20 and nearly imploded again this time before coming through by three wickets with a ball to spare against New Zealand at the Wanderers. AB de Villiers, with an unbeaten 52, kept his cool as the home side did their best to hand New Zealand a morale-boosting win, but it was left to Johan Botha to strike the penultimate ball for four.
For three quarters of the match South Africa had everything under control following an impressive performance with the ball. But Jeetan Patel brought New Zealand back into the contest by removing Mark Boucher and Shaun Pollock as de Villiers struggled to find anyone to partner him to the end. With three overs to go they needed 14 but just seven came from the next 12 balls and South Africa started having nervous flashbacks.
To add to the tension Vernon Philander was run out on the second ball of the final over and de Villiers, who'd reached his first Twenty20 fifty off 43 balls, couldn't get the strike. In the end it was down to Botha and he flicked Kyle Mills through midwicket to send the crowd into raptures. Disappointingly it wasn't a full house, a stark contrast to the ICC World Twenty20 final staged on this ground two months ago, but those present witnessed another match which showed how much fortunes can change during 40 overs.
South Africa rested Makhaya Ntini and Andre Nel, and the strength of their reserves was indicated with Pollock collecting three wickets on his return. The home side caught well, although they couldn't hit a barn door with their attempted run-outs, as New Zealand threatened to fall inside the 20 overs before Mills flayed a defiant 33 at the death.
Chasing 130 shouldn't have proved as testing as it turned out. Jacques Kallis, who was controversially omitted from the ICC World Twenty20, looked intent on showing his aggressive side but picked out fine leg after being rushed by Mark Gillespie's bouncer, and Graeme Smith's poor run was extended when he edged Mills.
JP Duminy kept the innings on track with a punchy innings at No. 3. He showed a panache for the pull shot and was shaping to take South Africa home on his own when he slog-swept Daniel Vettori over deep midwicket. But the New Zealand captain had his revenge three balls later with a clever piece of bowling to draw Duminy out of his crease.
Normally secure in the field, New Zealand's catching then began to let them down. de Villiers launched Vettori high into the night sky and Mills couldn't steady himself under the chance at long-off, but that was nothing compared to Gillespie's howler at midwicket to reprieve Boucher. Patel then made his double incision, trapping Boucher lbw - although there was a doubt - and removing Pollock thanks to a fine catch at deep midwicket by Ross Taylor.
The equation reached a run-a-ball as Patel proved difficult to score off, but a meaty six over midwicket from Albie Morkel appeared to seal the result. Not so. Morkel slapped Scott Styris' second ball to cover before Taylor and Lou Vincent combined to run out Philander in the final-over panic. Although New Zealand ultimately couldn't pull off the heist, their fightback should have at least boosted spirits ahead of the one-day series.
Their earlier efforts had been depressingly familiar as the batting slumped to 98 for 7. Brendon McCullum slapped a wide delivery straight to point and Jamie How picked out cover after a promising start in his first outing of the tour. Pollock was the beneficiary on both occasions, making the most of an outing in international colours after missing the recent Tests. Smith was confident enough in his bowlers - or dismissive enough of New Zealand's chances - to keep a slip, or sometimes two, throughout much of the innings.
Morkel bowled a nippy spell to keep the pressure on as Taylor fell in familiar fashion, pushing away from his body and sending an edge to slip, and collected Gareth Hopkins in his final over when the reserve wicketkeeper limply guided a wide ball to point. Vincent scratched around for 20 balls before trying to reverse sweep a low full toss from Botha, whose impressive economy was helped by batsmen tied to their crease.
Styris played an almost lone hand with his 30, but it wasn't until Mills opened up in the closing overs that New Zealand showed real intent. It is no coincidence that Mills wasn't involved in the Test hammerings. He cleared long-off against Dale Steyn and in the final over creamed Charl Langeveldt straight down the ground with a little help from the altitude. In the final reckoning it hadn't quite given New Zealand enough to play with, but if they show the same spirit the one-day series could be a worthwhile contest.
Andrew McGlashan is a staff writer at Cricinfo
Saturday 24 November 2007
Kamal's hand written poem exclusively for you
Only a few actors are as gifted as Kamal Haasan. This multifaceted personality is known as an actor, a director, a producer, a screenplay writer, a dialogue writer, a singer and a dancer.Recently, at a function hosted to honor poet Puviyarasu, Kamal Haasan showed his literary aptitude as well by reciting one of his poems.
This, naturally, evoked tremendous applause from the audience present at the venue. For all the Kamal Haasan fans out there, here is the poem that turned this acting legend into a poet.
Ajith pronounces Billa’s release date
The stage is all set and the red carpet is rolled out for the release of the most expected remake of the year - Billa. Ajith, in the official press meet convened at the Green Park hotel today announced Billa’s release date. As per his announcement, Billa is slated to hit the theatres on December 14, 2007.That apart, Ajith also answered a few questions posed by the media present at the event.While answering for one such poser, he declared that Billa is not a remake of the Hindi Sharukh Khan starrer Don that was released earlier this year. He further clarified that Billa is purely based on the yesteryear blockbuster Billa starring the superstar Rajinikanth.An obvious absentee at the event was Shalini, who generally flanks Ajith during such press meets, as she is in the family way.
Shruti Haasan finally accedes!
When acting is in your genes, it is but eventual that it'll show one day or the other. Such is the case with most star kids and why would the kin of Tamil cinema's most celebrated actor ever fall behind. Shruti Haasan is the one, who is the latest from the bastion of star kids, to have acceded to relentless requests from the who's who of the fraternity.It was only recently that she had turned down a request from Venkat Prabhu, son of musician Gangai Amaran and director of this year’s super hit Chennai 600028, to star in his next project Ezhu.
She had been showing great interest in music and was seriously contemplating releasing a music album on her own. She had even crooned for Mallika Sherawat in her dad's magnum opus Dasavatharam. However, despite all this, the multi faceted youngster has finally acceded to the offer from actor Madhavan to act in his next project to be produced by Gnanam Films, the production house presently working on Karu. Pazhaniappan's Pirivom Santhippom. She will be starring opposite Madhavan in this untitled project to be directed by Nishikanth Kamath, director of Madhavan's soon-to-be released Evano Oruvan. Work on this film will start after the release of Evano Oruvan next month and it is tentatively scheduled to hit the floors in January '08. The makers are busy narrowing on an appropriate title for this movie. That Madhavan's a close friend of her dad Kamal Haasan is noteworthy. Guess no one can escape from being smitten by the acting bug.
She had been showing great interest in music and was seriously contemplating releasing a music album on her own. She had even crooned for Mallika Sherawat in her dad's magnum opus Dasavatharam. However, despite all this, the multi faceted youngster has finally acceded to the offer from actor Madhavan to act in his next project to be produced by Gnanam Films, the production house presently working on Karu. Pazhaniappan's Pirivom Santhippom. She will be starring opposite Madhavan in this untitled project to be directed by Nishikanth Kamath, director of Madhavan's soon-to-be released Evano Oruvan. Work on this film will start after the release of Evano Oruvan next month and it is tentatively scheduled to hit the floors in January '08. The makers are busy narrowing on an appropriate title for this movie. That Madhavan's a close friend of her dad Kamal Haasan is noteworthy. Guess no one can escape from being smitten by the acting bug.
Abhinav Mukund scores century on debut
A brilliant century by 19-year-old debutant Abhinav Mukund,who scored 108 runs,and an unbeaten 93 by skipper S Badrinath enabled Tamil Nadu score of 289 for 5 in the first innings on the first day of the Ranji Trophy match against Karnataka, at the M A Chidambaram stadium in Chennai on Friday.
Tamil Nadu, who went into the match under pressure -- with just one point from two matches, won the toss and put up a confident show with the bat as Mukund and Badri combined well.
Abhinav, the new talent discovered on the India Under-19 tour to Sri Lanka [Images] recently where he caught the attention of the talent spotters with a double ton and a ton in the same match, compiled his score in 266 minutes off 176 balls with the help of 13 fours before being run out.
With Badrinath, who is batting on 93 off 212 balls hitting seven fours and two sixes, Abhinav added 139 runs for the third wicket in 161 minutes.
Abhinav thus joined six other Tamil Nadu batsmen to score a century on debut in Ranji trophy.
Tamil Nadu, who went into the match under pressure -- with just one point from two matches, won the toss and put up a confident show with the bat as Mukund and Badri combined well.
Abhinav, the new talent discovered on the India Under-19 tour to Sri Lanka [Images] recently where he caught the attention of the talent spotters with a double ton and a ton in the same match, compiled his score in 266 minutes off 176 balls with the help of 13 fours before being run out.
With Badrinath, who is batting on 93 off 212 balls hitting seven fours and two sixes, Abhinav added 139 runs for the third wicket in 161 minutes.
Abhinav thus joined six other Tamil Nadu batsmen to score a century on debut in Ranji trophy.
Laxman answers critics with fine 50
He has played one of the best knocks in India's Test history, but every time VVS Laxman steps out to bat in a Test match it looks like he has to prove himself all over again.
- Laxman saves India the blushes
That knock of 281, which helped India register the epic win Australia despite following-on was six years back, but even today Laxman is capable of turning a match on it's head even though not with the same flair.
Before the start of the first Test against Pakistan, there were calls for Yuvraj Singh's [Images] inclusion at the expense of Laxman.
The claims were because of left-hander's form in one-dayers and Twenty20 and in your face all the time through hundreds of ad campaigns.
- Scorecard Images
Captain Anil Kumble knew how much experience counts in Tests and that a player of the status of Laxman cannot be just dumped in favour of someone, who is yet to make a mark in Tests. It was therefore befitting that it was Laxman who led India's rescue efforts with a fighting half-century in India's first innings on Friday.
Despite scoring 205 runs in three Tests in England [Images] at an average of more than 50, many questioned Laxman's inclusion for this Test and even Laxman himself was surprised.
"It is always when your captain has got faith in you. It is really surprising [that my place is being questioned] because I had a really good series in England where I averaged more than 50 and people still doubt my place," Laxman said after the second day's play.
"I really don't think about the things that I cannot control. I would like to play both forms of the game. I was very happy with the way I performed in England and I hope that the team recognises my performance in England.
"Apart from that I really don't take any pressure because some things are not in my control."
With India precariously placed at 93 for 5 after lunch on the second day, Laxman brought all his experience into play and in the company of the swashbuckling Mahendra Singh Dhoni [Images] rescued India with a 115-run partnership.
"The situation was definitely tense because we lost three quick wickets after lunch. So it was very important that we put up a partnership and I am very happy we did that," the 33-year-old.
Dhoni was out stumped off Danish Kaneria for 57, while Laxman is still holding out bravely on the same score.
The stylish Hyderabadi admitted that he relishes batting in such situations, adding that this would rank one of the important knocks in his career.
"I always feel I would like to play under such situations whenever the team requires. I always love such situations and I am happy that I have done well in this game.
"I was happy that me and Dhoni put up that partnership, it was very important at that stage of the game. It was one of the most important knocks of my career."
Laxman's last century came almost 17 months back in the West Indies [Images] and he would be keen to post another here and take India to a good first innings total.
"It is important to get as much lead as possible in the first innings and I think that will be crucial. As the match goes on the wicket will deteriorate and will definitely become low and slow so it will be very important that we take a good first innings lead," he said.
Laxman said that with the wicket deteriorating rapidly, it was important that India tries to get as much runs as possible in their first essay.
"The wicket is still low and slow so it is very important that we get off to a good start tomorrow morning. The first session will be very crucial and if we can take a good lead then we can put them under pressure. As of now, the match is equally poised and tomorrow's morning session will be very crucial.
"Definitely it will be a tough challenge [to bat in the fourth innings]."
Laxman also reserved special praise for Pakistan fast bowler Shoaib Akhtar [Images], who claimed two for 36 in a fiery spell of fast bowling.
"I think we lost quick wickets after lunch. It was good swing bowling because Shoaib, Sami and Tanvir really bowled well and I think all of them [wickets] were wicket-taking deliveries. It was unfortunate that Sachin got out in that fashion. Getting used to Tanvir's style was challenging, but I thought Shoaib bowled the best among them."
Laxman admitted that Dhoni's positive approach proved the key, but believes his wicket fell at the wrong time.
"It was good to see the way Dhoni played. He is a positive player and he has done the same even tomorrow and it was good that we put up a partnership. If he had been there at the end of the day then it would have put a lot of pressure on Pakistan tomorrow morning. His wicket fell at the wrong time."
It may not have been a Very Very Special knock from Laxman, but certainly it has proved to be a Very Very priceless knock for India.
And hopefully in the next match he bats with no sword hanging over his head.
Monday 12 November 2007
Blogger wave - The source of online money making
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Just update the jobs given in as seperate posts with the links given. bloggerwave will take care of the rest of your payments, when the posting is accepted by the client.
bloggerwave is working and true to say amazing way to earn online money.
All you need is a blog and some 1hr spare time per week. bloggerwave will provide you with minimum 30-40$ a month. Get ready join bloggerwave
Saturday 6 October 2007
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Monday 17 September 2007
Commercial realty booms in tier-III cities
The commercial real estate sector has been booming in the last few years, driven by the high demand from corporates, especially IT and ITeS companies.
However, with property prices skyrocketing in tier-I and tier-II cities, these companies are now looking at tier-III cities to set up their businesses.
"Wipro [Get Quote] and Infosys [Get Quote] set the trend by setting up facilities in Mysore and Kochi. Foreign companies are now moving into these cities as well, said Akshaya Kumar, CEO, Park Lane Property Advisors.
Broadly, Nagpur, Ahmedabad, Kochi, Indore, Coimbatore, Mysore and Lucknow come under the tier-III classification. Consider these numbers: the lease rates in Mumbai, in places such as Bandra-Kurla complex is around Rs 250 per sq ft whereas in the suburbs of Andheri, it is between Rs 55 and Rs 110. Compared to this, the lease rates in Nagpur are Rs 20 to 30 per sq. ft. "And the space available is larger too," said an industry observer.
A recent report by Jones Lang Lasalle Meghraj (JLLM Asia Pacific Property Digest - Q1 2007) confirms this. A large number of IT and ITeS companies such as Dell, Infosys, TCS [Get Quote], Wipro and Persistent Systems are moving into these cities in a big way. Said a Dell spokesperson, "Dell has gone to cities such as Chandigarh and Hyderabad, apart from Delhi and Bangalore because they had a potential to support a large-scale facility in terms of public infrastructure and access to manpower."
Besides the lower property prices, these cities also provide skilled labour. Kochi and Nagpur have a number of colleges and institutions imparting professional education. The literacy rates in these cities are as high as 94 per cent and 88 per cent respectively.
As a result, big builders are aggressively getting into these areas. Added Kumar, "DLF, Rahejas and Unitech are scouting for opportunities in these cities because the local builders may not be able to handle large scale projects." For instance, Parsvanath Developers are presently developing a residential project called Prideasia (in association with Chandigarh Housing Board), as an integral part of Rajiv Gandhi Chandigarh Technology Park worth $1 billion (Rs 4100 crore). It will have premium accommodation ranging from one to five bedroom air-conditioned apartments priced between Rs 52 lakh and Rs 3.8 crore.
Sources said Mantri Builders, which is present in Bangalore, Pune, Kolhapur and Sholapur, are planning a 40 lakh sq ft IT park-cum-residential complex in Nagpur. The project is going to be announced in the next two months. The company could not be contacted.
As Abhishek Gupta, Senior Research Manager, JLLM explained, "These cities are entailing business capacities ranging from 200 to 3000 seats, underlying the strategic role that these locations have come to play in the off-shoring of business processes." And that augurs well for the overall economy.
However, with property prices skyrocketing in tier-I and tier-II cities, these companies are now looking at tier-III cities to set up their businesses.
"Wipro [Get Quote] and Infosys [Get Quote] set the trend by setting up facilities in Mysore and Kochi. Foreign companies are now moving into these cities as well, said Akshaya Kumar, CEO, Park Lane Property Advisors.
Broadly, Nagpur, Ahmedabad, Kochi, Indore, Coimbatore, Mysore and Lucknow come under the tier-III classification. Consider these numbers: the lease rates in Mumbai, in places such as Bandra-Kurla complex is around Rs 250 per sq ft whereas in the suburbs of Andheri, it is between Rs 55 and Rs 110. Compared to this, the lease rates in Nagpur are Rs 20 to 30 per sq. ft. "And the space available is larger too," said an industry observer.
A recent report by Jones Lang Lasalle Meghraj (JLLM Asia Pacific Property Digest - Q1 2007) confirms this. A large number of IT and ITeS companies such as Dell, Infosys, TCS [Get Quote], Wipro and Persistent Systems are moving into these cities in a big way. Said a Dell spokesperson, "Dell has gone to cities such as Chandigarh and Hyderabad, apart from Delhi and Bangalore because they had a potential to support a large-scale facility in terms of public infrastructure and access to manpower."
Besides the lower property prices, these cities also provide skilled labour. Kochi and Nagpur have a number of colleges and institutions imparting professional education. The literacy rates in these cities are as high as 94 per cent and 88 per cent respectively.
As a result, big builders are aggressively getting into these areas. Added Kumar, "DLF, Rahejas and Unitech are scouting for opportunities in these cities because the local builders may not be able to handle large scale projects." For instance, Parsvanath Developers are presently developing a residential project called Prideasia (in association with Chandigarh Housing Board), as an integral part of Rajiv Gandhi Chandigarh Technology Park worth $1 billion (Rs 4100 crore). It will have premium accommodation ranging from one to five bedroom air-conditioned apartments priced between Rs 52 lakh and Rs 3.8 crore.
Sources said Mantri Builders, which is present in Bangalore, Pune, Kolhapur and Sholapur, are planning a 40 lakh sq ft IT park-cum-residential complex in Nagpur. The project is going to be announced in the next two months. The company could not be contacted.
As Abhishek Gupta, Senior Research Manager, JLLM explained, "These cities are entailing business capacities ranging from 200 to 3000 seats, underlying the strategic role that these locations have come to play in the off-shoring of business processes." And that augurs well for the overall economy.
Now, book tickets, hotels on EMIs
Online travel agency, Cleartrip, has joined hands with the Kishore Biyani promoted Future Money, a non-banking finance company, to provide finance on an equated monthly instalment (EMIs) basis to people wanting to buy its travel products.
The facility will be available at four of Future Group's Big Bazaar outlets in Mumbai. Cleartrip will soon extend this tie-up to other Big Bazaar outlets in the city as well as other metros.
According to the portal, this facility can be used to pay for all Cleartrip's offerings, such as air tickets, hotel bookings and tour packages.
"With this move, we plan to make travel products affordable to the masses. People who otherwise could not think of going on a holiday, can now do so. The idea is to bring down a Rs 8,000 holiday to Rs 200 a month for travellers," said Sandeep Murthy, CEO, Cleartrip.
Representatives of Cleartrip are already present at four Big Bazaar outlets in Mumbai, following a tie-up with the Future Group in July. They will now be assisted by Future Money sales executives.
These executives will guide the customers with the paperwork for the EMIs. Finance will be provided to the customers as soon as the required verifications are complete. The tickets will be handed over to the customers immediately.
According to Murthy, the facility will be available for a transaction above Rs 6,000. The upper limit would exceed the Rs 50,000 mark. The credit risk will be borne entirely by Future Money. However, the revenue sharing agreement between the two companies has not been revealed.
The travel portal is also considering liasing with Pantaloons, the other retail arm of the Future Group.
Murthy said, "By joining hands with the Future Group, we have access to its country-wide network of 57 Big Bazaar outlets, seven malls and 31 Pantaloon [Get Quote] Stores. This improves our visibility and makes much more business sense than investing in real estate and setting up offices all around the country."
The travel industry in India is pegged at $20 billion, while online travel is a $2 billion industry. Travel portals, which currently have a seven per cent share of the total travel bookings market, are expected to raise it to 28 per cent in a year, according to Murthy.
The facility will be available at four of Future Group's Big Bazaar outlets in Mumbai. Cleartrip will soon extend this tie-up to other Big Bazaar outlets in the city as well as other metros.
According to the portal, this facility can be used to pay for all Cleartrip's offerings, such as air tickets, hotel bookings and tour packages.
"With this move, we plan to make travel products affordable to the masses. People who otherwise could not think of going on a holiday, can now do so. The idea is to bring down a Rs 8,000 holiday to Rs 200 a month for travellers," said Sandeep Murthy, CEO, Cleartrip.
Representatives of Cleartrip are already present at four Big Bazaar outlets in Mumbai, following a tie-up with the Future Group in July. They will now be assisted by Future Money sales executives.
These executives will guide the customers with the paperwork for the EMIs. Finance will be provided to the customers as soon as the required verifications are complete. The tickets will be handed over to the customers immediately.
According to Murthy, the facility will be available for a transaction above Rs 6,000. The upper limit would exceed the Rs 50,000 mark. The credit risk will be borne entirely by Future Money. However, the revenue sharing agreement between the two companies has not been revealed.
The travel portal is also considering liasing with Pantaloons, the other retail arm of the Future Group.
Murthy said, "By joining hands with the Future Group, we have access to its country-wide network of 57 Big Bazaar outlets, seven malls and 31 Pantaloon [Get Quote] Stores. This improves our visibility and makes much more business sense than investing in real estate and setting up offices all around the country."
The travel industry in India is pegged at $20 billion, while online travel is a $2 billion industry. Travel portals, which currently have a seven per cent share of the total travel bookings market, are expected to raise it to 28 per cent in a year, according to Murthy.
'Economy may be slowing down'
Slowdown could soon be the new buzzword in industrial circles. For the fourth month in a row the growth in the Index of Industrial Production has seen a decelerating trend. The July number, which has come in at just 7.1 per cent y-o-y, compared with the revised 9 per cent y-o-y for June, has been a bit of a shocker.
With banks lending less -- loan growth has tapered off from 27.6 per cent at the end of March to about 23.1 per cent -- and interest rates refusing to come off, there may just be a change of pace. Economic Advisor to the Tata Group Siddhartha Roy tells Business Standard the economy may be slowing down.
What do you make of the IIP numbers for July?
There appears to be a bit of a slowdown. If you look at the numbers for May, there are a couple of aberrations in the number because wood and wood products have grown at 118 per cent y-o-y, while food products have grown at 23.7 per cent.
Taken together and weighted, these two account for 5.4 per cent of the 10.9 per cent number that was achieved in that month. In June too, there have been similar aberrations and now in July some of these have got smoothened and the growth rate has been just 7.1 per cent.
How much have exports hurt the IIP?
The rupee's appreciation against the dollar has been higher than the appreciation of the currencies of competing countries, with the exception of the Thai baht. So our exports have become uncompetitive. I feel if a strong rupee is constraining growth, it needs to be reviewed.
To what extent are high interest rates responsible for the slowdown?
Interest rates don't seem to be coming down even though liquidity is not tight. That has pushed up EMIs and hurt affordability. It's clear from the negative growth of consumer durables and transport and transport equipment too have seen a degrowth. I feel finance companies will need to start innovating to get customers to buy; they might have to allow customers an interest rate holiday for the initial period of the loan, for instance.
The demand for cars hasn't been too bad?
That's true but you have to remember that demand is driven by both macroeconomic factors as also market developments. Car sales have been good driven by new models and a section of people wanting to upgrade. But this might be temporary, in the long run the macro factors will rule.
Do you see capex slowing down?
No, I haven't but it won't happen immediately because the projects that are under way will be completed. That's why order books of capital goods companies are still strong. What could happen is that if someone was contemplating a new project, he will think twice before he invests in fresh capacity.
Is the RBI hurting growth in its attempt to curb inflation?
RBI has done well to keep inflation in check. You must remember that oil is now at $74 a barrel and if this increase is passed on at the retail level, inflation will go up again. Otherwise the government will have to bear the cost. It's true that high interest rates may be hurting growth but controlling inflation too is important.
Where do you see GDP in FY08?
My assessment would be somewhere between 8.5-9 per cent. I believe services which account for 54 per cent will grow at 10-11 per cent and agriculture with a weightage of 19 per cent will grow at between 3-3.5 per cent. Industry should grow at 9 per cent.
With banks lending less -- loan growth has tapered off from 27.6 per cent at the end of March to about 23.1 per cent -- and interest rates refusing to come off, there may just be a change of pace. Economic Advisor to the Tata Group Siddhartha Roy tells Business Standard the economy may be slowing down.
What do you make of the IIP numbers for July?
There appears to be a bit of a slowdown. If you look at the numbers for May, there are a couple of aberrations in the number because wood and wood products have grown at 118 per cent y-o-y, while food products have grown at 23.7 per cent.
Taken together and weighted, these two account for 5.4 per cent of the 10.9 per cent number that was achieved in that month. In June too, there have been similar aberrations and now in July some of these have got smoothened and the growth rate has been just 7.1 per cent.
How much have exports hurt the IIP?
The rupee's appreciation against the dollar has been higher than the appreciation of the currencies of competing countries, with the exception of the Thai baht. So our exports have become uncompetitive. I feel if a strong rupee is constraining growth, it needs to be reviewed.
To what extent are high interest rates responsible for the slowdown?
Interest rates don't seem to be coming down even though liquidity is not tight. That has pushed up EMIs and hurt affordability. It's clear from the negative growth of consumer durables and transport and transport equipment too have seen a degrowth. I feel finance companies will need to start innovating to get customers to buy; they might have to allow customers an interest rate holiday for the initial period of the loan, for instance.
The demand for cars hasn't been too bad?
That's true but you have to remember that demand is driven by both macroeconomic factors as also market developments. Car sales have been good driven by new models and a section of people wanting to upgrade. But this might be temporary, in the long run the macro factors will rule.
Do you see capex slowing down?
No, I haven't but it won't happen immediately because the projects that are under way will be completed. That's why order books of capital goods companies are still strong. What could happen is that if someone was contemplating a new project, he will think twice before he invests in fresh capacity.
Is the RBI hurting growth in its attempt to curb inflation?
RBI has done well to keep inflation in check. You must remember that oil is now at $74 a barrel and if this increase is passed on at the retail level, inflation will go up again. Otherwise the government will have to bear the cost. It's true that high interest rates may be hurting growth but controlling inflation too is important.
Where do you see GDP in FY08?
My assessment would be somewhere between 8.5-9 per cent. I believe services which account for 54 per cent will grow at 10-11 per cent and agriculture with a weightage of 19 per cent will grow at between 3-3.5 per cent. Industry should grow at 9 per cent.
Musharraf is the most unpopular, hated man in Pak: Top Pak lawyer
Criticising the West for supporting "tottering, slipping" Pakistan President Pervez Musharraf [Images], the lawyer who successfully defended Chief Justice Iftikhar Chaurdhry has warned that a turmoil will break out the moment the General files his nomination for the forthcoming election.
Describing Musharraf as the "most unpopular, indeed hated man in Pakistan," Aitzaz Ahsan said the movement would be on the lines of one that supported the chief justice, and asked the West to embrace it rather than being "enamoured" with the president.
Ahsan, a stalwart in Benazir Bhutto's [Images] Pakistan People's Party, claimed that the deportation of former prime minister Nawaz Sharif will make the negotiations between Bhutto and the General, who is seeking a second presidential term, difficult.
"One of her (Bhutto's) conditions has always been that there must be a free and fair election with the return of all the exiles, including Nawaz Sharif. Is Musharraf prepared to let Sharif come back? If not, then one of her major conditions is not being met. So what happens to the negotiations?" he said.
The deportation of Sharif, he said, showed that Musharraf has run out of political options.
"He committed a crime under Pakistani law by abducting a man and moving him from point A to B against his will. Musharraf's act was not simply a matter of contempt of the Supreme Court's ruling. This is a criminal act punishable by a ten year jail term," he added.
Ahsan, a former interior minister under Benazir Bhutto, had engineered the popular campaign in support of Chaudhry. The campaign eventually developed into an anti-Musharraf movement.
"Sharif's party will press criminal charges against Musharraf at a local police station any day now," he said. Ahsan added that the matter was no longer in the hands of the Supreme Court.
"The matter has now gone into the public domain. People will react. And what will the government do if Nawaz Sharif's wife gets onto a plane and heads for Pakistan? And if his son and daughter come the following week? Will the government keep doing the same thing?" he asked.
"This (deportation) could not have been done without Musharraf's complicity, just as the chief justice could not have been arrested (last March) without Musharraf having ordered it. This case will chase him even in his days of exile outside Pakistan, and the Americans better know it," he said, adding that Musharraf would not be in power for much longer.
"He is not as effective and all-powerful as he used to be. Remember, Pakistan is not Saudi Arabia, Kuwait, Jordan, Syria, Morocco, Libya or Egypt. It is a South Asian
Muslim country where due process of law and an electoral mandate are crucial to the legitimacy of government," Asraf added.
Describing Musharraf as the "most unpopular, indeed hated man in Pakistan," Aitzaz Ahsan said the movement would be on the lines of one that supported the chief justice, and asked the West to embrace it rather than being "enamoured" with the president.
Ahsan, a stalwart in Benazir Bhutto's [Images] Pakistan People's Party, claimed that the deportation of former prime minister Nawaz Sharif will make the negotiations between Bhutto and the General, who is seeking a second presidential term, difficult.
"One of her (Bhutto's) conditions has always been that there must be a free and fair election with the return of all the exiles, including Nawaz Sharif. Is Musharraf prepared to let Sharif come back? If not, then one of her major conditions is not being met. So what happens to the negotiations?" he said.
The deportation of Sharif, he said, showed that Musharraf has run out of political options.
"He committed a crime under Pakistani law by abducting a man and moving him from point A to B against his will. Musharraf's act was not simply a matter of contempt of the Supreme Court's ruling. This is a criminal act punishable by a ten year jail term," he added.
Ahsan, a former interior minister under Benazir Bhutto, had engineered the popular campaign in support of Chaudhry. The campaign eventually developed into an anti-Musharraf movement.
"Sharif's party will press criminal charges against Musharraf at a local police station any day now," he said. Ahsan added that the matter was no longer in the hands of the Supreme Court.
"The matter has now gone into the public domain. People will react. And what will the government do if Nawaz Sharif's wife gets onto a plane and heads for Pakistan? And if his son and daughter come the following week? Will the government keep doing the same thing?" he asked.
"This (deportation) could not have been done without Musharraf's complicity, just as the chief justice could not have been arrested (last March) without Musharraf having ordered it. This case will chase him even in his days of exile outside Pakistan, and the Americans better know it," he said, adding that Musharraf would not be in power for much longer.
"He is not as effective and all-powerful as he used to be. Remember, Pakistan is not Saudi Arabia, Kuwait, Jordan, Syria, Morocco, Libya or Egypt. It is a South Asian
Muslim country where due process of law and an electoral mandate are crucial to the legitimacy of government," Asraf added.
Wednesday 29 August 2007
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Friday 3 August 2007
Rlys to provide laptops to all officers
The Railway ministry has decided to provide laptops to all its officers in order to promote IT culture and reduce paper work.
"The laptops have already been given to senior officers at joint secretary level. Now, it has been decided to provide it to all our officers at director level and above," said a senior ministry official.
The ministry would spend about Rs 930 crore (Rs 9.30 billion) in the current fiscal year in information technology-related activities out of Rs 31,000 crore (Rs 310 billion) budget. The Planning Commission has suggested spending about three per cent of its budget on IT projects.
Currently, only 2,000 senior officials have been given laptops while there are about 14,000 officers in the railways.
"Laptops would be provided in phases as we are in the process of finalising the procurement process," said the official.
We order on track alignment and repairing the wagons, instant decision can be taken through the net. One can also access the data instantly without waiting for the report to be placed before him or her and so by providing laptops, the time gap in taking decisions would be reduced, he said.
It is not only officials but even the supervisors are to be equipped with laptops in the next phase as per the ministry's e-governance plan.
"Those supervisors who are involved in field duties are being considered for laptops," added the official.
There will be training course for officers and supervisors to make them Net-savvy.
Recently, the Railway ministry made it mandatory for all its DRMs (Divisional railway manager) and GMs (general managers) to go for training at reputed business schools.
While DRMs would go to HEC Paris, GMs would be sent to Stern Business School at New York for two weeks.
"The laptops have already been given to senior officers at joint secretary level. Now, it has been decided to provide it to all our officers at director level and above," said a senior ministry official.
The ministry would spend about Rs 930 crore (Rs 9.30 billion) in the current fiscal year in information technology-related activities out of Rs 31,000 crore (Rs 310 billion) budget. The Planning Commission has suggested spending about three per cent of its budget on IT projects.
Currently, only 2,000 senior officials have been given laptops while there are about 14,000 officers in the railways.
"Laptops would be provided in phases as we are in the process of finalising the procurement process," said the official.
We order on track alignment and repairing the wagons, instant decision can be taken through the net. One can also access the data instantly without waiting for the report to be placed before him or her and so by providing laptops, the time gap in taking decisions would be reduced, he said.
It is not only officials but even the supervisors are to be equipped with laptops in the next phase as per the ministry's e-governance plan.
"Those supervisors who are involved in field duties are being considered for laptops," added the official.
There will be training course for officers and supervisors to make them Net-savvy.
Recently, the Railway ministry made it mandatory for all its DRMs (Divisional railway manager) and GMs (general managers) to go for training at reputed business schools.
While DRMs would go to HEC Paris, GMs would be sent to Stern Business School at New York for two weeks.
Man United sign 9-year-old wonder kid
Manchester United have signed a gifted nine-year-old after his grandfather sent the Premier League champions a DVD showcasing the boy's talents which has become a YouTube sensation.
Rhain Davis, who was born in England [Images] but has lived in Australia since the age of four, was hailed by the British press on Thursday as the next Wayne Rooney [Images] after the United striker.
The boy's dribbling and goalscoring prowess for an Under-10 side in Brisbane, Australia, feature in a four-minute YouTube clip, already viewed more than 800,000 times.
United confirmed the signing but played down the hype around Davis, who has moved back to Cheshire in northern England with his father, near the club's training ground.
"He's a member of our academy and we don't comment on individual members," a United spokesman told Reuters.
He added that the club sign about 40 players of Davis's age every year and, as is standard, will decide annually whether to renew his contract or release him.
What was so unusual in Davis's case was that his skills were brought to the attention of United's youth scouts by the DVD submission, which could inspire other hopefuls, the spokesman said.
"We're bracing ourselves for a whole series of DVDs," he added.
Davis has been thrilled at the chance to rub shoulders with some of his idols.
"The best part has been meeting lots of players like Wayne Rooney," he told British newspapers.
Rhain Davis, who was born in England [Images] but has lived in Australia since the age of four, was hailed by the British press on Thursday as the next Wayne Rooney [Images] after the United striker.
The boy's dribbling and goalscoring prowess for an Under-10 side in Brisbane, Australia, feature in a four-minute YouTube clip, already viewed more than 800,000 times.
United confirmed the signing but played down the hype around Davis, who has moved back to Cheshire in northern England with his father, near the club's training ground.
"He's a member of our academy and we don't comment on individual members," a United spokesman told Reuters.
He added that the club sign about 40 players of Davis's age every year and, as is standard, will decide annually whether to renew his contract or release him.
What was so unusual in Davis's case was that his skills were brought to the attention of United's youth scouts by the DVD submission, which could inspire other hopefuls, the spokesman said.
"We're bracing ourselves for a whole series of DVDs," he added.
Davis has been thrilled at the chance to rub shoulders with some of his idols.
"The best part has been meeting lots of players like Wayne Rooney," he told British newspapers.
Monday 23 July 2007
Kireedam - Ajith's Crown
The verdict is out; Ajith is at his best in Kreedom. He looks young, fresh energetic and performs from his heart which may steal many a hearts. All the hard work shows on screen and the mood is upbeat in Ajith’s camp. Like the proverbial phoenix rising from the ashes, Ajith has risen from a furrow that fate, destiny or plain bad luck and choice of films got his career into.
This is an appreciation not only of Ajith but also a sincere acknowledgement of the unwavering support of all his fans, the people who never doubted the ability of their favorite star. The reviews are positive; everyone who saw the movie has liked it; there is everything that goes towards the making of the film into a hit. But fortunes at the box office are fickle, so let us not make any premature celebrations that Kreedom is a huge hit. Those celebrations can be held later. For the moment the fact that everyone can revel in is that one of the most promising youth of Tamil cinema has proved all his critics wrong. Varalaaru was a big hit, but Kreedom is even more special because it is the remake of a movie that was and is still Varalaaru (read part of history). This is something about the original Kireedam that was released in 1989 in Malayalam that will give you an idea of what Ajith and the rest of the Kreedom team have pulled off.
When Kireedam was released 18 years back, it was almost instantly proclaimed as a classic film and deservingly so. Mohanlal in the lead role had just given the finest performance that Indian cinema had seen in years and the brilliance just could not be overlooked, it shone so bright. It was at a time when the National Film awards were being announced and unfortunately Kireedam had been released at a date too late to be considered for the awards that year and incidentally Bharath award that year went to Mammooty for his performance in Oru Vadakkan Veeragatha. But Kireedam could just not be allowed to pass by unrecognized and it was one of the very few occasions in the history of Indian cinema that a President’s special medal was given away to an actor. It was nothing less than the national.
Why then, you could ask, was the movie not remade for nearly 18 years? It is not that no one thought about remaking it. It was just that many people considered it and went back realizing the level of mastery that the actor in the lead role had to possess to carry off the role. Also it might not be wrong to say that the movie has been remade many times in bits and pieces. Anyone who has seen the original can notice many scenes of Kireedam being replicated in many movies. This is a fact that has been acknowledged by Chiyan Vikram who once in an interview to a Malayalam channel said that a Kireedam remake would be dream come true for him. What more, the Kireedam level of perfection has not been bettered by Mohanlal himself. It remains to date (in spite of two other national awards) his best performance.
It is this dream of many people that Ajith with director Vijay and Rajkiran has accomplished and that too in a manner that will not make the minds behind the original version feel let down. Yes, there are changes in the script to suit the changed times and the Tamil audience and the duet that was not there in the original, but the soul has been retained and the entire team of Kreedom must be congratulated for not swaying to too many commercial compulsions. They have stuck to their guns and the results can be seen.
What Kireedam did to Mohanlal? It placed him on par with the best in the country. He was no longer just another actor, he was an actor of caliber, of repute, of stature. It started his growth from being just a star to a superstar who can be depended upon to carry out tough roles. It was after Kireedam that Mohanlal really began to get some wonderful roles, both commercial and offbeat ones and now Ajith has opened those doors for himself. There was never any doubt that he can act well, but how well, no one knew. He has delivered good performances in Vaali and more recently Varalaaru, but Kreedom because of the sheer precedent that had to be emulated, should be the best of them all. That is why no one has minced any words in proclaiming Kreedom as Ajith’s best ever performance
Now, Ajith has to tread carefully to keep the standards that he has set for himself in Kreedom because he can be sure of one thing. We are not going to settle for anything less. Kreedom may just be Ajith’s crown.
Thursday 19 July 2007
'Kalam wants to move into his old room'
On July 16 at 9 pm, the Vice Chancellor of Anna University Dr D Viswanathan was pleasantly surprised to get a call from New Delhi. It was from the President of India, Dr A P J Abdul Kalam.
Kalam had called to inform the VC that he would be back to where he was when he left for the Rashtrapathi Bhavan, that is, he would be back to Anna University on July 25 when his term as the President of India ended.
Dr Viswanthan had earlier invited the President to Anna University twice when he met him but Kalam then "...did not say anything.
"He said he would inform me later. I am thrilled and surprised to get a call from him," said Dr Viswanathan.
Before Dr Kalam left for the presidential palace in New Delhi, he lived in a one-room guest house at Anna University, teaching students and guiding research scholars.
"He told me he would be in Chennai on the July 25 and wanted to continue teaching at the University. But he would decide what he wanted to teach upon his arrival," the VC said.
The President also told the VC that he preferred to stay in the room at the University guest house where he used to stay earlier. "We offered him an independent bungalow or some other big house, but he insisted that he would stay only in the same room. He also told me that he would like to have the same office as before."
The VC also said that the PhD students who were working under him, such as Father A.K.George would continue their research under him.
With a former President staying inside the Anna University campus, security has to be tight but Dr Viswanathan is hopeful that they would be able to manage the directions of the government.
"I am sure we will be able to provide adequate security to him. He may go for his morning walks like he used to in the past."
The vice chancellor has plans to provide him all the facilities so that students from all over India can get in touch with Dr Kalam. "It will save him a lot of time travelling to interact with children. He can do that from Anna University."Though the vice chancellor wants a grand welcome for the President, there will only be a simple welcome as the President has specifically asked the VC not to have any grand functions. "So, in a very simple way, we will express our happiness for his choosing to stay in our campus."
Kalam had called to inform the VC that he would be back to where he was when he left for the Rashtrapathi Bhavan, that is, he would be back to Anna University on July 25 when his term as the President of India ended.
Dr Viswanthan had earlier invited the President to Anna University twice when he met him but Kalam then "...did not say anything.
"He said he would inform me later. I am thrilled and surprised to get a call from him," said Dr Viswanathan.
Before Dr Kalam left for the presidential palace in New Delhi, he lived in a one-room guest house at Anna University, teaching students and guiding research scholars.
"He told me he would be in Chennai on the July 25 and wanted to continue teaching at the University. But he would decide what he wanted to teach upon his arrival," the VC said.
The President also told the VC that he preferred to stay in the room at the University guest house where he used to stay earlier. "We offered him an independent bungalow or some other big house, but he insisted that he would stay only in the same room. He also told me that he would like to have the same office as before."
The VC also said that the PhD students who were working under him, such as Father A.K.George would continue their research under him.
With a former President staying inside the Anna University campus, security has to be tight but Dr Viswanathan is hopeful that they would be able to manage the directions of the government.
"I am sure we will be able to provide adequate security to him. He may go for his morning walks like he used to in the past."
The vice chancellor has plans to provide him all the facilities so that students from all over India can get in touch with Dr Kalam. "It will save him a lot of time travelling to interact with children. He can do that from Anna University."Though the vice chancellor wants a grand welcome for the President, there will only be a simple welcome as the President has specifically asked the VC not to have any grand functions. "So, in a very simple way, we will express our happiness for his choosing to stay in our campus."
Tuesday 17 July 2007
Zimbabwe drop out of Test rankings list
Zimbabwe, who have been out of Test cricket since January 2006, have dropped out of the International Cricket Council's Test rankings list.
Zimbabwe do not figure in the ICC's [Images] annual list released on Monday because they have played two Tests fewer than the minimum of 10 required for inclusion in the table involving only series completed after August 1, 2004.
"One result of the update is that Zimbabwe has dropped off the main table as it has only played eight Tests since that date," an ICC statement said.
"The update is always scheduled to take place on August 1 each year but as no series are set to finish ahead of that date, it can be carried out now."
World champions Australia stretched their lead to 26 rating points with England [Images] placed second on the list, which is now down to nine teams.
Sri Lanka [Images] and South Africa have jumped two spots to third and fourth respectively, ahead of India and Pakistan.
The Zimbabwe government withdrew the national team from test cricket early last year and the ICC decided several weeks ago that they were not ready to return to the test fold.
They continue to play one-day internationals but have been a depleted side since April 2004, when most senior players retired or opted to further their careers in other countries after a dispute with the board that followed Heath Streak's dismissal as captain
Zimbabwe do not figure in the ICC's [Images] annual list released on Monday because they have played two Tests fewer than the minimum of 10 required for inclusion in the table involving only series completed after August 1, 2004.
"One result of the update is that Zimbabwe has dropped off the main table as it has only played eight Tests since that date," an ICC statement said.
"The update is always scheduled to take place on August 1 each year but as no series are set to finish ahead of that date, it can be carried out now."
World champions Australia stretched their lead to 26 rating points with England [Images] placed second on the list, which is now down to nine teams.
Sri Lanka [Images] and South Africa have jumped two spots to third and fourth respectively, ahead of India and Pakistan.
The Zimbabwe government withdrew the national team from test cricket early last year and the ICC decided several weeks ago that they were not ready to return to the test fold.
They continue to play one-day internationals but have been a depleted side since April 2004, when most senior players retired or opted to further their careers in other countries after a dispute with the board that followed Heath Streak's dismissal as captain
With a poor Test record in England, history is against India
The Indian cricket team is on its 15th Test tour of England [Images]. It may be interesting to go down memory lane and find out how our players have fared in the heavyweight division of cricket in Old Blighty. Sorry to say, they haven't done well, except on a few occasions.
To be precise, of the 45 Tests India has played in England between 1932 and 2002, the hosts won as many as 23. India won only four.
India's tour of England, 1932:
It all began with India's maiden Test appearance at Lord's in 1932 under C K Nayudu.. Besides Nayudu, we had only two other world-class players -- Mohammed Nissar and Amar Singh. But for this triumvirate, India would have lost by a staggering margin than it eventually did -- by 158 runs.
Nissar (5 for 93) bowled his heart out and restricted England to 259 in the first innings. He bowled the prolific and dangerous openers, Percy Holmes and Herbert Sutcliffe, who had put on 555 runs in their previous first-class match, with just 11 runs on the board. When the score was 19, the great Frank Woolley was run out.
But captain Douglas Jardine (79), wicketkeeper Leslie Ames (65) and Wally Hammond (35), who was bowled by Amar Singh, rescued England. Amar Singh took 2 for 75.
Nayudu, who dismissed Jardine and Eddie Paynter, and then chipped in with a breezy 40, was the top scorer in India's first innings of 189.
Enjoying a vital 70-run lead, Jardine declared England's second innings at 275 for 8 when he was close enough to completing what would have been a brilliant century of his. He (85 not out) was ably supported by Paynter (54). Jahangir Khan (better known as Majid Khan's father) claimed 4 for 60 and Amar Singh 2 for 84.
Chasing a 345-run target, the visitors were sent packing for 187 with Amar Singh scoring India's first ever half-century (51) batting at No 10.
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1936
India had a golden opportunity to win the first Test at Lord's on the 1936 tour but, as usual, the batsmen let the team down. After India was bowled out for 147 in the first innings, Amar Singh and Nissar paraded their awesome talents in front of the cognoscenti, including Neville Cardus, who had assembled at the hallowed Lord's.
The two ripped apart England's much-hyped batting line-up and gave India a crucial lead of 13 runs. Amar Singh bagged 6 for 35 and Nissar 3 for 36 as England made only 134. Only Maurice Leyland offered some resistance and made 60.
But India's batsmen, including Vijay Merchant, Mushtaq Ali and Nayudu came a cropper against speedster Gubby Allen (5 for 43) and spinner Hedley Verity (4 for 17) and were dismissed for a meager 93. Needless to say, England romped home with ridiculous ease -- by 9 wickets, to be exact.
However, Merchant (114) and Mushtaq (112) more than made up for their Lord's failure and helped India save the second Test at Old Trafford. They put on 203 for the first wicket in India's second innings. Mushtaq became India's first ever Test centurion abroad.
But India lost the third and final Test at The Oval by 9 wickets and with it the series, too, by 2-0.
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1946
Though England won the first Test at Lord's by 10 wickets, India managed to draw the second and third at Old Trafford and The Oval respectively in 1946 under Iftiqar Ali Khan Pataudi.
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1952
On the 1952 tour, Vijay Hazare's team lost the first three Tests and saved the fourth and final at The Oval, simply because there was no play on the third and fifth day because of rain. Otherwise Indian players had made all preparation to gift yet another Test to the hosts after getting all out for 98 in reply to England's 326 for 6 declared! So much so, we had lost 5 wickets for 6 runs at one stage.
This was the very series in which Freddie Trueman and Alec Bedser had the measures of most Indian batsmen.
Though Vijay Manjrekar scored a fine 133 in the first Test at Headingley, we lost by 7 wickets.
Vinoo Mankad's heroic all-round show (two innings of 72 and 184 as an opener and, as if that were not enough, marathon spells of 73-24-196-5 and 24-12-35-0) also could not help India save the second at Lord's, which England won by 8 wickets.
In the third Test at Old Trafford, we were reeling at 17 for 5 after England declared its only innings at 347 for 9. The entire eleven was eventually shot out for 58 with Trueman taking 8 for 31. Following on, India fared a bit better and scored 82 with Bedser claiming 5 for 27. England won by an innings and 207 runs.
Polly Umrigar, in particular, had a horrendous series. Trueman and Bedser had literally relegated this giant to a pigmy. Just look at Umrigar's scores in the four Tests � 8, 9, 5, 14, 4, 3, 0.
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1959
But England did succeed in winning all the five Tests in 1959 as the Dattaji Gekwad-led Indian side did not appear to make even an effort to avoid humiliation. The hosts won the first Test at Trent Bridge by an innings and 59 runs, second at Lord's by 8 wickets, third at Headingley by an innings and 173 runs, fourth at Old Trafford by 171 runs and fifth at The Oval by an innings and 27 runs.
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1967
Never one to learn lessons from the past, India did an encore on the 1967 tour and lost all the three Tests. Even Mansur Ali Khan "Tiger" Pataudi's courageous batting (64 and 148) astute leadership could not change India's fortunes as we lost the first Test at Headingley by 6 wickets.
This was the very Test in which Geoffery Boycott essayed his infamous 246 not out in England's first innings total of 550 for 4 declared. Infamous because the master technician batted unpardonably slowly, as if it were a timeless Test, and bored the spectators to death. The selectors punished him by dropping him from the second Test at Lord's, which England won by an innings and 124 runs.
With nothing to lose, including pride, which had already been lost, India fielded the famed spin quartet -- Erapalli Prasanna, Bhagwat Chandrasekhar, Bishen Singh Bedi and S Venkataraghavan -- together for the first and only time in the third and last Test at Edgbaston.
Though they bowled very well, took 18 wickets amongst themselves and restricted England to 298 and 203 in the two innings, their batting colleagues did not lend them any support. India mustered merely 98 and 277 in the two essays and England won by 132 runs.
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1971
Probably the first time India went to England with full confidence and a set of players capable of playing as a team and winning matches consistently was in 1971 under Ajit Wadekar. Wadekar's team had already beaten the West Indies [Images] in the Caribbean the same year and the expectations were obviously very high. On the other hand, Ray Illingworth and company had just won the Ashes in Australia and they, too, were on cloud nine and feeling as if they were world champs.
The first Test at Lord's ended in an exciting draw. When rain forced the umpires to abandon the game, India required 38 runs to win with 2 wickets in hand. But then England, too, could have won as only Bedi and Chandrasekhar were left to accompany Eknath Solkar, who was then batting on 6. After Bedi, Chandrasekhar and Venkataraghavan restricted England to 304 in the first innings, Wadekar (85), Gundappa Viswanath (68) and Solkar (67) helped India gain a slender but moral-boosting 9-run lead.
The Unbelievable Upset!
In all probability, India might have lost the second Test at Old Trafford but for rain. England set India a target of 457 in the fourth innings and the visitors were 65 for 3 at the draw of stumps on the fourth day with Viswanath and Dilip Sardesai at the crease. But no play was possible on the final day.
It was, of course, in the third Test at The Oval where India made history, winning by 4 wickets. Not only did India register its first ever Test triumph in England but also its maiden series win there. The chief architect was Chandrasekhar, whose 6 for 38 bowled England out for 101 in the second innings and paved the way for India's famous victory.
Besides Chandrasekhar's match-winning spell, useful contributions with the bat by Sardesai, Wadekar, Viswanath, Farokh Engineer and Solkar could not be ignored. Above all, it was Solkar's breathtaking fielding at the forward short-leg that gave a new confidence to the Indian bowlers and brought the English batsmen under tremendous psychological pressure.
The jubilant Indian cricketers went on to defeat England 2-1 at home in the next Test series, making it three series wins in a row for Wadekar. However, as the subsequent events proved, the success turned out to be as transient as it was dazzling.
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1974
Wadekar's squad lost all the Tests of the 1974 series in England -- first by 113 runs at Old Trafford despite Sunil Gavaskar [Images] (101 and 58) and Viswanath (40 and 50) batting superbly under trying circumstances and against heavy odds, second by an innings and 285 runs at Lord's and the third by an innings and 78 runs at Edgbaston.
At Lord's, India was dismissed for 42 (yes forty-two) in the second innings. The humiliation was such that the Fleet Street began to describe India's '74 tour as "the summer of 42". Back home, effigies of Indian cricketers were burnt and Wadekar's house was heavily stoned after India lost the series 3-0. A stunned, disillusioned Wadekar announced his retirement from first-class cricket.
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1979
Memories of the 1974 tour began to haunt the Indian cricket lovers when Venkataraghavan's team lost the first Test at Edgbaston by an innings and 83 runs on the 1979 jaunt. Only Viswanath (78 and 51), Gavaskar (61 and 68) and Chetan Chauhan (4 and 56) showed some fighting ability against a rampaging England attack spearheaded by Bob Willis, Ian Botham and Mike Hendrick.
India would have lost the second Test at Lord's, too, but timely centuries by Viswanath and Dilip Vengsarkar (the first of his three hundreds on the trot at the Mecca of cricket) and their 210-run third wicket stand helped achieve an honourable draw.
With rain disallowing second and third days' play, the third Test at Headingley also ended in a draw. Botham, who had already shown glimpses of his liking for the Indian attack by scoring 33 and 36 at Edgbaston and Lord's, hit a hurricane 137 in England's only innings.
India came tantalisingly close to winning the fourth Test at The Oval thanks to Gavaskar playing the innings of his life-time, 221, while trying to make 438 runs to win in the fourth innings. In the end, some unimaginative batting changes by Venkataraghavan show India making 429 for 8.
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1982
In 1982, India lost the first Test at Lord's by 7 wickets despite Vengsarkar (157) and Kapil Dev [Images] (89) batting brilliantly in the second innings. The second Test at Old Trafford, where Botham and Sandeep Patil smashed scintillating centuries, ended in a draw. The third, at The Oval, also produced no result. Botham hit 208 in the first innings.
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1986
India's best moment came on the 1986 tour, when we won the first Test at Lord's by 5 wickets and the second at Headingley by 279 runs.
Besides the in-form Vengsarkar's centuries in both the matches, collective efforts by medium-pacers Kapil Dev, Chetan Sharma, Roger Binny and Madan Lal and left-arm spinners Maninder Singh and Ravi Shahtri played a significant part in the happy turnaround. The third Test at Edgbaston ended in a draw.
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1990
As usual, India lost the first Test at Lord's by 247 runs on the 1990 tour under Mohammed Azharuddin. This was the very Test in which Graham Gooch was dropped by Kiran More on 33. The England opener went on to score 333. He made 123 in the second innings.
Gooch scored yet another hundred (116) in the drawn second Test at Old Trafford. For India, Azharuddin made 179 in the first innings and the teen sensation Sachin Tendulkar [Images] 119 not out in the second. The third and final Test at The Oval also produced no result despite India enforcing the follow-on on England after posting 606 for 9 thanks to Shastri (187) and Kapil Dev (110).
*~*~*~*~*~*~*~*~*~*~*~*~*~*
1996
The 1996 tour saw the rise of Sourav Ganguly [Images], Rahul Dravid [Images] and Venkatesh Prasad. Typically, India surrendered the first Test at Edgbaston by 8 wickets. The only saving grace for India was Tendulkar's masterly 122 out of India's 219 in the second innings (the next highest scorer was Sanjay Manjrekar with 18); and an impressive debut by Prasad, who claimed 4 for 71 and 2 for 50.
Making their maiden appearance for the country, Ganguly and Dravid scored 131 and 95 respectively in the first innings of the second Test at Lord's. Prasad again bowled nicely and took 5 for 76 and 2 for 54 as the Test ended in a draw.
In the third and last Test at Trent Bridge, which also produced a similar result, Ganguly hit his second successive ton (136) while Dravid (84) again missed to score his first. Tendulkar made a grand 177. Ganguly (48) and Tendulkar (77) were very impressive in the second innings as well. In fact, Ganguly was declared not only the Man of the Match but also the Player of the Series along with Nasser Hussain.
*~*~*~*~*~*~*~*~*~*~*~*~*~*
2002
It was again not surprising when England won the first Test at Lord's by 170 runs on our last tour in 2002. The only redeeming feature for India was a century (109 not out) by the unlikely Ajit Agarkar [Images]. Agarkar had every reason to feel proud because he achieved a feat -- scoring a Test hundred at Lord's -- which even Gavaskar and Tendulkar have not managed.
The second Test at Trent Bridge, where Virender Sehwag [Images] and Dravid scored centuries and Tendulkar and Ganguly got out in the 90s, ended in a draw.
But India bounced back and won the third at Headingley by an innings and 46 runs and levelled the series. Tendulkar (193), Dravid (148) and skipper Ganguly (128) enabled India to score 628 for 8 in the first innings. The England innings folded for 273 against some very fine bowling by offie Harbhajan Singh [Images] (3 for 40), leggie Anil Kumble (3 for 93) and seamers Zaheer Khan [Images] (2 for 59) and Agarkar (2 for 59).
Following on, England made 309 with captain Hussain making 110. Kumble, who took 4 for 66, ensured that India did not have to bat again.
The fourth and final Test at The Oval produced no result and England and India shared the rubber 1-1. While Michael Vaughan [Images] made 195 in England's first innings, Dravid scored 217 in India's. Both were jointly declared Players of the Series.
Overall, India's record in England is nothing to be proud about. Will Dravid and company fare well and improve India's record? Let us wait, watch and keep our fingers crossed!
To be precise, of the 45 Tests India has played in England between 1932 and 2002, the hosts won as many as 23. India won only four.
India's tour of England, 1932:
It all began with India's maiden Test appearance at Lord's in 1932 under C K Nayudu.. Besides Nayudu, we had only two other world-class players -- Mohammed Nissar and Amar Singh. But for this triumvirate, India would have lost by a staggering margin than it eventually did -- by 158 runs.
Nissar (5 for 93) bowled his heart out and restricted England to 259 in the first innings. He bowled the prolific and dangerous openers, Percy Holmes and Herbert Sutcliffe, who had put on 555 runs in their previous first-class match, with just 11 runs on the board. When the score was 19, the great Frank Woolley was run out.
But captain Douglas Jardine (79), wicketkeeper Leslie Ames (65) and Wally Hammond (35), who was bowled by Amar Singh, rescued England. Amar Singh took 2 for 75.
Nayudu, who dismissed Jardine and Eddie Paynter, and then chipped in with a breezy 40, was the top scorer in India's first innings of 189.
Enjoying a vital 70-run lead, Jardine declared England's second innings at 275 for 8 when he was close enough to completing what would have been a brilliant century of his. He (85 not out) was ably supported by Paynter (54). Jahangir Khan (better known as Majid Khan's father) claimed 4 for 60 and Amar Singh 2 for 84.
Chasing a 345-run target, the visitors were sent packing for 187 with Amar Singh scoring India's first ever half-century (51) batting at No 10.
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1936
India had a golden opportunity to win the first Test at Lord's on the 1936 tour but, as usual, the batsmen let the team down. After India was bowled out for 147 in the first innings, Amar Singh and Nissar paraded their awesome talents in front of the cognoscenti, including Neville Cardus, who had assembled at the hallowed Lord's.
The two ripped apart England's much-hyped batting line-up and gave India a crucial lead of 13 runs. Amar Singh bagged 6 for 35 and Nissar 3 for 36 as England made only 134. Only Maurice Leyland offered some resistance and made 60.
But India's batsmen, including Vijay Merchant, Mushtaq Ali and Nayudu came a cropper against speedster Gubby Allen (5 for 43) and spinner Hedley Verity (4 for 17) and were dismissed for a meager 93. Needless to say, England romped home with ridiculous ease -- by 9 wickets, to be exact.
However, Merchant (114) and Mushtaq (112) more than made up for their Lord's failure and helped India save the second Test at Old Trafford. They put on 203 for the first wicket in India's second innings. Mushtaq became India's first ever Test centurion abroad.
But India lost the third and final Test at The Oval by 9 wickets and with it the series, too, by 2-0.
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1946
Though England won the first Test at Lord's by 10 wickets, India managed to draw the second and third at Old Trafford and The Oval respectively in 1946 under Iftiqar Ali Khan Pataudi.
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1952
On the 1952 tour, Vijay Hazare's team lost the first three Tests and saved the fourth and final at The Oval, simply because there was no play on the third and fifth day because of rain. Otherwise Indian players had made all preparation to gift yet another Test to the hosts after getting all out for 98 in reply to England's 326 for 6 declared! So much so, we had lost 5 wickets for 6 runs at one stage.
This was the very series in which Freddie Trueman and Alec Bedser had the measures of most Indian batsmen.
Though Vijay Manjrekar scored a fine 133 in the first Test at Headingley, we lost by 7 wickets.
Vinoo Mankad's heroic all-round show (two innings of 72 and 184 as an opener and, as if that were not enough, marathon spells of 73-24-196-5 and 24-12-35-0) also could not help India save the second at Lord's, which England won by 8 wickets.
In the third Test at Old Trafford, we were reeling at 17 for 5 after England declared its only innings at 347 for 9. The entire eleven was eventually shot out for 58 with Trueman taking 8 for 31. Following on, India fared a bit better and scored 82 with Bedser claiming 5 for 27. England won by an innings and 207 runs.
Polly Umrigar, in particular, had a horrendous series. Trueman and Bedser had literally relegated this giant to a pigmy. Just look at Umrigar's scores in the four Tests � 8, 9, 5, 14, 4, 3, 0.
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1959
But England did succeed in winning all the five Tests in 1959 as the Dattaji Gekwad-led Indian side did not appear to make even an effort to avoid humiliation. The hosts won the first Test at Trent Bridge by an innings and 59 runs, second at Lord's by 8 wickets, third at Headingley by an innings and 173 runs, fourth at Old Trafford by 171 runs and fifth at The Oval by an innings and 27 runs.
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1967
Never one to learn lessons from the past, India did an encore on the 1967 tour and lost all the three Tests. Even Mansur Ali Khan "Tiger" Pataudi's courageous batting (64 and 148) astute leadership could not change India's fortunes as we lost the first Test at Headingley by 6 wickets.
This was the very Test in which Geoffery Boycott essayed his infamous 246 not out in England's first innings total of 550 for 4 declared. Infamous because the master technician batted unpardonably slowly, as if it were a timeless Test, and bored the spectators to death. The selectors punished him by dropping him from the second Test at Lord's, which England won by an innings and 124 runs.
With nothing to lose, including pride, which had already been lost, India fielded the famed spin quartet -- Erapalli Prasanna, Bhagwat Chandrasekhar, Bishen Singh Bedi and S Venkataraghavan -- together for the first and only time in the third and last Test at Edgbaston.
Though they bowled very well, took 18 wickets amongst themselves and restricted England to 298 and 203 in the two innings, their batting colleagues did not lend them any support. India mustered merely 98 and 277 in the two essays and England won by 132 runs.
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1971
Probably the first time India went to England with full confidence and a set of players capable of playing as a team and winning matches consistently was in 1971 under Ajit Wadekar. Wadekar's team had already beaten the West Indies [Images] in the Caribbean the same year and the expectations were obviously very high. On the other hand, Ray Illingworth and company had just won the Ashes in Australia and they, too, were on cloud nine and feeling as if they were world champs.
The first Test at Lord's ended in an exciting draw. When rain forced the umpires to abandon the game, India required 38 runs to win with 2 wickets in hand. But then England, too, could have won as only Bedi and Chandrasekhar were left to accompany Eknath Solkar, who was then batting on 6. After Bedi, Chandrasekhar and Venkataraghavan restricted England to 304 in the first innings, Wadekar (85), Gundappa Viswanath (68) and Solkar (67) helped India gain a slender but moral-boosting 9-run lead.
The Unbelievable Upset!
In all probability, India might have lost the second Test at Old Trafford but for rain. England set India a target of 457 in the fourth innings and the visitors were 65 for 3 at the draw of stumps on the fourth day with Viswanath and Dilip Sardesai at the crease. But no play was possible on the final day.
It was, of course, in the third Test at The Oval where India made history, winning by 4 wickets. Not only did India register its first ever Test triumph in England but also its maiden series win there. The chief architect was Chandrasekhar, whose 6 for 38 bowled England out for 101 in the second innings and paved the way for India's famous victory.
Besides Chandrasekhar's match-winning spell, useful contributions with the bat by Sardesai, Wadekar, Viswanath, Farokh Engineer and Solkar could not be ignored. Above all, it was Solkar's breathtaking fielding at the forward short-leg that gave a new confidence to the Indian bowlers and brought the English batsmen under tremendous psychological pressure.
The jubilant Indian cricketers went on to defeat England 2-1 at home in the next Test series, making it three series wins in a row for Wadekar. However, as the subsequent events proved, the success turned out to be as transient as it was dazzling.
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1974
Wadekar's squad lost all the Tests of the 1974 series in England -- first by 113 runs at Old Trafford despite Sunil Gavaskar [Images] (101 and 58) and Viswanath (40 and 50) batting superbly under trying circumstances and against heavy odds, second by an innings and 285 runs at Lord's and the third by an innings and 78 runs at Edgbaston.
At Lord's, India was dismissed for 42 (yes forty-two) in the second innings. The humiliation was such that the Fleet Street began to describe India's '74 tour as "the summer of 42". Back home, effigies of Indian cricketers were burnt and Wadekar's house was heavily stoned after India lost the series 3-0. A stunned, disillusioned Wadekar announced his retirement from first-class cricket.
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1979
Memories of the 1974 tour began to haunt the Indian cricket lovers when Venkataraghavan's team lost the first Test at Edgbaston by an innings and 83 runs on the 1979 jaunt. Only Viswanath (78 and 51), Gavaskar (61 and 68) and Chetan Chauhan (4 and 56) showed some fighting ability against a rampaging England attack spearheaded by Bob Willis, Ian Botham and Mike Hendrick.
India would have lost the second Test at Lord's, too, but timely centuries by Viswanath and Dilip Vengsarkar (the first of his three hundreds on the trot at the Mecca of cricket) and their 210-run third wicket stand helped achieve an honourable draw.
With rain disallowing second and third days' play, the third Test at Headingley also ended in a draw. Botham, who had already shown glimpses of his liking for the Indian attack by scoring 33 and 36 at Edgbaston and Lord's, hit a hurricane 137 in England's only innings.
India came tantalisingly close to winning the fourth Test at The Oval thanks to Gavaskar playing the innings of his life-time, 221, while trying to make 438 runs to win in the fourth innings. In the end, some unimaginative batting changes by Venkataraghavan show India making 429 for 8.
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1982
In 1982, India lost the first Test at Lord's by 7 wickets despite Vengsarkar (157) and Kapil Dev [Images] (89) batting brilliantly in the second innings. The second Test at Old Trafford, where Botham and Sandeep Patil smashed scintillating centuries, ended in a draw. The third, at The Oval, also produced no result. Botham hit 208 in the first innings.
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1986
India's best moment came on the 1986 tour, when we won the first Test at Lord's by 5 wickets and the second at Headingley by 279 runs.
Besides the in-form Vengsarkar's centuries in both the matches, collective efforts by medium-pacers Kapil Dev, Chetan Sharma, Roger Binny and Madan Lal and left-arm spinners Maninder Singh and Ravi Shahtri played a significant part in the happy turnaround. The third Test at Edgbaston ended in a draw.
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1990
As usual, India lost the first Test at Lord's by 247 runs on the 1990 tour under Mohammed Azharuddin. This was the very Test in which Graham Gooch was dropped by Kiran More on 33. The England opener went on to score 333. He made 123 in the second innings.
Gooch scored yet another hundred (116) in the drawn second Test at Old Trafford. For India, Azharuddin made 179 in the first innings and the teen sensation Sachin Tendulkar [Images] 119 not out in the second. The third and final Test at The Oval also produced no result despite India enforcing the follow-on on England after posting 606 for 9 thanks to Shastri (187) and Kapil Dev (110).
*~*~*~*~*~*~*~*~*~*~*~*~*~*
1996
The 1996 tour saw the rise of Sourav Ganguly [Images], Rahul Dravid [Images] and Venkatesh Prasad. Typically, India surrendered the first Test at Edgbaston by 8 wickets. The only saving grace for India was Tendulkar's masterly 122 out of India's 219 in the second innings (the next highest scorer was Sanjay Manjrekar with 18); and an impressive debut by Prasad, who claimed 4 for 71 and 2 for 50.
Making their maiden appearance for the country, Ganguly and Dravid scored 131 and 95 respectively in the first innings of the second Test at Lord's. Prasad again bowled nicely and took 5 for 76 and 2 for 54 as the Test ended in a draw.
In the third and last Test at Trent Bridge, which also produced a similar result, Ganguly hit his second successive ton (136) while Dravid (84) again missed to score his first. Tendulkar made a grand 177. Ganguly (48) and Tendulkar (77) were very impressive in the second innings as well. In fact, Ganguly was declared not only the Man of the Match but also the Player of the Series along with Nasser Hussain.
*~*~*~*~*~*~*~*~*~*~*~*~*~*
2002
It was again not surprising when England won the first Test at Lord's by 170 runs on our last tour in 2002. The only redeeming feature for India was a century (109 not out) by the unlikely Ajit Agarkar [Images]. Agarkar had every reason to feel proud because he achieved a feat -- scoring a Test hundred at Lord's -- which even Gavaskar and Tendulkar have not managed.
The second Test at Trent Bridge, where Virender Sehwag [Images] and Dravid scored centuries and Tendulkar and Ganguly got out in the 90s, ended in a draw.
But India bounced back and won the third at Headingley by an innings and 46 runs and levelled the series. Tendulkar (193), Dravid (148) and skipper Ganguly (128) enabled India to score 628 for 8 in the first innings. The England innings folded for 273 against some very fine bowling by offie Harbhajan Singh [Images] (3 for 40), leggie Anil Kumble (3 for 93) and seamers Zaheer Khan [Images] (2 for 59) and Agarkar (2 for 59).
Following on, England made 309 with captain Hussain making 110. Kumble, who took 4 for 66, ensured that India did not have to bat again.
The fourth and final Test at The Oval produced no result and England and India shared the rubber 1-1. While Michael Vaughan [Images] made 195 in England's first innings, Dravid scored 217 in India's. Both were jointly declared Players of the Series.
Overall, India's record in England is nothing to be proud about. Will Dravid and company fare well and improve India's record? Let us wait, watch and keep our fingers crossed!
Friday 13 July 2007
HDFC, Wipro, Infosys among Asia's most admired companies
There's no shortage of Asian companies that have prospered thanks to a laser-like focus on their home markets. But what wins enough fans to land on BusinessWeek's list of most admired companies in Asia is success overseas.
Over the past few weeks, we've been asking visitors to BusinessWeek.com to vote for the Asian companies they most admire. The results now in and one trend is clear. Whether it's Toyota in Japan, Lenovo in China, or Infosys [Get Quote] in India, the companies that have won recognition this year are those that have been pushing to build their businesses globally.
Toyota, of course, has a long history in the U.S. Now the Japanese automaker is beefing up its presence there even more. "We're committed to building cars where we sell them. We've done that, and there's no reason to think we won't be doing that in the future," says Jim Press, head of Toyota's North American operations.
Cruise Control? No Way
In North America alone, Toyota is in the process of boosting production by 600,000 units per year at five locations, including a new, 150,000-capacity, sport-utility vehicle plant in Mississippi scheduled to come online in 2010.
3 Indian companies among Asia's 15 best firms | |
1 | Infosys |
2 | Wipro [Get Quote] |
3 | HDFC Bank [Get Quote] |
Toyota isn't ignoring giant market opportunities closer to home, either. In China it has long taken a back seat to Honda. But this year it looks likely to overtake its rival to become the leading Japanese carmaker in the high-revving Chinese market.
Like Toyota, Nintendo boasts legions of American devot�es. Of the 10 best-selling games in the U.S. in April, the top four were all made by Nintendo. They included Pokemon Diamond and Pokemon Pearl, which combined sold almost 1.8 million copies in April even though they only went on sale on the 22nd.
Thanks to the enduring popularity of the Pokemon game series and the runaway success of Nintendo's Wii game console, the company has been a favorite not just among gamers but also among investors. The stock price is up more than 47% this year, and the company now has a bigger market capitalization than Sony, even though Nintendo's sales are less than 12% those of Sony's.
Lenovo's Home-Court Advantage
The U.S. is also a make-or-break market for Lenovo, one of three Chinese companies on our list. Lenovo Group purchased the PC division of IBM in 2005, and since then management has been trying to persuade American computer buyers to embrace the Chinese brand.
It's been tough going, but Lenovo is starting to see some results from its American push. In the quarter that ended Mar. 30, the company reported that it had an operating profit margin of 1.6% in the U.S. That might not sound impressive, but compare it to the negative 3.4% of the previous quarter, and the number becomes more meaningful.
"Lenovo finally achieved profitability in the U.S.," a quartet of Bear Stearns analysts led by Jack Tse wrote shortly after the results came out in late May. "Lenovo clearly has made a good progress."
While Lenovo still faces serious challenges from bigger rivals like Hewlett-Packard and Dell, not to mention Taiwanese competitor Acer, it remains the No. 1 player in its home market by a big margin. Other companies on our list enjoy similar dominance.
Expansive Plans
Consider, for instance, NHN. It's the top portal and search engine in South Korea, far ahead of Google.
And like so many of the other companies on this year's list, NHN is branching out. It is now expanding its business to Japan. In that sense it's similar to Baidu.com, the Beijing company that is the top search engine in China. Baidu also is crushing Google, with the American search giant a distant No. 2 in the Chinese market. And like NHN, Baidu earlier this year set up a subsidiary in Japan.
In tiny Singapore, the need to expand beyond the home market is more obvious than in a gigantic market like China or India. Both of the Singaporean companies on our list have been leading that push.
Singapore Airlines is in negotiations to acquire a 25% stake in China Eastern, one of China's largest carriers. At the same time, the airline is expanding its reach through its subsidiary Tiger Air, a new, lower-cost carrier.
State-backed Singapore Telecom, meanwhile, already derives a big chunk of its profits from its Australian subsidiary, Optus. Now it's expanding in other parts of Asia.
SingTel has a 30.8% stake in Bharti Airtel [Get Quote], one of the world's fastest-growing cellular carriers. And on June 28 the Singaporean company reached a deal to pay $758 million for a 30% stake in Warid Telecom International, one of Pakistan's top operators.
Old-Style Manufacturing
Another factor contributing to the popularity of the companies on BusinessWeek's list is technology leadership and innovation. Companies such as Infosys and Wipro in India have well-established reputations as being top innovators in providing IT services for customers.
And as Korea's Posco demonstrates, tech leadership pays off in old-style manufacturing, too. The Korean steelmaker inaugurated a new plant in May with a new type of technology that uses noncoking coal rather than the more expensive hard-coking coal favored by most steelmakers.
The Posco plant has "first-of-its kind technology," enthused Credit Suisse analysts Hocheol Kim and Seungwoo Hong in a June 21 research report. Thanks to that commitment to new technology, "the company has made a big step towards strengthening its global cost leadership," the two wrote, adding that Posco's tech advantage should come in handy as the company expands beyond Korea to India and other Asian countries.
Govt clears Mukesh Ambani's SEZ; 27 others get nod
Undaunted by criticism by a Parliamentary panel, the government cleared 28 fresh special economic zone proposals on Thursday, including the Navi Mumbai promoted by Reliance Industries [Get Quote] Chairman Mukesh Ambani, taking the total number of approvals to over 500.
The board of approvals gave formal approvals to 21 special economic zone proposals and seven 'in-principle' cases.
The Navi Mumbai SEZ proposal of Ambani and his close aide Anand Jain was finally given the nod after the Centre received a green signal from the Maharashtra government.
The multi-product Navi Mumbai SEZ has been cleared with the condition that promoters should build, within a year, the infrastructure that would ensure contiguity on the 1,250 hectare land where it is coming up in Maharashtra, Commerce Secretary and Chairman of BoA G K Pillai said.
The Special Purpose Vehicle that is building the SEZ has also been prevented from allowing any unit to come up in the zone before underpasses and over bridges are constructed for meeting contiguity requirements, he said.
The Navi Mumbai SEZ proposal had been deferred twice by the BoA on issues of contiguity and rights of villages in the vicinity of the zone. Thursday's clearance came after all the issues were addressed.
The state government was asked to give its views on the report of Revenue Department, which raised issues that included rights of the villagers in the area.
The Parliamentary Standing Committee, headed by senior BJP leader Murli Manohar Joshi, had asked the government last week to put a freeze on fresh notifications until the SEZ Act and the rules were changed.
The committee observed that the government was showing 'undue haste' in clearing SEZs, ignoring interests of farmers and other stakeholders.
Rising rupee - Warning ahead
Jahangir Aziz and Kalpana Kochhar of the International Monetary Fund recently argued in this paper (July 5): "The lesson for India is that allowing the rupee to appreciate helps to cool an overextended economy without driving interest rates so high as to kill off much-needed investment.
"Resisting nominal exchange rate appreciation because of concerns over export competitiveness is counterproductive - the resulting higher liquidity and inflation will inevitably erode competitiveness by making domestic goods more expensive.
"A much more sustainable strategy would be to achieve cost efficiencies through urgent infrastructure upgradation and education and labour market reforms."
There are so many unstated but sweeping assumptions in these couple of sentences: that the economy is "over-extended" (one disagrees); that "resisting nominal exchange rate appreciation" is counterproductive (we have managed to do this extremely productively for 15 years); that nominal appreciation of the currency will not erode competitiveness (rubbish); that infrastructure upgrade and education achieve cost-efficiencies (yes, but only over the medium term; by that time, all of us will be dead anyway).
The views are of course in keeping with the illustrious record of the IMF in surveillance of exchange rate policies, one of its primary objectives under the articles of association. It found very little wrong with the policies in the South-east Asian economies, even a few months before the region was engulfed in a series of balance of payments crises, just about a decade back.
It also granted yet another loan to Argentina, a little before the currency board policy became unsustainable, had to be abandoned, and the peso collapsed to a fraction of its earlier value. As for labour market reform, it is a pie in the sky in the current political environment.
Meantime, however, it does seem that the central bank is fully in agreement with the worthy IMF economists, and continues to allow the tail of sterilisation economics to wag the dog of the real economy. Incidentally, even as our central bank keeps articulating the difficulties in managing capital flows, Vietnam, a much smaller economy, is hoping to absorb $150 bn of capital inflows over the next five years - and China probably double that!
But this apart, despite the surprisingly low deficit on the current account for 2006-07, as conventionally calculated, reported by the central bank, there are a few points worth taking note of:
The merchandise trade deficit continued to gallop last year, even before the sharp rise of the rupee in the current year. The position will only worsen significantly in the current fiscal year: the first two months' numbers evidence a rise of 60 per cent in the deficit. And, oil prices have recently crossed $76 a barrel.
The current account deficit, excluding remittances, which are exogenous to and have nothing to do with economic competitiveness, was 4 per cent of GDP. Our complacency on the issue needs to be tempered by the fact that, unlike the US dollar, the rupee is not a reserve currency.
And, quite apart from the growth and jobs lost because of the deficit, there are limits to how much red ink we can continue to sustain in the belief that foreigners are only too ready to finance it forever.
To my mind, the major reasons for the Asian crisis a decade back were overvalued exchange rates, complacency about deficits on the current account, and freedom to residents to transfer savings abroad. All of these are present, in greater or lesser degree, in our case. An additional factor was short-term external credit, supposedly not present in our case - but see the next point.
Ostensibly, our short-term credit is low, $12 bn, as of March 2007, according to the external debt statistics released by the RBI. However, "this number does not include supplier's credits of up to 180 days". It is doubtful whether even supplier credit beyond 180 days is being properly captured. (Authorised dealers have considerable freedom to approve credit up to one year, and even beyond for certain imports: do the RBI data capture this?) What could be the amount?
The aggregate merchandise imports in 2006-07 were $200 billion. From what I know from my corporate clients' position, easily half of this is coming under supplier/buyer credits. In other words, the actual short-term trade credit outstanding could well be of the order of $50 billion plus, a huge number by any standards. (In fact, in today's exchange and interest rate scenario, any treasurer not using credit on imports deserves to be sacked!)
And, the central bank seems to have no data on the changes in flows or stock. It claims to account for leads and lags in exports under "other capital", but seems to gloss over the far bigger leads and lags on the importing side.
The commerce ministry wants to go back to the old era of fiscal subsidies to exports. Surely, the Prime Minister, at least in his old avatar as an economist, knows better than anybody else the importance of a competitive exchange rate?
But such issues apart, many other myths persist: for example, "a stronger rupee is beneficial for...import-dependent exports". The diamond cutters and polishers in Surat obviously do not know this: they are closing businesses!
The fact is that for import-dependent exports, the economics depends on the value added which is, effectively, in foreign currency terms, while costs are in rupees. The margins vanish with an appreciating rupee.
Complacency on the current account just because the deficit can be financed at least for now could prove costly, particularly when many external analysts believe the equity market to be overvalued (Citigroup recently described it as the least attractive in Asia), and the escalation in wage cost, on the one hand, and the sharp rise in the rupee, on the other, are squeezing the margins even in the vaunted services export sector.
MBA Schools - Trouble in Paradise?
Things have never been better for business schools. College graduates in every country in the world vie for admissions to business schools, after, in many cases, spending months training for the tough entrance exams. Business schools everywhere have the luxury of picking and choosing among the many who apply.
In the United States, at the top business schools, only a small proportion of the applicants are admitted. In India, the choosiness is even more, with the Indian Institutes of Management admitting less than 1 per cent of the nearly 200,000 who take the admission tests.
The picture gets even rosier at graduation time with employers scrambling for a chance to make their pitch to students. Starting salaries for MBAs from the top business schools in every country beat that of any other profession by miles and have been in an ever-increasing spiral for the last few years.
At the IIMs, during the last few years the placement "season" lasts less than a week, during which the entire graduating class is snapped up. At the top international business schools like the Harvard Business School and INSEAD in Europe, the feeding frenzy is as much.
Why, then, has there been a spate of articles in recent times from respected business school professors with titles like "How Business Schools Lost their Way," "The End of Business Schools," and "Can American Business Schools Survive?" What trouble do these savants see in the future while the rest of the world continues besotted with an MBA degree?
To start with, when lists of business leaders are drawn up, people who really made a difference, people like Bill Gates of Microsoft or Dhirubhai Ambani closer home, MBAs don't figure in them. More embarrassing, many (as in these two cases) do not even have a college degree, let alone an MBA.
When studies are done about the career progression after a few years of work, MBAs do not seem to have made significantly more progress than non-MBAs.
An internal study done by the prestigious US management consulting firm, Monitor, found that "people hired from high-end business schools were no better at integrative thinking than undergraduates...hired from the top-notch liberal arts programs".
Some would-be reformers of the MBA programs, like Jeffrey Pfeffer of the Stanford Business School, believe that much of what business schools teach - analytical tools like statistics and basic disciplines like economics and sociology - are readily learned and imitated by any intelligent person.
On the other hand, things like communication ability, inter-personal skills, leadership and, most importantly, "wisdom", the ability to weave together and make use of different kinds of knowledge, are less easily taught. Paradoxically, these are the very skills that lie at the heart of a leadership role in management.
Others like Warren Bennis and James O'Toole (their article in the Harvard Business Review, "How Business Schools Lost their Way," is much quoted in this debate) say that there is actually a crisis in management education and trace this to business schools attempting to adopt a "scientific model".
This model attempts to treat management education as if it was something like physics or chemistry or biology whereas it is, in their view, more a "profession" like medicine or law. They see this distinction between an academic discipline and a profession as the central issue.
Why have business schools adopted the scientific model of physicists and economists rather than the professional model of doctors and lawyers? They believe this arises from business schools attempting to gain scientific respectability and avoid the stigma of a vocational training centre. The scientific model, says Bennis, "advances the careers and satisfies the egos of the professoriate".
Business schools have always had this conflict: is it their role to impart "training" or is it to impart "education"? This is not a trivial distinction. Training is aimed at equipping students with a set of tools that they can immediately apply in their very first job.
For example, teaching students to do a discounted cash flow analysis, that trusty tool of financial analysts, is "training". "Education," on the other hand, is supposed to be longer-lasting. For example, understanding the nuances of the difference between the law of diminishing returns and the law of increasing returns and more importantly how these two different theories came about may not do much for a student in his first job but would perhaps equip him with a lifelong ability to understand the drivers of business success and failure.
The result of all this debate is a worldwide attempt to reform business school curricula. One direction of this reform is to infuse more humanities into the curriculum. James March of Stanford is supposed to have taught his famous behavioural sciences course using novels like War and Peace as his textbook. There is more to learn about human behaviour in these classics, he believed, than in articles in business journals.
"Business schools," says Bennis, "need a diverse faculty populated with professors who, collectively, hold a variety of skills and interests that cover territory as broad and as deep as business itself."
If paradise has to be regained in this age of specialisation, is a broad-based humanities-oriented curriculum the answer for business schools?
How Friday the 13th Works
Let's look at this objectively for a second: - In order to organize time, human beings created calendars.
- As part of today's dominant calendar system, every year is divided into 12 periods called months, consisting of roughly 30 days each.
- All days are also grouped into sets of seven, called weeks.
- In the Western world, a significant chunk of the population suspects bad things will happen whenever the 13th day of a month occurs on the day of the week called Friday.
Like many human beliefs, the fear of Friday the 13th (known as paraskevidekatriaphobia) isn't exactly grounded in scientific logic. But the really strange thing is that most of the people who believe the day is unlucky offer no explanation at all, logical or illogical. As with most superstitions, people fear Friday the 13th for its own sake, without any need for background information.
The superstition does have deep, compelling roots, however, and the origins help explain why the belief is so widespread today. In this article, we'll look at some of the interesting stories behind this unluckiest of days.
The Christian Tradition
The fear of Friday the 13th stems from two separate fears -- the fear of the number 13 and the fear of Fridays. Both fears have deep roots in Western culture, most notably in Christian theology.Thirteen is significant to Christians because it is the number of people who were present at the Last Supper (Jesus and his 12 apostles). Judas, the apostle who betrayed Jesus, was the 13th member of the party to arrive.
Christians have traditionally been wary of Fridays because Jesus was crucified on a Friday. Additionally, some theologians hold that Adam and Eve ate from the forbidden fruit on a Friday, and that the Great Flood began on a Friday. In the past, many Christians would never begin any new project or trip on a Friday, fearing they would be doomed from the start.
Sailors were particularly superstitious in this regard, often refusing to ship out on a Friday. According to unverified legend (very likely untrue), the British Navy commissioned a ship in the 1800s called H.M.S. Friday, in order to quell the superstition. The navy selected the crew on a Friday, launched the ship on a Friday and even selected a man named James Friday as the ship's captain. Then, one Friday morning, the ship set off on its maiden voyage... and disappeared forever. A similar, entirely factual story is the harrowing flight of Apollo 13.
Some historians suggest the Christian distrust of Fridays is actually linked to the early Catholic Church's overall suppression of pagan religions and women. In the Roman calendar, Friday was devoted to Venus, the goddess of love. When Norsemen adapted the calendar, they named the day after Frigg, or Freya, Norse goddesses connected to love and sex. Both of these strong female figures once posed a threat to male-dominated Christianity, the theory goes, so the Christian church vilified the day named after them.
This characterization may also have played a part in the fear of the number 13. It was said that Frigg would often join a coven of witches, normally a group of 12, bringing the total to 13. This idea may have originated with the Christian Church itself; it's impossible to verify the exact origins of most folklore. A similar Christian legend holds that 13 is unholy because it signifies the gathering of 12 witches and the devil.
The number 13 could also have been considered pagan because there are 13 months in the pagan lunar calendar. The lunar calendar also corresponds to the human menstrual cycle, connecting the number to femininity.
Other Traditions
The Christian perspective on Friday and 13 is the most relevant today, but it's only one part of the Friday the 13th tradition.Some trace the infamy of the number 13 back to ancient Norse culture. In Norse mythology, the beloved hero Balder was killed at a banquet by the mischievous god Loki, who crashed the party of twelve, bringing the group to 13. This story, as well as the story of the Last Supper, led to one of the most entrenched 13-related beliefs: You should never sit down to a meal in a group of 13.
Another significant piece of the legend is a particularly bad Friday the 13th that occurred in the middle ages. On a Friday the 13th in 1306, King Philip of France arrested the revered Knights Templar and began torturing them, marking the occasion as a day of evil. Check out this site to learn more.
Both Friday and the number 13 were once closely associated with capital punishment. In British tradition, Friday was the conventional day for public hangings, and there were supposedly 13 steps leading up to the noose.
Ultimately, the complex folklore of Friday the 13th doesn't have much to do with people's fears today. The fear has much more to do with personal experience. People learn at a young age that Friday the 13th is supposed to be unlucky, for whatever reason, and then they look for evidence that the legend is true. The evidence isn't hard to come by, of course. If you get in a car wreck on one Friday the 13th, lose your wallet, or even spill your coffee, that day will probably stay with you. But if you think about it, bad things, big and small, happen all the time. If you're looking for bad luck on Friday the 13th, you'll probably find it.
For more information about Friday the 13th and other superstitions, check out the links on the next page.
Lots More Information
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US Senate opens with Hindu prayer
History was created in the United States Senate at 9.30 am on Thursday, when Rajan Zed, the Hindu chaplain of the Indian Association of Northern Nevada, opened the Senate with a Hindu prayer.
This is the first such instance since the formation of the powerful Upper House in 1789.
A few Christian fundamentalists protested and began screaming, while holding the Bible aloft, "Lord Jesus, protect us from this abomination."
Officers from the Sergeant of Arms' office ejected one after the other (three were taken away) from the Senate gallery which looks down on the floor.
The president pro-tem of the Senate, had to beat the podium with his gavel thrice. He requested Zed to halt his prayer just as he was about to begin, and called on the Sergeant of Arms to restore order in the Senate Chamber.
A Senate aide said these people probably had gotten visitor's passes to the Senate gallery through a Senator's office and noted that "disrupting a Senate in the chamber is a criminal offense and they can be arrested."
A few minutes later, Zed delivered his prayer which took no more than 90 seconds, which as per the instructions from the Office of the Chaplain of the Senate had to be delivered exclusively and entirely in English.
"Let us pray," Zed began, "We meditate on the transcendental glory of the deity supreme, who is inside the heart of the earth, inside the life of the sky and inside the soul of heaven. May he stimulate and illuminate our minds.
"Lead us from the unreal to real, from darkness to light, and from death to immortality. May we be protected together. May we be nourished together. May we work together with great vigor. May our study be enlightening. May no obstacle arise between us."
Seeking the blessings of god on behalf of and for the Senators, Zed declared, "May the Senators strive constantly to serve the welfare of the world, performing their duties with the welfare of others always in mind. Because by devotion to selfless work one attains the supreme goal of life. May they work carefully and wisely, guided by compassion, and without though for themselves."
"United your resolve, united your hearts, may your spirits be at one, that you may long dwell in unity and concord!" he added, and ended with, "Peace, peace, peace be unto all."
Before stepping away from the podium, Zed also said, "And, Lord, we ask you to comfort the family of former First Lady, Lady Bird Johnson," wife of the former and late President Lyndon Baines Johnson, who died at age 94.
Speaking to rediff.com immediately after he delivered the prayer, Zed said, "I sprinkled some Ganga jal -- the water from the Holy Ganges [Images] on the podium before the prayer."
He also bemoaned the protests, saying, "I believe dialogue is always better," and profusely thanked Senate Majority Leader Harry Reid, Nevada Democrat, who had arranged for him to deliver the first Hindu prayer in the US Senate.
"The Senator was a very courageous man for standing up and giving us this opportunity. He was very courageous and I appreciate what he did very much," he said.
A few minutes later, when this correspondent accompanied Zed, his wife, Shipa, and four of his friends from Virginia, who were the only Indians present in the gallery to witness this historic chapter in the US Senate, to Reid's office, Zed told Reid, "We appreciate your courage, you stood up to them. We appreciate it very much that you went through with it."
Reid, seeing the conspicuous tilak of Zed's forehead, asked him what it was about, and the latter, who was wearing the saffron robes synonymous with Hindu priests, explained that it is a sign of auspiciousness.
Earlier, before the prayer, Reid told rediff.com, "There has been some criticism that I arranged this, which is true."
Asked if these protests were from other denominations, Reid said, "From other people," and noted, "The Senate Chaplain's office got hundreds of people protesting, by phone, mail and e-mail for allowing this."
But he asserted: "It shows what America is all about. Having real big arms to put around everyone and this is a religion that has been around a long time, which has brought peace and contentment to people over the generations and we are happy to have a (Hindu) prayer."
Before the prayer, Zed told rediff.com he felt honored, humbled and thrilled that he was creating history. "It's a great honor for me, my family, for the great state of Nevada, for all Americans and for us all Hindus. It's is indeed a historic occasion for all of us Indian-Americans also."
Zed said the fact that a Hindu prayer was opening the US Senate for the first time, was a clear indication that there is an acceptance of Hinduism as part of America today. "Slowly we are becoming mainstream. Yoga is very popular already, and through yoga in America, Hinduism is becoming more known. I teach Hinduism classes also in the community colleges (in Reno, Nevada) and I get a very favorable reception."
Each day, when the Senate is in session, the Senate chaplain delivers the opening prayer, before the Senate gets down to the business of lawmaking, which it shares with the US House of Representatives, but occasionally, on the urging of one community of another, particularly those from minority religions, guest chaplains are invited from across the country to deliver a prayer from their faith.
Zed, an alumnus of the Panjab University, from where he received his bachelor of journalism degree, is also the public relations office of the India Association of North Nevada.
After coming to the US for higher studies, Zed received his master of science and master of business administration from San Jose State University in California and the University of Nevada, Reno, respectively.
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