Euro zone savings deposits are safe, says German minister

German Finance Minister Wolfgang Schaeuble has said savings accounts in the euro zone are safe, adding that Cyprus is a "special case" and not a template for future rescues.

In an interview with Bild newspaper published on Saturday, Schaeuble distanced himself from comments on Monday by Eurogroup chairman Jeroen Dijsselbloem, who said the rescue programme agreed for Cyprus - the first to impose a levy on bank deposits - would serve as a model for future crises.

"Cyprus is and will remain a special one-off case," Schaeuble said.

"The savings accounts in Europe are safe."

Schaeuble said the problem in Cyprus was that two large banks in Cyprus were in effect no longer solvent and the Cyprus government did not have enough money to guarantee savings.

"That's why the other euro zone countries had to help," he said. "Together in the Eurogroup we decided to have the owners and creditors take part in the costs of the rescue - in other words those who helped cause the crisis."

Schaeuble said he was confident Cyprus would be able to completely pay back the help. "Cyprus's economy will now go through a long and painful period of adjustment. But then it will pay back the loan when it is on a solid economic foundation."

Schaeuble said the euro was stronger today than at any time since 2010.

"Yes, you could see that during the Cyprus crisis," he said. "The entire turbulence did not have any impact on the other countries in Southern Europe."

He said it was different in early 2012, when elections in Greece caused interest rates across Southern Europe to rise.

"The financial markets have seen: we are better prepared now. We've accomplished quite a bit," Schaeuble said.

He said he was against thinking about individual countries leaving the euro zone. "What is more important is that we are strong enough to keep everyone in the boat," he said.

"I believe that we will one day read in the history books about this period that the crisis brought Europe even closer together," he said, adding the continent was currently enjoying "a very fortunate era".

20.07 | 0 komentar | Read More

Amazon to acquire book recommendations site Goodreads

Mar 30, 2013, 05.55 PM IST

Source: Tech2.com

Like this story, share it with millions of investors on M3

Amazon to acquire book recommendations site Goodreads

Know Goodreads? Well, Amazon today announced that it is in the process of acquiring it. Goodreads, ...

Like this story, share it with millions of investors on M3

Amazon to acquire book recommendations site Goodreads

Know Goodreads? Well, Amazon today announced that it is in the process of acquiring it. Goodreads, ...

  .   Share  .  Email  .  Print  .  A+A-

Know Goodreads? Well, Amazon today announced that it is in the process of acquiring it. Goodreads, the site for book recommendations, is where book lovers can find and share the books they love. While the terms of the acquisition were not made known, Russ Grandinetti, Amazon Vice President, Kindle Content, said, "Amazon and Goodreads share a passion for reinventing reading. Goodreads has helped change how we discover and discuss books and, with Kindle, Amazon has helped expand reading around the world. In addition, both Amazon and Goodreads have helped thousands of authors reach a wider audience and make a better living at their craft. Together we intend to build many new ways to delight readers and authors alike."

Click here for full story

20.07 | 0 komentar | Read More

Indefinite curfew in Assam silk town Sualkuchi

Indefinite curfew was clamped after silk weavers observing a 12-hour bandh today defied prohibitory orders in this town in Kamrup (Rural) district protesting the use of artificial silk, official sources said. The police fired rubber bullets after a lathi-charge and teargas failed to quell the weavers who ransacked shops selling silk clothes and made bonfires of these on the road, they said. One person received injuries in the firing, they said.

The weavers, who converged on the main market in the morning, also demanded that the State Bank of India branch down its shutters, the sources said. The weavers alleged that artificial silk brought from other parts of the country for making the traditional Assamese attire was affecting them and the silk industry in the state. They also alleged that the silk clothes the shops were selling were not pure Assamese golden Muga Silk and white Paat Silk as the clothes burnt turned to ash unlike pure silk. The trouble began yesterday when the weavers set ablaze silk clothes, clashed with shopkeepers and threw stones at the police when they intervened injuring five of them. The local people, who reared silk worms and were employed in the weaving industry, have been on the warpath for some time against the use of artificial silk from outside by traders for preparing traditional attires as it was cheap and had a better finish than the local silk varieties. They claimed that local weavers, who used looms for weaving, were unemployed because of the machine-made products while silkworm rearing had become extinct due to the lack of market for the expensive silk. They also accused that the state government had assured to give Rs 100 crore for the survival of the Assam Paat and Muga silk industry facing stiff competition from artificial silk, but the funds were yet to be released.

20.07 | 0 komentar | Read More

How impact investing could affect biz in India

The Rockefeller Foundation reports that impact investing is set to grow at an annual pace of 30 percent. India is the second-largest market for impact investing after the US, with USD 500 million worth of investments made in 2012 alone. But what does this mean?

When Pierre Omidyar saw his networth cross a billion dollars in 1998 as Ebay listed on the capital markets, he knew he had to do more with his wealth that had come to him in just three years. So, he set up the Omidyar Network, an organisation that invests in promising social enterprises.

Today, the Omidyar Network, sponsored by Pam and Pierre Omidyar has put in over USD 550 million in impact investments. The network operates with two cheque books, investing roughly half its corpus as grants to non-profit organisations, while the other half goes to early-stage social entrepreneurs whose businesses are perceived too risky by commercial investors. Omidyar set up shop in India in 2010 and has a portfolio of 27 organisations in which it has invested about USD 100 million. 70 percent of these are for-profit ventures.

Venture philanthropy, impact investing and flexible capitalism. These are some of the terms that have been used to describe the approach that Jayant Sinha, partner, Omidyar Network India Advisors and his team have taken to capital investments in the social sector. But Jayant likes to keep it simple. He believes social impact and financial returns are a means to an end. Jayant uses examples of two of his investee companies to explain how they operate - D Light, a solar lantern manufacturer and Tree House, India's largest self operated pre-school chain.

Sinha says, "The social impact cannot be an add-on it has got to be built into the value proposition. So, Tree House tracks the number of children that are in their preschools. That is an impact metric because we know if the child is in one of the Tree House preschools, he or she is going to get tremendous education and in doing so achieve social impact. 

Similarly for D Light. D Light makes solar lanterns. So, for every solar lantern they ship, they are actually substituting kerosene lanterns. They are reducing the cost of using kerosene, providing a much healthier alternative, and reducing the risk of fire. So, built into that solar lantern is already that social impact. You track solar lanterns, you are tracking social impact.

For someone who didn't know what LP (not sure) stood for in 2001 to managing four funds worth over  Rs 800 crore Vineet Rai, founder and CEO, Aavishkaar has come a long way on a very challenging road. One really must put this in context at a time when regular venture capitalists (VCs) were reluctant to make investments in purely commercial ventures in urban India, Vineet's mission is to create a fund to service enterprise in India's most rural areas.

Vineet survived the rough and tumble of impact investing because of his ability to take disproportionate risks and the capacity to be extremely patient, the virtue of which he learnt when he first began working for a Gujarat government-backed rural enterprise incubator in 1998.

Rai says, "My job was to go to the villages and help the innovators into converting their innovations into products and then into businesses. One of the key learnings I gained in that process is converting an innovation into a product, and a business requires an entrepreneur not an innovator as the lead. The entrepreneur is taking the risk and he requires risk capital in trying to build that business. The biggest challenge was not in finding the entrepreneur or helping the innovation to become a product, but providing that risk capital. That was my key learning out of the three, three and a half years I spent as incubator.

Aavishkaar is not very different. We are a venture capital fund. The only difference is that we are focused on rural India. We have made 38-39 investments till date. We are the first investor in almost 38 of them. So, 98 percent of the time we are the first investor. Almost 50 percent of the companies that we have invested in actually didn't exist, that means they started with our capital. More than 50 percent of our capital is deployed in the low-income stage. So, that could tell you that our capacity or appetite to go and take risks where returns are actually unexpected is very high.

20.07 | 0 komentar | Read More

How impact investing could affect biz in India

The Rockefeller Foundation reports that impact investing is set to grow at an annual pace of 30 percent. India is the second-largest market for impact investing after the US, with USD 500 million worth of investments made in 2012 alone. But what does this mean?

When Pierre Omidyar saw his networth cross a billion dollars in 1998 as Ebay listed on the capital markets, he knew he had to do more with his wealth that had come to him in just three years. So, he set up the Omidyar Network, an organisation that invests in promising social enterprises.

Today, the Omidyar Network, sponsored by Pam and Pierre Omidyar has put in over USD 550 million in impact investments. The network operates with two cheque books, investing roughly half its corpus as grants to non-profit organisations, while the other half goes to early-stage social entrepreneurs whose businesses are perceived too risky by commercial investors. Omidyar set up shop in India in 2010 and has a portfolio of 27 organisations in which it has invested about USD 100 million. 70 percent of these are for-profit ventures.

Venture philanthropy, impact investing and flexible capitalism. These are some of the terms that have been used to describe the approach that Jayant Sinha, partner, Omidyar Network India Advisors and his team have taken to capital investments in the social sector. But Jayant likes to keep it simple. He believes social impact and financial returns are a means to an end. Jayant uses examples of two of his investee companies to explain how they operate - D Light, a solar lantern manufacturer and Tree House, India's largest self operated pre-school chain.

Sinha says, "The social impact cannot be an add-on it has got to be built into the value proposition. So, Tree House tracks the number of children that are in their preschools. That is an impact metric because we know if the child is in one of the Tree House preschools, he or she is going to get tremendous education and in doing so achieve social impact. 

Similarly for D Light. D Light makes solar lanterns. So, for every solar lantern they ship, they are actually substituting kerosene lanterns. They are reducing the cost of using kerosene, providing a much healthier alternative, and reducing the risk of fire. So, built into that solar lantern is already that social impact. You track solar lanterns, you are tracking social impact.

For someone who didn't know what LP (not sure) stood for in 2001 to managing four funds worth over  Rs 800 crore Vineet Rai, founder and CEO, Aavishkaar has come a long way on a very challenging road. One really must put this in context at a time when regular venture capitalists (VCs) were reluctant to make investments in purely commercial ventures in urban India, Vineet's mission is to create a fund to service enterprise in India's most rural areas.

Vineet survived the rough and tumble of impact investing because of his ability to take disproportionate risks and the capacity to be extremely patient, the virtue of which he learnt when he first began working for a Gujarat government-backed rural enterprise incubator in 1998.

Rai says, "My job was to go to the villages and help the innovators into converting their innovations into products and then into businesses. One of the key learnings I gained in that process is converting an innovation into a product, and a business requires an entrepreneur not an innovator as the lead. The entrepreneur is taking the risk and he requires risk capital in trying to build that business. The biggest challenge was not in finding the entrepreneur or helping the innovation to become a product, but providing that risk capital. That was my key learning out of the three, three and a half years I spent as incubator.

Aavishkaar is not very different. We are a venture capital fund. The only difference is that we are focused on rural India. We have made 38-39 investments till date. We are the first investor in almost 38 of them. So, 98 percent of the time we are the first investor. Almost 50 percent of the companies that we have invested in actually didn't exist, that means they started with our capital. More than 50 percent of our capital is deployed in the low-income stage. So, that could tell you that our capacity or appetite to go and take risks where returns are actually unexpected is very high.

20.07 | 0 komentar | Read More

Indefinite curfew in Assam silk town Sualkuchi

Indefinite curfew was clamped after silk weavers observing a 12-hour bandh today defied prohibitory orders in this town in Kamrup (Rural) district protesting the use of artificial silk, official sources said. The police fired rubber bullets after a lathi-charge and teargas failed to quell the weavers who ransacked shops selling silk clothes and made bonfires of these on the road, they said. One person received injuries in the firing, they said.

The weavers, who converged on the main market in the morning, also demanded that the State Bank of India branch down its shutters, the sources said. The weavers alleged that artificial silk brought from other parts of the country for making the traditional Assamese attire was affecting them and the silk industry in the state. They also alleged that the silk clothes the shops were selling were not pure Assamese golden Muga Silk and white Paat Silk as the clothes burnt turned to ash unlike pure silk. The trouble began yesterday when the weavers set ablaze silk clothes, clashed with shopkeepers and threw stones at the police when they intervened injuring five of them. The local people, who reared silk worms and were employed in the weaving industry, have been on the warpath for some time against the use of artificial silk from outside by traders for preparing traditional attires as it was cheap and had a better finish than the local silk varieties. They claimed that local weavers, who used looms for weaving, were unemployed because of the machine-made products while silkworm rearing had become extinct due to the lack of market for the expensive silk. They also accused that the state government had assured to give Rs 100 crore for the survival of the Assam Paat and Muga silk industry facing stiff competition from artificial silk, but the funds were yet to be released.

20.07 | 0 komentar | Read More

Amazon to acquire book recommendations site Goodreads

Mar 30, 2013, 05.55 PM IST

Source: Tech2.com

Like this story, share it with millions of investors on M3

Amazon to acquire book recommendations site Goodreads

Know Goodreads? Well, Amazon today announced that it is in the process of acquiring it. Goodreads, ...

Like this story, share it with millions of investors on M3

Amazon to acquire book recommendations site Goodreads

Know Goodreads? Well, Amazon today announced that it is in the process of acquiring it. Goodreads, ...

  .   Share  .  Email  .  Print  .  A+A-

Know Goodreads? Well, Amazon today announced that it is in the process of acquiring it. Goodreads, the site for book recommendations, is where book lovers can find and share the books they love. While the terms of the acquisition were not made known, Russ Grandinetti, Amazon Vice President, Kindle Content, said, "Amazon and Goodreads share a passion for reinventing reading. Goodreads has helped change how we discover and discuss books and, with Kindle, Amazon has helped expand reading around the world. In addition, both Amazon and Goodreads have helped thousands of authors reach a wider audience and make a better living at their craft. Together we intend to build many new ways to delight readers and authors alike."

Click here for full story

20.07 | 0 komentar | Read More

Euro zone savings deposits are safe, says German minister

German Finance Minister Wolfgang Schaeuble has said savings accounts in the euro zone are safe, adding that Cyprus is a "special case" and not a template for future rescues.

In an interview with Bild newspaper published on Saturday, Schaeuble distanced himself from comments on Monday by Eurogroup chairman Jeroen Dijsselbloem, who said the rescue programme agreed for Cyprus - the first to impose a levy on bank deposits - would serve as a model for future crises.

"Cyprus is and will remain a special one-off case," Schaeuble said.

"The savings accounts in Europe are safe."

Schaeuble said the problem in Cyprus was that two large banks in Cyprus were in effect no longer solvent and the Cyprus government did not have enough money to guarantee savings.

"That's why the other euro zone countries had to help," he said. "Together in the Eurogroup we decided to have the owners and creditors take part in the costs of the rescue - in other words those who helped cause the crisis."

Schaeuble said he was confident Cyprus would be able to completely pay back the help. "Cyprus's economy will now go through a long and painful period of adjustment. But then it will pay back the loan when it is on a solid economic foundation."

Schaeuble said the euro was stronger today than at any time since 2010.

"Yes, you could see that during the Cyprus crisis," he said. "The entire turbulence did not have any impact on the other countries in Southern Europe."

He said it was different in early 2012, when elections in Greece caused interest rates across Southern Europe to rise.

"The financial markets have seen: we are better prepared now. We've accomplished quite a bit," Schaeuble said.

He said he was against thinking about individual countries leaving the euro zone. "What is more important is that we are strong enough to keep everyone in the boat," he said.

"I believe that we will one day read in the history books about this period that the crisis brought Europe even closer together," he said, adding the continent was currently enjoying "a very fortunate era".

20.07 | 0 komentar | Read More

Indefinite curfew in Assam silk town Sualkuchi

Indefinite curfew was clamped after silk weavers observing a 12-hour bandh today defied prohibitory orders in this town in Kamrup (Rural) district protesting the use of artificial silk, official sources said. The police fired rubber bullets after a lathi-charge and teargas failed to quell the weavers who ransacked shops selling silk clothes and made bonfires of these on the road, they said. One person received injuries in the firing, they said.

The weavers, who converged on the main market in the morning, also demanded that the State Bank of India branch down its shutters, the sources said. The weavers alleged that artificial silk brought from other parts of the country for making the traditional Assamese attire was affecting them and the silk industry in the state. They also alleged that the silk clothes the shops were selling were not pure Assamese golden Muga Silk and white Paat Silk as the clothes burnt turned to ash unlike pure silk. The trouble began yesterday when the weavers set ablaze silk clothes, clashed with shopkeepers and threw stones at the police when they intervened injuring five of them. The local people, who reared silk worms and were employed in the weaving industry, have been on the warpath for some time against the use of artificial silk from outside by traders for preparing traditional attires as it was cheap and had a better finish than the local silk varieties. They claimed that local weavers, who used looms for weaving, were unemployed because of the machine-made products while silkworm rearing had become extinct due to the lack of market for the expensive silk. They also accused that the state government had assured to give Rs 100 crore for the survival of the Assam Paat and Muga silk industry facing stiff competition from artificial silk, but the funds were yet to be released.

20.07 | 0 komentar | Read More

Amazon to acquire book recommendations site Goodreads

Mar 30, 2013, 05.55 PM IST

Source: Tech2.com

Like this story, share it with millions of investors on M3

Amazon to acquire book recommendations site Goodreads

Know Goodreads? Well, Amazon today announced that it is in the process of acquiring it. Goodreads, ...

Like this story, share it with millions of investors on M3

Amazon to acquire book recommendations site Goodreads

Know Goodreads? Well, Amazon today announced that it is in the process of acquiring it. Goodreads, ...

  .   Share  .  Email  .  Print  .  A+A-

Know Goodreads? Well, Amazon today announced that it is in the process of acquiring it. Goodreads, the site for book recommendations, is where book lovers can find and share the books they love. While the terms of the acquisition were not made known, Russ Grandinetti, Amazon Vice President, Kindle Content, said, "Amazon and Goodreads share a passion for reinventing reading. Goodreads has helped change how we discover and discuss books and, with Kindle, Amazon has helped expand reading around the world. In addition, both Amazon and Goodreads have helped thousands of authors reach a wider audience and make a better living at their craft. Together we intend to build many new ways to delight readers and authors alike."

Click here for full story

20.07 | 0 komentar | Read More

Euro zone savings deposits are safe, says German minister

German Finance Minister Wolfgang Schaeuble has said savings accounts in the euro zone are safe, adding that Cyprus is a "special case" and not a template for future rescues.

In an interview with Bild newspaper published on Saturday, Schaeuble distanced himself from comments on Monday by Eurogroup chairman Jeroen Dijsselbloem, who said the rescue programme agreed for Cyprus - the first to impose a levy on bank deposits - would serve as a model for future crises.

"Cyprus is and will remain a special one-off case," Schaeuble said.

"The savings accounts in Europe are safe."

Schaeuble said the problem in Cyprus was that two large banks in Cyprus were in effect no longer solvent and the Cyprus government did not have enough money to guarantee savings.

"That's why the other euro zone countries had to help," he said. "Together in the Eurogroup we decided to have the owners and creditors take part in the costs of the rescue - in other words those who helped cause the crisis."

Schaeuble said he was confident Cyprus would be able to completely pay back the help. "Cyprus's economy will now go through a long and painful period of adjustment. But then it will pay back the loan when it is on a solid economic foundation."

Schaeuble said the euro was stronger today than at any time since 2010.

"Yes, you could see that during the Cyprus crisis," he said. "The entire turbulence did not have any impact on the other countries in Southern Europe."

He said it was different in early 2012, when elections in Greece caused interest rates across Southern Europe to rise.

"The financial markets have seen: we are better prepared now. We've accomplished quite a bit," Schaeuble said.

He said he was against thinking about individual countries leaving the euro zone. "What is more important is that we are strong enough to keep everyone in the boat," he said.

"I believe that we will one day read in the history books about this period that the crisis brought Europe even closer together," he said, adding the continent was currently enjoying "a very fortunate era".

20.07 | 0 komentar | Read More

How impact investing could affect biz in India

The Rockefeller Foundation reports that impact investing is set to grow at an annual pace of 30 percent. India is the second-largest market for impact investing after the US, with USD 500 million worth of investments made in 2012 alone. But what does this mean?

When Pierre Omidyar saw his networth cross a billion dollars in 1998 as Ebay listed on the capital markets, he knew he had to do more with his wealth that had come to him in just three years. So, he set up the Omidyar Network, an organisation that invests in promising social enterprises.

Today, the Omidyar Network, sponsored by Pam and Pierre Omidyar has put in over USD 550 million in impact investments. The network operates with two cheque books, investing roughly half its corpus as grants to non-profit organisations, while the other half goes to early-stage social entrepreneurs whose businesses are perceived too risky by commercial investors. Omidyar set up shop in India in 2010 and has a portfolio of 27 organisations in which it has invested about USD 100 million. 70 percent of these are for-profit ventures.

Venture philanthropy, impact investing and flexible capitalism. These are some of the terms that have been used to describe the approach that Jayant Sinha, partner, Omidyar Network India Advisors and his team have taken to capital investments in the social sector. But Jayant likes to keep it simple. He believes social impact and financial returns are a means to an end. Jayant uses examples of two of his investee companies to explain how they operate - D Light, a solar lantern manufacturer and Tree House, India's largest self operated pre-school chain.

Sinha says, "The social impact cannot be an add-on it has got to be built into the value proposition. So, Tree House tracks the number of children that are in their preschools. That is an impact metric because we know if the child is in one of the Tree House preschools, he or she is going to get tremendous education and in doing so achieve social impact. 

Similarly for D Light. D Light makes solar lanterns. So, for every solar lantern they ship, they are actually substituting kerosene lanterns. They are reducing the cost of using kerosene, providing a much healthier alternative, and reducing the risk of fire. So, built into that solar lantern is already that social impact. You track solar lanterns, you are tracking social impact.

For someone who didn't know what LP (not sure) stood for in 2001 to managing four funds worth over  Rs 800 crore Vineet Rai, founder and CEO, Aavishkaar has come a long way on a very challenging road. One really must put this in context at a time when regular venture capitalists (VCs) were reluctant to make investments in purely commercial ventures in urban India, Vineet's mission is to create a fund to service enterprise in India's most rural areas.

Vineet survived the rough and tumble of impact investing because of his ability to take disproportionate risks and the capacity to be extremely patient, the virtue of which he learnt when he first began working for a Gujarat government-backed rural enterprise incubator in 1998.

Rai says, "My job was to go to the villages and help the innovators into converting their innovations into products and then into businesses. One of the key learnings I gained in that process is converting an innovation into a product, and a business requires an entrepreneur not an innovator as the lead. The entrepreneur is taking the risk and he requires risk capital in trying to build that business. The biggest challenge was not in finding the entrepreneur or helping the innovation to become a product, but providing that risk capital. That was my key learning out of the three, three and a half years I spent as incubator.

Aavishkaar is not very different. We are a venture capital fund. The only difference is that we are focused on rural India. We have made 38-39 investments till date. We are the first investor in almost 38 of them. So, 98 percent of the time we are the first investor. Almost 50 percent of the companies that we have invested in actually didn't exist, that means they started with our capital. More than 50 percent of our capital is deployed in the low-income stage. So, that could tell you that our capacity or appetite to go and take risks where returns are actually unexpected is very high.

20.07 | 0 komentar | Read More

Indian ADRs: Tata Comm up 5.2%, ICICI Bank up 4.2%

Indian ADRs ended higher on Thursday. In the IT space, Wipro was up 2.96% at USD 10.1 and Infosys was up 2.24% at USD 53.91.

 

In the Banking space, ICICI Bank was up 4.23% at USD 42.9 and HDFC Bank was up 1.68% at USD 37.42. In the Telecom space, Tata Communication was up 5.25% at USD 8.22.

 

In the other space, Dr Reddys was up 0.4% at USD 32.35, Sterlite was up 2.2% at USD 6.98, while Tata Motors was down 3.13% at USD 24.41.

20.07 | 0 komentar | Read More

Indian ADRs: Tata Comm up 5.2%, ICICI Bank up 4.2%

Indian ADRs ended higher on Thursday. In the IT space, Wipro was up 2.96% at USD 10.1 and Infosys was up 2.24% at USD 53.91.

 

In the Banking space, ICICI Bank was up 4.23% at USD 42.9 and HDFC Bank was up 1.68% at USD 37.42. In the Telecom space, Tata Communication was up 5.25% at USD 8.22.

 

In the other space, Dr Reddys was up 0.4% at USD 32.35, Sterlite was up 2.2% at USD 6.98, while Tata Motors was down 3.13% at USD 24.41.

20.07 | 0 komentar | Read More

download4u's March Madness sale brings Dark Souls, Need for Speed: Most Wanted at discounts

Mar 29, 2013, 10.55 AM IST

Source: Tech2.com

Like this story, share it with millions of investors on M3

download4u's March Madness sale brings Dark Souls, Need for Speed: Most Wanted at discounts

The headlining game for today is the unforgiven open-world RPG Dark Souls at a 30 percent discount, bringing its price down from Rs 1,499 to Rs 1,259.

Like this story, share it with millions of investors on M3

download4u's March Madness sale brings Dark Souls, Need for Speed: Most Wanted at discounts

The headlining game for today is the unforgiven open-world RPG Dark Souls at a 30 percent discount, bringing its price down from Rs 1,499 to Rs 1,259.

  .   Share  .  Email  .  Print  .  A+A-

Day eight of download4u's March Madness sale is upon us, and this means new games on discount. The headlining game for today is the unforgiven open-world RPG Dark Souls at a 30 percent discount, bringing its price down from Rs 1,499 to Rs 1,259. Alongside Dark Souls, there are two Star Wars games up for grabs—strategy game Star Wars: Empire at War at a 40 percent discount, bringing its price down from Rs 699 to Rs 419, and third person action game Star Wars: The Force Unleashed at a 50 percent discount, which brings its price down from Rs 499 to Rs 249.There is also Obsidian's hack-and-slash RPG Dungeon Siege III at a 40 percent discount, bringing its price down from Rs 499 to Rs 299, and Need for Speed: Most Wanted is making a comeback in the sale at a discount of 40 percent, bringing its price down from Rs 1,799 to Rs 1,259. Other games up for grabs include Dead Block and Public Enemies: Bonnie & Clyde at discounts of 40 percent, which brings their prices down from Rs 99 to Rs 89 each, and Iron Storm at a 20 percent discount, bringing its price down from Rs 99 to Rs 79.

Click here for full story

Tags: Dark Souls, Dark Souls PC, Dark Souls Prepare To Die Edition, Need for Speed, Need for Speed Most Wanted, Dungeon Siege, Dungeon Siege III, Ridge Racer, Ridge Racer Unbounded, Call of Duty, Hitman Absolution, Hitman, Duke Nukem, Duke Nukem Forever, Company of Heroes, Mac, Mac Gaming, Mac Games

20.07 | 0 komentar | Read More

SP 500 ends at record closing high

The S&P 500 set a record closing high on Thursday, finishing a fifth consecutive month of gains to extend a four-year rally.

The S&P had hovered near its record for more than two weeks, and market action next week will help determine if this is just another stepping stone for the rally, or if a long-expected pullback is in the offing.

The benchmark S&P 500 closed its strongest quarter in a year, up 10 percent. The Dow climbed 11.3 percent and the Nasdaq gained 8.2 percent for the first three months of the year.

The new closing high "is a very appropriate punctuation for a great quarter that saw a lot of last year's anxieties recede," said Bruce McCain, chief investment strategist at Key Private Bank in Cleveland.

"However, this could be the start to a more realistic look at the problems that still haven't gone away. Some degree of caution is probably still merited, with the problems in Cyprus probably only the beginning to what we could see in coming months."

The rally hit a wall in the last two weeks as the latest chapter in the euro-zone crisis developed, with Cyprus nearing a default and a possible exit from the euro bloc.

The S&P 500 had been in a fairly tight range, having traded within 10 points of the October 9, 2007, record closing high of 1,565.15 over the previous 13 sessions.

After the closing bell on Thursday, the S&P 500 gained 6.34 points, or 0.41 percent, to end at a new record of 1,569.19.

The Dow industrials, which have been setting a series of record highs since March 5, ended Thursday's session at yet another nominal closing high - ending above 14,578. The Dow also hit a lifetime intraday high on Thursday at 14,585.10

The Dow Jones industrial average rose 52.38 points, 0.36 percent, to finish at 14,578.54, and the Nasdaq Composite added 11 points, or 0.34 percent, to 3,267.52.

The gains in the three first months of the year have a very bullish history. An analysis by Ryan Detrick, senior technical strategist at Schaeffer's Investment Research in Cincinnati, showed the S&P 500 has risen in the three first months of the year nine times in the past 30 years, and in each case, it has posted gains for the year.

The average yearly gain after such a start, the data showed, was 17.56 percent. An advance like that would leave the S&P 500 at about 1,676 at the end of this year.

"The key is the follow-through," said Quincy Krosby, market strategist at Prudential Financial in Newark, New Jersey.

"It will be very important how the market handles next week's data."

Key manufacturing numbers are expected on Monday and factory orders Tuesday, building up to Friday's widely followed payrolls report.

During March, the Dow gained 3.7 percent, the S&P 500 rose 3.6 percent and the Nasdaq added 3.4 percent.

Thursday marked the end of the trading week. US stock markets will be closed on Friday because of the Good Friday holiday.

Data showed the number of Americans filing new claims for unemployment benefits rose more than expected last week, but probably not enough to suggest a faltering in the labor market's recovery. Other data showed the economy expanded more in the fourth quarter than was previously estimated by the government.

Volume was lighter than average with some market participants absent for the observance of Passover or to get an early start on the long Easter weekend.

About 5.7 billion shares changed hands on the New York Stock Exchange, the Nasdaq and NYSE MKT, below the daily average so far this year of about 6.4 billion shares.

On the NYSE, advancers outnumbered decliners by a ratio of roughly 8 to 5. On the Nasdaq, 14 stocks rose for every 11 that fell.

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SP 500 ends at record closing high

The S&P 500 set a record closing high on Thursday, finishing a fifth consecutive month of gains to extend a four-year rally.

The S&P had hovered near its record for more than two weeks, and market action next week will help determine if this is just another stepping stone for the rally, or if a long-expected pullback is in the offing.

The benchmark S&P 500 closed its strongest quarter in a year, up 10 percent. The Dow climbed 11.3 percent and the Nasdaq gained 8.2 percent for the first three months of the year.

The new closing high "is a very appropriate punctuation for a great quarter that saw a lot of last year's anxieties recede," said Bruce McCain, chief investment strategist at Key Private Bank in Cleveland.

"However, this could be the start to a more realistic look at the problems that still haven't gone away. Some degree of caution is probably still merited, with the problems in Cyprus probably only the beginning to what we could see in coming months."

The rally hit a wall in the last two weeks as the latest chapter in the euro-zone crisis developed, with Cyprus nearing a default and a possible exit from the euro bloc.

The S&P 500 had been in a fairly tight range, having traded within 10 points of the October 9, 2007, record closing high of 1,565.15 over the previous 13 sessions.

After the closing bell on Thursday, the S&P 500 gained 6.34 points, or 0.41 percent, to end at a new record of 1,569.19.

The Dow industrials, which have been setting a series of record highs since March 5, ended Thursday's session at yet another nominal closing high - ending above 14,578. The Dow also hit a lifetime intraday high on Thursday at 14,585.10

The Dow Jones industrial average rose 52.38 points, 0.36 percent, to finish at 14,578.54, and the Nasdaq Composite added 11 points, or 0.34 percent, to 3,267.52.

The gains in the three first months of the year have a very bullish history. An analysis by Ryan Detrick, senior technical strategist at Schaeffer's Investment Research in Cincinnati, showed the S&P 500 has risen in the three first months of the year nine times in the past 30 years, and in each case, it has posted gains for the year.

The average yearly gain after such a start, the data showed, was 17.56 percent. An advance like that would leave the S&P 500 at about 1,676 at the end of this year.

"The key is the follow-through," said Quincy Krosby, market strategist at Prudential Financial in Newark, New Jersey.

"It will be very important how the market handles next week's data."

Key manufacturing numbers are expected on Monday and factory orders Tuesday, building up to Friday's widely followed payrolls report.

During March, the Dow gained 3.7 percent, the S&P 500 rose 3.6 percent and the Nasdaq added 3.4 percent.

Thursday marked the end of the trading week. US stock markets will be closed on Friday because of the Good Friday holiday.

Data showed the number of Americans filing new claims for unemployment benefits rose more than expected last week, but probably not enough to suggest a faltering in the labor market's recovery. Other data showed the economy expanded more in the fourth quarter than was previously estimated by the government.

Volume was lighter than average with some market participants absent for the observance of Passover or to get an early start on the long Easter weekend.

About 5.7 billion shares changed hands on the New York Stock Exchange, the Nasdaq and NYSE MKT, below the daily average so far this year of about 6.4 billion shares.

On the NYSE, advancers outnumbered decliners by a ratio of roughly 8 to 5. On the Nasdaq, 14 stocks rose for every 11 that fell.

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Asia trading mixed; Shanghai Composite up, Nikkei flat

At 8: 52 am (IST), Asian markets were trading mixed. China's Shanghai Composite was up 0.37% or 8.27 points at 2,244.57.

Japan's Nikkei was flat at 12,331.44.

South Korea's Seoul Composite gained 0.67% or 13.45 points at 2,006.97. 

Taiwan's Taiwan Weighted rose 0.29% or 22.55 points at 7,889.43.

Straits Times and Hang Seng shut today.

20.07 | 0 komentar | Read More

Asia trading mixed; Shanghai Composite up, Nikkei flat

At 8: 52 am (IST), Asian markets were trading mixed. China's Shanghai Composite was up 0.37% or 8.27 points at 2,244.57.

Japan's Nikkei was flat at 12,331.44.

South Korea's Seoul Composite gained 0.67% or 13.45 points at 2,006.97. 

Taiwan's Taiwan Weighted rose 0.29% or 22.55 points at 7,889.43.

Straits Times and Hang Seng shut today.

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download4u's March Madness sale brings Dark Souls, Need for Speed: Most Wanted at discounts

Mar 29, 2013, 10.55 AM IST

Source: Tech2.com

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download4u's March Madness sale brings Dark Souls, Need for Speed: Most Wanted at discounts

The headlining game for today is the unforgiven open-world RPG Dark Souls at a 30 percent discount, bringing its price down from Rs 1,499 to Rs 1,259.

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download4u's March Madness sale brings Dark Souls, Need for Speed: Most Wanted at discounts

The headlining game for today is the unforgiven open-world RPG Dark Souls at a 30 percent discount, bringing its price down from Rs 1,499 to Rs 1,259.

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Day eight of download4u's March Madness sale is upon us, and this means new games on discount. The headlining game for today is the unforgiven open-world RPG Dark Souls at a 30 percent discount, bringing its price down from Rs 1,499 to Rs 1,259. Alongside Dark Souls, there are two Star Wars games up for grabs—strategy game Star Wars: Empire at War at a 40 percent discount, bringing its price down from Rs 699 to Rs 419, and third person action game Star Wars: The Force Unleashed at a 50 percent discount, which brings its price down from Rs 499 to Rs 249.There is also Obsidian's hack-and-slash RPG Dungeon Siege III at a 40 percent discount, bringing its price down from Rs 499 to Rs 299, and Need for Speed: Most Wanted is making a comeback in the sale at a discount of 40 percent, bringing its price down from Rs 1,799 to Rs 1,259. Other games up for grabs include Dead Block and Public Enemies: Bonnie & Clyde at discounts of 40 percent, which brings their prices down from Rs 99 to Rs 89 each, and Iron Storm at a 20 percent discount, bringing its price down from Rs 99 to Rs 79.

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Tags: Dark Souls, Dark Souls PC, Dark Souls Prepare To Die Edition, Need for Speed, Need for Speed Most Wanted, Dungeon Siege, Dungeon Siege III, Ridge Racer, Ridge Racer Unbounded, Call of Duty, Hitman Absolution, Hitman, Duke Nukem, Duke Nukem Forever, Company of Heroes, Mac, Mac Gaming, Mac Games

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Sony about to unleash four new Android smartphones later this year

Mar 28, 2013, 06.25 PM IST

Source: Tech2.com

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Sony about to unleash four new Android smartphones later this year

Sony has been on quite a roll. At least as far as mobile phone launches are concerned. This year alone, five handsets in different segments have been launched

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Sony about to unleash four new Android smartphones later this year

Sony has been on quite a roll. At least as far as mobile phone launches are concerned. This year alone, five handsets in different segments have been launched

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Sony has been on quite a roll. At least as far as mobile phone launches are concerned. This year alone, five handsets in different segments have been launched by the company. These range from the high-end Xperia Z and ZL to the mid-range Xperia SP to the low-tier Xperia E and Xperia L. But it seems the company is not stopping at just these five. Separate leaks today point at four other Sony handsets in the work. The first rumour comes from Japan in the form of a Smasoku report, which is based on a leaked roadmap for Sony devices.

Click here for full story

Tags: Sony Xperia, Xperia A rumours, Xperia A specs, Xperia A features, Xperia A launch, Xperia A price, Xperia A launch in India, Xperia A summer launch, Xperia UL, Xperia UL rumours, Xperia UL specs, Xperia UL leaks, Xperia UL features, Xperia UL launch, Xperia UL launch date, Xperia UL price, Xperia UL price in India, Xperia UL launch in India, Sony Togari, Togari specs, Togari rumours, Togari leaks, Togari launch, Togari phablet, Togari price, Togari launch in India, Sony MediaTek phone, Mt6589 Sony phone

20.07 | 0 komentar | Read More

Sky high Q3 current account deficit: What you need to know

Moneycontrol Bureau

India's current account deficit for October-December climbed to a record high of USD 32.6 billion , or roughly 6.7 percent of the GDP, compared to 5.4 percent during the July-September quarter. In a nutshell, this means that more foreign exchange is flowing out of the country than that coming into the country.

Here are a few things you need to know about the current account deficit:

When does a country run a current account deficit?

This happens when a country's total imports of goods, services and transfers exceed its total export of goods, services and transfers.

Is current account deficit always a bad thing?

It is not a bad thing if the country's economy is growing at a steady rate. Import bills are higher when the economy is growing.

Why is India's current account deficit widening at a rapid rate?

A combination of factors. Exports are slowing because of the sluggish global economy. Imports of oil and gold have been quite high (though gold imports have moderated somewhat because of duty restrictions). Also, the October-December CAD was aggravated by a steep drop in foreign direct investment, and decline in remittances, i.e money sent by Indians residing abroad.

How can the current account deficit be financed?

So far, India has been financing it through foreign capital flows; portfolio investments (investments into Indian equities and debt) and foreign direct investment (FDI).

Is this a sustainable solution?

Not really. Foreign money flows into equities can be quite volatile; overseas investors can withdraw their funds in a flash. Also, attracting huge foreign investments into Indian debt is also not a great idea. Because you need to pay interest on those investments. And that in turn will cause further outflow of foreign exchange.

So what is the way out?

There are no easy solutions. But the government will have to work on a long term policy measures to encourage exports, attract more FDI (which is a far more stable form of foreign capital), lower oil imports (by cutting fuel subsidy and discouraging consumption), and decrease import of gold.

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Telecom biz sunny post licence-cancellation cloud: Secy

Telecom secretary R Chandrashekhar, who is to retire on March 31 after a two-and-a-half- year long stint as the secretary of India's most controversial sector told CNBC-TV18's Malvika Jain that after investor confidence was adversely affected post cancellation of licences by the Supreme Court, the business environment in the sector has improved.

"There were a number of challenges that had to be addressed such as uncertainty about the continuance of a large number of operators prior to the Supreme Court judgement of 2012."

"This was followed by uncertainty regarding the overall policy framework, how spectrum would be priced and to the licensing regime. And these uncertainties impacted fresh investments. However, the Supreme Court's judgment in 2012 and the subsequent events in my assessment significantly crystallised the entire policy environment."

On whether the government had not adequately supported the telecom ministry, Chandrashekhar added, "I am not sure whether everybody would argue with you that it is the government's job to fight court cases on behalf of companies or keeping the interest of companies in mind."

The soon-to-retire telecom secretary throws light on the reasons for allocating spectrum at lower prices, "In these matters people may have different opinions and in many cases the opinions have varied over time as events unfolded. What was a fashionable opinion at one point in time may actually fade and move onto a different perspective later."

"The fact is that in the course of these proceedings the government took into consideration the entire history of decision-making in the sector as well as all the various perspectives before taking the particular decisions."

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Emerging mkt issuers raise $301.4bn via debt secs: Dealogic

Emerging market (EM) economies, including India, have raised USD 301.4 billion through debt securities so far this year, registering a marginal rise of four per cent from the year-ago period.

According to global dealtracking firm Dealogic, emerging market DCM (debt capital market) volume has reached a record USD 301.4 billion in 2013 year-to-date (Y-T-D), up 4 per cent from USD 290.5 billion recorded in the corresponding period a year ago.

Also read: JPMorgan AMC to remain overweight on emerging markets

In contrast, total DCM volume from developed countries has seen a 16 per cent decline year-on-year to USD 1.38 trillion so far this year over the corresponding period a year-ago, Dealogic said.

While the emerging market DCM volume reached a highest year-to-date record, for developed markets, the DCM volume so far this year was the lowest since 2008.

Moreover, emerging market issuers also account for bigger slice of the global DCM volume. So far this year, they account for a 18 per cent of global debt issuance which stood at USD 1.68 trillion in 2013.

Last year emerging market issuers had a 15 per cent share in all global market debt issuance. "Corporate bonds lead emerging market DCM volume with a record USD 198.6 billion in 2013 Y-T-D, up 31 per cent from the same 2012 period (USD 151.8 billion)," Dealogic said.

In terms of DCM bookrunner rankings, HSBC leads the emerging market bookrunner ranking in 2013 so far this year with a 5.6 per cent market share, followed by Citi and JPMorgan with shares of 4.3 per cent and 3.8 per cent,

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NLC invites bids to buy coal mines overseas

State-owned Nevyeli Lignite Corporation (NLC) has invited bids from global firms to acquire coal assets overseas for providing fuel security to its thermal power plants.

"NLC intends to secure its thermal coal-requirement by acquiring coal blocks abroad, by entering into-long term coal supply agreement, by forming joint venture with coal mining companies, by acquiring equity stakes in coal mining companies," says the tender document of the company.

The state-owned firm has proposals for growth in power generation capacity and is expanding its activities not only at Neyveli, but also in other parts of the country.

It has entered into a JV with Uttar Pradesh to set up a 1,980 MW power station at Ghatampur, and the project is moving fast into the execution phase. NLC also has a proposal to establish a power plant with a capacity of 4,000 MW at Sirkali in Tamil Nadu. It is also planning to bid for ultra mega power projects (UMPP) of 4,000 MW under tariff based competitive bidding and other power Projects.

The company's coal requirement is likely to shoot up to 10 million tonnes per annum (MTPA) once all the projects are commissioned. The 'Navratna' firm operates four mines with a tota capacity 30.6 MTPA, and four thermal power stations of total capacity of 2,740 MW.

It is executing lignite-based projects such as the New Neyveli Thermal Power Station. Besides, NLC is implementing a 1,000 MW coal-based Thermal Power Project, NLC Tamil Nadu Power Ltd at Tuticorin.

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Italy minister resigns over marines' return to India

Italian foreign minister Giulio Terzi declared on Tuesday that he was resigning because he did not agree with last week's decision to send two marines back to India to face trial for murder.

"I can no longer be part of this government and I announce my resignation," Terzi said during testimony to the lower house of parliament. "My reservations about sending the marines back to India were not listened to."

Mario Monti's caretaker government on Friday reversed a March 11 decision not to send the marines back to face trial for the murder of two Indian fisherman during anti-piracy duty on a commercial tanker in February 2012.

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Asian shares, euro steady after US data

Asian shares and the euro steadied on Wednesday as positive US data pointed to a continuing moderate recovery in the economy, offsetting uncertainties from the Cyprus bank bailout scheme which inflicts severe losses on wealthier depositors.

Data on Tuesday showed demand for US-made durable goods surged in February, suggesting factory activity continued to expand.

US single-family home prices started the year with the biggest annual increase since June 2006, according to a separate report.

The Conference Board industry group, however, said consumer confidence tumbled in March as Americans turned more pessimistic about short-term economic prospects, but stock markets focused on the good news, taking the Dow Jones industrial average to a record closing high and the Standard & Poor's 500 Index to just below a record closing peak.

"An increase in durable goods shipments raised our tracking estimate for Q1 GDP by one-tenth to 2.6 percent, while strength in underlying orders points to further gains in shipments in coming months," Barclays Capital said in a research.

The MSCI's broadest index of Asia-Pacific shares outside Japan was steady, underpinned by a 0.2 percent rise in Australian shares on the back of gains in blue chip miners and financials on strong resource prices.

South Korean shares opened up 0.4 percent.

"The local index is expected to extend gains from the last two sessions as positive US data fuels optimism," said Lee Seon-yeop, an analyst at Shinhan Investment Corp, of Seoul shares.

Japan's Nikkei stock average opened nearly flat.

The Cyprus rescue scheme averted an imminent banking collapse but the measure requiring bank bondholders and large depositors to take heavy losses raised concerns, notably the risk of this model being used in the future and spurring a run on banks in other euro zone countries with much larger banking systems than Cyprus's.

The island state is expected to complete capital control measures on Wednesday to prevent a run on the banks by depositors anxious about their savings after the country agreed a painful rescue package with international lenders.

The euro steadied at USD 1.2858, hovering near a four-month low of USD 1.2828 touched on Tuesday, and capped by its 200-day moving average of around USD 1.2880. The euro closed below the key technical level on Monday for the first time since November.

Revived pressure on the euro kept the dollar index, measured against a basket of major currencies, not far from a 7-1/2-month peak of 83.166 set earlier this month.

Against the yen, the dollar was up 0.2 percent to 94.60.

US crude futures eased 0.2 percent to USD 96.16 a barrel.

Spot gold was up 0.1 percent around USD 1,600 an ounce, barely holding above its 14-day moving average.

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Data lifts Dow to a record, SP near record close

Stocks rallied on Tuesday, with the Dow climbing more than 100 points to another record close and the S&P 500 coming within striking distance of its all-time closing high, as strong data on home prices and manufacturing fed optimism about the economy.

The Dow Jones industrial average initially surpassed its 2007 record closing high on March 5. Since then, the Dow has reached a series of subsequent nominal record highs.

In Tuesday's session, the S&P 500 made yet another attempt at a record, but failed to break above the all-time closing high for the second day this week.

At Tuesday's close, the S&P 500 was only 1.38 points below its lifetime closing high. On Monday, the benchmark index traded just a quarter point below its record closing high, which stands at 1,565.15 set on October 9, 2007, and then retreated as investors sold some equities to cash in on gains in the wake of the news out of Europe.

Data showed US single-family home prices rose in January at the fastest pace in more than six years, while long-lasting US manufactured goods, also known as durable goods orders, shot up in February.

"I think the batch of data was enough to convince investors that the US economy is on the right track," said Andrew Wilkinson, chief economic strategist at Miller Tabak & Co, in New York.

"At this point, it's hard to argue that anything will derail the US economy, and that is boosting investors' confidence as they continue to load up on equities."

Still, investors may look for reasons to take profits, with the S&P 500 up nearly 10 percent so far this year. The rally has lifted the benchmark index near its all-time closing high, which it nearly reached on Monday.

The Dow Jones industrial average rose 111.90 points, or 0.77 percent, to end at 14,559.65, a record closing high. The Standard & Poor's 500 Index gained 12.08 points, or 0.78 percent, to finish at 1,563.77. The Nasdaq Composite Index advanced 17.18 points, or 0.53 percent, to close at 3,252.48.

The semiconductor index climbed 0.9 percent, buoyed by Intel Corp shares, up 2.9 percent at USD 21.77.

The CBOE Volatility Index or VIX, Wall Street's favorite barometer of investor anxiety, fell 7.1 percent to close at 12.77.

In a sign that growth continues to be slow, sales of new US single-family homes fell more than expected in February, and the latest reading on consumer confidence was weaker than expected.

Shares of homebuilding stocks were mixed. Lennar Corp stock rose 0.4 percent to USD 41.72, but Hovnanian Enterprises shares slid 3.1 percent to USD 5.87.

But investors remained concerned about the negative implications of a financial rescue plan for Cyprus. They worried that it would serve as a template for other euro-zone economies requiring bailouts.

Banks in Cyprus will remain closed until Thursday and will then be subject to capital controls to prevent a run on deposits. President Nicos Anastasiades said late on Monday that a 10-billion-euro (USD 13 billion) rescue plan approved over the weekend was "painful" but essential to avoid economic meltdown.

"If there's a run on deposits, there may be a selloff (in US stocks), but that could pose an excellent entry point to get into the market and take advantage of this rally," said Todd Schoenberger, managing partner at LandColt Capital, in New York.

In US corporate news, Monsanto Co and DuPont Co settled a legal battle over rights to technology for genetically modified seeds. The companies agreed to drop antitrust and patent lawsuits against each other in US federal court. Monsanto shares rose 4.4 percent to USD 103.79. DuPont, a Dow component, shed 0.3 percent to USD 48.97.

Netflix Inc was the S&P 500's top percentage gainer, jumping 5.4 percent to USD 190.61 after Pacific Crest raised its price target on the stock to USD 225 from USD 160, citing prospects for international subscriber growth.

Michael Dell's USD 24.4 billion buyout bid for Dell Inc could be derailed after billionaire Carl Icahn opened the door to an alliance with Blackstone Group LP to take control of the computer maker from its founder. Dell dipped 0.1 percent to USD 14.50.

In Tuesday's session, volume was lighter than usual with some market participants absent for the observance of the Jewish holiday of Passover.

Volume was roughly 5.2 billion shares traded on the New York Stock Exchange, the Nasdaq and the NYSE MKT, compared with the 2012 average daily closing volume of about 6.45 billion.

Advancers outnumbered decliners on the New York Stock Exchange by a ratio of about 7 to 3. On the Nasdaq, seven stocks rose for every five that fell.

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Yes Bank floats 100% subsidiary co, eyes acquisition

Saikat Das
moneycontrol.com

Private sector lender Yes Bank has constituted a 100% subsidiary company Yes Securities India Ltd to kick start its brokerage business by August-September, 2013. According to Jaideep Iyer, senior president financial management, the lender is also considering the acquisition of a small broking firm. The exercise is seen as a part of building customers base before it finally launches home loan products.

"This is a good situation. We are offering 6-7% rate of interest in savings account and you are getting a demat account from the bank. Now, you will get our brokerage services. This is a 3-in-1 service (in line with HDFC Bank or ICICI Bank). It will be a low cost and web-based model. If we acquire something, we can migrate them into Yes Bank customers," he told moneycontrol.com.

It is learnt that the bank may have already recruited top three executives for the broking arm. It is in talks with two or three small time brokerages. However, nothing concrete has come out yet.  moneycontrol.com could not independently identify those brokerage names.

The business planning is still under process. The prime focus will be on retail customers, not institutional ones. However, they may look for margin funding as well. Margin funding is the process wherein an investor parks part of the money needed to buy a stock and the rest is paid by the lender. Typically, brokerages allow margin funding facility to their best customers.

Why brokerage in a gloomy economy?

In general, the brokerage industry is now down in the dumps. What actually prompts Yes Bank to get into this platform is to expand its customer base for the whole gamut of product kitty. For the bank, broking is not going to be a big bang affair. The bank will not set up too many offices for broking business exclusively.

"We will initially use our bank branch network to expand it. It will save our operating costs.  We are working out a mechanism wherein brokerage will have to depend on bank's customer base. The standalone brokerage model is extremely difficult," Iyer said.

In the October-December quarter, Yes Bank's net profit shot up 33% to Rs 428 crore on a lower base. Non-interest income rose spurted more than 48% year-on-year to Rs 313 crore.

Yes Bank shares rose more than 19% as against nearly 11% rise in Nifty Bankex, the broader index for banking stocks.

saikat.das@network18online.com

 

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SP Tulsian picks 5 midcap ideas for 2013

On CNBC-TV18's Investor camp, SP Tulsian of sptulsian.com picked five stocks from the midcap space which should be on investor's radar in 2013.

Below is the edited transcript SP Tulsian's comments

The carnage seen in midcap stocks in the last couple of months has scared investors. Yes Bank , Zee Entertainment , Apollo Hospital , Tata Global and MCX are five midcap stocks which one can consider for 2013 or March 2014, till elections are being announced. These stocks are likely to get migrated to the largecap category in next 5-15 years.

Also Read: Holi Special: 4 stocks to colour your portfolio green

I have chosen stcoks from banking, financial services, healthcare services, media and FMCG sector. If the economy has to grow with a normal pace of around 5-5.5 percent then banks and financial services are expected to grow by 2.5 times in terms of the asset balance sheet. Similarly we are seeing demand coming in FMCG and health services. Media will do well because we all need entertainment.

These stocks get corrected whenever there is news flow, quarterly results or any developments on political front or global factors. Even if one is buying them from a long term perspective, one can expect get return of 5-6 percent in two-three months, keep booking profits because we amy get them again at a lower level. If not at 5-6 percent lower, then maybe at 2-3 percent.

Yes Bank is the fourth largest private sector bank. There is confidence with respect to their corporate governance. The bank is likely to see earnings per share (EPS) of Rs 35-36 for FY13. They are consistently posting growth of 18-20 percent in topline.

Zee Entertainment has 32 channels in India, 24 channels globally. It has a top line of Rs 2,500 crore, half of that is coming in from subscription and half from ad revenue.

Apollo Hospital is the leader in the healthcare industry. They have corporatised the concept of healthcare services. Tata Global is a global leader in tea and coffee. They have presence in US, Canada, Europe, Australia, India. MCX is the leader in commodity trading with 85 percent market share.

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Madras HC adjourns bulk diesel price case to Thursday

The Madras High Court had passed an interim order banning oil marketing companies from selling bulk diesel at market rates to the state owned transport companies.

The government (Centre) had appealed in the Madras High Court against the stay and the case was heard on Tuesday. The arguments continued for the second day and the case has been adjourned till Thursday, reports CNBC-TV18's Swathi Narayanan.

After all the arguments were over, the Madras High Court asked the Centre if they would accept bank guarantees for the difference in price from the date on which the interim order was passed till this entire matter has been heard completely.

Also read: TN Govt asks GAIL to stop laying of pipeline on agri land

From January 2013 bulk consumers are being charged market price and the Tamil Nadu government is against this so it has filed an appeal in the Madras High Court.

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Bharti Airtel arm raises USD 500 mn, shares soar 3%

Country's largest telecom operator Bharti Airtel gained more than 3 percent on Tuesday after its subsidiary Bharti Airtel International (Netherlands) BV raised USD 500 million notes (additional notes).

The company says it is in addition to the recently concluded transaction of USD 1,000 million 5.125 percent fixed rate senior unsecured guaranteed notes due 2023.

Additional notes issued at a premium and priced at 100.625 percent to yield 5.044 percent will be consolidated and formed in a single series along with the USD 1,000 million 5.125 percent guaranteed senior notes issued on March 11, 2013.

This is the largest ever telecom transaction out of Asia ex-Japan. "High participation by fund managers for an Indian Issuance and real money investor participation of 77% demonstrates the superior quality of the order book and the confidence the global investors have in the fundamentals and credit of the company," Harjeet Kohli, group treasurer of Bharti said.

At 15:15 hours IST, shares rose 3.02 percent to Rs 297.15 on Bombay Stock Exchange.

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HSIL: Disinvestment in equity of AGI Glasspack

Mar 25, 2013, 06.21 PM IST

HSIL has disinvested/sold its entire investment in equity shares of its wholly owned subsidiary, AGI Glasspack Ltd. pursuant to the decision taken by the Board in its meeting held on March 20, 2013. Accordingly AGI Glasspack Limited ceases to be a subsidiary Company of HSIL Ltd. with effect from March 25, 2013.

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HSIL: Disinvestment in equity of AGI Glasspack

HSIL has disinvested/sold its entire investment in equity shares of its wholly owned subsidiary, AGI Glasspack Ltd. pursuant to the decision taken by the Board in its meeting held on March 20, 2013. Accordingly AGI Glasspack Limited ceases to be a subsidiary Company of HSIL Ltd. with effect from March 25, 2013.

Like this story, share it with millions of investors on M3

HSIL: Disinvestment in equity of AGI Glasspack

HSIL has disinvested/sold its entire investment in equity shares of its wholly owned subsidiary, AGI Glasspack Ltd. pursuant to the decision taken by the Board in its meeting held on March 20, 2013. Accordingly AGI Glasspack Limited ceases to be a subsidiary Company of HSIL Ltd. with effect from March 25, 2013.

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HSIL Ltd has informed BSE that the Company has disinvested/sold its entire investment in equity shares of its wholly owned subsidiary, AGI Glasspack Ltd. pursuant to the decision taken by the Board in its meeting held on March 20, 2013.Accordingly AGI Glasspack Limited ceases to be a subsidiary Company of HSIL Ltd. with effect from March 25, 2013.Source : BSE

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Rathi Graphic board meeting on March 30, 2013

Mar 25, 2013, 06.21 PM IST

Rathi Graphic Technologies has informed BSE that a meeting of the Board of Directors of the Company will be held on March 30, 2013, inter alia, to consider to issue and allot 25,00,000 Equity Shares to the Promoter Group and Non-Promoters as mentioned in the Notice of Extra-Ordinary Meeting which was held on March 20, 2013.

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Rathi Graphic board meeting on March 30, 2013

Rathi Graphic Technologies has informed BSE that a meeting of the Board of Directors of the Company will be held on March 30, 2013, inter alia, to consider to issue and allot 25,00,000 Equity Shares to the Promoter Group and Non-Promoters as mentioned in the Notice of Extra-Ordinary Meeting which was held on March 20, 2013.

Like this story, share it with millions of investors on M3

Rathi Graphic board meeting on March 30, 2013

Rathi Graphic Technologies has informed BSE that a meeting of the Board of Directors of the Company will be held on March 30, 2013, inter alia, to consider to issue and allot 25,00,000 Equity Shares to the Promoter Group and Non-Promoters as mentioned in the Notice of Extra-Ordinary Meeting which was held on March 20, 2013.

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Rathi Graphic Technologies Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on March 30, 2013, inter alia, to consider the following:1. To issue and allot 25,00,000 Equity Shares to the Promoter Group and Non-Promoters as mentioned in the Notice of Extra-Ordinary Meeting which was held on March 20, 2013.2. To consider the matters relating to post issue.Source : BSE

Read all announcements in Rathi Graphic

From DJ EU Officials Spain Aid Cap Of 100 Bn Euros 'should Be Enough'

The latest earning numbers FIRST on CNBC-TV18

20.07 | 0 komentar | Read More

Shekhawati Poly fixes record date for stock split

Mar 25, 2013, 06.23 PM IST

Shekhawati Poly Yarn has informed BSE that the Company has fixed April 12, 2013 as the Record Date for the purpose of Split / Sub-division of Equity share of the Company from the face value of Rs. 10/- each to Re. 1/- each.

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Shekhawati Poly fixes record date for stock split

Shekhawati Poly Yarn has informed BSE that the Company has fixed April 12, 2013 as the Record Date for the purpose of Split / Sub-division of Equity share of the Company from the face value of Rs. 10/- each to Re. 1/- each.

Like this story, share it with millions of investors on M3

Shekhawati Poly fixes record date for stock split

Shekhawati Poly Yarn has informed BSE that the Company has fixed April 12, 2013 as the Record Date for the purpose of Split / Sub-division of Equity share of the Company from the face value of Rs. 10/- each to Re. 1/- each.

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Shekhawati Poly Yarn Ltd has informed BSE that the Company has fixed April 12, 2013 as the Record Date for the purpose of Split / Sub-division of Equity share of the Company from the face value of Rs. 10/- each to Re. 1/- each.Source : BSE

Read all announcements in Shekhawati Poly

From DJ EU Officials Spain Aid Cap Of 100 Bn Euros 'should Be Enough'

The latest earning numbers FIRST on CNBC-TV18

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Colgate Palmolive (India) to sell division for Rs 60 cr

Colgate Palmolive (India) today said its board has approved the selling of a division to Colgate Global Business Services (CGBSPL) for Rs 59.89 crore.

The board has agreed to sell the company's division- Global Shared Services Organisation - to CGBSPL, which is a 100 per cent subsidiary of holding company, Colgate Palmolive Company, USA (CP-USA), by way of a slump sale for Rs 59.89 crore, effective June 1, 2013, Colgate Palmolive said in a filing to the BSE.

Also read: India Inc sales growth to crawl at 6-7% in Q4FY13: CRISIL

"The above consideration has been arrived at on the basis of independent valuation conducted by Ernst & Young Pvt Ltd, to be suitably adjusted at the time of actual transfer," it added.

The sale will include transfer of all employees, assets, and liabilities, the company said. In a separate filing to the BSE, the company said its board has approved a third interim dividend of Rs 9 per equity share of Re 1 for the financial year ending March 31, 2013.

"The said interim dividend will be paid on the paid-up equity share capital of Rs 13.60 crore involving a total pay out of Rs 142.25 crore," it added. The dividend would be paid on April 19, 2013, it said.Colgate Palmolive (India) closed at Rs 1,281.20 on the BSE, down 2.15 per cent from its previous close.

20.07 | 0 komentar | Read More

Salman to appear in court on Monday in hit-and-run case

Bollywood actor Salman Khan is all set to appear in person before a Sessions Court here in the 2002 hit-and-run case on March 25. He would return from the USA tonight and appear before the Court on Monday, sources close to the superstar told media.

The case would come up for the first time before the Sessions Court after a Magistrate transferred the matter to that Court by charging the actor with a more serious charge of 'culpable homicide not amounting to murder'. Along with the prosecution's case against Salman, the court would also hear his appeal against the Magistrate's order, invoking the charge of 'culpable homicide not amounting to murder' against him which attracts a punishment upto ten years in prison.

Also read: Guv will use discretionary powers if Dutt appeals: Minister

Sessions Judge U B Hejib has scheduled the hearing for March 25, and the 47-year-old had been asked to be present on that day, the sources said. It would be Salman's first appearance before the Sessions court after Bandra Magistrate's court referred the case to the Sessions Court (because the offence he is now charged with is serious).

Earlier, the Magistrate had asked Salman to appear before the Sessions court on March 11, but he did not go to the court that day as the case was yet to be assigned to any judge. Sources said as there would be a fresh trial, evidence produced before the Magistrate's court would not be considered and prosecution may have to adduce evidence afresh. One person was killed and four injured when a Land Cruiser, allegedly driven by Salman, ran over people sleeping on pavement outside a bakery in suburban Bandra in the wee hours of September 28, 2002.

20.07 | 0 komentar | Read More

Kejriwal to begin indefinite hunger strike in Delhi today

Aam Aadmi Party (AAP) national convenor Arvind Kejriwal will begin his indefinite hunger strike from Saturday. Kejriwal intends to launch a "civil disobedience movement", asking Delhi residents not to pay their "illegal" electricity and water bills.

Also read: Suzuki Motorcycle workers warns to go on strike after Holi

Unlike his previous fasts, this one will not be held at Jantar Mantar or Ramlila Maidan, but at a party volunteer's home. On the eve of his indefinite fast, Kejriwal promised that any legal action against those who follow his lead and not pay bills would be revoked once his Aam Aadmi Party comes to power in the city.

He also attacked the opposition Bharatiya Janata Party saying its agitation against the hike in power and water tariff was just an election gimmick and it was hand-in-glove with the Congress. "People are forced to pay their bills through their nose due to fear of legal action against them. To instill confidence in them, I would be on indefinite fast from tomorrow," Kejriwal told reporters.

"The aim of my fast, which will begin from a house in Sunder Nagari, is to rally more and more people against the illegal bills," he added. Kejriwal appealed to people not to pay the bills and said if more and more won't pay and join the "civil disobedience movement", government and the discoms won't take against against them.

"Even if some people face legal action, then they must not panic as all the legal cases would be withdrawn after his party comes to power in Assembly election in November," he said. When asked if he was provoking people to break the law, he said Mahatma Gandhi had himself said that one should not obey the law if it's against people and be prepared to face its consequences.

Targeting the BJP, the activist-turned- politician said, "BJP had the copy of the order of former Delhi Electricity Regulatory Commission (DERC) chairman to reduce the tariff since 2010, but they were sitting on it and when the election is nearing they are protecting against the hike. They had not raised the issue in the Delhi Assembly.... Now Dikshit government wants to give a bailout package of Rs 20,000 crore to the discoms," he added.

He claimed that poor people had to take loan to pay their electricity and water bills. Elaborating about the course of action, Kejriwal said apart from him, party volunteers would be observing fast in 264 Wards of the city. Apart from it, the volunteers would collect signed letter in favour of Arvind Kejriwal.

20.07 | 0 komentar | Read More

Cheap, high power smartphone is next tech Big Bang: Google

Eric Schmidt, executive chairman, Google believes that the next revolution will be caused by cheap and high-power smartphones and laptops.

Schmidt spoke to CNBC-TV18 at an event in New Delhi where Indian and international experts came together to brainstorm about what the Internet has meant for India and the significant opportunities it offers.

Also Read: BlackBerry CEO says Android and Windows Phone are not mobile computing platforms

Below is an edited transcript of the show on CNBC-TV18

Q: Over the last decade, you built Google from a start-up to one of the most admired companies of all time. What is your verdict on your last 10 years at Google?

A: I could not be happier with what Google has achieved. It is a source of pride for me personally and for people at Google in general. The power of information is so dramatic and you really do touch people's lives when you give them the answers to the things they care about. I cannot think of a better way to spend a decade.

Q: What would you say your biggest failures have been?

A: We made money but we also had to make some trade-offs. Probably the biggest mistake that I made was not in seeing the social media revolution early on. I think we have realised it now but I would take responsibility for that mistake.

Q: Will that in the future affect search as well which is your biggest source of revenue? Will companies like Facebook and Amazon be able to map users better to offer enhanced services while you remain a passive search engine?

A: I would disagree that we are going to remain a passive search engine. We have a product called Google Plus which is doing extraordinarily well.

Q: But as compared to Facebook?

A: Facebook has been around longer than Google Plus. The Google Plus link graph which tracks the sort of people that you interact with is an important future signal on our search ranking. So I think we will be fine. I am not worried about it. I think it is just important that Google be a participant in all of the important Internet technologies.

Q: What and from where is the threat to the Gang of Four- Google, Facebook, Amazon and Apple- going to come from?

A: The Gang of Four is in reference to the presence of four network-scalable platforms in the industry that are driving huge shareholder value and impact on partners and the competition. The threats to each of them are many. In Apple's case, the threat is from the Android.

Amazon faces the threat of increased forays into the e-commerce space. Facebook has a a competitor in Google Plus and Google faces competition from Microsoft. So it is key for each of these companies to maintain or increase the rate at which they can continue to innovate to solve problems that really matter to the end-user.

The industry that was largely driven by the Microsoft monopoly structure and PC hardware manufacturers has been completely broken down now by the emergence of tablets and smartphones offering many different choices.

Q: Who do you see as the Google of today? Where Google was when search started? Which companies do you give the best chance of coming in and knocking you off?

A: I certainly hope it is Google. A new competitor to Google is unlikely to be a direct rival to our core business, but rather likely to compete from the side such as solving a problem in a new way, a way that we missed. We worry about that because that's typically how incumbents compete and all leading companies face that competition.

Also Read: YouTube targets Indian marketers, revamps site

20.07 | 0 komentar | Read More

Apple makes renewable energy push with solar, fuel cells

Apple Inc now runs its largest US data centre entirely on renewable energy, with a majority of the power generated on-site from solar panels and fuel cells, the company's chief financial officer, Peter Oppenheimer, said.

The data centre in Maiden, North Carolina, which supports Internet storage and Apple's service-hosting iCloud product, produces 167 million kilowatt-hours - the power equivalent of 17,600 homes for one year - from a 100-acre solar farm and fuel cell installations provided by Silicon Valley startup Bloom Energy.

They are the largest, non-utility power-generating facilities of their kind in the United States, Oppenheimer told Reuters.

"We switched over to these new energy sources in December," he said. "And we are committed to generating 60 percent of the electricity that the data center will use by making power on site. We are now achieving that goal."

Apple purchases the rest of the green power needed at the facility.

Apple and other technology companies - such as Amazon and Microsoft - that build and run computer server farms have come under criticism for their high consumption of electricity and other resources. These data centers cater to an explosion in Internet traffic, streaming content through mobile devices and hosting of services to corporations.

Apple has switched many of its corporate facilities to fully operate on green power, including those in Austin, Texas; Cork, Ireland; and Sacramento, California, Oppenheimer said.

The company is building another 20-megawatt solar farm at its Maiden facility with solar panels supplied by SunPower Corp .

Overall, Apple said it has increased the proportion of renewable energy used throughout the company to 75 percent. Eventually, the company aims to use only renewable energy at all its facilities around the world.

20.07 | 0 komentar | Read More

Salman to appear in court on Monday in hit-and-run case

Bollywood actor Salman Khan is all set to appear in person before a Sessions Court here in the 2002 hit-and-run case on March 25. He would return from the USA tonight and appear before the Court on Monday, sources close to the superstar told media.

The case would come up for the first time before the Sessions Court after a Magistrate transferred the matter to that Court by charging the actor with a more serious charge of 'culpable homicide not amounting to murder'. Along with the prosecution's case against Salman, the court would also hear his appeal against the Magistrate's order, invoking the charge of 'culpable homicide not amounting to murder' against him which attracts a punishment upto ten years in prison.

Also read: Guv will use discretionary powers if Dutt appeals: Minister

Sessions Judge U B Hejib has scheduled the hearing for March 25, and the 47-year-old had been asked to be present on that day, the sources said. It would be Salman's first appearance before the Sessions court after Bandra Magistrate's court referred the case to the Sessions Court (because the offence he is now charged with is serious).

Earlier, the Magistrate had asked Salman to appear before the Sessions court on March 11, but he did not go to the court that day as the case was yet to be assigned to any judge. Sources said as there would be a fresh trial, evidence produced before the Magistrate's court would not be considered and prosecution may have to adduce evidence afresh. One person was killed and four injured when a Land Cruiser, allegedly driven by Salman, ran over people sleeping on pavement outside a bakery in suburban Bandra in the wee hours of September 28, 2002.

20.07 | 0 komentar | Read More

Kejriwal to begin indefinite hunger strike in Delhi today

Aam Aadmi Party (AAP) national convenor Arvind Kejriwal will begin his indefinite hunger strike from Saturday. Kejriwal intends to launch a "civil disobedience movement", asking Delhi residents not to pay their "illegal" electricity and water bills.

Also read: Suzuki Motorcycle workers warns to go on strike after Holi

Unlike his previous fasts, this one will not be held at Jantar Mantar or Ramlila Maidan, but at a party volunteer's home. On the eve of his indefinite fast, Kejriwal promised that any legal action against those who follow his lead and not pay bills would be revoked once his Aam Aadmi Party comes to power in the city.

He also attacked the opposition Bharatiya Janata Party saying its agitation against the hike in power and water tariff was just an election gimmick and it was hand-in-glove with the Congress. "People are forced to pay their bills through their nose due to fear of legal action against them. To instill confidence in them, I would be on indefinite fast from tomorrow," Kejriwal told reporters.

"The aim of my fast, which will begin from a house in Sunder Nagari, is to rally more and more people against the illegal bills," he added. Kejriwal appealed to people not to pay the bills and said if more and more won't pay and join the "civil disobedience movement", government and the discoms won't take against against them.

"Even if some people face legal action, then they must not panic as all the legal cases would be withdrawn after his party comes to power in Assembly election in November," he said. When asked if he was provoking people to break the law, he said Mahatma Gandhi had himself said that one should not obey the law if it's against people and be prepared to face its consequences.

Targeting the BJP, the activist-turned- politician said, "BJP had the copy of the order of former Delhi Electricity Regulatory Commission (DERC) chairman to reduce the tariff since 2010, but they were sitting on it and when the election is nearing they are protecting against the hike. They had not raised the issue in the Delhi Assembly.... Now Dikshit government wants to give a bailout package of Rs 20,000 crore to the discoms," he added.

He claimed that poor people had to take loan to pay their electricity and water bills. Elaborating about the course of action, Kejriwal said apart from him, party volunteers would be observing fast in 264 Wards of the city. Apart from it, the volunteers would collect signed letter in favour of Arvind Kejriwal.

20.07 | 0 komentar | Read More

Cheap, high power smartphone is next tech Big Bang: Google

Eric Schmidt, executive chairman, Google believes that the next revolution will be caused by cheap and high-power smartphones and laptops.

Schmidt spoke to CNBC-TV18 at an event in New Delhi where Indian and international experts came together to brainstorm about what the Internet has meant for India and the significant opportunities it offers.

Also Read: BlackBerry CEO says Android and Windows Phone are not mobile computing platforms

Below is an edited transcript of the show on CNBC-TV18

Q: Over the last decade, you built Google from a start-up to one of the most admired companies of all time. What is your verdict on your last 10 years at Google?

A: I could not be happier with what Google has achieved. It is a source of pride for me personally and for people at Google in general. The power of information is so dramatic and you really do touch people's lives when you give them the answers to the things they care about. I cannot think of a better way to spend a decade.

Q: What would you say your biggest failures have been?

A: We made money but we also had to make some trade-offs. Probably the biggest mistake that I made was not in seeing the social media revolution early on. I think we have realised it now but I would take responsibility for that mistake.

Q: Will that in the future affect search as well which is your biggest source of revenue? Will companies like Facebook and Amazon be able to map users better to offer enhanced services while you remain a passive search engine?

A: I would disagree that we are going to remain a passive search engine. We have a product called Google Plus which is doing extraordinarily well.

Q: But as compared to Facebook?

A: Facebook has been around longer than Google Plus. The Google Plus link graph which tracks the sort of people that you interact with is an important future signal on our search ranking. So I think we will be fine. I am not worried about it. I think it is just important that Google be a participant in all of the important Internet technologies.

Q: What and from where is the threat to the Gang of Four- Google, Facebook, Amazon and Apple- going to come from?

A: The Gang of Four is in reference to the presence of four network-scalable platforms in the industry that are driving huge shareholder value and impact on partners and the competition. The threats to each of them are many. In Apple's case, the threat is from the Android.

Amazon faces the threat of increased forays into the e-commerce space. Facebook has a a competitor in Google Plus and Google faces competition from Microsoft. So it is key for each of these companies to maintain or increase the rate at which they can continue to innovate to solve problems that really matter to the end-user.

The industry that was largely driven by the Microsoft monopoly structure and PC hardware manufacturers has been completely broken down now by the emergence of tablets and smartphones offering many different choices.

Q: Who do you see as the Google of today? Where Google was when search started? Which companies do you give the best chance of coming in and knocking you off?

A: I certainly hope it is Google. A new competitor to Google is unlikely to be a direct rival to our core business, but rather likely to compete from the side such as solving a problem in a new way, a way that we missed. We worry about that because that's typically how incumbents compete and all leading companies face that competition.

Also Read: YouTube targets Indian marketers, revamps site

20.07 | 0 komentar | Read More