WANTED COUPLE FOR MARS VOYAGE

Second honeymoon on Mars! A married couple is being sought to represent humanity on the first manned mission to Mars to be launched in 2018. US millionaire tycoon Dennis Tito, who in 2001 became the first space tourist, has launched an ambitious project to send two civilians on a historic 501 days return journey to the Red Planet in January 2018. Tito has unveiled the plan to launch the first manned mission to Mars in 2018, a voyage that could include an adventurous married crew, 'SPACE.com' reported. Tito announced the private Mars voyage plan here yesterday. The project aims not to land people on the surface of the Red Planet, but to take advantage of a rare planetary alignment that would allow a relatively easy, quick flyby around the Mars. Tito hopes to choose a space capsule and rocket from among those already on the market, and modify them to carry two people to Mars and back in 501 days. And to combat the loneliness and isolation that would doubtless set in during such a mission, Tito is proposing something that has never been tried before: sending one male and one female, preferably a married couple. "When you're out that far and the Earth is a tiny, blue pinpoint, you're going to need someone you can hug," Tito said. "What better solution to the psychological problems you're going to encounter with that isolation?" The mission is designed to capitalise on a launch opportunity that opens in January 2018. "There are rare opportunities to actually go out to Mars and come back in a relatively short time, about 1.4 years, or 500 or so days," Tito said. "If one misses those opportunities, then typical flight times would be two to three years," he said. Though Tito admits the plan faces numerous challenges, he says it's doable. "I've seen others come out with fantasy missions that in no way will actually occur. I didn't want to fall into that," he said.

Super rich tax,other proposals to swell exchequer by Rs 18K cr

New tax proposals including 10 per cent surcharge on super rich and higher duties on mobiles, cigarettes and SUVs will help government garner Rs 18,000 crore in 2013-14. Finance Minister P Chidambaram in his budget speech today said, "My tax proposals on the direct taxes side are estimated to yield Rs 13,300 crore and on the indirect taxes side Rs 4,700 crore." As part of budget proposals for direct taxes, the Finance Minister imposed a surcharge of 10 per cent on persons (other than companies) whose taxable income exceeds Rs 1crore. Besides, surcharge has been doubled to 10 per cent on domestic companies whose taxable income exceeds Rs 10 crore. For foreign companies, surcharge has been raised from 2 per cent to 5 per cent, if the taxable income exceeds Rs 10 crore. These additional surcharges would be in force for only one year. However, education cess would continue at 3 per cent. At the same time, the Finance Minister has provided tax relief of Rs 2,000 for the Tax Payers in the first bracket of Rs 2 lakh to Rs 5 lakh. With regards to indirect taxes, the Finance Minister proposed raising excise duty on SUVs from 27 per cent to 30 per cent while on mobile phones priced above Rs 2,000 it has been raised to 6 per cent from the current 1 per cent. Cigarettes will cost more as specific excise duty increased by about 18 per cent. Similar increases are proposed on cigars and cigarillos.

COSTLY vs CHEAP

The next big smartphone accessory: your car

Automobile giants at the world's biggest mobile fair are showing off a new technology that turns a car into a smartphone accessory, allowing a driver to use cutting-edge apps without veering off the road. Called MirrorLink, and adopted by 85 big manufacturers from Ford to General Motors, Chrysler, Nissan, Honda, Hyundai, BMW, VW, Fiat or Renault, it connects a smartphone and car entertainment system with a two-way audio, video and data link. "People are using their smartphone applications and services 80 per cent of the time. The other 20 per cent when they are not using them is when they are in the car," said Jorg Brakensiek, technical coordinator for the Car Connectivity Forum. "For the driver there is no really safe mechanism for the driver to do that," he told AFP at the Mobile World Congress in Barcelona, Spain. MirrorLink requires a compliant car entertainment system and a smartphone with the software, which can be downloaded. Drivers then can access their favourite apps. The apps must meet legal requirements for screens that face drivers, for example the text must be a certain size and some functions such as typing must be disabled while the car is moving. "The basic assumption is that the phone comes with the application," said Brakensiek. "You use the car as an accessory." Eventually, the MirrorLink technology will feed other data from the car to the smartphone, such as speed, location and even weather. That information can be used to develop new applications or improve other services, such as traffic news. The Car Conectivity Forum, which groups nearly all car manufacturers, was set up to develop the technology two years ago. The first MirrorLink compliant car entertainment systems have been released by the likes of Sony and JVC, for installation into existing vehicles. The next step will be for manufacturers to build them into cars before sale. The new technology avoids problems posed by the "smart car" in which manufacturers weld a SIM card into a vehicle so as to offer driver services such as navigation, SOS response and door unlocking, as well as paid-for entertainment. One challenge is that the SIM card built into the car ties the owner to one operator for the car's life -- up to 15 years. To overcome this, car makers are trying to agree on a standard way to program the SIM card by remote.

MENTION OF POETS

Chidambaram is greeted by his grand daughter Aditi Nalini Finance Minister P Chidambaram's low-key budget presentation won applause from members as he seasoned it with a fair sprinkling of quotations from poets and scholars, and highlighted sensitive issues that struck a chord with even those seated on the opposition benches. True to his style, the veteran Finance Minister stayed focussed on his schemes and tax proposals during his 95-minute presentation , which he began with the promise of keeping it "simple, straight forward and reasonably short". Unlike the Rail Budget two days ago, Chidambaram's speech in the Lok Sabha was heard with rapt attention and there were only a couple of minor disruptions. The 67-year-old Harvard-educated Finance Minister invoked noted Nobel Prize winning economist Joseph Stiglitz, Saint Thiruvalluvar and Swami Vivekanand to impress his audience. Quoting Stiglitz, he said, "There is a compelling moral case for equity; but it is also necessary if there is to be sustained growth. A country's most important resource is its people." Towards the end, he read out some lines of his favourite Tamil poet: "What clearly eye discerns as right, with steadfast will and mind unslumbering, that should man fulfil". Though the Treasury Benches applauded him frequently, Chidambaram invited some brickbats too.

FII vs FDI

Seeking to end ambiguity, the government today proposed to follow the international practice with regard to defining foreign direct investment (FDI) and foreign institutional investors (FII). "In order to remove the ambiguity that prevails on what is FDI and what is FII, I propose to follow the international practice and lay down a broad principle," Finance Minister P Chidambaram today said in his Budgetary proposals. He said that "where an investor has a stake of 10 per cent or less in a company, it will be treated as FII and, where an investor has a stake of more than 10 per cent, it will be treated as FDI".

WOMEN FOUND 24 MENTIONS

When it comes to usage of words in the budget speech, terms like women, youth and investors grew in count from the last year levels, when Finance Minister P Chidambaram presented the annual accounts of the country's economic health today. Words like inflation, deficit, investment, jobs and poor also found larger number of mentions in this year's budget speech, while words like crisis, slowdown, problems, uncertainties, and surprisingly growth, declined in the count. Presenting the Union Budget for 2013-14, Chidambaram mentioned the word 'women' as many as 24 times -- most of which were during his proposal for setting up a 'Women's Bank'. The Finance Minister said that many banks had women as their heads, but no bank exclusively served women. He proposed a public sector bank that would lend mostly to women and women-run businesses, employ predominantly women and work for gender-specific empowerment and financial inclusion. The word 'women' had found a mention eight times in the budget speech of last year. Chidambaram said that women, youth and poor today represent the vast majority of people in India. The words 'poor' and 'youth' found five and seven mentions respectively in today's speech -- both marking an increase from last year. Among economic terms, the word 'investment' was used 36 times, while 'investors' and 'growth' found 18 and 19 mentions respectively. The count of the word 'deficit' was at 14, while those of crisis and slowdown were two and one respectively. The usage of deficit rose from 13 last year, while that of crisis and slowdown fell from eight and three, respectively. The growth was also mentioned a larger number of 25 times last year. In last year's budget speech, delivered by then Finance Minister Pranab Mukherjee, the words like 'crisis', 'slowdown', 'growth' and 'challenges' had grown in count. In the beginning of his speech, Chidambaram also mentioned that Indian economy was navigating through a crisis that has enveloped the whole world and spared none. However, he ended his speech in a positive tone, quoting Swami Vivekananda as saying: "All the strength and succour you want is within yourself. Therefore, make your own future."

INCOME TAX TABLE

Following is the table of the impact of changes in income tax provisions proposed by Finance Minister P Chidambaram in the Budget for 2013-14. These include a tax relief of Rs 2,000 on income between Rs 2 lakh and Rs 5 lakh, and 10 per cent surcharge on income above Rs 1 crore. INCOME TAX RATE IMPACT (Individual Tax Payers) 1. Up to Rs 2,00,000 NIL NIL Rs 2,00,001 to Rs 5,00,000 10 per cent Rs 2,000 (Savings) Rs 5,00,001 to Rs 10,00,000 20 per cent NIL Rs 10,00,001 to Rs 1 crore 30 per cent NIL Above Rs 1 crore 30+10% surcharge 3% burden 2. (For Senior Citizens of 60 years but less than 80 years) Up to Rs 2,50,000 NIL NIL Rs 2,50,001 to Rs 5,00,000 10 per cent Rs 2,000 (Savings) Rs 5,00,001 to Rs 10,00,000 20 per cent NIL Rs 10,00,001 to Rs 1 crore 30 per cent NIL Above Rs 1 crore 30+10% Surcharge 3% burden 3 (Very Senior Citizens of 80 years and above) Up to Rs 5,00,000 NIL Rs 2,000 (Savings) Rs 5,00,001 to Rs 10,00,000 20 per cent NIL Rs 10,00,001 to Rs 1 crore 30 per cent NIL Above Rs 1 crore 30+10% Surcharge 3% burden

RAIL BUDGET IN CHARTS

Continuing efforts to clean up Railway finances, the Budget for 2013-14 today effected an across-the-board 5.8 per cent hike in freight charges to net in Rs 4,200 crore a year while raising passenger reservation and related charges to rake in an additional Rs 483 crore. Railway Minister P K Bansal, the first Congress Minister to present Railway Budget in 17 years, however, did not touch the basic passenger fares which he had hiked across-the-board only last month to raise Rs 6,600 crore. Adopting the dynamic fuel adjustment component (FAC)- linked revision in tariffs, proposed by his Trinamool predecessor Dinesh Trivedi last year, the Minister slapped an average 5.8 per cent increase on goods. This will cover among other things foodgrains and pulses, coal, iron and steel, urea, iron ore, diesel, kerosene and LPG, which the industry and political parties feared could lead to further inflation spiral. Beginning April 1, the FAC will be adjusted in freight rates twice a year in line with changes in diesel price. "In the light of deregulation of high speed diesel (HSD), Railways' finances need to be rationally insulated and to this end a mechanism to neutralise the impact of fuel prices on operating expenses is required to be put in place," Bansal said. The upward revision of reservation fee and supplementary charge for superfast trains will mean an increase ranging from Rs 5 on the second class to Rs 25 on AC 1st and Executive Class. Tatkal charges will go up by Rs 15 on sleeper class to Rs 100 on Executive Class. Clerkage and cancellation charges will go up by Rs 5 on second class to Rs 50 on Executive Class. The Budget proposes to withdraw the enhanced reservation fee and proposes no increase in parcel and luggage rates. The changes will come into effect from April 1. Bansal told a post-Budget press conference that he was no apologetic about the hike in freight rates and passenger charges. The Budget gives a major thrust on passenger safety, amenities and cleanliness while proposing introduction of 67 new express and 26 passenger trains in the coming year. It also has proposals for construction of seven new lines and doubling of 10 lines. Introduction of first AC Electrical Multiple Unit (EMU) on Mumbai suburban network, introduction of 72 additional services in Mumbai and 18 in Kolkata are among the metropolitan projects and suburban services proposed in the Budget. Bansal said a Railway Tariff Regulatory Authority has been formulated and was at an inter-ministerial consultation stage. It also contains a slew of concessions like complimentary passes to recipients of Rajiv Gandhi Khel Ratna and Dhyan Chand awards in First Class and 2nd AC and Olympic medallists and Dronacharya awardees in Rajdhani and Shatabdi trains. With regard to passenger amenities, the Budget proposes provision of free Wi-Fi facilities on several trains, progressive extension of bio-toilets on trains and induction of Next-Gen e-ticketing system capable of issuing 7,200 tickets per minute against 2,000 now. As many as 1.2 lakh users can access tickets simultaneously under the proposed upgraded system against 40,000 now. Touching on financial performance for 2012-13, Bansal said loading target has been revised to 1,007 Million Tonnes against 1,025 MT in budget estimates due to economic slowdown. Gross Traffic Receipts have been fixed at Rs 1,25,680 crore in revised estimates, short by Rs 6,872 crores over Budget estimates. Ordinary Working Expenses have been retained at Budget Estimate level of Rs 84,400 crores, while pension payments have increased by Rs 1,500 crore to Rs 20,000 crores. Dividend liability to the government has been fully discharged. The Budget shows an 'excess' of Rs 10,409 crores as against the Budget amount of Rs 15,557 crores. Loan of Rs 3,000 crore taken in the current year has been fully repaid along with interest. Operating Ratio has been recorded at 88.8 per cent, as compared to 94.9 per cent in 2011-12. The Budget Estimates for 2013-14 has fixed a freight loading target of 1,047 MT, 40 MT more than the previous year. Passenger growth has been estimated at 5.2 per cent and gross traffic receipts at Rs 1,43,742 crore, an increase of Rs 18,062 crore over the revised estimates of the current year. Ordinary working expenses have been placed at Rs 96,500 crore. Appropriation to Depreciation Reserve Fund has been pegged at Rs 7,500 crore and Pension Fund at Rs 22,000 crore. Dividend Payment has been estimated at Rs 6, 249 crore. Operating ratio is expected to improve by one per cent to 87.8 per cent and fund balance to exceed Rs 12,000 crore. Annual Plan for Railways for the coming year has been fixed at Rs 63,363 crore, the largest ever, with Gross Budgetary Support of Rs 26,000 crore. Allocation for Railway Safety Fund has been fixed at Rs 2,000 crore while internal resources have been estimated at Rs 14,260 crore. As part of extra budgetary resources, market borrowing has been pegged at Rs 15,103 crore while public-private partnership will yield Rs 6,000 crore. Inducting fiscal discipline, the Railway Minister said no supplementary demands for grants will be introduced in the monsoon or winter sessions of Parliament and 347 projects have been prioritised with assured funding. A new Debt Service Fund will be set up to meet committed liabilities and a target of creating a fund balance of Rs 30,000 crore in the terminal year of the 12th Plan has been fixed. The Budget proposes a corporate safety plan for a 10 year period (2014-24) and elimination of 10,797 level crossings during the 12th Plan. There will be no addition of level crossings in the Indian Railways henceforth. As part of safety features, a train protection warning system on automatic signalling systems will be introduced and rigorous trials of the indigenously developed train collision avoidance system will be conducted. Among the rail-based industries to be set up are, a Forged Wheel Factory at Rae Bareli, the constituency of Congress chief Sonia Gandhi, a greenfield MEMU manufacturing facility at Bhilwara in Rajasthan and a coach manufacturing factory at Sonepat.

BIZ CLIMATE IMPROVES

Country's business climate has improved in February on account of robust production and government's reform initiatives, and the economy should return to a strong growth path by end of 2013-14 if current trend persists for a few more months, a new report says. The BluFin Business Cycle Indicator (BCI), that reflects various macroeconomic trends on a monthly basis, stood at 170.4 points in February, 4.2 per cent higher compared to the same month last year. The improvement suggests that the economy is growing at a faster rate than the previous year. Historically, the BCI has grown by an average of seven per cent year-on-year, financial information provider BluFin said today. Moreover, BCI has been indicating a reversal in the economic slowdown since July 2012 and expects that economic growth in India to gather momentum by the second quarter of 2013-14 financial year. "The key factors leading to the strong improvement (in February) were increasing foreign trade, rising production of intermediate goods, moderating international metal prices and policy reforms leading to shrinking expenditures, rising revenues and lower government borrowing," the report said. Additionally, indicators such as tourism and earnings from railway freight traffic have also shown a significant improvement compared to the same time last year. However, domestic air travel and a weak currency has impacted the growth. The index takes into account five broad areas - capital markets, foreign trade, policy, real economy and survey. "The sluggish upmove of the last few months is now turning into a genuine uptrend. BCI is suggesting that the long downtrend in Indian growth is close to an end. The Budget will obviously decide the next big move - but the BCI for February is strongly suggestive of a growth budget," BluFin Senior Advisor Surjit Bhalla said. "If the current BCI trend persists for a few more months, the Indian economy should return to a strong growth trajectory by the end of 2013-14 backed by solid fundamentals," he added.

HOUSING PRICES ON RISE

Housing prices have increased in 18 major cities, including Delhi and Mumbai, by up to 9.6 per cent during October-December 2012 over the previous quarter due to rise in input cost and limited fresh supply, National Housing Bank said today. Mumbai and Delhi witnessed the maximum increase in housing price at 9.6 per cent each. Out of 20 cities tracked by NHB 'RESIDEX', prices have dropped in only two cities -- Faridabad and Indore. "In majority of the cities prices are witnessing upward trend," NHB said in a statement. "The movement in prices of residential properties has shown increasing trend in 18 cities ranging from 0.6 per cent in Chennai to 9.6 per cent in Delhi & Mumbai, and fall in only two cities namely Indore (-1.0 per cent) and Faridabad (-5.1 per cent) in the quarter October-December 2012 in comparison to the previous quarter July-September 2012," it added. Prices have shot up by 9.4 per cent each in Kolkata and Patna, followed by Kochi (8.8 per cent), Surat (8.7 per cent), Bengaluru (8.2 per cent) and Lucknow (8 per cent). Hyderabad saw an appreciation in housing price by 7.1 per cent, while in Ludhiana rates rose by 6.5 per cent, Ahmedabad (6.1 per cent), Guwahati (5.1 per cent), Bhopal (4.9 per cent), Bhubaneshwar and Jaipur (2.4 per cent), Vijayawada (2.2 per cent), Pune (2 per cent) and Chennai (0.6 per cent). When contacted, NHB Chairman and Managing Director R V Verma said: "Prices have increased because of limited fresh supply and rise in input cost like labour, steel and cement". "New launches have been very limited in these cities and there is a high demand for existing inventory," he said, and expected a similar trend in the present quarter as builders are unlikely to cut prices. NHB RESIDEX tracks the movement in prices of residential properties on a quarterly basis since 2007. The index for Delhi includes property transactions of Gurgaon, Noida, Greater Noida and Ghaziabad.

GOOGLE'S BRAND POWER

Google is the most trusted online brand in the country, with Facebook coming in at number two, says a study by Brand Trust Advisory. Yahoo has emerged as the second-most trusted search engine after Google, says the report. The survey was conducted in 16 cities, taking into consideration 19,000 unique brands across 211 categories, Trust Research Advisory chief executive N Chandramouli said. Social networking sites are gaining popularity, with Orkut and Twitter ranking fourth and sixth respectively overall. "Google's Orkut, steadied at fourth rank despite a significant fall in daily visitors from here. Facebook has ranked first in the sub-category of social networking," he said. The fifth slot has gone to shopping portal eBay, which tops in the list of e-commerce brands followed by AOL, Amazon, Ibibo and OLX.in. YouTube, which ranks ninth, leads the sub-category of online sharing portals, while Naukri managee the 24th position overall.

ANOTHER BLOW TO KF AIRLINES

Spelling more trouble for beleaguered Kingfisher Airlines, Government today announced withdrawal of all domestic and international flying slots of the grounded carrier with immediate effect and decided to allot them to other Indian airlines. "These traffic rights have been withdrawn from Kingfisher Airlines on account of non-utilisation by the airline. It used to have as many as 126 flying slots for international flights to eight countries which have now been withdrawn," a Civil Aviation Ministry official said. Flying or airport slots are rights allocated to a scheduled airline by an airport operator or government agency, granting the slot owner the right to schedule a landing or departure during a specific time period. The withdrawal of these slots would make available approximately 25,000 seats per week for use by other Indian carriers to these eight countries, some of which are much in demand by Kingfisher's Indian competitors, the official said. Keeping this in mind, the Ministry has decided to allot the international slots, which are decided by the bilateral air services agreement between India and these countries. The countries to which Kingfisher used to operate are the UK (seven flights each week), the UAE (21 flights per week), Thailand (21 flights), Nepal (seven), Bangladesh (14), Sri Lanka (35), Hong Kong (14) and Singapore (seven). "These traffic rights were allocated to Kingfisher between 2008 and 2011," the official said. Similarly, the government also decided to withdraw the domestic slots which were allocated to Kingfisher at different airports across the country to mount domestic flights, he said, adding that the Airports Authority of India (AAI) has been directed to make these slots available to other domestic carriers as per their demand. When contacted, a Kingfisher spokesperson declined to comment on the development.In October last year, the Directorate General of Civil Aviation (DGCA) had temporarily suspended the Scheduled Operator Permit (SOP) or flying permit of the Vijay Mallya- promoted carrier following a strike by its pilots and engineers over non-payment of salaries for several months that completely grounded its fleet. The SOP then expired on December 31. A week before this, the beleaguered airline submitted an interim revival plan to the aviation regulator to resume limited operations. But the DGCA was not happy with the plan. It sought more information on the funding and payment of dues and decided not to allow the airlines to take to air till it met a series of conditions, including payment of dues to its employees and various service providers like airport operators. Failing to provide any credible input, Kingfisher's lenders -- a consortium of banks -- also decided earlier this month to start the process of recovering Rs 7,500 crore outstanding loans from the grounded airline.

MOBILE INDUSTRY TO INVEST $ 1.1 TRILLION BY 2017

The mobile industry will invest USD 1.1 trillion by 2017 and the ecosystem around it is expected to employ 10 million people globally, said a report released by global industry body GSM Association said. "For the period through 2017, the mobile industry will invest USD 1.1 trillion in capital expenditure and will contribute USD 2.6 trillion to public funding. Importantly, in 2017, companies across the ecosystem will employ nearly 10 million people globally," 'The Mobile Economy 2013' report prepared Developed by GSMA and consulting major A.T. Kearney said. The report said revenue from total mobile ecosystem revenues reached USD 1.6 trillion -- around 2.2 per cent of the global Gross Domestic Product (GDP). "To fully realise this future and to enable the mobile industry to maximise its investments, it is essential that we establish a light-touch regulatory environment, based predominantly on competition, and develop new business models that will allow all ecosystem participants to benefit from the mobile economy," GSMA Director General Anne Bouverot said. The report said it expects a further 700 million subscribers will be added by 2017 and the 4 billion-subscriber milestone will be reached in 2018 across the globe. At the end of 2012, there were 6.8 billion mobile connections worldwide and the study expects it to grow to 9.7 billion by the end of 2017. High speed internet on mobile phone accounted for 1.6 billion of these connections in 2012, increasing to 5.1 billion in 2017, including 920 million LTE connections, the report said. Mobile subscriber penetration globally stood at 45 per cent while mobile connection penetration is currently 94 per cent. As per GSM Association Wireless Intelligence, the variance between the number of mobile subscribers and the number of mobile connections is related to multiple SIM ownership as well as inactive SIMs.

FACEBOOK BUILDS COLD STORAGE

Facebook builds 'cold storage' archive for old photos Los Angeles, Feb 25 (PTI) Facebook is building a vast new "cold storage" facility in the US to archive all the messages, photos and other postings that its over billion users do not need every day but want to retain for future reference. A 16,000-square-foot data centre under construction in Prineville, Oregon, is designed to provide a more efficient home for older and less popular material. The new cold storage facility will join two existing data centres in Prineville, The Oregonian reported. Facebook knows you might want to see your old photos again someday. Or scroll back through your Timeline to revisit your posts as an online diary. But storing all those pictures and keeping them immediately available takes a lot of space. Not in the physical sense, but in the virtual. That means lots of hard drives, lots of storage and lots of energy. So Facebook is preparing to try out a more efficient storage system at its Prineville "cold storage", for those archival posts that people don't need every day, but that they don't want to lose altogether. Facebook says 82 per cent of its traffic is focused on just 8 per cent of its photos. Its cold storage facility is designed to create a more efficient way to store those photos that are not in heavy rotation. The cold storage building is just a skeletal frame now, and a concrete pad. Facebook hopes to have the first of three phases up and running soon. Each of the three 16,000-square-foot data hubs could hold an exabyte of data, equivalent to 1 million hard drives inside a contemporary personal computer. The tens of thousands of servers inside the two existing buildings are always on, ready to deliver your pictures and musings to your Facebook friends around the world. By contrast, most of the computers in the new cold storage facility will be asleep. A few will be alert, awaiting a request for old material and ready to summon the slumbering computers to provide their data. This material won't reach your computer as quickly as something posted just a few hours ago, but Facebook says it won't take long.

BLACKBERRY Z10 @ Rs.43,490

BlackBerry today launched its much-awaited smartphone Z10, powered by its latest operating system 'BlackBerry 10', in India at a price of Rs 43,490, taking rivals Apple and Samsung head on in the world's second largest telecom market. The Canadian smartphone maker has launched its latest model in India nearly a month after the global launch of new operating system 'BlackBerry 10' and two devices Z10 and Q10 on this platform on January 30. The new device is powered by a 1.5GHz dual-core processor, and has 2GB RAM. It comes with 16GB onboard memory, which can be expanded up to 64GB using a microSD card. It has 8 megapixel rear camera with LED flash, a 2MP HD camera in front and its connectivity options include Wi-Fi, 2G, 3G, 4G, Bluetooth 4.0, microUSB 2.0 and NFC. The device supports content in eight Indian languages – Telugu, Tamil, Kannada, Malayalam, Devanagiri (Hindi), Gurmukhi (Punjabi), Gujarati, and Bengali – as well as support for third-party solutions for Indian language input. The BlackBerry 10-powered phones also boast of faster browser, larger app library and new features like BlackBerry Hub, BlackBerry Flow, BlackBerry Balance and Time Shift. The struggling smartphone maker, which re-christened itself as 'BlackBerry' from Research in Motion in January, is betting on the new platform to turn around its fortunes. The Z10 competes with Apple's iPhone and those based on Google's Android operating system, which have gained popularity across the world. BlackBerry has a strong customer base in India, especially among youth. As per CyberMedia Research, RIM's market share in Indian smartphone market stood at 12.1 per cent during January-June 2012 period. BlackBerry, which faced strong criticism for lack of content on its application store, has also revamped it to take on Android's Play Store and Apple's App Store. The BlackBerry World storefront now includes over 70,000 BlackBerry 10 apps. For long been touted as an enterprise device, BlackBerry has now introduced 'BlackBerry Balance' that will allow users separate professional data and applications from music, photographs and other personal items. The new devices also feature enhanced camera features. BlackBerry Z10 was first unveiled in the UK, last month, followed by Canada, the UAE and the US earlier this month.

FII INVESTMENTS CROSS $ 4 BILLION IN FEB

Overseas investors have poured in more than USD 4 billion into Indian equities in February, taking the investment tally to USD 8.4 billion for calendar year 2013 so far. Foreign Institutional Investors (FIIs) infused a net amount of USD 4.31 billion (about Rs 23,035 crore) in Indian equities in February so far, taking the total for the year to USD 8.4 billion (Rs 45,094 crore). Market analysts attributed strong FII inflows to signs of RBI easing interest rates and the subsequent impact of improved liquidity position. Additionally, a slew of measures taken by the government, including the postponement of GAAR (General Anti Avoidance Rules) implementation by two years to April 1, 2016 and partial decontrol in diesel prices, have also attracted foreign investors. During February 1-22, FIIs were gross buyers of shares worth Rs 65,941 crore, while they sold equities amounting to Rs 42,906 crore, translating into a net investment of Rs 23,035 crore (USD 4.31 billion), as per Sebi data. Foreign fund houses also infused Rs 2,242 crore (USD 415 million) in the debt market in February. This takes the overall net investments by FIIs into debt markets to Rs 25,278 crore (USD 4.73 million) so far this calendar year. "FIIs have been betting high on Indian equities for the last six-seven months and reform measures taken by the government has further boosted the sentiment," Wellindia Executive Director Hemant Mamtani said. "Besides, FIIs have been infusing money into the Indian market on account of change in RBI's monetary policy that have added liquidity to the system. This liquidity will help in growth of the country," he added. FIIs bought equities worth USD 24.4 billion in 2012, about USD 5 billion below record purchases two years ago. As on February 22, the number of registered FIIs in the country stood at 1,756 and total number of sub-accounts was 6,345.

Rs.500/- NOTES SPREE

Share of Rs 500 denomination bank notes has gained significance and accounted for 47 per cent of the total currency in circulation in 2010-11, a study by the Reserve Bank shows. "Rs 500 denomination notes quickly emerged as the second most important denomination since 1998-99 and replaced Rs 100 denomination as the most important denomination in 2003-04. Its share in value among all denominations peaked at 47 per cent in 2010-11," the study said. It said during 1990s, there was a significant migration from the smaller denominations (Rs 50 and below) to Rs 100 and from Rs 100 to Rs 500, resulting in a significant increase in the share of Rs 500 denomination note, followed by other denominations. However, the share of 100 rupee denomination currency notes has declined substantially over the years with emergence of 500 and 1,000 rupee denominations as substitutes. "...Rs 100 accounted for close to 50 per cent of the value of the total currency in circulation throughout the three decades 1970s to 1990s...With Rs 500 and Rs 1,000 emerging as substitutes, its share declined to 14.8 per cent in 2010-11," the empirical study on demand for currency notes said. Also, the share of Rs 10 denomination currency notes progressively declined in importance from 34.3 per cent in 1970-71 to 2.2 per cent by 2010-11, the study shows. The study also revealed that Rs 20 denomination notes that substituted for Rs 10 denomination and gained in importance till 1982-83 (accounting for 8 per cent of the total value of the currency in circulation), steadily declined in significance, accounting for only 0.6 per cent of the value by 2010-11. However, Rs 50 denomination notes which substituted for Rs 10 and Rs 20 denominations - replacing Rs 10 to become the second most important denomination (in value terms) during the 1980s and 1990s (up to 1997-98) - peaked at 32.1 per cent in 1992-93 declined to just 1.7 per cent in 2010-11, the study said. It further said introduction of Rs 1,000 denomination notes in 2000-01 was followed by its rapid rise to account for 27.8 per cent in 2008-09, replacing Rs 100 to be the second most important denomination by 2007-08. The study said the changes in the underlying structure of household and firm-level denomination-wise demand for currency (by value) are attributable to multiple factors. "While the most significant factors in this regard could be the rate of inflation and change in real GDP, other factors having a bearing could be: changes in the distribution of income across individuals and sectors, extent of monetisation of the economy, availability of alternative modes of payment, changing motives for holding currency, etc."

BEWARE OF SAHARA

Close on the heels of ordering attachment of bank accounts, investments and all other assets of two Sahara group firms and their promoters, including group chief Subrata Roy, market watchdog Sebi today cautioned the investors and general public against transacting with these companies and persons. "Anyone transacting with them (Sahara India Real Estate Corp Ltd, Sahara Housing Investment Corp Ltd and their three promoters and directors) would be doing so at their own peril," the Securities and Exchange Board of India (Sebi) said. The regulator said that in furtherance to a Supreme Court order directing refund of investors' money collected by these Sahara firms, it has ordered "attachment of all moveable and immoveable properties, bank accounts and demat accounts of these two companies and that of its promoters and directors namely Subrata Roy Sahara, Vandana Bhargava, Ashok Roy Choudhary and Ravi Shankar Dubey". "Investors and general public are advised to exercise caution and take note of the said orders before transacting with the aforesaid entities/persons in any manner whatsoever," Sebi said in a public notice. On February 13, Sebi passed two separate orders, together running into 160 pages, directing attachment of properties and freezing of accounts. It was after the Supreme Court said that the regulator was free to freeze the accounts and attach properties if Sahara firms were not complying with the apex court's earlier orders of August 2012 towards refund of investors' money totalling over Rs 24,000 crore. The assets ordered to be attached included those related to the group's Aambey Valley resort town near Pune, other real estate assets in Delhi, Mumbai and at other places across the country, shares, mutual funds and various other investments. Passing the attachment orders, Sebi said that the two companies had raised Rs 6,380 crore and Rs 19,400 crore, respectively from bondholders and "various illegalities" were committed in raising of these funds. With regard to Subrata Roy and three other directors, namely Vandana Bhargava, Ravi Shanker Dubey and Ashok Roy Choudhary, Sebi ordered freezing of all bank and demat accounts of these four persons, as also attachment of all moveable and immoveable properties in their name with immediate effect. Subsequently, the Sahara Group claimed that the actions taken by Sebi were based on "old facts" and the orders for attaching assets of individuals is incorrect on part of the market regulator. It also said that it has already deposited with Sebi an amount of Rs 5,120 crore that was in excess of its total liability towards refund to investors.

GOOGLE FACEBOOK JOIN HANDS

The world's two leading internet giants have set aside their rivalries and joined forces to set up the most lucrative science prize in history which is more than double the value of the Nobel Prize. Facebook founder Mark Zuckerberg and his wife Priscilla Chan are working alongside Google co-founder Sergey Brin and his wife Anne Wojcicki to create the Breakthrough Prize in Life Sciences worth USD 3 million. The project's aim is to reward research aimed at extending human life. The annual science prizes over the past year are worth USD 3 million apiece. That is more than twice the cash that accompanies a Nobel prize, the awards with which they are inevitably compared. In the first round of awards 11 scientists were awarded a total of USD 33 million but going forward an annual amount of USD 15 million will be set aside for five prize winners, The Independent reported. "Priscilla and I are honoured to be part of this. We believe the Breakthrough Prize in Life Sciences has the potential to provide a platform for other models of philanthropy, to people everywhere has an opportunity at a better future," Zuckerberg was quoted by France 24 as saying. Russian entrepreneur Yuri Milner asked the group to create the award after deciding to model a prize on a physics award he set up in 2012. To top the line-up of internet greats behind the prize, Apple chairman Art Levinson is heading up the board. Prize-winner Cornelia Bargmann, 51, said, "I had to sit down for a while, I thought it must be a practical joke. The scale of this is so outsized I think it will have a huge impact on the life sciences."

INVESTMENT GRADE TO AIRTEL BONDS

Fitch today assigned investment grade rating, with negative outlook, to Bharti Airtel's proposed billion-dollar bond sale that is in line with the company's long term rating.The negative outlook has been assigned on account of ongoing regulatory uncertainty in its Indian operations, the global credit ratings firm said. "Fitch Ratings has assigned Bharti Airtel International (Netherlands) BV's proposed foreign-currency senior unsecured notes an expected 'BBB-(EXP)' rating," the agency said."The notes will be unconditionally and irrevocably guaranteed by India's Bharti Airtel Ltd (Bharti, BBB-/ Negative) and are therefore rated at the same level as Bharti's Long-Term Issuer Default Rating of 'BBB-'," it added.Sources said Bharti Airtel is likely to meet global investors early next week for a benchmark bond sale that is expected to raise USD 1 billion. They said the company's plan to raise USD 1 billion was already shared by Bharti Enterprises Group Chief Financial Officer Sarvjit Dhillon on February 1.

HEAVY FALL AND RISE OF SNSEX

FEBRUARY 26 Sensex tanks 317 pts to 3-mth low on global woes, freight hike The BSE benchmark index Sensex today widened early losses to end 316.55 points down at 3-month low of 19,015.14, wiping out over Rs 1 lakh crore wealth as Rail Budget failed to inspire investors, already rattled by fears of worsening EU debt crisis following poll stalemate in Italy. The Bombay Stock Exchange 30-share S&P BSE Sensex resumed lower on the back of weak Asian cues following steep 216-point fall on Wall Street yesterday on concerns over Italian elections and looming spending cuts in the US. Sensex continued to reel under selling pressure breaching the 19K level to a low of 18,976.94 before settling at 19,015.14 -- a loss of 316.55 points or 1.64 per cent. This was its lowest close since 18,842.08 on November 27, 2012. Similarly, the 50-issue CNX Nifty of the NSE also plunged by 93.40 points or 1.60 per cent to end below 5,800-mark at a three-month low of 5,761.35. Presenting the Railway Budget in the Lok Sabha today, Railway Minister Pawan Kumar Bansal hiked freight tariff of less than five per cent, effective from April 1 this year. "There was nothing exciting in the budget and the freight rate hike could push up prices," said Pankaj Pandey, Head Research, ICICIdirect. 25 out of 30 Sensex-based scrips fell. Losses were led by RIL, HDFC, Tata Motors, ONGC, M&M, Bajaj Auto and CIL all of whom shed 3-4 per cent each. Mid-cap and small-cap counters bled for the second straight day today with their BSE indices losing 1.76 and 2.43 per cent respectively. Railway-linked stocks like Kalindee Rail Nirman and Titagarh Wagons fell between 8-12 per cent. The total market capitalisation tanked by Rs 1.07 lakh crore today to end at Rs 661.4 lakh crore, BSE data showed. Global markets turned out a poor performance with Asian markets ending 1-2 per cent down. European indices were trading with deep losses of of 1.5 per cent each in afternoon. "Global cues were poor today. This dragged down Indian markets," said Saurabh Mukherjea, Head of Equities, Ambit Capital. Reports said an inconclusive result to parliamentary elections in Italy sparked off fresh fears over EU debt crisis.

INSURE PREMIUMS TO COME DOWN

Insurance regulator Irda today released new mortality table for life insurance companies for fixing premium, which may lower payments towards new policies. The table called Indian Assured Lives Mortality (2006-08) will be effective from April 1, Irda said in a circular. The mortality table indicates the rate of deaths occurring in a defined population during a selected time interval, or survival from birth to any given age. According to sources, Irda's new table will lead to reduction in life insurance premium. The new table is an improvement over the existing table as it is based on the latest mortality and claim experience of different life insurance companies. The variation in mortality across regions and gender is incorporated in the latest table. The existing table is based on LIC's data alone for the period 1994-96. There has been significant improvement in mortality rates across all ages, particularly in the young age, since 1996 and the new table will be useful for insurance companies in streamlining the pricing of policies based on latest data.

GOLD DIPS BELOW 30000

Gold prices today fell below the Rs 30,000-level for the first time in seven months here due to hectic selling by stockists triggered by a global meltdown. The precious metal tumbled by Rs 480 to Rs 29,720 per 10 grams, a level last seen on July 21, 2012. Gold had lost Rs 215 in last two days. Silver followed suit and dropped by Rs 1,250 to Rs 54,550 per kg, in continuation to a loss of Rs 1,050 in last two sessions, on poor offtake by industrial units and coin makers. Bullion merchants said selling pressure gathered momentum as gold slumping to the lowest level since July in overseas markets, after minutes from a Federal Reserve meeting showed a debate over the risks and benefits of more stimulus. In Singapore, gold fell by 0.6 per cent to USD 1,555.55 an ounce, the lowest since July 12 and silver by 0.3 per cent to USD 28.47 an ounce in Singapore. In addition, sluggish domestic demand on ending of marriage season and investors selling to pay losses in equity markets, further dampened the sentiment, they said. A weak signals from futures markets on speculators reducing their exposure to bullion on falling commodities and lower Indian rupee also influenced the trading sentiment. On the domestic front, gold of 99.9 and 99.5 per cent purity tumbled by Rs 480 each to Rs 29,720 and Rs 29,520 per 10 grams, respectively. Sovereigns fell by Rs 150 to Rs 25,150 per piece of eight grams. Similarly, silver ready plunged by Rs 1,250 to Rs 54,550 per kg and weekly-based delivery by Rs 1,800 to Rs 53,300 per kg. Silver coins also dropped by Rs 1,000 to Rs 78,000 for buying and Rs 79,000 for selling of 100 pieces. WHY IT IS TUMBLING? The yellow metal, which has dropped to an seven-month low in the overseas market, fell another 1 per cent in futures market in India on Thursday, though a weak rupee limited the downside. The most active gold contract for April delivery on the Multi Commodity Exchange was trading 0.92 per cent lower at Rs 29,307 per 10 grams, after falling to Rs 29,305 earlier, the lowest level since July 23, 2012. The yellow metal dropped to an seven-month low, its third straight session of weakness, as signs that some Federal Reserve officials were reconsidering the scale and duration of the US monetary stimulus programme spooked investors. The fall in the commodity prices globally was on account of unwinding of large positions by a large commodity hedge fund. According to a WGC report, global demand for gold fell last year in its first tumble since 2009 as demand in leading market India slid, narrowing the gap with second-biggest buyer China. The report also added that India's gold demand dipped by 12 per cent in 2012 to 864.2 tonne, mainly on account of higher import duties, jewellers strike over proposed measures to curb imports and a sharp rise in the domestic price. The precious metal has gained 5.6 per cent in 2012 whereas it has declined by more than 5 per cent since the beginning of 2013. The end of quantative easing (QE) will make all the asset class to tumble badly, erasing all its earlier gains. The FOMC minutes were a major event which added pressure on the commodities. The Fed officials are concerned about the "efficacy, costs and risks of asset purchases." "An ongoing evaluation of these factors could lead the committee to control its purchases before it judged that a substantial improvement in the outlook for the labour market had occurred," India Forex said in a note. "This means that Fed officials could end quantitative easing way before they reach their 6.5 per cent unemployment target. We are not surprised that Fed officials talked about phasing out asset purchases again," said the note. India Forex Advisors is of the view that gold is in a triangular consolidation phase with resistance at $1669 and crucial support at $1600. If the support is breached on a closing basis, then further downside up to $1550-1450 is expected. According to the report, gold prices have been rallying since November 2008 till September 2011, supported by the Euro zone sovereign debt crisis and especially due to the challenges faced by countries like Greece, Portugal and Spain. "Going ahead, the levels of $1600 and $1700 will be closely watched for further direction. A break of $1600 on a closing basis will be very bearish for gold. If it breaks this level on the downside, then we might see further downside towards $1500-$1450," it added. Fiscal Deficit Concerns: In the month of January 2013, the government hiked the import duty on the precious metal by 50 per cent to 6 per cent in an effort to reduce demand and help stem the country's ballooning current account deficit. India is the world's top gold consumer and gold purchases account for one of the biggest contributors to India's current account deficit. The government wants people to cut down their gold purchases, but this will be difficult as India is the world's largest gold importer. For the upcoming Budget, a further hike in gold import duty is unlikely, but if implemented will be negative for Titan Industries.

TATA REENTRY INTO AVIATION

In the first announcement since the FDI policy for aviation was liberalised, Malaysian carrier AirAsia today said it has sought government's nod to launch a new Indian airline and has set up a joint venture with Tata Group, as well as an investment firm for the purpose. The budget carrier Air Asia Berhad said its investment arm AirAsia Investment (AAIL) "has submitted an application to the Foreign Investment Promotion Board (FIPB) to seek approval for AAIL to invest 49 per cent in a proposed joint venture with Tata Sons and Arun Bhatia of Telestra Tradeplace". The news comes two months after Air Asia denied it was bidding for a stake in no-frills carrier SpiceJet. "Subject to FIPB approval, the proposed joint venture company will make an application to Indian aviation regulators for the Air Operators Permit," the Malaysian carrier said in a statement from its headquarters in Sepang. The joint venture plans to operate from Chennai and will focus on providing domestic connectivity to Tier-II and Tier-III cities, it said. AirAsia, through its operations based in Thailand and Malaysia, flies to Chennai, Bangalore, Kochi, Tiruchirappalli and Kolkata from several destinations in the ASEAN region. While AirAsia will hold 49 per cent stake in the JV, the Tata Group will hold 30 per cent and Hindustan Aviation of the Bhatias - 21 per cent, said sources, requesting anonymity. The three parties signed the partnership agreement and submitted the proposal to the Indian government earlier this week, they said. This will mark the return of Tata to aviation. State- owned Air India had grown out of Tata Airlines, which began flights in 1932. HERE IS THE HISTORY OF TATA AIRLINES, WHICH IS KNOWN AS AIR INDIA TODAY.. Air India was founded by J. R. D. Tata in July 1932 as Tata Airlines, a division of Tata Sons Ltd. (now Tata Group). On 15 October 1932, J. R. D. Tata flew a single-engined De Havilland Puss Moth carrying air mail (postal mail of Imperial Airways) from Karachi’s Drigh Road Aerodrome to Bombay’s Juhu Airstrip via Ahmedabad. The aircraft continued to Madras via Bellary piloted by former Royal Air Force pilot Nevill Vintcent. In 1932 Air India was based out of a hut with a palm thatched roof at Juhu Aerodrome and had 1 pilot and 2 apprentice mechanics along with 2 piston engined aircraft, one Puss Moth and one Leopard Moth aircraft. Post-war expansion Following the end of World War II, regular commercial service was restored in India and Tata Airlines became a public limited company on 29 July 1946 under the name Air India. In 1948, after the independence of India, 49% of the airline was acquired by the Government of India, with an option to purchase an additional 2%.In return, the airline was granted status to operate international services from India as the designated flag carrier under the name Air India International. On 8 June 1948, a Lockheed Constellation L-749A named Malabar Princess (registered VT-CQP) took off from Bombay bound for London Heathrow via Cairo and Geneva. This marked the airline’s first long-haul international flight, soon followed by service in 1950 to Nairobi via Aden. On 25 August 1953, the Government of India exercised its option to purchase a majority stake in the carrier and Air India International Limited was born as one of the fruits of the Air Corporations Act that nationalised the air transportation industry. At the same time all domestic services were transferred to Indian Airlines (now renamed as Indian). In 1954, the airline took delivery of its first L-1049 Super Constellations and inaugurated services to Bangkok, Hong Kong, Tokyo and Singapore. Air India International entered the jet age in 1960 when its first Boeing 707-420, named Gauri Shankar (registered VT-DJJ), was delivered. Jet services to New York City via London were inaugurated that same year on 14 May 1960. On 8 June 1962, the airline’s name was officially truncated to Air India. On 11 June 1962, Air India became the world’s first all-jet airline. In 1971, the airline took delivery of its first Boeing 747-200B named Emperor Ashoka (registered VT-EBD). This coincided with the introduction of the ‘Palace In The Sky’ livery and branding. A feature of this livery is the paintwork around each aircraft window, in the cusped arch style of windows in Indian palaces. In 1986 Air India took delivery of the Airbus A310-300; the airline is the largest operator of this type in passenger service. In 1988, Air India took delivery of two Boeing 747-300Ms in mixed passenger-cargo configuration. Early 1990s In 1993, Air India took delivery of the flagship of its fleet when the first Boeing 747-400 named Konark (registered VT-ESM) made history by operating the first non-stop flight between New York City and Delhi.In 1994 the airline was registered as Air India Ltd. In 1996, the airline inaugurated service to its second US gateway at O’Hare International Airport in Chicago. In 1999, the airline opened its dedicated Terminal 2-C at the renamed Chhatrapati Shivaji International Airport in Mumbai. 2000 – present In 2000, Air India introduced services to Shanghai and to its third US gateway at Newark Liberty International Airport in Newark. In May 2004, Air India launched a wholly owned low cost airline called Air-India Express.

FDI GRAPHS

LUXURY ON WHEEL BUS

Noted auto designer Dilip Chhabria's state of the-art bus with luxurious reclining seats for nine people, facilities like on-board spa with trained therapists, galley to serve hot and cold food and beverages, wi-fi enabled entertainment sysytem and a washroom, will flag off from New Delhi in two weeks. Popular Indian CV maker Ashok Leyland Ltd and Toofles Foundation launched the new Ashok Leyland Luxura Magical India Bus, which is said to be a unique concept being introduced for the first time in the country. Chhabria whose company had created the first prototype for the Aston Martin Vanquish that appeared in the James Bond movie 'Die Another Day' has also designed vanity vans for Bollywood stars such as Sanjay Dutt, Shah Rukh Khan. "The amazing luxury bus has been modelled on the lines of a private jet. It is proven beyond doubt, if you are able to offer luxury, entertainment much cheaper than a private jet, I'm sure it will multiply as people would come to know," said Chhabria. Except unfriendly "uplands" the bus is available for charter for any location for a day or for an overnight trip to Agra, Jaipur, Neemrana or any of the numerous travel destinations in and around Delhi. Tariffs for the bus have been designed according to market standards and to charter a bus from Delhi to Agra and return by evening would cost Rs 65,000. Mann Travels, with a fleet of over 250 cars in Delhi, are the operating partners of the project which has two charity charity partners along with Park Hotels, which is providing hospitality. The Luxura Bus will be contributing 50 per cent of the chartered fee to charity partners, 'Goonj' and Chennai-based Cancer Institute. "People have to come and see the sufferings of the family in the Cancer Institute, its good to receive a bit of cut from extravagant expenditure for a humanitarian cause," said Dr Sharma of the Cancer Institute who was present at the inauguration yesterday. 'Goonj', an organisation that highlights clothing as a basic but unaddressed need in the country channelises over 1000 tonnes of clothing every year to 21 states. "We have been operating with expertise in the field of tours and travels, I wanted to grab the opportunity to operate this project because of the social angle, where we can give for a noble cause," says Paramjeet Mann of the Mann Travels. Madhabi Puri Buch, the founder of Toofles Foundation says they have only one Luxura bus as of now but have plans to increase their numbers. "We have already five family bookings, for later this month, we envisage more family bookings, business trips and exclusive foreign guests," Madhabi adds.

DIGITAL DATA AS TALL AS MOUNT EVEREST

Digital data generated by India last year, which if stored in Apple's iPhone 5 with 32 GB space, will equal over 5,100 stacks of the device, as tall as Mount Everest, a study by EMC-IDC said today. "India's digital information in 2012 would equal to more than 5,100 stacks of iPhone 5 devices that are as tall as the sub continent's famed Mt Everest," an EMC-sponsored IDC digital universe study said. The world's tallest peak, Mount Everest stands at 8,848 meters. India's share of digital information is expected to grow 23-fold between 2012-2020, driven by continued growth of Internet usage, social networks, and smart phones among consumers, falling cost of technology, digitisation among others, the study said. "The digital bits captured or created each year in India are expected to grow from 127 EB (exabytes) to 2.9 ZB (zettabyte) between 2012 and 2020," it added. One EB has 18 zeroes after 1 and ZB has 21 zeroes. However, less than half a per cent of all digital information is analysed today while 36 per cent would provide valuable insights, it said. "India's digital transformation is happening at a rapid pace exposing gaps in technology investments that exist in enterprises today. Less than half a per cent of digital information is analysed today; business and government need to recognise this and invest in understanding and tapping it," EMC India and SAARC President Rajesh Janey said. The study said that India's digital universe is growing much faster than available storage. "While in 2012 only 1 exabyte of storage capacity was available for every 3.4 exabytes of data, by 2020, data is expected to grow almost thrice to 9.4 exabyte for every exabyte of available storage," it said. It also highlighted that India spent USD 0.87 per GB to manage data, which is much lower than China, US and Western Europe. The study said cloud adoption is growing fast and by 2020, 42 per cent of all digital information will be "touched" by the cloud. "As companies are increasingly under pressure to better manage their business and align closer to their customers' needs, companies are increasingly turning to highly leveraged storage cloud to enable them to run complex business analytics that can be accessed by a broad range of client devices," IDC India Research Director Venu Reddu said.

S&P SENSEX HEREAFTER

Premier bourse BSE has roped in S&P Dow Jones Indices to use the S&P brand for Sensex and other indices such as BSE 200 and BSE 100, a week after expiry of the global financial major's pact with rival exchange NSE. BSE benchmark Sensex will now be managed and operated by the new JV to be known as S&P BSE Sensex and effective today, all the BSE indices, including BSE 100 and BSE 200, will be co-branded "S&P". Besides, these indices would join S&P Dow Jones Indices' other iconic financial market indicators such as the S&P 500, the Dow Jones Industrial Average, the S&P/TSX 60, and the S&P/ASX 200. "Over the years, BSE was lagging behind making Sensex tradable. We expect our partnership with S&P Dow Jones Indices will help BSE raise the global acceptance of the Sensex and other index benchmarks, and help BSE achieve a leadership position in the index derivatives space," BSE MD and CEO Ashish Chauhan told reporters here today. "We have entered into a long-term strategic partnership with S&P Dow Jones Indices and will share revenues on 50:50 basis," Chauhan said. Established in 1875, 137 years ago, BSE Ltd. (formerly known as Bombay Stock Exchange Ltd.) is Asia's first Stock Exchange. The partnership would allow S&P Dow Jones Indices to implement its South Asia growth strategy and also permit S&P Dow Jones Indices to have a fourth major operational hub by which to support clients globally after operations in Hong Kong, London and New York. As of December 31, 2011, more than USD 1.5 trillion was directly indexed to S&P Dow Jones Indices' family of stock market indices. The deal with BSE comes soon after the expiry of the licencing arrangement between India Index Services & Products (IISL), a joint venture of NSE and S&P-owned Crisil. S&P, last week, ended its licencing agreement for the indices of the National Stock Exchange and the bourse can not now use S&P name for any of its products. "This partnership expands BSE and S&P Dow Jones Indices' presence in India and in South Asia, while providing a springboard for our efforts in the ASEAN region with an important exchange partner that understands this critical segment of the market," S&P Dow Jones Indices Chief Executive Officer Alexander Matturri said. S&P Dow Jones Indices LLC, a subsidiary of The McGraw-Hill Companies, Inc, is the world's largest, global resource for index-based concepts, data and research.

Kolkata has maximum borrowers in 35 plus yrs bracket

More than 70 per cent of credit seekers are less than 35 years of age in Bangalore, while Kolkata has the maximum number of borrowers who are above 35 years, according to credit tracking agency CIBIL. CIBIL data showed that auto loans were the most enquired product, contributing 20 per cent of all enquiries, followed by credit cards. According to an analysis by the Credit Information Bureau (India) Ltd (CIBIL), all India figures as on November 2012 show that more than 50 per cent of applicants for new credit are less than 35 years of age. "While in a city like Bangalore, more than 70 per cent of credit applicants are less than 35 years of age, Kolkata has the highest percentage of borrowers who are more than 35 years of age - only 49 per cent in Kolkata are less than 35 years of age," CIBIL managing director Arun Thukral told reporters here. Thukral said that lenders now consider CIBIL score as a crucial parameter before extending loans to individuals and data show that there has been a reduction in delinquencies over the past three years. "CIBIL credit information report and CIBIL TransUnion Score are leveraged for credit decisioning by every large credit institution in India. It reduces non-performing assets and improves profitability of credit institutions," he said. "Moreover, increased usage of the CIBIL report and score largely benefits borrowers who are financially disciplined as they can obtain credit at better terms". Thukral further said that post the financial crisis, financial institutions are making more enquiries about credit profile of entities and there has been a shift in their credit extending behaviour. "Earlier, banks used to give loans to borrowers with a score of around 600 out of 900 in the CIBIL profile rating, but now they prefer those with a rating of above 800. Sixty per cent of loans are given to people with 800 plus score," he said. CIBIL data showed that auto loans were the most enquired product, contributing 20 per cent of all enquiries, followed by credit cards. "The quarter-on-quarter trends on credit activity also revealed that for the first tome in Q4, 2012, credit cards and personal loans showed an increase in percent contribution to total credit applications indicating that the demand for unsecured loans is on a rise," he said. CIBIL maintains credit information of more than 22 crore consumers and one lakh businesses. CIBIL score helps borrowers gauge their current financial position and improve their chances of acquiring a loan.

DIESEL PRICE GRAPHS

PETROL PRICE GRAPHS

LPG PRICE GRAPHS

GDP GRAPHS

ONGC RECORD

State-owned Oil and Natural Gas Corp (ONGC) today said drilled a well in record water depths using a rig it had hired from Reliance Industries. "ONGC's chartered-hired ultradeep water drillship DDKG1 has set a world record for drilling well in deepest water depth by an offshore drilling rig," the company said in a statement here. The rig DDKG1 has spudded well NA7-1 in exploratory block KG-DWN-2004/1 in east coast India at a water depth of 3165 metres (10,385 feet) on January 23. "Thereafter it successfully lowered and latched subsea (facilities) on February 09 to drill further to target depth 5625 metres," it said. The rig owned by Transocean surpassed Transocean's own prior record of 10,194 feet of water depth, set in 2011 by DDKG2 working for Reliance Industries on the east coast.

NO MONITORY EASING IN NEAR TERM

The Reserve Bank today said there is a limited scope for easing of monetary policy over the next few months as there is a risk of inflation escalation as well as concerns over fiscal and current account deficits. "There is room for monetary easing over the next few months, but that room is limited because of the outlook for inflation and outlook for growth," RBI Governor D Subbarao told CNBC TV18 here. He is in Russia to attend the meeting of G-20 Finance Ministers and heads of central bank governors. The Governor said the RBI would also take into account the fiscal consolidation measures and deficit projections by the Finance Minister in the upcoming Budget to decide on the monetary policy action. "Important variable for monetary policy calibration is the fiscal adjustment that the government will do. The government will come up with deficit status in the Budget. We will look at the headline fiscal deficit number but also look at the quality of the fiscal adjustment," Subbarao said. The Finance Minister will present the 2013-14 Budget in the Lok Sabha on February 28. The government aims to restrict fiscal deficit in the current financial year at 5.3 per cent of GDP and bring it down to 4.8 per cent in 2013-14. Although the WPI-based inflation in January has come down to 6.62 per cent, lower than RBI's March end projection of 6.8 per cent, Subbarao said the high Current Account Deficit (CAD) could escalate inflationary pressures. "Our monetary policy stance is going to be determined by a number of factors, including how inflation will unfold. There are number of risk factors for inflation. The most important is the current account deficit ... "We will need to take that into account for our monetary policy calibration," he said. Subbarao said the CAD in the current fiscal is expected to be at the highest level. CAD, which is the difference between inflow and outflow of foreign currency, was 4.2 per cent in 2011-12 fiscal. It touched a record high of 5.4 per cent in July- September quarter of current fiscal. "There is pressure on the government to consolidate fiscally. There is pressure on the central bank to bring about an environment of price stability, and for the government to understand that we need fiscal consolidation, price stability for long-term growth," Subbarao said. As per RBI's estimate, the economic growth in the current fiscal would be 5.8 per cent, while the Central Statistical Organisation has estimated it at 5 per cent.

NO ROLEBACK IN PETRO, DIESEL PRICES

Oil Minister M Veerappa Moily today ruled out a roll back in the Rs 1.50 a litre hike in petrol and 45 paisa per litre increase in diesel rates saying only a small raise has been passed on to consumers. "No, No," was he refrain when asked if the government will consider rolling back last week's increase. "Our country imports 73-75 per cent of oil. We need to pay Rs 7 lakh crore for the imports. Where do we find that kind of money," he said. The first hike in petrol price in over three-and-a-half months and the second rise in diesel rates in one month exclude local sales tax or VAT, making the cost for consumers even higher. Petrol price in Delhi went by Rs 1.80 to Rs 69.06 per litre from February 16. Diesel rates went up by 51 paise to Rs 48.16 a litre. "I think everybody would appreciate that we have not put a lot of burden on consumers. It is only small doses," Moily said. The increase in auto fuel prices, which come on back of a similar small hike in diesel price last month, is expected to fuel inflation that stood at three-year low of 6.2 per cent in January. And there has been demands for a rollback. "The money (to pay for oil import) can be either found by raising taxes or passing it on to the consumers," he said. Indian Oil Corporation (IOC), the nation's largest fuel retailer, announced an increase of Rs 1.50 per litre in petrol price as international benchmark oil prices climbed 7.5 per cent. The diesel rate was raised in line with last month's government decision to allow oil firms to raise prices in small doses every month till over Rs 10 a litre loss on sale of India's most consumed fuel is totally eliminated. Even after last week's and a similar hike effected on January 18, oil firms will continue to lose Rs 10.27 a litre on diesel as cost of raw material (crude oil) has risen by 4 per cent to USD 113.24 per barrel. "Whenever there is over-recovery (profit on sale of petrol), we have made it clear that it has to be passed on to consumers. So last month you saw a 25 paisa reduction in rates," Moily said. Prior to February 16 hike, petrol price was last revised on January 18 when the rate was cut by 25 paise a litre. After including VAT, this translated into a reduction of 30 paise to Rs 67.26 a litre in Delhi. The reduction in rates on that day coincided with the government decision to give oil firms freedom to raise diesel prices in small monthly doses to eliminate all of the losses on the fuel. Oil firms hiked diesel price on that day by 45 paise, which after including VAT led to a 50-paise increase to Rs 47.65 a litre in Delhi. The price of petrol was last hiked on October 27 when rates went up by 29 paise after government raised commission paid to petrol pump.

INDIA INC ON HIGH HOPES

India Inc expects biz sentiment to improve in coming months Expecting pro-growth announcements in the upcoming Union Budget, Indian corporates are optimistic on improvement in business conditions in the coming months, two independent surveys have said. Majority of Indian corporates, surveyed by Ficci and PHD Chamber of Commerce and Industry, separately, said that the mood among corporates is optimistic and they expect better business conditions, which would lead to more sales and higher profit margins in the next six months to three years. Ficci, in its Business Confidence Survey, said majority of respondents are positive about the next two quarters (January-June 2013) as they expect pro-growth announcements in the upcoming Union Budget. The respondents also said they are hopeful that green shoots would soon appear as the government continues to move ahead on the reform agenda, it said. "Though the economic situation continues to be difficult and business sentiment remains weak, we will be pro-growth and give a renewed thrust to capital formation," Ficci President Naina Lal Kidwai said. Sharing similar views, PHD Chamber said in its study that the long-run prospects of business in the country seem bright as majority of corporates have plans to expand their businesses in next three years. It said effective policy interventions and reform initiatives would pave the way for greater investment intentions by corporates. "The time is most opportune to provide greater policy environment that will reassure investors' confidence with promises to open more avenues for projects, policies, products and partnerships," PHD Chamber of Commerce and Industry President Suman Jyoti Khaitan said. Besides, both the surveys stated that corporates feel that recent steps by the RBI to reduce the repo rate and Cash Reserve Ratio (CRR) would help revive investors' sentiment and accelerate investment in the near future. Shedding its nine-month long hawkish monetary policy stance, the RBI has cut short-term lending rate called repo by 0.25 per cent to 7.75 per cent and CRR by similar margin to 4 per cent. Further, Ficci in its study said that factors like weak external demand, rising cost of raw-material, high interest rates and lower investments continue to nag corporates. The survey stated that business confidence of Indian companies declined slightly to 61.2 during October-December 2012-13, from 62.4 in the previous quarter (July-September).

CNG NANO ON IT'S WAY

Tata Motors plans to introduce a refreshed model of the Nano car in the first half of this year and a CNG option 'very soon'. The company, however, said it has not yet frozen a timeline for the launch of the diesel option of the Nano although it is ready with the vehicle. The new Nano will have a lot more additional features, which would enhance the positioning of the car as an aspirational vehicle Tata Motors Managing Director Karl Slym told. About the diesel variant Slym said: "In future, we will definitely introduce that but we have not fixed a date as yet. The vehicle is there though." Former chairman of the Tata Group, Ratan Tata, who was the driving force behind the Nano, had admitted that the small car had missed initial opportunities. "We were not prepared to market the car as we should have. I think that has a lot to do with the fact that momentum got lost," he told PTI in an interview last year. Tata had also listed out the reasons due to which Nano, nick-named 'The people's car', could not realise its full potential as the momentum got lost in initial years due to issues like plant transfer and insufficient advertising campaign and dealership network. He had said the issues are being addressed, and the Nano was being 'refreshed' to realise its full potential.

Demand for Gold Dental fillings dips

Preference for gold in dental fillings appears to be on the wane as demand for the precious metal for dentistry use hit the lowest level in 2012 in at least five years. Global gold demand for dentistry was 39.9 tonnes in 2012, the lowest level in past five years, according to World Gold Council data. The demand was 43.4 tonnes in 2011, 49.8 tonnes in 2010, 52.7 tonnes in 2009 and 55.7 tonnes in 2008, the data showed. "The dental filling used is made of an alloy of gold. The use of gold in dental fillings has become very rare nowadays. Substitute materials have gained popularity. An average gold dental filling still doesn't cost more than Rs 500," said Tarun Rajput, a dental practitioner. Gold filling has advantages of durability and strength but a major disadvantage is perception of poor aesthetics. "Substitution to base metals most notably cobalt:chrome and to a lesser extent, ceramic led to an 8 per cent decline to 39.9 tonnes. On a value basis, demand for gold for the purpose slipped 2 per cent to USD 2.1 billion," WGC, the market development organisation for gold industry said. Data for gold use in dentistry before 2008 was not immediately available on WGC website. Although gold remains an important material in dentistry, its use by dentists is slowly declining. Use of new ceramics and cheaper base metal alloys have increased at the expense of gold-based restorations, Rajput said.

AMARTYA GETS FRANCE HIGHEST HONOUR

Hollande bestows France's highest honour on Amartya Sen New Delhi, Feb 15 (PTI) Calling Amartya Sen the "greatest humanist" and a "great thinker", French President Francois Hollande today bestowed his country's highest decoration on the Nobel Prize-winning celebrated economist for his contributions to economics and philosophy. Conferring 'Commandeur de la Legion d'Honneur' (Legion of Honour) after delivering the Madhavrao Scindia Memorial Lecture here, Hollande lavished praise on Sen and quoted extensively from his works that speak about problems faced by the poorest sections of the society. "I am extremely honoured as I have great admiration for French culture and civilisation. The President's connection with socialism is a chilling part of receiving this honour from him," the 79-year-old Nobel Laureate told the audience that gave a standing ovation to him twice during the ceremony. The French President said he considered it a "great privilege" to bestow the honour on Sen "who is an economist, socialist, humanist and a great thinker." "His works help improve the lives of people. He was an Indian by birth and was an Indian at heart as well though he travelled and worked in far-away West," he said before he gave away the honour. Sen is a "teacher" for everyone and "strength of the nation", the President said and hoped that he would continue to do service to the global community. "This is with a lot of emotion that I bestow this honour on him," Hollande said as the audience gave a standing ovation to Sen. In his speech, Sen spoke of his admiration for the French civilisation and recalled the then President Nicolas Sarkozy's move to appoint a commission headed by him and another Nobel Prize wining economist Joseph Stiglitz. "Though he knew am a socialist and that he does not subscribe to my views, he was gracious to accept my recommendations," Sen said.

PURSUE POLICY INITIATIVES TO IMPROVE CAD

India will have to pursue domestic policy initiatives to help achieve any near-term improvement in its current account deficit as global growth may only be slightly better in 2013 and commodity prices are unlikely to ease sharply, Moody's Investor Service said. While recent government moves to cut subsidies and woo foreign investment would help narrow the external deficit, these policies need to be persisted for any significant success, it said in a note dated February 14, issued just two weeks before India's annual budget on February 28. India posted its second highest ever monthly trade deficit of $20 billion in January as imports surged to record highs, piling pressure on a widening current account deficit and limiting scope for the central bank to cut interest rates for an economy expanding at its slowest pace in a decade. The current account deficit hit an all-time high of 5.4 percent of gross domestic product in July-September due to slowing exports and heavy oil and gold imports. The gap is expected to widen further in the subsequent quarter, data for which is due in March. Moody's said it would be watching the assumptions underlying India's budget deficit target for the new fiscal year that begins on April 1, as well as the expenditure and revenue policies announced in order to meet that goal. "Policies that trigger private investment and curb inflationary pressures in the near term are more likely to help narrow the account deficit," it said. "Deficit targets based on an assumption of accelerating growth rates are more likely to be missed, leading to higher government borrowing requirements and likely inflationary pressure, both of which have negative implications." The rating agency will also monitor whether the policy changes shift the composition of current account financing in favour of foreign direct investment, or whether external debt inflows accelerate faster than investment flows. "If funding for the current account deficit shifted away from external debt and towards foreign direct investment, the sovereign credit profile would benefit," it said.

GOLD DEPOSIT SCHEME MADE MORE ATTRACTIVE

Seeking to unfreeze idle gold, the RBI on 14th February...made the Gold Deposit Schemes of banks more attractive by lowering the investment time period and allowing mutual funds to participate in the scheme. "It had now been decided to change the maturity period, of gold deposit schemes, ranging from six months to seven years," the RBI said in a circular. Earlier the maturity period for the said scheme was between three to seven years. As per the estimates of an RBI committee, about 20,000 tonnes of idle gold is lying with the people. The central bank wants to channelise the idle gold for productive purposes and also check the demand for imports. Further, Sebi registered mutual funds and exchange traded funds may deposit under the scheme, RBI said. It further said the banks would not be required to obtain prior approval of RBI for introducing the scheme. However, they would be required to inform the details of the scheme, including name of branches operating the scheme, to the central bank. These changes follow the announcement of the Finance Ministry last month to link the gold Exchange Traded Funds (ETFs) of mutual funds with gold deposit schemes of banks with a view to increase domestic availability of physical gold. Rising gold imports have been a major concern for the government as it contributes substantially to the widening Current Account Deficit (CAD). The CAD, which is the difference between the inflow and outflow of foreign currency, had touched a record high of 5.4 per cent of GDP in July-September quarter. Gold imports till December stood at USD 38 billion. In 2011-12 fiscal, the import was USD 56.5 billion. A RBI committee had also suggested that government impose limits on gold import by banks and other institutions, which account for 56 per cent of the total gold import.