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West Indies cancels ongoing tour of India, SL to play five-ODI series in November

 
Sri Lanka accepts India's invite to play ODI series
The West Indies Cricket Board (WICB) has cancelled the rest of its ongoing tour of India because of a payment structure dispute with its players, following which the Board of Control for Cricket in India (BCCI) that the Sri Lankan team would play a limited-overs series in India in November.
 
A press release from the BCCI said this evening that the WICB had informed it of its decision and that its players would return home immediately.
 
"The BCCI is shocked and extremely disappointed at the decision taken by the WICB. The WICB’s inability to resolve internal issues with its players and allowing the same to affect an ongoing bilateral series does not reflect well on any of those involved. The withdrawal gives little thought to the future of the game, the players and the long standing relations between the BCCI and the WICB," BCCI Secretary Sanjay Patel said.
 
"The BCCI wishes to inform all its stakeholders, especially ardent fans of the Indian cricket team, that this is a unilateral decision taken by the WICB and its players, in spite of several appeals to the WICB to honour its commitment and complete the series.
 
"The BCCI will pursue all options available to protect its rights, whilst seeking appropriate action from the ICC to ensure that its interests and those of the game at large will not suffer any damage due to such acts of indiscretion," he added.
 
The BCCI said Sri Lanka Cricket, with whom it had commenced discussions immediately after the WICB made known its decision, had confirmed a five-match ODI series between India and Sri Lanka, to be played from November 1.
 
"The series promises to be an exciting one, with Sri Lanka placed 4th in the world rankings in ODIs. India is ranked 3rd, with only 2 points separating the teams," Patel said.
 
"The BCCI wishes to thank SLC for its swift response and for extending its support to ensure that the international cricket season is not curtailed. 
 
"The details of the venues and fixtures will be announced soon," he added. 
 
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In St. John's Antigua, the WICB issued a statement, after an emergency meeting of its Board of Directors, saying that it was left with no option but to advise the BCCI that it would no longer be able to provide a West Indies team for the remaining five matches of the tour (the 5th ODI, a T20 International and three Test matches).
 
It said the players of its team, represented by skipper Dwayne Bravo, had indicated to it that they had taken a decision to withdraw their services for the remainder of the tour of India.
 
"The WICB wishes to further clarify that its proposed alternative arrangement of a replacement West Indies team was not considered acceptable. The WICB is understanding of this position. 
 
"The WICB unreservedly apologises to West Indian fans and all cricket fans for this most regrettable situation and the premature end to the tour.
 
"The WICB unreservedly apologises to the BCCI, their sponsors, broadcasters and other stakeholders for the premature end to the tour," the statement said.
 
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CMC Limited amalgamates with Tata Consultancy Services

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IT services and consulting major Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS) has announced that the Board of Directors of TCS and its CMC Limited (CMC) yesterday approved the amalgamation of CMC with TCS pursuant to the provisions of Sections 391 to 394 of the Companies Act, 1956. 
 
As per the terms of the Scheme of Amalgamation (Scheme), shareholders of CMC will receive 79 equity shares of Rs 1 each of TCS for 100 equity shares of Rs 10 each of CMC. 
 
The swap ratio has been arrived at based on the valuation report prepared by B.S.R. & Associates LLP, a press release from the company said here yesterday.
 
After the amalgamation, the paid-up share capital of TCS will increase from Rs 195.87 crore to Rs 197.04 crore. The scheme is subject to, court, regulatory, shareholders and other necessary approvals, the release said.
 
The consolidated revenue of TCS, for the quarter ended September 30, 2014, was Rs 23,816.48 crore, with profit after tax of Rs 5,244.28 crore based on Indian GAAP. For the same period, the consolidated revenue of CMC was Rs 616.68 crore with profit after tax of Rs 76.00 crore based on Indian GAAP.
 
CMC, where TCS holds a 51.12% stake, is engaged in the design, development and implementation of software technologies and applications, providing professional services in India and overseas, and procurement, installation, commissioning, warranty and maintenance of mported/indigenous computer and networking systems, and in education and training.
 
The amalgamation will enable TCS to consolidate CMC’s operations in a single company with rationalized structure, enhanced reach, greater financial strength and flexibility aiding in achieving economies of scale, more focused operational efforts, standardization and simplification of business processes and productivity improvements, the release added.
 
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Star Group wins 8-year cricket broadcast deal with ICC for 18 events

A view of the ICC headquarters in Dubai
A view of the ICC headquarters in Dubai
The Star Group today said it had signed an eight-year global cricket broadcast contract with the International Cricket Council (ICC) that will cover six major events, including two back-to-back ICC Cricket World Cups.
 
The network had held the rights for all of cricket’s marquee multinational events during the previous eight years and with this contract, it will continue doing so for the next eight years until 2023.
 
In all, the contract signed between ICC and the Star Group, including Star India and Star Middle East, provides for rights to 18 ICC tournaments, including the 2019 and 2023 World Cups, two ICC Champions Trophy tournaments (2017 and 2021) and two ICC World Twenty20 tournaments (2016 and 2020).
 
A press release from Star said the contract was won following a robust tender, bidding and evaluation process which started in July.
 
Star was selected over 17 other competitive bids from various broadcasters across different territories. 
 
"This deal reinforces Star’s outstanding reputation as a global sports broadcaster and reiterates its profound commitment to the game of cricket. With its unparalleled broadcast network within India and robust global broadcast partnerships, Star will continue to provide an unprecedented viewing experience to cricket fans across the world," the release said.
 
Mr Uday Shankar, CEO, Star India, said: “We are delighted and honoured to extend our partnership with ICC. This is a tribute to Star's commitment and ICC's trust in our ability to take the great game of cricket to the next level. Star will constantly attempt to reinvent the viewer experience to make cricket bigger and bigger.”
 
ICC Chairman Mr N. Srinivasan said, “Star has an outstanding reputation as a sports broadcaster and has played an integral role in promoting and growing the game by taking coverage of ICC Events to a truly global and record-breaking audience. This commitment for the next eight years will ensure greater stability for ICC Members as well as increased funding for developing and established countries. The level of investment committed by Star shows that the game is stronger than ever before and hopefully with this financial stability for the next eight years, we can implement plans to strengthen and grow the game further, making it an even bigger and better global game.”
 
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According to the release, the following ICC major global events are included in the audio-visual rights packages:
 
ICC World Twenty20 2016 – India
ICC Champions Trophy 2017 - England and Wales
ICC Cricket World Cup 2019 - England and Wales
ICC World Twenty20 2020 – Australia
ICC Champions Trophy 2021 – India
ICC Cricket World Cup 2023 – India
 
ICC qualifying events:
 
ICC World Twenty20 Qualifier 2015 - Ireland and Scotland
ICC Cricket World Cup Qualifier 2018 – Bangladesh
ICC World Twenty20 Qualifier 2019 – TBC
ICC Cricket World Cup Qualifier 2022 - Zimbabwe 
 
Other ICC events:
 
 ICC U19 Cricket World Cup 2016 – Bangladesh
ICC Women’s World Cup 2017 - England and Wales
ICC U19 Cricket World Cup 2018 - New Zealand
ICC Women’s World Twenty20 2018 - West Indies
ICC U19 Cricket World Cup 2020 - South Africa
ICC Women’s World Cup 2021 - New Zealand
ICC U19 Cricket World Cup 2022 - West Indies
ICC Women’s World Twenty20 2022 - South Africa
 
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Tata Value Homes launches e-commerce platform for home buying

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Tata Value Homes, a wholly owned subsidiary of Tata Housing Development Company, has announced the launch of an e-commerce platform for home buying", which will allow global access to its properties in India. 
 
The new platform, said to be the first of its kind in the world, would enable buyers across the world to book homes in three  steps: Select Location – Review Details – Book online for just Rs 30,000 under the inaugural offer of One Price One Nation.
 
A press release from the company said the offer would start at 10 am on October 15.
 
Under the offer, customers will be able to buy a particular unit at a flat price across Ahmedabad, Bangalore, Mumbai, Pune and Chennai. All 1 BHKs will be priced at Rs 29.9 lakhs, 2 BHKs at Rs 39.9 lakhs, 2 BHK large at Rs 49.9 lakhs and 3 BHKs at Rs 59.9 lakhs.
 
The release said Tata Value Homes has sold over a million sq. ft of residential space, which translates into over 700 units, generating over Rs 300 crores worth of revenue in the value and affordable housing segment. 
 
"Statistics also revealed a paradigm shift towards young investors and home buyers. The average age of buyers has decreased by a couple of years to 29-42 years in 2014 as compared to 31-45 years in 2013," it said.
 
The release said an analysis of customers who had booked Tata Value Homes online in the last year had shown that 39% of the customers, who booked homes online, did so with intent to live in them with their families. 
 
Around 59% of the customers who booked homes online did not consult any brokers or salesmen while making the bookings online. Around 56% of online customers considered the information made available to them online adequate to make an online transaction. Most notably, for 39% of the customers who booked homes online, a Tata Value Homes was their very first online purchase, it said.
 
Mr. Brotin Banerjee, MD & CEO of Tata Housing said, "Evolution of Indian consumer over the years to embrace the e-commerce platforms has opened up the market for consumers across the globe. With the increasing internet penetration, the new platform builds on the vision of being the largest provider of homes".
 
"We have invested in the research and technology which ensures transactional safety, quality and transparency. With this launch we have simplified the platform which makes purchasing homes accessible to Indians, across the world," he said.
 
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The release said Tata Value Homes has witnessed a rising appetite for online sales from tier II markets, which has jumped from 11% in December-January 2013 to 30% in January-October 2014. The online buyers have been from tier II cities in India which included Patna, Chandigarh, Ranchi, Jaipur, Indore, Vadodara, Surat, Mangalore, Mysore, Bangalore, Coimbatore, Tiruchirapalli,  Bhubaneswar and Leh, amongst others.
 
NRIs have been strong evangelists of the online platform with 25% of buyers (between January –October 2014) being from the international markets of the United States of America, United Kingdom, the United Arab Emirates (UAE), South Africa, Malaysia, Singapore, Hong Kong and Australia. The boost from this segment has seen a tremendous surge, from a 12% contribution to online sales in 2013 (January-December) to 25% this year, the release added.
 
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Kotak Mahindra launches bank agnostic funds transfer platform for Facebook users

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Kotak Mahindra Bank (KMB) today announced the launch of KayPay, the world’s first bank agnostic payment product for Facebook users to send money to each other in an instant round the clock.
 
A press release from the private sector bank said bank account holders can now transfer money to each other at any hour of the day or night, without needing net banking, or knowing various bank account related details of the payee. 
 
"KayPay enables over 250 million Indian bank account holders transfer funds to each other instantly by just choosing recipients from their Facebook friends list," it said.
 
According to the release, KayPay offers a safe and secure platform to transact on the social networking site through a two-level authentication – Facebook user id & password and a One Time Password (OTP). Further, both sender and receiver immediately receive notifications via SMS and on Facebook about the transfer. 
 
Shanti Ekambaram, President – Consumer Banking, Kotak Mahindra Bank, said, “KayPay is a revolutionary digital banking innovation that leverages social media to offer a better and secure payment platform to all. KayPay is bank agnostic, facilitating transfer of funds instantly. The convenience of not having to know payee details breaks down all barriers of a process, which otherwise requires a host of information that one may not necessarily have handy.”
 
"We are constantly working to deliver seamless and convenient banking solutions across all channels, especially digital banking, to the entire community," she added.
 
The release said that, as a one-time process, users need to register their existing bank accounts, which participate in the IMPS (Immediate Payment System) P2M Pull platform by National Payment Corporation of India, on Facebook or www.kaypay.com. 
 
Currently, KMB is offering KayPay at no cost to users, the release added.
 
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Reliance reports 1.7% rise in net profit to record Rs 5972 crore in Q2

Reliance logo
Energy and petrochemicals major Reliance Industries Limited (RIL) today reported a 1.7 per cent increase in net profit to a record high of Rs 5972 crore in the second quarter (Q2) of financial year 2014-15 from Rs 5,873 crore in the same quarter of the previous year.
 
Reporting its financial performance for the quarter ended September 30, the company said in a press release that the record profit was recorded despite the fact that its revenue (turnover) had decreased by 4.3 per cent to Rs 113,396 crore in the period as compared to Rs 118, 439 crore in the corresponding period last year.
 
The company attributed the fall in revenue to lower curde prices and volumes, mainly in the refining and oil & gas business.
 
The company said its half-yearly consolidated net profit had gone up by 7.4 per cent to a record Rs 11,929 crore in the first half of the financial year.
 
“RIL’s financial performance for the period stands testimony to the intrinsic strength of our integrated business operations. The refining and etrochemical businesses, once again, delivered robust results, outperforming regional industry benchmarks," RIL Chairman and Managing Director Mukesh D. Ambani said.
 
"Renewed optimism in the domestic economy augurs well for business and consumer confidence particularly against the backdrop of continuing concerns on global economic growth. We expect to create significant value for our stakeholders over the next 12-18 months as we complete our large investment programme across energy and consumer businesses. These projects will propel the next phase of growth for India and Reliance," he said.
 
The release said the company's exports from India were lower by 14.7 per cent at Rs 66,065 crore ($ 10.7 billion) as against Rs 77,428 crore in the corresponding period of the previous year. 
 
Cost of raw materials was lower by 12.9% from Rs 93,933 crore to Rs 81,815 crore ($ 13.2 billion) on year-on-year (Y-o-Y) basis mainly on weaker crude oil prices, lower crude processed in refinery and lower blending and trading activity in the United States during the second quarter.
 
Other income was lower at Rs 2,009 crore ($ 325 million) as against Rs 2,346 crore in corresponding period of the previous year, primarily on account of lower investible surplus.
 
The company said its gross refining margins (GRM) for the quarter stood at $ 8.3/bbl as against $ 7.7/bbl in the corresponding period of the previous year. 
 
The company's outstanding debt as on 30th September 2014 was Rs 142,084 crore ($ 23.0 billion) compared to Rs 138,761 crore as on 31st March 2014. 
 
Cash and cash equivalents as on 30th September 2014 were at Rs 83,456 crore ($ 13.5 billion). 
 
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Ramesh Ramanathan elected chairman of All India Resort Development Association

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Mr Ramesh Ramanathan, Managing Director, Sterling Holiday Resorts (India) Limited, has been elected as chairman of All India Resort Development Association (AIRDA) at its recently held annual general meeting.
 
AIRDA is an independent, non-profit advisory body set up by the vacation ownership industry. It functions as a self-regulatory body and provides guidance to all stakeholders. This includes customer guidance and protection. AIRDA also guides new entrants to the industry and existing players. 
 
"AIRDA’s mission is to provide a platform for the industry to work together and address opportunities for growth," a press release from the association said.
 
Mr Ramanathan is a founder member of AIRDA. Acknowledged as a pioneer in the vacation ownership industry in India, his foray into the industry began in 1991 when he led the Marketing, Sales and Customer Relations functions at Sterling. Under his leadership, Sterling pioneered the “right to use” Vacation Ownership model and grew to be a leader in the industry.
 
In 1996, he joined the Mahindra Group to found Club Mahindra. He is credited with the successful establishment of the Club Mahindra brand and in leading Mahindra Holidays and Resorts into becoming one of the top holiday companies in the world. 
 
In July 2011, he returned at the helm of Sterling as Managing Director.
 
“The travel and tourism industry in India is poised for exponential growth. As Indian families adopt holidays as integral to their lifestyle in increasing numbers, Vacation Ownership membership will come to be seen as highly attractive given the concept’s economic and emotional benefits. I look forward to working with AIRDA in providing guidance to the Vacation Ownership industry so that it realizes its full potential. I am also confident that the Vacation Ownership industry can play an integral role in developing destinations, thereby adding impetus to the Incredible India story," Mr Ramanathan said.
 
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Isha Ambani, Akash Ambani appointed Directors of Reliance Jio Infocomm, Reliance Retail

Isha and Akash Ambani
Isha and Akash Ambani
Reliance Industries Limited (RIL) Chairman and Managing Director Mukesh Ambani's daughter Isha Ambani and son Akash Ambani were today appointed as Directors on the Boards of Reliance Jio Infocomm and Reliance Retail, both subsidiaries of RIL.
 
Isha and Akash,  23, are twins. They have a younger brother. This is the first time that any of them has been appointed on the board of any company in the Reliance Group.
 
Isha Ambani has graduated from Yale University with double majors in Psychology and South Asian Studies. She was a business analyst at McKinsey & company's New York office. 
 
Akash Ambani has graduated from Brown University with major in Economics. He is closely involved in the development of products and digital services applications in Reliance Jio. 
 
At its meeting held today, the Board of Reliance Retail also appointed Mr Adil Zainulbhai, an independent director of RIL, on its Board. Mr Dipak Jain is already an independent director on the Board of Reliance Retail. 
 
Mr Zainulbhai and Mr Jain are independent directors on the Board of Reliance Jio Infocomm. 
 
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Actor Amitabh Bachchan turns 72, spends day with family

 
Amitabh Bachchan thanksfans for their wishes on his birthday
Renowned actor Amitabh Bachchan turned 72 today and spent the day with his family, saying that the best gift to him would be whatever his little grand-daughter Aaradhya chose to present him on the occasion.
 
"She is still sleeping. I am waiting to find out what gift she will give me," he told journalists this morning.
 
Aaradhya is the daughter of Mr Bachchan's son Abhishek Bachchan and Aishwarya Rai Bachchan, both well-known actors in their own right.
 
Mr Bachchan said nothing special had been planned for the day, and he only wished to spend it with his family.
 
He said the women in the family -- his wife and actor Jaya Bachchan, daughter Shweta Nanda and daughter-in-law Aishwarya -- were observing a fast for the day on the occasion of Karva Chauth, when women pray for their husbands.
 
He said he would join them in celebrations after they break their fasts in the evening, after sighting the moon.
 
Mr Bachchan also used the opportunity to thank the thousands of his fans who greeted him on his birthday and said he could repay their love and affection only by entertaining them with his work.
 
"The hour has passed and the greetings have poured in and the family has been with me and that is the greatest gift, if gifts were to be any judge of affection," he wrote on his blog.
 
"But it is not a day to contemplate .. it is a time to deliver thanks and gratefulness to all those that have been responsible for my 72 in completion and my 73 to begin .. 
 
"There is a numbness in all that we do now .. as opposed to the gaiety and laughter and excitement of the earlier years .. I have always wondered why .. but it there and it shall remain I presume for the days left in my life .." he added.
 
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India’s forex reserves dip by $ 2.754 billion to $ 311.427 billion

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India’s foreign exchange reserves dropped sharply by $ 2.754 billion to $ 311.427 billion, a five-month low, in the week ended October 3, the Reserve Bank of India (RBI) has said.
 
This was the fifth straight week that the forex reserves have fallen. They had dipped by $ 1.415 billion to $ 314.181 billion in the previous week. In the last five weeks, the reserves have gone down by about $ 7.2 billion, partly due to the appreciation of the dollar against major currencies.
 
In its weekly statistical supplement issued here yesterday, the central bank said that foreign currency assets, which constitute a major chunk of the forex reserves, fell by $ 1.804 billion to $ 285.588 billion during the week.
 
Foreign currency assets expressed in US dollar terms include the effect of appreciation or depreciation of non-US currencies such as the euro, pound and yen held in the reserves.
 
According to the bulletin, the country’s gold reserves fell by $ 919.7 million to $ 20.013 billion, while its special drawing rights (SDR) fell by $ 22.8 million to $ 4.284 billion during the week.
 
India's reserve position in the Indian Monetary Fund (IMF) declined by $ 8.2 million to $ 1.541 billion during the period, the bulletin added.
 
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Ishant to replace injured Mohit for rest of ODI series against West Indies

Ishant Sharma
Ishant Sharma
Lanky pace bowler Ishant Sharma will replace the injured pacer Mohit Sharma in the Indian squad for the rest of the one-day international (ODI) series against the touring West Indies.
 
"Mohit Sharma has aggravated his bilateral shin pain, and has therefore been ruled out of the ongoing Micromax Cup, India vs West Indies ODI series, 2014," a press release from the Board of Control for Cricket in India (BCCI) said.
 
"The All-India Senior Selection Committee has named Ishant Sharma as his replacement in the Indian squad," it said.
 
Though a regular in the Test team, Ishant, 26, last played an ODI in January against New Zealand.
 
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Hero Indian Super League signs up six brands as sponsor partners

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Hero Indian Super League (ISL) today announced that it had signed up six iconic brands from diverse industry verticals as sponsors and partners for the tournament.
 
The league is set to kick off on Sunday, October 12, at the Salt Lake Stadium, Kolkata. 
 
The opening ceremony of the league will be telecast starting 6:00 pm on eight channels of the Star network and also be aired on www.starsports.com, whereas, the on-ground stadium entertainment will start 5:20 pm onwards.
 
Joining Hero MotoCorp Ltd, the ISL title sponsor, is car maker Maruti Suzuki which has signed up as the Associate Sponsor. 
 
FMCG brands PepsiCo India and Amul have signed up as official partners, as have the Muthoot Group, Puma and Dr Reddy’s Nise Gel.
 
Mr. Sanjay Gupta, COO, Star India, said, “We are a few days  away from the kick off of the Hero Indian Super League and it has gained excellent traction as is evident in the number of sponsors lined up to support the league. The response from sponsors has been overwhelming and the league has attracted a wide range of marketers from a variety of industries."
 
"We welcome these brands on board to support the Hero Indian Super League – a league that is bound to change the development trajectory of Indian football. Football is an aspirational sport with mass appeal and a deep youth connect. This is a historic opportunity for brands to be part of the birth of a footballing nation," he said.
 
ISL is co-promoted by IMG-Reliance (the joint venture between IMG and Reliance Industries) and Star India along with the support of All India Football Federation (AIFF).
 
Leading industrialists and celebrities from sports as well as the Indian film industry have invested in owning the eight city franchises of the ISL.
 
The opening ceremony of the tournament on Sunday will feature performances by actress Priyanka Chopra, percussionist Anandan Sivamani and Salim Merchant of the popular music director duo of Salim and Suleiman Merchant.
 
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L&T Technology Services plans to acquire Dell's Engineering Services business

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L&T Technology Services, a wholly owned subsidiary of the $14.3 billion  Larsen & Toubro (L&T) group today announced its intent to acquire the assets of U.S.-based Dell Product and Process Innovation Services (formerly eServ), the Engineering Services division of Dell.
 
The Competition Commission of India (CCI) has approved the proposed transaction and the company is awaiting US regulatory approvals which are expected shortly, a press release from the company said.
 
"The proposed transaction will significantly drive forward L&T Technology Services’ position as a premier Engineering Services provider by adding local delivery centers in North America. Dell Engineering Services also has delivery centers in Hyderabad and Bangalore in India,. This enhances L&T Technology Services’ ability to offer differentiated technology solutions and full program management services by leveraging global-local talent base at any point in the product development cycle," the release said.
 
Headquartered in Peoria, Illinois, Dell Engineering Services has over 15 years of extensive experience in Mechanical Design & Analysis, Embedded Engineering, Applied Engineering, and Manufacturing Consulting across multiple industries and has long term relationships with marquee clients in North America, especially in the transportation industry.
 
"This proposed acquisition enables L&T Technology Services to consolidate its position as preferred vendor in the $4 billion Transportation ER&D market. The acquired assets will enable L&T Technology Services to leverage the customer base and complementary capabilities of Dell Engineering Services along with L&T Technology Services’ broader portfolio of Embedded and PLM offerings, supported by a global sales force. The closure of transaction is expected around this quarter, subject to certain regulatory approvals," the release said.
 
Dr. Keshab Panda, Chief Executive of L&T Technology Services said, “Product engineering is undergoing structural shifts with evolving technologies, shorter development cycles, regulatory demands, and a shortage of skilled talent. This is a tremendous opportunity for us to have a strong local presence in North America where a majority of our clients are based. That along with Dell Engineering Services’ strong expertise in Embedded, and Mechanical Design & Analysis and a history of successful relationships in North America will help us ride the next level of growth."
 
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Gulf Petrochem makes open offer to shareholders of Sah Petroleums at Rs 15.70/share

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Gulf Petrochem Group, a United Arab Emirates (UAE)-based leading player in the oil space, today said it had made an open offer to acquire upto 26 per cent of Sah Petroleums Ltd., a manufacturer of industrial and automotive oil lubricants in India, from its public shareholders.
 
The offer has been made by Gulf Petrochem’s subsidiaries Gulf Petrochem Energy Private Ltd and Gulf Petrochem Pte Ltd to acquire upto 13,255,940 equity shares, representing 26% of Sah Petroleums Limited’s share capital, at a price of Rs 15.70 per share.
 
A press release from the company said the offer would open on October 10 and is scheduled to close on October 28.
 
Gulf Petrochem Energy Private Ltd and Gulf Petrochem Pte Ltd acquired 72.23% in Sah Petroleums on July 31st, 2014 pursuant to a share purchase agreement. The open offer is being made in accordance with the provisions of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
 
“The timing of this deal is perfect as India gears up for its ‘Make in India’ campaign and the government keen to shape business friendly policies, especially in the oil sector, which is set to open anytime now. This acquisition fits our strategy to make Gulf Petrochem Group a global conglomerate operating in oil space and have an integrated portfolio and also extend its capabilities to manufacture, supply and globally distribute a wider variety of products, from base oils to finished lubricants.” said Mr. Sudhir Goyel, Managing Director, Gulf Petrochem Group.
 
Sah Petroleums specializes in industrial lubricants, automotive lubricants, process oils, transformer oils, greases and other specialties under the brand name IPOL in India and overseas.
 
"The acquisition will further bolster Gulf Petrochem Group’s offerings which are currently divided into six divisions, i.e. refining, storage terminals, trading & bunkering, bitumen and grease manufacturing and shipping and logistics," the release added.
 
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English Vinglish to release in Romania on October 24

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Close on the heels of the success of actress Sridevi's comeback film English Vinglish in Japan, where the film garnered box office collections of a whopping $ 1.4 million plus, Eros International is all set to release the blockbuster in Romania this month on October 24 across 15 screens.
 
A press release from Eros said the film had performed exceptionally well in other new markets like South Korea, Hong Kong, Germany and Taiwan, too, and the team is confident of its continued appreciation in new territories.
 
English Vinglish, directed by Gauri Shinde released in October 2012 and has since fascinated audiences worldwide with its universal subject of people living abroad in an English-speaking world trying hard to learn English to be accepted by their society.
 
Cocktail and Zindagi Na Milegi Dobara are some of the other releases by Eros which have enjoyed success in Romania, the release added.
 
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Goods train derails between Chiplun, Kamathe on Konkan Railway

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Rail traffic on the Konkan Railway was disrupted today afer a goods train deailed between Chiplun and Kamathe this morning.
 
A press release from the Central Railway said that, as a consequence, several trains had been cancelled, short terminated or diverted and passengers were being transhipped.
 
Following are the details of the affected trains:
 
TRAINS CANCELLED ON 07.10.2014
 
1 10104 Madgaon - Mumbai Mandvi Express.
2 12052 Madgaon - Dadar Janashatabdi Express.
3. 50106 Sawantwadi - Diva Passenger. 
4. 50104 Ratnagiri - Dadar Passenger. 
5. 50103 Dadar - Ratnagiri Passenger. 
 
TRAINS SHORT TERMINATED ON 07.10.2014
 
1. 10103 Mumbai - Madgaon Mandvi Express at Panvel. 
2.  12051 Dadar-Madgaon Janshatabdi Express at Roha. 
3. 50105 Diva-Sawantwadi Road Passenger at Pen.
 
The passengers of the above short terminated trains to be accommodated in Train No. 12618 Nizamuddin - Ernakulam Mangala Express & 12288 Dehradun - Kochuveli Superfast Express. 
 
TRAINS DIVERTED ON 07.10.2014 VIA PANVEL-KARJAT-PUNE-MIRAJ-LONDA
 
1. 16345 Lokmanya Tilak Terminus-Thiruvanthapuram Netravati Express
2. 12619 Lokmanya Tilak Terminus - Mangalore Matsyagandha Express
3. 22113 Lokmanya Tilak Terminus - Ernakulam Duronto Express. 
 
TRAINS DIVERTED ON 07.10.2014 VIA LONDA-MIRAJ-PUNE-KARJAT-PANVEL 
 
1. 16346 Thiruvanathapuram - Lokmanya Tilak Terminus Netravati Express.
2.  19577 Tirunelveli - Hapa Express.
3. 16334 Thiruvanathapuram - Veraval Express. 
 
TRANSHIPMENT OF PASSENGERS ON KONKAN RAILWAY
 
1. 12617 Ernakulam - Hazrat Nizamuddin Mangala Express left on 06.10.2014 with 12618 Hazrat Nizamuddin - Ernakulam Mangala Express left on 06.10.2014.
2. 12217 Kochuveli - Chandigarh Kerala Sampark Kranti Express left on 06.10.2014 with 12288 Dehradun - Kochuveli Express left on 06.10.2014.
3. 12450 Chandigarh - Madgaon Goa Sampark Kranti Express left on 06.10.2014 with 12449 Madgaon - Chandigarh Goa Sampark Kranti Express of 07.10.2014.
 
The release requested passengers to check the status of the trains on this route on telephone number 139 or on this website.
 
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L&T Construction wins order for Rs 1630 crore expressway project in UP

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Infrastructure major Larsen & Toubro (L&T) today said it had won an engineering, procurement and construction (EPC) order worth Rs 1630 crore from the Uttar Pradesh Expressways Industrial Development Authority.
 
The greenfield order is for the construction of a six-lane access controlled expressway from Neval in Unnao district to state capital Lucknow, a press release from the company said.
 
According to it, L&T’s scope includes design, engineering and construction of the 63km-long expressway, including the construction of service roads. 
 
The contract also includes major structures like 18 VUPs (Vehicular Under Passes), 4 major bridges, 10 minor bridges, 26 pedestrian underpasses, one trumpet interchange and associated works. 
 
The project is scheduled to be completed within 36 months, the release said.
 
"This project is likely to spur economic development along the route with trade, agricultural and economic corridors proposed at different places. In addition it will reduce travel time between Lucknow and the National Capital Region (NCR) via the functional Agra-Greater Noida Yamuna Expressway," the release added.
 
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Nita Ambani unveils trophy of Hero Indian Super League

Football Sports Development chairperson Nita Ambani unveiling the trophy of the Hero Indian Super League in Mumbai on October 5, 2014.
Football Sports Development chairperson Nita Ambani unveiling the trophy of the Hero Indian Super League in Mumbai on October 5, 2014.
Football Sports Development founder and chairperson Nita Ambani unveiled the glittering trophy of the Hero Indian Super League (ISL), the first-of-its-kind franchise-based football league in the country, at a function attended by several world football legends and the icon players of the eight teams in the tournament.
 
Those present on the occasion included Fredrik Ljungberg (Mumbai City FC), Alessandro Del Piero (Delhi Dynamos FC), Joan Capdevila (NorthEast United FC), David Trezeguet (FC Pune City), Robert Pirès  (FC Goa), Mikaël Silvestre (Chennaiyin FC), Luis Garcia (Atlético de Kolkata) and David James (Kerala Blasters FC), coming together for the first time on one stage in India.
 
“It’s a momentous day for all of us today as I stand along with the world’s footballing legends to unveil the pride of Indian Super League. As these role models have inspired hundreds of thousands of players worldwide, I am sure the ISL trophy will also stand as a symbol of aspiration for many youngsters in an emergent India," Ms Ambani said.
 
“The Indian Super League trophy is detailed to perfection by Indian artisans who were trained in London, thus exemplifying the genius of Indian artistry and world-class craftsmanship. Its ‘made in India’ design embodies our love and passion for this beautiful game and it equally represents our ‘made for world’ aspirations," she said.
 
Mr. Sanjay Gupta, COO, Star India, said, “The Hero Indian Super League is a marquee football tournament wherein accomplished footballers, who have excelled on the international stage along with best-of-the-best of Indian football, will get to compete for the ultimate honour and it is only befitting that they compete for one of the most exquisite trophies ever crafted. With Hero Indian Super League well placed to fuel the birth of a footballing nation, I am confident that this will become one of the most coveted trophies in Indian football in the years ahead.”
 
Designed by Frazer And Haws, the trophy stands 26 inches tall. The logo on the top band has the ISL colours assigned to it and the handles are ornately carved and embellished with 24k gold gilt to imbue a sense of pride when held up, an ISL press release added.
 
Backed by the All India Football Federation (AIFF), the ISL will feature eight new clubs and aims to promote the game of football across India, in the newer markets and foster young local talent to take up the sport professionally.
 
Each team at the Hero ISL will have a minimum squad strength of 22 players, including 1 marquee player, 7 internationals and 14 Indian talent. Additionally, a team can increase its squad by 5 more players of its choice, outside of the central player pool draft.
 
The eight clubs participating in the Hero ISL are Atletico de Kolkata, Delhi Dynamos FC, NorthEast United FC, Kerala Blasters FC, Team Goa, Team Pune, Team Mumbai and Team Bangalore.
 
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India’s forex reserves dip by $1.415 billion to $ 314.181 billion

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India’s foreign exchange reserves dipped by $ 1.415 billion to $ 314.181 billion in the week ended September 26, the Reserve Bank of India (RBI) said here today.
 
In its weekly statistical supplement issued here today, the central bank said that foreign currency assets, which constitute a major chunk of the forex reserves, fell by $ 1.391 billion to $ 287.392 billion during the week.
 
Foreign currency assets expressed in US dollar terms include the effect of appreciation or depreciation of non-US currencies such as the euro, pound and yen held in the reserves.
 
According to the bulletin, the country’s gold reserves remained unchanged at $ 20.933 billion, while its special drawing rights (SDR) fell by $ 17.4 million to $ 4.307  billion during the week.
 
India's reserve position in the Indian Monetary Fund (IMF) declined by $ 6.2 million to $ 1.549 billion during the period, the bulletin added.
 
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Jet Airways, Etihad offer special fares on their domestic, international networks

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Private sector carrier Jet Airways and the Abu Dhabi-based Etihad Airways, its strategic partner, have announced special fares in economy and premiere classes across their domestic and international network ahead of the festive season.
 
The five-day special fare offer will be available for sale from today till October 6 with travel validity from November 5, 2014 onwards on domestic and on international routes as well as on codeshare flights operated with Etihad Airways to destinations beyond Abu Dhabi.
 
"Guests can take advantage of attractive discounts of between 25 and 50 per cent on base fares and fuel surcharge, over the lowest available fares in Economy Class, across all destinations on the airline’s domestic network," a press release from Jet Airways said.
 
"Premiere and Economy guests travelling on international routes on airlines’ networks will enjoy discounts from 25 to50 per cent on base fares on the lowest Premiere and Economy fares available for travel," it said.
 
The offer is valid for travel on direct flights on the airline's domestic and international networks, and also on several flights operated in conjunction with Etihad Airways.
 
Gaurang Shetty, Senior Vice President - Commercial, Jet Airways, said: "Our special festive seasons fares will offer guests the chance to experience our airlines' exceptional services, unmatched global network, flexible schedules and enhanced connectivity. I am confident that this promotion will be popular with our guests while they celebrate the festive season with family and friends."
 
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Dena Bank hikes interest rates on FCNR (B), RFC term deposits from Oct 1

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The public sector Dena Bank has announced higher rates of interest on Foreign Currency Non-Repatriable (FCNR) (B) and Resident Foreign Currency (RFC) term deposits with effect from October 1.
 
A press release from the bank said that for FCNR (B) deposits of 3 years to less than 4 years, in US Dollar terms, the revised interest rate is 4.29% as compared to 4.14% earlier.
 
For FCNR (B) deposits of 4 years to less than 5 years, in US Dollar terms, the revised interest rate is 4.69% as compared to the previous rate of 4.50%.
 
For FCNR (B) deposits of 5 years only, in US Dollar terms, the revised interest rates are 4.96% as compared to 4.77% earlier, the release said.
 
For FCNR (B) deposits of 2 years to less than 3 years, in US Dollar terms, the revised interest rates are 2.82% as compared to 2.71% previously.
 
For FCNR (B) deposits of 1 year to less than 2 years, in US Dollar terms, the revised interest rates are 2.38% as compared to 2.34% earlier, the release added.
 
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Harish Manwani to retire as Unilever COO on December 31

Harish Manwani
Harish Manwani
Harish Manwani, currently Chief Operating Officer (COO) of Unilever, the world's second largest consumer goods company, will retire on December 31, 2014, after more than 38 years of service, a statement from the company said today.
 
Manwani will, however, continue in his capacity as the Non-Executive Chairman of Hindustan Unilever Limited (HUL), the Indian subsidiary of the Anglo-Dutch company.
 
Manwani, 62, joined Hindustan Unilever as a Management Trainee in 1976 and joined the HUL Board of Directors in 1995 as a Director responsible for the Personal Products business. 
 
"Under his able leadership the Personal Products business grew from a nascent business to one of the key growth engines of the company. Subsequently he enjoyed success in many roles, covering both Categories and Markets, and across many parts of the world. This included stints as SVP Global Hair Care & Oral Care; President, Home & Personal Care first of Latin America and later of North America," the statement said.
 
In 2005, he was appointed to the Unilever Executive as President, Asia, Africa, Middle East and the role later expanded to include Central and Eastern Europe. He also became the first Non-Executive Chairman of Hindustan Unilever and has overseen a period of sustained growth with the business more than doubling its size and reinforcing itself as one of India’s most admired companies.
 
As Chief Operating Officer of Unilever, Manwani's key achievement has been his leadership of the Global Markets where he established and aligned the market clusters across the world behind a clear agenda, creating a better and more integrated go-to-market organisation. It has also allowed the business to be managed more dynamically, resource allocation to be done more efficiently across markets and best practices to be transferred more seamlessly. 
 
"This has allowed Unilever to become increasingly more competitive in a tougher business environment," the statement said.
 
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Unilever CEO Paul Polman said, "Harish is an inspirational leader and leaves a remarkable legacy. He has been at my side in helping to drive the turnaround of Unilever, making this once again one of the most admired companies in the world. Over the last three years, especially as Chief Operating Officer, Harish has been instrumental in the transformation of the company. Under his leadership we have seen a step-change in our go-to-market organisation and there has been a relentless focus on flawless execution globally.  He has role-modelled the 4G sustainable growth model – Competitive, Consistent, Profitable and Responsible – which has become such a strong focal point for the Markets."
 
Paul added, "I would like to thank Harish once more for his enormous contribution.  He is both a friend and a much admired and respected business leader. In everything he has done, Harish has lived the values that make Unilever such a great company. Through his passion, commitment and endless energy, he leaves a lasting impact on the business he has served with such distinction. I will personally miss his friendship and wise counsel." 
 
Manwani said, "I am deeply grateful to all those colleagues who have helped to make the last 38 years at HUL and Unilever so memorable and fulfilling. It has been a privilege to serve such a great company. Today, Unilever is in a strong position with a clear strategy and capabilities to drive long-term responsible growth. This makes it a good time for me to make this personal transition. I look forward to working with Paul and the leadership team over the coming months to ensure a smooth transition and to further build our growth agenda."
 
Manwani was named Asian Business Leader of the Year in the prestigious CNBC Asian Leadership awards in 2008. Last year, the Singapore Government conferred the distinguished Public Service Award on him for his outstanding contribution to Singapore and building Unilever’s global presence there. 
 
Manwani is also a member of the Board of Directors of Whirlpool Corporation, Pearson and Qualcomm Incorporated. He also serves on the Board of the Indian School of Business and the Economic Development Board (EDB) of Singapore.
 
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RBI keeps policy repo rate unchanged at 8%, CRR at 4%

RBI keeps interest rates unchanged
The Reserve Bank of India (RBI) today kept the kep policy repo rate under the liquidity adjustment facility (LAF) unchanged at 8 per cent and the cash reserve ratio (CRR) of scheduled banks at 4 per cent of net demand and time liabilities.
 
In its Fourth Bi-Monthly Monetary Policy Statement, 2014-15, RBI Governor Raghuram Rajan said that, on the basis of an assessment of the current and evolving macro-economic situation, it had been decided to reduce the liquidity provided under the export credit refinance (ECR) facility from 32 per cent of eligible export credit outstanding to 15 per cent with effect from October 10, 2014.
 
He said the RBI would continue to provide liquidity under overnight repos at 0.25 per cent of bank-wise NDTL at the LAF repo rate and liquidity under 7-day and 14-day term repos of up to 0.75 per cent of NDTL of the banking system through auctions.
 
It will also continue with daily one-day term repos and reverse repos to smooth liquidity, he said.
 
Consequently, the reverse repo rate under the LAF will remain unchanged at 7 per cent, and the marginal standing facility (MSF) rate and the Bank Rate at 9 per cent.
 
The RBI said that, since June, headline inflation had ebbed to levels which are consistent with the desired near-term glide path of disinflation -- 8 per cent by January 2015. 
 
"The most heartening feature has been the steady decline in inflation excluding food and fuel, by a cumulative 111 basis points since January 2014, to a new low. With international crude prices softening and relative stability in the foreign exchange market, some upside risks to inflation are receding. Yet, there are risks from food price shocks as the full effects of the monsoon’s passage unfold, and from geo-political developments that could materialise rapidly," it said.
 
According to it, for the near-term objective, therefore, the risks around the baseline path of inflation are broadly balanced, though with a slant to the downside. 
 
"However, the undershooting of the objective may be temporary because of base effects. Turning to the medium-term objective (6 per cent by January 2016) the balance of risks is still to the upside, though somewhat lower than in the last policy statement. This continues to warrant policy preparedness to contain pressures if the risks materialise. Therefore, the future policy stance will be influenced by the Reserve Bank’s projections of inflation relative to the medium term objective (6 per cent by January 2016), while being contingent on incoming data," it said.
 
The statement said the momentum of activity in all sectors of the economy was yet to stabilize. 
 
"Agriculture should shed the effects of recent shocks and pick up in Q4 of 2014-15. Industrial activity will await improvement in the business environment and the resumption of consumption and investment demand before gaining sustained speed. Post-monsoon revival in construction activity and the likely strengthening of momentum in business and financial services should sustain the recent signs of expansion in the services sector.  The key to a turnaround in the growth path of the economy in the second half of the year is a revival in investment activity – in greenfield as well as brownfield stalled projects – supported by fiscal consolidation, stronger export performance and sustained disinflation. With expectations of these conditions remaining broadly unchanged, the projection of growth for 2014-15 is retained at 5.5 per cent within a range of 5 to 6 per cent around this central estimate. The quarterly growth path may slow mildly in Q2 and Q3 before recovering in Q4," it said.
 
"With liquidity conditions easing, the recourse to ECR has fallen off substantially to about 10 per cent of the outstanding export credit eligible for refinance. Accordingly, in pursuance of the Dr. Urjit R. Patel Committee’s recommendation to move away from sector-specific refinance, the access to the ECR is being brought down to 15 per cent of the eligible export credit, thus continuing to give banks room for manoeuvre. This will be in effect from October 10, 2014," it said.
 
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L&T Construction wins orders valued at Rs 1423 crore

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Infrastructure major Larsen & Toubro (L&T) today said its construction division had won new orders worth Rs 1423 crore across various business segments in September this year.
 
These include a Rs 631 crore order bagged by its Heavy Civil Infrastructure Business from the Lucknow Metro Rail Corporation Limited for the construction of the Lucknow Metro. 
 
L&T’s scope includes construction of the priority section in the North South Corridor - 8.5km elevated viaducts and 8 elevated stations. The project was won against stiff competition and is scheduled to be completed in 24 months, a press release from the company said.
 
Lucknow would be the eighth city in India in which L&T will execute a mass rail transit system after Delhi, Chennai, Bangalore, Hyderabad, Kolkata, Kochi metros and the Mumbai monorail. 
 
"The order reaffirms L&T’s leadership position in augmenting capabilities for metro and monorail transit systems," the release said.
 
The company said its Power Transmission & Distribution business had won three major orders including additional orders from on-going jobs worth Rs 792 crore.
 
A turnkey order has been received from the Power Grid Corporation of India Limited (PGCIL) for the supply, erection, testing and commissioning of a 765 kV S/C transmission line from Lalitpur to Agra (Part – III) in Uttar Pradesh. The contract is for the supply of 765 kV EHV towers, insulator hardware materials and other transmission accessories. The order will be completed in 20 months.
 
Another order has been bagged from the Himachal Pradesh Transmission Corporation Limited for the design, engineering, supply and construction of a 400/220/33kV Gas Insulated Switchgear substation at Lahal in Chamba district. The contract involves commissioning of 400 kV & 220kV GIS switchgear, 220/400kV autotransformers, control relay panels, substation control system, fibre optic terminal equipment, auxiliary power system, construction of GIS and construction of the control room along with other associated civil works.
 
The business also received an order from the North Bihar Power Distribution Company Limited for the supply, erection, testing and commissioning of 33/11kV power distribution network. The work, funded by the Rural Electricity Corporation Limited, is for augmenting rural electricity infrastructure and household electrification under the 12th Plan of RGGVY scheme for prospective consumers in Bihar’s Muzaffarpur district, the release added.
 
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64% of netizens have "Fear of Missing Out" when without internet access: report

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Internet use and dependence have risen to a point where the "Fear of Missing Out" or FOMO, often associated with modern technologies and social networking services, has become a global phenomenon.
 
According to a study conducted by Tata Communications, 64 per cent of netizens experience FOMO when they are without internet access.
 
The survey report titled, "Connected World II", reveals responses of more than 9,400 people across six countries: France, Germany, India, Singapore, the United States and the United Kingdom, and offers insights into people’s behavioural associations, technical understanding and emotional connections to the Internet.
 
The report said that more than 2.5 billion people are connected to the Internet today, that’s a third of the world’s population. By 2020, the number of connected devices is expected to rise to 26 billion]. 
 
A press release from Tata Communication said that some of the key findings include:
 
Emotional connections & preferences 
  • 64% of respondents admit to ‘Fear of Missing Out’ (FOMO) when not connected to the Internet, with Asian respondents leading in displaying negative emotions at 80%.
  • Global users are willing to renounce different activities for an internet connection, but alcohol (28%) seems to be the top trade-off closely followed by television (26%).
Behaviour patterns & insights
  • The study shows that nearly a third of the world’s internet users spend six hours or more per day actively using the Internet
  • Regional differences point to a more active internet population in Asia, where 46% of Indian and 43% of Singaporean respondents spend more than six hours per day on the Internet - significantly more than the global average of 29%. Asian respondents also appear the most internet dependent with only 48% of Singaporeans and 44% of Indians capable of lasting up to 12 hours without internet access. Their European and U.S. counterparts can go much longer without getting online, with 86% of Germans, 77% of French, 75%  of U.S. and 70% of UK respondents managing up to 12 hours without internet access.
Technical knowledge & expectations 
  • When it comes to knowing how the Internet actually works, only half of the survey respondents accurately identified network connected data centres as the place where the Internet resides, while 82% do not know that the fastest mode of internet delivery to their devices is sub-sea cables.
  • 64% of global respondents incorrectly believe that the Internet is infinite, and 70% believe that everyone owns the Internet with only 16% actually indicating knowledge about geo-control.
  • Emerging markets and the developed economies are distinctly different in their vision of the most inspirational opportunity for change in the next three to five years that the Internet can enable. Respondents from Asian countries (Singapore 32% and India 27%) picked smart cities as the most inspirational opportunity, whereas respondents from the U.S. (29%), UK (35%), France (25%) and Germany (45%) view light speed connectivity as the most inspirational.
The release said that, while the average global respondent revealed he could only survive a maximum of 8.9 hours without the Internet on a daily basis, 25% of total respondents are unable to make an educated guess about where the Internet resides and 67% of respondents believe that the Internet and WWW are one and the same thing – indicating an opportunity for education on the understanding and knowledge about the Internet.
 
According to Andrew Blum, author of ‘Tubes: A Journey to the Centre of the Internet’, “There’s a tangible, physical reality to the Internet. Undersea cables are the ultimate totems of our physical connections. If the Internet is a global phenomenon, it’s because there are tubes underneath the ocean. They are the fundamental medium of the global village.” 
 
“The Internet has truly changed the way we function. As technologies evolve and adapt, there is a huge potential for the Internet to affect different aspects of life, economy and society. The use of these technologies will continue to expand in unexpected ways, and organisations will need to continuously explore, adapt and embrace new digital realities to thrive in,” says Julie Woods-Moss, Chief Marketing Officer and CEO of Tata Communications’ Nextgen Business. “A better understanding of the Internet is likely to improve the appreciation of the Internet and its capabilities leading to new and innovative ways to incorporate digital resources into daily activities.”
 
The survey results also found that 77% of respondents believe the most beneficial impact of the Internet is its ability to connect people globally with incredible speed. 
 
“This belief has been the guiding force of our business strategy in the past, and is the essence on which we have built our networks to support the present and the future. The fact that over 24% of the world’s internet routes use our network affords us a rare advantage and a perspective that helps connect with our customers globally across emerging markets and developed economies,” says Woods-Moss.
 
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"As more and more global consumers demand greater flexibility with regards to their digital footprint (connected devices, mobility, access to higher bandwidth speed and capacity), Tata Communications recognises the critical role that the Internet plays in facilitating and controlling seamless access between the IT user and service provider (internal or external). Private and business consumers are looking for that ‘just works’ internet experience that allows them to seamlessly switch their home technology to the work place and vice versa. Tata Communications is creating an open communications infrastructure ecosystem that makes the Internet Fit for Business, ensuring high quality and predictable internet that delivers a robust digital ecosystem that’s equipped for the future and that can cope with customers’ demands of intelligence, scalability and reliability," the release said.
 
"Tata Communications' global connectivity services are built on the world's largest and most advanced  global sub-sea cable network, which enables carriers and enterprises to connect almost anywhere in the world. The cable network boasts significant depth in the key emerging markets including Asia, Middle East and Africa. Over 24% of the world’s internet routes use Tata Communications’ network," it added.
 
A total of 9,417 respondents across six countries -- India, Singapore, UK, USA, Germany and France -- participated in the survey. Of them, 50% of them are women and 50% men. 33% of the respondents are from Asia (India and Singapore), 52% from Europe (UK, France and Germany) and 15% from North America with age ranges: 15-25=11%, 25-35=23%, 35-45=22%, 45-55=22%, 55-65=21%. The findings of this survey were then analysed as an aggregate of the responses and further based on age, gender and location to arrive at the insights.
 
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