Tuesday, October 15, 2013

Americans bag Nobel for Economics

Nobel Economics Prize 
US trio wins Nobel Economics Prize
US trio Lars Peter Hansen, Eugene Fama and Robert Shiller won the Nobel Economics Prize today for groundbreaking work on spotting trends in asset markets, the jury said. 
The three “have laid the foundation for the current understanding of asset prices. It relies in part on fluctuations in risk and risk attitudes, and in part on behavioural biases and market frictions,” the Royal Swedish Academy of Sciences said. 
Fama and Hansen are both professors at the University of Chicago, while Shiller is a professor at Yale University in Connecticut. 
The economics prize is the only Nobel not originally included in the last will and testament of the prizes’ creator, Swedish scientist and philanthropist Alfred Nobel. 
It was established in 1968 by the Swedish central bank to celebrate its tri-centenary, and first awarded in 1969. The other prizes have been awarded since 1901. 
Americans have dominated the list of economics laureates, with 17 out of 20 laureates coming from the US in the past 10 years. 
Last year, US scholars Alvin Roth and Lloyd Shapley won for their work on the functioning of markets and how best to match supply and demand. 
The economics prize winds up this year’s Nobel season, marked by awards in physics to the fathers of the Higgs boson, the literature prize to Canadian short story author Alice Munro, and the peace prize to the UN-backed Organisation for the Prohibition of Chemicals Weapons. 

Nobel Prize for Economics has been awarded to Americans Eugene F. Fama, Lars Peter Hansen and Robert J. Schiller for their empirical analysis of asset prices, to make and refine predictions.


7.2 magnitude quake strikes Central Philippines

 Philippines, at least 20 people were killed and several others injured when an earthquake measuring 7.2 on the Richter Scale hit the central parts of the country today. The US Geological Survey said the quake struck underneath the island of Bohol in a region popular with tourists. People were killed as buildings and markets collapsed in Bohol and nearby Cebu province. Reports say several buildings and churches were damaged by the quake. 
The quake struck at 8.12 am (local time) on a national holiday in the country. Officials said that most of those killed were in Cebu, the second major city in the country. 


Internet should be regulation, policing free: I&B Minister

Internet should be regulation, policing free: I&B Minister
Manish Tiwari Firebrand Minister of I& B, always give impressive speech,this time pointing poised attitude of government to give user free hand in using the means of internet ,technology moving with fastest pace and is seen the revolution in service industry to bring magic changes in our life attitude and actions.India is of half literates and where ethics override the greed and lust and everyone wants to make fast buck,the minister thus pleading for regulation in some sense makes sense but self discipline and self regulation is buzz word.
Furthermore Ministers do make sacred comments and assure pleasantries but is seen to ask for pound of flesh in case the criticism of the ruling class go beyond their standards.
Secondly the minister’s assurance was welcomed by most of people at joint meet of FICCI but most of the media and private sector experts said the intervention of the private sector in drafting the content of regulation is necessary and if government fail to inject the representation from the private sector in totality their draft and final regulation imposed will always be challenged by the intellectuals and people at large.
The Indian government thus waits for international convention at Geneva to gather mass for the masses. Their exercise at home looks scarce and scanty.Thus more and more clashes and differential ideation to spring up in coming months and years in this rapid developing communication seen by the world instant gainer in all field but its devil affect has also been felt at various events in various countries.
The Internet should be free of policing and regulation but there should be agreed global rules of engagements in this new media space, I&B Minister Manish Tewari suggested on Monday.
“We do not believe that there should be a regulation or policing of the Internet but simultaneously we believe that just as common rules of engagement have emerged in various spheres, they need to emerge in the new media space also because it is a virtual civilisation also which has its own dynamics,” he said.
“My personal view is that it is extremely important that an agreed global rules of engagement emerge as quickly as possible,” he said in his speech on ‘freedom of expression in Internet age’ at a function in New Delhi.
According to him, the rules of engagement are important because hardware responsible for dissemination of information over the Internet may not be under the control of a state at whom it is targeted.
He said this as he noted that though cyber world enables grass-root democratisation, it is also having the potential of inflicted destruction.
Tewari highlighted the mass exodus of people hailing from the northeast from southern states last year after rumours of attack on them spread like wild fire to drive home his point. He also referred to the recent riots in Muzaffarnagar, stating that a video posted on Youtube had flared up the entire incident.
“What the government do when people are fanning violence. Should not the government have the legal and technological way to stop such activity,” he sought to know. Tewari said the time is ripe to distinguish between right to privacy and right to anonymity.
He felt that the difficulty in policing freedom of speech and expression is where to draw the line. “The dilemma is should freedom of speech or expression be policed at all. But juxtaposed with that is also the reality that freedom of speech is an expression at times can create situation which lead to potential law and order issues where state and law machineries need to step in,” he said.


FIR against industrialist KM Birla
Coal scam: FIR against industrialist KM Birla
In a fresh FIR against former coal secretary PC Parekh and industrialist Kumar Mangalam Birla, the CBI registered on Tuesday, the 14th FIR in its ongoing coal scam, along with raids at several places.
The case is being directly monitored by the Supreme Court.
In connection with the case, CBI teams are also raiding various places including Delhi, Mumbai,Kolkata, Bhubaneshwar and Hyderabad.
The two have been accused of criminal conspiracy and corruption in connection with alleged irregularities in allocation of coal blocks eight years back.
The 46-year-old head of the Aditya Birla group will be called in for questioning, CBI sources said. 
The agency has booked Birla as a representative of Aditya Birla Group and his group company, aluminium maker Hindalco, for alleged corruption in the allocation of Talabira two coal blocks in Odisha which was allotted to it on November 10, 2005, the sources said. 
The blocks were allocated for power production during a meeting of the screening committee, they said. “CBI registers a fresh case in alleged irregularities in coal scam against the then Coal Secretary, M/s Hindalco, representative of Adita Birla Group, unknown persons and officials,” agency spokesperson Kanchan Prasad said. 
The $40 billion (about Rs. 2.45 lakh crore) conglomerate has denied receiving any FIR and refuted allegations of any wrongdoing. 
The CBI action had an immediate fallout with Hindalco shares dropping in the morning by 1.27 percent. Some of the other Birla companies were also affected. 
Parekh, who was Coal Secretary at the time of this allocation, faces charges under the Prevention of Corruption Act as also criminal conspiracy and other offences. 
CBI has been at the receiving end in the Supreme Court which has pased tough questions on why coal fields were allocated to private players without a transparent bidding process, the slow pace of probe as also on missing files. 


76 Indian and Foreign Amateur Lady Golfers

76 Indian and Foreign Amateur Lady Golfers to vie for the 4th USHA DGC LADIES OPEN AMATEUR GOLF CHAMPIONSHIP 2013

New Delhi, October 14: A total of 76 Indian and Foreign Amateur Lady golfers will be in the fray for the 4th DGC LADIES OPEN AMATEUR GOLF CHAMPIONSHIP 2013, to be played at the famous Delhi Golf Club course from October 15-17. The event will be played over 54 holes and in the stroke play format. The championships are set to be keenly fought as with two leading Indian amateurs Gurbani Singh and Aditi Ashok opting out, the likes of Gauri Monga, Millie Saroha and Riddhima Dilawari will fancy their chances. Gaurika Bishnoi, who won the rain-curtailed USHA Northern India Championships, at Gurgaon’s Classic Golf course last week displaying red-hot form, will also look to do an encore.
The three day competition has acquired an interesting dimension with as many as four amateur Korean lady golfers set to tee off at the Delhi Golf Club. Two Sri-Lankan players will also add to the diversity and international flavor, giving an enhanced sense of achievement to the eventual winner. The winner will be decided on Thursday, October 17.
Usha International (UIL) is strongly committed to the development of sports in the country and has been a major supporter of Golf for the last 25 years.

Usha’s unwavering support to Golf has encouraged many promising young talents across to the nation pursue the sport in a professional manner. USHA, the nationwide sponsor of the entire Indian Golf Union (IGU) Ladies Tour, meanwhile continues its long association with the sport. A major supporter of Indian golf for over 25 years now, USHAcovers the entire spectrum of the game in the country – from juniors, to ladies, to professional golf.
To further enhance this belief, USHA sponsors golf training programmes and has been associated with the Junior Training Programme at the prestigious Delhi Golf Club since 2006. USHA sponsored the 33rd Queen Sirikit Cup Championship in New Delhi in 2011. It is the most important women’s amateur golf event in the Asia Pacific region.
Usha International Limited is a trusted house hold consumer durables company with a turnover well over Rs. 2000 crores today. The company is a major supporter of Indian golf and is proud of its long-term association with the sport, covering the entire spectrum of the game. Usha has been associated with ladies golf for over 25 years, and is now the nationwide sponsor of the entire Indian Golf Union (IGU) Ladies Tour. In addition, Usha is committed to supporting golf at the juniors level, sponsoring IGU Junior tournaments in Delhi, Bangalore, Chandigarh, and is closely associated with the Junior Training Program (JTP) at the Delhi Golf Club.
 Media Contact:



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totalrail- 5 cities that desperately need an air rail link

Dear N.K,Here’s your copy of Total Rail newsletter, our bulletin on news, views and the latest thinking on the rail world. We hope you find it useful and thought provoking.
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The hotly contested bus vs train challenge cup goes to …….
Lower fares lured me onto a bus last weekend but do you really get what you pay for? London to Cardiff by bus is (usually) cheaper than the train, but the train wins on speed (roughly 2 hours vs 3). Anyone… read more ›
How to shape your business to meet future customer demand
Customer demands are changing and they want new ways to buy tickets and travel. Erik Tallroth, Director Hi-Speed Services & Revenue Management at SJ, explains what rail operators can do to meet these needs. Erik’s comments have also been added to the… read more ›
Updates on rail networks in emerging markets in Southeast Asia
Southeast Asia as a whole is gradually becoming a well-connected, with transport linkages to other regions around the world. In particular, there are burgeoning rail development opportunities for emerging markets in the region. According The New York Times, there are multiple rail projects in… read more ›
SMRT Corporation appoints Toshiba to overhaul its transmission sys…
In recent years, Singapore’s rail operator, SMRT Corporation has come under light for a number of train faults with a major one last year requiring the stoppage of train service during the peak hours and only returning to full operations the next day. Singapore’s train… read more ›
5 cities that desperately need an air rail link
There’s a continual argument between whether high speed rail will outrun low cost airlines. The fact of the matter is, there is a need for both and it is likely it will be that way for a while. Something that links the two together is the need for rail links from international airports … read more ›
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Bajrang Dal strict against slaughtering of Cow & other cattles

Bajrang Dal strict against slaughtering of Cow & other cattles
Sent Memo to LG,CM, Mayors & commissioner of police
New Delhi Oct 14, 2013. Information about large scale import of cattle in Delhi and NCR on the occasion of Eid has alerted Bajrang Dal youths. Organizations state chief shri shiv Kumar today sent a letter to this effect against slaughtering of Cow and other cattle which is prohibited under Delhi cattle preservation Act 1994 and other statutes.
According to the state media chief of VHP & Bajrang Dal shri Vinod Bansal, the letters addressed to the head of state(LG) has been marked CC to the CM, all the three mayors and the commissioner of police Delhi for their immediate action. Bajrang dal youths will keep a vigil in and around NCR for compliance of law and assisting law enforcing agencies to book the culprits. The organisation also advised people to use helpline No. 09911588588 running 24 Hrs for the purpose, shri Bansal added.


Sep 2013 CPI inflation stands at 9.8%


Sep 2013 CPI inflation stands at 9.8%

(Rural India inflation stands at 9.7% in September 2013 as compared to 8.9% in August 2013 and Urban India inflation stands at 9.9% in September 2013 as against 10.3% in August 2013)

The all India general CPI (Combined) for September 2013 stands at 9.8% as compared to 9.5% in August 2013. The inflation rates for rural and urban areas for September 2013 are 9.7% and 9.9% as compared to 8.9% and 10.3% respectively, for August 2013.

Consumer Price Index (combined)
Source: PHD Research Bureau, compiled from MOSPI.

Rate of inflation during September 2013 is high in vegetables at 34.93%, cereals and products at 12.77%, egg, meat & fish at 11.99%, prepared meals at 9.57%, fruits at 9.33%, clothing, bedding and footwear at 9.28% and non alcoholic beverages at 9.18%.
  All India annual inflation rates (%) for September 2013 and August 2013
Annual inflation rate (September 2013)
Annual inflation rate (August 2013)
Milk and products
Clothing, bedding and footwear
Oils and fats
Fuel and light
Condiments and spices
Non-alcoholic beverages
Egg, fish and meat
Prepared meals etc
Pulses and products
Food and beverages
Cereals and products
Sugar etc
General Index (All Groups)
Source: PHD Research Bureau, compiled from MOSPI.

Consumer Price Index for the month of September 2013 for rural, urban and combined stood at 137.8, 134 and 136.2 respectively.

  Index rural area vis-à-vis urban area
 Source: PHD Research Bureau, compiled from MOSPI.

General Consumer Price Index (combined) is highest in the state of Meghalaya at 142.7 followed by Karnataka at 140.1, Jharkhand at 138.8, West Bengal at 138.4, Tamil Nadu at 138.3 and Bihar 138. The index stood lowest in Manipur at 119.3.

State wise CPI Index-September 2013
Source: PHD Research Bureau, compiled from MOSPI.

Warm regards,

Dr. S P Sharma
Chief Economist



                You may be aware that this institute working under Ministry of MSME, Govt. of India has been serving the industry since 1954. We have promoted numerous entrepreneurs in the vicinity to grow from a small organization to big corporate houses.
CMAI Association of India is an apex premier and foremost non-profit trade promotion organization based in India with more than 54 MOU partners and representatives spread across globe. CMAI is prominent trade association promoting growth in communications, manufacturing trade sector through Legislative and Regulatory Advocacy, Research, Exhibitions, Trade shows, Conferences and Seminars, Technology events, Buyer sellers meets, B2B meetings, promotion and fostering business and strategic relationships.
             You will be glad to know that MSME-DI ,Okhla ,New Delhi in association with  CMAI Association of India is organizing Five Days Specialized Management Development programme on “Business Negotiation Skills” at New Delhi from 23-10-13 to 25-10-2013 & 28-10-2013 to 29-10-2013 for the benefit of Government Officers, Executives, Managers and Entrepreneurs of this region. This programme is highly beneficial for the persons who are dealing with marketing and customer handling requiring excellence in Negotiation Skills for Public Sector Undertaking, Large, Medium and Small Enterprises.
                This is a tailor made programme with unique characteristics of covering the modern practices in management being organized specially to cater the need of the professionals in and around Delhi. The methodology for imparting training in this programme will be through lectures, presentations, case studies, discussions and role plays which will be further substantiate through updated study materials. The tentative course contents to be covered during the programme is attached for ready reference for participation. Participation fee for the programme is Rs. 5000/- (Rupees Five Thousand only)can be paid cash or D.draft in favour to Director, MSME-DI N.Delhi.Thecertificate will also be awarded to all the Participants on last day of the training.
Therefore, you are requested to nominate the officers/ executives of your organization for participation in this programme at the earliest.
With Regards                                                                                                                              
 Mansi Kheterpal
Assistant Vice President
CMAI Association of India
 Mob. : 9999319055
C O U R S E  -  C O N T E N T S

 Topics to be covered :

ª What is Negotiation
ª Types of Negotiations
ª Types of Negotiators
ª Styles of Negotiation
ª Characteristics of a Good Negotiator
ª Negotiating Principles
ª Nature of Negotiations
ª Negotiation Points
ª Negotiation Process
ª Why do we need to Negotiate
ª Maintaining Relationships in Negotiations
ª Successful seal of a Negotiation Deal
ª ZOPA Negotiations
ª How to close a Negotiation
ª Role Plays
ª Activities for Negotiation


Rising Energy Needs in Asia and Pacific


Dear All,

Rising Energy Needs in Asia and Pacific can be dealt with Cross border Power Exchanges: ADB

The People Republic of China , India , Indonesia , Japan , the Republic of Korea , and Thailand will account for 81% of the demand for oil in Asia and the Pacific

According to the Report on Energy Outlook for Asia and Pacific by ADB, oil demand in Asia and the Pacific is projected to increase by 1.9% yearly over the outlook period and reach 1,973 million tons of oil equivalent by 2035 which is 59.3% higher than the 1,238.2 million tons of oil equivalent in 2010. The demand will be driven by the transport sector, which will account for 60.5% of incremental growth in oil demand between 2010 and 2035. The People Republic of China , India , Indonesia , Japan , the Republic of Korea , and Thailand will account for 81% of the demand for oil in Asia and the Pacific in but will differ in the rate of demand growth. The country specific characteristics such as declining population and deployment of fuel-efficient vehicles will reduce oil demand in Japan by 1.2% yearly and the Republic of Korea by 0.1% yearly by 2035. On the contrary, India will witness increasing demand by 3.1% and Indonesia and China at 2.8% and 2.4% yearly respectively due to increased motorization made possible by higher incomes. Further, about 51.7% of the entire growth in natural gas demand between 2010 and 2035 in Asia and the Pacific will come from China , followed by India by 13%, Indonesia by 6% and Japan by 4.8%.

However, the energy demand of the industry sector in Asia and the Pacific is projected to increase relatively slowly at 1.5% yearly during the outlook period with energy demand of the industry sector in India and Southeast Asia rising steadily at annual rates of 2.4% and 3.4% respectively. The combined industry energy demand of India and Southeast Asia in 2035 will account for only 30.2% of the total industry energy demand of Asia and the Pacific as compared to 51% industry energy demand of the People Republic of China .

Energy Demand Growth by Type and Region from 2010 to 2035
Source: PHD Research Bureau, Compiled from Report on Energy Outlook for Asia and Pacific by ADB

Electricity demand in Asia and the Pacific is projected to more than double between 2010 and 2035, reaching 16,169.2 terawatt-hours (TWh) in 2035 due to increasing economic and industrial development and higher living standards. Accordingly, electricity generation is projected to increase at an average annual growth rate of 3.2% with coal expected to continue dominating the electricity generation mix, followed by natural gas, which is likely to expand its share moderately. New and renewable energy will also increase its share in electricity generation to 7.1% in 2035 from 1.9% in 2010.

Electricity generation in the developing member countries will account for 91% of the total for Asia and the Pacific in 2035 while India will represent 70% of total electricity generation in 2035.

The demand for coal is set to rise by more than 50% over the outlook period or approximately 2% every year. The reliance on fossil fuels presents major pricing, energy security, and environmental challenges. With carbon dioxide emissions of Asia and Pacific set to double by 2035, making up more than half the world’s total output, the region will see a growing energy divide between the rich and poor and increasing threats from climate change.

Meeting the region’s energy needs will come at a hefty cost with estimates the sector will require new investments of about $11.7 trillion through to 2035, based on business-as-usual power use patterns. The investments swell to about $19.9 trillion under the alternative approach because of the adoption of pricey advanced coal and natural gas fired generation technologies, and low carbon options like wind and solar energy.

The report also suggests a few measures for managing daunting future energy needs such as using a mix of efficiency measures, advanced generation technologies, and greater use of renewable power which could almost halve the projected annual rise in energy demand through to 2035. It also suggests cross-border power exchanges which can play a central role in helping Asia and the Pacific meet its booming demand for power.

Warm regards,

Dr. S P Sharma
Chief Economist

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