Cranes Software International Ltd. (CSIL), a Company that provides Enterprise Statistical Analytics and Engineering Simulations software products and solutions across the globe, today announced its un-audited results for the third quarter ended 31st December, 2007.
On the occasion of the third quarter results announcement, Asif Khader, Managing Director, Cranes Software International Limited, said: "Cranes delivered another strong quarter with higher revenues and profits that expanded by 47% and 39% (y-o-y) respectively.
We continue to witness robust demand for our software products and remain focused in our endeavour to maximize gains from productivity and business efficiency. Going forward, we are confident of delivering stronger financials given our unique business model and inherent operating efficiencies. Also the industry that we operate in is growing at a tremendous pace and the business of analyzing astronomical amounts of data that we offer is increasingly becoming inevitable for other businesses to adopt in order to minimize uncertainty while maximizing profits. Meanwhile, the strategic acquisition of Engineering Technology Associates will give us access to the lucrative Asian markets as well as help us expand distribution for our flagship NISA suite of FEA products."
Cranes third quarter performance review:
Corresponding quarter comparison:
Q3 FY08 (October - December 2007) v/s Q3 FY07 (October - December 2006)
-- Total income increased by 47% from Rs. 717.55 million to Rs. 1051.36 million in the current quarter.
- Overseas revenues were up 55% at Rs. 863.90 million and constitute 82% of total revenues.
- Domestic revenues rose 10% from Rs. 158.93 million to Rs. 174.48 million in the current quarter.
-- Operating profit improved by 41% to Rs. 577.64 million compared to Rs. 410.00 million in the previous corresponding quarter. Operating margin was at 55% during the quarter.
-- Net profit after tax grew by 39% to Rs. 313.76 million translating into diluted EPS of Rs. 2.44 as against Rs. 1.82 reported during the same period last year.
Sequential quarter comparison:
Q3 FY08 (October - December 2007) v/s Q2 FY08 (July - September 2007)
-- Total Revenues increased 15% from Rs. 917.27 million to Rs. 1051.36 million.
- Overseas revenues expanded by 16% q-o-q from Rs. 746.35 million to Rs. 863.90 million
- Domestic revenues increased by 9%, from Rs. 159.68 million in the previous sequential quarter to Rs.174.48 million.
-- Operating profit increased by 14% from Rs. 507.13 million. Operating margins remained stable at 55% in the current quarter compared to Q2 FY08.
-- Net profit after tax (prior to adjustments) was up 15% from Rs. 272.70 million. Accordingly, diluted EPS increased from Rs. 2.14 in Q2 FY08 to Rs. 2.44 in the quarter under review.
Proprietary products grew by 13% and 59% on a sequential and corresponding basis respectively. We expect this segment to grow at a healthy pace and constitute majority of total revenues.
Strengthen presence in the Engineering Simulations domain - diversifying offerings to automotive manufacturers
During the quarter, Cranes acquired Engineering Technology Associates, a tier one vendor to the top three US car manufacturers.
-- With this acquisition, the Company has strengthened its foray into the Chinese Auto market.
-- The Company will have access to the established Chinese design centre and can leverage its core design testing, virtual simulation and product design skills across a broader range of engineering needs.
-- This acquisition will also enable Cranes to expand distribution of its flagship NISA suite of FEA products.
About Cranes Software International Limited: www.cranessoftware.com
Cranes Software International Limited is a company that provides Enterprise Statistical Analytics and Engineering Simulation Software Products and Solutions across the globe. The Company's business interests span Products, Productised Solutions, Services and R & D in future technologies.
Today, Cranes Software has its presence in 39 countries across the world and has a 350,000 strong global user base. Cranes Software offers a range of proprietary products - SYSTAT, SigmaPlot, SigmaStat, SigmaScan, TableCurve 2D, TableCurve 3D, PeakFit, NISA, XID, XIP, Survey ASYST, iCapella, InventX and world-renowned products from reputed principals such as Engineering Technology Associates, Livermore Software Technology Corporation, The Mathworks, Texas Instruments and IBM.
Thursday, January 31, 2008
Impressive Results by Global Broadcast News
CNN-IBN Revenues Up 54% (YOY)
-- EBIDTA Rs 103.88 mn Vs Loss of Rs 38.83 mn in Q3'07
-- Profit After Tax (PAT) Rs 17.88 mn Vs Loss of Rs 90.13 mn in Q3'07
-- IBN7 Revenues Up 135% (YOY); Cuts Down Operating Losses
-- MTV/NICKELODEON/VH1 (Viacom18 Channels) Continue To Perform Well In Their Respective Genres
-- Studio18 (Viacom18 Division) Begins Distribution Operations With Successful Films: "JAB WE MET" & "WELCOME"
-- Aggressive Investments Being Made in Regional News Channels; First Marathi News Channel Set To Be Launched In Next Quarter
Highlights:
-- GBN's revenues grow from Rs 252.09 mn to Rs 387.55 mn year on year.
-- IBN7 revenues grow from Rs 69.17 mn to Rs 162.60 mn year on year.
Following the meeting of The Board of Directors, Sameer Manchanda, Global Broadcast News's Jt. Managing Director said: "This quarter GBN acquired interest in the Non-News (Entertainment) space through Viacom18 which will make GBN a fully integrated Broadcasting player with leading brands across genres. CNN-IBN and IBN7 are leading brands in News, MTV and VH1 hold leadership position in music, Nickelodeon is rated as one of the most sticky kid's channel and Studio18 distributed two of the most successful films of 2007.This quarter CNN-IBN received two of the most prestigious Television Awards (Indian Tele Awards and Indian Television Academy Awards) for the "Best English News Channel".
-- EBIDTA Rs 103.88 mn Vs Loss of Rs 38.83 mn in Q3'07
-- Profit After Tax (PAT) Rs 17.88 mn Vs Loss of Rs 90.13 mn in Q3'07
-- IBN7 Revenues Up 135% (YOY); Cuts Down Operating Losses
-- MTV/NICKELODEON/VH1 (Viacom18 Channels) Continue To Perform Well In Their Respective Genres
-- Studio18 (Viacom18 Division) Begins Distribution Operations With Successful Films: "JAB WE MET" & "WELCOME"
-- Aggressive Investments Being Made in Regional News Channels; First Marathi News Channel Set To Be Launched In Next Quarter
Highlights:
-- GBN's revenues grow from Rs 252.09 mn to Rs 387.55 mn year on year.
-- IBN7 revenues grow from Rs 69.17 mn to Rs 162.60 mn year on year.
Following the meeting of The Board of Directors, Sameer Manchanda, Global Broadcast News's Jt. Managing Director said: "This quarter GBN acquired interest in the Non-News (Entertainment) space through Viacom18 which will make GBN a fully integrated Broadcasting player with leading brands across genres. CNN-IBN and IBN7 are leading brands in News, MTV and VH1 hold leadership position in music, Nickelodeon is rated as one of the most sticky kid's channel and Studio18 distributed two of the most successful films of 2007.This quarter CNN-IBN received two of the most prestigious Television Awards (Indian Tele Awards and Indian Television Academy Awards) for the "Best English News Channel".
Impressive Performance from VLS Finance
VLS Finance Ltd, a leading NBFC (Non Banking Finance Company) in the country has announced its un-audited results for the quarter/half year ended December 31, 2007.
Q3 FY07-08/Q3 FY06-07
The Company has posted a net profit of Rs.5.45 crores up by 63% reported for the quarter ended December 31, 2007 (Q3 FY 07-08) as compared to Rs. 3.34 crores for the quarter ended December 31, 2006 (Q23FY 06-07). The Total Income for the company was at Rs.595.14 crores for Q3 FY 06-07.
The profit from ordinary activities for the company during the quarter has risen by 141% to Rs. 7.95 crores from Rs.3.95 crores reported earlier.
The EPS for the company in the quarter ended December 2007 was at Rs.1.37 up 63% from 0.84 reported in the corresponding quarter of the previous year.
The Company has posted a net profit of Rs.14.46 crores, a rise of 65% for the 9 Months ended December 31, 2007 (H1 FY 07-08) as compared to Rs.8.75 crores reported for the same period ended December 31, 2006 (H1 FY 06-07). The Total Income for the company during this period was at Rs.1407.07.
Speaking o the occasion Mr. S.K.Agarwal, Managing Director- VLS finance limited said, "We are in the consolidation phase backed by the effective risk management put in place by the company."
VLS Finance has carved for itself an enviable niche in the fiercely competitive financial sector in India. VLS is a multi-faceted multi-divisional integrated financial services group with major presence in almost all areas of financial services such as Asset Management, International Finance, Leasing & Hire Purchase etc.
Q3 FY07-08/Q3 FY06-07
The Company has posted a net profit of Rs.5.45 crores up by 63% reported for the quarter ended December 31, 2007 (Q3 FY 07-08) as compared to Rs. 3.34 crores for the quarter ended December 31, 2006 (Q23FY 06-07). The Total Income for the company was at Rs.595.14 crores for Q3 FY 06-07.
The profit from ordinary activities for the company during the quarter has risen by 141% to Rs. 7.95 crores from Rs.3.95 crores reported earlier.
The EPS for the company in the quarter ended December 2007 was at Rs.1.37 up 63% from 0.84 reported in the corresponding quarter of the previous year.
The Company has posted a net profit of Rs.14.46 crores, a rise of 65% for the 9 Months ended December 31, 2007 (H1 FY 07-08) as compared to Rs.8.75 crores reported for the same period ended December 31, 2006 (H1 FY 06-07). The Total Income for the company during this period was at Rs.1407.07.
Speaking o the occasion Mr. S.K.Agarwal, Managing Director- VLS finance limited said, "We are in the consolidation phase backed by the effective risk management put in place by the company."
VLS Finance has carved for itself an enviable niche in the fiercely competitive financial sector in India. VLS is a multi-faceted multi-divisional integrated financial services group with major presence in almost all areas of financial services such as Asset Management, International Finance, Leasing & Hire Purchase etc.
Siemens PLM Software Expands Channel Operations in India
Siemens PLM Software, a business unit of Siemens Industry Sector and a leading global provider of product lifecycle management (PLM) software and services, today announced that it has expanded its sales channel in India, adding five new channel partners for Siemens Velocity SeriesT software products.
These channel partners add capacity in the sales and support of Siemens PLM Software products throughout India to meet growing demand. The five new channel partners are Digital Design Solutions, ExpertnetCAD, 3D Engineering Solutions, Solid Vision and Gnosis Infotech. These partners have sold Siemens PLM Software products purchased from a distributor for the past 10 years and will now work directly with Siemens PLM Software. These companies achieved significant revenue growth over the last year and together, they serve more than 1,000 customers throughout India.
"We've pioneered the PLM industry in India for 20 years and believe these new channel partners will continue to increase the adoption of our software," said Hans-Kurt Lübberstedt, senior vice president, Asia Pacific, Siemens PLM Software. "We welcome these new partners in helping our customers meet their business growth goals."
"The addition of these new partners reinforces the strong network of channel partners, established by us over many years," added Narendar Reddy, vice president and general manager for India Operations, Siemens PLM Software. "We look forward to leveraging their strengths in their respective markets, while equipping them with all the knowledge and skills necessary to address the requirements of our customers. With a portfolio of market-leading PLM solutions and a strong channel in place, we intend to further consolidate our leadership position in the Indian market."
Siemens PLM Software has more than 2,200 customers in more than 50 cities across India. Its customer list includes leading manufacturing enterprises from industries like automotive, heavy engineering and machinery, tooling, aerospace and defense, as well as a growing list of small to mid-sized companies. In addition, the company's products are also used to train students at more than 300 engineering colleges and training centers across the region.
About Siemens PLM Softwarei
Siemens PLM Software, a business unit of Siemens Industry Sector, is a leading global provider of product lifecycle management (PLM) software and services with 4.6 million licensed seats and 51,000 customers worldwide. Headquartered in Plano, Texas, Siemens PLM Software's open enterprise solutions enable a world where organizations and their partners collaborate through Global Innovation Networks to deliver world-class products and services. For more information on Siemens PLM Software products and services, visit www.siemens.com/plm.
About Siemens Industry Sectori
The Siemens Industry Sector and its products and solutions address industry customers in the fields of production, transportation and building systems. The sector, newly formed on Jan. 1, 2008, is primarily comprised of the business activities of the former Siemens Groups A&D, I&S, SBT, Osram and TS. Approximately 209,000 employees currently work in the Industry Sector. The sector's businesses generated revenues of roughly ?40 billion in fiscal 2007. Further information about the Siemens Industry Sector is available at www.siemens.com/industry.
These channel partners add capacity in the sales and support of Siemens PLM Software products throughout India to meet growing demand. The five new channel partners are Digital Design Solutions, ExpertnetCAD, 3D Engineering Solutions, Solid Vision and Gnosis Infotech. These partners have sold Siemens PLM Software products purchased from a distributor for the past 10 years and will now work directly with Siemens PLM Software. These companies achieved significant revenue growth over the last year and together, they serve more than 1,000 customers throughout India.
"We've pioneered the PLM industry in India for 20 years and believe these new channel partners will continue to increase the adoption of our software," said Hans-Kurt Lübberstedt, senior vice president, Asia Pacific, Siemens PLM Software. "We welcome these new partners in helping our customers meet their business growth goals."
"The addition of these new partners reinforces the strong network of channel partners, established by us over many years," added Narendar Reddy, vice president and general manager for India Operations, Siemens PLM Software. "We look forward to leveraging their strengths in their respective markets, while equipping them with all the knowledge and skills necessary to address the requirements of our customers. With a portfolio of market-leading PLM solutions and a strong channel in place, we intend to further consolidate our leadership position in the Indian market."
Siemens PLM Software has more than 2,200 customers in more than 50 cities across India. Its customer list includes leading manufacturing enterprises from industries like automotive, heavy engineering and machinery, tooling, aerospace and defense, as well as a growing list of small to mid-sized companies. In addition, the company's products are also used to train students at more than 300 engineering colleges and training centers across the region.
About Siemens PLM Softwarei
Siemens PLM Software, a business unit of Siemens Industry Sector, is a leading global provider of product lifecycle management (PLM) software and services with 4.6 million licensed seats and 51,000 customers worldwide. Headquartered in Plano, Texas, Siemens PLM Software's open enterprise solutions enable a world where organizations and their partners collaborate through Global Innovation Networks to deliver world-class products and services. For more information on Siemens PLM Software products and services, visit www.siemens.com/plm.
About Siemens Industry Sectori
The Siemens Industry Sector and its products and solutions address industry customers in the fields of production, transportation and building systems. The sector, newly formed on Jan. 1, 2008, is primarily comprised of the business activities of the former Siemens Groups A&D, I&S, SBT, Osram and TS. Approximately 209,000 employees currently work in the Industry Sector. The sector's businesses generated revenues of roughly ?40 billion in fiscal 2007. Further information about the Siemens Industry Sector is available at www.siemens.com/industry.
ibibo.com Presents ?Public ka Vitt Mantri?-- looks like another reality junk
ibibo.com, India's fastest growing social networking website and Zee News along with Zee Business come together to provide an opportunity to Indians to blog about their dream budget. 5 ibibo users with best answers and blogs will get a once in a life time opportunity to present their budget on Zee News & Zee Business to India's former finance minister Yashwant Sinha!
The reality show, called "Public Ka Vitt Mantri", featuring the chosen bloggers will be shot over 10 episodes and the same will be aired on Zee Business and Zee News at Prime Time, starting from 11th February, 2008. The finalist will be chosen by both, Mr. Yashwant Sinha and the public and will be the "Public ka Vitt Mantri". The same will be announced on February 22nd. The winner will get the chance to appear on Zee Business on the day the budget is presented in Parliament.
Applicants can log on www.ibibo.com, and blog and answer key questions asked by senior financial experts and journalists from Zee Business. Zee News and Zee Business will select 5 candidates on the basis of their blogs and answers and the selected candidates will be informed by Zee Business and Zee News.
Speaking on this initiative, Ashish Kashyap, CEO of Ibibo.com said : "ibibo.com, is a platform that empowers and enables users to express themselves and connect with each other. Keeping the forthcoming Union Budget in mind, we are giving Indians a unique opportunity to present their vision of the budget to the people of India."
Samir Ahulawalia, Editor, Zee Business commented"The budget impacts the people in more ways than one. It can bring about a major change in his standard of living. We felt that since the budget is about people, we must give people an opportunity to present their budget. This is a first ever such programme on Indian Television"
Ashish Kashyap further added, "ibibo.com, and Zee Business along with Zee News have come together to provide a platform for the first time in the News genre for "aam admi" to voice their opinion on the budget and become a Vitt Mantri of the masses. The budget impacts our lives across the board. This is just one of our innovative attempts to get recognition for our users."
About ibibo:
ibibo.com's mission is to "To empower Indians to create, share and discover people and information."
This is best described by ibibo.com's baseline "I Build, I Bond", which is a paradigm of the next wave of internet and a shift of power in the hands of the consumer. Users on ibibo are empowered to create, collaborate and thereby connect with each other.
The core proposition of ibibo.com is to enable you express yourselves and find and discover new people across India. The company defines the product as "a local social utility that enables you to discover new people".
There are numerous 'local social utilities' that are available on ibibo, that drive creation, collaboration and hence discovery of new people. ibibo.com, has been able to craft these social utilities into the social graph, thereby providing virality to the applications.
It is this combination of local utilities and discovery of new people that creates the core differentiation for ibibo.com.
Ibibo.com has One Million registered users from India. The business launched its products in January 2007
Principal investors of ibibo.com,
ibibo.com, om is backed by multi media conglomerate, Naspers, which has principal operations in electronic media (including pay-television, internet and instant-messaging, subscriber platforms and provision of related technologies) and print media (including publishing, distribution and printing of magazines, newspapers and books, and the provision of private education services). Naspers is headquartered at Cape Town, South Africa, with operations located in Sub-Saharan Africa, Greece, Cyprus, the Netherlands, the United States, Thailand, China, Russia, Poland, Brazil and India. Naspers other internet businesses include Tencent and Mail.ru. Tencent operates the brand QQ in China. QQ is a dominant Instant Messaging and Portal player with more than 80% market share in the country. Mail.ru is ranked as the number one email service for Russian speaking users.
About Zee News Ltd: Zee News Ltd is one of India's leading media and entertainment companies. It touches the lives of millions of Indians through the clutches of News and regional entertainment channel. Our mission is to "Inform, Entertain, Empower". The specific channels operated by Zee News Ltd are Zee News, Zee Business, Zee Marathi, Zee Bangla, Zee Punjabi, Zee Gujarati, Zee 24 Taas, Zee Kannada, Zee Telugu and 24 Ghanta-24. Zee News Ltd also supplies content to the international broadcasting business of Zee in USA, Europe, Africa, Middle East and Asia Pacific. Zee News created history in 1999 by becoming the 24 hour Hindi current affair and news channel in the country. The Zee Business channel was launched in November 2004 and is already rated as No1 Hindi Business News Channel. Besides updates, there is lot to watch out for information related to stock market, investments, mutual funds, corporate world, real estate, travel and leisure. It has been awarded the best Hindi business channel in the past.
Details of the Format of the Show and Application Procedure
The process is simple-
Apply Procedure
Round 1
-- Log onto www.ibibo.com,.
-- Register on ibibo.com, click on "Public ka Vitt Mantri" and answer key questions asked by senior financial experts and journalists, Naveen Soni, Mehir Bhatt, Geetu Moza and Chetan Sharma from Zee TV.
Appearance on TV
Round 2
Five participants will be selected.
-- All participants will present their views on the budget to the former finance minister of India, Mr. Yashwant Sinha.
-- He will analyze the participant on their financial acumen and the viewers will vote for the participant of their choice. The voting lines will be open for 24 hrs after the show and the public can sms ibibo followed by the candidate's code to 57575 or by voting on www.ibibo.com,.
Final Round
Round 3
-- Based on the public voting and Mr Yashwant Sinha's points, the winner will be announced a day before the budget and the winner will become the "Public ka Vitt Mantri."
The reality show, called "Public Ka Vitt Mantri", featuring the chosen bloggers will be shot over 10 episodes and the same will be aired on Zee Business and Zee News at Prime Time, starting from 11th February, 2008. The finalist will be chosen by both, Mr. Yashwant Sinha and the public and will be the "Public ka Vitt Mantri". The same will be announced on February 22nd. The winner will get the chance to appear on Zee Business on the day the budget is presented in Parliament.
Applicants can log on www.ibibo.com, and blog and answer key questions asked by senior financial experts and journalists from Zee Business. Zee News and Zee Business will select 5 candidates on the basis of their blogs and answers and the selected candidates will be informed by Zee Business and Zee News.
Speaking on this initiative, Ashish Kashyap, CEO of Ibibo.com said : "ibibo.com, is a platform that empowers and enables users to express themselves and connect with each other. Keeping the forthcoming Union Budget in mind, we are giving Indians a unique opportunity to present their vision of the budget to the people of India."
Samir Ahulawalia, Editor, Zee Business commented"The budget impacts the people in more ways than one. It can bring about a major change in his standard of living. We felt that since the budget is about people, we must give people an opportunity to present their budget. This is a first ever such programme on Indian Television"
Ashish Kashyap further added, "ibibo.com, and Zee Business along with Zee News have come together to provide a platform for the first time in the News genre for "aam admi" to voice their opinion on the budget and become a Vitt Mantri of the masses. The budget impacts our lives across the board. This is just one of our innovative attempts to get recognition for our users."
About ibibo:
ibibo.com's mission is to "To empower Indians to create, share and discover people and information."
This is best described by ibibo.com's baseline "I Build, I Bond", which is a paradigm of the next wave of internet and a shift of power in the hands of the consumer. Users on ibibo are empowered to create, collaborate and thereby connect with each other.
The core proposition of ibibo.com is to enable you express yourselves and find and discover new people across India. The company defines the product as "a local social utility that enables you to discover new people".
There are numerous 'local social utilities' that are available on ibibo, that drive creation, collaboration and hence discovery of new people. ibibo.com, has been able to craft these social utilities into the social graph, thereby providing virality to the applications.
It is this combination of local utilities and discovery of new people that creates the core differentiation for ibibo.com.
Ibibo.com has One Million registered users from India. The business launched its products in January 2007
Principal investors of ibibo.com,
ibibo.com, om is backed by multi media conglomerate, Naspers, which has principal operations in electronic media (including pay-television, internet and instant-messaging, subscriber platforms and provision of related technologies) and print media (including publishing, distribution and printing of magazines, newspapers and books, and the provision of private education services). Naspers is headquartered at Cape Town, South Africa, with operations located in Sub-Saharan Africa, Greece, Cyprus, the Netherlands, the United States, Thailand, China, Russia, Poland, Brazil and India. Naspers other internet businesses include Tencent and Mail.ru. Tencent operates the brand QQ in China. QQ is a dominant Instant Messaging and Portal player with more than 80% market share in the country. Mail.ru is ranked as the number one email service for Russian speaking users.
About Zee News Ltd: Zee News Ltd is one of India's leading media and entertainment companies. It touches the lives of millions of Indians through the clutches of News and regional entertainment channel. Our mission is to "Inform, Entertain, Empower". The specific channels operated by Zee News Ltd are Zee News, Zee Business, Zee Marathi, Zee Bangla, Zee Punjabi, Zee Gujarati, Zee 24 Taas, Zee Kannada, Zee Telugu and 24 Ghanta-24. Zee News Ltd also supplies content to the international broadcasting business of Zee in USA, Europe, Africa, Middle East and Asia Pacific. Zee News created history in 1999 by becoming the 24 hour Hindi current affair and news channel in the country. The Zee Business channel was launched in November 2004 and is already rated as No1 Hindi Business News Channel. Besides updates, there is lot to watch out for information related to stock market, investments, mutual funds, corporate world, real estate, travel and leisure. It has been awarded the best Hindi business channel in the past.
Details of the Format of the Show and Application Procedure
The process is simple-
Apply Procedure
Round 1
-- Log onto www.ibibo.com,.
-- Register on ibibo.com, click on "Public ka Vitt Mantri" and answer key questions asked by senior financial experts and journalists, Naveen Soni, Mehir Bhatt, Geetu Moza and Chetan Sharma from Zee TV.
Appearance on TV
Round 2
Five participants will be selected.
-- All participants will present their views on the budget to the former finance minister of India, Mr. Yashwant Sinha.
-- He will analyze the participant on their financial acumen and the viewers will vote for the participant of their choice. The voting lines will be open for 24 hrs after the show and the public can sms ibibo followed by the candidate's code to 57575 or by voting on www.ibibo.com,.
Final Round
Round 3
-- Based on the public voting and Mr Yashwant Sinha's points, the winner will be announced a day before the budget and the winner will become the "Public ka Vitt Mantri."
Landmark Group Launches First ‘Oasis Centre’ in India
Landmark Group, a foremost retail conglomerate in the Middle East and India, launched the first Oasis Centre in the country at Bangalore today. Combining 4 Levels of International Shopping experience (Lifestyle and SPAR) including the best International brands, fine dining (Polynation) and an entertainment zone (Fun City) under one roof, Oasis Centre will provide an all-round family leisure and shopping experience to the residents of Bangalore.
In India, the Group has already invested USD 100 million since 1998 and plans to become a USD 1 billion company by 2012.
States Mr. Micky Jagtiani, Chairman Landmark Group on the occasion of the launch, "Having started our first-few stores in Bangalore, we are delighted to present this unique experience to the people of this city. Bangalore is also our home market and hence holds special significance for the Group. This cosmopolitan and vibrant retail destination was the perfect choice to launch a unique concept like Oasis Centre."
Spanning over an impressive area of 2,00,000(two lakh) square feet Oasis Centre houses Lifestyle in the ground, first and second level, SPAR supermarket in the third level and Funcity entertainment zone with Polynation food court in the fourth level.
Spread over 90,000 square feet, the Lifestyle store houses 5 product categories including apparel, footwear, accessories, children's wear, home décor and furnishings with more than 250 national and global brands namely Louis Philippe, Van Heusen, Arrow, Park Avenue, Benetton, Bossini, Nike, Adidas, Allen Solly, Levis, Kappa, Lee Cooper, Police, Tommy Hilfiger, Swatch, Tissot, Tag Heuer and Armani. This is Lifestyle's second store in Bangalore and thirteenth outlet in the country.
The company is planning on setting up a total of 35 Lifestyle stores and 15 home Centre stores in the next 3 years in India.
SPAR supermarket spread over 40,000 square feet promises to elevate shopping from a daily chore to a world class shopping experience that also offers value for money. Shoppers will have the option to choose from a wide array of quality products in every category ranging from fresh produce, food & grocery, kitchenware, health and beauty, apparel accessories, home care products, non-food FMCG products, electronics, DIY, automotive accessories, lifestyle products, luggage, crockery, glassware, toys and much more.
Funcity, the entertainment center designed to cater to the entire family on the fourth level offers world class gaming consoles, soft play area, entertain children, parents and grandparents, offering a new and exciting way to bond with the family. Polynation, the food court with a grand spread of exotic cuisines caters to different palates of the Indian customer with an intelligent mix of Citymax inhouse brands and other popular international and local express brands. Both Funcity & Polynation combined together is spread over 40,000 square feet.
The Oasis Centre launched today with fanfare, is centrally located at Salarpuria Tech Point, 30 Intermediate Koramangala Ring Road.
In India, the Group has already invested USD 100 million since 1998 and plans to become a USD 1 billion company by 2012.
States Mr. Micky Jagtiani, Chairman Landmark Group on the occasion of the launch, "Having started our first-few stores in Bangalore, we are delighted to present this unique experience to the people of this city. Bangalore is also our home market and hence holds special significance for the Group. This cosmopolitan and vibrant retail destination was the perfect choice to launch a unique concept like Oasis Centre."
Spanning over an impressive area of 2,00,000(two lakh) square feet Oasis Centre houses Lifestyle in the ground, first and second level, SPAR supermarket in the third level and Funcity entertainment zone with Polynation food court in the fourth level.
Spread over 90,000 square feet, the Lifestyle store houses 5 product categories including apparel, footwear, accessories, children's wear, home décor and furnishings with more than 250 national and global brands namely Louis Philippe, Van Heusen, Arrow, Park Avenue, Benetton, Bossini, Nike, Adidas, Allen Solly, Levis, Kappa, Lee Cooper, Police, Tommy Hilfiger, Swatch, Tissot, Tag Heuer and Armani. This is Lifestyle's second store in Bangalore and thirteenth outlet in the country.
The company is planning on setting up a total of 35 Lifestyle stores and 15 home Centre stores in the next 3 years in India.
SPAR supermarket spread over 40,000 square feet promises to elevate shopping from a daily chore to a world class shopping experience that also offers value for money. Shoppers will have the option to choose from a wide array of quality products in every category ranging from fresh produce, food & grocery, kitchenware, health and beauty, apparel accessories, home care products, non-food FMCG products, electronics, DIY, automotive accessories, lifestyle products, luggage, crockery, glassware, toys and much more.
Funcity, the entertainment center designed to cater to the entire family on the fourth level offers world class gaming consoles, soft play area, entertain children, parents and grandparents, offering a new and exciting way to bond with the family. Polynation, the food court with a grand spread of exotic cuisines caters to different palates of the Indian customer with an intelligent mix of Citymax inhouse brands and other popular international and local express brands. Both Funcity & Polynation combined together is spread over 40,000 square feet.
The Oasis Centre launched today with fanfare, is centrally located at Salarpuria Tech Point, 30 Intermediate Koramangala Ring Road.
STG and Inforez Ink MOU to Develop and Deliver World Class Solutions for Construction Industry in India and Middle East
STG, a technology driven company, providing world class software consulting and training solutions to organizations today announced an association with Inforez to provide powerful enterprise solutions through software and services for the residential and commercial construction industries in India and the Middle East.
Commenting on the alliance Mr. Yogesh Vaidya Chairman & CEO of STG said" This is a significant milestone for both STG & Inforez, in their endeavor to develop and expand to different cities. STG has over 15 years of proven track record in marketing and building customized solutions for large corporate clients and government. Inforez can leverage STG's marketing and support operations across the country as well as in the Middle East".
According to Dr. Shyam Das, President & CEO Inforez "STG and Inforez will jointly offer solutions for Inforez's advanced suite of digital products that integrate homebuilders' workflows from their earliest in-house design reviews, through civic design reviews, costing, production planning, house sales and options sales.Inforez's products harness The Power of Dimensions to let construction organizations build and sell digitally before investments are put forward to build in the real world saving thousands of dollars on each house that is built"
Inforez's products apply a proprietary dimensional approach to key construction processes to reduce projects build-cycle time, cut costs and improve customer satisfaction all of which significantly boost builder's profitability. The services are related to 3D modeling, quantity Takeoffs, visualization and specialized services relating to building construction by using specially developed tools, software and technical expertise in these activities. Inforez has developed and it owns intellectual property rights on the system, process, design, technical specifications, and software and related data that it has developed in house over a period of time. Inforez customers are among top ten US builder.
About STG-The leading global IT Company
STG, an ISO 9001:2000 company, is a leading IT product and services organization, focusing on software product and consulting services, advanced software education, corporate training and solutions. STG has a global presence and started its operations in 1994 and has been a renowned name in online assessment solutions and high-end software training.
STG develops software solutions and provides world class consulting services through its large pool of well experienced and highly skilled software professionals. The company also customizes implements and supports banking software solutions across India.
STG has trained and upgraded the skill sets of over a million professionals to world standards since its inception. STG achieved the highest level of Microsoft certification and has become a Microsoft Gold Certified Partner. It has also alliances with global technology leaders like IBM, Red Hat and Prometric.
Commenting on the alliance Mr. Yogesh Vaidya Chairman & CEO of STG said" This is a significant milestone for both STG & Inforez, in their endeavor to develop and expand to different cities. STG has over 15 years of proven track record in marketing and building customized solutions for large corporate clients and government. Inforez can leverage STG's marketing and support operations across the country as well as in the Middle East".
According to Dr. Shyam Das, President & CEO Inforez "STG and Inforez will jointly offer solutions for Inforez's advanced suite of digital products that integrate homebuilders' workflows from their earliest in-house design reviews, through civic design reviews, costing, production planning, house sales and options sales.Inforez's products harness The Power of Dimensions to let construction organizations build and sell digitally before investments are put forward to build in the real world saving thousands of dollars on each house that is built"
Inforez's products apply a proprietary dimensional approach to key construction processes to reduce projects build-cycle time, cut costs and improve customer satisfaction all of which significantly boost builder's profitability. The services are related to 3D modeling, quantity Takeoffs, visualization and specialized services relating to building construction by using specially developed tools, software and technical expertise in these activities. Inforez has developed and it owns intellectual property rights on the system, process, design, technical specifications, and software and related data that it has developed in house over a period of time. Inforez customers are among top ten US builder.
About STG-The leading global IT Company
STG, an ISO 9001:2000 company, is a leading IT product and services organization, focusing on software product and consulting services, advanced software education, corporate training and solutions. STG has a global presence and started its operations in 1994 and has been a renowned name in online assessment solutions and high-end software training.
STG develops software solutions and provides world class consulting services through its large pool of well experienced and highly skilled software professionals. The company also customizes implements and supports banking software solutions across India.
STG has trained and upgraded the skill sets of over a million professionals to world standards since its inception. STG achieved the highest level of Microsoft certification and has become a Microsoft Gold Certified Partner. It has also alliances with global technology leaders like IBM, Red Hat and Prometric.
Cisco Unveils Nexus 7000 Series Data Center-Class Platform
Cisco® announced today an innovative family of data center-class switching platforms, the Cisco Nexus Series, to meet customer demands for next-generation mission-critical data centers. As the data center transitions to a more services-centric model, the network plays a pivotal role in orchestrating virtual IT resources and scaling workloads. The Cisco Nexus 7000 Series was designed with this environment in mind, delivering the infrastructure chapter of Cisco's Data Center 3.0 vision.
Today's announcement features a new data center platform with both hardware and software innovations, including:
-- The Cisco Nexus 7000 Series, the flagship data center-class switching platform combining Ethernet, IP, and storage capabilities across one unified network fabric
-- The Cisco Trusted Security (TrustSec) architecture
-- An advanced operating system, the Cisco Nexus Operating System (NX-OS), and the Cisco Data Center Network Manager
Introducing the Nexus 7000 Series: Purpose Built for Data Centers
The Cisco Nexus 7000 Series is the flagship member of the Cisco Nexus Family, the first in a new data center class of switching products. The Nexus 7000 is a highly scalable modular platform that delivers up to 15 terabits per second of switching capacity in a single chassis, supporting up to 512 10-gigabits-per-second (Gbps) Ethernet and future delivery of 40- and 100-Gbps Ethernet. Its unified fabric architecture combines Ethernet and storage capabilities into a single platform, designed to provide all servers with access to all network and storage resources. This enables data center consolidation and virtualization. Key components of the unified fabric architecture include unified I/O interfaces and Fibre Channel over Ethernet support to be delivered in the future.
The Nexus 7000 is designed specifically for the data center with improved airflow, integrated cable management, and a resilient platform architecture. The data plane is fully distributed and, when coupled with the Cisco NX-OS operating system, is designed to enable zero service-disruption upgrades on production systems. This provides a seamless systems design that reduces administrative tasks and simplifies complex systems operations.
A Unique Unified Fabric Architecture
Building data centers based on a unified fabric eliminates the need for parallel storage and computational networks, reducing the number of server interfaces and significantly reducing the cabling and switching infrastructure required. A unified fabric also enables customers to move to higher-density server form factors, increasing the IT workload output of each data center. Combined with virtualization, this new technology will help customers to build more efficient and sustainable data centers, maximizing IT workload for each facility and saving more power overall than the network generally consumes. The Nexus 7000 architecture is designed around this lossless unified fabric capable of simultaneously forwarding storage, Ethernet, and IP traffic. The fabric scales performance linearly with each fabric module and is logically partitioned for efficient unicast and multicast traffic, making it ideally suited for market data video as well as collaboration applications.
Microsoft is currently performing rigorous testing of the Nexus 7000 Series for security, manageability and performance in a lab environment. "We appreciate the modular processes of the Cisco Nexus operating system designed to resolve problems in real time without impact to production traffic, as well as data center-class high-availability features and unified fabric support," said Debra Chrapaty, corporate vice president, Global Foundation Services, Microsoft.
Powered by an Advanced Operating System: NX-OS
At the heart of the Nexus 7000 Series is the NX-OS software, purpose-built to maximize data center resiliency and to consolidate disparate networks. NX-OS combines the best of Cisco's SAN-OS, Layer 2 switching, Layer 3 routing protocols, and advanced virtualization capabilities into one reliable operating system with the familiar Cisco IOS® interface.
NX-OS has many innovative features, including:
-- Zero-service-disruption upgrades
-- Virtual device contexts
-- Graceful systems operations
-- XML interfaces to access switch information or any command
NX-OS delivers zero-service-disruption system upgrades to maximize production uptime while self-diagnostic capabilities continuously track each software component in the operating system. If a failure is detected, NX-OS policies enable stateful process restart without service disruption. This modular design provides fault containment and automatic recovery so that processes can be remotely started, stopped and upgraded without human intervention.
Innovative virtualization capabilities such as virtual device contexts allow the system to be partitioned into multiple logical devices, each with its own processes and command-line interface running independent of one another. This system may be used by hosting providers and complex enterprise administrative models, to be shared by multiple administrators concurrently, each with its own switching environment.
Securing the Data Center with Cisco Trusted Security
The Nexus 7000 Series is the first platform to deliver Cisco Trusted Security, a new architecture introduced last month that integrates identity- and role-based security across data centers. (See news release at http://newsroom.cisco.com/dlls/2007/prod_120507.html.) Cisco TrustSec enforces trusted traffic segmentation without requiring complex addressing models and unmanageable access control lists. This enables virtual machine mobility throughout the data center while helping to ensure data integrity with a wire-rate AES-128 encryption implementation on every port of the Nexus 7000.
The National Nuclear Security Administration's Lawrence Livermore National Laboratory has reviewed the new Cisco data center switch for the high performance computing systems scientists employ for national security research. Applications such as research in fusion energy, atmospheric modeling, and the simulation of other physical phenomena, can benefit greatly from increased network bandwidth for data movement between parallel file systems and archival storage. "The future-proof architecture of this new data center platform has great potential to enhance the scientific computing capabilities critical to our national and global security missions," said Doug East, High Performance Computing Manager at Lawrence Livermore National Laboratory. "We can see applicability for our environment because of its scalability, the enhanced security features, innovative virtualization features, and immediate improved performance through high density 10-Gigabit Ethernet and the ability to support 40 Gigabits and 100 Gigabits in the future."
Simplifying Data Center Network Operations: Cisco Data Center Network Manager
Supporting the Cisco Nexus 7000 Series, the Cisco Data Center Network Manager (DCNM) provides visibility across data center networks. Built on the foundation of Cisco Fabric Manager for storage networks, DCNM provides topology discovery and visualization for increased operational efficiency and systems awareness. Nexus 7000 management interfaces are fully compatible with Cisco VFrame Data Center, an orchestration platform that uses network intelligence to provision resources together as virtualized services. VFrame DC will be a key enabler for services orchestration on the Nexus platform.
"With the new Nexus 7000 platform, Cisco is on track to deliver its vision for next-generation data centers by simplifying data center operations and supporting the transition to a unified fabric," said Zeus Kerravala, senior vice president of Enterprise Research, Yankee Group. "Following the Catalyst model, Cisco also designed the Nexus platform with longevity in mind, providing ease of migration, investment protection, and a clear roadmap for future upgrades that will help virtualize IT services within the network."
Pricing and Availability
The Nexus 7000 Series starts at $75,000, can be ordered globally now, and is planned to be generally available in the second quarter of calendar year 2008. Cisco Capital SM is offering financing for data center solutions globally. In the United States, Cisco Capital is offering lease rates as low as 3.99 percent APR for the Cisco Nexus 7000.
Additional Information and Resources
Cisco also announced today the expansion of its Catalyst® family with innovative additions to its modular, fixed and blade platforms. See http://newsroom.cisco.com/dlls/2008/prod_012808.html
Additional information and resources on today's announcement can be found in the Cisco online press kit at: http://newsroom.cisco.com/DataCenter_3 More information and resources on the Cisco Nexus 7000 Series announced today can be found at: www.cisco.com/go/nexus
About Cisco Systems
Cisco, (NASDAQ: CSCO), is the worldwide leader in networking that transforms how people connect, communicate and collaborate. Information about Cisco can be found at http://www.cisco.com. For ongoing news, please go to http://newsroom.cisco.com.
Today's announcement features a new data center platform with both hardware and software innovations, including:
-- The Cisco Nexus 7000 Series, the flagship data center-class switching platform combining Ethernet, IP, and storage capabilities across one unified network fabric
-- The Cisco Trusted Security (TrustSec) architecture
-- An advanced operating system, the Cisco Nexus Operating System (NX-OS), and the Cisco Data Center Network Manager
Introducing the Nexus 7000 Series: Purpose Built for Data Centers
The Cisco Nexus 7000 Series is the flagship member of the Cisco Nexus Family, the first in a new data center class of switching products. The Nexus 7000 is a highly scalable modular platform that delivers up to 15 terabits per second of switching capacity in a single chassis, supporting up to 512 10-gigabits-per-second (Gbps) Ethernet and future delivery of 40- and 100-Gbps Ethernet. Its unified fabric architecture combines Ethernet and storage capabilities into a single platform, designed to provide all servers with access to all network and storage resources. This enables data center consolidation and virtualization. Key components of the unified fabric architecture include unified I/O interfaces and Fibre Channel over Ethernet support to be delivered in the future.
The Nexus 7000 is designed specifically for the data center with improved airflow, integrated cable management, and a resilient platform architecture. The data plane is fully distributed and, when coupled with the Cisco NX-OS operating system, is designed to enable zero service-disruption upgrades on production systems. This provides a seamless systems design that reduces administrative tasks and simplifies complex systems operations.
A Unique Unified Fabric Architecture
Building data centers based on a unified fabric eliminates the need for parallel storage and computational networks, reducing the number of server interfaces and significantly reducing the cabling and switching infrastructure required. A unified fabric also enables customers to move to higher-density server form factors, increasing the IT workload output of each data center. Combined with virtualization, this new technology will help customers to build more efficient and sustainable data centers, maximizing IT workload for each facility and saving more power overall than the network generally consumes. The Nexus 7000 architecture is designed around this lossless unified fabric capable of simultaneously forwarding storage, Ethernet, and IP traffic. The fabric scales performance linearly with each fabric module and is logically partitioned for efficient unicast and multicast traffic, making it ideally suited for market data video as well as collaboration applications.
Microsoft is currently performing rigorous testing of the Nexus 7000 Series for security, manageability and performance in a lab environment. "We appreciate the modular processes of the Cisco Nexus operating system designed to resolve problems in real time without impact to production traffic, as well as data center-class high-availability features and unified fabric support," said Debra Chrapaty, corporate vice president, Global Foundation Services, Microsoft.
Powered by an Advanced Operating System: NX-OS
At the heart of the Nexus 7000 Series is the NX-OS software, purpose-built to maximize data center resiliency and to consolidate disparate networks. NX-OS combines the best of Cisco's SAN-OS, Layer 2 switching, Layer 3 routing protocols, and advanced virtualization capabilities into one reliable operating system with the familiar Cisco IOS® interface.
NX-OS has many innovative features, including:
-- Zero-service-disruption upgrades
-- Virtual device contexts
-- Graceful systems operations
-- XML interfaces to access switch information or any command
NX-OS delivers zero-service-disruption system upgrades to maximize production uptime while self-diagnostic capabilities continuously track each software component in the operating system. If a failure is detected, NX-OS policies enable stateful process restart without service disruption. This modular design provides fault containment and automatic recovery so that processes can be remotely started, stopped and upgraded without human intervention.
Innovative virtualization capabilities such as virtual device contexts allow the system to be partitioned into multiple logical devices, each with its own processes and command-line interface running independent of one another. This system may be used by hosting providers and complex enterprise administrative models, to be shared by multiple administrators concurrently, each with its own switching environment.
Securing the Data Center with Cisco Trusted Security
The Nexus 7000 Series is the first platform to deliver Cisco Trusted Security, a new architecture introduced last month that integrates identity- and role-based security across data centers. (See news release at http://newsroom.cisco.com/dlls/2007/prod_120507.html.) Cisco TrustSec enforces trusted traffic segmentation without requiring complex addressing models and unmanageable access control lists. This enables virtual machine mobility throughout the data center while helping to ensure data integrity with a wire-rate AES-128 encryption implementation on every port of the Nexus 7000.
The National Nuclear Security Administration's Lawrence Livermore National Laboratory has reviewed the new Cisco data center switch for the high performance computing systems scientists employ for national security research. Applications such as research in fusion energy, atmospheric modeling, and the simulation of other physical phenomena, can benefit greatly from increased network bandwidth for data movement between parallel file systems and archival storage. "The future-proof architecture of this new data center platform has great potential to enhance the scientific computing capabilities critical to our national and global security missions," said Doug East, High Performance Computing Manager at Lawrence Livermore National Laboratory. "We can see applicability for our environment because of its scalability, the enhanced security features, innovative virtualization features, and immediate improved performance through high density 10-Gigabit Ethernet and the ability to support 40 Gigabits and 100 Gigabits in the future."
Simplifying Data Center Network Operations: Cisco Data Center Network Manager
Supporting the Cisco Nexus 7000 Series, the Cisco Data Center Network Manager (DCNM) provides visibility across data center networks. Built on the foundation of Cisco Fabric Manager for storage networks, DCNM provides topology discovery and visualization for increased operational efficiency and systems awareness. Nexus 7000 management interfaces are fully compatible with Cisco VFrame Data Center, an orchestration platform that uses network intelligence to provision resources together as virtualized services. VFrame DC will be a key enabler for services orchestration on the Nexus platform.
"With the new Nexus 7000 platform, Cisco is on track to deliver its vision for next-generation data centers by simplifying data center operations and supporting the transition to a unified fabric," said Zeus Kerravala, senior vice president of Enterprise Research, Yankee Group. "Following the Catalyst model, Cisco also designed the Nexus platform with longevity in mind, providing ease of migration, investment protection, and a clear roadmap for future upgrades that will help virtualize IT services within the network."
Pricing and Availability
The Nexus 7000 Series starts at $75,000, can be ordered globally now, and is planned to be generally available in the second quarter of calendar year 2008. Cisco Capital SM is offering financing for data center solutions globally. In the United States, Cisco Capital is offering lease rates as low as 3.99 percent APR for the Cisco Nexus 7000.
Additional Information and Resources
Cisco also announced today the expansion of its Catalyst® family with innovative additions to its modular, fixed and blade platforms. See http://newsroom.cisco.com/dlls/2008/prod_012808.html
Additional information and resources on today's announcement can be found in the Cisco online press kit at: http://newsroom.cisco.com/DataCenter_3 More information and resources on the Cisco Nexus 7000 Series announced today can be found at: www.cisco.com/go/nexus
About Cisco Systems
Cisco, (NASDAQ: CSCO), is the worldwide leader in networking that transforms how people connect, communicate and collaborate. Information about Cisco can be found at http://www.cisco.com. For ongoing news, please go to http://newsroom.cisco.com.
Aditya Birla Nuvo Limited Reports Results for Q3 FY 2008
Continued growth in consolidated revenues
The Company's consolidated revenues at Rs. 3,661.6 Crores have risen substantially by 58% from Rs. 2,316.1 Crores achieved during the corresponding quarter of FY 2007. Revenues from its subsidiaries and joint ventures, where the company has made substantial investments in the past, grew by 79% to Rs. 2564.2 Crores from Rs. 1,435 Crores. All the businesses are on the growth trajectory.
-- The Telecom business registered a 49% rise in revenues at Rs. 1708.1 Crores vis-à-vis Rs. 1148.2 Crores with a subscriber base of 21.05 Millions as on December 31, 2007, growing at a higher clip than the industry. Idea has received Letter of Intent to operate in the remaining 9 circles besides receiving spectrum allocation for Mumbai and Bihar circles. This is a significant move towards Pan India presence.
-- The Life Insurance business soared by 185% in revenues to Rs. 1484.7 Crores from Rs. 521.8 Crores. New business premium is up by 163% to Rs. 498 Crores. The business garnered 6.6% market share till Dec'07 up from 5.3% in FY2007, in terms of new business premium amongst private players. This was possible with the substantial investments that the company has made to strengthen the distribution reach. The business now has 339 branches and over 86,000 agents compared to 137 branches and over 57,000 agents in the beginning of the year.
-- In the Garments business, revenues rose by 36% to Rs. 278.8 Crores from Rs. 204.7 Crores. Controlled retail space has been expanded to 4.7 lacs square feet across 235 Exclusive Brand Outlets.
-- The BPO business reported revenues of Rs. 403.1 Crores. Three new clients including two fortune 500 companies were added during the quarter besides launching one new site in India.
The standalone revenues grew by 25% from Rs. 881.1 Crores to Rs. 1097.4 Crores. The Carbon Black business posted the best ever quarterly revenues. Insulators and Fertilisers business also contributed to the revenues growth. After the breakdown in the preceding quarter, the fertiliser plant is now stabilised and is running on full capacity.
Growth in standalone net profit by 59% while investment phase of growth businesses had gestating impact on consolidated profitability
The standalone net profit during the quarter was higher by 59% at Rs. 84 Crores as against Rs 52.7 Crores attained in the corresponding quarter of last year. Insulators and Carbon Black businesses and income tax refunds contributed significantly to the earnings.
Despite higher standalone profitability, consolidated net profit at Rs. 30.2 Crores is lower by 45% against Rs. 55.3 Crores attained in the corresponding quarter of the preceding year.
The consolidated net profit for nine months ended 31st December 2007 is Rs. 172.6 Crores against Rs. 198.7 Crores in corresponding period of previous year despite aggressive growth in Telecom, Life Insurance, Asset Management and BPO businesses.
-- In the Life insurance business, net loss increased during the quarter to Rs. 125.8 Crores from Rs. 30.8 Crores. This was largely due to rising share of new business premium and higher spends on expanding its distribution reach to regain the market share.
-- In the BPO business, net loss was higher at Rs. 38.2 Crores, constrained by the weakening of US Dollar, besides ramping up and training costs for new sites.
-- Pre-launch expenses of stores in apparel retail subsidiaries affected the profitability of the Garments business.
However, the Telecom business, which is now in the profit phase, has reported a substantial jump of 108% in net profit at Rs. 236.7 Crores vis-à-vis Rs. 113.8 Crores earned in the corresponding quarter of the last year.
In most of our businesses, we are moving ahead with our investment plans to leverage growth opportunities. Aditya Birla Nuvo is very optimistic about meeting the challenges of strategic growth initiatives and enhancing its revenues and earnings. The investments pumped into the Life Insurance, BPO and Garments businesses, which have created a stretch on profitability in the short term, will go long way for value creation for the shareholders.
The Company's consolidated revenues at Rs. 3,661.6 Crores have risen substantially by 58% from Rs. 2,316.1 Crores achieved during the corresponding quarter of FY 2007. Revenues from its subsidiaries and joint ventures, where the company has made substantial investments in the past, grew by 79% to Rs. 2564.2 Crores from Rs. 1,435 Crores. All the businesses are on the growth trajectory.
-- The Telecom business registered a 49% rise in revenues at Rs. 1708.1 Crores vis-à-vis Rs. 1148.2 Crores with a subscriber base of 21.05 Millions as on December 31, 2007, growing at a higher clip than the industry. Idea has received Letter of Intent to operate in the remaining 9 circles besides receiving spectrum allocation for Mumbai and Bihar circles. This is a significant move towards Pan India presence.
-- The Life Insurance business soared by 185% in revenues to Rs. 1484.7 Crores from Rs. 521.8 Crores. New business premium is up by 163% to Rs. 498 Crores. The business garnered 6.6% market share till Dec'07 up from 5.3% in FY2007, in terms of new business premium amongst private players. This was possible with the substantial investments that the company has made to strengthen the distribution reach. The business now has 339 branches and over 86,000 agents compared to 137 branches and over 57,000 agents in the beginning of the year.
-- In the Garments business, revenues rose by 36% to Rs. 278.8 Crores from Rs. 204.7 Crores. Controlled retail space has been expanded to 4.7 lacs square feet across 235 Exclusive Brand Outlets.
-- The BPO business reported revenues of Rs. 403.1 Crores. Three new clients including two fortune 500 companies were added during the quarter besides launching one new site in India.
The standalone revenues grew by 25% from Rs. 881.1 Crores to Rs. 1097.4 Crores. The Carbon Black business posted the best ever quarterly revenues. Insulators and Fertilisers business also contributed to the revenues growth. After the breakdown in the preceding quarter, the fertiliser plant is now stabilised and is running on full capacity.
Growth in standalone net profit by 59% while investment phase of growth businesses had gestating impact on consolidated profitability
The standalone net profit during the quarter was higher by 59% at Rs. 84 Crores as against Rs 52.7 Crores attained in the corresponding quarter of last year. Insulators and Carbon Black businesses and income tax refunds contributed significantly to the earnings.
Despite higher standalone profitability, consolidated net profit at Rs. 30.2 Crores is lower by 45% against Rs. 55.3 Crores attained in the corresponding quarter of the preceding year.
The consolidated net profit for nine months ended 31st December 2007 is Rs. 172.6 Crores against Rs. 198.7 Crores in corresponding period of previous year despite aggressive growth in Telecom, Life Insurance, Asset Management and BPO businesses.
-- In the Life insurance business, net loss increased during the quarter to Rs. 125.8 Crores from Rs. 30.8 Crores. This was largely due to rising share of new business premium and higher spends on expanding its distribution reach to regain the market share.
-- In the BPO business, net loss was higher at Rs. 38.2 Crores, constrained by the weakening of US Dollar, besides ramping up and training costs for new sites.
-- Pre-launch expenses of stores in apparel retail subsidiaries affected the profitability of the Garments business.
However, the Telecom business, which is now in the profit phase, has reported a substantial jump of 108% in net profit at Rs. 236.7 Crores vis-à-vis Rs. 113.8 Crores earned in the corresponding quarter of the last year.
In most of our businesses, we are moving ahead with our investment plans to leverage growth opportunities. Aditya Birla Nuvo is very optimistic about meeting the challenges of strategic growth initiatives and enhancing its revenues and earnings. The investments pumped into the Life Insurance, BPO and Garments businesses, which have created a stretch on profitability in the short term, will go long way for value creation for the shareholders.
Hindalco Industries Limited Q3 FY 2007-2008 Results
Hindalco Industries Ltd., the flagship company of the Aditya Birla Group, today announced its unaudited financial results for the quarter ended December 31, 2007.
Net sales and operating revenues stood at Rs.4,531.7 crores as compared to Rs.4,656.2 crores in the corresponding period in FY 07. The net profit for the quarter is Rs.542.7 crores vis-à-vis Rs. 643.9 crores in the corresponding period of previous year.
These results need to be viewed in the context of macro-economic parameters as these adversely impacted the quarter under review. Domestic Aluminium ingot prices are down by around 20% due to the rupee appreciation. A 10% lower aluminium LME, 41% lower Tc/Rc in copper and soaring international crude prices have exerted considerable pressure on margins. This was mitigated to some extent by sweating capacities, improving realization through an enriched product/market mix, optimizing efficiency levels and producing highest ever aluminium metal in a quarter.
Of the total revenues of Rs. 4,531.7crores, the aluminium business contributed Rs. 1,729 crores. Aluminum metal sales volume rose by 12% along with higher proportion of value added products.
The profit before interest and tax for aluminium business was at Rs.578.9 crores as against Rs. 755.5 crores in the corresponding quarter in the earlier year, as stated earlier, mainly due to the rising rupee and fall in global alumina realization.
In the copper business, revenues stood at Rs.2806.2 crores driven by higher sales volumes and an enriched product mix. The profit before interest and tax was Rs. 94 crores against Rs. 159.5 crores in the corresponding quarter last year.
As mentioned earlier, a 41% lower TcRc and lower duty differential on imports constrained the copper business..The effect of these were partially offset by improvement in the market mix with higher sales in domestic market, lower grid power usage on improved captive power availability, energy consumption and better realization from by-product sale. Moreover, steep appreciation of Indian Rupee against US Dollar adversely impacted segment results of Copper by an estimated Rs.54 crores for the quarter under review as a result of restatement of net foreign currency exposures as on December 31, 2007. For the corresponding quarter of the previous year, this had an estimated favourable impact of Rs.86 crores on such results. Consequently, the Copper segment results for the quarter under review are lower than the corresponding quarter of the previous year by an estimated non-cash impact of Rs.140 crores on this account.
Operational review
Aluminium
All the aluminium plants operated at consistently high capacity utilisation. Brownfield expansions have resulted in increasing metal production by 9%. The downstream assets purchased in the last two years are fully utilized, in addition to consistent production from other plants. Production of value added products (VAP) viz. Rolled products and Extrusions production extended by 6 per cent and 10 per cent respectively. Alumina production was marginally less than last year predominantly due to the hooking of existing alumina refinery with expanded facility at Muri.
Copper
Copper cathodes and CC rods production increased by 7% and 38 % respectively on YoY basis on the back of the ramp up of the copper-III smelter and consistent production from smelter-I. The operations at copper smelter -II continue to be suspended.
Expansion projects
Muri
The expansion of the Muri Alumina refinery from 110,000 tpa to 450,000 tpa is under commissioning in a phased manner. The entire steam and power requirement is being met by the new captive power plant. The production from the expanded facility is expected to be stepped up progressively in Q4FY08.
Hirakud
Phase II of the expansion of the smelting capacity from 100,000 tpa to 143,000 tpa is on track. The scaling up of the power generation capacity from 267.5MW to 367.5MW will go on stream by the fourth quarter of this fiscal.
Belgaum
The allotment of the lease for bauxite mines for expanding the alumina refinery capacity at Belgaum, Karnataka from 350 ktpa to 650 ktpa is awaited.
Aditya Aluminium
Aditya Aluminium, the integrated aluminium project, encompassing 1-1.5 million tpa alumina refinery, 260,000-325,000 tpa aluminium smelter and 750 MW captive power plant is progressing as planned. The major portion of the total land required for the project has been acquired. Environmental clearances have been obtained for Smelter, the Captive Power Plant (CPP) and the refinery. Joint venture Company is formed for the coal block. The water drawal agreement is also finalized. Construction power already in place, the regulatory clearances obtained for transmission lines for operation power. The Smelter is expected to be commissioned by March, 2011 and the refinery by May, 2011.
Mahan
The Mahan Aluminum project with a smelter capacity of 325 ktpa and CPP of 750 MW is on schedule. The land acquisition for the project is underway. The Company has been allotted a coal block in a JV with the Essar group for the coal requirement of the CPP. Preliminary Environmental clearances have been obtained. The power connectivity for commencing construction has been approved. The Water resource department has provided the necessary facilities as well. The production of coal is likely to start by Oct'09. The Smelter is expected to roll on by September 2012.
Latehar
For the Latehar project with a smelter capacity of 325 ktpa and CPP of 750 MW, Tubed Coal mine has been allocated jointly with Tata Power. Preliminary Environmental clearances have been obtained. Land acquisition is in progress. Power for construction activity is sanctioned. The expected date of commissioning is September 2013.
Utkal
Work on Utkal Alumna's 1.5 MTPA Alumina Refinery is underway. The Company has acquired the land for the plant and facilities. Mining activities will start by March 2009. The civil works for Alumina refinery and CPP is in progress. The commissioning of the Plant is expected by March 2010.
Hindalco Almex Aerospace Limited
This project for manufacture of high strength aluminium alloys for applications in the aerospace, sporting goods and surface transport industries is on target. Key equipment has begun to arrive at site for installation.
Industry outlook
Aluminium
Global primary aluminium consumption has witnessed a strong growth of 10 % from April through December 2007. US production levels have seen a high growth but demand from residential construction market and transport markets continues to remain weak. Demand from Western Europe has been relatively stronger due to firm transport and engineering markets. China is the strongest driver of the demand as the metal grew at 34.7%, in this period, with demand from the power, transport and construction markets bolstering growth.
Copper
The bullish run on the copper prices has been halted due to global economic and financial woes and the trend is likely to be downward. With many major smelters announcing annual maintenance shutdown during April -June'07, the availability of concentrates would improve, resulting in a higher spot TCRC.
Company outlook
Going forward, higher volumes from asset sweating of existing plants, the brownfield expansions and continued cost focus together with effective working capital management to maximise free cash flow will be the major growth drivers. However a stronger Rupee will continue put pressure on the profit margins.
Net sales and operating revenues stood at Rs.4,531.7 crores as compared to Rs.4,656.2 crores in the corresponding period in FY 07. The net profit for the quarter is Rs.542.7 crores vis-à-vis Rs. 643.9 crores in the corresponding period of previous year.
These results need to be viewed in the context of macro-economic parameters as these adversely impacted the quarter under review. Domestic Aluminium ingot prices are down by around 20% due to the rupee appreciation. A 10% lower aluminium LME, 41% lower Tc/Rc in copper and soaring international crude prices have exerted considerable pressure on margins. This was mitigated to some extent by sweating capacities, improving realization through an enriched product/market mix, optimizing efficiency levels and producing highest ever aluminium metal in a quarter.
Of the total revenues of Rs. 4,531.7crores, the aluminium business contributed Rs. 1,729 crores. Aluminum metal sales volume rose by 12% along with higher proportion of value added products.
The profit before interest and tax for aluminium business was at Rs.578.9 crores as against Rs. 755.5 crores in the corresponding quarter in the earlier year, as stated earlier, mainly due to the rising rupee and fall in global alumina realization.
In the copper business, revenues stood at Rs.2806.2 crores driven by higher sales volumes and an enriched product mix. The profit before interest and tax was Rs. 94 crores against Rs. 159.5 crores in the corresponding quarter last year.
As mentioned earlier, a 41% lower TcRc and lower duty differential on imports constrained the copper business..The effect of these were partially offset by improvement in the market mix with higher sales in domestic market, lower grid power usage on improved captive power availability, energy consumption and better realization from by-product sale. Moreover, steep appreciation of Indian Rupee against US Dollar adversely impacted segment results of Copper by an estimated Rs.54 crores for the quarter under review as a result of restatement of net foreign currency exposures as on December 31, 2007. For the corresponding quarter of the previous year, this had an estimated favourable impact of Rs.86 crores on such results. Consequently, the Copper segment results for the quarter under review are lower than the corresponding quarter of the previous year by an estimated non-cash impact of Rs.140 crores on this account.
Operational review
Aluminium
All the aluminium plants operated at consistently high capacity utilisation. Brownfield expansions have resulted in increasing metal production by 9%. The downstream assets purchased in the last two years are fully utilized, in addition to consistent production from other plants. Production of value added products (VAP) viz. Rolled products and Extrusions production extended by 6 per cent and 10 per cent respectively. Alumina production was marginally less than last year predominantly due to the hooking of existing alumina refinery with expanded facility at Muri.
Copper
Copper cathodes and CC rods production increased by 7% and 38 % respectively on YoY basis on the back of the ramp up of the copper-III smelter and consistent production from smelter-I. The operations at copper smelter -II continue to be suspended.
Expansion projects
Muri
The expansion of the Muri Alumina refinery from 110,000 tpa to 450,000 tpa is under commissioning in a phased manner. The entire steam and power requirement is being met by the new captive power plant. The production from the expanded facility is expected to be stepped up progressively in Q4FY08.
Hirakud
Phase II of the expansion of the smelting capacity from 100,000 tpa to 143,000 tpa is on track. The scaling up of the power generation capacity from 267.5MW to 367.5MW will go on stream by the fourth quarter of this fiscal.
Belgaum
The allotment of the lease for bauxite mines for expanding the alumina refinery capacity at Belgaum, Karnataka from 350 ktpa to 650 ktpa is awaited.
Aditya Aluminium
Aditya Aluminium, the integrated aluminium project, encompassing 1-1.5 million tpa alumina refinery, 260,000-325,000 tpa aluminium smelter and 750 MW captive power plant is progressing as planned. The major portion of the total land required for the project has been acquired. Environmental clearances have been obtained for Smelter, the Captive Power Plant (CPP) and the refinery. Joint venture Company is formed for the coal block. The water drawal agreement is also finalized. Construction power already in place, the regulatory clearances obtained for transmission lines for operation power. The Smelter is expected to be commissioned by March, 2011 and the refinery by May, 2011.
Mahan
The Mahan Aluminum project with a smelter capacity of 325 ktpa and CPP of 750 MW is on schedule. The land acquisition for the project is underway. The Company has been allotted a coal block in a JV with the Essar group for the coal requirement of the CPP. Preliminary Environmental clearances have been obtained. The power connectivity for commencing construction has been approved. The Water resource department has provided the necessary facilities as well. The production of coal is likely to start by Oct'09. The Smelter is expected to roll on by September 2012.
Latehar
For the Latehar project with a smelter capacity of 325 ktpa and CPP of 750 MW, Tubed Coal mine has been allocated jointly with Tata Power. Preliminary Environmental clearances have been obtained. Land acquisition is in progress. Power for construction activity is sanctioned. The expected date of commissioning is September 2013.
Utkal
Work on Utkal Alumna's 1.5 MTPA Alumina Refinery is underway. The Company has acquired the land for the plant and facilities. Mining activities will start by March 2009. The civil works for Alumina refinery and CPP is in progress. The commissioning of the Plant is expected by March 2010.
Hindalco Almex Aerospace Limited
This project for manufacture of high strength aluminium alloys for applications in the aerospace, sporting goods and surface transport industries is on target. Key equipment has begun to arrive at site for installation.
Industry outlook
Aluminium
Global primary aluminium consumption has witnessed a strong growth of 10 % from April through December 2007. US production levels have seen a high growth but demand from residential construction market and transport markets continues to remain weak. Demand from Western Europe has been relatively stronger due to firm transport and engineering markets. China is the strongest driver of the demand as the metal grew at 34.7%, in this period, with demand from the power, transport and construction markets bolstering growth.
Copper
The bullish run on the copper prices has been halted due to global economic and financial woes and the trend is likely to be downward. With many major smelters announcing annual maintenance shutdown during April -June'07, the availability of concentrates would improve, resulting in a higher spot TCRC.
Company outlook
Going forward, higher volumes from asset sweating of existing plants, the brownfield expansions and continued cost focus together with effective working capital management to maximise free cash flow will be the major growth drivers. However a stronger Rupee will continue put pressure on the profit margins.
Manipal Cure & Care Launches Wellness Mpower Card
Manipal Cure and Care (MCC), India's first health & wellness retail chain, today announced the launch of Wellness Mpower card in Ahmedabad.
Somnath Das, Chief Operating Officer, Manipal Cure and Care said, "Wellness Mpower card is yet another pioneering initiative by MCC. Loyalty points are given based on sales by cards in other categories, but for the first time in India, we are rewarding people to stay healthy by offering bonus points. Free check of BP, blood sugar, Body mass Index and Bone density will be given four times a year. If a guest is found to be within healthy limits he will be given bonus points in addition to loyalty points accrued on spends at MCC centres. We believe that the Wellness Mpower card will help trigger a wellness revolution through rewarding preventive monitoring of likely health issues."
Guests also benefit by free consultations, savings on healthcare services, health & beauty products and pharmaceutical products. Wellness Mpower card benefits include 24 free consultations (with GP, dentist, dermatologist, clinical psychologist, gynaecologist or paediatrician, ophthalmologist and a 50 per cent saving on consultations with a plastic surgeon, orthopedician, cardiologist or endocrinologist).
In addition, the Wellness Mpower card also offers 20 per cent saving on diagnostic services and lab investigations, 10 per cent saving on health checks and MCC products and two loyalty points for every Rs 100 spent in an MCC outlet.
"MCC recognises that customers today are highly mobile and would like to enjoy the same benefits across the country. Wellness Mpower card is also the first national loyalty card in the segment and will be applicable across the country in various MCC centres", Mr Das added.
Dr Satish Amarnath, Medical Director, Manipal Care and Cure, said, "In order to offer personalised services like appointment preference, we plan to limit the number of Mpower cards initially. We will issue MCC cards currently in Ahmedabad on a first come first served basis for 90 days only, or till the membership exceeds 20000 cards, whichever is earlier. We will expand the base of Mpower cards as we increase our presence in Ahmedabad and other cities."
Wellness Mpower cards will carry an annual fees of Rs 499 for the first card for the main family member and Rs 249 for add-on cards for other family members. Each family member will be able to access shortly, his medical records through MCC electronic medical records system [EMR] across India. This system provides complete healthcare information for self-monitoring to the guest through the Internet. This provides a unique opportunity to monitor the wellness status of the individual. MCC is also appointing authorized agents for sales of this card.
Earlier in the month, MCC won the prestigious Golden Peacock Award for Innovative Product / Service Award - 2007. For the first time, the Golden Peacock Innovative Product/ Service has been bestowed to a health and wellness retail brand, that too within five months of its launch.
As the country's first health & wellness retail chain, MCC has also introduced many new things for the first time in India. These include A-M-P-L-E Card (Allergies, Medical History, Past History, List of Medication, Emergency Number), EMR (Electronic Medical Record), Integration of CIMS (Cumulative Index of Medical Specialties - pharmaceutical drug interaction alert), Customer Charter, error proofing methodology and single episode of care in less than 45 min to name a few.
About Manipal Cure and Care
Manipal Cure and Care is an initiative of Manipal Education and Medical Group (MEMG). Founded by the late Padmashree Dr. T.M.A. Pai in 1953, Manipal Education and Medical Group today stands tall with an enviable track record of success in the spheres of Healthcare, Education and Research nationally and internationally. Its operations are spread across India, Middle East and several Southeast Asian countries.
The integrated Manipal Cure and Care (MCC) centres offer a mix of world-class products and services in preventive, wellness and beauty care. They are the first in India to provide qualitative monitoring of healthcare driven by well-trained doctors and paramedical staff. They offer health services that are customized based on each individual's lifestyle and family medical history.
MCC builds on the experience, know-how and socially beneficial vision of the Manipal Education and Medical Group itself. This pioneering venture introduces to India the concept of holistic Health and Wellness care in a retail format, providing superior clinical services with related product offerings, all under one roof!
Somnath Das, Chief Operating Officer, Manipal Cure and Care said, "Wellness Mpower card is yet another pioneering initiative by MCC. Loyalty points are given based on sales by cards in other categories, but for the first time in India, we are rewarding people to stay healthy by offering bonus points. Free check of BP, blood sugar, Body mass Index and Bone density will be given four times a year. If a guest is found to be within healthy limits he will be given bonus points in addition to loyalty points accrued on spends at MCC centres. We believe that the Wellness Mpower card will help trigger a wellness revolution through rewarding preventive monitoring of likely health issues."
Guests also benefit by free consultations, savings on healthcare services, health & beauty products and pharmaceutical products. Wellness Mpower card benefits include 24 free consultations (with GP, dentist, dermatologist, clinical psychologist, gynaecologist or paediatrician, ophthalmologist and a 50 per cent saving on consultations with a plastic surgeon, orthopedician, cardiologist or endocrinologist).
In addition, the Wellness Mpower card also offers 20 per cent saving on diagnostic services and lab investigations, 10 per cent saving on health checks and MCC products and two loyalty points for every Rs 100 spent in an MCC outlet.
"MCC recognises that customers today are highly mobile and would like to enjoy the same benefits across the country. Wellness Mpower card is also the first national loyalty card in the segment and will be applicable across the country in various MCC centres", Mr Das added.
Dr Satish Amarnath, Medical Director, Manipal Care and Cure, said, "In order to offer personalised services like appointment preference, we plan to limit the number of Mpower cards initially. We will issue MCC cards currently in Ahmedabad on a first come first served basis for 90 days only, or till the membership exceeds 20000 cards, whichever is earlier. We will expand the base of Mpower cards as we increase our presence in Ahmedabad and other cities."
Wellness Mpower cards will carry an annual fees of Rs 499 for the first card for the main family member and Rs 249 for add-on cards for other family members. Each family member will be able to access shortly, his medical records through MCC electronic medical records system [EMR] across India. This system provides complete healthcare information for self-monitoring to the guest through the Internet. This provides a unique opportunity to monitor the wellness status of the individual. MCC is also appointing authorized agents for sales of this card.
Earlier in the month, MCC won the prestigious Golden Peacock Award for Innovative Product / Service Award - 2007. For the first time, the Golden Peacock Innovative Product/ Service has been bestowed to a health and wellness retail brand, that too within five months of its launch.
As the country's first health & wellness retail chain, MCC has also introduced many new things for the first time in India. These include A-M-P-L-E Card (Allergies, Medical History, Past History, List of Medication, Emergency Number), EMR (Electronic Medical Record), Integration of CIMS (Cumulative Index of Medical Specialties - pharmaceutical drug interaction alert), Customer Charter, error proofing methodology and single episode of care in less than 45 min to name a few.
About Manipal Cure and Care
Manipal Cure and Care is an initiative of Manipal Education and Medical Group (MEMG). Founded by the late Padmashree Dr. T.M.A. Pai in 1953, Manipal Education and Medical Group today stands tall with an enviable track record of success in the spheres of Healthcare, Education and Research nationally and internationally. Its operations are spread across India, Middle East and several Southeast Asian countries.
The integrated Manipal Cure and Care (MCC) centres offer a mix of world-class products and services in preventive, wellness and beauty care. They are the first in India to provide qualitative monitoring of healthcare driven by well-trained doctors and paramedical staff. They offer health services that are customized based on each individual's lifestyle and family medical history.
MCC builds on the experience, know-how and socially beneficial vision of the Manipal Education and Medical Group itself. This pioneering venture introduces to India the concept of holistic Health and Wellness care in a retail format, providing superior clinical services with related product offerings, all under one roof!
Maxim on it's 2nd Anniversary Launches the Internationally Acclaimed Maxim Calendar 2008
On the occasion of its 2nd anniversary celebrations, at one of Delhi's most happening designer clubs 'Six Month Story' at Mehrauli, 'Maxim' India's largest selling premium men's lifestyle magazine in association with Royal Challenge, launched the most sought after Maxim calendar 2008 in India and introduced Prianca Sharma the winner of the India-Asia title in Miss Maxim International pageant held at Pattaya in November 2007. She will be seen as the face of the Maxim Calendar 2008 which was unveiled by the hot and sizzling bollywood actress Yana Gupta. It also features the top 12 Miss Maxim contestants from across all the continents.
The evening was graced by the presence of Mr. Piyush Sharma - CEO & Publisher, Media Transasia India Ltd and Mr. Anup Kutty, Editor, Maxim India, along with Mr. Mr Dirk Bakker, Managing Director, INEX.
Anup Kutty said "Maxim's now a two year old monster having become the largest selling men's magazine in India. Which was a good enough reason for the anniversary bash. The MAXIM party is for all those who helped shape the magazine including people who have supported us through our two year rollercoaster ride. It's also for all those who don't really care about all this spiel and just want to have a good time! The idea is to wake up the next morning with a terrible hangover but great memories!"
To this adds Piyush Sharma "The Maxim calendar is a logical extension of Maxim's identity of being a Lifestyle brand. Internationally it has been the most sought after property of Maxim and now we foresee it to be a huge success in India as well. We believe this would become a priced possession of all the Maxim readers as there would only be special copies available and that too at quite a premium price. "
Speaking on Maxim, Dirk Bakker said: "It is great to be associated with India's first men's Magazine. Maxim has brought something new to India, it pushes the limit and it brings to people what they want, something that INEX also believes in."
The highlight of the event was the unveiling of the Maxim Calendar 2008 featuring the top 12 contestants of Miss Maxim International amidst a host of celebrities from the world of fashion.It was a lively and boisterous gathering, where guests trooped in to celebrate Maxim's 2nd anniversary bash. Among the guests present at the party were members of the designer fraternity, celebrities, socialites, models, photographers of the town as well as the expats community in full force. The fun at the party was doubled by Royal Challenge the official sponsors.
About Media Transasia
Media Transasia is one of the word's most diversified and vertically integrated publishing houses, it commands the entire gamut of publishing activities; from creating new markets to conceiving new publications, from editorial and design to printing. The group is headquartered in Bangkok, which has been continuously publishing over 25 magazines and books for over 27 years.
The evening was graced by the presence of Mr. Piyush Sharma - CEO & Publisher, Media Transasia India Ltd and Mr. Anup Kutty, Editor, Maxim India, along with Mr. Mr Dirk Bakker, Managing Director, INEX.
Anup Kutty said "Maxim's now a two year old monster having become the largest selling men's magazine in India. Which was a good enough reason for the anniversary bash. The MAXIM party is for all those who helped shape the magazine including people who have supported us through our two year rollercoaster ride. It's also for all those who don't really care about all this spiel and just want to have a good time! The idea is to wake up the next morning with a terrible hangover but great memories!"
To this adds Piyush Sharma "The Maxim calendar is a logical extension of Maxim's identity of being a Lifestyle brand. Internationally it has been the most sought after property of Maxim and now we foresee it to be a huge success in India as well. We believe this would become a priced possession of all the Maxim readers as there would only be special copies available and that too at quite a premium price. "
Speaking on Maxim, Dirk Bakker said: "It is great to be associated with India's first men's Magazine. Maxim has brought something new to India, it pushes the limit and it brings to people what they want, something that INEX also believes in."
The highlight of the event was the unveiling of the Maxim Calendar 2008 featuring the top 12 contestants of Miss Maxim International amidst a host of celebrities from the world of fashion.It was a lively and boisterous gathering, where guests trooped in to celebrate Maxim's 2nd anniversary bash. Among the guests present at the party were members of the designer fraternity, celebrities, socialites, models, photographers of the town as well as the expats community in full force. The fun at the party was doubled by Royal Challenge the official sponsors.
About Media Transasia
Media Transasia is one of the word's most diversified and vertically integrated publishing houses, it commands the entire gamut of publishing activities; from creating new markets to conceiving new publications, from editorial and design to printing. The group is headquartered in Bangkok, which has been continuously publishing over 25 magazines and books for over 27 years.
Wednesday, January 30, 2008
Sify Launches end-to-end Managed Security Services
Sify Technologies Limited (NASDAQ National Market: SIFY), a leader in Consumer, Internet and Enterprise Services in India with global delivery capabilities, today announced the launch of its end-to-end Managed Security Services (MSS). This service will be powered by a state-of-the-art Security Operations Center (SOC) set up by the company in Bangalore.
With this launch, Sify will offer its Enterprise customers the entire suite of Managed Security Services including 24x7 Monitoring and Management of Security Devices, Security Event Correlation and Reporting along with a range of other value added services like Vulnerability Protection, Compliance Monitoring and Forensics Services.
Mr. P J Nath, Executive President, Sify Enterprise Solutions, said, "Managed Security Services are one of the fastest growing services in India with a market size of about Rs 181 crores last year. We expect robust growth in demand over the next five to six years with many more companies moving towards online processes and storage, or enhancing their current capabilities. So the addition of end-to-end Managed Security Services to our Enterprise Services portfolio is timely, and will build on the considerable expertise we have developed over the years in infrastructure management and information security. The launch of these services makes Sify even more competitive in managed services with our range of enterprise service offerings across connectivity, hosting, applications and security enhanced by their addition".
Powered by a high-tech SOC in Bangalore and backed by a strong delivery platform using a dedicated customer web portal developed in-house, Sify is well poised to cater to the Managed Security needs of both domestic and global customers.
Sify's MSS will help customers to:
-- Proactively secure information assets and preempt security threats
-- Ensure 24x7 managed security for their mission critical assets with guaranteed SLAs
-- Ensure 24x7 availability of critical systems and protect informationassets more effectively through actionable security intelligence
Sify's competitive edge comes from its vast and diverse expertise in security technologies, deep domain knowledge in information security consulting, excellence in delivering infrastructure managed services, and a solid understanding of the Internet and the threats associated with it.
About Sify
Sify is among the largest Internet, network and e-Commerce services companies in India, offering end-to-end solutions with a comprehensive range of products delivered over a common Internet backbone infrastructure. This Internet backbone reaches 348 cities and towns in India. A significant part of the company's revenue is derived from Corporate Services, which include corporate connectivity, network and communications solutions, security, network management services, enterprise applications and hosting. A host of blue chip customers use Sify's corporate service offerings. Consumer services include broadband home access, dial up connectivity and the iWay cyber café chain across 164 cities and towns. Sify is recognized as an ISO 9001:2000 certified service provider for network operations, data center operations and customer support, and for provisioning of VPNs, Internet bandwidth, VoIP Solutions and integrated security solutions, and BS7799 certified for Internet Data Center operations. Sify.com the consumer portal of Sify has sub portals like www.samachar.com, www.walletwatch.com, www.sifymax.com and www.chennailive.in, www.bangalorelive.in, www.mumbailive.in, www.hyderabadlive.in the city based live video on the web. The content is available in 5 Indian languages, which include Hindi, Malayalam, Telugu, Kannada and Tamil.
For more information about Sify, visit www.sifycorp.com
With this launch, Sify will offer its Enterprise customers the entire suite of Managed Security Services including 24x7 Monitoring and Management of Security Devices, Security Event Correlation and Reporting along with a range of other value added services like Vulnerability Protection, Compliance Monitoring and Forensics Services.
Mr. P J Nath, Executive President, Sify Enterprise Solutions, said, "Managed Security Services are one of the fastest growing services in India with a market size of about Rs 181 crores last year. We expect robust growth in demand over the next five to six years with many more companies moving towards online processes and storage, or enhancing their current capabilities. So the addition of end-to-end Managed Security Services to our Enterprise Services portfolio is timely, and will build on the considerable expertise we have developed over the years in infrastructure management and information security. The launch of these services makes Sify even more competitive in managed services with our range of enterprise service offerings across connectivity, hosting, applications and security enhanced by their addition".
Powered by a high-tech SOC in Bangalore and backed by a strong delivery platform using a dedicated customer web portal developed in-house, Sify is well poised to cater to the Managed Security needs of both domestic and global customers.
Sify's MSS will help customers to:
-- Proactively secure information assets and preempt security threats
-- Ensure 24x7 managed security for their mission critical assets with guaranteed SLAs
-- Ensure 24x7 availability of critical systems and protect informationassets more effectively through actionable security intelligence
Sify's competitive edge comes from its vast and diverse expertise in security technologies, deep domain knowledge in information security consulting, excellence in delivering infrastructure managed services, and a solid understanding of the Internet and the threats associated with it.
About Sify
Sify is among the largest Internet, network and e-Commerce services companies in India, offering end-to-end solutions with a comprehensive range of products delivered over a common Internet backbone infrastructure. This Internet backbone reaches 348 cities and towns in India. A significant part of the company's revenue is derived from Corporate Services, which include corporate connectivity, network and communications solutions, security, network management services, enterprise applications and hosting. A host of blue chip customers use Sify's corporate service offerings. Consumer services include broadband home access, dial up connectivity and the iWay cyber café chain across 164 cities and towns. Sify is recognized as an ISO 9001:2000 certified service provider for network operations, data center operations and customer support, and for provisioning of VPNs, Internet bandwidth, VoIP Solutions and integrated security solutions, and BS7799 certified for Internet Data Center operations. Sify.com the consumer portal of Sify has sub portals like www.samachar.com, www.walletwatch.com, www.sifymax.com and www.chennailive.in, www.bangalorelive.in, www.mumbailive.in, www.hyderabadlive.in the city based live video on the web. The content is available in 5 Indian languages, which include Hindi, Malayalam, Telugu, Kannada and Tamil.
For more information about Sify, visit www.sifycorp.com
Tuesday, January 29, 2008
50th Birthday of the LEGO Brick
The 50th birthday of the LEGO brick is in January 2008 and there is plenty to celebrate. Children all over the world have played with LEGO bricks for the past 50 years, and LEGO is still right at the top of many wish lists – just as it always has been. Industry and trade associations also recognize the LEGO success. Just before the turn of the millennium the LEGO brick was voted “Toy of the Century”, one of the highest awards in the toy industry, by both Fortune Magazine in the US and the British Association of Toy Retailers.The LEGO history began in 1932 in Denmark, when Ole Kirk Christansen founded a small factory for wooden toys in the unknown town of Billund in the south of the country. To find a name for his company he organized a competition among his employees. As fate would have it however, he himself came up with the best name: LEGO – a fusion of the Danish words “LEg” and “GOdt” (“play well”).
Barely 15 years later Christiansen discovered plastic as the ideal material for toy production, and bought the first injection moulding machine in Denmark. His courage, input and investment paid off: in 1949 he developed the LEGO brick prototype, which continues to excite countless children and adults to this very day. Over the years he perfected the brick, which is still the basis of the entire LEGO game and building system today. Of course there have been small adjustments in shape, colour and design from time to time, but today’s LEGO bricks still fit bricks from 1958.
Production of LEGO bricks with Acrylonitrile Butadine Styrene (ABS) began in 1963. This matt finish plastic is extremely hard, has a scratch and bite-resistant surface, and is ideal for keeping the bricks connected. LEGO labs regularly monitor the high quality of the ABS for the bricks. LEGO bricks are produced in special plants in Denmark, the Czech Republic and Mexico. The ABS compound is not delivered in a liquid form, but rather as granules, which are heated to 232° C until they melt. Injection moulding machines weighing up to 150 tons then press the hot and “gooey” plastic mass into LEGO brick shapes. The shapes dry and harden and, voilà – you have the famous LEGO brick!
There are 2,400 different LEGO brick shapes, which are produced with the greatest of precision and subjected to constant controls. Each injection mould is permitted a tolerance of no more than one thousandth of a millimetre, so that bricks of every colour and size stay firmly connected, allowing LEGO fans to build entire cities from all kinds of LEGO elements.
LEGO bricks in boxes that are not sold are melted again and turned into new bricks, in accordance with waste prevention and environmental responsibility.
Credits: Lego bricks website
Monday, January 28, 2008
IRDA Approves Stake Sale of 26% to ERGO International AG by HDFC LTD
Insurance Regulatory and Development Authority (IRDA) has 'in principle' approved the transfer of 26 per cent stake (32,500,000 equity shares of Rs.10/- each) in HDFC General Insurance Company Limited (HGICL) held by HDFC Limited in favour of ERGO International AG, part of the Munich Re Group.
HDFC Ltd. will receive INR 235 Crores from ERGO International AG for the 26% share in the HDFC General Insurance Company Ltd. The transaction is likely to be completed during this month.
Mr. Deepak Parekh, Chairman HDFC Ltd. said, "General Insurance has been one area where we have lagged behind. There are huge opportunities as the Indian Economy is growing over 9%. We need to gear up and focus our energies to become one of the prominent players of this fast growing industry. ERGO is a leading player in Europe, and I am certain that their vast experience, technical expertise & operational know-how will make a big difference for this business."
The Shareholder's agreement between the two companies was signed on October 30, 2007 between Mr. Deepak Parekh, Chairman of the Board of HDFC Ltd. and Dr. Nikolaus von Bomhard, CEO of ERGO's parent company - the Munich Re Group. HDFC General Insurance Company Ltd company will be renamed as HDFC ERGO General Insurance Company Ltd. and will be headquartered in Mumbai.
The new partnership will enable HDFC Ltd. to successfully grow its existing general insurance operations by further leveraging their outstanding brand equity and distribution strengths. For ERGO, entering the joint venture with HDFC Ltd. underlines the Group's international expansion strategy and offers a direct entry into the Indian general insurance market.
Background Information:
ERGO:
ERGO is the primary insurance entity of Munich Re Group, one of the world's leading risk carriers. ERGO is one of the largest insurance groups in Europe and Germany and is Europe's market leader in health and legal protection insurance. 33 million clients in 25 countries place their trust in the services, competence and security it provides. In the business year 2006, ERGO Insurance Group had gross premiums written of EUR 16.8bn and a consolidated result of EUR 906m.
HDFC LTD:
Incorporated in 1977, HDFC the pioneer of housing finance in India has assisted more than 3 million families to own a home of their own, through housing loans approvals of over Rs.1,750 billion. It has consistently striven for and developed an excellent reputation for professionalism, integrity and an impeccable record of customer friendly services.
HDFC has been described as a model housing finance company for developing countries with nascent housing finance markets. It has provided technical assistance in Bangladesh, Sri Lanka and Egypt and has undertaken consultancy assignments in various countries across Asia, Africa and East Europe.
It has been recognized among India's Best Managed Companies and today has emerged as a financial conglomerate by promoting a bank, insurance company (for life and general), an asset management company, a realty company, a credit bureau and a real estate venture capital company. The HDFC group has an asset base of over Rs 2,100 billion and a customer base of over 17 million.
HDFC Ltd. will receive INR 235 Crores from ERGO International AG for the 26% share in the HDFC General Insurance Company Ltd. The transaction is likely to be completed during this month.
Mr. Deepak Parekh, Chairman HDFC Ltd. said, "General Insurance has been one area where we have lagged behind. There are huge opportunities as the Indian Economy is growing over 9%. We need to gear up and focus our energies to become one of the prominent players of this fast growing industry. ERGO is a leading player in Europe, and I am certain that their vast experience, technical expertise & operational know-how will make a big difference for this business."
The Shareholder's agreement between the two companies was signed on October 30, 2007 between Mr. Deepak Parekh, Chairman of the Board of HDFC Ltd. and Dr. Nikolaus von Bomhard, CEO of ERGO's parent company - the Munich Re Group. HDFC General Insurance Company Ltd company will be renamed as HDFC ERGO General Insurance Company Ltd. and will be headquartered in Mumbai.
The new partnership will enable HDFC Ltd. to successfully grow its existing general insurance operations by further leveraging their outstanding brand equity and distribution strengths. For ERGO, entering the joint venture with HDFC Ltd. underlines the Group's international expansion strategy and offers a direct entry into the Indian general insurance market.
Background Information:
ERGO:
ERGO is the primary insurance entity of Munich Re Group, one of the world's leading risk carriers. ERGO is one of the largest insurance groups in Europe and Germany and is Europe's market leader in health and legal protection insurance. 33 million clients in 25 countries place their trust in the services, competence and security it provides. In the business year 2006, ERGO Insurance Group had gross premiums written of EUR 16.8bn and a consolidated result of EUR 906m.
HDFC LTD:
Incorporated in 1977, HDFC the pioneer of housing finance in India has assisted more than 3 million families to own a home of their own, through housing loans approvals of over Rs.1,750 billion. It has consistently striven for and developed an excellent reputation for professionalism, integrity and an impeccable record of customer friendly services.
HDFC has been described as a model housing finance company for developing countries with nascent housing finance markets. It has provided technical assistance in Bangladesh, Sri Lanka and Egypt and has undertaken consultancy assignments in various countries across Asia, Africa and East Europe.
It has been recognized among India's Best Managed Companies and today has emerged as a financial conglomerate by promoting a bank, insurance company (for life and general), an asset management company, a realty company, a credit bureau and a real estate venture capital company. The HDFC group has an asset base of over Rs 2,100 billion and a customer base of over 17 million.
Alabot Partners with mobile-worx to Launch Intelligent SMS Search Using Alabot's A.I., NLP Platform
Alabot has announced its partnership with mobile-worx, a leading mobility solutions firm to launch Intelligent SMS Search in India.
The service will be powered by a "bot" - a self directed intelligent agent, who understands natural human language and interacts with users using non syntax based data inputs.
This Intelligent SMS Search will enable users to search the directory of users (from open social networks), mobile content, local business directories, local deals, train / flight tickets, hotel deals and movie tickets for major cities in India. Users can eventually transact through the service.
The service will be completely supported through mobile advertising as a primary business model and contextually relevant ads will be inserted during the conversation as recommendations by the bot.
This interactive interface represents the next step in the usability of mobile SMS applications and will remove the frustrating roadblock of remembering keywords of short code based services by combining and aggregating local search in an extremely user friendly interface.
Users can search using phrases from English, Hindi and other languages without having to remember syntax, sentence structure or multiple short codes
Both Alabot and mobile-worx are in the process of forming alliances with a slew of content partners that will drive the search service.
ZestADZ - India's leading mobile ad marketplace will serve contextually relevant text advertisements and related offers that will be recommended to the user during the conversation, making the service highly contextual and non invasive.
"Alabot is a paradigm shift in how SMS services are used currently and we are pleased to be partnering with mobile -worx to take this innovative product to market." said Akshat Shrivastava, CEO of Alabot.
"Intent marketing works - this has been proven time and again. This service will better understand the users intent and make recommendations to him delivering compelling value to advertisers", said Asif Ali, President, mobile-worx.
About Alabot
We are a company working on Artificial Intelligence and Natural Language Processing algorithms. Our vision is to "Talk Enable" any application and progressively enhance the reach and usability of search, enterprise applications and user interface platforms.
Alabot enabled applications are extremely simple to use and require no learning curve as you can talk to the application naturally. Simple easy to use technology which monetizes chat intelligently.
The uses of our bot are widespread over different mediums like Mobiles, Personal Instant Messengers and the Web platforms. The idea being we understand the need for business and individuals to make decisions on the fly, and that human responses are dynamic, and thus need more than generic statements to give relevant replies. Alabot's algorithm custom solution which consists of a rule engine, NLP engine and parser, helper API hooks etc understands queries and smoothens the transactional process
Ala has been designed ground up to work as a Rapid Application Development Platform, where business rules can be applied, NLP and the phonetic engine configured thereby enabling the application to be up and running in a few weeks across all
connected mediums.
Akshat Shrivastava is the CEO of Alabot. A serial entrepreneur, he handles strategy and direction at Alabot.
Gaurav Prasad is the CTO of Alabot and leads research and development of the product. GP is a pioneer in creating innovative applications and is based out of Noida, India.
For more information on Alabot please visit http://www.alabot.com
About ZestADZ
ZestADZ - India's leading mobile advertising marketplace. ZestADZ is a multi-format (WAP, SMS and mobile-video) advertising platform. ZestADZ delivers highly targeted and relevant ads and delivers compelling value to users, publishers and advertisers. ZestADZ embodies the core tenets of Seth Godin's permission based marketing.
For more information on ZestADZ visit http://www.zestadz.com
About mobile-worx
mobile-worx is a leading provider of mobility solutions with offices in US, India and Malaysia.
Mobile-worx has offices in Chennai, Mumbai (Bombay), Los Angeles and Kuala Lumpur.
For more information on mobile-worx, please visit http://www.mobile-worx.com
The service will be powered by a "bot" - a self directed intelligent agent, who understands natural human language and interacts with users using non syntax based data inputs.
This Intelligent SMS Search will enable users to search the directory of users (from open social networks), mobile content, local business directories, local deals, train / flight tickets, hotel deals and movie tickets for major cities in India. Users can eventually transact through the service.
The service will be completely supported through mobile advertising as a primary business model and contextually relevant ads will be inserted during the conversation as recommendations by the bot.
This interactive interface represents the next step in the usability of mobile SMS applications and will remove the frustrating roadblock of remembering keywords of short code based services by combining and aggregating local search in an extremely user friendly interface.
Users can search using phrases from English, Hindi and other languages without having to remember syntax, sentence structure or multiple short codes
Both Alabot and mobile-worx are in the process of forming alliances with a slew of content partners that will drive the search service.
ZestADZ - India's leading mobile ad marketplace will serve contextually relevant text advertisements and related offers that will be recommended to the user during the conversation, making the service highly contextual and non invasive.
"Alabot is a paradigm shift in how SMS services are used currently and we are pleased to be partnering with mobile -worx to take this innovative product to market." said Akshat Shrivastava, CEO of Alabot.
"Intent marketing works - this has been proven time and again. This service will better understand the users intent and make recommendations to him delivering compelling value to advertisers", said Asif Ali, President, mobile-worx.
About Alabot
We are a company working on Artificial Intelligence and Natural Language Processing algorithms. Our vision is to "Talk Enable" any application and progressively enhance the reach and usability of search, enterprise applications and user interface platforms.
Alabot enabled applications are extremely simple to use and require no learning curve as you can talk to the application naturally. Simple easy to use technology which monetizes chat intelligently.
The uses of our bot are widespread over different mediums like Mobiles, Personal Instant Messengers and the Web platforms. The idea being we understand the need for business and individuals to make decisions on the fly, and that human responses are dynamic, and thus need more than generic statements to give relevant replies. Alabot's algorithm custom solution which consists of a rule engine, NLP engine and parser, helper API hooks etc understands queries and smoothens the transactional process
Ala has been designed ground up to work as a Rapid Application Development Platform, where business rules can be applied, NLP and the phonetic engine configured thereby enabling the application to be up and running in a few weeks across all
connected mediums.
Akshat Shrivastava is the CEO of Alabot. A serial entrepreneur, he handles strategy and direction at Alabot.
Gaurav Prasad is the CTO of Alabot and leads research and development of the product. GP is a pioneer in creating innovative applications and is based out of Noida, India.
For more information on Alabot please visit http://www.alabot.com
About ZestADZ
ZestADZ - India's leading mobile advertising marketplace. ZestADZ is a multi-format (WAP, SMS and mobile-video) advertising platform. ZestADZ delivers highly targeted and relevant ads and delivers compelling value to users, publishers and advertisers. ZestADZ embodies the core tenets of Seth Godin's permission based marketing.
For more information on ZestADZ visit http://www.zestadz.com
About mobile-worx
mobile-worx is a leading provider of mobility solutions with offices in US, India and Malaysia.
Mobile-worx has offices in Chennai, Mumbai (Bombay), Los Angeles and Kuala Lumpur.
For more information on mobile-worx, please visit http://www.mobile-worx.com
Thursday, January 24, 2008
Toxic Tort Lawsuit Filed Against IBM
Nearly 100 residents of Endicott—the birthplace of IBM—and the neighboring town of Union have filed a toxic tort lawsuit against the company, claiming that contamination from a local IBM plant caused health problems and property devaluation.
Decades of Contamination
"This is contamination involving toxic contamination in the groundwater that then through vapor intrusion got into people's homes. And it's contamination we believe has been there back into the 1960s," said attorney Stephen Schwarz.
However, the contamination was not known until 2003 and now the contamination is being cited as the source of cancer, birth defects and other ailments suffered by local residents.
Compensating Victims
Attorneys for the plaintiffs say they "have one simple goal, to get reasonable compensation for the injuries our clients have sustained."
More lawsuits against the company are expected to follow in the coming months on behalf of about 900 Endicott and Union residents.
Decades of Contamination
"This is contamination involving toxic contamination in the groundwater that then through vapor intrusion got into people's homes. And it's contamination we believe has been there back into the 1960s," said attorney Stephen Schwarz.
However, the contamination was not known until 2003 and now the contamination is being cited as the source of cancer, birth defects and other ailments suffered by local residents.
Compensating Victims
Attorneys for the plaintiffs say they "have one simple goal, to get reasonable compensation for the injuries our clients have sustained."
More lawsuits against the company are expected to follow in the coming months on behalf of about 900 Endicott and Union residents.
Justices to Hear Cases on Product Liability; Tort cases
The Supreme Court's already substantial investment in defining the boundary between federal regulation and state tort law grew even bigger on Friday. The justices added two new cases to their docket on drug and cigarette labeling requirements.
In each case, as in four others the court has already agreed to decide in the current term, the question is one of federal pre-emption. The cases offer variations of a common question: if a product meets federal standards, can the manufacturer be liable for damages under state law for injuries suffered by consumers?
In the cigarette case, Altria Group Inc. v. Good, No. 07-562, the issue is whether state consumer-fraud laws can be used to sue cigarette makers for advertising a brand as containing low tar and nicotine.
Altria, the parent company of Philip Morris USA, argues that any finding of liability is pre-empted by the Federal Cigarette Labeling and Advertising Act as well as by the fact that the low-tar and low-nicotine descriptions are based on the results of a test required by the Federal Trade Commission.
The United States Court of Appeals for the First Circuit, in Boston, in a case brought under Maine's law prohibiting deceptive trade practices, rejected Altria's claim and reinstated a lawsuit brought by smokers who claimed that the packaging for Marlboro Lights and Cambridge Lights was deceptive. The plaintiffs argue that because smokers compensate for the lower nicotine by inhaling more deeply or smoking more cigarettes, any claimed health benefit from the brands is inherently fraudulent.
In the drug labeling case, the plaintiff was a guitar player who suffered the career-ending amputation of her right arm after being injected in a hospital with an anti-nausea drug made by Wyeth.
Gangrene and subsequent amputation was a risk from intravenous administration of the drug, Phenergan. The plaintiff, Diana Levine, argues that the federally approved label did not give doctors a specific enough warning about the risks of the method used to give her the drug.
The state courts in Vermont allowed Ms. Levine to sue for damages under state law and upheld a jury verdict of more than $6 million. The manufacturer's Supreme Court appeal, Wyeth v. Levine, No. 06-1249, argues that the lawsuit was pre-empted by the Food and Drug Administration's approval of the label.
The Bush administration, which reversed a longstanding policy against pre-emption in drug cases, is supporting the appeal. In a brief filed this month in response to the Supreme Court's request for its views, the administration said the agency's approval of the Phenergan label "reflects F.D.A.'s expert judgment that the labeling strikes the appropriate balance." The brief added: "Where, as here, F.D.A. was presented with information concerning the relevant risk, a jury's imposition of liability based on a drug's F.D.A.-approved labeling would interfere with F.D.A.'s expert judgment."
Nonetheless, the court's decision to grant Wyeth's appeal at this point was surprising. The administration urged the justices to defer action until they decide, later this term, another medicine-related pre-emption case that was argued last month.
That case, Riegel v. Medtronic Inc., No. 06-179, presents a question under a separate statute, the Medical Device Amendments, which governs the F.D.A.'s premarket approval process for devices like the balloon catheter at issue in the case. There is considerable overlap between that process and the one for approving new drugs under the Food, Drug and Cosmetic Act, which is at issue in the new case.
The court had also agreed to decide a third pre-emption case involving the F.D.A., concerning whether state law can be used to determine whether a manufacturer defrauded the agency in seeking approval for a drug application. That case, Warner-Lambert v. Kent, No. 06-1498, will be argued Feb. 25. The justices have not announced whether they will hear the new case in April or at the start of the new term in October.
The proliferation of pre-emption cases on the court's docket in part reflects the considerable turmoil in the lower courts over the complex issues involved. It also reflects a concerted effort by the business community to push for federal pre-emption as a shield against state courts.
The United States Chamber of Commerce filed a vigorously worded brief in the cigarette case that the court accepted Friday, emphasizing for the justices the "jurisprudential gulf" that separates various lower court rulings on whether federally approved or required product labels should be given pre-emptive effect against state tort liability.
Referring to the lower court's ruling in the cigarette case, the chamber's brief said that "if allowed to stand, the First Circuit's approach would Balkanize cigarette labeling, advertising, and promotion into a state-by-state endeavor," adding that "it is difficult to imagine a more powerful blow to the interest of nationwide uniformity and consistency."
The plaintiffs' brief to the court emphasized the factual allegations of their case: that Philip Morris knew from its own research that based on actual smoking habits, smokers received the same tar and nicotine from "light" cigarettes as from regular brands, but that the company kept this from the F.T.C.
In each case, as in four others the court has already agreed to decide in the current term, the question is one of federal pre-emption. The cases offer variations of a common question: if a product meets federal standards, can the manufacturer be liable for damages under state law for injuries suffered by consumers?
In the cigarette case, Altria Group Inc. v. Good, No. 07-562, the issue is whether state consumer-fraud laws can be used to sue cigarette makers for advertising a brand as containing low tar and nicotine.
Altria, the parent company of Philip Morris USA, argues that any finding of liability is pre-empted by the Federal Cigarette Labeling and Advertising Act as well as by the fact that the low-tar and low-nicotine descriptions are based on the results of a test required by the Federal Trade Commission.
The United States Court of Appeals for the First Circuit, in Boston, in a case brought under Maine's law prohibiting deceptive trade practices, rejected Altria's claim and reinstated a lawsuit brought by smokers who claimed that the packaging for Marlboro Lights and Cambridge Lights was deceptive. The plaintiffs argue that because smokers compensate for the lower nicotine by inhaling more deeply or smoking more cigarettes, any claimed health benefit from the brands is inherently fraudulent.
In the drug labeling case, the plaintiff was a guitar player who suffered the career-ending amputation of her right arm after being injected in a hospital with an anti-nausea drug made by Wyeth.
Gangrene and subsequent amputation was a risk from intravenous administration of the drug, Phenergan. The plaintiff, Diana Levine, argues that the federally approved label did not give doctors a specific enough warning about the risks of the method used to give her the drug.
The state courts in Vermont allowed Ms. Levine to sue for damages under state law and upheld a jury verdict of more than $6 million. The manufacturer's Supreme Court appeal, Wyeth v. Levine, No. 06-1249, argues that the lawsuit was pre-empted by the Food and Drug Administration's approval of the label.
The Bush administration, which reversed a longstanding policy against pre-emption in drug cases, is supporting the appeal. In a brief filed this month in response to the Supreme Court's request for its views, the administration said the agency's approval of the Phenergan label "reflects F.D.A.'s expert judgment that the labeling strikes the appropriate balance." The brief added: "Where, as here, F.D.A. was presented with information concerning the relevant risk, a jury's imposition of liability based on a drug's F.D.A.-approved labeling would interfere with F.D.A.'s expert judgment."
Nonetheless, the court's decision to grant Wyeth's appeal at this point was surprising. The administration urged the justices to defer action until they decide, later this term, another medicine-related pre-emption case that was argued last month.
That case, Riegel v. Medtronic Inc., No. 06-179, presents a question under a separate statute, the Medical Device Amendments, which governs the F.D.A.'s premarket approval process for devices like the balloon catheter at issue in the case. There is considerable overlap between that process and the one for approving new drugs under the Food, Drug and Cosmetic Act, which is at issue in the new case.
The court had also agreed to decide a third pre-emption case involving the F.D.A., concerning whether state law can be used to determine whether a manufacturer defrauded the agency in seeking approval for a drug application. That case, Warner-Lambert v. Kent, No. 06-1498, will be argued Feb. 25. The justices have not announced whether they will hear the new case in April or at the start of the new term in October.
The proliferation of pre-emption cases on the court's docket in part reflects the considerable turmoil in the lower courts over the complex issues involved. It also reflects a concerted effort by the business community to push for federal pre-emption as a shield against state courts.
The United States Chamber of Commerce filed a vigorously worded brief in the cigarette case that the court accepted Friday, emphasizing for the justices the "jurisprudential gulf" that separates various lower court rulings on whether federally approved or required product labels should be given pre-emptive effect against state tort liability.
Referring to the lower court's ruling in the cigarette case, the chamber's brief said that "if allowed to stand, the First Circuit's approach would Balkanize cigarette labeling, advertising, and promotion into a state-by-state endeavor," adding that "it is difficult to imagine a more powerful blow to the interest of nationwide uniformity and consistency."
The plaintiffs' brief to the court emphasized the factual allegations of their case: that Philip Morris knew from its own research that based on actual smoking habits, smokers received the same tar and nicotine from "light" cigarettes as from regular brands, but that the company kept this from the F.T.C.
Wednesday, January 23, 2008
Bombay Stock Exchange Update (BSE) Indian shares move up on Fed rate cut amid volatility
Amid high volatility, Indian shares moved up Wednesday after opening higher as the US Federal Reserve stepped in to cushion the global financial crisis with a cut in interest rates, triggering positive reactions in stock markets across the globe.
The sensitive index (Sensex) of the Bombay Stock Exchange (BSE) opened higher at 17,415.26 points, with a gain of 685.32 points, over the previous day's close at 16,729.94 points.
By noon, the index was ruling at 17,311.97 points, with a gain of 582.03 points, or 3.48 percent, data with the bourse showed. All sector-specific indices were also ruling higher.
But lingering uncertainty over possible recession in the US saw the key index fluctuate wildly in a broad range of 725.57 points as investors tried to book profits at every small rise, analysts said.
Considering Tuesday's close, the peak of 17,676.60 points reached minutes after commencement of trading meant a rise of 946.66 points.
The sector-specific index for realty stocks led the upswing, followed by those for oil and gas, power, metals, state-run units, banking, consumer goods and automobiles.
Among specific stocks, Bharat Heavy Electricals Ltd was up 9.06 percent, NTPC was up 8.08 percent, Reliance Communications gained 6.92 percent, Hindustan Aluminium was up 6.72 percent and Reliance Energy rose 6.32 percent.
Ranbaxy Laboratories, Satyam Computers, Housing Development Finance Corp, Reliance Industries, Tata Consultancy, Associate Cement, Mahindra and Mahindra also made moderate gains.
Monday and Tuesday saw the barometer plummet 1,408.35 points, or 7.41 percent, and 875.41 points, or 4.97 percent, on account of panic selling, in line with the movements across the globe from Tokyo to New York.
The authorities at the Mumbai bourse had to suspend trading for an hour Tuesday, as Sensex fell below the circuit breaker level, before a pep talk from Finance Minister P. Chidambaram on the fundamentally strong Indian economy helped ease the losses.
Investors had lost $170 billion Monday in terms of market capitalisation, with another $95 billion shaved off the valuations the next day as scrip after scrip lost ground on account of panic selling.
Stung by fears of a possible recession, The US Federal Reserve had delivered a surprise interest rate cut of 75 basis points early Tuesday, which shored up market confidence across the globe, including India.
Indo-Asian News Service
The sensitive index (Sensex) of the Bombay Stock Exchange (BSE) opened higher at 17,415.26 points, with a gain of 685.32 points, over the previous day's close at 16,729.94 points.
By noon, the index was ruling at 17,311.97 points, with a gain of 582.03 points, or 3.48 percent, data with the bourse showed. All sector-specific indices were also ruling higher.
But lingering uncertainty over possible recession in the US saw the key index fluctuate wildly in a broad range of 725.57 points as investors tried to book profits at every small rise, analysts said.
Considering Tuesday's close, the peak of 17,676.60 points reached minutes after commencement of trading meant a rise of 946.66 points.
The sector-specific index for realty stocks led the upswing, followed by those for oil and gas, power, metals, state-run units, banking, consumer goods and automobiles.
Among specific stocks, Bharat Heavy Electricals Ltd was up 9.06 percent, NTPC was up 8.08 percent, Reliance Communications gained 6.92 percent, Hindustan Aluminium was up 6.72 percent and Reliance Energy rose 6.32 percent.
Ranbaxy Laboratories, Satyam Computers, Housing Development Finance Corp, Reliance Industries, Tata Consultancy, Associate Cement, Mahindra and Mahindra also made moderate gains.
Monday and Tuesday saw the barometer plummet 1,408.35 points, or 7.41 percent, and 875.41 points, or 4.97 percent, on account of panic selling, in line with the movements across the globe from Tokyo to New York.
The authorities at the Mumbai bourse had to suspend trading for an hour Tuesday, as Sensex fell below the circuit breaker level, before a pep talk from Finance Minister P. Chidambaram on the fundamentally strong Indian economy helped ease the losses.
Investors had lost $170 billion Monday in terms of market capitalisation, with another $95 billion shaved off the valuations the next day as scrip after scrip lost ground on account of panic selling.
Stung by fears of a possible recession, The US Federal Reserve had delivered a surprise interest rate cut of 75 basis points early Tuesday, which shored up market confidence across the globe, including India.
Indo-Asian News Service
The myth about world economy's independence from US economy
The steep Asian and European stock market fall seriously challenges the recent wisdom that the global markets have finally become independent of and immune to any slide in the US economy. If anything, the panic on the Asian and European stock markets only underscores how seriously misplaced this assertion was.
The subprime loan crisis, which is devouring America's real estate industry, was considered a local problem by many outside the US until they discovered how many major global players in fact stood quite close to the fire - thanks to complex deal making that goes on behind such mortgages.
As late as Monday, many in the US believed that the Federal Reserve, which sets the country's monetary policy, would prefer to let the subprime market crisis sort itself out. However, the scale and spread of the market panic in Asia and Europe reversed that view practically overnight with the Fed, as the Federal Reserve is known, intervened on Tuesday with the biggest interest rate cut of 0.75 percent since October, 1984.
It is true that the dramatic market fall was caused as much by the perception of a weakening and perhaps even recessive US economy as the early reality of it. What is surprising is that the global markets remained unaffected by the problems in the US for so long. What is even more intriguing is that after surging ahead for months the global markets took an about-turn as if they had just chanced upon the challenges in the US.
The red hot economies of India and China, one growing at nearly nine percent and the other between 11 and 12 percent, and overall strengthening of other Asian economies such as Japan, created the impression among many observers that finally the world economy was significantly reducing its dependence on the US.
On the contrary, as it turned out in the last couple of days, the world still remains inextricably attached to the fortunes of the US economy.
That is where the uncertain politics in the US come into play in so much as they impact the rest of the global community. With less than a year left for the Bush administration and it having lost most of its initiative on any substantive issues, especially the economy, it is seriously doubtful whether there would be a turnaround any time soon.
In a sense the US economic management is caught in the vicissitudes of electoral politics. The Bush administration is practically into its lame duck period where the president no longer sets or controls the agenda. On the other hand there is no one other than George Bush who at least theoretically has the power and the platform to intervene by the sheer virtue of still being president. The dichotomy is that the platform has lost its effectiveness.
The global fall put the US Federal Reserve in a peculiar spot. If it was contemplating a hands-off approach, as many had speculated, it had to change gears suddenly in the aftermath. A hands-off approach may have been a strategy to send a signal to the rest of the world that the problem is not as serious as the markets had concluded. However, on Tuesday the Fed reversed that strategy and delivered a dramatic three-quarters of a percentage point cut. Obviously, the hope was that such a big cut would calm frayed nerves on the Wall Street. But it had the opposite effect as the Dow Jones fell irrespective of the announcement.
The Federal Open Market Committee seemed to foreshadow recession that in so many words. It said, "Appreciable downside risks to growth remain" without really succeeding to hide that it was concerned about recession.
"The committee took this action in view of a weakening of the economic outlook and increasing downside risks to growth. While strains in short-term funding markets have eased somewhat, broader financial market conditions have continued to deteriorate and credit has tightened further for some businesses and households. Moreover, incoming information indicates a deepening of the housing contraction as well as some softening in labor markets," it said.
The announcement of a $150 billion stimulus package by the Bush administration coupled with the interest rate cut to bolster the US economy are measures that could well ease some of the pressures but at this stage it is anybody's guess when and if the global markets will be able to internalize the problems in the US without any significant loss.
Indo-Asian News Service
Tuesday, January 22, 2008
Swiss Agency for Development and Cooperation Gives $100,000 Sponsorship to Microfinance Magazine MICROFINANCE INSIGHTS
Swiss Agency for Development and Cooperation (SDC) and Microfinance Insights, the quarterly flagship publication of the Indian investment and consulting firm Intellecap, have entered into a partnership to build an inclusive and sustainable financial sector through the development and dissemination of domain knowledge.
SDC has played an important role in advancing policy debate for the microfinance sector for over thirty years. Microfinance Insights has become a vital resource in the microfinance sector since its inception one year ago. By granting the magazine INR 4'100'000 (US$103,000) sponsorship, SDC will enable Microfinance Insights to continue as a leading sector resource, to increase its international reach and content especially in developing countries, to host events in conjunction with each issue, and to build a world class website for the magazine.
Microfinance Insights, the only quarterly publication of its kind globally, promotes knowledge exchange and fosters communication about microfinance among developing countries with an underlying focus on South-South Cooperation. Published in India, the magazine is international in scope which is reflected in articles focusing on global trends and initiatives. Each issue covers a contemporary theme through in-depth coverage, interviews and analysis. The fifth issue, released earlier this month analyzes the trajectory and growth potential of microinsurance and reveals how it can mitigate risks for the poor.
On the decision to invest in Microfinance Insights, SDC India's Deputy Country Director Adrian Marti said, "SDC strongly believes that the sharing of knowledge, especially South-South exchange, will be a key factor in the growth and sustainability of the sector, where so many new actors have pitched in. We are confident that best practices, cutting edge work and critical debate from around the world will be showcased in Microfinance Insights. SDC, which has country offices around the world, and Microfinance Insights make an excellent match which will bring the sector forward."
Aparajita Agrawal, Associate Vice President of Intellecap, said, "SDC's generous support will enable us to accelerate our goal of becoming the most comprehensive, consolidated source of insight and analysis on the microfinance sector."
The publication is referred to by many microfinance leaders, who have praised it as an invaluable resource. NV Ramana, Group CEO of BASIX India said, "At BASIX, we want all our employees to be updated on the current events and happenings in the sector. We believe Microfinance Insights is one of the publications which, with its coverage of trends and issues, and focused attention on key challenges can help keep practitioners abreast with the world around."
Past issues have included contributions from the World Bank, Michael and Susan Dell Foundation and leading MFIs. Previous themes covered by the publication include MFI governance, urban microfinance, the role of capital markets in microfinance, and innovations in the sector.
The next issue, due in April 2008, will focus on human resource challenges within the microfinance sector.
Subscriptions are available online:
www.microfinanceinsights.com. Advertising packages for financial institutions, MFIs, NGOs, technology firms and market facilitators are available. For subscription details, article contributions and to advertise, write to publications@intellecap.net or call +91-22-32535292 or +91-22-28801572. To learn more about the magazine, visit www.microfinanceinsights.com.
SDC has played an important role in advancing policy debate for the microfinance sector for over thirty years. Microfinance Insights has become a vital resource in the microfinance sector since its inception one year ago. By granting the magazine INR 4'100'000 (US$103,000) sponsorship, SDC will enable Microfinance Insights to continue as a leading sector resource, to increase its international reach and content especially in developing countries, to host events in conjunction with each issue, and to build a world class website for the magazine.
Microfinance Insights, the only quarterly publication of its kind globally, promotes knowledge exchange and fosters communication about microfinance among developing countries with an underlying focus on South-South Cooperation. Published in India, the magazine is international in scope which is reflected in articles focusing on global trends and initiatives. Each issue covers a contemporary theme through in-depth coverage, interviews and analysis. The fifth issue, released earlier this month analyzes the trajectory and growth potential of microinsurance and reveals how it can mitigate risks for the poor.
On the decision to invest in Microfinance Insights, SDC India's Deputy Country Director Adrian Marti said, "SDC strongly believes that the sharing of knowledge, especially South-South exchange, will be a key factor in the growth and sustainability of the sector, where so many new actors have pitched in. We are confident that best practices, cutting edge work and critical debate from around the world will be showcased in Microfinance Insights. SDC, which has country offices around the world, and Microfinance Insights make an excellent match which will bring the sector forward."
Aparajita Agrawal, Associate Vice President of Intellecap, said, "SDC's generous support will enable us to accelerate our goal of becoming the most comprehensive, consolidated source of insight and analysis on the microfinance sector."
The publication is referred to by many microfinance leaders, who have praised it as an invaluable resource. NV Ramana, Group CEO of BASIX India said, "At BASIX, we want all our employees to be updated on the current events and happenings in the sector. We believe Microfinance Insights is one of the publications which, with its coverage of trends and issues, and focused attention on key challenges can help keep practitioners abreast with the world around."
Past issues have included contributions from the World Bank, Michael and Susan Dell Foundation and leading MFIs. Previous themes covered by the publication include MFI governance, urban microfinance, the role of capital markets in microfinance, and innovations in the sector.
The next issue, due in April 2008, will focus on human resource challenges within the microfinance sector.
Subscriptions are available online:
www.microfinanceinsights.com. Advertising packages for financial institutions, MFIs, NGOs, technology firms and market facilitators are available. For subscription details, article contributions and to advertise, write to publications@intellecap.net or call +91-22-32535292 or +91-22-28801572. To learn more about the magazine, visit www.microfinanceinsights.com.
Microsoft and Citrix Expand Alliance to Deliver Virtualization Solutions From Desktops to Datacenters
Microsoft Corp. (NASDAQ:MSFT) and Citrix Systems Inc. (NASDAQ:CTXS) today announced an expanded alliance to deliver a comprehensive set of virtualization solutions to address the desktop and server virtualization needs of customers. The two companies will work together to deliver and market joint virtualization solutions with Windows Server 2008 to help customers achieve a flexible and dynamic client computing infrastructure.For more than 18 years, Microsoft and Citrix have offered customers solutions to deliver Windows-based applications using Citrix Presentation Server(TM) running on Terminal Services. Now the companies plan to co-market new client computing offerings with the next generation of Citrix Presentation Server and the Citrix XenDesktop(TM) products, both based on Windows Server 2008 and Windows Optimized Desktop solutions, and managed by Microsoft System Center. With these solutions, customers can build an array of flexible, low-cost and manageable client computing options for different types of enterprise users.
Citrix Presentation Server along with Windows Server 2008 enables customers to deliver remote Windows-based applications at a low cost and with high performance for users. The next generation of Citrix Presentation Server will support and extend Windows Server 2008 and will help enable customers to use Windows Server 2008 for the remote Windows application execution workload.
Citrix XenDesktop is a complete desktop virtualization system and, when combined with Windows Server 2008, Windows Vista Enterprise Centralized Desktop and System Center, will help enable customers to deliver Windows-based desktops to virtually all task-based and knowledge-based workers at a low cost, and with high performance and enhanced security features. Citrix XenDesktop, planned for release in second quarter 2008, will support and extend Windows Server 2008 shortly after the availability of Hyper-V, a hypervisor-based virtualization feature available as part of Windows Server 2008. The two companies will work together to co-market both of those solutions -- Citrix Presentation Server and Citrix XenDesktop along with Windows Server 2008 and System Center -- to help customers meet the full spectrum of their Windows client computing needs. This expanded alliance also marks an initial step toward a longer-term plan to collaborate on future desktop virtualization solutions.
"Citrix's end-to-end virtualization strategy includes a strong shared alliance with Microsoft and a commitment to continued innovation on the Windows platform," said Mark Templeton, chief executive officer of Citrix Systems. "By leveraging our strength in desktop virtualization in support of the Windows Server 2008 platform and System Center, our development efforts enable businesses to deliver the right desktop experience to the right user at the right time for the increasingly diverse set of user needs. Customers should find that our virtualization products together provide one of the best ways to virtualize Windows apps, desktops and servers."
Microsoft and Citrix also have extended their alliance for server virtualization to enable IT departments to run heterogeneous hypervisor software. Citrix is developing a capability to enable the portability of virtual machines between the Xen hypervisor in Citrix XenServer(TM) and Windows Server 2008 Hyper-V. This capability will offer the companies' joint customers a unified portfolio of virtual infrastructures that utilizes both Hyper-V and the Xen hypervisor under a common System Center management platform. This capability is scheduled to be available for beta evaluation in the second quarter of 2008.
Microsoft and Citrix will offer server virtualization solutions with the combination of Windows Server 2008 Hyper-V, System Center family of products and Citrix XenServer. Citrix will extend support for Windows Server 2008 Hyper-V and Microsoft System Center in all its virtualization products: XenDesktop, Presentation Server and XenServer. As part of this collaboration, a future version of System Center Virtual Machine Manager will support managing Citrix XenServer, and Citrix plans to integrate Hyper-V with Citrix XenServer. This collaboration will enable customers to easily deploy and manage heterogeneous virtualization environments built on both Citrix XenServer and Hyper-V.
"For nearly two decades, Microsoft and Citrix have delivered significant value to customers, and we're excited to expand our work around desktop and server virtualization technologies," said Bob Muglia, senior vice president of the Server and Tools Business at Microsoft. "Virtualization enables our customers to deliver the right computing resources to their employees virtually anytime, anywhere, regardless of the situation, and helps create IT systems that are more efficient, more flexible and more cost-effective. Microsoft and Citrix are working together on product integration so that customers have access to comprehensive and flexible virtualization solutions, all controlled by an integrated management platform."
Today's announcement is another milestone in the alliance between Citrix and Microsoft. Also recently, the two companies have collaborated on solutions designed to simplify branch office computing using Citrix WANScaler(TM) running on the Windows Server 2003 and Microsoft Internet Security and Acceleration Server platforms. In the area of virtualization software, the companies agreed in September 2007 to standardize the companies' desktop and application virtualization solutions on the Microsoft Virtual Hard Disk (VHD) format as a common runtime environment. And in July 2006, before Citrix's acquisition of XenSource, Microsoft and XenSource announced plans to provide interoperability between Xen-enabled Linux and Hyper-V in Windows Server 2008.
About Citrix
Citrix Systems, Inc. (NASDAQ:CTXS) is the global leader and the most trusted name in application delivery infrastructure. More than 200,000 organizations worldwide rely on Citrix to deliver any application to users anywhere with the best performance, highest security and lowest cost. Citrix customers include 100% of the Fortune 100 companies and 99% of the Fortune Global 500, as well as hundreds of thousands of small businesses and prosumers. Citrix has approximately 6,200 channel and alliance partners in more than 100 countries. Annual revenue in 2006 was $1.1 billion.
About Microsoft
Founded in 1975, Microsoft (NASDAQ:MSFT) is the worldwide leader in software, services and solutions that help people and businesses realize their full potential.
Scrapblog Announces 2007's Biggest Online Scrapbooking Trends
After having more than one million pages created in its first nine months, Scrapblog shares 2007's biggest and most surprising developments
Scrapblog, Inc., the first web-based service for creating and sharing multimedia scrapbooks online, has released a report highlighting the largest and most interesting themes and trends in online scrapbooking in 2007. Launched in April 2007 and hosting more than one million online scrapbook pages, Scrapblog has identified several large, interesting trends of the past year. Scrapblog's milestones and industry findings include:
Company milestones:
-- 1.2 million Scrapblog pages created in company's first 9 months
(4/2/2007 through 12/31/2007)
-- 50% of total pages were created in Q4 alone (Oct-Dec)
-- A 400% increase in page views in Q4 (Oct-Dec)
Industry trends:
-- 4 out of 5 online scrapbookers are women
-- 81% of online scrapbookers use photo-sites such as Photobucket, Flickr,
Facebook, Webshots, SmugMug, Picasa, etc.
-- The two most surprising Scrapblog topics: 1) Military moms and wives
using Scrapblog to share memories with loved ones overseas and 2)
Scrapbloggers using the service to preserve and share memorable moments
in Second Life and other virtual worlds.
-- The two most unusual and unexpected trends: 1) Scrapblogs being used as
electronic greeting cards and 2) to showcase favorite outfits or make
fashion wish lists.
"I was delighted by the trends in online scrapbooking," said Rebecca Saylor, recently appointed Scrapbook Community Manager at Scrapblog. "As many of our members, I joined Scrapblog because it combines my passion for crafting and sharing online. I see Scrapblog as a complement to my other scrapbooking and crafting activities. It just happens to be a more social way to preserve my memories. This trend report shows that Scrapblog removes the barriers for free, limitless creative expression online. We look forward to watching these trends grow and seeing what else Scrapbloggers have up their sleeves in 2008."
Since Scrapblog's launch in April 2007, the company has attracted significant distribution partnerships including March of Dimes' Every Baby has a Story, ABC's Ugly Betty and ABC Family's 25 Days of Christmas. The company expects to launch several additional partnerships around travel, weddings and parenting memories over the next few months.
Scrapblog, Inc., the first web-based service for creating and sharing multimedia scrapbooks online, has released a report highlighting the largest and most interesting themes and trends in online scrapbooking in 2007. Launched in April 2007 and hosting more than one million online scrapbook pages, Scrapblog has identified several large, interesting trends of the past year. Scrapblog's milestones and industry findings include:
Company milestones:
-- 1.2 million Scrapblog pages created in company's first 9 months
(4/2/2007 through 12/31/2007)
-- 50% of total pages were created in Q4 alone (Oct-Dec)
-- A 400% increase in page views in Q4 (Oct-Dec)
Industry trends:
-- 4 out of 5 online scrapbookers are women
-- 81% of online scrapbookers use photo-sites such as Photobucket, Flickr,
Facebook, Webshots, SmugMug, Picasa, etc.
-- The two most surprising Scrapblog topics: 1) Military moms and wives
using Scrapblog to share memories with loved ones overseas and 2)
Scrapbloggers using the service to preserve and share memorable moments
in Second Life and other virtual worlds.
-- The two most unusual and unexpected trends: 1) Scrapblogs being used as
electronic greeting cards and 2) to showcase favorite outfits or make
fashion wish lists.
"I was delighted by the trends in online scrapbooking," said Rebecca Saylor, recently appointed Scrapbook Community Manager at Scrapblog. "As many of our members, I joined Scrapblog because it combines my passion for crafting and sharing online. I see Scrapblog as a complement to my other scrapbooking and crafting activities. It just happens to be a more social way to preserve my memories. This trend report shows that Scrapblog removes the barriers for free, limitless creative expression online. We look forward to watching these trends grow and seeing what else Scrapbloggers have up their sleeves in 2008."
Since Scrapblog's launch in April 2007, the company has attracted significant distribution partnerships including March of Dimes' Every Baby has a Story, ABC's Ugly Betty and ABC Family's 25 Days of Christmas. The company expects to launch several additional partnerships around travel, weddings and parenting memories over the next few months.
SIRIUS Satellite Radio Announces Broadcast Schedule for Super Bowl XLII
SIRIUS to air 12 individual broadcasts of Super Bowl XLII in eight languages
SIRIUS NFL Radio // ch. 124 to broadcast live from Phoenix
New England Patriots and New York Giants team radio calls to air nationally
SIRIUS Satellite Radio (NASDAQ:SIRI) , the Official Satellite Radio Partner of the NFL, will provide the most comprehensive radio coverage available of Super Bowl XLII, with 12 live broadcasts featuring game calls in eight languages, an increase from the 11 broadcasts and seven languages SIRIUS aired last year, plus live day-long news and expert analysis every day of Super Bowl Week."The NFL is one of the cornerstones of SIRIUS' programming and our Super Bowl broadcasts will provide fans unparalleled access to the year's biggest sporting event," said SIRIUS CEO Mel Karmazin. "SIRIUS NFL Radio will feature comprehensive coverage of Super Bowl Week and fans across the country can follow the game in several different languages."
"With the broadcast going out in eight different languages and round-the- clock coverage leading to the game, more fans than ever will be able to experience the excitement of the Super Bowl on SIRIUS NFL Radio," said NFL Commissioner Roger Goodell. "This year's game marks the fourth consecutive Super Bowl on SIRIUS and each year SIRIUS continues to enhance its coverage, consistent with our goal to give fans new and exciting ways to connect with the NFL."
On Super Bowl Sunday, February 3, SIRIUS will air an expanded lineup of play-by-play broadcasts of Super Bowl XLII live from University of Phoenix Stadium to its nationwide audience. SIRIUS will offer 12 different game calls in eight languages, including the local radio broadcasts of both the AFC Champion New England Patriots and NFC Champion New York Giants. SIRIUS subscribers can choose from:
-- Patriots team broadcast - channel 126
-- Giants team broadcast - channel 123
-- Westwood One Radio broadcast - channel 124
-- BBC Radio broadcast - channel 125
-- Westwood One Spanish broadcast (Spanish-Latin America) - channel 181
-- CANAL+ Spain broadcast (Spanish-Spain) - channel 110
-- France 2 broadcast (French) - channel 143
-- NHK Japan broadcast (Japanese) - channel 140
-- ARD broadcast (German) - channel 130
-- Telenet broadcast (Flemish) - channel 119
-- NTV Plus broadcast (Russian) - channel 122
-- SMG broadcast (Mandarin Chinese) - channel 121
From Monday, January 28 through Super Bowl Sunday, SIRIUS NFL Radio // ch. 124, SIRIUS' 24/7 year-round NFL talk radio channel, will broadcast live every day from Radio Row in downtown Phoenix, providing up-to-the-minute news and analysis from a panel of expert hosts that includes Shannon Sharpe, Randy Cross, Tim Ryan, Pat Kirwan, Jerry Rice, Solomon Wilcots, Gil Brandt, Daryl 'Moose' Johnston, Jim Miller, Bob Papa, Adam Schein and Bryan McGovern. SIRIUS NFL Radio will broadcast live from University of Phoenix Stadium on Media Day, Tuesday, January 29, from 10am to 3pm ET. Media Day shows will feature one-on-one interviews with players and coaches from the New England Patriots and New York Giants.
On Saturday, Feb. 2 starting at 4pm ET, SIRIUS will have live coverage as the Pro Football Hall of Fame's Class of 2008 is announced at the Phoenix Convention Center. SIRIUS listeners will hear the live announcement as well as one-on-one interviews with the newly elected Hall of Famers.
SIRIUS NFL Radio Daily Schedule: (All times ET)
Monday - Tuesday
-- 7 am - 10 am: The Opening Drive with Bob Papa and Randy Cross
-- 10 am - 1 pm: Movin' The Chains with Tim Ryan and Pat Kirwan
-- 1 pm - 3 pm: The Red Zone with Alex Marvez, Gil Brandt and Steve Cohen
-- 3 pm - 7 pm: The Afternoon Blitz with Adam Schein and Jim Miller
-- 7 pm - 8 pm: NFL Network's Total Access
-- 8 pm - 11 pm: Late Hits with Bryan McGovern
Wednesday - Friday
-- 7 am - 10 am: The Opening Drive with Bob Papa and Randy Cross
-- 10 am - 1 pm: Movin' The Chains with Tim Ryan, Pat Kirwan and Daryl
Johnston (Friday)
-- 1 pm - 4 pm: The Red Zone with Bob Papa and Shannon Sharpe
-- 4 pm - 8 pm: The Afternoon Blitz with Adam Schein, Solomon Wilcots,
and Jerry Rice (Thursday)
-- 8 pm - 11 pm: Late Hits with Bryan McGovern and Jim Miller
Saturday
-- 8 am - 11 am: The Weekend Kickoff with Paul Allen and Dean Dalton.
-- 11 am - 2 pm: Press Coverage with Vic Carucci and Dan Leberfeld
-- 2 pm - 4 pm: Chalk Talk. Highlights from Super Bowl Week on SIRIUS NFL
Radio
-- 4 pm - 8 pm: Live Hall of Fame Election Coverage featuring interviews
with newly elected Hall of Famers
Super Bowl Sunday
-- 9 am - noon: The SIRIUS Tailgate Show with Adam Schein, John Madden,
Gil Brandt and Steve Cohen
-- Noon - 3 pm: The End Zone with Bryan McGovern
-- 3 pm: Westwood One Radio Super Bowl XLII coverage
-- Live postgame wrap-up from University of Phoenix Stadium
SIRIUS listeners can also tune in to Sporting News Radio's The Troy Aikman Show, hosted by the three-time Super Bowl Champion and Hall of Fame quarterback, live Thursday of Super Bowl Week (7:00 pm - 8:00 pm ET). The Troy Aikman Show airs every Thursday throughout the season on SIRIUS Sports Central, channel 123.
Additionally, SIRIUS will feature expanded traffic reports for the Phoenix area to SIRIUS First Traffic and Weather for Phoenix on channel 153.
As the Official Satellite Radio Partner of the NFL, SIRIUS broadcasts every NFL game live nationwide, from the preseason through the Super Bowl and Pro Bowl. Fans can also tune into SIRIUS NFL Radio, channel 124, for the only radio channel dedicated to the NFL 24 hours a day, 365 days a year.
Visit www.sirius.com/superbowl for complete information about Super Bowl coverage on SIRIUS.
About SIRIUS
SIRIUS, "The Best Radio on Radio," delivers more than 130 channels of the best programming in all of radio. SIRIUS is the original and only home of 100% commercial free music channels in satellite radio, offering 69 music channels. SIRIUS also delivers 65 channels of sports, news, talk, entertainment, traffic, weather and data. SIRIUS is the Official Satellite Radio Partner of the NFL, NASCAR and NBA, and broadcasts live play-by-play games of the NFL and NBA, as well as live NASCAR races. All SIRIUS programming is available for a monthly subscription fee of only $12.95.
SIRIUS Internet Radio (SIR) is a CD-quality, Internet-only version of the SIRIUS radio service, without the use of a radio, for the monthly subscription fee of $12.95. SIR delivers more than 80 channels of talk, entertainment, sports, and 100% commercial free music.
SIRIUS Backseat TV(TM) is the first ever live in-vehicle rear seat entertainment featuring three channels of children's TV programming, including Nickelodeon, Disney Channel and Cartoon Network, for the subscription fee of $6.99 plus applicable audio subscription fee.
SIRIUS products for the car, truck, home, RV and boat are available in more than 20,000 retail locations, including Best Buy, Circuit City, Crutchfield, Costco, Target, Wal-Mart, Sam's Club, RadioShack and at shop.sirius.com.
SIRIUS radios are offered in vehicles from Audi, Bentley, BMW, Chrysler, Dodge, Ford, Infiniti, Jaguar, Jeep(R), Land Rover, Lexus, Lincoln, Mercury, Maybach, Mazda, Mercedes-Benz, MINI, Mitsubishi, Nissan, Rolls Royce, Scion, Toyota, Volkswagen, and Volvo. Hertz also offers SIRIUS in its rental cars at major locations around the country.
Click on www.sirius.com to listen to SIRIUS live, or to purchase a SIRIUS radio and subscription.
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