India / All Themes
Infosys Q1 net rises 21%, raises FY09 forecast
11.07.2008 12:19
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Infosys Technologies Limited beat expectations with a 21 per cent rise in quarterly profit thanks to a weaker rupee, and raised its full year guidance on hopes for a revival in outsourcing demand. The number two information technology services company forecast revenue for the year to March 2009 would grow 27.5-29.5 per cent, in rupee terms, up from April''s forecast of 19.2-21.1 per cent. Infosys, which develops applications, designs supply chains and offers back-office services, said on Friday that net profit rose to 13.02 billion rupees in the first quarter ended June from 10.79 billion rupees reported a year earlier. “Although the economic environment continues to be uncertain and could impact IT spending in the short term, we see opportunities for growth. Growth primarily by the need to look at the global delivery model and to look at how can they bring in more efficiency how can they work with companies like Infosys,” said S. Gopalakrishnan, Chief Executive Officer (CEO) and Managing Director of Infosys. Pricing had remained stable in the June quarter, Infosys said, but margins were impacted by wage increases and visa costs. The currency market was expected to remain volatile in the short term, it said. Nasdaq-listed Infosys is the first to report quarterly earnings among Indian IT companies, which had annual revenues of around 52 billion dollars in 2007-08. A large pool of English-speaking graduates and comparatively cheaper wages had helped Indian firms ride an outsourcing boom for years, but the growth slowed last year when Wall Street banks made huge write-downs related to the sub prime crisis and as the U.S. economy lurched towards recession. Although Indian outsourcing firms are expanding to Europe, Asia and the Middle East to lower their dependence on the United States, the country still accounts for half of their sales. Shares in Infosys, which is valued by the market at 23 billion dollars, had risen 21 per cent in the June quarter, outperforming a gain of 13 per cent in the sector index and a 14 per cent drop in the main Mumbai index. (ANI)
India
Economics & Finance
ONGC joins national action plan on climate change
11.07.2008 12:19
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In a bid to sustain the fragile Himalayan ecosystem, Oil and Natural Gas Corporation Ltd. (ONGC) has inked an agreement with Uttaranchal Bamboo and Fiber Development Board (UBFDB) to support tree plantation in Upper Himalayas region, especially those species which can mitigate Climate Change. During the signing ceremony on Wednesday, a cheque of Rs. 54.41 lakhs was handed over to UBFDB. Under this agreement, ONGC and Uttranchal Bamboo and Fiber development Board (UBFDB) of Uttarakhand will work together to plant trees in Upper Himalayas region. These plants are very vital constituents of ecosystem, facilitating carbon sequestration, and hence mitigate adverse impacts on climate due to release of huge quantities of carbon dioxide and other global warming agents. The ‘National Action Plan on Climate Change’ of India, prepared under the guidance and direction of Prime Minister’s Council on Climate Change, has eight priority areas; one of them is ‘Sustaining the Himalayan Ecosystem’. ONGC has joined hands with Uttaranchal Bamboo & Fiber Development Board (UBFDB) to support tree plantation in Upper Himalayas to mitigate Climate Change. From left: ONGC CMD R.S.Sharma, ONGC Director A.K.Hazarika, UBFDB CEO S.T.S Lepcha, Additional Secretary, MOEF R.H.Khwaja. The process was initiated on the World Environment Day i.e. 5th June 2008 by handing over a letter of intent to UBFDB by in the presence of ONGC’s CMD Mr. R S Sharma, ONGC’s Director Mr. A.K.Hazarika and Mr. R.H.Khwaja, Additional Secretary, MoEF, Government of India. With this initiative, ONGC has once again taken a lead role in contributing towards the Indian Government’s National Action Plan on Climate Change. ONGC is already in the process of conservation and restoration of mangroves through Bombay Natural History Society (BNHS), Mumbai at Gulf of Cambay area at a cost of Rs. 20 million. This program also involves education and awareness about ecological significance of mangroves among various stakeholders in the coastal area of Maharashtra and Gujarat. (ANI)
India
Economics & Finance
Hizbul Mujahideen commander arrested in Handwara
11.07.2008 12:19
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In a joint operation Jammu and Kashmir Police and the Rashtriya Rifles has arrested a Hizbul Mujahideen militant from Handwara District’s Lach forests. The Handwara police had received a tip-off regarding the presence of militants in the area. Accordingly, Handwara police launched a joint operation with the troops of 30-Rashtriya Rifles. They cordoned the area but the militant opened fire on joint search party of the police, triggering a fierce firefight. The militant finally tried to break open the cordon and flee away from the spot taking the advantage of nearby dense bushes. It was at this point that operation party after following a meticulous security drill apprehended the militant with the recovery of one AK-47 rifle, five AK magazines, 150 rounds of AK-ammunition, four Chinese grenades, a pouch and an identity card. During preliminary questioning the subject revealed his identity as a Pakistan trained militant namely Ali Mohammad Khan alias Showkat, Deputy District Commander, B- category militant of Hizbul Mujahideen outfit, resident of Rajpora, Zachaldara Handwara. The subject remained active in Rajwar, Qaziabad and Mawar areas of police District Handwara. He was a close associate of the then self-styled District Commanders of Hizbul Mujahideen outfit namely Mushtaq Ahmad Malla alias Furkan, Mudasir Shabir alias Ali, Sonullah Sheikh alias Kafeel, and Shaheen Ahmad Malik alias Sajad alias Usman, who have been recently arrested by Handwara police. (ANI)
India
Social Life
Ten more handloom clusters sanctioned for Jammu and Kashmir
11.07.2008 12:19
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Textiles Minister Shankersinh Vaghela today said that the Government is working to promote the activities of Handicrafts and Handloom Exports Corporation of India Ltd. (HHEC) and has sanctioned ten more clusters of handlooms for Jammu and Kashmir. Addressing the Parliamentary Consultative Committee meeting, Vaghela said that the HHEC is running a number of activities to provide support to artisans and weavers for the upgradation of their skills, design inputs, training and marketing their products. More than ten thousand weavers are getting direct and indirect employment through the activities of HHEC. The Corporation has 21 procurement centers all over the country to help and provide technical support to the grass root weavers. Reiterating the Government’s commitment for marketing support to the artisans, the Minister said that the Central Cottage Industries Corporation (CCIC) does procurement and sales of quality handicrafts and handloom products not only for the domestic market but also for abroad. It has also opened showrooms to showcase traditional art culture. He said the CCIC always lays emphasis in supporting artisan and has made efforts to eliminate middlemen in the process of marketing of handlooms. Briefing the members about the National Handicrafts and Handlooms Museum (NHHM), also known as Crafts Museum at Delhi, he said that the Museum has a collection of over 32,000 artifacts consisting of metal icon, lamps, incense burners and ritual accessories. The Library of the Museum has more than 20,000 reference books and other periodicals. (ANI)
India
Social Life
Mumbai observes second anniversary of 7/11 train blasts
11.07.2008 12:19
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Mumbai today paid homage to victims of serial train blasts on the second anniversary of the blasts. At least 186 people were killed and hundreds injured when seven bombs ripped through packed commuter trains and stations during rush hour on July 11, 2006, throwing life in the financial hub out of gear. Relatives of the victims and residents of Mumbai gathered at a local railway station, and lit candles in homage to the victims. A.K. Jhingron, General Manager, Western Railway, Mumbai said, "It is a sad day. We hope that all the pain and losses that people have borne, they forget it soon.” “We will not remind them of the monstrosity again and again, said Jhingron and added, “We have come here just to pay homage to those who lost their lives and not to deliver any statements." Even after two years, Mumbai Anti Terrorist squad is still struggling to solve the heinous crime. Seven persons have been identified in connection with the blasts, of which four, belonging to the banned, Students Islamic Movement of India (SIMI), were taken into custody. The 7/11 blasts has been described as one of the country''s worst terror strikes. (ANI)
India
Social Life
Short stay homes for women to be upgraded
11.07.2008 12:19
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Stressing the need on better accommodation facilities for working women, Women and Child Development Minister Renuka Chowdhury said here today that the Centre would provide fund to the State Government for the construction of the building and infrastructure for working women’s hostels. She said efforts will be made to set up at least one home in each district with mandatory women helpline, medical care, psychiatric treatment, occupational therapy and education-cum-vocational training facilities. Addressing the Parliamentary Consultative Committee, Women and Child Development Minister Renuka Chowdhury said that her Ministry had requested the State Governments to allot land for setting up more working women’s hostels. Underlining the importance of counseling services for women under stress and difficult circumstances, she said her Ministry was making efforts to evolve curriculum for counsellors keeping the needs of women and children. Well-known women and child experts and academicians will be involved in the project, she added. The counselling center will be set up through NGOs and priority will be given to the pockets where migrated women or women displaced or affected due to natural calamities and disaster are residing. She also informed that the Central Social Welfare Board of her Ministry runs a programme of condense education, to cater the needs of adult girls and women who could not join mainstream education system or were school dropouts. Contents of the course were being made more need-based according to local requirements. Aim of the programme is to instill confidence among women. The scheme is being implemented through voluntary organizations and educational institutions. Besides this, the government has also increased allocation under the Rajiv Gandhi Creche Scheme for the Children of working mothers. In the current budget, Rs. 100 crore has been allocated for this purpose, she said. Members of Parliament stressed on higher allocation for women’s rehabilitation schemes and programmes and effective monitoring system to ensure proper utilization of the funds. They also suggested to run awareness generation programme so that more and more women could avail benefits of the government’s schemes. (ANI)
India
Social Life
US envoy welcomes India''s decision to move forward on nuke deal
11.07.2008 12:19
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The United States welcomes the Government of India''s decision to move forward with the U.S.-India Civil Nuclear Initiative by seeking International Atomic Energy Agency approval for its safeguards agreement. This historic initiative is a significant component of the Strategic Partnership envisioned by President George W. Bush and Prime Minister Manmohan Singh, said U.S. Ambassador to India David C Mulford. Mulford said that the U.S.-India Civil Nuclear Initiative will help India meet its growing energy demands in an economically efficient and environmentally friendly manner and strengthen the global nonproliferation regime. However, he said that much work still needs to be done to see this initiative through to the final stages. "We will work closely with India, with Governors of the International Atomic Energy Agency, with our Nuclear Suppliers Group partners, and the United States Congress to ensure that this initiative is implemented as quickly as possible," he added. (ANI)
India
Social Life
Rubber thread industry uplifts prospects for rubber planters
11.07.2008 05:22
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Rubber planters in Tripura have welcomed the establishment of the rubber thread industry in the outskirts of Agartala. The unit is a sister concern of the eminent tobacco and beverage group Dharampal Satyapal Ltd. (DS Group). The industry will consume the entire latex produced by the farmers of the state, for making value added commodities. It has brightened the prospects for the rubber planters, who were practicing shifting cultivation earlier. This method, locally known as ''jhum'' cultivation, used to cause serious soil erosion and other ecological problems, adding to the problems of farmers. In the absence of a big rubber based industry, only 10 per cent of rubber produced in Tripura was consumed locally. The remaining quantity was sold outside the state and some exported to Bangladesh at a very low price. "Earlier, farmers used to convert latex into sheets. Then those sheets used to be sold in Agartala and in Kolkata. But ever since, we started buying latex from the farmers, they got two advantages from it. Firstly, the hard work done by them has reduced as compared to sheet making. Besides, cost of making sheets used to exceed their earnings. The price we pay for latex is more than they get from sale of sheets," said T. George Joseph, Executive Director of the unit. Besides, the 20 million rupees unit, set-up using the latest Italian technology, has ushered in new avenues of employment for the local populace of the northeastern state. The management said that the company decided to set-up the unit in the state, the second largest natural rubber producer in India after Kerala, due to the availability of rubber latex and work force. The state''s Rubber Board has recently identified Tripura as the "second rubber capital of India". "In India, the textile industry is growing. So it''s a win-win game for Tripura as they will get a ready market also," said Prasant NM, head of sales. India imports an estimated 25000 MT of rubber thread annually. With the garment industry booming in Bangladesh that market will also provide new opportunities. (ANI)
India
Economics & Finance
Inflation surges to 11.89 per cent
11.07.2008 05:22
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This week’s inflation surged to 11.89 per cent in response to increases in food and commodity prices. The inflationary trend shows an upward graph, which is expected to touch 11.9 per cent next week. The Government has already declared that the inflation could inch up to 13 per cent before making a slow descent by September. Last week’s inflation was recorded as 11.63 per cent. Experts believe that double-digit inflation is likely to stay until September with the price of crucial commodities like steel is expected to rise further. It is estimated that steel and steel products (used in industries like auto, housing, white goods and capital goods) contribute almost 21 per cent to inflation. The inflation rate has been above 5.5 per cent for the 20th consecutive week. Finance Minister P. Chidambaram had on Tuesday said the government was relying on monetary policy to cool demand and calm prices. Last month, the Reserve Bank of India raised its main lending rate by 75 basis points and increased banks'' reserve ratio by 50 basis points to contain inflation. The RBI’s next scheduled review is on July 29. (ANI)
India
Economics & Finance
Chocolate for breakfast actually helps you lose weight!
11.07.2008 05:22
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Here’s some good news from all those chocolate lovers trying to lose weight – instead of shunning your favourite sweet, dig into it for breakfast. Wondering just how this is going to help you shed those extra pounds? Well as it turns out, eating chocolate is part of the new ‘Big Breakfast’ weight-loss plan that involves 700-calories worth of carbohydrates into your body when you wake up. Along with 30g of chocolate, you will also have to dig into a glass of milk, two slices of cheese, 85g of lean meat and two slices of buttered whole-grain toast every morning. Doctor Daniela Jakubowicz, who has used the diet on her patients for 15 years, told the Daily Express that the breakfast works because it helps curb hunger cravings later in the day. She said: "Very low carbohydrate diets are not a good method to reduce weight. They exacerbate the craving for carbohydrates." (ANI)
India
Health & Beauty
Researchers find control switches for cancer, viral infection immune cells
11.07.2008 05:22
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Researchers at Washington University School of Medicine in St. Louis have found the control switches for immune cells that fight cancer, viral infection. During the study, they showed that a single protein, HS1, enables key functions of natural killer (NK) cells, which kill early cancers and fight off viral infections. The protein allows the NK cells to pursue their targets, latch on to them and configure the cellular machinery it uses to kill them. "Further study of how HS1 controls these processes may open up new possibilities for revving up the NK cells to fight infection and cancer," Nature quoted senior author John Cooper, M.D., Ph.D., professor of cell biology and physiology, as saying. "We also may be able to use this same protein to inhibit the activities of other immune cells and prevent them from contributing to autoimmune conditions such as diabetes," he added. Cooper has studied how different types of cells use a primary component of their skeletal system known as an actin network. Previously, his laboratory had investigated the role of a protein called cortactin in specialized cells that break down bones. They showed that cortactin''s effects on the actin network made it possible for the cells to form a tightly sealed bond with bones. Boyd Butler, Ph.D., a postdoctoral fellow in Cooper''s laboratory and first author of the study said: "This bond is analogous to a plunger. The cell sits down on the bone, seals tightly, and then starts secreting the acid and other compounds that break down the bone." NK cells have to form a similar plunger-like bond, known as a lytic synapse, with the targets they attack. They do not make cortactin but produce HS1, which is a very similar protein. Butler decided to see what would happen to NK cells in human blood samples if he turned down their ability to make HS1. The resulting cells were severely disabled. They couldn''t effectively pursue target cells, bind to them or prepare to kill them. "Tight regulation is very important to prevent NK cells from harming the body''s own tissues. This ability to switch where the control signal goes makes HS1 a powerful regulator of NK cell activity-it allows the cells to provide just the right services at the right time," Boyd said. The study is published in Nature Immunology. (ANI)
India
Health & Beauty
Scientists uncover genes that control embryonic stem cell fate
11.07.2008 05:21
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Scientists at the University of California, San Francisco say that they have identified about two-dozen genes that control embryonic stem cell fate. The researchers say that the genes may either prod or restrain stem cells from drifting into a kind of limbo, which lies between the embryonic stage and fully differentiated cells like bone, muscle or fat. They believe that knowing the genes and proteins that control a cell''s progress toward the differentiated form may help accelerate the process, and turn out to be a potential boon for the use of stem cells in therapy or the study of some degenerative diseases. Describing their study in the journal Cell, the researchers have revealed that their finding comes from the first large-scale search for genes crucial to embryonic stem cells. "The genes we identified are necessary for embryonic stem cells to maintain a memory of who they are. Without them the cell doesn''t know whether it should remain a stem cell or differentiate into a specialized cell," says Dr. Barbara Panning, associate professor of biochemistry and biophysics at UCSF, and senior author on the paper. During the study, the researchers used a powerful technique called RNA interference (RNAi) to screen more than 1,000 genes for their role in mouse embryonic stem cells. With aid of the technique, the research team was able to "knock down" individual genes, reducing their abundance in order to determine the gene''s normal role. The researchers said that they focused their study on proteins that help package DNA. According to them, DNA normally wraps around protein complexes called nucleosomes in the nucleus, forming a structure known as chromatin that makes up chromosomes. Their efforts uncovered 22 proteins, each of which is essential for embryonic stem cells to maintain their consistent shape, growth properties, and pattern of gene expression. The researchers say that most of the genes identified by them code for multi-protein complexes that physically rearrange (remodel) nucleosomes, changing the likelihood that the underlying genes will be expressed to make proteins. They say that the main player is a 17-protein complex called Tip60-p400, which is necessary for the cellular memory that maintains embryonic stem cell identity. Panning says that, without this complex, the embryonic stem cells turned into a different cell type, which had some features of a stem cell but many features of a differentiated cell. The researchers are of the opinion that Tip60-p400 is necessary for embryonic stem cells to correctly read the signals that determine cell type. They say that their findings are not only important for understanding cellular memory in embryonic stem cells, but will also likely be relevant to other cell types. According to them, inactivation of other genes disrupted embryonic stem cell proliferation. The team says that these genes were already known to have only slight influence on viability of mature cells in the body. Based on their observations, the researchers came to the conclusion that embryonic stem cells are "uniquely sensitive to certain perturbations of chromatin structure." Panning feels that, if other types of stem cells are also found to be sensitive to these chromatin perturbations, this could lead to novel cancer therapies in the future. (ANI)
India
Health & Beauty
Alcohol impacts cardiovascular risks in men and women differently
11.07.2008 05:21
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A Japanese study has revealed that the quantity of alcohol consumption may affect heart and stroke risk in men and women differently. “An amount of alcohol that may be beneficial for men is not good for women at all,” said Dr. Hiroyasu Iso, a professor of public health at Osaka University who jointly wrote the study report, published in Stroke: Journal of the American Heart Association. During the study, data from a survey of 34,776 men and 48,906 women was analysed. The participants were selected from the larger Japan Collaborative Cohort Study (JACC) to determine the association of alcohol use with the risks of stroke and heart disease. Those who had not experienced cancer, stroke or heart disease before the study completed questionnaires about their lifestyles and medical histories, providing information about their drinking of rice wine, brandy, beer, whiskey and/or wine. The researchers say that they calculated the risks and benefits of alcohol consumption after adjusting for age and several other risk factors—such as smoking, weight, body mass index, the presence of high blood pressure or diabetes, exercise habits, stress, education, and diet. During a 14.2-year follow-up, 1,628 participants died from stroke and 736 died from heart disease. It was observed that men who reported drinking heavily—at least 46 grams of alcohol per day—at the time of the survey had a 19 percent lower risk of dying from coronary heart disease than those who did not drink at all. On the other hand, women who drank that much quadrupled their risk of heart disease death over that of non-drinking women. Light drinking—less than 23 grams of alcohol per day—reported on the survey was associated with a lower risk of heart disease death in women by 17 percent, while intake between 23 and 46 grams per day was associated with an increased risk of 45 percent. “In women, we found a slightly reduced risk with light consumption but a much greater risk with heavy alcohol use,” Iso said. The study revealed that, in men, heavy alcohol use was associated with an increased risk of death from all types of stroke by 48 percent. The risk of hemorrhagic stroke was increased 67 percent, while the risk of ischemic stroke was higher by 35 percent. In women, heavy alcohol use was associated with a higher risk of stroke death by 92 percent. Hemorrhagic stroke death risk was increased by 61 percent, while the risk of ischemic stroke death was increased 2.43 times. “We expected to find an increased risk of hemorrhagic stroke. But since alcohol reduces the ability of the blood to clot, we didn’t expect to find the increases in ischemic stroke and coronary heart disease,” Iso said. The researcher said that only 15 percent of women in JACC drank any alcohol, far less than the 45.9 percent of U.S. women who reported using alcohol in 2005. “One limitation of the study is that, in Japanese culture, there are social restrictions against women drinking as they get older. In that culture, the women who do drink may have different types of jobs or other aspects of their lifestyle that may help explain the excess risk as well as the alcohol exposure itself,” Iso said. The researchers said more research could help determine how alcohol affects cardiovascular risk. (ANI)
India
Health & Beauty
Why thrombosis increases disease risk for men more than women
11.07.2008 05:21
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Researchers at the University of California, San Francisco, have shed light on why men are more at risk of diseases heart attack and stroke caused by the inappropriate formation of a blood clot (a process known as thrombosis) than women. To study the matter, Ethan Weiss and colleagues at the university used a mouse model of thrombosis. Thrombosis-related proteins are made in the liver, where expression of the genes containing the information needed for their generation is regulated by growth hormone (GH), which is secreted in a sex-specific manner — males secrete GH in a pulsatile fashion, whereas females secrete GH continuously. In this study, GH-deficient mice were protected from thrombosis in the model of disease. When female GH-deficient mice were given pulsatile GH (to mimic the manner in which GH is secreted in males) their ability to form blood clots resembled male mice. Conversely, when male GH-deficient mice were given continuous GH (to mimic the manner in which GH is secreted in females) their ability to form blood clots resembled female mice. The researchers therefore conclude that sex-specific patterns of GH release mediate the gender-associated differences observed in susceptibility to diseases caused by inappropriate thrombosis, information that they hope will be of help in the development of sex-specific treatments for thrombosis. (ANI)
India
Health & Beauty
Moderate exercise can be beneficial during pregnancy
11.07.2008 02:26
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A moderate half an hour exercise during pregnancy can be beneficial for both mother and the child, suggest experts. Experts believe that endurance exercises, such as jogging during pregnancy can improve the mother''s condition, strengthen the cardiovascular system and enhance blood circulation. "If their gynaecologist gives the green light, pregnant women should go ahead and participate in sports," China Daily quoted Christian Albring, president of the Munich-based Association of Gynaecologists (BVF), as saying. "Jogging, hiking, Nordic walking, cycling, dancing, and swimming in water with a temperature over 20 C are all well-suited to people who don''t care for sports," she added. Even swimming can be beneficial during pregnancy. "Water is felt to be particularly pleasant because it buoys the body and takes weight off the joints," said Marion Sulprizio, a sports psychologist at the German Sport University Cologne''s Department of Health Research. Moreover, strenuous activities are possible in water without raising the heart rate. "So in water you can really let loose," she added. You might be advised to abandon treadmills but they can actually be helpful. "On the treadmill, cross trainer and ergometer, the training intensity is regulated individually and the amount of strain is monitored," Sulprizio said. This allows pregnant women to continually adjust the intensity of their exercise regimen according to their condition. Strength training can also prove beneficial, not for the abdomen, but for arms and legs. The weights and resistances should be greatly reduced, however. "Deep-sea diving is the only thing that''s really taboo," said Edith Wolber of the Karlsruhe-based German Midwives Association. She points out that women who dive during pregnancy have a significantly higher rate of children with deformities. "Expectant mothers are not competing. That means, among other things, that they can allow themselves to engage in sports less than they did previously, or reduce their performance level," said Wolber. It is suitable for expectant mothers who were active before their pregnancy to exercise at least half an hour three times a week. (ANI
India
Health & Beauty
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