Today's Hot Stories - May 02, 2013
10 Headlines for Today(1) Sarabjit's body to be flown back, Pak orders judicial probe
(2) Sikhs protest outside Sonia Gandhi's house against Sajjan Kumar's acquittal
(3) Americans hold nationwide rallies for immigration reform
(4) Uninor appoints Yogesh Malik as CEO
(5) FDI in retail is a boon: Supreme Court
(6) ADB may lower lending to India
(7) IPL: Warner rocks again, DD stay alive
(8) Bayern humiliate Barca to reach final
(9) Ferrer beats Roger-Vasselin in Portugal
(10) Google doodle celebrates Satyajit Ray's 92nd birthday
5 Stories for Today
(1) Don't bare legs in India, Asian Development Bank warns delegates
(2) We will stand by Syria: Hizbollah
(3) Infosys tries new recipe for revival
(4) Drugs Patent: Access to medicine and innovation not mutually exclusive, says US
(5) Subsidy on fertilizers slashed
(1) Don't bare legs in India, Asian Development Bank warns delegates
When in India, don't show bare legs or wear short dresses. This could hurt Indian sensibilities and may lead to sexual harassment.
That's the advice being offered by Manila-based multilateral agency Asian Development Bank (ADB), which is hosting its 46th annual meeting in Greater Noida, to more than 4,000 delegates.
The annual meeting is being held in the India-Expo mart in Greater Noida and several of the delegates from nearly 67 countries are staying in hotels in Noida, Greater Noida and Delhi. The meeting will discuss issues related to the global economy, Asian challenges and development.
The advisory posted on the general information section on the ADB website says Indians are very conservative about dress and advises women to dress modestly, with legs covered.
"Trousers are acceptable, but shorts and short skirts are offensive to many. If you want to keep cool in the Indian sun, cotton clothing is essential along with a comfortable pair of open sandals," says the advisory.
Clicking on the 'read more' section takes one to a website TravelIndia.com, which elaborates on what is acceptable and what should be avoided while travelling in India. Among other subjects, it covers taking pictures, visiting religious places, eating, concept of time, tipping, siesta and common faux pas.
It also has a special section for gay travellers. "While travelling in India you might see a lot of men holding hands. This should not be taken as a sign of their sexual orientation, in all probability they are not gay," the advisory says.
"Most gays in India are of the closet kind as Indian society does not accept homosexuality. Declaring yourself to be a homosexual is a sure way of being disowned by family and friends."
It goes on to say that in big cities and amongst the higher strata of the society, homosexuality is not considered abnormal behaviour any more but cautions about showing affection in public.
"You would be better off avoiding public displays of affection such as cuddling and kissing each other in public (not just for gays). Homosexual relations between men are illegal in India and the penalty according to the Indian Penal Code is seven years rigorous imprisonment. However, had this law been enforced strictly, the Indian prisons would have been overflowing by now," the website says.
In the section titled: "Common Faux Pas", it says that kissing and embracing are regarded in India as part of sex and asks travellers to not engage in these activities. "It is not even a good idea for couples to hold hands," it says.
The advisory on eating says that when eating or drinking, your lips should not touch other people's food - "jutha or sullied food is strictly taboo."
"Don't, for example, take a bite out of a chapati and pass it on. When drinking out of a cup or bottle to be shared with others, don't let it touch your lips, but rather pour it directly into your mouth. This custom also protects you from things like hepatitis. It is customary to wash your hands before and after eating," the advisory says.
Source: The Times of India
(2) We will stand by Syria: Hizbollah
The conflict in Syria has inched closer to a regional conflagration with the bold declaration by Hizbollah that it would prevent the armed opposition and its allies from toppling the government of President Bashar al-Assad.
In his fiery address on Tuesday, where he delivered a thinly veiled message for possible intervention, Hizbollah chief Sheikh Hassan Nasrallah seemed to allude to Iran and Russia as Syria’s real friends who would not hesitate to support Mr. Assad.
“Syria has real friends in the region and the world that will not let Syria fall in the hands of America, Israel or Takfiri groups [referring to groups who believe they are the only true Muslims], they will not let this happen,” he said, adding, “I say this based on information rather than wishful thinking.”
War clouds thickened over the region after The Washington Post reported on Wednesday that President Barack Obama is preparing to send lethal weaponry to the Syrian opposition.
Talks with Russia
Sheikh Nasrallah’s assertions followed his two rounds of talks with Mikhail Bogdanov, Russia’s West Asia envoy, who had spent quality time last week in Beirut. Arriving in there from Tehran, Mr. Bogdanov held talks with with Mohammad Raad, the Hizbollah representative in the Lebanese Parliament.
The website al-Monitor reported that the talks focused on establishing, behind the international scenes, “a formula to link the political solution to the crisis in Bahrain with the crisis in Syria”.
United stance
Besides, Moscow intended to reinforce a united stance for resolving the Syrian crisis on the basis of Geneva agreement, which supported an internally-driven process of political transition in Syria, without demanding Mr. Assad’s exit.
Sheikh Nasrallah underscored that the Syrian regime cannot be toppled militarily and “until the moment no Iranian forces have entered Syria”.
The Hizbollah leader stressed that the resolution of the crisis was necessary as its continuation had serious repercussions for the region. He observed that the “Palestinian cause is facing the danger of serious elimination”, because of the bloodletting in Syria. “The Syrian situation also has an effect on Lebanon, Iraq, and the whole region.”
Sheikh Nasrallah pointed out that the assault on Syria served multiple objectives, including the capture of the country’s oil and gas fields — some of which have been discovered off-shore recently.
“The objective behind what is happening in Syria is not only to remove Syria from the axis of resistance. One can confidently say that the objective of all those behind the unrest in Syria is to destroy the Syrian state, people, society, and army in order to turn Syria into a failed state that cannot make decisions concerning its oil, gas, and assets.”
He declared that Hizbollah would defend people targeted by the Syrian opposition in the area of Qusayr along the border with Syria, as the Lebanese state had failed to protect all its citizens. The Hizbollah leader said only a political dialogue could defuse the Syrian crisis. “I tell the Arab and Muslim peoples and all Syrians that whoever wants to rescue Syria ... that they must seek political dialogue and a political settlement.”
Source: The Hindu
(3) Infosys tries new recipe for revival
NR Narayana Murthy, who founded Infosys with half-a-dozen friends and a capital of only Rs. 10,000 in 1981, ever the man to convince people with a mix of charm and wisdom, used to say that reinventing a company was like changing the wheels of an aircraft mid-flight. The company has been going through just that in recent years, with the rise of its Infosys 3.0 story. While the financial crisis and the recession it spawned across the West made eager customers turn thrifty, emerging technologies have accentuated the challenge. As an industry insider puts it, what cost $20 million to make in the mainframe era is now wanted by customers at 2.5% of the same cost as a mobile application.
With the miniaturisation of technology, even mid-sized companies such as MindTree Consulting can swim with giants like Infosys in the emerging alphabet soup called SMAC (social, mobility, analytics and cloud) that involves everything from deciphering Facebook updates for brands and developing tablet apps to sundry data crunching.
“The industry is getting more and more commoditised and clients are trying to extract the most of its vendors,” admits Infosys board member V. Balakrishan, a long-time Infosys executive. “You do go through tough times.”
Narayana Murthy rattled the stock market 12 years ago, when, after the Internet “dotcom” meltdown, he said there was “fog on the windshield.”
Sounding cautious to the market is not new for the company that has prided itself on under-promising and over-delivering.
But is this time different?
Those not happy with SD Shibulal’s less-than-flamboyant style seem to think so. Four months before he formally took over as CEO in 2011, he re-organised the business into four industry verticals--financial services and insurance (FSI); manufacturing; energy, utilities, communications and services (ECS); and retail, consumer products, logistics and life sciences.
There are those who think this shifted a sales-oriented culture into something more staid that hurt revenue growth. Infosys now lags TCS by $3 billion in revenues. Board member Ashok Vemuri, a former banking expert, now looks after manufacturing as a vertical head, while BG Srinivas runs insurance after specialising in supply chains. For Infosys, this could be the job-rotation route to readying potential CEOs.
There are sceptics who question the changes, and analysts who think this can slow down work.
“I would think the management restructuring has had an impact. But I don’t think this management is incapable,” said Dipen Shah, IT analyst at Kotak Securities.
Shah notes that both TCS and HCL Technologies have shown decisively stronger volume growth and “clearly superior execution” that needs to be taken note of.
Infosys watchers say TCS also has exposure to crisis-hit financial service clients but has done well. It could be that with a presence in 44 countries against the 30 that Infosys has, TCS has a wider sales footprint. Also, TCS, HCL and Cognizant are led by marketing honchos -- something that may give an edge of aggression in difficult times. But you could also say the diligent, caring Shibulal builds deep relations in difficult times.
HCL has clearly stolen a march with its infrastructure management practice that helps companies manage data centres better -something that is not adversely affected by recession.
“Different companies have different revenue profiles. Our dependence on discretionary spend is definitely higher than other companies,” Shibulal admits.
This, however, is not good enough for those who say the new story is yet to grow wings.
The PPS (products, platforms and solutions) business that relies on intellectual property to boost profit margins is hardly 6% of the revenue, notes Angel Broking’s analyst Ankita Somani.
“It will take some time for us to see substantial change. What has been talked about is so qualitative. We have to see the fruits of what they have done,” she said. “Performance issue is definitely there.”
Balakrishnan admits “scalability is a challenge” - and he adds that this includes entry-level staff training, which is now stretched to six months from the earlier three because the new crop of workers need more hand-holding.
Betting more on reusuable intellectual property to boost margins, Infosys has set up a $100 million fund for products and platforms. These steps are not overnight successes but the company is moving fast.
Earlier this week, Infosys announced a partnership with IPsoft, which industry researcher Forrester’s analyst Fred Giron said takes “automation efforts to a whole new level.”
Infosys staffers bound by company rules are reluctant to talk, but the buzz is clearly about not seeing clear career growth paths. And that makes them comfortable.
“They (management) are struggling to articulate to shareholders and employees what this 3.0 is all about,” said a former Infosys employee. “They are confident but somehow they cannot communicate this.”
Optimism also lurks in the form of a $4.3 billion cash chest - that’s about R24, 000 crore. Analysts say even a small acquisition can trigger the stock. The company however, says it will acquire competencies, not size or revenues, through its buyouts.
Balakrishnan says the current recovery in the US economy, which accounts for 63% of Infosys revenues, augurs well.
“There is a lot of pent-up demand that is waiting to come,” he said.
And asked to say why critics still abound, he said: “Infosys is like the elephant and the blind men (tale). Everybody says something but only people in Infosys know what’s on.”
Right now, the blind men outside feel they are playing poker with what was once the unquestionable darling of India’s software prowess.
Source: Hindustan Times
(4) Drugs Patent: Access to medicine and innovation not mutually exclusive, says US
Expressing concern over the recent order by Indian Supreme Court on the patent of a cancer drug, the US has said the access to medicine and innovation are not mutually exclusive.
"On the Indian Supreme Court decision regarding pharmaceutical patents, I think it's fair to say that the governments of India and the US share the goal of providing safe, affordable medicines. The US believes that access and innovation are not mutually exclusive," a senior official from the US Trade Representative (USTR) said.
Speaking on condition of anonymity, the USTR official was briefing reporters after the release of a Congressional-mandated report on violations of intellectual property rights by countries across the globe.
"We can increase access to medicines and at the same time support innovation through development of new and improved drugs. We're very interested in working within it to achieve right policy mix to maximise both innovation and access. And supporting innovation is, in our view, an important part of that policy mix," the official said.
Putting India along with China and Russia and seven other countries in its "Priority Watch List" on the issue of violation of the intellectual priority watch, the USTR report urged India to reconsider how it can meet legitimate domestic policy objectives by fostering, rather than undermining that innovation climate.
The USTR, in its report, designated Ukraine a priority foreign country (PFC) under the 'Special 301' statute due to severe deterioration of enforcement in the areas of
government, use of pirated software and piracy over Internet, as well as denial of fair and equitable market access through authorisation and operation of copyright collecting societies.
USTR, in its report expressed, concerns about misappropriation of trade secrets in China, and incremental progress on a few of China's many other significant IPR and market access challenges. It also added Barbados, Bulgaria, Paraguay, and Trinidad and Tobago to the 'Watch List' due to specific problems identified in the report.
On India, the USTR said that the recent actions by the Indian Government have raised serious questions about the innovation climate in the country and risk hindering the country's progress towards an innovation-focused economy.
Noting that in pharmaceutical sector, some innovators are facing serious challenges in securing and enforcing patents in India, the report urged New Delhi to adopt policies that support both cutting-edge innovation to address important health challenges and promote a robust generic market.
"The US is concerned that the recent decision by India's Supreme Court with respect to prohibition on patents for certain chemical forms absent a showing of 'enhanced efficacy' may have the effect of limiting the patentability of potentially beneficial innovations," the report said. Such innovations will include drugs with fewer side effects, decreased toxicity, or improved delivery systems, it added.
"Moreover, the decision appears to confirm that India's law creates a special, additional criterion for select technologies, like pharmaceuticals, which could preclude issuance of a patent even if the applicant demonstrates that the invention is new, involves an inventive step, and is capable of industrial application," USTR said. Stating that the US will also continue to monitor closely developments concerning compulsory licensing of patents in India, the report said New Delhi's decision to restrict patent rights based, in part, on the innovator's decision to import its products rather than manufacture them in India establishes a troubling precedent.
"Unless overturned, the decision could potentially compel innovators outside India, including those in sectors well beyond pharmaceuticals, such as green technology and
information and communications technology, to manufacture in India in order to avoid being forced to license an invention to third parties," it said.
- See more at: http://www.indianexpress.com/news/drugs-patent-access-to-medicine-and-innovation-not-mutually-exclusive-says-us/1110489/2#sthash.XeTt2O6Z.dpuf
Source: The Indian Express
(5) Subsidy on fertilizers slashed
The move may save the government around Rs.5,000 crore
The Union Cabinet, on Wednesday, gave its go-ahead for slashing the subsidy on phosphatic and potassic (P&K) fertilisers for this fiscal.
The move is expected to save the government around Rs. 5,000 crore.
The decision to cut subsidy has been taken in view of falling global prices.
Despite the reduction in subsidy, the government is hopeful that the maximum retail price (MRP) of di-ammonium phosphate (DAP) and Muriate of Potash (MoP) would come down by Rs. 1,500 and Rs. 1,000 per tonne, respectively.
“The Cabinet has taken a very important decision on P&K fertilisers. The total subsidy outgo for P&K fertilisers for 2013-14 will be lower by 15 per cent because of decline in global prices. Actually, outgo of subsidy cost will depend on consumption,” Finance Minister P. Chidambaram told reporters after a Cabinet meeting.
The Fertiliser Ministry estimates the subsidy on P&K fertilisers to come down by Rs. 4,500-5,000 crore to around Rs. 27,500 crore in this fiscal. The government has been implementing the NBS policy on P&K fertilisers since April 2010, under which it announces a fixed subsidy for 22 grades of P&K fertilisers and their MRP is freed.
Mr. Chidambaram said the subsidy on nitrogen had been reduced to Rs. 20.875 per kg from Rs. 24 per kg last year. Similarly, the subsidy for phosphate had been cut to Rs. 18.679 per kg from Rs. 21.804 per kg last year, while the subsidy on potash had been slashed to Rs. 18.333 per kg from Rs. 24 per kg. However, the subsidy for sulphur has been kept unchanged at Rs. 1.677 per kg for this fiscal. “This subsidy will be the lower than the rates approved for 2012-13. As a result, subsidy on DAP will be Rs. 12,350 per tonne, and on MoP it would be Rs. 11,300 per tonne,” he added.
The Fertiliser Ministry would put in place a mechanism to ensure that a lowered MRP is fixed by manufacturers , he added.
“If there is any violation or contravention, there will be a monitoring mechanism which will take corrective steps to ensure that the benefit is passed on to farmers,’’ he said. The country requires around 29-30 million tonnes of DAP, MoP and complex fertilisers. The bulk of this requirement is imported.
According to the NBS policy, the government announces NBS rates for various nutrients, namely nitrogen, phosphate , potash and sulphur , for P&K fertilizers covered under the policy every year.
Source: The Economic Times
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