Loan Agreements with World Bank for Industrial Pollution Prevention

 New Delhi, Aug.29, 2010:

The Government has signed loan agreements with the World Bank for Industrial Pollution Prevention (IPP) with the total cost of the project as Rs.339.26crores.

For the Industrial Pollution Prevention project, the contribution of the World Bank is Rs.288.68crores. The repayment period of the loan ranges upto 30-35 years commencing from December, 2020.

The IPP Project includes, the development of a framework for the establishment of a National Programme for Rehabilitation of Polluted Sites and to build the technical capacity of select State Pollution Control Boards for undertaking environmentally sound remediation action for the identified highly polluted sites.

The World Bank loan assistance alongwith Government of India and State Government contribution would be utilized for activities relating to remediation of highly polluted sites two in Andhra Pradesh and eight in West Bengal on pilot basis are undertaken.

Want to make a call? go to gmail!

Chennai, August 26, 2010:

Internet giant Google introduced the voice chat facility . Using the gmail account, you can  place phone calls to landlines and cellphones directly from Gmail. In order to use this service, you have to download a video chat browser.  There is a little phone icon near your inbox. you have to press it. A dialler will open . Enjoy! thats all.

Asia's Expanding Middle Class Presents Huge Opportunity for Region, World - Report

Picture: Thanks: mangalorean.com

NEW DELHI, AUGUST, 25:

Developing Asia's rapidly expanding middle class is likely to assume the traditional role of the US and Europe as primary global consumers and help rebalance the global economy, says a new report on Asia’s middle class from the Asian Development Bank (ADB).

The report, published in a special chapter of Key Indicators for Asia and the Pacific 2010, the flagship annual statistical publication of the ADB, found that Asia’s consumers spent an estimated $4.3 trillion (in 2005 purchasing power parity dollars), or about one-third of OECD consumption expenditure, in 2008 and by 2030 will likely spend $32 trillion, comprising about 43% of the worldwide consumption.

The special chapter, titled "The Rise of Asia’s Middle Class”, examines the rapid growth of Asia’s middle class, how the poor advance to the middle class, factors that characterize the middle class, and pathways through which they become effective contributors to growth and poverty reduction in the region.
“Developing Asia’s middle class is rapidly increasing its size and purchasing power, and will be an increasingly important force in global economic rebalancing,” said ADB Chief Economist Jong-Wha Lee. “Even though the Asian middle class has significantly lower income and spending relative to the Western middle class, its growth in expenditures has been remarkable and its absolute levels are commanding.”

Strong economic growth in Asia over the past two decades has been accompanied by significant reductions in poverty as previously poor households have moved into the middle class. Defining the middle class in Asia as those consuming between $2 and $20 per day, the report found that in 2008, Asia’s middle class had risen to 56% of the population—or nearly 1.9 billion people—up from 21% in 1990. The middle class of the People’s Republic of China (PRC) is currently larger than all others in absolute size, having added 800 million people to its ranks between 1990–2008. In the same period, spending in Asia increased almost three fold, compared to marginal increases in all other regions, including developed countries. As a result, consumption expenditures by developing Asia are now second only to developed countries.

The report stresses that a great number of Asia’s new middle class individuals still get by on incomes just above poverty levels, leaving them vulnerable to a relapse into poverty. At the same time, the emergence of so much new spending power carries with it a host of new environmental and health concerns that until recently were more typical of wealthier parts of Asia and the world.
“Clearly, policies are needed that both bolster the new status of the middle class and deal with its adverse consequences; policies that encourage the creation of and access to more well-paid jobs and more advanced education and health care to help prevent slippage back into poverty, and that mitigate additional environmental constraints and health concerns,” said Dr. Lee.

Yet, in balance, expectations are that Asia’s middle class, through its sheer size and dynamism, will present a huge opportunity for the region and for the world. The report projects that by 2030 much of developing Asia will have attained middle class and upper class majorities, with the PRC and India expected to provide the largest number of new middle class. With the appropriate middle-class friendly policies, the report says, Asia will be able to move away from export-led to domestic-led consumption growth and reduce its exposure to negative external shocks, such as the 2008 global financial crisis, which began in the US. In turn, it will also help correct the global imbalances that contributed to the financial crisis.

Secuforce introduces tracking, monitoring systems

Chennai , August 23: 

Secuforce Facility Services(an associate company of Force 1 Guarding Services) Ltd, today launched the various tracking / monitoring systems, suitable for different type of applications using GPRS & RFID Technology. Our principal V3 Teletech Pte ltd, Singapore was awarded the BEST INNOVATOR 2009 – By the GSMASSOCIATION.

While addressing the Press Capt.Shibu Isaac that Force 1 Guarding Services Pvt Ltd along with Secuforce Facility Services now becomes a one stop solution for all Security needs of the market. Tracking of Man & Asset is the need of the hour and will become the main stay of the market, a decade from now.

Mr. Adrian Long, General Manager, V3 Teletech said that they are pleased to have Secuforce Facility Services an associate company of Force 1 Guarding Services Pvt Ltd as thier partner in India. With its accumulated experiences in providing Security Services, V3 Teletech is confident that with their proven solutions, we can bring a concerted effort to enhance the visibility and security of our customers’ assets. 

The various tracking / monitoring systems are:  

V3TRANSMETRICS provides an affordable Fleet Management system to facilitate you to maximize the efficiency of your fleet of vehicles and mobile resources. The system plays the key important policing function to enforce that all the pre-planned routes are  adhered to and at the same time enhance the visibility of your fleet of vehicles and resources, so as to realize the primary objectives in terms cost savings, quality customers' service, maximize usage of the assigned resources and importantly resources security in its operation. 

"V3PAL"- "A solution for everything that you need for personal / asset tracking and security"

It is a small and powerful personal locator, which is designed for personnel & asset remote positioning and emergency reporting. It reports the instant location of the person that you care or your valuable asset. You can also create and activate your defined safety zones. Once the personnel or asset leaves the zone, it will send an alert message to you either by SMS or email promptly. Three quick dial buttons are programmable for defining call out phone numbers, one panic button is used for emergency alert and one PARK button is used to define and activate the current location as safety zone.

Automated Laundry Inventory Tracking System (ALIT)

The Automated Laundry Inventory Tracking System “ALIT” serves to provide companies in the hospitality industry with a powerful tool for managing of laundry inventories (which include bath towels, foot mat, hand towels, banquet napkins, table cloths, worker's uniforms, pillow covers, bed sheets, beach towels and any other small sized linen that is used in hotels and resorts) utilization and keeping tracks of the inventories within the hotel, transit between the hotel and the linens washing company, to achieve total inventory visibility.

Jewellery Tracking System (JETS)

Managing of the jewelry inventories have always been a challenging process whereby at the close of the day operation, numerous manpower are required to carry out all the tedious and manual tasks of checking on each transactions, inventory stocks checking, and rearranging these items back to its original locations. The Jewellery Tracking System (JETS) is the solution to ease these challenging processes and efficiently optimize the operation so as to achieve total inventory visibility and accountability while at the same time maintaining customers' satisfaction. Supported by Automated Identification Data Capturing (AIDC) middleware and various RFID equipments, the “JETS” enables user to effectively capture automatically all the inventories receipt and issuance transaction data happened in the jewellery retail outlets and distribution warehouse. These data are then processed and produced useful reports for management analysis and planning processes instantly anytime and anywhere.

Interest Subsidy Scheme on Educational Loan for Economically Weaked

Chennai, August 22:

The Ministry of Human Resources Development (HRD) has circulated Interest Subsidy Scheme on Educational Loan for Economically Weaker Sections (EWS) to banks on 25th May, 2010.  In terms of the Scheme, full interest subsidy would be provided by Government during the period of moratorium/study period and would be applicable to students from EWS with a parental upper income limit of Rs.4.50 lakhs.

  The Scheme is for studies in recognized technical and professional courses in India.  The Scheme would be applicable from the academic year 2009-10 (with effect from 1st April, 2009).

Rs. 736 crore bank loan target for The Nilgiris in the current fiscal

Chennai, August, 22:

A total of Rs. 642 crore loan was disbursed to different sectors in The Nilgiris District during 2009-10. The target for the current financial year has been raised by 16% to Rs. 736.58 crore, said Thiru P.M. Krishnan, the District Lead Bank (Canara Bank) Manager.  He was addressing the Women Empowerment Day function of the Bharat Nirman Public Information Campaign being organised in Gudalur, today. 

            During the last financial year, the total sanctioned loan amount was Rs. 7 crore more than the target, he added in his presidential address. This is besides personal loan, but inclusive of educational loan. Out of the total amount, Rs. 387 crore was sanctioned for agricultural sector, Rs. 123 crore for small sector, and Rs. 132 crore for other sectors.

            With the aim of achieving 100% financial inclusion for all sections of population, the banks are helping each household to open and operate a bank account, said Thiru Krishnan. The average loan repayment of Women Self-Help Groups was between 90%  98%.  While explaining the steps to get educational loan, he added that in The Nilgiris, out of 7,500 educational loans sanctioned, Rs. 115 crore was yet to be repaid.

            In her special address, Tmt. Hanna Dixon, Asst. Project Officer, TN Women Development Corporation, Ooty, stressed that the Women SHGs should not only aim at improving the welfare of the members, but also of the overall development of their villages. In her address, the District Women Protection Officer, Tmt. P. Maragathavalli, detailed the provisions of the Domestic Violence Act. The Superintendent of Social Welfare Department, Tmt. G.V. Kausalya, explained the various schemes being implemented by the Department. Mahalir Thittam Asst. Project Officer, Thiru Joseph, also addressed the gathering. 

You can withdraw cash 5 times pm from other ATMs, says IBA

Chennai, August 21:

Customers of a Bank Allowed to Withdraw Cash Five Times in a Month Free of Charge from other Banks’ ATMs Indian Banks’ Association (IBA) has reported that banks have been permitted by Reserve Bank of India (RBI) to allow free cash withdrawal at their ATMs by customers from other banks upto five times in a month free of charge.
 Banks are generally complying with the guidelines issued by RBI in this regards from time to time.
No incident regarding non-conforming of RBI’s directions had come to the notice of the Government.

Higher Rate of Interest under Senior Citizens Saving Scheme

New Delhi, August, 21:

The Senior Citizens Savings Scheme, 2004 (SCSS), was designed to meet the need of a regular flow of income for the senior citizens and retired persons with security of investment, liquidity of funds and operation convenience. Keeping in view of the above, higher rate of interest at 9 percent per annum is offered to all senior citizens under this scheme. Persons who are 60 years of age and above can make a deposit under the scheme. Those retired persons who are 55 years of age and above but below 65 years are also eligible to invest their retirement benefits subject to maximum deposit limit of Rs.15 lakh under the scheme.

Facility of loan or overdraft against the deposit would necessitate pledging of the deposit under this scheme. As a consequence, the subscriber of a pledged account will not be able to withdraw the interest amount periodically defeating the very purpose of the scheme.

(This information was provided by the Minister of State for Finance, Shri Namo Narain Meena in reply to an Unstarred Question in Lok Sabha today.)

Akshaya unveils''36 carat', a luxury home project

Chennai, 20 August , 2010 :

 Chennai based property developer Akshaya Homes unveiled 36 Carat, the new gold standard of luxury living. Strategically located in the heart of Poonamallee High Road,( opposite Hotel Dasaprakash) 36 Carat is a lavish spread of 36 elite homes.

Explains Mr. T. Chitty Babu, Chairman, Akshaya Private Ltd., “It  is meant for the crème de la crème of Chennai. It’s a true jewel in our crown. Conceived by an international architect, designed to world standards and opulently styled to be a minimalist marvel, 36 Carat offers a range of impressively spacious apartments ranging from the extra large 3000 sq ft to the massive 5000 sq ft homes.”

“Each of the two 10-storeyed towers has been embellished with a signature ‘Golden i’ design to set it apart from the procession of glass and stone buildings on P.H. Road. Add to this, ingenious landscaping, themed gardens, snazzy fountains, paved driveway, broad sidewalks, inviting reception lounge, video door phones, secure children’s play area, swanky club house on the tenth floor pre-fitted with an in-house fitness center, mini movie hall, Jacuzzi, spa, indoor gaming zone, well appointed business center and well equipped library.”

Being a treasure chest of luxuries, 36-Carat, quite naturally became the only, just-announced project in Chennai to be bestowed the coveted ‘Chennai-5 Star’ rating.

Adds Mr. Chitty Babu, “Akshaya is the first, and only, real estate star in India, to open up every ongoing project on sale for scrutiny and disclosure of the coveted CRISIL ‘Real Estate Star Ratings’.

Bookings for 36-Carat will be  opened from  today (20th).

German Consul General visits Sri City

Chennai, August 20, 2010:

His Excellency, Mr. Axel Saurer, Acting Consul General, Consulate General of the Federal Republic of Germany, today visited Sri City, India’s first integrated Business City with a Special Economic Zone (SEZ), Domestic Tariff Zone (DTZ) and a Free Trade Warehousing Zone (FTWZ). He toured the 6000+ acres expanse and witnessed the on-ground infrastructural developments. He also visited the various manufacturing facilities located in Sri City.

Commenting on this occasion, His Excellency, Mr. Axel Saurer said, “Sri City is an exciting idea, a vision that will certainly benefit not only the companies that are locating here, but also the area and people living in Southern AP. I am confident that in time, German companies will be flying their flags here. “
Mr. Ravindra Sannareddy, Co-founder and Managing Director, Sri City, said: “Sri City has been on an exciting growth phase and has experienced a brisk pace of development since 2008. Our company has attracted over 34 companies so far from 11 countries across the globe.”

“We, at Sri City, pride ourselves in providing world-class infrastructure and ensuring hassle-free operations to all our customers. Our unique concept of country-specific enclaves complete with all amenities has been received well by our customers,” he added.

Sri City is an emerging world-class Business City located 55-kms from Chennai. Spread over 6,000+ acres, it has the distinction of being the largest private sector multi-product Special Economic Zone (SEZ) in South India with a Domestic Tariff Zone (DTZ) and a Free Trade & Warehousing Zone (FTWZ) built in functional partnership with the Government of Andhra Pradesh. Strategically located, Sri City offers the distinct advantage of well-established connectivity by rail, and road with proximity to three seaports and two airports.

Sri City is an integrated development of a world-class business city with lifestyle facilities. Well-demarcated industrial zones within the SEZ and DTZ include automotive, engineering, logistics & warehousing, aerospace, electronics, biotech/pharma and IT/BPO, renewable energy and other eco-friendly industries.

The trading zone (FTWZ) will primarily cater to companies trading in imports and re-exports, packaging, storage and distribution in the local markets. Residential areas, commercial hubs, world-class healthcare, educational institutions, recreation centres and all necessary amenities will support the industrial zones at Sri City making it a truly integrated development for business and lifestyle.

UK's compass group acquires Tirumala Hospitality Services

Chennai, 18 Aug:

UK based Compass group acquired Tirumala Hospitality Services Private Limited (“THS”’) from Mr Ramkrishna Mankari and his family. THS is a strong regional player in the foodservice industry in Western India, specialising in the provision of catering services to the Business and Industry sector. The gross assets of the business acquired were INR 105.2m (£1.4m) as at 31 March 2010 with revenue for the 12 months to 31 March 2010 of INR 271.6m (£3.7m).

SBI, ICICI banks hike lending rates

  Chennai, 17 Aug:

State Bank of India and ICICI banks  hiked their lending rates by 50 basis points. SBI hiked its deposit rates by up to 150 basis points. ICICI Bank's  Benchmark Prime Lending Rate also revised  from 15.75 per cent  to 16.25 percent. It's floating rates also increased by 50 basis points (now it is 12.75%). The revised rates will be effective from tomorrow. On the other hand,  SBI also raised its benchmark lending rate by 12.25% and deposit rates by up to 150  points. As a result of this hike, the products of the abovesaid banks are expected to become little bit costlier.

"we are making every possible effort to tackle inflation!": PM

New Delhi, 15 Aug:

Our Prime Minister Mr.Manmohan Singh assured today's in his independence day address that every possible step was being taken by the centre govt to tackle inflation. some economy related points from his address are given below:


''When I addressed you last year on Independence Day, our country was facing a number of difficulties. There was a drought like situation in many parts of the country. We were also affected by the global economic slow down. I am happy to say that we have acquitted ourselves well in these difficult circumstances. Despite many problems, the rate of our economic growth has been better than most other countries in the world. This shows the strength of our economy.

This strength has been evident not only in the last one year but also in our economic progress in the last many years. Today, India stands among the fastest growing economies of the world. As the world's largest democracy, we have become an example for many other countries to emulate. Our citizens have the right to make their voice heard. Our country is viewed with respect all over the world. Our views command attention in international fora.

We are building a new India in which every citizen would have a stake, an India which would be prosperous and in which all citizens would be able to live a life of honour and dignity in an environment of peace and goodwill. An India in which all problems could be solved through democratic means. An India in which the basic rights of every citizen would be protected. In the last few years, we have taken many significant steps in this direction. Every person living in rural areas now has the assurance of 100 days of employment through the Mahatma Gandhi National Rural Employment Guarantee Act.

Our Government has laid special emphasis on the welfare of our farmers and on increasing agricultural production. After we came to power in 2004, we realized that the state of Indian agriculture in the preceding 7-8 years was not satisfactory. Our Government increased public investment in agriculture. We started new schemes for increasing production. We encouraged agricultural planning at the district level. I am happy that the growth rate of our agriculture has increased substantially in the last few years. But we are still far from achieving our goal. We need to work harder so that we can increase the agricultural growth rate to 4 per cent per annum.

We have always taken care to provide remunerative prices to farmers so that they are encouraged to increase production. Support prices have been increased every year in the last six years. The support price for wheat was enhanced to Rs.1,100 per quintal last year from Rs.630 per quintal in 2003-04. In paddy, this increase was from Rs.550 per quintal to Rs.1,000 per quintal. But one effect of providing higher prices to farmers is that food prices in the open market also increase.

I know that in the last few months high inflation has caused you difficulties. It is the poor who are the worst affected by rising prices, especially when the prices of commodities of every day use like foodgrains, pulses, vegetables increase. It is for this reason that we have endeavored to minimize the burden of increased prices on the poor. Today, I do not want to go into the detailed reasons for high inflation. But, I would certainly like to say that we are making every possible effort to tackle this problem. I am also confident that we will succeed in these efforts.
It is obvious that any person or institution cannot spend more than his income over a long period of time, even if it is the Government. It is our responsibility that we manage our economy with prudence so that our development is not affected adversely in the future because of high debt. We import about 80 per cent of our requirement of petroleum products. After 2004, we have increased the prices of petroleum products much less compared to the increase in the price of crude oil in the international market. The subsidy on petroleum products has been increasing every year. It had become necessary therefore to increase the prices of petroleum products. If this had not been done, it would not have been possible for our budget to bear the burden of subsidy and our programmes for education, health and employment of the poor would have been adversely affected.
There is a large deficit in our physical infrastructure which affects our economic development adversely. There is a shortfall in the supply of electricity to industries. Our roads, ports and airports are not of world standards. We have been trying to increase electricity production and improve our roads, ports and airports. The resources required to create good physical infrastructure are difficult for the Government alone to mobilize. Therefore, we have endeavoured to involve the private sector in our efforts. The steps that we have taken after 2004 to improve our physical infrastructure have started bearing fruit now. About one and half a months back, I dedicated a new terminal of the Delhi airport to the nation. This is an excellent terminal which has been completed in record time. We will continue to make such efforts to improve our physical infrastructure.''

Ramesh Nair

M.D.,

Warehousing and Logistics Solutions

Jones Lang LaSalle Meghraj

Real Estate: More Signs of Recovery

The Asia Pacific economy continues to enjoy broad-based growth in both domestic and external sectors.  The current regional GDP forecast of 6.5% for this year is significantly higher than the global forecast of 3.8%. The region is facing some headwinds, however, with mixed signals regarding the health of the global economy and increasing focus on the economic slowdown now underway in China.

Property market fundamentals continue to improve across Asia Pacific. Take up of space continues to grow and more markets have moved to the upturn phase of the rental cycle. Capital values started to recover earlier than rentals and are now increasing in most markets.

In addition to our regular market coverage, this edition of the Digest includes a number of feature commentaries including an inaugural article by Jones Lang LaSalle’s Asia Pacific CEO, Alastair Hughes.

To read more about the latest economic and property market trends in our region, please click on the link and download the 2Q10 Asia Pacific Property Digest. 

We hope you find the Asia Pacific Property Digest of use in helping you make quality real estate decisions. Should you have any comments on how we can better serve you, please let me know.

 TVS  launched Vocational traing college in chennai

Chennai. 15 Aug.
Chennai based  TVS Educational Society launched the TVS Vocational College in chennai last week. The college will train those who haven't completed their  formal education with the needy skills. The venue of the college will be situated in the T.S. Srinivasan Polytechnic and Advanced Training Centre in Vanagaram, near Porur.

The college will offer technical and non-technical courses. The successful students will get certificates  by the Indira Gandhi Open National University. The duration of the courses is  from six months to one year to qualify the students to take their jobs in Retail,  Mutual funds, BPO and Insurance. To join in these courses, one should completed  class VIII to class X. There is no age limit for admission..''Many comanies are interested to join hand with us'' told Malini Srinivasan, Director, TVSES,
(From Left Mr.V A Raghu, Advisor - TVS Educational Society, Dr. K Pannerselvam - Regional Director, IGNOU, Chennai,  Dr.Malini Srinivasan - Director, TVS Educational Society, Ms.Maya Narasimhan- Principal and TVS Vocational College at the TVS College launch press conference in Chennai.)