Archive for the ‘Business And Finance’ Category

Ultrasonic cleaners- a boon for industries

Tuesday, December 2nd, 2008

Industries often face this huge task of cleaning the equipments. Industrial equipments are quite complicated and difficult to clean because they include small parts and intricate assembling. In such a scenario ultrasonic cleaners come in very handy.

An ultrasonic cleaner is an advanced device to enhance cleaning process of industrial machinery through sound waves. The item is cleaned through these ultrasonic sound waves that make the water and added chemicals to heat up and approach the right place at a very fast speed. But this ultrasonic cleaner cleans them gently without causing any problem to the equipment.

Ultrasonic cleaners are very useful in cleaning jewelry items. These jewelry items are delicate, expensive and intricate. Manual cleaning is neither good nor safe. Herein comes to rescue ultrasonic cleaner. These ultrasonic cleaner cleans such jewelry item gently and quickly. Once you turn on the ultrasonic cleaner machine, it creates sound waves, due to this water and little chemical in the tank leads to bubble making. These bubbles then enter the jewelery items and wash away all dirt and dusts, making it look entirely new and shining. You can trust any item with ultrasonic cleaner. Ultrasonic cleaner is quite a useful product

Indian firms in Nepal meet Pranab Mukherjee over labour issues

Wednesday, November 26th, 2008

Officials of prominent Indian joint ventures in Nepal that have been facing labour and security problems in the Himalayan republic, have met Indian External Affairs Minister Pranab Mukherjee, who is on a three-day visit here to boost India-Nepal ties.

Dabur Nepal, an independent company of the Dabur Group, United Telecom Nepal (UTL), whose Indian promoters are Mahanagar Telephone Nigam Ltd, Telecommunications Consultants India and Tata Communications Ltd, and Nepal Lever, the Nepal arm of Hindustan Unilever Ltd, were among the top Indian entities that met Mukherjee Monday, the day of his arrival.

Many Indian joint ventures have been facing labour trouble and security problems, with Dabur Nepal, UTL and Nepal Lever facing demands from outsourced or contract workers for direct and permanent employment.

Labour trouble had also been reported in the past at the tobacco factory of Surya Nepal, ITC’s joint venture in the republic, as well as Air India.

The Indian companies have been especially perturbed after the previous government of prime minister Girija Prasad Koirala ordered UTL to provide direct employment to the staff it had hired through a third-party contractor.

The controversial decision, that could eventually affect other multinationals as well, was taken up by Indian Prime Minister Manmohan Singh with Nepal premier Pushpa Kamal Dahal Prachanda when the latter went to India in September on his first official visit after assuming office.

Mukherjee too raised the issue of Indian investment in Nepal when he met Prachanda Tuesday morning, and urged the Maoist chief to create an environment that would encourage and protect Indian investment.

Mukherjee’s visit comes close on the heels of oral care giant Colgate-Palmolive winding up its operations in Nepal after 12 years.

The sale of Colgate-Palmolive (Nepal) to a Nepali company has now run into trouble with workers detaining the buyer inside the factory for 48 hours, while two officials of the sold Nepal arm were stopped by the youth wing of a political party at a domestic airport in south Nepal.

The growing rivalry between the trade unions affiliated to the Maoists, Koirala’s Nepali Congress and the Communist Party of Nepal-Unified Marxist Leninist, the third largest party in Nepal, has added to growing tension in the industrial sector.

India is also closely watching the progress of work on Nepal’s biggest hydropower project, the 750 MW West Seti in western Nepal, in which the Mumbai-based Infrastructure Leasing and Financial Services is a partner. The Indian government-owned Power Trading Corp will purchase the power.

After prolonged opposition to the project by NGOs and political parties, three West Seti offices in western Nepal came under attack recently.

With private Indian company, the GMR Group, and the public sector hydropower company Satluj Jal Vidyut Nigam having been awarded two new hydropower projects in Nepal, Indian Minister for Commerce and Industry and Power Jairam Ramesh cautioned during a recent visit to Nepal that investors in India and abroad were watching the West Seti project keenly as a test case to decide if they too should invest in the country or quit.

Air India withdraws transaction fee on air tickets

Tuesday, November 25th, 2008

State-run carrier Air India on Tuesday said it will withdraw a transaction fee on its air tickets effective Nov. 26.

The transaction fee ranges from 300 rupees for a domestic economy ticket to 10,000 rupees for a first class ticket to Europe and the U.S., executive director Jitender Bhargava told Reuters on Tuesday.

Colgate Palmolive’s Nepal chief handed over to police

Friday, November 21st, 2008

There was massive upheaval at the factory of Colgate Palmolive India Ltd’s subsidiary in Nepal Thursday with the company announcing the sale of Colgate Palmolive (Nepal) Pvt Ltd after 20 years of operations to Nepali company Everest Hygiene Products Pvt Ltd Nepal.

Angry workers seized the subsidiary’s general manager Ramesh Singh Rathore, as he was preparing to leave for Kathmandu from Simra town in south Nepal, and handed him over to police, alleging that the subsidiary authorities had not informed them of the sale, leading television station Kantipur said.

Neither the police nor Colgate Palmolive (Nepal) officials were immediately available for comment.

Established in June 1988, the subsidiary passed through a sticky phase during the 10-year Maoist insurgency due to frequent disruptions and blockades.

In 2005, after the subsidiary announced it was discontinuing the production of toothpaste at its Hetauda factory, it was on the cards that the MNC would finally move out of Nepal.

On Thursday, Colgate Palmolive India Ltd said it was divesting its shareholding Colgate Palmolive (Nepal) Pvt. Ltd to Everest Hygiene Products Pvt. Ltd Nepal, with whom it signed a contract to continue to source toothpowder from the Hetauda factory.

The sale announcement also said that all employees of the Nepal subsidiary would continue their employment on the existing terms and conditions.

However, the announcement failed to allay the fears of the work force.

The incident comes at a time Nepal’s Foreign Minister Upendra Yadav has admitted that foreign investors were shying away from fresh investment in Nepal due to the lack of security.

CORRECTED - Ford abandons Mazda control with 20 pct stake sale

Tuesday, November 18th, 2008

Ford Motor Co, scrambling for cash as the U.S. Big Three automakers struggle to stay alive, will end 12 years of control of Mazda Motor Corp through the sale of a 20 percent stake in the Japanese carmaker.

Mazda, in which Ford first took a stake in 1979, said on Tuesday it would buy back 6.87 percent of its own shares from Ford for up to 17.9 billion yen ($185 million), keeping them as treasury stock.

Ford will raise more than 52 billion yen ($538 million) from the sale and remain Mazda’s top shareholder with a stake of just over 13 percent.

More than 20 undisclosed business partners will purchase the remaining 13 percent, Mazda said.

Reeling from slowing sales, Detroit’s General Motors Corp, Ford and Chrysler LLC are desperately trying to raise cash to survive in the worst economic crisis since the Great Depression. Executives from all three are expected to amplify their calls for a financial lifeline from the U.S. government at Congressional hearings beginning on Tuesday.

As part of the ownership change, Mazda said two board members — Chief Financial Officer David Friedman and sales and marketing chief Daniel Morris — would return to Ford. Executive Vice President Philip Spender will remain.

Mazda Chief Executive Hisakazu Imaki — the first Japanese CEO after a string of four Ford executives at the helm since 1996 — will cede his post to another executive vice president, Takashi Yamanouchi, to become chairman of the board.

All personnel changes will take effect on Wednesday.

Slowing auto sales and the global financial crisis have sent shares of Ford plunging and led to a worse-than-expected $2.98 billion operating loss in the latest quarter.

The two firms, which share vehicle platforms and engineering resources and jointly own assembly plants in the United States, Thailand and China, will keep their strategic ties, Imaki told a news conference at Mazda headquarters in Hiroshima, monitored in Tokyo.

“The sale of Mazda shares by our partner, Ford, will not result in any change in Mazda’s strategic direction,” Imaki said. “We will continue our strategic relationship through our ongoing joint ventures with Ford, as well as the sharing of platforms and powertrains.”

Since raising its stake in Mazda to a controlling 33.4 percent in 1996, Ford has rescued the carmaker from the brink, helping it to restore its brand image through strong, stylish products such as the Mazda6/Atenza and Mazda3/Axela.

In return, Ford has benefited by tapping Mazda’s strength in the development of smaller cars.

“This agreement allows Ford to raise capital that will help fund our product-led transformation, and at the same time, allows Ford and Mazda to continue our successful strategic relationship in the best interest of both companies,” Ford CEO Alan Mulally said in a statement released by Mazda.

Analysts have said they expected little short-term change to the relationship between Ford and Mazda given their closely intertwined operations and platform-sharing.

Some said having a more stable set of shareholders could be positive for Mazda, although the arrangement would leave its balance sheet, already on the weak side, slightly weaker.

“It’s not the ideal solution from anyone,” said an analyst at a Western brokerage, declining to be named.

“From a strategic perspective there’s not much change, but it was a desperate move by Ford, selling at this low price, and Mazda had no choice but to buy back part of it because they couldn’t find enough buyers.”

Mazda, which had cash or cash equivalents worth 215 billion yen at the end of September, said it would use its own funds to buy back the shares on Wednesday at Tuesday’s closing price of 184 yen.

Earlier this year, Ford sold the premium Jaguar and Land Rover brands to India’s Tata Motors Ltd and is said to be looking for a buyer for its Volvo Cars arm.

Ford has promised to keep the remaining 13 percent stake for the time being, Imaki said.

Mazda’s shares jumped on an earlier Nikkei business daily report that the announcement could come on Tuesday. The stock ended the day 6.4 percent higher at 184 yen.

Imaki declined to disclose the other buyers, but media reports have named trading houses Sumitomo Corp and Itochu Corp, auto parts maker Denso Corp and non-life insurance companies including Tokio Marine Holdings Inc among the possible buyers.

A day earlier, GM said it would sell the remaining 3 percent it held in Suzuki Motor Corp for $232 million.

Finding a Car Accident Attorney Online

Tuesday, November 18th, 2008

If you are a looking for a Dallas car accident attorney, then you have a lot of options. This isn’t necessarily a good thing. You will need to do a lot of research to find the one that is just right for you. This is a bit easier thanks to the information that you can find online though. Just a quick search will give you a good comparison of the potential choices and what they’ll offer.

You have a lot of things to consider. The first is that they need to have real experience for cases involving auto accidents. Your case might have to go to court, and you definitely want to have a lawyer who isn’t afraid to fight for what you need. Most lawyers will have reviews and examples available so you can find out just what you’re getting.

You should also be looking at price records. A number of lawyers will work for no money upfront. They’ll get their money from the settlement at the end. This is a good deal for a number of people who just don’t have the money to pay for a fight now. Giving your Dallas auto injury lawyer some personal motivation never hurts either.

These are just a few things to keep in mind when you’re looking for a lawyer.

Co-location providers assisting your business:

Tuesday, November 18th, 2008

Large scale business sectors have a high capital for investment in hosting their own servers for websites. On the other hand, small business units will be struggling hard to make a presence online without investment for server hosting and bandwidth requirements. Co location hosting is introduced as a solution for this problem.

This is the simplest and easiest way by which companies can host their own websites. Colocation stands between owning a server and hosting a website. Hence the cost is also maintained between these two strategies. In other words, this is the cheapest way by which companies can make online presence.

The providers working in this sector helps you to reduce the head ache of owning a server. The connection between your website and your business is inseparable. Any damage to the servers hosted will directly affect the backbone of your firm, thereby impacting your business. The disconnection in the online strategy will interfere with the performance of your online business.

In the co location environment, your providers will be taking care of every such issue on your behalf. Even when you take little risks, you can enjoy the presence created by your business. In fact, you will be making more money with little investment.

Who is afraid of competition? Not MTNL

Monday, November 17th, 2008

If you thought that the days of waiting lists for telephone connections are over, think again. About 30,000 people are waiting for new broadband connections that offer Internet and telephone in a bundle from state-run Mahanagar Telephone Nigam Ltd (MTNL) in Delhi and Mumbai.

This is despite three private national telecom players - Bharti Airtel, Reliance Communications and Tata Teleservices offering broadband services in the two metros besides MTNL. MTNL officials say the queue is for value-for-money services, and the waiting list will be eliminated because the company is busy building capacity to overcome constraints. We have an edge over our competitors both in terms of quality of services and pricing, said R.S.P. Sinha, chairman and managing director of MTNL. That is why people prefer waiting for our services rather than going to our competitors.

MTNL has a broadband subscriber base of over 6.2 lakh lines in the two metros, of which 3.46 lakh lines are in Mumbai and the remainder in Delhi. With addition of new capacity, we will wipe out waiting list, Sinha said.

MTNL will have a capacity of about 10 lakh lines by the November and plans to set up another 10 lakh lines for which a tender is planned to be floated by the end of the fiscal year. The company also has a waiting list of 7,000 for IPTV services.

IPTV is provides digital TV over telephone lines, with two-way interactive facilities. Currently, there are 10,000 subscribers for IPTV services.

Equities open strong but slip into red

Saturday, November 15th, 2008

With US markets closing with gains overnight and Asian markets showing gains Friday morning, Indian equities markets opened strong Friday but began to slide with a key index down more than 150 points two hours into trading, revealing underlying nervousness, analysts said.

Two hours into trading the 30-share benchmark sensitive index (Sensex) of the Bombay Stock Exchange (BSE) was ruling at 9,371.50, down 164.83 points or 1.73 percent from its previous close Wednesday at 9,536.33 points.

The Sensex opened strong at 9,799.25, up 262.92 points or 2.76 percent from its previous close Wednesday, hit a high of 9,836.11 but then began to slide to hit a low of 9,352.41 before inching up a bit to its current value.

The broader-based 50 share S&P CNX Nifty of the National Stock Exchange (NSE) also showed a similar trend and was ruling at 2818.65, down 29.8 points or 1.05 percent from its previous close Wednesday at 2848.45 points.

The BSE midcap index was ruling at 3,240.46, down 40.81 points or 1.24 percent from its previous close Wednesday at 3,281.27 points.

The BSE smallcap index was ruling at 3,787.50, down 25.88 points or 0.68 percent from its previous close Wednesday at 3,813.38 points.

Google Offers Search By Voice, and iPhone Gets It First

Saturday, November 15th, 2008

Google is pushing its voice-recognition technology to Apple’s iPhone first, before devices running its own Android mobile platform.

The New York Times offered photographs of Google employees Vic Gundotra and Gummi Hafsteinsoon using an iPhone for a voice search. The free application was expected to be available on Apple’s App Store on Friday. Google reportedly will soon offer the technology for other devices, presumably including the T-Mobile G1, which uses Android.

“This is an expansion of types of applications Google has already been developing,” said Greg Sterling, principal analyst at Sterling Market Intelligence. “Google has GOOG411, which is the underlying technical engine. They also have a voice-search client for the BlackBerry which is limited to maps. So this is an evolutionary step.”

Inside Google Voice Search

Here’s how it works: The iPhone user asks a question, such as “Where’s the closest Burger King?” or “How wide is the Grand Canyon?” The user’s voice is converted to a digital file and transmitted to Google’s servers.

Google Search then serves up the results — in a matter of seconds if the user has a fast wireless network, the Times reports. The search results always include any local information.

“The question with these types of technologies is how good is the speech recognition? It’s getting much better, and that’s why Google feels this is the right time to introduce this,” Sterling said. “Google has confidence now that voice recognition is good enough to open it up to the full Web search as opposed to the much more structured search on GOOG411.”

Google is playing catch-up, in a sense. Yahoo and Microsoft already offer a voice-recognition option for mobile phones. Microsoft’s Tellme service offers users information in specific categories, such as movies, maps or directions. Yahoo offers voice services through its oneSearch platform.

“In one sense this is new, but it’s not new, because Yahoo and Microsoft have been doing versions of voice recognition — and so has Google — for some time,” Sterling said. “A company called Dial Directions was the first to formally introduce voice search for the iPhone, but it was limited to selected local sites through the Safari browser.”

Building a Killer App

Could voice recognition be the next killer app for mobile? The market is growing at breakneck speed. Voice-recognition technology sales topped $1 billion in 2006 for the first time. Datamonitor expects that number to swell to $2.6 billion by 2009.

The market is heating up — and going global. Voice-recognition software maker Nuance Communications earlier this month acquired Austria-based Philips Speech Recognition Systems for $96.1 million. Philips develops speech-recognition solutions in 25 languages.

Voice recognition on the mobile phone is still not completely accurate, and may not see mainstream use until it improves. But Sterling said it is ever-improving and thinks Google’s voice search will be a popular mobile-phone feature.

Specifically, he sees the new Google application for the iPhone as most useful when a user might need to call directory assistance or do a simple search, but can’t do it safely on a keyboard while driving. Another benefit is the ability to enter potentially long search queries that would be difficult to type. But accuracy is still a factor.

“This is an evolutionary step in the whole realm of voice search,” Sterling said. “So far it has not proven to be the killer app for mobile, but it’s getting there and it’s very useful in selective situations.”