Monthly Archives: February 2010

Union Budget 2010-11, by Mr. W. S. Mukund, MD, Acer India

“It’s been a fairly balanced, yet progressive Budget. Focus on Education, Health and Infrastructure, with enhanced allocations, do pave the way for building a vibrant & competitive India.

For the PC industry there are some positives in terms of scope for adoption of IT in initiatives such as the Financial Inclusion Fund project to extend Banking to more habitats and scaling up of the Smart card projects in Health Insurance. That a Tech Advisory Group is being set up under the leadership of Nandan Nilekeni is another pointer to rapid adoption of IT projects in the areas of Taxation, Pension, Treasury, Infrastructure and GST.

For the PC industry, which had shown a de-growth in the year 2009-10, the roll back of Excise/CVD to 10% is a big dampener.

Also some of the inconsistencies, that have been highlighted for redressal the last many months, such as MRP based abatement, phased reduction of CST to 1% (made all the more acute due to GST being postponed to the next fiscal) as also lack of any bold policy initiatives to make Broadband more pervasive and affordable, continue to persist. “

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Airtel digital TV premieres ‘Harry Potter and the Half Blood Prince’ on Indian television

Airtel digital TV- the DTH service from Bharti Airtel – today announced the premiere of the latest film from the Harry Potter series ‘Harry Potter and the Half Blood Prince’ on its Pay Per View (PPV) service. This highly acclaimed film will be aired for the first time on Indian television. The movie will be available from February 27, on Channel No. 210 on the PPV service of Airtel digital TV at Rs. 70 only. Customers can order the film either for a full day or for any of the shows in a day by visiting the website www.airtel.in/digitaltv or SMSing the Movie Code to 54325 or SMSing START to 54325 from their registered mobile number.

Announcing the TV premiere, Sugato Banerji, Chief Marketing Officer – DTH, Bharti Airtel said, “It has been our endeavour to bring the biggest hits through Airtel digital TV on Indian television. We have received great response from our viewers in the past and hope to replicate the success with ‘Harry Potter and the Half Blood Prince’.”

Dark, thrilling, and occasionally quite funny, Harry Potter and the Half-Blood Prince is also visually stunning and emotionally satisfying. In this sixth film in the series, Harry’s (Daniel Radcliffe) inevitable confrontation with the dark wizard Voldemort grows closer, and Hogwarts headmaster Dumbledore (Michael Gambon) wants the young student to be prepared. He guides Harry through a memory of a young Voldemort, but an important moment is missing. Harry must extract this memory from the new Hogwarts teacher, Horace Slughorn (a perfectly slimy Jim Broadbent), who is as eager for fame as he is reluctant to revisit this painful moment.

Airtel digital TV – the DTH service from Bharti Airtel – is the sole national level DTH service in the country which offers its customers MPEG 4 with DVBS 2 – currently the most advanced digital broadcasting technologies available in the world after HD broadcasting. Additionally, Airtel digital TV was the first to bring many firsts to the DTH segment in India including a Universal Remote which operates both the Set Top Box and TV set as well as Interactive Applications which give customers the freedom to book movie tickets, travel package and shop for branded products, among others. Users can also access city-specific news and update themselves on the latest stock news. All this is backed by 24×7 customer care.

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Reliance Communications launches On-Net Weekend Masti Pack

Reliance Mobile launched an exciting “Weekend Masti” promotional pack for its CDMA and GSM subscribers across the country. With these packs, Reliance Mobile customers can make Unlimited Free Local calls to any other Reliance Mobile (GSM or CDMA) at any time of the day on a weekend (Saturday & Sunday).

A recharge of Rs. 33/- will give Reliance Mobile subscribers Unlimited Free Local On-net calling benefits during the weekend. The pack can be subscribed to on any day of the week and Unlimited free local on-net calling benefits can be availed during the weekend.

The Weekend Masti pack will be valid for 1 weekend only and has been made available to subscribers on e-recharge.

Weekend Masti Pack
MRP. Rs. 33.00

Pack Benefit
Unlimited calls to any Local Reliance Mobile – CDMA or GSM

Pack Availability
00:01 hrs of Saturday to 23:59 hrs of Sunday

Charges for all other call types will be applicable as the prevailing tariff of the customer.

Reliance Communications’ Weekend Masti promotional pack offers unique value propositions fine-tuned as per the needs of our prepaid GSM & CDMA customers. Our offers are designed in line with Reliance Communications’ philosophy of making world-class telephony services accessible and affordable to the masses.

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Manisha Koirala to launch Nepal ex-princess’ new novel

Kathmandu, March 1 (IANS) Bollywood actor Manisha Koirala, who became unpopular in her own country Nepal five years ago by supporting the army-backed coup of King Gyanendra Bir Bikram Shah, is set to lend a helping hand to another member of the former royal family. Continue reading

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Zapak gets a double whammy!

At the 4th Employer Branding Awards 2009 held in Indore on 10th December 2009, Zapak Digital Entertainment Limited, India’s largest gaming company emerged as the ‘BEST EMPLOYER BRAND AWARD – GAMING’ in the western region.

This award is an appreciation for good work & contribution to HR.

Zapak.com was also recognized as the ‘Most Popular Gaming Portal Amongst Youth’ in India at the Global Youth Marketing Forum 2010. The Forum was held at Taj Lands End, Mumbai in February 2010 where the largest rendezvous of youth experts, marketing professionals, head hunters & brand specialist were representing fashion, music, technology, sports and lifestyle brands.

Commenting on Zapak’s achievements, Mr. Rohit Sharma, CEO, Zapak Digital Entertainment Limited said, “We are elated to have won two prestigious awards. It is a matter of pride for the Zapak team and is recognition of Zapak’s innovative initiatives in making Zapak one of the best workplace in the country today. Zapak is the most popular gaming portal in India with more than 7 million registered users and the award at the Global Youth Marketing Forum 2010 showed that Zapak will always do its best to entertainment the youth of the nation. ”

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Jude Law finally meets his lovechild

London, Mar 1 (ANI): English actor Jude Law is said to have finally met his lovechild, taking his lawyer along for the meeting. Continue reading

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Paul McCartney to play Scotland for first time in 20 years

London, Mar 1 (ANI): After almost two decades, veteran singer Sir Paul McCartney is ready to play Scotland. Continue reading

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Post Budget reaction – Rajan Sharma (Sales & Marketing MB BU, GIGABYTE India)

“Given that the industry is still in a recovery mode the tax incentive should have been extended. The rolling back of excise duties may affect sales. There has been no proposal to abolish Special Additional Duty (SAD) across products which is discouraging. We are glad that the roadmap for GST has been finally unveiled, which is very critical for creating a single-India market. We hope for better involvement and engagement of the Government with the industry as the finer details of the GST is worked out.”

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ADCB, Schroder & Co in banking deal

Abu Dhabi Commercial Bank and Schroder & Co Bank AG are setting up a private banking partnership in Switzerland to offer services to wealthy clients from the United Arab Emirates. Continue reading

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Be safe while playing Holi

GVK Emergency Management and Research Institute (GVK EMRI) wishes every one a happy and a safe holi and we wish that no one meets with an emergency. But emergencies are uncertain and can happen to anyone at any point of time. So if there is any emergency, call 108 to get a proper help on time and save a life.

108 Emergency Response Services (ERS) is an initiative of MP Government in partnership with GVK EMRI. The service was launched on July 16, 2009. Presently it covers Bhopal, Indore, Gwalior and Jabalpur District completely with 55 ambulances. Till date it has attended to over 50,000 emergencies and has saved over 2,500 lives.

Holi is festival of joy and colors. Bright colors, water balloons, lavish sweets and melodious songs are the ingredients of Holi. While playing Holi, some time emergencies occur. The emergencies that are expected to happen more are Road Accidents due to drinking & driving and rash driving, eve teasing, bodily offences & fights and unconsciousness. So be careful while enjoying and if there is any emergency, call 108 for immediate and proper help. Other emergencies on which 108 can be also called for help are pregnancy related, heart attack, suicides, respiratory related, theft, burns, fire breakouts, animal bytes etc.

Also remember, taking a victim to hospital in an ambulance is a smart decision. Shifting a victim in an auto or private vehicle may cause more injuries to the victim, which might lead to disability or death of a person. In an ambulance availability of the pre-hospital care and a proper care by EMT reduces the changes of death or disability. So be smart, call 108 and wait till the ambulance reaches.

108 ERS provides free emergency response service in medical, police and fire emergencies. 108 is a toll-free number and can be dialed from mobile and landline without adding any code. On dialing the number 108, appropriate help in the form of ambulance, police, fire brigade or in combination is sent. 108 ambulance is fully equipped, with all the necessary medicines and equipments required to handle any emergency. Also, there is an Emergency Medical Technician (EMT) in every ambulance, fully trained to handle all the emergencies, providing emergency help while the victim is shifted to the nearest hospital. The 108 ambulance reaches in an average time of 20 minutes anywhere in the 4 districts. There is no charge for the service, right from dialing number 108 to emergency help in the ambulance and shifting the victim to the hospital.

Fact File of 108 ERS in MP till date

• 425 + GVK EMRI Associates

• Over 95 Lac population covered in 4 Districts (Bhopal, Indore, Jablapur and Gwalior)

• 90% calls taken in first ring

• 50,000+ emergencies handled

• 55 Ambulances – 4 trips a day

• < 19 minutes in urban and < 28 minutes in rural

• 2,500+ lives were saved

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HERO HONDA FIH HOCKEY WORLD CUP 2010 Live on Ten Sports

12 Nations! 1 Goal! To win the Hero Honda FIH Hockey World Cup! It’s the 12th World Cup Hockey tournament and it returns to India after 28 years. Hockey is India’s national game and a successful showcasing of the event will only enhance the sports popularity. The enigmatic city of New Delhi plays host to this epic event and the stage is set for action. The spanking new Major Dhyan Chand National Stadium is in all readiness for what promises to be two weeks of `Stick Magic’. Watch all the matches live on Ten Sports.

Ten Sports Studio Show:

Adding to all the action on the field, off the field viewers can tune into the Ten Sports interactive Studio Show. Hostess Mayanti Langer along with eminent guests Cedric D’Souza and Jagbir Singh will analyse and discuss the games as they happen. Player profiles, match statistics, highlight, spectacular goals and a host of other informative segments will form part of this comprehensive show.

The Teams:

Twelve teams will vie for the coveted trophy in the 2010 edition of the FIH World Cup Hockey. For qualification, the FIH organized three World Cup Qualification tournaments. The winner of each World Cup Qualification Tournament qualified for the World Cup. In addition to the three, the host country gets automatic qualification and each of the continental champions from five confederations receives an automatic berth. The remaining 3 slots went to the teams that finished runners up, third and 4th at the EuroHockey Nations Championship.

India (Host)
Canada (Champion of the Pan American Cup)
Korea (Champion of the Men’s Asia Cup)
South Africa (Champion of the Africa Cup of Nations, 2009)
Australia (Champion of the Men’s Oceania Cup)
England (Champion of the Men’s EuroHockey Nations Championship)
Germany (Silver medalist of the Men’s EuroHockey Nations Championship)
Netherlands (Bronze medalist of the Men’s EuroHockey Nations Championship)
Spain (Fourth ranked team of the Men’s EuroHockey Nations Championship)
Pakistan (Winner of the Men’s World Cup Qualification Tournament – No. 1)
New Zealand (Winner of the Men’s World Cup Qualification Tournament – No. 2)
Argentina (Winner of the Men’s World Cup Qualification Tournament – No. 3)

These Twelve countries that are participating in the mega event of Hockey are divided into two pools. Argentina, Canada, Germany, Korea, Netherlands and New Zealand are in Pool A whereas host India, Australia, England, Pakistan, South Africa and Spain are in Pool B.

To kick off proceedings, the organizers could not have chosen a better match up that the one between arch rivals Pakistan and India. Match number one will surely set the pace of things to come in the remainder of the tournament.

The Stadium:

The remodelled and reconstructed Major Dhyan Chand National Stadium is the venue for 2010 Hero Honda FIH Hockey World Cup. The historic stadium which once hosted the first Asian Games that were held in 1951, will begin its new journey in it’s current avatar, with the Hero Honda FIH Hockey World Cup 2010. The stadium has got an international look with modern changing rooms equipped with sauna, massage, lockers and other facilities. Add For sure it compares with the best in the world.

The Trophy

The Trophy for the Hero Honda FIH Hockey World Cup was designed by Bashir Moojid of the Pakistani Army. The trophy consists of a silver cup with an intricate floral design, surmounted by a globe of the world in silver and gold, placed on a high blade base inlaid with ivory. At the end of two weeks of riveting hockey, one nation will get its hands around this masterpiece.

Referrals to be used:

This edition of the World cup will allow players to ask for one referral per match to the video umpire.On the basis of the trial during Champions Trophy in Melbourne last year, each team will be allowed one Team Referral during any match, including extra time periods and penalty stroke competitions, on the award of goals, penalty strokes and penalty corners. Any team player, who is on the pitch at the time of the incident rather than just the captain, can request a Team Referral. The team will retain its right to referral after every successful referral.Besides, the Team Referral, match umpires may also refer decisions to the video umpire when they are not convinced that they have taken, or are able to take, a correct decision relating to the awarding or disallowing of goals.

Ten Sports Studio Show:

The multi media theme for this 12th Edition of the FIH Hockey World Cup is ` Phir Dil Do Hockey Ko’ and one can be rest assured that the city of New Delhi will live up to its reputation of being the city with a heart and for the next two weeks the heart that will beat for hockey

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Shobana Kamineni, Wholetime Director, Apollo Munich Health Insurance on Post Budget Reactions

“I think this budget is good for the domestic economy. The government seems to be doing its bit towards economic recovery. The decision to broaden the tax exemption limits and to provide increased level of tax exemption under section 80C is a welcome and would provide fresh impetus with enhanced disposable income. Furthermore, the decision to reduce the CVD by 5% on medical equipments is a very positive step taken by the government to bring down healthcare costs. As for the insurance sector, Health insurance has been acknowledged as one of the most efficient means to meet and manage spends on healthcare. We were looking forward to an increase in the tax exemption limit on Health Insurance to address the rising cost of medical treatment in India.”

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eScan’s Union Budget 2010-2011 Reaction

There is a good and clear indication in the Budget 2010 that the GST is going to be a reality from 2011 onwards.The question as to whether the 2011 roll out of GST is practical or not is subjective, especially in a country like India, Involving so many state govts, with different value base, political outlooks, regional interests etc. The govt has already placed the draft GST document open to public scrutiny and comments for quite some time now. Further, CMs/finance ministers of all different states have held atleast seven meetings so far, to debate, highlight & sort out each state’s issues/concerns on rolling out the GST as soon as possible. Despite all these, some of the States are still at a disagreement mode with the Centre on some ground or the other, giving a clear signal that implementing GST with a consensus from all the state participants are practically impossible, atleast in the near future.In this scenario however, from the language used in his Budget speech today, it appears that the FM is determined to bulldoze and get thru on the subject ( may be through Central govt incentives or sharing of possible revenue losses with the State govts etc, etc ), in the committed one year time period again. And knowing Mr.Pranab Mukherjee, this approach is quite practical and hence the GST roll out too, from 2011 as promised in today’s Budget.

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Ranbir to be butler in new commercial

New Delhi, March 1 (IANS) Bollywood actor Ranbir Kapoor, one of the brand ambassadors of Pepsi, will play the role of a butler in a new TV commercial for the beverage. Continue reading

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Nicole Kidman to show funny side in new film

Melbourne, Mar 1 (ANI): Nicole Kidman has joined the cast of the romantic comedy Just Go with It. Continue reading

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‘Atithi tum kab…?’ about unannounced guests

New Delhi, March 1 (IANS) Ajay Devgan and Konkona Sen Sharma feel their upcoming flick 'Atithi tum kab jaoge?' is a laugh riot that shows how young couples in Mumbai deal with an unannounced guest. Continue reading

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Budget reaction – S Mahalingam, CFO, TCS and N Chandrasekaran, CEO & MD, TCS

“Increased thrust in key areas like primary education, health, infrastructure, rural development, and financial inclusion would fuel broad-based growth and development. Enhanced focus on SEZs to drive growth and employment and clarity on the tax regime is welcome. This would aid recovery for the IT industry. Social transformation and technology enabled governance will gain momentum and this is good news for the country.” – S Mahalingam, CFO, TCS

“The Finance Minister has given us a pragmatic forward looking budget that provides clarity to business. We appreciate the clarification on Section 10AA and the Direct Tax Code, implementation date. The changes to the personal income tax are very beneficial to all professionals and is in line with overall simplification theme.” – N Chandrasekaran, CEO & MD, TCS

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Feb manufacturing at 20-month high: HSBC

Feb manufacturing at 20-month high: HSBCHSBC PMI based on a survey of 500 companies, rose to 58.5 in February, its strongest reading since June 2008. Budget 2010: What it means for the economy Continue reading

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Balancing the Fiscal prudence and Enhancing Growth

Pankaj Razdan, Deputy Chief Executive – Financial Services, Aditya Birla Group

The Finance minister has done a commendable job by delivering a very prudent and progressive Budget particularly at a time when the developed economies are reeling under the pressure of sub-optimal growth, mounting debt burden and demographic disadvantages.

Finance Minister has successfully envisaged achievement of fiscal consolidation with very minimal rollback of stimulus measures announced in the wake of the credit crisis. The key theme of budget is that it continues to stoke consumption by directly injecting more disposable income in the hands of people via tax cuts, which will promote sustained economic growth.

The thrust has rightly been on laying down the structural framework for major reforms like Goods and Service Tax (GST) and Direct Tax Code, both of which is proposed to be implemented from 1st April 2011. Leaving the service tax rates untouched is a signal that the move towards GST would happen soon.

Finance minister also given Road map on giving some additional banking licenses to private sector players including NBFC’S s strategic step in right direction and which will lead to more healthy competition and penetration in banking sector in Long-term.

The revenue estimates from 3G auction and Disinvestment targets at $17 bn is also not small but it looks achievable given that the Government’s has over-delivered in this area this year and we expect strong domestic and FII inflow, which is likely to cross $35-40 bn this year. I feel, this will in fact throw excellent opportunity to participate in Navratna and Mini Navaratna of Indian Public sector.

Overall, the budget has projected significant fiscal consolidation. However, the achievement of this consolidation is based on proceeds of disinvestments and not so much on stimulus rollback which leaves upside surprise on revenue collection. The budget pushes the consumption envelop further through tax cuts, Further, prudence in fiscal deficit relieves pressure on interest rates and leaves room for funding of public and private capex in conducive rate environment.

Increase in deduction in allowable R & D expenditure from 150% TO 200% will open door for Indian skilled and talented work pool to create India a Cost efficient Research hub for global Innovation.

In a nutshell, I think this budget has laid down structural roadmap not only addressing current years growth but demonstrated capability to drive India to the next level of growth with sharp focus on spurring consumption, accelerating infrastructure growth and promoting inclusive growth along with achieving fiscal Discipline.

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Eurocopter gears up to strengthen partnerships with Indian industry

Strong presence at India Aviation 2010 – Joint announcements to be made together with long-time partner Pawan Hans Helicopter Limited

March 1, 2010 /India PRwire/

Eurocopter, the global leader in helicopter manufacturing, will be showing a strong presence at India Aviation 2010, the second edition of the international exhibition on Civil Aviation Sector. This event, being organized by the Indian Ministry of Civil Aviation, will see Eurocopter presenting its range of commercial helicopters and latest technology.

As Norbert Ducrot, Eurocopter Senior Vice President Sales & Marketing Asia Pacific points out,

With plans to establish flying ambulances, faster transport services to tourist destinations and religious places, and set up heliports in Delhi and Mumbai, the helicopter has a busy time ahead. As always, we at Eurocopter are set to bring in our expertise to support the growth of the Indian aerospace industry. “

Eurocopter currently has a fleet of 76 civil helicopters flying in India . Eurocopter covers about 50 percent of the oil & gas segment, with a majority of its aircraft being in service with Pawan Hans and Indocopters.

“For us, it is a very exciting time with respect to the Indian market. We plan to take our relationship with the Indian civil sector to the next level through several partnership agreements planned with our partners like Pawan Hans over the next few months. Our ambition is to largely increase our footprint in India to accompany the fast development of the helicopter services in this country.” added Mr. Ducrot, elaborating on Eurocopter’s plans for India.

Eurocopter expects the commercial sector around corporate and VIP transport to grow rapidly in India. Its newly designed Stylence range perfectly meets the Indian requirements. The second area of visible growth in India will be the Oil &Gas industry, which will create a need for medium range helicopters like the EC155 and AS365N3 or longer-range like the EC225. The field of Emergency Medical Services (EMS) as operated by helicopters will also emerge in a rather short time span. With more than 60% of the world EMS helicopter fleet, Eurocopter is committed to invest in the Indian market and to share its experience. Finally, with the powerful, reliable and cost-effective AS350B3, Eurocopter is a strong leader in the world for Utility missions. This helicopter is also perfectly adapted to Indian utility missions’ requirements. Therefore, thanks to its high-performing and easily adaptable range of products – the largest in the world – Eurocopter can fulfill all the needs of India, whatever the mission requirements are.

Flying high on the international success of this range, Eurocopter will be showcasing specifications and mock-up models of reference products like EC155 and EC175, the latest member of the Eurocopter family. Eurocopter’s long-term partner, Indocopters, will have an EC120 displayed on their booth. Flight demonstrations of the EC135 will also be conducted for existing and potential clients.

EC 175 –

The Eurocopter EC 175 medium twin helicopter made its first maiden flight in December 2009. This program milestone, planned for late 2009, was thus achieved on schedule. The EC 175′s radius of action offshore is 270 nm at ISA+20 and it has a top cruise speed of about 135 knots. The main gearbox has the capability to fly for 30 minutes after total loss of oil. Targeted primarily at the offshore oil market, the EC 175 offers 16 passenger seats. The Pratt & Whitney Canada PT6C-67E-powered rotorcraft is a 50-50 joint program with China’s Avicopter. EASA certification for this helicopter is pegged for 2011.

EC 155 –

The Eurocopter EC 155 medium-lift twin engine helicopter is a development of the AS 365N Dauphin 2, with 40% larger cabin area, new rotor and ‘glass cockpit’. In the medium/twin segment, the Dauphin family is looked upon as a key player thanks to its very high flight speed and long range. The spacious cabin, unrivalled flight comfort and remarkable autopilot raise the EC155 B1 to the standards of an airliner or a business jet. In India, leading corporations have become the latest members of this selected world club by acquiring the coveted EC155 helicopters.

Source: Press release distribution via India PRwire

Notes to Editor

About Eurocopter

Established in 1992, the Franco-German-Spanish Eurocopter Group is a Division of EADS, a world leader in aerospace, defence and related services. The Eurocopter Group employs approx. 15,600 people. In 2009, Eurocopter confirmed its position as the world’s No. 1 helicopter manufacturer in the civil and parapublic market, with a turnover of 4.6 billion Euros, orders for 344 new helicopters, and a 52 percent market share in the civil and parapublic sectors. Overall, the Group’s products account for 30 percent of the total world helicopter fleet. Its strong worldwide presence is ensured by its 18 subsidiaries on five continents, along with a dense network of distributors, certified agents and maintenance centres. More than 10,500 Eurocopter helicopters are currently in service with over 2,800 customers in more than 140 countries. Eurocopter offers the largest civil and military helicopter range in the world.

For more information, please contact:
Nirjhara Rastogi (senior executive)

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Budget reaction by Dr. RP Singhania, Vice Chairman & Managing Director, JK Tyre & Industries Ltd.

Dr. RP Singhania, Vice Chairman & Managing Director, JK Tyre & Industries Ltd. commented on the overall budget, “The Finance Minister has presented a well balanced Budget for 2010-2011 – indeed for aam-admi. It is supportive for the tax payers as realigning the slab limit will help in reducing burden on the tax payers. Its focus on development of agricultural on one hand, and infrastructure on the other, particularly at this critical phase of our economy is laudable. While giving special emphasis on social sector specially the rural sector, he has done the obvious by partly withdrawing the stimulus package. I am sure, the Budget tabled today will bring about sense of optimism and induce higher growth in the coming year. While he has tried to contain the fiscal deficit, increase in the MAT rates is counterproductive. Tyre Industry is particularly disappointed that the inverted duty structure on Natural Rubber Imports has not been addressed for yet another year.

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Institutional report on Union Budget 2010 from ICICI Direct.

Overall, we view the government’s FY11 Budget proposals in positive light. Key positives are: i) the distinct message on policies and reforms; ii) a clear roadmap towards fiscal consolidation; iii) the continued move towards a simplified tax structure and removal of exemptions; iv) treatment of the earlier stimuli offered, in terms of lower excise duties, was calibrated and just about right (excise duties were raised 2%). Market expectations were low in the run-up to the Budget and fears on issues such as capital gain tax increases or a complete rollback of stimulus did not materialise. Global market volatility will likely impact India; except this, the Budget boosts our comfort with broader markets for ’10 and we continue not to expect any significant downside from current levels. We believe that the banking sector, which has been one of our preferred investment ideas, has emerged even more attractive post the Budget announcement.

· A distinct message on policies and reforms…We view the Budget as high on policy, with the finance minister sounding confident on implementation of the Direct Tax Code and the Good & Services Tax by April ’11, and having taken steps to simplify the corporate tax structure and reduce exemptions (Minimum Alternate Tax-MAT was increased to 18% from 15%; exemptions for software export units were not extended; and surcharge was reduced to 7.5% from 10%); also, there were statements on the direction on petroleum product pricing. Personal tax was reduced somewhat, with the broadening of tax slabs. Earlier excise duty reductions were rolled back 2% (to 10% from 8%), exactly in line with market expectations.

· …and a clear roadmap towards fiscal consolidation. The government targets fiscal deficit of 5.5%, 4.8% and 4.1% for FY11, FY12 and FY13 respectively (this includes “off-balance sheet” items such as oil subsidies). We believe that the 5.5% target for FY11 was in-line or better-than market expectations. If the aforementioned targets are met, the fiscal deficit (as a percentage of GDP) would have effectively halved in four years (from 7.8% in FY09). Revised FY10 deficit estimate is 6.9% versus the budgeted estimate of 6.8%.

· Key surprises. Overall, the fiscal deficit expectations soothed the markets, in our view. The increase in MAT was a negative surprise, though the impact on corporate earnings is not very large and was fairly offset by a reduction of surcharge. A steep increase in excise rates on cigarettes was a negative surprise. The fine-print on items included within the ambit of service tax has also negatively surprised – real estate and rail freight are examples. We think that the Budget is positive for the financials as the expected government borrowing has not been a negative surprise and concerns of an impact on credit growth were belied. ITC will be hurt by our estimated 17% effective excise hike. Real estate, particularly commercial, will be hit by the inclusion of lease rentals, construction activity and land rent under service tax. MAT and increase in MS & HSD excise duty will hurt RIL.

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MoneyGram International Expands Agent Network in Vietnam with Sacombank

MoneyGram International (NYSE:MGI), a leading global money transfer
company, announced today a significant expansion of its money transfer
services in Vietnam as Sacombank joins the company’s agent network,
adding 253 countrywide locations.
“Vietnam is a leading recipient of global remittances and a country of
significant focus for MoneyGram in 2010”
“Vietnam is a leading recipient of global remittances and a country of
significant focus for MoneyGram in 2010,” said John Hempsey, MoneyGram’s
executive vice president of Europe, the Middle East, Africa and Asia
Pacific. “As consumers seek greater value, our latest expansion will
provide highly convenient money transfer services and more choices for
consumers to collect MoneyGram money transfers from a leading remittance
organization, including their current trusted bank location.”
Approximately $7 billion in remittances arrive in Vietnam each year,
primarily from the United States and Canada, according to World Bank
estimates.
Nick Cunnew, MoneyGram’s senior regional director of Asia Pacific and
South Asia, explained, “Many Vietnamese are sending funds home to invest
with preferred financial institutions as well as to support family. By
adding our services to a financial institution already known as a
remittance leader, consumers have a compelling reason to try our brand
and discover the value of MoneyGram’s services, including low fees and
convenient and reliable agent locations.”
Previously, DongA Bank joined MoneyGram’s agent network and in addition
to providing MoneyGram money transfer services at its 130 branch
locations, the bank also offers the added convenience of home delivery
for MoneyGram. Customers in Vietnam can collect their funds at a home or
business with DongA’s delivery service.
Hempsey added, “Vietnam has unique remittance needs and we aim to
provide our money transfer services in all the ways our consumers desire
to receive funds. We recently added money transfer services to mobile
phones in the Philippines and we look forward to bringing greater
convenience to remittances in Vietnam with our future network
developments.”
In addition to its network expansion, MoneyGram recently awarded a
$10,000 grant to Children of Vietnam, a U.S.-based not for profit agency
with a local office in Vietnam. The grant will build a kindergarten in a
rural community of Quang Nam province, where nearly 100 children
currently have no access to these services.
About MoneyGram International
MoneyGram International offers more choices for people separated from
friends and family by distance or those with limited bank relationships
to meet their financial needs. A leading global provider of money
transfer services, MoneyGram International helps consumers to safely
send money around the world with funds arriving at available agent
locations in as little as 10 minutes. Its global network is comprised of
190,000 agent locations in more than 190 countries and territories.
MoneyGram’s convenient and reliable network includes retailers,
international post offices and financial institutions. To learn more
about money transfer at an agent location, please visit www.moneygram.com
or follow us on Facebook.

Source: Business Wire

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GO-TrustTM is Shipping ‘KingCallTM’ The First Ever microSD Smart Card ‘In-Chip’ Encryption for Voice and Text on Mobile Phones

On the opening day of the RSA, Security Conference Expo, GOTrust
Technology Inc. (GO-TrustTM) announced they are delivering
KingCallTM, a comprehensive VoIP encryption application that
uses a very special microSD (SDencrypter) containing a high-performance
smart card chip and high-speed communication interfaces to protect
mobile phone communication1. All the encryption and
decryption is done inside the SDencrypter so it does not impact the
performance of the phone and also prevent any possibilities of a Trojan
virus stealing encryption keys. KingCallTM uses a microSD
module loaded into unmodified 3G smart phones provided by existing phone
service operators; making KingCallTM very simple and
economical to deploy over a wide user base. “After GSM encryption was
compromised last year2, phone users around the world have
been looking for a secure alternative for their private and sensitive
communications,” said Darren Lee, CEO of GO-TrustTM, “once
again we are first with our KingCallTM solution; incredibly
powerful encryption/decryption technology for voice and text; built into
a microSD. Just insert the KingCallTM microSD in existing
smart phones and you are secure once more.”
“After GSM encryption was
compromised last year2, phone users around the world have
been looking for a secure alternative for their private and sensitive
communications”
About GOTrust Technology Inc.
GOTrust Technology Inc. (GO-TrustTM) is a world-class
innovator embedding hardware chip security and applications in microSD
smart card devices that support high-speed communication. After
delivering the world’s first microSD smart card in 2006, GO-TrustTM
has advanced microSD innovation with six different hardware offerings
including PKI, JAVA, RFID and SDencrypterTM; plus three
complete user applications including One-Time-Password, Secure
Verification by SMS and KingCallTM. Other user-developed
applications include Mobile ATM Banking, Mobile PKI VPN, DRM and
Streaming Video Descrambling. GO-Trust is a multi-national organization
headquartered in Taichung, Taiwan with subsidiaries in California, Hong
Kong and an exclusive partner in Beijing (MSecure Co., Ltd.). For
additional company information, visit http://www.go-trust.com
or call (714) 658-4445.
1 Patent Pending.
2 See “Cell Phone
Encryption Code Is Divulged” NY Times 12/28/09.
Note to Editors:
The KingCallTM secure communication solution will be
demonstrated on Windows Mobile Sprint and T-Mobile smart phones at RSA
San Francisco in booth #550.
Other operating systems including Android will be available later this
year.
For pre-scheduled demonstrations, please email williamholmes@go-trust.com.
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Source: Business Wire

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Aruba Networks and Motion Computing Deliver Unified Communications Services at the Point-of-Care in Hospitals and Remote Clinics

Aruba Networks, Inc. (NASDAQ:ARUN), a global leader in 802.11n wireless
LANs and secure mobility solutions, and Motion Computing, a leading
provider of integrated mobile computing solutions, today announced a
certified healthcare solution to reliably deliver unified communications
services and data access at the point-of-care. The solution uses Aruba’s
adaptive 802.11n
and Virtual
Branch Network (VBN) technologies to deliver the quality-of-service,
security, and remote access needed to simultaneously support voice,
video and data applications on Motion C5 Mobile Clinical Assistants
(MCA) and Motion Clinical Workstations (MCW-200).
“Our high-speed
802.11n wireless LANs are application-aware, and automatically adapt
themselves to deliver the bandwidth, airtime, and quality-of-service
required by unified communication applications at the point-of-care. The
resulting wire-like performance enables Motion’s platforms to take
clinical productivity to a new level.”
“Unlike general data access services, point-of-care voice and video
communications are latency-sensitive and require special handling,” said
Manav Khurana, Aruba’s Head of Industry Marketing. “Our high-speed
802.11n wireless LANs are application-aware, and automatically adapt
themselves to deliver the bandwidth, airtime, and quality-of-service
required by unified communication applications at the point-of-care. The
resulting wire-like performance enables Motion’s platforms to take
clinical productivity to a new level.”
The Motion C5
is a hospital-grade slate tablet PC and the healthcare industry’s first
MCA. The tool improves clinical productivity, optimizes electronic
medical record (EMR) utilization, and enhances clinician efficiency by
enabling the use of technology directly at the point of care. The
flexible MCW-200
workstation improves communication and collaboration involving complex
work-flows and information-rich content, delivers up to 15 hours of
battery life, and is available with integrated voice and video support.
Aruba’s Adaptive
Radio Management (ARM) technology improves the wireless performance
of both devices by automatically optimizing Wi-Fi band selection, load
balancing, and power levels in real-time, an important function in a
healthcare facility’s dynamically changing RF environment.
“Providing unified communications and automated patient data management
at the point-of-care requires that the Wi-Fi network follow in lock-step
as clinicians with C5 or MCW-200 devices roam through a hospital campus
or satellite clinic,” said Mike Stinson, Motion Computing’s Vice
President of Marketing. “Aruba’s 802.11n solutions deliver assured
access to latency-sensitive communications services, regardless of where
the clinician is working. That makes possible a wide range of new
opportunities to improve patient care and reduce staff workload.”
Typical applications supported by the new solution include:
Video and Voice Communications: improves collaboration among
clinicians both on campus and remotely with wireless medical cart
video and voice communications;
EMR and Clinical Documentation: saves time and minimizes redundant
work by enabling clinicians to enter patient data and access reference
materials at the bedside or on-the-go;
Computerized Physician Order Entry (CPOE): reduces prescription
fulfillment delays and errors with real-time access to drug-drug and
drug-allergy contraindications;
Electronic Medication Administration Record (eMAR): uses real-time
barcode checks to help enforce the “5 patient rights” (right drug,
recipient, dosage, route and time) during drug administration;
Practice Management: improves efficiency with anywhere, anytime access
to scheduling and resource planning information;
Mobile Image Consult: enables more expedient comparative studies and
bedside patient education through mobile access to reference copies of
PACS images.
Seamless remote access is an important feature of the new solution.
Aruba’s VBN
technology securely extends network access off site via inexpensive Remote
Access Points (RAPs), which provide secure, authenticated remote
access to a hospital’s data center. Controllers in the data center
handle all VBN-related configuration, management, and security tasks.
Centralizing these services in the controllers simplifies the design and
installation of the RAPs. VBN delivers an identical user experience
remotely as clinicians using C5 and MCW-200 tools enjoy on the hospital
campus, without compromising privacy and security regulations.
To learn more about Aruba’s healthcare solutions please visit our Web
site.
About Aruba Networks
People move. Networks must follow. Aruba securely delivers networks to
users, wherever they work or roam, using a combination of award-winning
solutions:
Adaptive 802.11n Wi-Fi networks optimize themselves to ensure that
users are always within reach of mission-critical information.
Rightsizing expensive wired LANs by replacing them with high-speed
802.11n Wi-Fi reduces both capital and operating expenses;
Identity-based security assigns access policies to users, enforcing
those policies whenever and wherever a network is accessed;
Remote networking solutions for branch offices, fixed telecommuters,
and satellite facilities ensures uninterrupted remote access to
applications;
Multi-vendor network management provides a single point of control
while managing both legacy and new wireless networks from Aruba and
its competitors.
The cost, convenience, and security benefits of our secure mobility
solutions are fundamentally changing how and where we work. Listed on
the NASDAQ and Russell 2000° Index, Aruba is based in Sunnyvale,
California, and has operations throughout the Americas, Europe, Middle
East, and Asia Pacific regions. To learn more, visit Aruba at http://www.arubanetworks.com.
For real-time news updates follow Aruba on Twitter,
Facebook,
or the Green
Island News Blog.
About Motion Computing
Motion Computing is a leading provider of integrated mobile computing
solutions, combining world-class products with services customized for
the unique needs of target vertical markets. The company’s enhanced line
of rugged tablet PCs, mobile point-of-care solutions and accessories are
designed to increase mobile productivity while providing portability,
security, power and versatility. Motion Mobility Solutions offers a
complete portfolio of products, services and support that helps ensure a
successful mobile deployment for increased productivity, reducing
project risk while delivering a more rapid return on investment. For
more information, visit www.motioncomputing.com.
® 2009 Aruba Networks, Inc. AirWave°, Aruba Networks°,
Aruba Mobility Management System°, Bluescanner,
For Wireless That Works°, Mobile Edge Architecture,
People Move. Networks Must Follow., The All-Wireless Workplace Is
Now Open For Business, RFprotect, Green Island, and
The Mobile Edge Company° are trademarks of Aruba
Networks, Inc. All rights reserved. All other trademarks are the
property of their respective owners.

Source: Business Wire

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