London is changing

By London Swaminathan 26th july 2012

London is changing. London’s skyline is changing fast. If you had been toLondon 15 years ago and talk to your friends or grand children aboutLondon today, you must know it is not the same old London you had seen. I have been living in London for over 25 years.  I did not see any significant change in the first 15 years. Everything was same for the tourists: Big Ben, Parliament Building, the old Buckingham Palace, Piccadilly Circus, London Bridge, Tower Bridge, Madame Tussuads (wax museum), Thames River cruise etc. But in the past ten years new shopping malls have come up. New attractions like London Eye, Cable car across Thames river (they have given a misleading name for this cable car as Emirates Airline!), Shard-Western Europe’s tallest building have been added.

London is looking new with preparations for the Olympics. The exciting opening ceremony is on Friday 27^th July 2012. This is the third time Olympics is held in London. I went round London this morning to look at the new attractions. Before comparing the three Olympics in London, let us look at the new attractions:

London Eye:

Location: On the banks of River Thames, near Big Ben.

Nearest underground: Westminster

Height: 443 feet

Opening: Year 1999

What is it: You can board any one of the 32 capsules and go up the Giant Wheel. You can have a bird’s eye view of London. Since it is moving very slowly, no one will feel sick.

Each capsule can hold 25 people.

Tickets: You can buy it at the entrance.

See the impressive picture.

Cable Car (Emirates Airline)

Location: Linking North Greenwich and Victoria Docks

Nearest Underground: North Greenwich or Victoria Docks (Docklands).These two stations are on either side.

What is it: It is a five minute ride across the river Thames in capsules of cable car. It is not very exciting. But the price is not high compared toLondon Eye or Madame Tussauds.

Dimensions: Height 300 feet above the river, Total length both ways one kilometre, carries 2500 passengers every hour.

Opened in June 2012

Shard-Tallest Tower in West Europe

Location: London Bridge

Nearest Underground: London Bridge

Height: 1016 feet (95 floors),covered with glass.

What is it: Tall building with space for residences and office. A restaurant for general public will be opened in February 2013.

Ticket price will be equal to Empire State Building in the USA.

Opened: in July 2012

The tallest building of Europe is in Russia.

3 OLYMPICS IN LONDON

1908 Olympics in London: 2000 athletes from 22 countries, 22 sports (110 events)

1948 Olympics in London: 4000 athletes from 59 countries, 20 sports (150 events)

2012 Olympics in London: 10,250 athletes from 205 countries, 26 sports (300+ events)

Another 4500 athletes will take part in Paralympics.

It has grown from 2000 athletes to 10,250 athletes! USA alone sends 2500 TV staff to cover the Olympics on TV!

Six medals for India?

Sports analysts predict India may win up to six medals including two gold medals. Let us wait and see. Archery, Rifle Shooting, Wrestling, Boxing and few other games are our strong areas.

************ 

Quote Gems - Will Rogers

     

"Even if you are on the right track, 

you will get run over if you just sit there."

William Penn Adair "Will" Rogers (November 4, 1879 – August 15, 1935) was an American cowboy, vaudeville performer, humorist, social commentator and motion picture actor. He was one of the world's best-known celebrities

Greece has only a couple of weeks left to convince its creditors

The Economist :Jul 28th 2012 | ATHENS |

ON HIS visit to Athens this week, José Manuel Barroso, the head of the European Union (EU) Commission, brought a stern warning for Antonis Samaras, the new prime minister of a precarious right-left coalition government. Greece has only a couple of weeks left to convince its creditors that it can put economic reforms back on track. Should its latest plans for making €14.5 billion ($17.6 billion) of spending cuts over the coming two years be judged unrealistic, the next €31.2 billion loan tranche will again be held back.

If that happens, Greece would be unable to finish recapitalising its big banks. Without credit, the economy will seize up. Pensions and public-sector salaries would not be paid. A “Grexit” from the euro could occur within weeks. The worry for Greeks is that with Spain and Italy coming under attack in financial markets, some euro-zone members may be tempted to sacrifice Greece.

Two previous Athens governments have failed dismally since mid-2010 to implement reforms agreed on with the Commission and the IMF, thanks to widespread official corruption and a lack of political will. Mr Samaras opposed the first Greek bail-out while in opposition; he still wants, at some point, to renegotiate parts of the second.

Yannis Stournaras, the technocratic finance minister, has the difficult job of persuading Greece’s creditors that his government can do better than its predecessors. The troika of officials from the EU, IMF and European Central Bank were especially dismayed by a looming €3 billion gap in privatisation revenues this year, as well as by the lack of progress in cutting jobs in the public sector.

Just after the troika arrived, on July 25th, Mr Stournaras announced new bosses for the privatisation agency. And Antonis Manitakis, the public-administration minister, declared that five public-sector entities would be shut immediately and another 16 merged. Their 5,250 employees would retire or be transferred to other jobs. That is still far short of the 15,000 dismissals in 2012 agreed to by the previous government. Annual savings would be a modest €40m. Mr Manitakis promises another 180 mergers, with much bigger savings, within weeks. The civil service union is already threatening to strike. Will Mr Barroso and the troika think it is enough?

No gripes of wrath

Karan Thapar, Hindustan Times
July 28, 2012



There's no doubt Pranab Mukherjee has a short fuse. It's probably the one quality most remembered about him. And when it blows, his anger is something to behold. But what's equally true, though less commented on, is that his anger subsides instantly and he never bears a grudge. Believe me, I 



should know.
My earliest memory of his short temper is the election of 1999. It happened during a recording of We the People, a programme I used to make for Star Plus long before NDTV purloined the title. Modelled on BBC's Question Time, Mr Mukherjee was representing the Congress, Ram Jethmalani was there on behalf of the BJP and, if I'm not mistaken, S Jaipal Reddy from what was left of the Janata Dal.


I interrupted Mr Mukherjee more often than he was willing to accept. Not only did this rile him, it also meant he got less time to speak than the other two. As the recording progressed, I could sense his impatience turning into irritation and then anger. As soon as it ended, he pushed back his chair and stormed out of the auditorium. By now he was furious.


"I'll never come again," he shouted as my colleagues tried in vain to mollify him. His face was puce. Rage was imprinted all over it.


That night I rang to apologise. I expected to be bawled out and anticipation of it made me nervous. That made my manner exceptionally contrite. But I was greeted by a cheerful Mr Mukherjee who had completely forgotten the incident of three hours ago.


"Don't be stupid," he said, his avuncular warmth evident and re-assuring. "You have nothing to apologise for."


Five years later it happened again. This time Mr Mukherjee was defence minister and it was an interview for the BBC programme HARDtalk India. My opening subject was allegations that he had forced through the promotion of an army officer against the wishes of the Army Promotion Board. At first Mr Mukherjee took it on the chin. But when I persisted, I could see his face colouring. When that did not stop me he started to splutter. Eventually he threatened to walk out if I did not stop.


I did and the interview continued for a further 15 minutes covering other subjects. When the cameras were switched off, I apologised for annoying him. Once again, I found his anger had completely disappeared.


"There's no need to apologise," he said, sounding genuine and by no means upset. "You were doing your job and I was doing mine." And then in a gesture I will never forget, he put his arm across my shoulder as I escorted him out of the studio to his waiting car.


The last interview I did was in August 2011, bang in the middle of the Anna Hazare crisis. I expected him to cancel but he kept his word. He asked me not to dwell on the Anna controversy for too long. I'm afraid I agreed but let him down. The full 30 minutes was on Anna.


This time he didn't show irritation and certainly didn't lose his temper. When I apologised for breaking my promise and sticking to one subject he smiled — and there's no nicer smile than Mr Mukherjee's — and said: "I knew you would. This was your golden chance."


Then, his eyes twinkling, added: "But I didn't give anything away." He was absolutely right. I may have got the interview but Mr Mukherjee was in full control of it.


The views expressed by the author are personal.

Lenovo unveils IdeaCentre A720 - the world’s slimmest All-in-One PC

28th july 2012
Lenovo, India’s no. 1 PC vendor (according to the latest IDC/Asia Pacific Tracker Q1 CY 2012) ) announced the launch of IdeaCentre A720- the world’s slimmest all in-one, in the country, to mark a new era in incredibly thin, light and ultra-responsive computing devices. . Powered by 3rd generation Intel® Core i7 processors, the IdeaCentre A720 offers a thin, frameless display that brings the best in computing and entertainment in a super stylish form. 


The sleek 27” Lenovo IdeaCentre® A720 creates a unique multiplayer experience with a 10-finger multi-touch screen that folds down flat for interactive tabletop games, powered by the latest processor and graphics technologies. The IdeaCentre A720 continues Lenovo’s heritage of svelte designs for the AIO by smartly positioning the PC at the base on the unit. 


The IdeaCentre A720’s widely adjustable hinge allows the screen to be pulled towards the user and folded back, making touch applications more comfortable over longer periods, in any position. With integrated entertainment features, such as Lenovo High-Sense (720p HD) Webcam and Lenovo IdeaTouch (a suite of touch-optimized applications and games), the IdeaCentre A720 is an ultra stylish and fun addition to the modern home entertainment center. 

Key highlights of the Product: 

· World’s slimmest 27” All-in-one PC with a frameless display, just 24.5mm thick 

· Latest processor and graphics technology – up to 3rd gen Intel® Core™ i7 processor and NVIDIA® GeForce® 2GB graphics 

· The 27” display on the A720 folds down flat (swivels -5 to 90o ) and comes with 10-finger multi-touch technology, ideal for multiple players to enjoy touch-based tabletop games, together on one device 

Key Product Specifications: 

· Up to Genuine Windows® 7 Home Premium & Win 8 Ready. 

· 27” Full HD (1920x1080) frameless 10 Point Multi-touch display, 16:9 widescreen 

· Up to NVIDIA® GeForce® GT 630M 2GB graphics 

· Up to 8GB DDR3 memory, up to 1TB HDD & up to 64GB SSD storage 

· Integrated DVD reader/writer or Blu-ray Disc™ drive 

· Integrated Bluetooth®1 & 802.11b/g/n Wi-Fi 

· USB2.0, USB3.0 connectors & 6in1 card reader 

· Integrated 720p HD webcam 

· HDMI in/out for connecting to other high-definition devices 

· Integrated stereo speakers supporting Dolby Home Theatre V4 audio enhancement 

· Integrated TV tuner 

· Lenovo Rescue System makes data backup and recovery simple 

· Lenovo Enhanced Experience 3 for Windows® 7 with RapidBoot lets you start 40% faster than a typical Windows 7 computer (available on certified models with Intel® Core™ i3, i5 or i7 processors ) 

· Lenovo Camera Fun Zone – see yourself on screen and move your hands to interact with these fun games 

· Lenovo IdeaTouch – a range of touch-optimized multimedia applications such as a synthesizer and games like Angry Birds 

· Lenovo Dynamic Brightness System – protects your eyes by automatically adjusting screen brightness based on ambient light conditions 

· Lenovo Eye Distance System – alerts if you are too close to the screen 

Price: INR 89,990/- onwards 

About Lenovo 

Lenovo (HKSE: 992) (ADR: LNVGY) is a $US30 billion personal technology company – and the second largest PC company in the world, serving customers in more than 160 countries. Dedicated to building exceptionally engineered PCs and mobile internet devices, Lenovo’s business is built on product innovation, a highly-efficient global supply chain and strong strategic execution. Formed by Lenovo Group’s acquisition of the former IBM Personal Computing Division, the company develops, manufactures and markets reliable, high-quality, secure and easy-to-use technology products and services. Its product lines include legendary Think-branded commercial PCs and Idea-branded consumer PCs, as well as servers, workstations, and a family of mobile internet devices, including tablets and smart phones. Lenovo has major research centers in Yamato, Japan; Beijing, China; and Raleigh, North Carolina. For more information, seehttp://www.lenovo.com/. 
Sourced From: Text100 PR

Bank funds drying up for power projects

SIDDHARTHA P. SAIKIA

K. R. SRIVATS /BL/29th July2012

Lenders put off by finances of State utilities, fuel uncertainties

NEW DELHI, JULY 28: 

Banks are cutting back on lending to the power sector. Credit growth to the power sector dipped to 13.65 per cent in May 2011 till May 2012 from 42.43 per cent in the corresponding previous period, according to RBI data.

The reason: There are few bankable projects, say bankers.

Deteriorating finances of State electricity boards, fuel uncertainties and the current procurement system are the main reasons due to which banks and financial institutions are wary of further exposure to the power sector. There are fewer bankable projects, say power industry watchers.

According to data compiled by Business Line, gross bank credit to the power sector had increased 42.4 per cent between May 21, 2010 (Rs 2,01,980 crore) and May 20, 2011 (Rs 2,87,550 crore). But, in the following year, between May 20, 2011 and May 18, 2012 (Rs 3,26,810 crore) the ailing sector saw domestic loans increasing by just 13.7 per cent.

There is silver lining only for projects for which fuel and other inputs are tied and offtake arrangements made. These projects continue to attract financing. But the environment is gloomy for most power producers.

“Banks and institutions will be cautious for at least next couple of years to take further exposure to this sector, unless there is clear sight of a solution to the fuel issues and the State electricity boards’ finances become reasonably healthy,” said Mr Debasish Mishra, Senior Director (Consulting), Deloitte in India.

In the coming months banks see pruning of exposure to discoms, as the government-designed loan restructuring package gets implemented. The package involves conversion of existing loans into bonds to be subscribed by the State governments. However, some States are averse to this. “Lenders have become more selective in financing power projects due to issues related to coal availability, environmental clearances, health of the state utilities, among others and that is reflected in the lower pace of commitments for the sector,” said Mr A. K. Singhal, Director (Finance) of NTPC.

But the country’s largest power producer NTPC has not scaled down capacity expansion plans. NTPC has awarded BTG (boiler turbine generator) contracts for projects of 6,860 MW and tenders have been invited for others projects totalling 13,000 MW, said Mr Singhal.

Not all power producers are strong as NTPC. “Power sector is a capital intensive industry and the banks that had earlier been aggressively funding these projects have hit their internal exposure limits for the sector and hence have slowed fresh sanctions,” said an official of Lanco Group.

Private power producer Lanco expects that once the the liquidity position of State electricity distribution companies improves, they will start paying their receivables to power producers on time as also clear past dues, improving the liquidity position of various developers. “This would enable developers approach banks again for funding further development of projects,” he added.

Financing also depends on the business model of the project. For instance, merchant power projects are less likely to find favour with the lenders due to a fall in the merchant power prices and greater offtake risks.

Recently, several changes were made to the regulations to improve availability of overseas debt to the power sector. However, Mr Singhal said, “given the high volatility and risk aversion in the global capital markets, we are not sure if domestic debt is getting replaced by foreign debt.”

(inputs from Shishir Sinha)

Chennai lensman’s snaps find slot in global journal

• One of Haksar’s works from the series ‘Divine Irony’ | EPS

Indian Express:By Sonali Shenoy / ENS - CHENNAI28th July 2012 08:50 AM

Sharad Haksar is a happy man. The Chennai-based ad photographer recently became the only lensman in Asia to grace the hallowed pages of Communication Arts Photography Annual 2012.

The Annual is the ultimate collection of the most creative images in the world. Brought out by the venerable journal ‘Communication Arts’, the book enjoys a coveted status among the creative community across the globe. The 2012 Annual featured 145 winning entries from a gargantuan 4,685 images submitted. Five of Sharad Haksar’s works will be showcased in the Annual.

“I am glad that it won,” says a jubilant Haksar. He adds, “Communication Arts is what every photographer dreams of. The last time I made it was in 2006. So you can imagine the standard.”

The series submitted by Haksar is titled ‘Divine Irony’. Simply put, the photographs are a pictorial commentary on every day India as seen through the prism of five Hindu deities. “I guess the contrast of rich and poor getting more and more extreme is what led to the idea,” he says. And while the brightly-coloured deities on the walls are pictures that one would come across on crossing a street, these images were ‘sets’, specifically set up for the purpose.

“It was quite a task,” Haksar recalls with a sigh. “Fifteen street artists were brought in to create the backgrounds.” This was apart from the models, animals in the shots and props. “The whole shoot took about a month to complete,” he states. Then recalls with a laugh, ‘I think the most challenging photo was the one with the elephant.” He goes on, “Every time we finished painting the set and positioned the elephant there, we realised the set was too small. On the third repaint, they finally got the set large enough,” he smiles.

So were the deities chosen for the concept to retain an Indian authenticity to his work? Haksar takes a moment to repond. Then states, “As an Indian photographer, I know that we’re strong in certain areas and weak in others,” the award winning lensman says simply.

“This is why I would never consider sending a stylised fashion shoot for an international entry.” Better locations, taller models...point taken. An elephant pushing a car, now we doubt anyone abroad could come up with that novel combination. In the pipeline, Haksar reveals that he hopes to focus more on fine art photography.

Although his next big project is under wraps, he does tell us this, “Its a concept-based fashion shoot with a social message.” He adds a little later, “The location that we have in mind is a dumpyard in the city.”