Frozen whiskey to beat the heat!

Summers will certainly be cooler for Scotch lovers this year, as a leading brand has now come up with a cool scotch solution to beat the heat for boozy Brits — frozen whiskey.

Served straight from the freezer, the Snow Grouse will be launched by the Famous Grouse.

The frozen spirit will soon be available in duty-free shops around the world for a six-month trial period. And if it turns out to be a hit with parched travellers, it would be seen on shelves in UK supermarkets next year.

The makers of this icy dram have described it as "gloopy and sweet" with a delicate, slightly vanilla taste, and they hope that it will certainly entice many more people to discover Scotch.

Anil Ambani becomes richer by Rs 27,000 cr after SP-UPA realignment

The new political combination at the Centre seems to be favouring Anil Ambani group companies more than that of his elder brother Mukesh, if one goes by the stock price movements of the two group companies.

Since July 7, when it became clear that Amar Singh, who is considered to be close to Anil Ambani, and his Samajwadi Party (SP) would support the government, the market capitalisation of Anil’s holdings in six companies increased by 24% to Rs 1,41,415 crore. That means, he became richer by almost Rs 27,000 crore.

During the same period, however, the market capitalisation of Mukesh Ambani’s holdings in the three companies increased by 7% to Rs 2,25,758 crore, making him richer by only Rs 14,000 crore.

From July 4 to July 24, the benchmark sensex increased by 9.8% as the stock market was betting on the government’s survival, without support of the Left parties. Since July 17, the bull run was much sharper as there was clearer indication of government sailing through trust vote in Parliament with new coalition, mainly with SP. During this time, share prices of ADAG (Anil Dhrirubhai Ambani Group) companies rose much higher than the rise in Sensex

Earlier, when the market was in a bearish mode, ADAG suffered one of the worst drubbing. From January 10 to July 4, while sensex fell 35%, market capitalisation of the ADAG companies declined by 57%. Market value of Anil’s holdings in the listed companies came down to Rs 1,14,120 crore from Rs 2,64,053 crore. He suffered a loss of almost Rs 1,50,000 crore during this period.

During the same time, market value of Mukesh’s holdings in the group’s listed companies declined by only 29% to Rs 2,11,417 crore from Rs 2,96,723 crore. This means, his market value declined by only Rs 85,000 crore

A senior fund manager said earlier investors apprehended that Anil’s companies will suffer because of his close affiliation with Amar Singh, who was rubbing shoulders with both Uttar Pradesh and the central government. As Anil has large business interest in UP, it was felt that his business interest might suffer. So ADAG stock prices were getting hammered with this negative sentiment. But, after the formation of new combination in the Centre, investors changed their perception and ADAG stocks boomed.

At the same time, Amar Singh’s demand to slap windfall tax on refineries, which are benefited because of the rise in crude prices, was being seen as a move to penalize RIL. Singh’s another demand to make RIL refineries, which are in export promotion zone, to sell their products in the domestic market, also affected Mukesh Ambani companies adversely.

A senior fund manager argued that the present political development does not affect the fate of large companies like RIL and RCOM. He said as Mukesh group companies did not fall much when the market was falling, it did not also gain much when the trend was reversed. As ADAG companies fell sharply in the market downturn, it also gained when market moved up. So, it was just a market movement, he added.

It's raining money in Bollywood!

One-film-old Imran Khan — hero of Jaane Tu Ya Jaane Na — comes with a price tag of Rs 7 crore for his next film, according to the latest Bollywood trade buzz. Jaane Tu..., which has collected Rs 30 crore approximately in just one week, has taken the nation by storm and catapulted its hero to super-stardom .

Shahid Kapoor, after the super-success of Vivaah and Jab We Met, which he has followed up with the “safe’ ’ Kismet Konnection , is now a bankable star with a Rs-8-crore tag.

Even one-film-old Ranbir Kapoor — who started with a not-too-successful Saawariya — now comes with a price tag of Rs 6 crore and is currently riding a wave, having bagged films with Prakash Jha, Raj Kumar Santoshi, Mani Ratnam , Yashraj Films and Karan Johar.

Big money is back in Bollywood, with stars — and even those who are only starting off on the long journey that may or may not end in stardom — jacking up their rates.

“Money is the new obsession that has taken over Bollywood,’’ says director Mahesh Bhatt. “It wasn’t as if our predecessors were not materialistic but they did not drool over money the way the current generation does every time you mention the word,’’ he adds.

So, at a time when one-film successes (and failures) are charging eight-digit figures , it is only natural that the established are going to charge a bomb. The latest rumour to take Bollywood by storm has it that Akshay Kumar has been signed by Studio 18 for a figure that is more than Rs 50 crore (this figure includes a 30 per cent share in profits and a stake in the film’s intellectual property rights) and Aneez Bazmee has been paid Rs 15 crore.

This follows the excitement generated by the Akshay-Anees Bazmee combination in Singh Is Kingg, the worldwide rights of which have been picked up by Studio 18 for Rs 62 crore.

Singh Is Kingg producer Vipul Shah says: “Akshay Kumar is generating mass hysteria right now and even his television show, Khatron Ke Khiladi, has got a huge start. But I wouldn’t like to comment on the price issue because some really crazy price talk has been doing the rounds.’’

Trade insiders say Kareena Kapoor and Saif Ali Khan, despite the debacle of Tashan, have been picked up at a price of Rs 27 crore by Ashtavinayak Films (though Aashtavinayak spokesperson Parag Desai has refused to confirm the amount). The industry is abuzz with talk that Saif and Kareena, who are marketing themselves as a package, have already been paid the signing amount of Rs 7.5 crore and will give dates to the Ashtavinayak project in the summer of 2009.

The Bhatt camp’s stars — Mallika Sherawat, Emran Hashmi and Shiney Ahuja — are also riding on the good times. Sherawat is asking for Rs 1.5 crore because her Ugly Aur Pagli — made on a modest budget of Rs 5 crore — has been sold to Percept Picture Company for Rs 6 crore. “PPC will make a killing with this film,’’ says a Bollywood insider.

“It has reportedly paid Rs 6 crore to Pritish Nandy Communications. And, even before the film has released, it is being offered Rs 5 crore for the film’s satellite rights. PPC is expected to push the satellite price to Rs 9 crore. So they’ve already made a profit even before the film hits theatres this August,’’ the industry experts adds.

Emraan Hashmi, post-Jannat , has reportedly been paid Rs 5.5 crore by Percept Picture Company; Shiney Ahuja is demanding Rs 7 crore post-Gangster and Bhool Bhuliya (in which he plays second fiddle to Akshay Kumar); and Bobby Deol will not even read a script unless he is paid a signing amount of Rs 2 crore (his price, according to industry grapevine, is Rs 5 crore a film).

N-deal spin-off - 100,000 new jobs, more research opportunities

One of the spin offs of the India-US civil nuclear deal coming through will be the creation of 100,000 new jobs for the 30-odd reactors that India hopes to set up to meet its nuclear power deadline of 20,000 MW by 2020, experts say.

Congress MP Rahul Gandhi highlighted the fillip the deal is expected to give to employment generation and the energy sector. Interacting with students of Ravindra Bharati in Hyderabad on Saturday, Gandhi said: "The nuclear deal means millions and millions of jobs, and lights in the houses of the poor in this country."

Union Minister of State for Commerce and Power Jairam Ramesh, visiting the Department of Atomic Energy (DAE)’s Kalpakkam campus in Tamil Nadu, said: "Nearly 10,000 MW of nuclear power would be generated from indigenous reactors, 8,000 MW from light water reactors and 2,000 MW from Fast Breeder Reactors (FBR)."

Thousands of engineers, technicians and scientists would be needed to run these establishments, he underlined.

"India’s 17 nuclear reactors have the capacity to generate 4,120 MW, but in 2007 they could produce only 1,800 MW due to lack of fuel," Ramesh said.

By 2020, India is likely to import six light water reactors while six nuclear plants are under construction to beef up generation capacity, said Nuclear Power Corporation of India Ltd Technical Director S.A. Bhardwaj.

The total expansion is valued at nearly $300 billion.

"India’s Department of Atomic Energy employs about 70,000 experts today," M.R. Srinivasan, former chairperson of the Atomic Energy Commission, told the media at a function in Kalpakkam.

The new nuclear power plants on the cards are expected to create at least a 100,000 new jobs in India, experts say.

Not just in India, the nuclear deal is expected to give a fillip to the industry in the US also.

In 2007, Ron Somers, president of the US-India Business Council, supporting the Indo-US Nuclear Cooperation Agreement, said: "The deal would create 27,000 high-quality jobs a year for the next 10 years in the US nuclear industry."

To strengthen research at universities, the DAE is providing grants for projects through the Board of Research in Nuclear Sciences. The DAE Graduate Fellowship Scheme for the Indian Institutes of Technology (IITs) has been in place since 2002 to promote collaborative research through postgraduate students.

IIT-Kanpur offers a course in nuclear engineering and technology, now IIT-Madras has also decided to offer a similar course from the 2009 academic session. The country’s premier institute for nuclear studies and research - The Homi Bhabha National Institute - will provide the necessary guides and teaching staff.

India has two hubs for advanced studies in nuclear technology - Mumbai and Kalpakkam. The Mumbai-based Bhabha Institute unifies 10 institutions, four premier centres and six autonomous institutes, each with a research-driven framework.

Bhabha Institute also includes DAE’s top research institute, The Bhabha Atomic Research Centre where old horses of the ’80s, the Cirus and Dhruva reactors, are still kept going. DAE’s other research institute is the Indira Gandhi Centre for Atomic Research (IGCAR), which was set up in 1971.

"The IGCAR has an open door policy for any student keen on science," says institute director Baldev Raj.

"The IGCAR has tried to strike a balance between networking with institutions with expertise and collaborating with academia for harvesting fresh thoughts," he added.

According to the Nuclear Energy Institute, 30 countries worldwide are operating 439 reactors for electricity generation and 34 new nuclear plants were under construction in 14 countries.

Tendulkar to make Bollywood debut

Sachin Tendulkar will make his Bollywood debut with a cameo role in a film about the miracles of the elephant-headed Hindu deity Ganesh.Tendulkar, widely regarded as one of the world’s best batsmen, will play himself in "Vighnaharta Shri Siddhivinayak," a film about the god, who is sometimes referred to as Siddhivinayak.

"He will play a small role, as himself, either in a song sequence or in an actual scene," said Rajiv Sanghvi, whose company is handling the film’s production.

Tendulkar’s office confirmed the cricketer would be shooting for the film after he returns from Sri Lanka where India is touring at the moment.

Tendulkar, a devotee of Ganesh, had offered to be a part of the project and will not be charging for the role, Sanghvi said.

The film is being produced by the Siddhivinayak Temple Trust, which looks after a famous temple dedicated to Ganesh in Mumbai.

"Sachin has been a regular at the temple for many years now and he never gives up an opportunity to show his devotion," said Subhash Mayekar, chairman of the trust.

"Vighnaharta Shri Siddhivinayak" is due to begin shooting next month, and will also feature a voice-over by Bollywood icon Amitabh Bachchan.

Secret love

Does the idea of having a secret lover cause a rush of adrenaline in your system? Here are things you need to keep in mind if you’re heading for a clandestine relationship. Secret relationships can seem fun and exciting in the beginning. More than just the joy of being with someone, it is the thrill of keeping something hidden from your close ones.

There are many reasons why you may choose to keep a relationship under wraps. It could be that your lover is not good-looking or of a different religion or it could be a workplace romance. Whatever the case, the fact is you have chosen to be with him/her. Such relationships generally start as a physical attachment but they can sometimes turn into something more.

Most people feel more open and relaxed in a secret relationship as they don’t have to worry about external influences. However, maintaining a secret life can be hard work. You have to avoid getting caught together, for if you do, the magic of the relationship could disappear. The other possibility is that the longer you spend with your partner, the more likely you are to fall for him/her.

However, if you do feel that a clandestine relationship is what you want, here are a few things you need to bear in mind:

You can’t share your thoughts
Those involved with secret lovers realise that while their friends can explicitly discuss their romantic life, they themselves cannot do the same. In such a situation you have to be careful about what you say and to whom. Very often you may also be forced to lie about your activities to family members so that they do not discover your secret. Being in such a bond could cause you additional frustration and stress.

Love barriers
Research shows that those in secret romantic bonds have lower levels of relationship satisfaction. While they can be enjoyable in the beginning, such relationships can become problematic later. You cannot tell anyone about your secret lover and have to be careful not to be seen together in public places. In such situations, you or your lover may get annoyed as neither of you can get possessive of each other.

Long term possibility
Most of us get carried away in the rush of the moment but sometimes we have to consider the long term effects of being in such a relationship. If you really like your partner, you have to accept that it may turn into something serious. Therefore, you have to be prepared to break the news to your family and friends. Try and be ready to make a decision as to whether he/she is someone you want to spend more time with or if it is just a passing phase. You will not be able to consult your friends about the decision so it’s really up to you to make the choice.

Be realistic
There are a large number of people who prefer to keep their love affairs under wraps. For many it is about escaping from society and questions from peers and family. However, having a secret lover is not as easy and as perfect as a ’Romeo and Juliet’ love story. You need to be practical about such relationships as you can end up hurting someone’s feelings. Talk to your partner from time to time about your relationship and make sure that your lover is clear about where you both stand and to avoid any disparity.

Right time for investors to accumulate green stocks

The oilfield of the future is not 200 feet deep below the surface. It is 96 million miles above the ground .This is not an understatement. High oil prices in the 1970s ended the era of crude oil as a source of electric power and kick-started the wind energy industry in Europe and elsewhere.

Will the current regime of triple-digit crude oil prices begin the era of renewable energy? Conventional sources of energy, including oil and coal, not only have to bear the brunt of higher costs, they are also under attack by the green brigade. These hydrocarbon fuels are blamed for global warming and climate change. And with climate change taking centre-stage in energy concerns across the globe, policymakers and investors are waking up to the potential of green energy — be it with wind, small-hydel, solar, bio-mass or ethanol.

Renewable energy sources like geothermal, solar and wind constitute approximately 2.2% of global energy generation. Internationally, a lot of investment is taking place in green fuels which are renewable and non-polluting. The momentum is the strongest in Europe and the fever is just catching up in India.

Barring wind energy and ethanol, there are few commercially operational projects in this space. This makes it difficult for equipment suppliers to establish scale and thus, bring down costs to competitive levels. With technological development being critical in the industry, these companies need huge funding in the initial years. Consequently, while many companies have forayed into the renewable space, only a handful of them have made it their main business.

We feel that this is a suitable time for investors to start accumulating right stocks in this space. Given the size of the global energy market, the sky is the limit for companies which get it right. We, at ETIG, bring you a bouquet of companies in the green-energy segment. Take your pick.

Wind power

As pointed out earlier, wind power is the largest and most popular among renewal sources right now. Initiated by government subsidies, the growth in wind energy in India has primarily been driven by technological advancement and higher scale of operations.

And as technology improves, wind energy is becoming costcompetitive vis-à-vis conventional sources. In the 1980s, a typical wind turbine generator (WTG) could produce one-tenth of a megawatt ( mw) of electricity; now 5-mw capacity WTGs are commonplace. The industry now plans to move offshore, where wind speed is higher and more consistent.

Offshore WTGs can produce up to 20 mw, which will radically change the scale and economics of wind energy. The best way to gain from growth in wind energy is to invest in equipment suppliers. In India, Suzlon Energyis the only major listed company in this space. It has grown beyond the domestic market to emerge as the world’s fifth largest wind turbine supplier with over 10.5% of global market share.

It is now aggressively investing in technology and manufacturing capacity to emerge as one of the top three global WTG suppliers. Its revenues have been rising steadily. But the company’s margins have come under pressure in the past six quarters due to a product recall involving one of its bigger customers in the US. In terms of valuations, Suzlon compares well with other equipment manufacturers like Bhel, which supplies equipment for coal-fired power plants. Considering its future growth potential and ambitious growth plans, investors can accumulate the stock.

Small hydel

Hydro power is one of the oldest sources of renewable energy. But it has lost out to thermal power due to the cost, complexity and time involved in executing large projects. These require construction of huge dams and reservoirs, damaging environment and displacing people.

This has created global interest in small projects, which are simpler to construct and do not damage ecology. Small rivers, rivulets and artificially-created storage dams or other small water bodies can be tapped to generate up to 20 mw power, which can be used locally.

Jyoti: This is a engineering company which manufactures small hydro-power (SHP) sets. It is the single source for hydro turbines and auxiliary equipment. This division contributes 20-25% to the company’s total revenues of over Rs 200 crore. Jyoti is in the growth stage and has achieved a turnaround from being a lossmaking company till FY05. With increasing government focus on renewable energy, Jyoti’s business in the domestic and global markets is picking up. It expects to be a Rs 500-crore company in three years and is optimistic of growth in the SHP segment.

A New Dawn...

Solar power

According to various studies, the earth receives more solar energy in just one hour than the world consumes in one year. Unfortunately, today, solar energy contributes only 0.1% of the world’s total energy needs. The key challenge in harnessing solar energy is the efficiency of technology and equipment.

The technology in the sector is still evolving and nearly half a dozen technologies are vying for supremacy. Among the emerging technologies, thin film solar panels and concentrators are best positioned to be commercialised. While solar energy costs are declining, the costs of other sources of energy, including generation and distribution costs, are rising. This indicates grid parity can be reached earlier than estimated.

In the long term, companies are differentiated on the scale or manufacturing efficiencies, access to technology and level of integration along the photo voltaic (PV) value chain. Two promising companies in this sector are Moser Baer and Webel SL Energy. Moser Baer: This is India’s largest and world’s second largest optical storage media manufacturer. The company has now ventured into the less capital-intensive and high-margin business of solar photo voltaic cells (PVC).

With a strategy to offer multiple PV technologies, the company is aiming at bringing down PV electricity costs to match conventional energy price points. In the long run, it plans to set up the world’s largest thin film solar fabrication unit in the country. Its PV business earned revenues of $43 million in FY08, contributing nearly 10% to the total revenues of the company.

It is expanding its crystalline silicon capacity from 40 mw to 80 mw. The company’s thin film project facility is nearing completion and is on track to raise its capacity to 180 mw by FY09. Webel SL Energy: This is a leading manufacturer of solar PVC and modules in India.

It is one of the fastest growing manufacturers of solar PVC in Asia (outside Japan). The company has an installed capacity of 10 mw and intends to grow to 40 mw by FY10. Rising silicon prices are pushing up its raw material costs, affecting margins. To combat this, Webel is investing in technology and forward integration into raw material production.

Biomass

Renewable energy can be extracted from biowaste arising from trees, crops and garbage. This energy is released either by burning biomass in a controlled environment or converting it to other usable forms of energy like methane gas, ethanol or bio-diesel.

The bagasse obtained as a by-product by the sugar companies is used to generate power, which is either consumed internally or sold commercially. Most sugar mills now use molasses, another byproduct, to produce ethanol, which is an alternative transport fuel.

In India, leading sugar companies like Bajaj Hindustan, Balrampur Chini and Bannari Amman are actively into co-generation of power and manufacture of ethanol. India’s largest sugar company, Bajaj Hindusthan,earns 15% of its revenues from nonsugar businesses like ethanol and power generation. It intends to earn 35-40% of its revenues from value-added and non-cyclical business.

It expects exportable surplus from its co-generation units to cross 100 mw in the sugar season, which will start in November ’08. It generated around 80 mw a year ago. For Balrampur Chini, power co-generation contributes more than 15% to the company’s total revenues and is a major driver of profit growth. In view of the recent capacity expansions, the total saleable co-generation capacity stands at 126 mw.

Besides the co-generation of power, sugar company Bannari Ammanhas also ventured into wind power generation while de-risking its business model. Power generation contributes more than 20% to its total revenues. Equipment suppliers like Praj Industries, Triveni Engineering and Thermax are yet another set of companies associated with bio-mass energy. They are leading suppliers of equipment to companies in this sector.

Praj Industriesis one of the largest suppliers of processes and systems to companies manufacturing ethanol, biodiesel and distillery industry. The ethanol business contributes 85% of the order book of the Rs 700-crore company. Praj is involved in R&D to make breakthrough cellulosic technology for ethanol. Triveni Engineeringmanufactures steam turbines, high speed gears and water & wastewater treatment equipment. It earns 40% of its revenues from its non-seasonal high-margin yielding business of steam turbines and co-generation of power.

Thermaxis a leading manufacturer of engineering equipment like boilers and heaters, absorption cooling, power and cogeneration systems and water and wastewater solutions among others. Around 80% of its revenue comes from its energy business. So,take your pick... join the ‘Go Green’ movement and save the planet.

Sex at 70!

Men and women in their early seventies are having sex more often and enjoying it more than their counterparts three and four decades ago, according to a Swedish study. Septuagenarian women in particular expressed satisfaction with their amorous activities, suggesting they may have benefited more from the loosening of sexual mores.

Despite an array of literature on the sexual habits and attitudes of younger adults, very little is known about what happens between the sheets for healthy men and women aged 70 and above.

Previous research has tended to focus on what goes wrong, sexually speaking, which has created the impression that the sex life of older people is dismal or non-existent. This is not true, according to Nils Beckman, a doctoral candidate at the University of Gothenburg.

"Our study shows that most elderly people consider sexual activity and associated feelings a natural part of later life," he said. Compared to the same age group in 1971, nearly twice as many married female septegenarians reported having sexual intercourse in 2001 and a sharply higher percentage said they "always or usually" experienced orgasms.

And while more than 10 per cent of women interviewed 40 years ago had never had sex at all, by century’s end that percentage had dropped to 0.4 per cent. For men, too, sex at 70 on the cusp of the 21st century seemed to bring more pleasure than for older men of a previous generation.

But the news was not totally good. More men in 2001 also complained of low or no satisfaction, perhaps reflecting a cultural shift in openness in talking about sex. And while the number of men reporting erectile dysfunction dropped, a higher number of men said they had ejaculation problems. The rate of premature ejaculation did not change.

Beckman and colleagues studied attitudes towards sex in later life based on interviews with Swedish 70-year-olds at four different points in time: 1972, 1977, 1993 and 2001.

The study is published in the British Medical Journal. "The implication is that a generation’s sexual change - perhaps linked to the sexual revolution of 1965-75 is evident in this latest cohort of 70-year-olds," Peggy Kleinplatz, a professor at the University of Ottawa in Canada, wrote in a commentary in the journal.

Cook to seduce your lady love!

It is often said that the way to a man’s heart is through his stomach, but now, it seems tables have turned, for a new trend has hit male society called Gastrosexual – which implies that increasing numbers of men are taking up cooking in a bid to seduce their ladies.

The boom has been fuelled by the popularity of superstar chefs Gordon Ramsay and Jamie Oliver, who have helped make cooking a macho pursuit.

Chef John Meredith, who runs James St Cooking School, in Brisbane’’s Fortitude Valley, said half of the people booking his classes were men.

"It’s very much about men wanting to attract the ladies by serving up a special dinner," News.com.au quoted him, as saying.

"They range from the 18-year-old student trying to be a cut-above, to the 59-year-old man who is newly divorced and maybe on the lookout for love again.

"Guys tend to come to the classes in small groups, which makes it less daunting for them, but often they have no need to worry because they turn out to be better cooks than the girls,” he added.

According to UK research, men having the ability to cook is now a key factor in attracting women, along with salary, status, personality and appearance.

The increase in the number of women working full time has also contributed to the rise of the Gastrosexual male.

AustraliaScan social analyst David Chalke said men had been forced to learn how to feed themselves because they were marrying at a later age.

Why not work four days a week?

Converting a five-day work week into a four-day work would certainly result in higher job satisfaction and lower levels of work-family conflict, thus leading to higher productivity, suggests a new study.

Researchers Rex Facer and Lori Wadsworth of BYU’s Romney Institute of Public Management analysed the potential benefits of Utah government’s 4-day work week transition and found that the employees were satisfied with their jobs, and enhanced productivity.

They found that even though four day work week employees work the same number of hours per week as their traditional work-week counterparts, they reported being more satisfied with their jobs, compensation, and benefits, and were less likely to look for employment elsewhere in the next year.

With the four-day work schedule, employees were less likely to report that they come home too tired, that work takes away from personal interest, and that work takes time they would like to spend with family Other studies have linked work-home conflict with low job performance and lessened productivity.

“There are going to be very real benefits for employees, specifically decreased gas cost, decreased commute time (both because they only have to commute four days, but also because they’ll be commuting during off-peak times, so the commute could potentially be shorter each day), and hopefully, improved work-life balance,” said Wadsworth.

Facer and Wadsworth found that more than 60 percent of four-day work week employees reported higher productivity as a result of the 4/10 schedule.

Additionally, more than 60 percent of employees reported agreement that citizen access has improved as a result of the four day work week.

“Policies may need to be adapted to meet local needs,” said Facer.

“Each city has to adapt to balance the very positive feelings the employees have about alternative schedules with the needs of the members of the community,” he added.

One rupee salary due costs company Rs 970,000

The Heavy Engineering Corporation (HEC) in Jharkhand has finally agreed to pay a total compensation of Rs.970,000 to 24 of its employees because it had paid them Re.1 less as salary for as long as 30 years, an official said on Monday.

The affected employees had taken the company to court, fighting a legal battle all these years. However, five of them died during the course of the case and the remaining 19 have retired from HEC.

According to an HEC official, the company had promoted around 500 employees from grade E to grades C and D in 1978 and their salary was increased to Rs.8 per month. The management however, gave Rs.7 per month while implementing the new scale.

The 24 employees moved the labour court, which took up the matter in 1990 and passed a judgement in their favour in 1997. The HEC management then moved the high court in appeal, which upheld the labour court’s verdict.

HEC appealed again to a two-judge bench of the high court. In February this year, the bench rejected the company’s plea.

HEC then invited the employees’ union for negotiations. The union had calculated Rs.1.1 million as dues for 30 years. The company and the union last week finally agreed on a compromise amount of Rs.970,000, the official told reporters Monday.

"After negotiating with the union, we have agreed to pay Rs.970,000 against the demanded Rs.1.1 million to the employees," he said.

"The different amounts the employees will get vary between Rs.9,191 and Rs.60,573, according to the period of work and promotion," the official added.

He said a cheque would be sent to the employees through post and in case of those who have died, their relatives would receive the compensation

RBI: inflation reflects oil prices, demand

The Reserve bank of India (RBI) said on Monday a rise in inflation to nearly 12 percent in mid-July reflected some increase in fuel and raw material prices as well as strong demand.But an increase in state-set petroleum product prices had not kept pace with the rapid rise in global crude prices.

It also said supply side pressures on global food prices did not appear to be abating.

The RBI holds its quarterly review on Tuesday and a Reuters poll of 11 economists showed seven of them expected it to raise its key lending rate, the repo rate, by 25-50 basis points from 8.5 percent.

In its first quarter review of macro and monetary developments, the central bank said the Indian basket of crude rose by 122 percent in rupee terms between February 2007 and June 2008.

The mineral oils index rose just 27 percent in the same period, although freely priced items in the mineral oil group rose 15-104 percent.

"This suggests that pass-through in case of administered petroleum products is still incomplete," it said.

Annual inflation was 11.89 in mid-July and has more than doubled since late February to its highest since the index was made available in 1995 after the government raised state-set fuel prices in June.

The RBI raised the lending rate by 75 basis points in June in two unscheduled moves to clamp down on inflation.

It also raised the cash reserve ratio, the proportion of deposits that banks have to keep with it, by 50 basis points to 8.75 percent to absorb inflation-stoking surplus cash.

The central bank said the finances of the federal government could be pressured by higher government salaries, a cut in petroleum product duties, higher oil and fertiliser subsidies and compensating banks for waiving debts of small farmers.

The cabinet has yet to approve an increase in salaries of government employees but the move is widely expected ahead of parliamentary elections due by May 2009.

The report said a survey of professional forecasters by the RBI in June predicted the economy would expand 7.9 percent in 2008/09, lower than the previous prediction of 8.1 percent.

Asia’s third largest economy has grown at 9 percent or more over the past three years. The central bank expects it to expand 8.0-8.5 percent in the current fiscal year ending in March, which is higher than forecasts by many private sector economists.

Energy drinks fuel aggression in teens

Energy drinks are promoting substance abuse and risk-taking behaviour among college students, according to a new study. Two studies led by RIA Research Scientist Kathleen E Miller, PhD investigated the link between energy drinks and public health concerns like substance abuse and risky behaviour.

"The principal target demographic for energy drinks is young adults aged 18-25, but they’re nearly as common among younger teens," she said." This is a concern because energy drinks typically contain three times the caffeine of a soft drink, and in some cases, up to 10 times as much.

"They also include ingredients with potential interactions such as taurine and other amino acids, massive doses of vitamins, and plant and herbal extracts," she added. In the study involving 795 Western New York male and female undergraduate students, the researchers found that frequent energy drink consumers were approximately three times as likely than less-frequent energy drink consumers or non-consumers to have smoked cigarettes, abused prescription drugs and been in a serious physical fight.

They reported drinking alcohol, having alcohol-related problems and using marijuana about twice as often as non-consumers. They were also more likely to engage in other forms of risk-taking, including unsafe sex, not using a seatbelt, participating in an extreme sport and doing something dangerous.

Among the participants, 39 per cent reported consuming at least one energy drink in the previous month. There was significantly higher consumption by men (46 per cent) than by women (31 per cent).

"Energy drink consumption is correlated with substance use, unsafe sexual activity and several other forms of risk-taking," said Miller. "For parents and college officials, frequent energy drink consumption may be a red flag or warning sign for identifying a young person at higher risk for health-compromising behaviour.

"It is widely, but incorrectly, believed that the caffeine in energy drinks counteracts the effects of alcohol, so students will have the energy to party all night without getting as drunk. "While the combination may reduce perceptions of intoxication, it does not reduce alcohol-induced impairments of reaction time or judgment," she added.

In the second study, Miller looked at energy drink consumption and "toxic jock identity." "For many people, being an athlete is an important part of who they are. Some go a step farther, though, and come to see themselves as "jocks." For them, sport is wrapped up in a larger identity that also emphasizes hyper-masculinity and a willingness to take excessive risks," she said.

Unlike an athlete identity, a jock identity can be considered "toxic," according to Miller, because it’s associated with a wide range of risky or problem behaviours, including problem drinking, sexual risk-taking, interpersonal violence, academic misconduct, delinquency and even suicide attempts.

The study found that undergraduates who consumed energy drinks more often were also more likely to develop a jock identity and to engage in risk-taking behaviours. The first set of results is published online in the Journal of Adolescent Health , while the second appears in the March/April issue of the Journal of American College Health.

RBI faces a tough balancing act

Amid a very tight liquidity scenario and inflation stabilising, bankers feel that RBI may not tinker with the interest rates on Tuesday, while reviewing the monetary and credit policy. However, some economists feel to ensure that inflation does not rise further, RBI may decide to hike key rates.

In fact, RBI is in a dilemma. While steps are needed to contain inflationary pressure, those are not expected to hit economic growth adversely.

According to CMD of a public sector bank, banks are borrowing somewhere between Rs 40,000 crore and Rs 50,000 crore from RBI every day at a rate of 8.5%. He said if the central bank increases the cash reserve ratio (CRR) - the proportion of savings that a bank needs to keep with RBI - even by 0.25%, it will suck out over Rs 8,000 crore from the system, This will further increase the banks’ dependence on RBI for short-term funds to meet their daily liabilities.

RBI has already increased CRR 13 times since December 2006 to reach 8.75% as on July 19, 2008. Since April 1, RBI has increased CRR by 1.25 percentage point leading to an evacuation of over Rs 47,500 crore from the system.

Any further increase in CRR will affect credit availability to the industry. Meanwhile, the government has also expressed its concern over the availability of credit to the industry, which is essential to maintain the economic growth and create employment.

Despite banks increasing deposit rates, the mobilization has increased by only 3.5% as against 4.1% in April-June 2008 compared to the same period last year. This has also affected ability of banks to give credit to the industry.

Demand for credit has grown substantially due to borrowings by oil companies. But, one banker said as lending rates have gone up in the last couple of months, borrowings for productive sectors have almost dried up. The growth in retail credit (home, auto and personal loans) is even worse.

A senior ICICI Bank official said retail credit growth of the bank in 2008-09 will be in the range of 5% only.

Bankers also feel if RBI increases the repo rate, at which it lends short term funds to bank against government securities, the interest rate will further increase. Banks will have no option but to pass on the rate to borrowers. This will further slow down the growth.

However, DK Joshi, chief economist at Crisil, feels that RBI will increase both CRR and repo rate. He said RBI had earlier indicated that it will take harsh measures to contain inflation even if it affects the economic growth.

With inflation around 12%, the Reserve Bank has no choice but to take steps to kill any further pricing pressure. In the current financial year so far, money supply stands at 20.5% as against RBI’s projection of 17%.

Therefore, Joshi said, before inflation shoots up further, as it once happened in May and June, RBI would like to play safe and will increase CRR to tighten the money supply further.

Boost your energy level

“Energy, like the Biblical grain of mustard seed will remove mountains,” so said Hosea Ballou.

The most severe limiting factors when you are working toward a better life is your level of energy. You can reduce the number of times you feel too tired to accomplish your goals.

Here’s how you can:

Try to schedule playful breaks into your workday: listen to a favourite song, plan a fun weekend or evening; browse through your favourite catalog; fantasise about your next vacation; play with a puzzle or toy; call your best friend; do something that you enjoy or love to do.

Eating a light lunch dominated by protein to ensure afternoon vigour helps to boost your energy level.

Drink plenty of water — at least eight glasses a day.

Fill your diet with plenty of grains, fresh fruits and vegetables. They are a good source of nutrients and energy.

Laugh a lot. Hearty belly laughs stimulate the release of chemicals in the brain that increase well-being.

Exercise briskly at least three times a week, for twenty minutes each session.

Find a healthy pick-me-up that provides needed sugar to your system mid-afternoon when most people’s blood sugar drops.

Make sure you do enough deep breathing during the day to keep sufficient oxygen in your blood. Three or four times during the day, take eight deep breaths and hold each one for a long time. Continue the deep breathing if you notice a difference in your energy level.

If you get tired in the late afternoon, take a refreshing catnap. It will relax your mind and body.

Try to get the right amount of sleep — you know you’re on track when you can awake simultaneously with the ringing of your alarm clock.

Indian economy to overtake UK in 10 yrs

Economic forecasts predict that India will overtake the UK and become the world’s fifth largest economy within the next 10 years, the third largest behind China and the US by 2025 and the second largest economy after China by 2050.

The number of Indian companies in the West Midlands in UK has doubled since 2006. This year saw the biggest deal of all-Tata’s acquisition of Jaguar and Land Rover, which made it the largest foreign investor in the region, employing over 13,000 staff. In a bid to forge more ties, an action plan has been put in place to seal new business and academic ties between the West Midlands and India.

Two-way trade between the UK and India is today worth $ 8.7 billion per year.

Who has the slimmest waist?

Now here’s a skinny quiz for you. Do you want to know who has the slimmest waist? Meat-eaters, fish-eaters, vegetarians, or vegans? Well, well! According to a new study, vegans do. Vegans are vegetarians who not only forego eating meat, fish, or fowl but also all foods derived from animals.

However, the reason vegans tend to be slimmer may lie in what they do eat – fibre. Lots of it. And that’s a habit you can easily duplicate. Fibre makes you feel full longer, and it seems to inhibit fat absorption. Broccoli pizza on whole-wheat crust, anyone?

Although fibre seems to help limit fat deposits, a meat-laden diet does just the opposite – it actually can cause an increase in body fat, especially in the belly, one of the worst places for it to accumulate in terms of both your health and your self-image. In one cross-sectional study, meat-eaters had the highest body mass indexes (BMIs), the height-weight ratio that’s the gold standard for separating healthy weights from weights that are too high or too low. Fish-eaters and vegetarians had lower BMIs than people who regularly ate meat, and vegans tended to have the lowest indexes of all.

One possible explanation is that high-protein diets may change the hormonal makeup of the body, altering body chemistry in a way that increases fat around the abdomen. Whatever the reason, the point is clear – you have yet another reason to up your intake of fibre-rich fruits, veggies, and whole grains – a smaller waist.

Evaluate returns while investing

Loading is a charge which an asset management company (AMC) of a mutual fund may collect on entry or exit from a fund. A load is levied to cover the up-front cost incurred by the AMC to sell the fund. It also covers one-time processing costs. A load is the fee paid upfront to a AMC, and brokerage , to invest the funds by the mutual fund.

There are expenses to be paid to convert cash one invests in stocks or bonds. In addition to that, a fund needs to pay commission to the broker who brought the business. The load is charged normally as entry load and exit load. Entry load is charged at the time of entry or investment, exit load is charged at the time of sale. Most of the fund companies waive the exit load after a certain period of holding.

One should review fees, including those of no-load funds, before investing. Even small differences in fees can translate into a large difference in returns over time.

An entry load is an additional cost that an investor pays at the point of entry. Assume that your proposed investment is Rs 20,000. Also assume that the current NAV of the fund is Rs 12 and that the entry load is Rs 0.50. Then, you will receive 10,000 divided by 12.50, that is 1,600 units.

An exit load is levy that an investor pays at the point of exit. This is levied to dissuade investors from exiting the fund. Assume that the current NAV of the fund is Rs 15 and that the exit load is Rs 0.50. Now, if you sell 1,600 units, you stand to receive 1,600 multiplied by 14.5, that is, Rs 23,200.

Funds usually charge an entry load ranging between one and two per cent. There are some funds which don’t charge any fee for initial investments. Usually, index funds, bond funds and liquid funds provide this benefit. These funds do not charge any entry or exit loads. A no-load fund may charge fees that are not sales loads, such as purchase fees, redemption fees, exchange fees, and account fees. Noload funds will also have operating expenses.

A mutual fund provides details of how much you should expect to pay each year in loads and operating expenses. For example, assume you invested Rs 10,000 in a mutual fund a year ago. You paid a two per cent front-end load and the fund’s operating expense ratio was 1.5 per cent. The value of the fund’s portfolio increases 10 per cent in the first year that you own the units. Since the fund took Rs 200 upfront in transaction fees, your net initial investment was Rs 9,800. A year later, your initial investment is actually worth Rs 10,780, for a one year rate of return of 7.8 per cent. Next, deduct the 1.5 per cent in operating expenses using the midpoint value of your units during the year - Rs 9,800 plus Rs 10,780 divided by 2, or Rs 10,290. Multiply that amount by 1.5 per cent to get Rs 154. If you subtract Rs 154 in operating fees from the value of your fund units, your after-fee return is Rs 10,626, for a one year rate of return of 6.26 per cent. So, the returns are 6.26 per cent instead of 10 per cent. As this example shows, loads and fees of a mutual fund can take a substantial chunk from their investment returns.

Mutual funds are required to show their fees and loads. The investor should compare the load charges - both entry and exit - before deciding to invest in a mutual fund. The NAV should not be the sole criterion . The entry and exit loads can have a substantial impact on the returns to the investor.

Top food myths revealed

Think ’light’ coloured olive oil is lighter in calorie content or eating carbs can give love handles? Well, in that case, you need a reality check, for all these notions are mere myths, say two Sydney based dieticians. Susie Burrell and Karen Fischer, nutritionist and author of The Healthy Skin Diet , have come up with a list of the top 10 food myths that people have been following blindly for years.

According to Burrell and Fischer, the top 10 food myths are:

Oysters are an aphrodisiac
Oysters don’t have a secret chemical agent that boosts your sex drive. Though they do have zinc, which is beneficial for men, won’t do any good to the sex life.

"Zinc is linked to the sexual hormone but does not have an effect on libido. However, some people say oysters are an aphrodisiac because they look like parts of the female anatomy," Watoday.com.au quoted Burrell, as saying.

Long-life milk is full of chemicals
Milk does not need preservatives to sit on a cupboard shelf for months, for it’s preservation secret lies in the application of high-temperature technologies.

Fischer said: "Milk is heated to 135 degrees then quickly cooled. That makes ’bad’ bacteria perish, but all the minerals are retained. So long life milk is great as a stand by if you run out of fresh milk."

Light olive oil is "light" on calories
The "light" refers to the colour, not the fat content.

It is not safe to refreeze meat after it has thawed
It is actually safe to thaw and refreeze meat, but on needs to be very careful dong that. The meat must be thawed in a fridge at five degrees or less. At this temperature, most bacteria responsible for food poisoning cannot grow and those that can, do so very slowly and are killed by subsequent cooking.

Carbohydrates cause you to gain weight
Carbohydrates do not cause weight gain unless they contribute to excess calorie intake. The same holds true for protein and fat. Burrell said it’s all in the selection.

"The trouble with carbs is they can be easy to overeat. If they are highly processed, like white flour and pasta, it is
turned into sugar quickly and means you don’t stay full for long. So you need to choose the right sort," she said.

Fresh veggies are better than frozen
A large number of frozen veggies are just as nutritious, or in some cases even more nutritious, than fresh ones. Frozen vegetables are usually processed within hours of picking, which prevents the loss of many nutrients during the freezing process, therefore they keep their high vitamin and mineral content.

The healthier option at a restaurant is a vegetarian dish
This depends on the dish, but some vegetarian meals are high in fat, especially if they’re fried or are made with cheese or pastry.

Burrell said: "The problem with vegetarian meals is that cream-based sauce or butter is used to make them tasty. If you choose a pasta or risotto it has to be very plain tomato sauce to be the low-fat option."

It’s best not to eat after 7pm
It’s not the time but the type of food that you eat that counts. Eating more calories than you burn will make you gain weight. But late snacking can push your calorie intake over the edge.

Fischer said: "Eating just before you go to bed can hamper sleep patterns in that it messes with your insulin. I’d suggest you don’t eat for two to three hours before bed."

Fat-free equals calorie-free
Binging on fat-free foods may ward off the guilt-factor linked with gaining weight, but a lot of fat-free foods have the same amount or even more calories than regular versions.

Shop at midnight!

Wanna know what our shopaholics do at the midnight hour, when all of us are tucked in bed? Well, dahlins, they venture out shopping! A store had its midnight sale on Thursday (yes, this event officially began at 11.30 pm) and despite the odd hour and the heavy showers, a bunch of people did come! Sanjay Vakharia of the store was a pleased man indeed, as he spoke about how the masses flock to sales, but a midnight sale is a signature style statement.

While Siddharth Kannan took to the jeans section with interest, Shonal Rawat took a special liking for some tops. Her boyfriend Deepak Bajaj meanwhile caught up with Rajev Paul. Karan Wahi was the next to come by; he brought two of his friends Sonal and Hemani along to help him pick up a pair of denims. Talk about friends for all seasons and for all reasons! ‘Shop till you drop’ took an altogether new meaning at this midnight affair!

Security fears worry Pakistani Hindus

The Hindu community in Pakistan has expressed concerns at the increase in incidents targeting the life and properties, including places of worship, of the Hindus in the Islamic nation.

The Pakistan Hindu Council (PHC), a representative body of the minority community in the country, expressed concerns over Hindus being target of rising number of robberies in Sindh province.

The Council demanded that the federal Government in Islamabad take immediate measures to prevent such incidents and protect the minority community in the country.

Large number of Hindus took part in a protest in Karachi against the recent robbery in Jacobabad where armed men entered a Hindu temple and robbed some 350 Hindu women of cash and jewelry worth millions of rupees.

Former Sindh lawmaker Dr Ramesh Lal accused the the police and other law enforcement agencies of having failed to provide security to the citizens, particularly the minorities.

"The dacoits have robbed valuables worth approximately Rs 70 million and after the recent incident in Jacobabad, members of the minority communities, especially women, are even afraid to go their religious places," PHC Secretary General Hari Motwani was quoted as saying by the Daily Times newspaper.

"Therefore, we demand that the Government immediately arrest the dacoits and ensure safety measures for minorities, said Motwani, adding that the incident took place in broad daylight and yet the police were unable to prevent it.

"The robberies, coupled with the kidnappings of Hindus in the northern districts of Sindh, have created panic and insecurity amongst the minorities," PHC President Raja Assermal Manglani said, adding that the government needed to ease their fears.

Mukesh Ambani, Deshmukh in Indian Mujahideen's e-mail

The e-mail of Indian Mujahideen, which has claimed responsibility for the terror strikes in Ahmedabad, has warned of dire consequences to some politicians and business heads prompting authorities to increase their security.

In its 14-page email, the militant outfit, believed to be a shadow amalgam of the banned SIMI and Pakistan-based Lashker-e-Taiba (LeT), warned Maharashtra Chief Minister Vilas Rao Deshmukh and his deputy R R Patil of dire consequences over the alleged targeting of minority communities in that state.

"We wonder at your memory. Have you forgotten the evening of July 11, 2006 so quickly and so easily?" the e-mail warned.

Reliance Industries Limited head Mukesh Ambani also figured in the e-mail in which he was asked to ‘think-twice’ before "usurping and building a citadel on a land in Mumbai that belongs to the Waqf board.

"...lest it turns into horrifying memories for you which you will never ever forget."

There was a warning for the UP Bar Council too for their repeated stand of not taking up cases of Muslims.

For the high-profile VIPs and VVIPs on Central security list, preventive measures have already been placed and for those on state list, authorities concerned have been asked to take up necessary steps, sources in the Union Home Ministry said.