Showing posts with label Consumer. Show all posts
Showing posts with label Consumer. Show all posts

Chocolate printer


A chocolate teapot is finally a reality after scientists invented technology that allows people to design their own 3D objects which can be reproduced in chocolate.
Researchers hope an online retail business will host a website for users to upload their designs for 3D printing and delivery.
The project is being led by the University of Exeter in collaboration with Brunel University and software developer Delcam.


Using new digital technology the printer allows people to create their own designs on a computer and reproduce them physically in three dimensional form in chocolate.
3D printing is a technology where a three dimensional object is created by building up successive layers of material. The technology is already used in industry to produce plastic and metal products, but this is the first time the principles have been applied to chocolate.
The research has presented many challenges. Chocolate is not an easy material to work with because it requires accurate heating and cooling cycles.

These variables then have to be integrated with the correct flow rates for the 3D printing process. Researchers overcame these difficulties with the development of new temperature and heating control systems.

Research leader Dr Liang Hao said: 'What makes this technology special is that users will be able to design and make their own products.

'From reproducing the shape of a child's favourite toy to a friend's face, the possibilities are endless.'

'It could be developed to help consumers custom-design many products from different materials, but we've started with chocolate as it is readily available, low cost and non-hazardous.


'There is also no wastage as any spoilage can be eaten.'

Dr Hao added: 'Eventually we may see many mass-produced products replaced by unique designs created by the customer.'

EPSRC chief executive Professor Dave Delpy said: 'This is an imaginative application of two developing technologies and a good example of how creative research can be applied to create new manufacturing and retail ideas.

'By combining developments in engineering with the commercial potential of the digital economy we can see a glimpse into the future of new markets - creating new jobs and, in this case, sweet business opportunities.'

Designer counterfeit is good

 
Designer handbag companies like Louis Vuitton and Prada have been battling against those who make counterfeit copies of their designs for decades.
But a new study suggests they should give up the fight.
A Northwestern University economist has found that sales of designer bags actually rise when sales of fake versions are also increasing.
Yi Qian disputes the theory that every fake handbag that is bought means one less handbag sold by luxury designers.
He argues that counterfeits can act as free advertisement for the real thing, boosting popularity and creating what MIT marketing professor Renee Richardson Gosline has described as a 'gateway' product.
Gosline's theory is that women who buy cheap versions, that quickly fall apart, begin to yearn for the real thing.
She found that within a couple of years, more than half of the middle-class women women she spoke to - many of who would never have considered buying an £800 bag before - actually swapped their counterfeits for authentic items.
In the early 1990s, quality-control problems among food, medicine, and oil-tank producers in China - where most fake bags are manufactured - made headlines around the world. These big stories led to the Chinese authorities cutting back their policing of fake luxury products in favour of sorting out the urgent problems with food and medicine that were making people ill.
 
With policing curtailed, counterfeiting took off in 1995—Qian estimates there was a nearly 100 per cent increase in the production of fakes in just two years.
Sales of mid-range bags fell over the same period but, counterintuitively, their luxury equivalents actually saw an increase in sales as people sought higher quality items.
The link between buying a fake handbag and craving an outrageously-priced real one should be worrying enough for women to avoid purchasing counterfeits altogether.
But there is another, much stronger, argument against  buying cheap versions - they are often made by children in horrible sweatshops.
So if you can't afford LV, it is always best to stick to the High Street.

World food production / World each year is wasted


An average 30-year old who's eaten three meals a day since birth has consumed more than 30,000 meals to date.  Even if you've only eaten half that much you have to admit this: you've let some of that breakfast, lunch or dinner go to waste.
And it turns out we're all to blame for this gut-wrenching fact: 30% of all food produced in the world each year is wasted or lost.  That's about 1.3 billion tons, according to a new report by the U.N. Food and Agriculture Organization.
That's the weight of more than 8.6 million full-grown blue whales, the largest creatures on earth.  That's the weight of more than 2.3 million Airbus A380s, the largest commercial planes in existence.  That's as if each person in China, the world's most populous country with more than 1.3 billion people, had a one ton mass of food they could just throw into the trashcan.
It's almost unfathomable isn't it?
Breaking apart that big number, we find the people with the most money are the ones who waste the most.Per capita, Europeans and North Americans waste between 95 and 115 kilograms of food. Sub-Saharan Africa, South Asia and Southeast Asia waste much, much less – between 6 and 11 kilograms per person.  The takeaway? The developed world wastes 10 times more food than the developing one.

Here's another statistic: all the food that the world's richest countries waste is about equal to all the food that sub-Saharan Africa produces. The numbers: 222 million tons and 230 million tons, respectively. Basically, the waste of the rich could feed much of the African continent.
And these numbers come as we've just been reporting about soaring food prices around the world in the past week.
China reported 11.5% April food inflation year on year earlier this week.
India reported 8.5% April food inflation earlier this month.
South Africa and the U.S. have yet to report their April numbers but year-end forecasts say the former could see up to 15% inflation, the latter could see up to 6% inflation.
A major change of mindset is what is needed.

The U.N. says one of the biggest challenges is helping people get over the perception of food perfection.  Perhaps it's instinctual to rummage through that pile of Red Delicious apples at the market looking for those few, unbruised perfect specimens.  But beauty is only peel deep.  And a fresh fruit that has a bump on it is actually still edible and probably tastes just as good.
The U.N. also suggests that charities work together with markets to collect food that's unsold and about to pass its expiry date.  It can be redistributed or cooked up at food kitchens for the needy and homeless.
A third suggestion: simply don't buy more food than you need.  You're more likely to not finish it, you'll end up throwing it away and you'll have wasted your money.
And my own personal tip: if I eat at a restaurant and can't finish it all, I ask for a doggie bag. I used to be a waiter years ago and will never forget the amounts of food I saw left on the table after the bill was paid.
There's no reason to waste food.  It's up to all of us to use our common sense to eat and shop just a bit wiser. Remember, we've got 1.3 billion tons of food on our plate to clean up – each year and counting.

A coffee shop with topless waitresses / coffee shop cafe



A coffee shop with topless waitresses, which has caused a storm of protest in a small town, has been forced to close after it put up a 'boobies wanted' sign.
Grand View Topless Coffee Shop in Vassalboro, Maine, hit the headlines when it opened in 2009, offering to serve customers semi-nude.
And despite a wave of protest from local campaigners in its home town of fewer than 5,000 people - and one high profile arson attack - the shop had until now, managed to keep business going.

But the controversial store's topless waitresses will finally have to get dressed and leave after town officials ruled that it has been putting up signs illegally.
Bosses insist the order has nothing to do with the shop's nudity policy - or the fact that the signs offered a topless car wash and advertised: 'Boobies wanted'.
They say simply putting up the new signs without permission violated zoning rules.
Donald Crabtree, the owner of Grand View Coffee Shop, which uses topless male and female waiters, said he had given up after fighting to exist for two years.
'I wanted to have some fun; I wanted to see people smile,' he told local paper the Maine Morning Sentinel. 'I started the topless coffee shop to do that, and it did. But now my smile's gone.

'I've fought that fight for more than two years now and no matter how hard I try to make this work, somebody sabotages me.'

'These people are bound and determined to shut you down. I'm singled out, but I'm just trying to make a living like everyone else.'
The shop opened in 2009 to a storm of protest from its rural community and prompted Vassalboro and many other communities to bring in rules to regulate where and when sexually oriented businesses could operate.
A few months later, in June 2009, the store's original location was burnt to the ground.

The man charged for being responsible for the arson, Raymond Bellavance Jr., who was in a relationship with one of the waitresses, is still awaiting trial.
Crabtree, 43, who has since run the business from a trailer, finally decided to close down after he was forced to take down the nude car wash and 'boobies wanted' signs.


The town's code officer had given him a week to remove them or face legal action.
The local Reverend, Steve Rogers ,of the Vassalboro Baptist Church, said he was glad the 'upsetting' business was to close.
He said: 'I hate to see a business disappear, but that's really not the type of business Vassalboro needs.

'It's had an effect on the community and upset people. I think the majority of the town is going to be very pleased it's shutting down and hopefully whoever buys it will run a more family-friendly business.'
Others were not so pleased. Regular customer Herman Jellison, 47, of Whitefield, said he will miss the shop.
'I don't blame him,' Jellison said of Crabtree. 'This town's been harassing him since he's been here. People really need to mind their own business.'
Dan Feeney, Vassalboro's code officer, went to inspect the offending signs on April 26 after receiving complaints.
But he insisted the order was made because the signs were bigger than Crabtree's local permit allows.
'It's not what's on the signs; it's the signs themselves,' Feeney said.

Fashion leggings / Shiny leggings



Whether it's forgetting  to wax or having a 'fat'  day, leggings hide all manner of sins.
But the army of women who rely on them could be in for a nasty shock now that it's time to peel them off for summer.
Experts have warned that leggings can make the muscles 'lazy' and  can result in flabby stomachs and wobbly legs.
The claim will alarm thousands for whom leggings have become a  wardrobe staple.
Physiotherapist Sammy Margo said: 'Leggings feel good and look great and I am as addicted to them as anyone, but there is a downside.
























'They hold in and support the quadriceps (thigh muscles), buttocks and core muscles in your tummy,  and do the job the muscles are supposed to do.
'As a result, the muscles are allowed to relax and switch off, so when we reveal our bodies for the first time as summer approaches, they are not as svelte or firm as they otherwise would be.'
The problem is further exacerbated because wearers' bare legs and  midriffs are 'out of sight, out of  mind', so women are less inclined  to take steps to tone up during the winter months.

Mrs Margo said: 'Leggings hide the bits of our bodies we don't like, such as the cellulite on our legs or our "muffin top", so we are able to ignore the problem and we are less motivated to exercise these parts.'
Celebrity advocates of leggings include Michelle Obama, Gwyneth Paltrow, Katy Perry and Victoria Beckham, who even launched her own designer range.
Lycra leggings made a fashion comeback in 2006 and have remained popular ever since.
They are now available in virtually every style and colour, including wet-look, denim, animal print and neon.






















But perhaps today's news marks the beginning of the end for this particular fashion fad.
The good news is that women can apparently regain the strength in the muscles that have been made lethargic by their leggings through a few simple, daily exercises.
They include walking with ankle weights, clenching and releasing the stomach and buttocks throughout the day – and even using a piece of string to aid core exercises.

Mrs Margo, a chartered physiotherapist based in north-west London, explained: 'Suck your stomach in as far as it will go then breathe out about halfway. Tie a piece of string around your stomach at that point and keep it there all day.'

The idea is that by holding in  the stomach – using the string  as a guide to tell you when you are not holding it in enough, you work the muscles.
Mrs Margo said it takes about  six weeks for the muscles on the  legs and stomach to noticeably  tone up from the day you start to exercise them.
She added: 'So people should already be weaning themselves off their leggings if they want to look their best in time for summer. The sunny weather should have helped them to ditch them a bit earlier this year and get a head start.'


BMW in plans to a joint-venture with India’s Hero group

The premium bike market in India is very small and an attractive segment. BMW is in plans to make a joint-venture with India'a Hero group in order to enter the high-end motorcycle segment in the market. BMW launched its F650 model in collaboration with Hero earlier and was not much successful.

BMW is analysing India's high-end and premium bike market. The company has plans to introduce its Motorrad range of super bikes in India. BMW Motorcycle is having a look at the market. As soon as it sees potential for a viable market entry for sustainable growth, the company would come into India. The bikes of the Motorrad range may cost above Rs 10 lakh in India. BMW Motorrad is a German brand for motorcycles, which are in production since 1923.


A BMW motorbike

The premium bike market in India is very small and an attractive segment. BMW is in plans to make a joint-venture with India'a Hero group in order to enter the high-end motorcycle segment in the market. BMW launched its F650 model in collaboration with Hero earlier and was not much successful.

BMW is analysing India's high-end and premium bike market. The company has plans to introduce its Motorrad range of super bikes in India. BMW Motorcycle is having a look at the market. As soon as it sees potential for a viable market entry for sustainable growth, the company would come into India. The bikes of the Motorrad range may cost above Rs 10 lakh in India. BMW Motorrad is a German brand for motorcycles, which are in production since 1923.

 

BMW K1600GT Adaptive Lights

With BMW motorcycles being epitome of motorcycle technology with features like quickshifters, traction control and integrated ABS, its no stranger of them being the first in the world to put an adaptive headlight feature on their bike.


Adaptive headlight or the headlights that turn according to the lean angle or the road curve is not new in the automotive world, with many car makers already featuring similar technology in their cars.

The problem with bikes is – to have a road-legal headlight, the top half of the beam has to be cut off using a suitable reflector so the oncoming drivers don't get blinded with the glare, giving a flat lighting horizon when the bike is vertical. But when bike is taken around corner and is leaned over, the lit-up area tilts with the bike and the rider is unable to see through the corner.

Koenigsegg will be in India soon


Swedish supercar maker, Koenigsegg will be in India soon. The company that came into being in the 1990s and managed to survive despite the presence of old-time big corporates in the business has now set its sights on India.

The car, that will come to India is the Agera. Unveiled last year in Europe, the Agera will come to India through Interglobe Enterprises. If the name sounds familiar, these are the guys behind Indigo Airlines. With eyes set on the Indian luxury automotive market, they have tied up with a number of Automotive brands including Koenigsegg.

Interestingly, the Agera was voted as Hypercar of the Year by our Brit counterparts in the annual TopGear Awards 2010 Issue last December. We'll keep you posted on the more Koenigsegg Agera details including its price (hint: it's not cheap), and some very interesting bikes, as soon as possible.The Koenigsegg Agera has been officially priced at Rs. 12.5 crores.

Ashok Leyland in joint venture with Nissan


 
Hinduja group flagship Ashok Leyland in joint venture with Nissan rolled out its first light commercial vehicle (LCV) – Dost – at half the envisaged investments in the project, even as both partners are mulling over the possibility of expanding the scope for the JV to make vans.

Ashok Leyland and Nissan had signed three JV agreements, one each for manufacturing, technology and power train essentially covering designing and developing a range of LCVs for India and abroad. The cumulative investments for all three ventures was projected at Rs 2300 crore including the setting up of a greenfield manufacturing unit in Oragadam, near Chennai.

The first LCV –– a 55hp, three cylinder turbo charged common rail direct engine mounted 'Dost' was unveiled on Tuesday. "We will launch the vehicle in a few months from now," Sumantran said.

Agency reports quoted Andy Palmer, senior vice president at Nissan as saying that both partners were exploring the possibility of extending the JV to manufacture multi-purpose vehicles like vans. "One year should be a reasonable period (to launch multi-purpose vehicles )," he said.

amul to expand milk territory


In a strategic move aimed at grabbing a larger share of the growing demand for milk in the country, Amul's parent Gujarat Cooperative Milk Marketing Federation (GCMMF) has, for the first time, gone beyond its Gujarat boundary and procured milk from other states as well.

Over the last six months, GCMMF, which is the largest distributor of milk in the country, has procured 7-8% of its milk from states like Maharashtra, West Bengal, Bihar, Haryana and Rajasthan. "We would like to bring farmers from other states into our fold. Earlier, we used to cater to the demand of the entire country from Gujarat alone. Now we feel the need to procure milk from other state cooperatives too. Demand is growing rapidly and we want to tap into this growth," R S Sodhi, managing director, GCMMF told TOI.


Out of the total average of 93 lakh litre of milk procured daily, GCMMF sells 34 lakh litre outside Gujarat. Earlier, most of it was procured from Gujarat through its 30-lakh producer network. GCMMF pays around Rs 400 per kg to farmers for milk. Considering the heat from competition and newer regional players entering the field, Amul feels it would be in the best interest of the cooperative to tap into farmers from other states through the cooperative structure. As a result, it also gains from reduced transportation costs.


Sodhi said the cooperative is witnessing a 20% growth in liquid milk annually. The growing demand, despite the fact that milk prices had gone up a couple of times during the last one year, is because of improved household incomes. "There is growing prosperity even in smaller towns. This is why we have decided to expand into 3,000 more towns to increase the reach of non-milk products like milk powder, butter, cheese, ice cream and butter milk over the next 6-7 months. When there is rise in income of a household, the first category which they spend more on is foods," said Sodhi.

The cooperative has set a target of hiring 200 super stockists in those 3,000 towns to expand its reach. By expanding its rural reach, GCMMF expects to clock a 20% growth in non-milk categories which have an annual turnover of Rs 5,500 crore. GCMMF is targeting a turnover of about Rs 10,000 crore in the current financial year.

EBay the online auction site / ebay buying

EBay has agreed to pay $2.4 billion for GSI Commerce, an online retail and marketing company, in a move that could help the online auction site compete with Amazon.

The purchase of GSI "will significantly strengthen our ability to connect buyers and sellers worldwide," John Donahoe, EBay's president and chief executive, said in a statement. "Combined with EBay Marketplaces and PayPal, we believe GSI will enhance our position as the leading strategic global commerce partner of choice for retailers and brands of all sizes."

GSI works with more than 180 retailers and brands to underpin their online retail operations, the company said.

"Technology is changing how consumers shop, and retailers and brands are changing how they compete," Donahoe said. "With EBay, PayPal, GSI and our global platform capabilities, we are focused on delivering new ways for retailers and brands of all sizes -- from sole proprietors to large merchants -- to drive innovation, engage customers and help people shop anytime, anywhere and on any device."


The current leading online retail site is Amazon, which sells products through Amazon.com and mobile apps on smartphones and tablets. Most recently, Amazon has gotten into the business of selling apps for Google's Android operating system through its Amazon Appstore.

GSI's customers include brands such as Adidas, Calvin Klein, Hewlett-Packard, Mattel and sports leagues such as Major League Baseball, the National Basketball Assn. and the NFL. The Pennsylvania company receives and manages online orders, processes payments, maintains retail websites and handles some customer care services.

Under the deal, EBay would sell off GSI's licensed sports merchandise business and 70% of its ShopRunner and Rue La La businesses. ShopRunner is a members-only shopping website; Rue La La is an invitation-only website that offers daily discounts.

"EBay believes these businesses are not core to its long-term growth strategy," the company said of ShopRunner and Rue La La. "These assets will be sold to a newly formed holding company, which will be led by GSI founder and CEO Michael Rubin."

Rubin started GSI about 10 years ago and was recently featured on the CBS TV show "Undercover Boss."

EBay said it expects the deal, which is to be financed with a combination of cash and debt, to close by the end of the third quarter. Federal regulators and GSI shareholders have yet to approve the deal.

digital radio sets / motorola digital radio


India's public safety system and network expansion is set to double every three years, especially, with the arming of police with digital radio sets, said a senior Motorola executive here.

"We are experiencing strong demand for radio-based systems from India's police force as well as private sectors such as oil and gas industries, coal mines and industrial production centres," said Balbir Singh, vice president, sales and operations at Motorola Solutions Asia Pacific.

The growth is driven by rising security concern across the country, Singh said while projecting more than double-digit growth for Motorola's digital radio-based communication systems in India.

These radio sets are more effective in allowing communication between various locations and command centres, helping the police manage any emergency, he said in Global Security Asia 2011 conference and exhibition being held in Singapore from March 15-17.

On the private sector, Coal India has recently selected Motorola systems to manage its mine operations, he said.

"Moreover, Indian enterprises are very fast in adopting technologies and we believe the Indian market will leapfrog in taking on the best digital systems, leaving analogs aside," he said.

"We have been leading the radio-based communication market in India for four decades and have now established a working relationship in supplying handsets to police.

We also provide training to the police on the effective use of handsets," he said.

Besides the radios, Motorola has a wide range of communication sets in India, a market being served for more than 40 years, Singh said.

Going forward, Singh sees Indian Postal Services and Courier Services using computers for deliveries in rural areas.

"Rural India is a huge market where the postman will be using mobile computers to serve the people," he pointed out.

According to Singh, Motorola's Indian operations were fully supported by India's software engineers who are involved in designing the software and setting up network for the radio sets.

Motorola also operates its biggest research and development centre in Bangalore, software programmes from which are used for its systems globally, according to Singh.

Besides the domestic consumer market, the country eventually would emerge as a major exporter with corporate India collaborating and merging local and international technologies in products for the global markets, he said.

Indian consumers behaviour


Indian consumers are lapping up high-end electronics, mobiles and durables like never before. Not afraid to shell out the moolah, consumers are going all out for top-of-the-line products across categories.

Leading the pack are smartphones, tablets, high-definition televisions, frost-free refrigerators and split air-conditioners which have grown as much as 80% annually. So while sales of flat-panel televisions registered an 84% growth, split air-conditioners (AC) grew by 62% and smartphones grew by 40% last year.

Durable majors like LG, Samsung and Godrej are now drawing around 40% of their overall turnover from these premium products. Even handset manufacturers like Nokia have upped their ante with a slew of launches in the high-end price range of Rs 15,000 and above to tap this market which grew 40% last year.

Industry players say today's consumers are flexible on their budgets and with the increasing penetration of modern retail these products have got the desired push. "Premium categories are leading the segments linked with early technology adoption and higher disposable incomes of Indians, which is helped by their propensity to spend," said R Zutshi, deputy MD, Samsung India. The Korean durable major clocked a growth of 90% in flat panel televisions in 2010 and is expecting 100% growth this year, just like the other major players in this category, driven by the growth in high-definition (HD), LED and the 3D segments. This year flat panel TVs are expected to double and touch the 5 million unit mark. HD televisions currently constitute 15-20% to the overall sales of flat panel televisions.

The change in consumption pattern has also meant that companies have re-oriented themselves to suit this increasing demand. Over the last two years, LG has tweaked its positioning from being a mass brand operating on competitive pricing platform to one which is laying focus on premium products. "Today the average price points for our products have gone up considerably as consumers are now willing to pay a premium for quality," says YV Verma, COO, LG Electronics India.


High-end flat panels of 42 inch and above contributed 32% to LG's sales last year while 30% of the company's washing machines sold were front loading. Like Samsung, LG, too is looking to clock a100% growth in flat panel display over last year. In fact, the air-conditioning market boasts of as much as 70% split ACs today showing the acceptance of these products.

The country's largest mobile handset maker by market share, Over the last six months, Nokia has introduced as many as seven new models in the top-end segment. The smartphone market with a price point of Rs 15,000 and above is estimated to be around 3 million units annually. "The growth in this segment is one of the fastest and, therefore, we will continue to make our investments here," says Viral Oza, head - activation, media and online marketing, Nokia India. Companies are also banking on consumers increasingly looking to upgrade to high-end and lifestyle products. Says George Menezes, COO, GodrejAppliances, "Indians are now upgrading even if there is no need to do so and what has helped them is the fact that today the gap between mid-tier and the top-end products has come down considerably."

The growth in the fully automatic washing machines and frost free refrigerators have been much lower but then historically the growth in this two product segments has been low.

Retail banking in dubai

Customers may soon find it easier - and cheaper - to move between banks following new retail banking regulations announced by the UAE Central Bank, but limits on personal loans will be ineffective without the full credit history of customers, said industry officials.
With early settlement fees for loans now pegged at a maximum of one per cent - instead of the five per cent charged by many banks - industry experts said it may precipitate a "race to the bottom" with more personal loan buyouts happening as customers go for the best rates and lowest charges.
"For sure, people who are thinking of moving banks will be encouraged to do it," said Zaid Al Kamhawi, Chief Business Officer for Dubai-based Emcredit, the UAE's first credit bureau.
Cap on personal loan
On February 23 the UAE Central Bank published regulation No. 29/2011, setting limits for fees and commissions charged on customers. The new rules also set limits on personal loans to 20 times a borrower's salary and caps loan payments at 50 per cent of his/her monthly income.
Problem loans in the UAE surged 36 per cent in December 2010 from a year earlier to Dh44.3 billion, according to a Bloomberg report, quoting Central Bank data.
A loan agent for a local bank who requested anonymity said the new rules will be a "game-changer" as fees are standardised and banks compete on interest rates and service.
Meanwhile, banks such as Emirates NBD are making an 11th-hour effort to woo customers with a "nil downpayment" on car loans, which will be a thing of the past under the new rules.
The regulations - which, according to sources, will come into effect on March 15 - require car buyers to raise 20 per cent of the price tag.
A car dealer said retail sales may be affected in the short term: Up to 80 per cent of about 230,000 cars sold each year are done through financing.
Felix Welch, Director of Sales and Marketing at Arabian Automobiles, dealers of Nissan, Renault and Infinity, said that on the flipside, lenders will be forced to offer more creative financing options.
"It will be more of a challenge [to buy a car] for a lot of people with a lot less cash available," said Welch, adding: "With charges now more transparent, it will lead to more competition and customers will be the biggest winners."
Chris de Bruin, Head of Consumer Banking at Standard Chartered-UAE, said the new regulations will have a minimal impact on them, as most of the policies and pricing in place already comply with the rules.
"It will enforce responsible lending," said Bruin, adding the new rules will boost demand for financial services as trust between banks and individuals improves.
But caps on lending may be ineffective without credit history, said Al Kamhawi.
"Regulations limiting personal loan amounts, if not supported by full credit reporting, might push borrowers to apply and borrow from multiple banks in order to raise the required funds," said Al Kamhawi. He said credit history in the UAE covers only up to 30 per cent of banks and borrowers.
"If this happens, borrowers will face the difficulty of managing multiple lending relationships. This regulation makes it clear that there is a rising need for credit reporting if lenders hope to comply with these regulations."
  • PERSONAL LOANS:   MAXIMUM RATE
Processing fees : 1% of loan amount, Min. Dh500; Max Dh2,500
Credit life insurance: At banks' discretion
Delayed payment penal interest charges : 2% of delayed amount. Min Dh50; Max Dh200
Loan top-up : 1% of the top-up amount; Min. Dh500; Max, 2,500
Deferment of installment : Dh100 per deferment
Early settlement from same bank loans : 1% of remaining balance
Early settlement from other bank loans : 1% of remaining balance
Final settlement from other sources/end of service benefits (EOSB) : 1% of remaining balance
Partial payment from all sources, including EOSB : 1% of the partial payment amount
Loan rescheduling fee : Dh250
Revolving overdrafts fees: Dh200
Loan cancellation fee : Dh100
Relationship fee : Without fees
  • CAR LOANS: MAXIMUM RATE
Processing fees : 1% of loan amount; min Dh500; Max 2,500
Early settlement for car loan : 1% of remaining balance
NOC to traffic department : Without fees
Replacement of existing post-dated cheques with new post-dated cheques : Without fees
Advance payment of installment : 1% of the advanced payment
Change of due date on standing instructions : Dh25
Installment deferment charges : Dh100 per deferment
Loan rescheduling fee : Dh250
Late payment penal interest charges : 2% over agreed rate, Min.Dh50 Max. Dh200
All other items not mentioned above : Without fees

Bank of India between the rupee and the Chinese RMB


Bank of India has become the first Indian bank to offer trade settlement facility between the rupee and the Chinese RMB from Hong Kong. This follows intense persuasion by the China Banking Regulatory Commission, which is trying to gain acceptance of the RMB as an international currency.

"We are the first Indian bank to offer real-time settlement facility in RMB to Indian exporters and importers. It will be save a lot of time because settlement in US dollars usually takes three working days," Arun Kumar Arora, BoI's chief executive in Hong Kong, said during a recent visit to meeting regulators in Beijing.

Indian buyers are at present making payments in US dollars, and they often have to convert rupee into the US currency for the purpose. The US dollars will no more be the intermediary currency as the BOI is offering direct settlement between the rupee and the Chinese money.

Chinese exporters want their money in the local currency, which is regarded as more stable compared to the US dollar. They are also in a position to have their way because Indian buyers do not have an alternative source of low-cost goods, sources said.

The process has been facilitated by a recent memorandum of understanding signed between the Reserve Bank of India and the CBRC to enhance banking relationship between the two giant neighbors.

BoI has opened a RMB with the Bank of China, which will provide real time settlement with buyers and sellers across all provinces of China. The move is part of a campaign by the Hong Kong Monetary Authority, which has persuaded 100 foreign banks to enter into arrangements with Chinese banks for trade settlement in RMB.

"We will sell RMB against the US dollar, and companies can buy as much as they want provided they have the right papers. For individuals, the limit of 20,000 RMB a day," Arora said. He expects settlements for an amount ranging between 200 million and 300 million in the first year.

Hong Kong is the only offshore market for the Chinese currency. The past year saw $400 billion of Chinese yuan being traded in Hong Kong against other currencies.

BoI is also awaiting permission from Chinese regulators to establish a branch in Beijing, where it has been running a representative office for the past four years. It has recently signed an MoU with the CBRC on converting the representative office into a branch. The bank has been running a branch in the boom city of Shenzhen for the past four years. The Shenzhen branch will also be involved in providing additional support for the trade settlement business.

national Consumer Price Index

The government will introduce a national Consumer Price Index (CPI) in the third week of this month as part of its efforts to revamp price statistics. The national CPI is expected to eventually replace the Wholesale Price Index (WPI) as a benchmark for inflation.

According to Central Statistical Organisation (CSO), the first set of the new consumer indices will also includes CPI urban and CPI rural. Separate data for states and Union Territory-level CPIs will also be released. The national CPI, which has been made more representative by updating and expanding the basket, will capture all aspects of economy in a single window, an official said.

Besides WPI, currently there are three consumer price indices which include estimate for agricultural labourers, rural labourers and industrial workers. As Reserve Bank of India (RBI) needs one inflation index to rely upon, the CPI data will be key to the central bank to decide monetary policy, which is the practice worldwide. The single CPI will be applicable for the seventh pay commission, an official said, adding that at present, government employees are treated as industrial workers while determining the wages.

However, the new CPI will have no impact on wages under rural job guarantee scheme. As of now, the new indices will have 2010 as the base year, which will be shifted to 2011-12 once the 68th round of consumer expenditure survey is completed. The National Sample Survey Organisation (NSSO) is collecting data for urban centres and the statistics ministry has roped in the postal department to collect price data from villages. "The data coming from postal departments are not very uniform, but we are trying to streamline it," an official said.

National Statistical Commission, the apex body on core statistics, has already cleared the methodology for calculating the new CPI. The move came after the government felt that WPI-based inflation overstated the level of the price rise in the economy. Officials feel the new index will give a better picture of consumer price movement across the country.

India 500 million smartphone users

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the smartphone money is on India.  There are currently nearly 500 million smartphone owners worldwide (with this figure predicted to go up to 1 billion by 2013). According to comScore, a mere 10 percent of these people are in the US, yet when you read most of the technology press, you'd think North Americans were the only ones lucky enough to get their hands on cutting edge devices.
There's no doubt that the US is an important market, but in the coming years it won't be the most important. It looks more and more likely that the accolade will go to India, and here's why.
 
Currently only 81 million Indians or 7% of the population regularly use the internet. But a whopping 507 million own mobile phones. Mobile operators are currently signing up around 20 million new subscribers a month. The trend of there being many more mobile phones than internet connections is why the Boston Consulting Group predicts that the world's next 1.2 billion internet users will be connecting via their phone. And early next year, when 3G services arrive in India, masses of people previously unconnected will start surfing via the connection in their pocket.

 
Indians are no strangers to mobiles phones. This year Nokia celebrated its 15th year operating in the country. Although in the first six years, there were only 5 million subscribers, it's now predicted that by 2013 the number will rise to almost 1 billion. For a company that made its first phone with a Hindi menu in 2000 and has for the last three years been voted India's most trusted brand, that's great news. But it's even better news for Indians who will finally have a chance to make the most of smartphone technology.

 
According to a report in the Economist, the growth rate of the Indian economy will overtake China's in 2013, if not before. Some economists predict that it will grow faster than that of any other large country over the next 25 years. It cites India's democracy as one reason, the other being demographics. India is blessed with a young and growing workforce. The dependency ratio (the proportion of children and old people to working-age adults) is one of the best in the world and will remain so for a generation. This younger, wealthier generation will be eager to get their hands on the latest smartphone technology. And with a population of 1.2 billion, that's a lot of hands.

New research by American Express Business Travel

 
New research by American Express Business Travel found that corporate travel professionals are increasingly using social media to communicate with travelers and to stay on top of latest travel industry information. Respondents also reported high expectations regarding their companies' future social media usage plan, reporting that within the next year forums, webcasts, and online video are the most likely to be implemented by businesses.
The latest research report "Social Media in Business Travel Management" by American Express Business Travel's eXpert insights research practice outlines the evolution of social media tools and sites from consumer use to business-to-business use, and illustrates how social media supports managed business travel today. The research also includes survey results conducted in the beginning of 2010 to reveal how individuals as well as their companies are currently embracing social media technology and how they might use these tools to support managed travel in the future.

"As businesses around the globe alter the way they communicate and receive information from clients and prospects, social media has also proven to be a useful and effective tool to share pertinent information with employees and drive change in organizations," said Christa Degnan Manning, director, eXpert insights, American Express Business Travel.

"Applying this research to the social networking platform we've launched, BusinessTravelConneXion, it is encouraging to see corporate travel departments becoming more comfortable with this form of collaboration," said Alicia Tillman, vice president, corporate affairs and marketing services, American Express Business Travel. "We will continue to provide a free forum to share ideas, connect community members, and offer webcasts, videos and blogs to meet the demand for industry information and connection entrepreneurial travel category managers are looking for today."


Social media has evolved to play a role in business travel programs. While half (50%) of respondents said that they use social media to some extent to support travel management today, mid-size companies ($3M to $10M USD in air volume) were the largest adopters (59%) of social media to support business travel management to date.

Many respondents indicated that the primary benefit of social media in supporting managed travel is educating themselves or their organization about the market. In fact, 44 percent indicated that staying on top of the latest travel information was the most important social media benefit. This response was followed closely by the interest in using social networking to learn and communicate best practices and reduce business travel costs (43%). Other findings include:

* 42% use social networking to look for preferred vendors and services from travelers
* 34% seek to uncover travel patterns that could lend to better vendor rates and services
* 27% look to gain visibility into traditionally siloed business functions/departments
* 26% use social media tools to encourage travelers to network with each other
* 18% network with other travel manager/procurement officer peers

*Customization and Oversight Desired For Expanded Social Media Use*


Of those survey respondents who do use social media to support travel management, when asked specifically what features or functionality would they add if they could design their own social media tools for professional use, the majority (61%) indicated they wanted flexibility to accommodate business travel management processes. Other top ranking features/functionality include:


* Real time updates such as mobile application, the ability to push out notifications and alerts (39%)
* Supervision of the entire social media sharing process and specific monitoring of those who are using social media tools (35%) Reporting ability – notification to website abuse, comments and security issues (29%)

*Corporations Apprehensive About Implementing Social Media Tools*


Even though the global economic crisis curbed spending, financing was not the main social networking adoption barrier. In fact, only six percent of respondents cited lack of funding as the most significant barrier or challenge to adopt social media tools.


The most significant barrier to adoption of social media as an organization has been the lack of direct benefits realization. Twenty percent found the business case for social media tools and usage within travel management programs unclear. Lack of strategy or understanding and lack of support from upper management each followed at 15 percent respectively.


Notably, only five percent of respondents indicated that they have had no barriers or challenges to adopt social media tools as an organization.


"While companies have a way to go to embrace widespread social media acceptance, they are very involved in evaluating how to use these new technologies rather than simply dismissing it particularly as younger generations enter the workforce and move up the corporate ladder," continued Manning.



beer contains / benefits of beer

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The healthy properties of beer when consumed in moderation are not well understood, according to a new report.

The drink is a rich source of vitamins, fibre, minerals and antioxidants and has a relatively low calorific value compared with many other alcoholic beverages, the study says.

The report, commissioned by The Beer Academy, which aims to help people enjoy beer sensibly, found that when drunk in moderation, beer is one of the healthiest alcoholic drinks available.

Beer is one of the healthiest alcoholic drinks around, according to a report

A spokeswoman said: 'Beer contains vitamins which can help you to maintain a well-balanced healthy diet, fibre to keep you regular, readily absorbed antioxidants and minerals such as silicon which may help to lower your risk of osteoporosis.'



A survey found that while 68% of people consider beer to be Britain's national drink, some 10% wrongly believe that beer contains fat, and 13% incorrectly believe that beer is made from chemicals rather than malted barley and hops.

The report also explores the psychological and sociability benefits of people enjoying a pint in their local pub - yet pubs are closing at a rate of 39 a week.
the pub is at the heart of every community and a place where people go to enjoy company and find out local news and information.

Pete Brown, an award-winning author, said: 'Still, we persist in the myth that somehow beer is an inferior drink to foreign imports such as wine. From Government receptions through to weddings and business occasions, wine rather than beer is served.


'It has been fashionable to look down on our own national drink in favour of overseas imports. But to do that is to turn our backs on our great British success story and our own heritage, and miss out on the myriad tastes and complexities that beer can offer.'

 ICM interviewed a random sample of 2,004 adults aged 18 and over online between February 26 and 28 this year.

indian railway terminals


S. K. Sahai's firm ships containers 2,400 nautical miles from Singapore to a port here in four or five days. But it typically takes more than two weeks to make the next leg of the journey, 870 miles by rail to New Delhi.

For most of that time the containers idle at the Jawaharlal Nehru Port near Mumbai because railway terminals, trains and tracks are severely backlogged all along the route. Counting storage and rail freight fees, Mr. Sahai estimates the cost of moving goods from Mumbai to Delhi at up to $840 per container — or about three times as much as getting the containers to India from Singapore.

"They don't have any physical space," Mr. Sahai, who is chairman of SKS Logistics of Mumbai, said about the government-owned Indian Railways. "And all their trains are booked."

As the world looks to India to compete with China as a major source of new global economic growth, this country's weak transportation network is stalling progress.

Economists say India must invest heavily in transportation to achieve a long-term annual growth rate of 10 percent — the goal recently set by the prime minister, Manmohan Singh. But whether measured by highways, airways or — particularly — far-reaching railways, India's transportation is falling short.

Critics say the growth and modernization of Indian Railways has been hampered by government leaders more interested in winning elections and appeasing select constituents, rather than investing in the country's long-term needs. It is one of the many ways that the political realities of India's clamorous democracy stand in contrast to the forced march that China's authoritarian system can dictate for economic development.

A 40,000-mile, 150-year-old network, Indian Railways is often described as the backbone of this nation's economy. And in fact it is moving more people and goods than ever: seven billion passengers and 830 million tons of cargo a year. But its expansion and modernization is not keeping pace with India's needs.

"If it has to serve as the backbone of the Indian economy, the leaders of the Indian Railways have to think big, and they need to have a larger vision," said S. Ramnarayan, a professor at the Indian School of Business and co-author of a book about the railways. "Thinking in terms of incrementalism — a little extra here, a little extra there — doesn't solve anybody's problem."

The crash on an eastern rail link late last month that killed 151 people and injured hundreds of others underscored the vital nature of the railroads, as well as their vulnerability. The crash, which authorities have attributed to Maoist rebels, was particularly disruptive because it disabled a busy east-west line that, along with many others, was already stretched thin.

Traffic between big cities like Mumbai and Delhi, for instance, often runs at more than 120 percent of planned capacity, which means trains travel more slowly and tracks wear out faster than intended.

And because the railways' tracks are too lightweight and the locomotives underpowered, Indian trains can haul no more than 5,000 tons of cargo, compared with 20,000-ton capacities in the United States, China and Russia.

India's fastest passenger services, the Rajdhani and Shatabdi, have top speeds of only 160 kilometers (100 miles) an hour, while even the Amtrak Acela in the United States can hit 150 miles an hour in a few stretches. China's bullet trains, meanwhile, zip along at an average speed of 215 miles an hour.

Political analysts say that the current railway minister, Mamata Banerjee, has been distracted by her party's campaign to win elections in her home state of West Bengal. Those political ambitions, they say, have inspired populist policies by Indian Railways that are at financial odds with modernization and capital investments.

Even though Indian law allows the railways to acquire land quickly through hearings before magistrates, for example, Ms. Banerjee has promised farmers and other landowners that the ministry will negotiate with each landowner whose property must be acquired for two large freight projects. While popular with landowners, the process could add years to the projects.

An assistant to Ms. Banerjee said she was not available for an interview because she was busy with recently concluded municipal elections in West Bengal.

Ms. Banerjee is hardly the first railway minister with a political agenda, though. And most of the ministers who preceded her have funneled the railways' limited resources into subsidies for passengers at the expense of freight service. Even though passenger services lost about $4 billion last year, the government has not increased fares for seven years. And it has even lowered some prices, in the face of inflation that has ranged from 3.8 to 13 percent a year.

As a result, migrant workers, for example, can travel from Mumbai to their homes in Bihar, 1,050 miles away, for 500 rupees ($11). Last year, Ms. Banerjee introduced a new monthly ticket good for travel up to 100 kilometers (61 miles) for 25 rupees (54 cents).

"It's very difficult to run a business on that," a senior railway official said, insisting on anonymity because of the sensitivity of the issue.

But, he added, Ms. Banerjee is helping the "large number of poor in the country who are eking out a living."

To subsidize passenger travel, the railways levy some of the highest freight tariffs in the world. India charges $395 to move a ton of freight one kilometer — four times what American companies charge and twice as much as in China.

Business executives say their best hopes for improving the railroad's costs and capabilities may ride on solutions not wholly reliant on Indian Railways.

Four years ago, the government began allowing private companies to operate container trains. One of the new carriers is IndiaLinx, which buys rail cars and leases tracks, locomotives and workers from the Railways.

Amitabha Chaudhuri, chief executive of IndiaLinx, said his company would carry about 95,000 containers this year, up from 55,000 last year. The company, which is owned by APL Logistics of Singapore, has seen strong demand for refrigerated containers, which are in short supply in India.

Analysts and officials also hope that plans proceed for dedicated freight corridors that would greatly increase capacity along the country's most congested stretches of rail: Mumbai to Delhi in the west, and Punjab State to Calcutta on the east coast. The 1,700-mile network is expected to cost more than $9 billion.

For the western corridor, Japan has agreed to provide about $5 billion in low-interest loans to help India buy equipment and services from Japanese suppliers. And the World Bank is considering loans of up to $2.4 billion for the eastern corridor. Construction is expected to begin next year and be completed in 2017.

Analysts say India will be able to execute ambitious projects when it appoints competent managers and frees them from political interference.

A former railway bureaucrat, Elattuvalapil Sreedharan, for instance, is known for completing two major initiatives on time and on budget — the Konkan Railways, a 472-mile line on the mountainous western coast, and the Delhi Metro, a 118-mile subway system.

And in recent years, another bureaucrat, Sudhir Kumar, helped bolster rail profits by making trains longer and heavier, and by turning them around faster.

But broadly speaking, India does not have a stellar record of executing its plans. The backlog of rail projects runs 10 pages and is short $17 billion in required financing.


The oldest incomplete project, a 46-mile line in West Bengal, began in 1974 and has been delayed because the state government has not handed over some land.

Many of the projects were added to the planning list at the behest of politicians currying favor with voters back home.

One 37-mile line in Uttar Pradesh, India's most populous state, is meant to give a direct rail route between the state capital and Mainpuri, a city with a population of about 200,000. The project was added to the railway budget in 1997, but it still needs $13 million in financing — money for which it has to compete against dozens of similar lines.

Analysts said it would be more efficient to connect such towns to main rail lines by buses. But Ms. Banerjee has said that the railways must build lines to help spur development in remote areas and smaller towns.

"We cannot and should not have a myopic view of viability," she said during her annual budget speech in February.

"What is not viable today, if connected, will become viable tomorrow."