Bangalore: Canadian phonemaker Research In Motion and Kerala based business incubator Startup Village on Thursday announced plans to launch the first BlackBerry Innovation Zone in India.
Located at Rubus Labs within Startup Village, the innovation Zone will be the first of its kind in the Asia Pacific region, the company said in a statement.
"Rubus Labs is designed to foster the spirit of innovation in the minds of young entrepreneurs and students in India," said Mr Alec Saunders, Vice President of Developer Relations and Ecosystems Development, Research In Motion.
The labs will play host to developer activities such as BlackBerry Hackathons and Bar Camps. Training sessions will be conducted across 126 engineering colleges in Kerala under the BlackBerry BASE (BlackBerry Apps by Student Entrepreneurs) program, the company said.
"Rubus Labs will also serve as an experiential zone for school children to introduce them to the world of smartphones," said Sijo Kuruvilla George, CEO, Startup Village.
Earlier this month, the Canadian government had said that it was keen to enter into partnerships with the Kochi based business incubator. The village, mentored by Infosys co-chairman Kris Gopalakrishnan offers a three year tax holiday to investors.
Success in my Habit
Saturday, June 2, 2012
Reliance Power, Shell consortium to set up LNG terminal on East coast
New Delhi: Reliance Power, Shell and Kakinada Sea Ports Ltd (KSPL) consortium propose to set up a five-million-tonne a year expandable to 10 million tonne gas import terminal on the East coast.
Setting up such a terminal will require an investment of about $1 billion. The partners expect the terminal to be ready by 2014. While the project will mark the entry of the Anil Dhirubhai Ambani Group into the LNG business, it will be Shell's second such project in India after Hazira.
Shell and Reliance Power will hold the majority of the equity in the terminal company. The terminal will help in continued supply of gas for Reliance Power's gas-based 2,400 megawatt Samalkot power plant.
The Government has recently done away with import duty on natural gas/LNG for power generation.
In a statement issued here, the joint venture players said an agreement to undertake joint technical studies and commercial agreements was signed last December.
It said the LNG import and re-gasification terminal at the Kakinada Deepwater port in Andhra Pradesh was moving to its next phase of implementation.
With the completion of studies and agreements, the consortium has finalised the specific location of a Floating Storage and Re-gasification Unit (FSRU)-based receiving terminal adjacent to the existing island breakwater, thus minimising terrestrial impact as little or no onshore facilities will be required.
Besides the location, the orientation and specifications of the FSRU have also been agreed. The consortium is currently engaged with FSRU suppliers for selection of a preferred provider.
Mr De la Rey Venter, Global Head of LNG, Royal Dutch Shell, said, “India is an important market for LNG and Gujarat and Andhra Pradesh have the highest demand for gas in India. After the success of Shell's Hazira terminal in Gujarat, Shell is keen to set up an LNG receiving terminal in AP.”
Mr J.P. Chalasani, CEO, Reliance Power Ltd, said, “We believe Shell, with its large LNG portfolio and experience in operating LNG terminals will add immense value to the project.
“Kakinada, with its proximity to our Samalkot power plant and several other gas consumers, is a natural choice for setting up an LNG terminal.”
Andhra Pradesh has gas-based power capacity of 3,500 megawatt and additional 4,500 megawatt is in an advanced stage of implementation to meet the shortfall in the State.
Setting up such a terminal will require an investment of about $1 billion. The partners expect the terminal to be ready by 2014. While the project will mark the entry of the Anil Dhirubhai Ambani Group into the LNG business, it will be Shell's second such project in India after Hazira.
Shell and Reliance Power will hold the majority of the equity in the terminal company. The terminal will help in continued supply of gas for Reliance Power's gas-based 2,400 megawatt Samalkot power plant.
The Government has recently done away with import duty on natural gas/LNG for power generation.
In a statement issued here, the joint venture players said an agreement to undertake joint technical studies and commercial agreements was signed last December.
It said the LNG import and re-gasification terminal at the Kakinada Deepwater port in Andhra Pradesh was moving to its next phase of implementation.
With the completion of studies and agreements, the consortium has finalised the specific location of a Floating Storage and Re-gasification Unit (FSRU)-based receiving terminal adjacent to the existing island breakwater, thus minimising terrestrial impact as little or no onshore facilities will be required.
Besides the location, the orientation and specifications of the FSRU have also been agreed. The consortium is currently engaged with FSRU suppliers for selection of a preferred provider.
Mr De la Rey Venter, Global Head of LNG, Royal Dutch Shell, said, “India is an important market for LNG and Gujarat and Andhra Pradesh have the highest demand for gas in India. After the success of Shell's Hazira terminal in Gujarat, Shell is keen to set up an LNG receiving terminal in AP.”
Mr J.P. Chalasani, CEO, Reliance Power Ltd, said, “We believe Shell, with its large LNG portfolio and experience in operating LNG terminals will add immense value to the project.
“Kakinada, with its proximity to our Samalkot power plant and several other gas consumers, is a natural choice for setting up an LNG terminal.”
Andhra Pradesh has gas-based power capacity of 3,500 megawatt and additional 4,500 megawatt is in an advanced stage of implementation to meet the shortfall in the State.
New Telecom Policy to make roaming free across country
New Delhi: The Cabinet on Thursday cleared the National Telecom Policy 2012 which envisages a slew of initiatives, including free roaming, unrestricted Net telephony and a new unified licensing regime for operators.
The policy gives specific emphasis to push broadband uptake and increase local manufacturing of telecom equipment. The policy document is, however, silent about when and how the proposals will be implemented.
The biggest gain would be for those who travel a lot, as roaming charges are set to be abolished. This means that subscriber will get free incoming calls and outgoing calls at local tariffs anywhere in the country.
Introduction of inter-circle Mobile Number Portability will enable users carry their phone number from one State to another. For example, an Airtel user in Delhi can shift to Vodafone's network in Chennai and retain the phone number. Currently, MNP is allowed only if the user wants to change operator in the same circle.
Unrestricted Net Telephony
The other major gain for consumers will be on the proposal to allow unrestricted Internet telephony. This will allow subscribers to use the Internet to make local and STD calls to a fixed or mobile user. This is also good for Internet Service Providers such as Reliance Industries promoted Reliance Infotel, as unrestricted Net telephony will allow them to offer voice services on top of data.
The new policy comes at a time when the telecom sector is reeling under the multiple impact of the 2G spectrum scam, falling revenues for operators and the resultant tariff hikes.
The policy gives specific emphasis to push broadband uptake and increase local manufacturing of telecom equipment. The policy document is, however, silent about when and how the proposals will be implemented.
The biggest gain would be for those who travel a lot, as roaming charges are set to be abolished. This means that subscriber will get free incoming calls and outgoing calls at local tariffs anywhere in the country.
Introduction of inter-circle Mobile Number Portability will enable users carry their phone number from one State to another. For example, an Airtel user in Delhi can shift to Vodafone's network in Chennai and retain the phone number. Currently, MNP is allowed only if the user wants to change operator in the same circle.
Unrestricted Net Telephony
The other major gain for consumers will be on the proposal to allow unrestricted Internet telephony. This will allow subscribers to use the Internet to make local and STD calls to a fixed or mobile user. This is also good for Internet Service Providers such as Reliance Industries promoted Reliance Infotel, as unrestricted Net telephony will allow them to offer voice services on top of data.
The new policy comes at a time when the telecom sector is reeling under the multiple impact of the 2G spectrum scam, falling revenues for operators and the resultant tariff hikes.
India-UK trade on course to double by 2015
Hyderabad: The Indo-UK trade is on course to double from Euro 13 billion in 2010 by 2015 with the trade evenly balanced between the two, according to Mr Simon Fraser, Permanent Under Secretary and Head of British Diplomatic Service.
The focus has been on building a stronger, wider and deeper partnership. The UK is already the largest investor in India and India is the fourth largest investor in the UK.
After opening the new British Deputy High Commission in Hyderabad, Mr Simon Fraser said," British diplomacy is engaged in a significant shift towards the powers in Asia, with India as centrepiece."
A new office in Hyderabad was a top priority as the engagement between India, Andhra Pradesh and Hyderabad is set to get deeper. There is immense opportunity to expand trade and investment between the India and the UK.
Mr James Beven, British High Commissioner to India, said, "The new team in Hyderabad will identify and develop opportunities for close co-operation in education, healthcare, low-carbon technologies and scientific research."
Mr Beven said, "Britain is supporting the ongoing discussions on free trade agreement between India and the European Union. Since these are very intricate, we hope a mutually agreeable agreement would come through. This would be beneficial to all."
The focus has been on building a stronger, wider and deeper partnership. The UK is already the largest investor in India and India is the fourth largest investor in the UK.
After opening the new British Deputy High Commission in Hyderabad, Mr Simon Fraser said," British diplomacy is engaged in a significant shift towards the powers in Asia, with India as centrepiece."
A new office in Hyderabad was a top priority as the engagement between India, Andhra Pradesh and Hyderabad is set to get deeper. There is immense opportunity to expand trade and investment between the India and the UK.
Mr James Beven, British High Commissioner to India, said, "The new team in Hyderabad will identify and develop opportunities for close co-operation in education, healthcare, low-carbon technologies and scientific research."
Mr Beven said, "Britain is supporting the ongoing discussions on free trade agreement between India and the European Union. Since these are very intricate, we hope a mutually agreeable agreement would come through. This would be beneficial to all."
India and Bahrain signed a Tax Information Exchange Agreement
Mumbai: The governments of India and Bahrain have signed a Tax Information Exchange Agreement (TIEA), according to a press release from Bahrain Economic Development Board. Bahrain is the latest destination with which India has signed a TIEA.
India has identified nearly 30 destinations with which it can sign TIEA, a model developed by Organization for Economic Co-operation and Development ( OECD) for better co-operation among countries on tax related information.
India has already completed negotiations for sixteen similar agreements with Bahamas, Bermuda, British Virgin Islands, Isle of Man, Cayman Islands, Jersey, Monaco, St Kitts & Nevis, Argentina, Costa Rica, Macau, Liberia, Marshall Islands, Congo and Gibraltar.
The agreement was one of the several signed during a two-day state visit by His Royal Highness Prince Salman Bin Hamad Al-Khalifa, the Crown Prince of Bahrain and Chairman of the Bahrain Economic Development Board (EDB).
A delegation led by him has visited Mumbai and Delhi to strengthen bilateral relationships between the business communities and to highlight investment opportunities in the Kingdom.
India has identified nearly 30 destinations with which it can sign TIEA, a model developed by Organization for Economic Co-operation and Development ( OECD) for better co-operation among countries on tax related information.
India has already completed negotiations for sixteen similar agreements with Bahamas, Bermuda, British Virgin Islands, Isle of Man, Cayman Islands, Jersey, Monaco, St Kitts & Nevis, Argentina, Costa Rica, Macau, Liberia, Marshall Islands, Congo and Gibraltar.
The agreement was one of the several signed during a two-day state visit by His Royal Highness Prince Salman Bin Hamad Al-Khalifa, the Crown Prince of Bahrain and Chairman of the Bahrain Economic Development Board (EDB).
A delegation led by him has visited Mumbai and Delhi to strengthen bilateral relationships between the business communities and to highlight investment opportunities in the Kingdom.
Online apparel purchases double in April
New Delhi: The Internet and Mobile Association of India (IAMAI) on Wednesday said online sales of branded apparel almost doubled in volume to 4.99 million pieces during April 2012, as against 2.54 million in the same month a year ago.
E-ticketing continued to grow with irctc.com recording 5.56 million bookings in April, 2012, as compared to 2.26 million bookings in April 2011.
Similarly, airlines recorded 1.92 million bookings in April 2012 against 1.01 million bookings in April 2011.
Recruitment Portals
According to industry data based on absolute numbers collected from various companies, online recruitment portals have also witnessed an increase of 0.23 million resumes with 2.05 million uploads in April 2012, as compared to 1.82 million uploads in April 2011.
IAMAI's ‘Internet Economy Watch' data released said number of profile uploads on matrimonial websites has increased to 2.74 million during April from 1.35 million in April 2011.
“More growth is expected in the future as brands will become granular,” Mr Subho Ray, President, IAMAI, told Business Line.
He said the total e-commerce market was estimated at around Rs 46,000 crore by end of 2011 and was growing at around 40 per cent year-on-year.
Footwear sales
The report said footwear sales grew by more than 100 per cent to 3.91 million units in April as compared to 1.86 million in April 2011.
However, jewellery, spa and restaurant bookings, and designer labels' sales online had marginal growth.
Jewellery's category grew to 1.11 million in April this year from 1.06 million in April 2011. Designer labels were at 1.46 million from 1.19 million buyers in April last year.
The sample was collected from 57.12 million users with usage for E-tailing, Online Travel and Vertical Classifieds, IAMAI said.
E-ticketing continued to grow with irctc.com recording 5.56 million bookings in April, 2012, as compared to 2.26 million bookings in April 2011.
Similarly, airlines recorded 1.92 million bookings in April 2012 against 1.01 million bookings in April 2011.
Recruitment Portals
According to industry data based on absolute numbers collected from various companies, online recruitment portals have also witnessed an increase of 0.23 million resumes with 2.05 million uploads in April 2012, as compared to 1.82 million uploads in April 2011.
IAMAI's ‘Internet Economy Watch' data released said number of profile uploads on matrimonial websites has increased to 2.74 million during April from 1.35 million in April 2011.
“More growth is expected in the future as brands will become granular,” Mr Subho Ray, President, IAMAI, told Business Line.
He said the total e-commerce market was estimated at around Rs 46,000 crore by end of 2011 and was growing at around 40 per cent year-on-year.
Footwear sales
The report said footwear sales grew by more than 100 per cent to 3.91 million units in April as compared to 1.86 million in April 2011.
However, jewellery, spa and restaurant bookings, and designer labels' sales online had marginal growth.
Jewellery's category grew to 1.11 million in April this year from 1.06 million in April 2011. Designer labels were at 1.46 million from 1.19 million buyers in April last year.
The sample was collected from 57.12 million users with usage for E-tailing, Online Travel and Vertical Classifieds, IAMAI said.
SEBI to derecognise exchanges with sub-Rs 1,000 cr turnover
Mumbai: The stock market regulator Securities and Exchange Board of India will compulsorily derecognise exchanges with less than Rs 1,000 crore annual turnover and not applying for exit within two years.
Stock exchanges with an annual turnover of less than Rs 1000 crore are eligible to voluntarily exit, said SEBI in a circular on Wednesday. Derecognised exchanges need to file for exit within two months. Failure to do so would result in their compulsory exit, it said.
Exclusively listed companies on such exchanges have two options, said SEBI. The first is to list with a nationally present stock exchange. If a company fails to obtain listing, it would be traded through a dissemination board set up by nationally present stock exchanges.
These boards would match orders and enable trading, but would not issue contract notes and settle trades through their clearing house. Brokers of these exiting stock exchanges have been allowed to trade in nationally present stock exchanges through the former's subsidiaries.
Exiting exchanges may distribute their wealth under extant regulation after payment of statutory dues. However, 20 per cent of their wealth post-tax would go to SEBI's Investor Protection and Education Fund to cover future liabilities.
Stock exchanges with an annual turnover of less than Rs 1000 crore are eligible to voluntarily exit, said SEBI in a circular on Wednesday. Derecognised exchanges need to file for exit within two months. Failure to do so would result in their compulsory exit, it said.
Exclusively listed companies on such exchanges have two options, said SEBI. The first is to list with a nationally present stock exchange. If a company fails to obtain listing, it would be traded through a dissemination board set up by nationally present stock exchanges.
These boards would match orders and enable trading, but would not issue contract notes and settle trades through their clearing house. Brokers of these exiting stock exchanges have been allowed to trade in nationally present stock exchanges through the former's subsidiaries.
Exiting exchanges may distribute their wealth under extant regulation after payment of statutory dues. However, 20 per cent of their wealth post-tax would go to SEBI's Investor Protection and Education Fund to cover future liabilities.
Uttar Pradesh to sign pact with Gates Foundation
Lucknow: The Uttar Pradesh government will sign an agreement with Bill and Melinda Gates Foundation, which will provide technical, management and programme design support in the health sector.
Co-chairman of the foundation, Bill Gates, on Wednesday met UP Chief Minister Akhilesh Yadav at his official residence here and offered his foundation's support to work in partnership on health and development issues in the state. The MoU will be signed in two months.
The foundation will provide support in the maternal, neonatal and child healthcare, vaccination and other health and agriculture-related programmes. The decision in this regard was taken during the meeting.
The state government shall provide support as per sanctioned plans to achieve the objective and to scale up best approaches, an official release issued here said.
During the meeting, Akhilesh appreciated the works being done by the Gates Foundation in different districts of the state in the area of health through projects like Sure start, Manthan and Urban Health Initiative, the release said.
Yadav also apprised Gates of the efforts being started by his government to tackle the poor health indicators of mother mortality rates, infant mortality rate, low level of complete immunisation, high malnutrition among children, high fertility rate, among others.
Apart from these issues, he also discussed with Gates the problems and challenges of vector-borne diseases like Tuberculosis, Japanese encephalitis and acute encephalitis syndrome in certain regions of the state.
The release said Yadav suggested that the state should be supported in terms of technical knowledge in its efforts in tackling health-related challenges by experimenting with new and innovative methods for effective behavior changes, delivery of services and organisation and management of health systems, including telemedicine and capacity building of grassroot-level health workers, instead of providing monetary funding to the state.
The UP chief minister said the time has come for the foundation to consider a comprehensive and long-term programme which addresses the maternal and child health issues in the state in a holistic manner. The release said Gates assured him of full support by the foundation to develop innovative solution and to provide catalytic, technical, managerial and advocacy support to the government.
Co-chairman of the foundation, Bill Gates, on Wednesday met UP Chief Minister Akhilesh Yadav at his official residence here and offered his foundation's support to work in partnership on health and development issues in the state. The MoU will be signed in two months.
The foundation will provide support in the maternal, neonatal and child healthcare, vaccination and other health and agriculture-related programmes. The decision in this regard was taken during the meeting.
The state government shall provide support as per sanctioned plans to achieve the objective and to scale up best approaches, an official release issued here said.
During the meeting, Akhilesh appreciated the works being done by the Gates Foundation in different districts of the state in the area of health through projects like Sure start, Manthan and Urban Health Initiative, the release said.
Yadav also apprised Gates of the efforts being started by his government to tackle the poor health indicators of mother mortality rates, infant mortality rate, low level of complete immunisation, high malnutrition among children, high fertility rate, among others.
Apart from these issues, he also discussed with Gates the problems and challenges of vector-borne diseases like Tuberculosis, Japanese encephalitis and acute encephalitis syndrome in certain regions of the state.
The release said Yadav suggested that the state should be supported in terms of technical knowledge in its efforts in tackling health-related challenges by experimenting with new and innovative methods for effective behavior changes, delivery of services and organisation and management of health systems, including telemedicine and capacity building of grassroot-level health workers, instead of providing monetary funding to the state.
The UP chief minister said the time has come for the foundation to consider a comprehensive and long-term programme which addresses the maternal and child health issues in the state in a holistic manner. The release said Gates assured him of full support by the foundation to develop innovative solution and to provide catalytic, technical, managerial and advocacy support to the government.
PowerGrid plans Rs 1-lakh cr capex for 12th Plan
Mumbai: PowerGrid has planned a capital expenditure of Rs 1 lakh crore for the 12th Five Year Plan. For FY13, it will be Rs 20,000 crore.
Mr R.N. Nayak, Chairman, Power Grid Corporation, said the capital expenditure will be for transmission jobs. The equity component will be at 30 per cent and the balance debt.
In FY 13, the company expects the central sector to add 6,200 MW, independent power producers 3,800 MW and ultra mega power plants 1,600 MW.
Apart from its core verticals of transmission, grid management, consultancy and telecom, the company will eye opportunities in inter-State transmission systems, smart grid, asset management and engineering, procurement and construction, besides avenues in backward integration, he said.
Mr Nayak expects short-term open access transaction prices to come down further from the present levels once the southern and western region inter-connectivity was established. The inter-connectivity is expected to be completed by March 2014.
On telecom, he said PowerGrid has a 25,000-km network providing backbone connectivity to all metros, major cities and towns, including remote areas in Jammu and Kashmir and the north-eastern states. The company had entered into infrastructure sharing agreement with a telecom infrastructure service provider for mounting telecom antennas on the power line towers in Punjab, J&K and Himachal Pradesh. The company has offered about 800 towers for installation of the antennas, but would wait to finalise the contract as there is a possibility of higher returns.
On Wednesday, the company scrip closed 1.95 per cent down at Rs 105.50 on the BSE.
Mr R.N. Nayak, Chairman, Power Grid Corporation, said the capital expenditure will be for transmission jobs. The equity component will be at 30 per cent and the balance debt.
In FY 13, the company expects the central sector to add 6,200 MW, independent power producers 3,800 MW and ultra mega power plants 1,600 MW.
Apart from its core verticals of transmission, grid management, consultancy and telecom, the company will eye opportunities in inter-State transmission systems, smart grid, asset management and engineering, procurement and construction, besides avenues in backward integration, he said.
Mr Nayak expects short-term open access transaction prices to come down further from the present levels once the southern and western region inter-connectivity was established. The inter-connectivity is expected to be completed by March 2014.
On telecom, he said PowerGrid has a 25,000-km network providing backbone connectivity to all metros, major cities and towns, including remote areas in Jammu and Kashmir and the north-eastern states. The company had entered into infrastructure sharing agreement with a telecom infrastructure service provider for mounting telecom antennas on the power line towers in Punjab, J&K and Himachal Pradesh. The company has offered about 800 towers for installation of the antennas, but would wait to finalise the contract as there is a possibility of higher returns.
On Wednesday, the company scrip closed 1.95 per cent down at Rs 105.50 on the BSE.
FM does away with multi-level TDS on packaged software
New Delhi: The finance ministry on Wednesday provided relief to the Rs 18,000-crore software industry by replacing a multi-level structure of tax deducted at source (TDS) on distributors with a single TDS. This would be deducted by the first distributor — one who directly purchases packaged software from a developer.
The move, announced by Finance Minister Pranab Mukherjee, would help small-level distributors, cash flow for whom are choked by TDS at each stage of distributorship. Though distributors get refunds on TDS, industry sources said this happen after a long time, leading to a fund squeeze. They added small distributors worked on a margin of just two per cent. “On the advice of Nasscom (National Association of Software and Service Companies), I have approved the issuance of a circular to avoid multi-level TDS on software under section 194 J (of the Income Tax Act),” Mukherjee said.
Currently, various distributors are involved in selling a particular software. A software developer sells his product to a distributor (master distributor), who sells it to another, and so on. Currently, TDS of 10 per cent is levied at each stage. Every distributor has to deduct this. Once the new system is in place, TDS would only be levied on the software developer by the master distributor.
The move, announced by Finance Minister Pranab Mukherjee, would help small-level distributors, cash flow for whom are choked by TDS at each stage of distributorship. Though distributors get refunds on TDS, industry sources said this happen after a long time, leading to a fund squeeze. They added small distributors worked on a margin of just two per cent. “On the advice of Nasscom (National Association of Software and Service Companies), I have approved the issuance of a circular to avoid multi-level TDS on software under section 194 J (of the Income Tax Act),” Mukherjee said.
Currently, various distributors are involved in selling a particular software. A software developer sells his product to a distributor (master distributor), who sells it to another, and so on. Currently, TDS of 10 per cent is levied at each stage. Every distributor has to deduct this. Once the new system is in place, TDS would only be levied on the software developer by the master distributor.
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