Thursday, November 12, 2009
hen doctors at the local pri-mary health centre inBanda. Uttar Pradesh. wereunable to stop her bleeding. Phuli. 28, was moved to the Bandadistrict hospital and then to the hospital in Kanpur. But here she was denied life-saving care and gave birth outside the hospital gates. While the baby died within an hour. Phuli died later that night.Did Phuli need to die? Could she have been saved if she had not been the wife of a daily wage labourer belonging to a marginalised community? Would she have survived if she knew that the symptoms of blood loss were not normal or that sp'e was seriously sick? Why is it that over 75.000 women continue to die from pregnancy-related causes in India each year? Can the health system be made legally accountable? These were some of the concerns raised at a recent meeting in New Delhi to discuss Maternal Health, Human Rights and Law. as a part of the nationwide ICPD + 15 (International Conference o,nPopulation and Development) Gains and Gaps review process."In India, there is one maternal, death every five minutes, These are preventable deaths. There is no justification for maternal mortality. India has more than 300 maternal deaths for every 100.000 live births. In Sri Lanka, the corresponding figure is 56. in China it is 45. in Namibia. 210 and in Egypt. 130. The biggest cause is discrimination and the lack of equality that prevents women from accessing information and services. However, women should not remain objects of interventions but also be empowered." contends Anand Gover. UN Special Rapporteur on Right to Health.Litigation can become a tool to empower women by making maternal health a right says Jasodhara Dasgupta (in the pic above). member of the steering group for ICPD+ 15 review. "Equity has to become a marker for measuring ·maternal mortality. Less than 50 per cent of women give birth with the assistance of a skilled attendant and only 40 per cent of deliveries occur in an institutional setting. Even access to maternal health varies by state. So while in West Bengal over 90 per cent receive antenatal care. only 34 per cent receive it in ~ihar." she informs.But maternal health is not only about numbers. It is about a woman's dignity and her right to health - two reasons why accountability is needed. Maternal mortality is symptomatic of a deeply ingrained gender inequality. feels Melissa Upreti (In the pic to the right). senior legal advisor of the Centre for Reproductive Rights, an international NGO. "India has -taken many. steps to reduce maternal mortality including the National Rural Health Mission (NRHM). but it lacks effective monitoring and enforcement. This has undermined the country's efforts. Human rights law and the Constitution provide a strong basis for lawyers to demand change and hold the government accountable for maternal deaths." she says.CRR (Center for Reproductive Rights), which uses the law to underline reproductive freedom as a fundamental right to all governments, launched a global initiative in
Silverstone: Brimming with confidence after his top 10 finish in Valencia, Force India driver Adrian Sutil expects the new updates to bridge the gap that separates his team from its maiden Formula One points in Sunday's Belgian Grand Prix at Spa-Francorchamps.After the upgrades debuted in the European Grand Prix, both the V JM02 cars fmished inside top 12 and Sutilrevealed it has indeed made a difference."It was a very simple track, it just goes straight on, so you don't need a lot of downforce. But I think we gained about half a second, and it should be even morein Spa," Sutilsaid.Describing Spa as one of his favourite tracks, the German said Force India might break its point duck there. "Spa I think is our circuit," he said. "We were quite good there last year, andthis year must be much, much better. I'll be happy with a dry weekend. The circuit is amazing in the dry, and our car is now good. I want to see how our update works there," Sutil said.Looking back, Sutil drew lot of confidence from his show in Valencia and said it was great to run wheel-to-wheel with some of the top teams. "I think it was a strong race, and I'm really happy with it. I have done a few other races which were similar and maybe even had a better position. But here almost nobody retired. And it was a dry race, and normally we're strong in the wet races," he explained. PTI
Maria aims to be no. 1 again But Russian Star Downplays Chances At The US Open
0 comments Posted by Tip at 5:13 PMOakland (California): Maria Sharapova has downplayed her chances of winning a second US Open crown this year after returning from shoulder surgery but believes sh.e can go on to regain the world number one spot."With every tournament I feel physically I'm getting better and getting a good sense of the court but it's still a work in progress," the three-times Grand Slam winner said ahead of the fmal major of the season which begins onMonday. "I'd like to forget I was gone for a long time but you have to put things in perspective."The 22-year-old Russian, whoonly returned to singles action in May after a nine-month layoff, said while she would certainly give the US Open her best shot andwas "absolutely" sure of climbing back to the tennis summit."I'm a competitor and have played many tournaments and won quite a few," said Sharapova, who first claimed the world number one spot in 2005. "You want to be the winner and if someone tells you otherwise they wouldn't be telling the truth."While the Russianhas not won any titles since her comeback, she has beaten world number seven Vera Zvonareva, eighth-ranked Victoria Azarenka and number 13 Nadia Petrova and seems to beimproving every week.The Russian reached the LA Championships semis and on Sunday lost the Toronto Cup fmal to compatriot and world number four Elena Dementieva 6-4, 6-3. "I think it was a really great week for me," Sharapova said. REUTERS
Sunday, October 25, 2009
Understanding Forex Technical Analysis For Successful Forex Trading
0 comments Posted by Tip at 6:52 AMWe are going to look at some of the different varieties of charts used in Forex technical analysis and provide some useful guidelines for readings such charts.
Price Charts contain information regarding FOREX prices at specific time intervals. Intervals range anywhere from one minute to several years. Prices are usually displayed in the form of line graphs, and occasionally the change over each given time period is depicted in the form of a bar graph or candlestick graph.
Line graphs are useful for providing a broad overview of price fluctuations over time. They display the closing price at the end of the given time period. Line graphs possess several advantages when compared to other types of graphs: they are are quite easy to understand and they are useful for finding patterns over a long period of time. However, a key disadvantage is that they lack the degree of detail possessed by bar and candlestick graphs.
In contrast, bar graphs provide a greater amount of information than line graphs. The length of each bar demonstrates the price difference for the specific time interval – a longer bar indicates a bigger separation between high prices and low ones. Furthermore, each bar contains two tabs. The left tab on a given bar displays the price at the beginning of an interval, while the right tab demonstrates the price at the end of an interval. Using this system, it is easy to see price fluctuations over a given time interval, and to understand specifics of the variation in price. At times, it can be difficult to read bar graphs which have been condensed and printed on paper, but most computerized graphs usually possess a zoom feature, which makes it easy to see the specifics.
Candlestick graphs originated in Japan, where they were frequently used in order to analyze rice sales. These resemble bar charts in that they indicate prices at the beginning and end of a certain time interval, as well as the peak and low prices over that interval. Furthermore, these charts are color coded, which assists in the ease of understanding. Green candlesticks are associated with increasing prices, while red candlesticks demonstrate decreasing prices.
Candlestick shapes - these shapes, when viewed in comparison with neighboring candlesticks, provide information regarding market fluctuation. This information is helpful in analyzing graphs. Different shapes of candlesticks come as a result of several values: price diffusion, and the disparity between prices at the beginning and end of a given interval. Candlestick patterns have been dubbed names which correlate with their physical shapes; names including 'morning star' and 'dark cloud cover'. When an individual learns these shapes, he or she is easily able to find them on a graph, and utilize this information in identifying tendencies in the current market.
Price graphs are frequently supplemented with various technical indicators. Many of these technical indicators fall into various differing categories. Some of these categories include trend indicators, strength indicators, volatility indicators, and cycle indicators. Each of these indicators is a tool which can be used to predict fluctuations in the market.
Common technical indicators frequently used in FOREX are as follows:
Average Directional Movement Index or ADX for short – this is utilized in to demonstrate if a market is entering an upward or downward trend, and to indicate the strength of the give trend. For the scale usually used by this index, results above 25 indicate a trend with a greater strength than usual.
Moving Average Convergence/Divergence or MACD for short – this demonstrates the current momentum of the market, as well as displaying the relationship between two fluid averages. A strong market is usually demonstrated when the MACD crosses over the signal line.
Stochastic Oscillator – this demonstrates the strength or weakness of a given market by way of comparing a given ending price to a price range over a specific time interval. A stochastic value under 20 demonstrates a currency that is oversold, while a stochastic value over 80 demonstrates a currency that is overbought.
Relative Strength Indicator or RSI for short – this is a scale from 1-100 which indicates the peak and low prices over a specific time interval. A price which falls below 30 is indicative of an oversold commodity, while a price above 70 is indicative of an overbought commodity.
Moving Average – this refers to the average price over a specific time period when that price is compared with other average prices during the same interval. For instance, ending prices over a 6 day interval would have a moving average of the total of the 6 ending prices divided by 6.
Bollinger Bands – these are bands which contain the great majority of a currency's current value. These bands consist of three horizontal lines. The top and bottom lines display fluctuations in price, while the middle line demonstrates the mean price. During time periods when the price is very volatile, the disparity between upper and lower bands increases. Overbought or oversold times are indicated when a bar or candlestick comes into contact with a Bollinger band.
Price Charts contain information regarding FOREX prices at specific time intervals. Intervals range anywhere from one minute to several years. Prices are usually displayed in the form of line graphs, and occasionally the change over each given time period is depicted in the form of a bar graph or candlestick graph.
Line graphs are useful for providing a broad overview of price fluctuations over time. They display the closing price at the end of the given time period. Line graphs possess several advantages when compared to other types of graphs: they are are quite easy to understand and they are useful for finding patterns over a long period of time. However, a key disadvantage is that they lack the degree of detail possessed by bar and candlestick graphs.
In contrast, bar graphs provide a greater amount of information than line graphs. The length of each bar demonstrates the price difference for the specific time interval – a longer bar indicates a bigger separation between high prices and low ones. Furthermore, each bar contains two tabs. The left tab on a given bar displays the price at the beginning of an interval, while the right tab demonstrates the price at the end of an interval. Using this system, it is easy to see price fluctuations over a given time interval, and to understand specifics of the variation in price. At times, it can be difficult to read bar graphs which have been condensed and printed on paper, but most computerized graphs usually possess a zoom feature, which makes it easy to see the specifics.
Candlestick graphs originated in Japan, where they were frequently used in order to analyze rice sales. These resemble bar charts in that they indicate prices at the beginning and end of a certain time interval, as well as the peak and low prices over that interval. Furthermore, these charts are color coded, which assists in the ease of understanding. Green candlesticks are associated with increasing prices, while red candlesticks demonstrate decreasing prices.
Candlestick shapes - these shapes, when viewed in comparison with neighboring candlesticks, provide information regarding market fluctuation. This information is helpful in analyzing graphs. Different shapes of candlesticks come as a result of several values: price diffusion, and the disparity between prices at the beginning and end of a given interval. Candlestick patterns have been dubbed names which correlate with their physical shapes; names including 'morning star' and 'dark cloud cover'. When an individual learns these shapes, he or she is easily able to find them on a graph, and utilize this information in identifying tendencies in the current market.
Price graphs are frequently supplemented with various technical indicators. Many of these technical indicators fall into various differing categories. Some of these categories include trend indicators, strength indicators, volatility indicators, and cycle indicators. Each of these indicators is a tool which can be used to predict fluctuations in the market.
Common technical indicators frequently used in FOREX are as follows:
Average Directional Movement Index or ADX for short – this is utilized in to demonstrate if a market is entering an upward or downward trend, and to indicate the strength of the give trend. For the scale usually used by this index, results above 25 indicate a trend with a greater strength than usual.
Moving Average Convergence/Divergence or MACD for short – this demonstrates the current momentum of the market, as well as displaying the relationship between two fluid averages. A strong market is usually demonstrated when the MACD crosses over the signal line.
Stochastic Oscillator – this demonstrates the strength or weakness of a given market by way of comparing a given ending price to a price range over a specific time interval. A stochastic value under 20 demonstrates a currency that is oversold, while a stochastic value over 80 demonstrates a currency that is overbought.
Relative Strength Indicator or RSI for short – this is a scale from 1-100 which indicates the peak and low prices over a specific time interval. A price which falls below 30 is indicative of an oversold commodity, while a price above 70 is indicative of an overbought commodity.
Moving Average – this refers to the average price over a specific time period when that price is compared with other average prices during the same interval. For instance, ending prices over a 6 day interval would have a moving average of the total of the 6 ending prices divided by 6.
Bollinger Bands – these are bands which contain the great majority of a currency's current value. These bands consist of three horizontal lines. The top and bottom lines display fluctuations in price, while the middle line demonstrates the mean price. During time periods when the price is very volatile, the disparity between upper and lower bands increases. Overbought or oversold times are indicated when a bar or candlestick comes into contact with a Bollinger band.
Forex signals is deemed as one of the most essential factors that are given greater stress and emphasis when you hit the trade market. As a lot of people begin to rely on forex signals to provide them with a clear strategy, so as the search for free forex signals begin. True enough, there are various providers that give free signals however; this is considered short term reliefs since you never know when these free providers are going to pull the plug and the last thing you know everything's over. Therefore, you have to secure a kind of forex signal that will not only allow you to have free access to exchange currency market but also the ways on improving your skills.
Free forex signals served greater purpose of providing traders with the accurate signals that allows them to trail on repeated patterns and through this generate a prediction of how will the currency move. This is of the essence since as you begin to do your trade chances of acquiring a wrong move is inevitable and you will be left with nothing but to go back to square one and try your luck on your next trade. However, with free forex signals, you no longer have to endure anxiousness when trading as accurate signals are transmitted on your database.
Serious forex traders have greatly rely on free forex signals apart from its greater outcome, one of the most gleaned factor is its ability to reward traders with profits that they never imagine they can get. You can also try on investing forex signals and make this your partner for lifetime. As people would prefer to have subscription rather than the free ones it is never difficult to find one for your trade.
Accurate signals have become the indicators of the market's flow and behavior. These signals serve as your eye in the entire course of your foreign exchange dealings. Some of the factors that are provided by the forex signals are forex patterns, currency pairs, breakouts and Fibonacci levels. These are some of the things to look at when you are in a trade. This is precisely the reason why a trader without sufficient knowledge of the market will do no good in his dealings. These signals also provide traders of the idyllic timing when it comes to buying and selling currencies. The forex signal provides you with various information and recommendation if it would be favorable to buy or sell your currency. This type of recommendation is given by your provider or if you employ a broker then you most likely receive signals through an agent.
Forex signals are generally given on a daily updated basis and all are contingent on factual market analysis and behavioral flow and not on mere hearsays and other speculations.Looking at the practical side, it would be a best option to go by free forex signals however, if you have the financial means to fund a subscription then you may acquire for one. But regardless of it being free or not, the underlying principle relies on the fact that forex signals are your way towards unleashing the secrets of forex trading
Free forex signals served greater purpose of providing traders with the accurate signals that allows them to trail on repeated patterns and through this generate a prediction of how will the currency move. This is of the essence since as you begin to do your trade chances of acquiring a wrong move is inevitable and you will be left with nothing but to go back to square one and try your luck on your next trade. However, with free forex signals, you no longer have to endure anxiousness when trading as accurate signals are transmitted on your database.
Serious forex traders have greatly rely on free forex signals apart from its greater outcome, one of the most gleaned factor is its ability to reward traders with profits that they never imagine they can get. You can also try on investing forex signals and make this your partner for lifetime. As people would prefer to have subscription rather than the free ones it is never difficult to find one for your trade.
Accurate signals have become the indicators of the market's flow and behavior. These signals serve as your eye in the entire course of your foreign exchange dealings. Some of the factors that are provided by the forex signals are forex patterns, currency pairs, breakouts and Fibonacci levels. These are some of the things to look at when you are in a trade. This is precisely the reason why a trader without sufficient knowledge of the market will do no good in his dealings. These signals also provide traders of the idyllic timing when it comes to buying and selling currencies. The forex signal provides you with various information and recommendation if it would be favorable to buy or sell your currency. This type of recommendation is given by your provider or if you employ a broker then you most likely receive signals through an agent.
Forex signals are generally given on a daily updated basis and all are contingent on factual market analysis and behavioral flow and not on mere hearsays and other speculations.Looking at the practical side, it would be a best option to go by free forex signals however, if you have the financial means to fund a subscription then you may acquire for one. But regardless of it being free or not, the underlying principle relies on the fact that forex signals are your way towards unleashing the secrets of forex trading
Forex Training Education - Learn How to Become a Professional Forex Trader!
0 comments Posted by Tip at 6:50 AMForex training education is one of the most sought after training course formulated and specifically tailored for those who want to learn the true dealings of the trade. This becomes popular to a lot of aspiring traders, novice and even professionals. As everyone knows how the trade can move to an intensified state down to its fluctuation, it can never be gleaned that forex trading is an easy market. Reality check, it is not an uncomplicated market however, you can formulate ways on how to weather a complex market into something that will turn all the intricacies and risks as part of a challenging course and in the long run to your advantage.
When you finally come to the conclusion of undergoing forex training education, you will realize that this is something worthwhile as you begin with an investment that you will be carrying on in the duration of your trade and in your future transactions. One might come to ask, what could possibly be the best formula to gain more profit? The answer is simple, learn through forex course training education and be able to apply all the things that you have learned in your actual trade.
Forex training education has a lot of things to offer in helping you become a professional trader. You have to start off in searching for the best and the finest online courses on the net. There are multiplicities of selections provided for those who want to gain further knowledge in the areas of forex market and you will surely come up with the most efficient ones. You can also go by other forex trade software that consists of forex autopilot and forex robots. This software generate favorable outcome and constructive feedback as expediency becomes its major point. When you acquire a forex autopilot or robot, you will no longer have to do the monitoring 24/7 for the forex autopilot will be the one to do all the things that you once been doing. This software will also send forex signals on your database indicating if it is a perfect time to buy, sell or hold your currencies.
Forex training education is also comprise of demo accounts that can serve as your online resources. You can also create an account where you will be given a trial trade with no capital involve until such time that you are ready to face the inner circle and do your first trade at once. Added to this, is the significance of learning forex languages that will also play a big part in your dealings. Terminologies such as hedge, pips, currency pairs, quote currency, base currency, cross currency and the major and minor currency. The chances of coming across with these terms are viable.
Keep in mind that, forex training education should not rest once you get yourself in the forex market circle. Just like any other venture, a continuous learning process is essential to make way for greater challenges to overcome, profits to take pleasure and in due time a professional trader in your own right.
When you finally come to the conclusion of undergoing forex training education, you will realize that this is something worthwhile as you begin with an investment that you will be carrying on in the duration of your trade and in your future transactions. One might come to ask, what could possibly be the best formula to gain more profit? The answer is simple, learn through forex course training education and be able to apply all the things that you have learned in your actual trade.
Forex training education has a lot of things to offer in helping you become a professional trader. You have to start off in searching for the best and the finest online courses on the net. There are multiplicities of selections provided for those who want to gain further knowledge in the areas of forex market and you will surely come up with the most efficient ones. You can also go by other forex trade software that consists of forex autopilot and forex robots. This software generate favorable outcome and constructive feedback as expediency becomes its major point. When you acquire a forex autopilot or robot, you will no longer have to do the monitoring 24/7 for the forex autopilot will be the one to do all the things that you once been doing. This software will also send forex signals on your database indicating if it is a perfect time to buy, sell or hold your currencies.
Forex training education is also comprise of demo accounts that can serve as your online resources. You can also create an account where you will be given a trial trade with no capital involve until such time that you are ready to face the inner circle and do your first trade at once. Added to this, is the significance of learning forex languages that will also play a big part in your dealings. Terminologies such as hedge, pips, currency pairs, quote currency, base currency, cross currency and the major and minor currency. The chances of coming across with these terms are viable.
Keep in mind that, forex training education should not rest once you get yourself in the forex market circle. Just like any other venture, a continuous learning process is essential to make way for greater challenges to overcome, profits to take pleasure and in due time a professional trader in your own right.
Saturday, October 24, 2009
The National Multi Commodity Exchange (NMCE) will launch 8 gm and 10 gm gold futures’ contracts in August, Chief Executive Officer Anil Mishra said today. The move is aimed at increasing the share of bullion trade in the bourse's annual turnover.
Mishra said the new monthly contracts are specially designed to meet the requirements of the untapped retail market. “Other exchanges have gold contracts which are meant for speculators or large traders. Existing gold futures are not meant for jewellers who want to trade in futures but cannot invest much. Our new contracts are small in denomination which is highly in demand in retail segment,” Mishra said at a press meet here.
The official said the bourse is in negotiations with a logistics company to open delivery centres across the country for these bullion contracts. “Initially, we will open four to five delivery centres in large cities. However, depending on the response and requirements, we are ready to scale up the number of centres to 1,000. We have already identified around 1,000 locations across the country,” Mishra said.
Mishra said the management of the bourse is aware that its performance in the bullion segment is weaker than other exchanges but the new contracts will help the bourse grow in this segment.
“Bullion contributed just 10 per cent in our total turnover in 2008-09 (Apr-Mar) of over Rs 1,22,900 crore, while the rest of the trade came from agri futures. We are looking at increasing our bullion trade share to 25 per cent of the total turnover,” Mishra said.
Mishra said the new monthly contracts are specially designed to meet the requirements of the untapped retail market. “Other exchanges have gold contracts which are meant for speculators or large traders. Existing gold futures are not meant for jewellers who want to trade in futures but cannot invest much. Our new contracts are small in denomination which is highly in demand in retail segment,” Mishra said at a press meet here.
The official said the bourse is in negotiations with a logistics company to open delivery centres across the country for these bullion contracts. “Initially, we will open four to five delivery centres in large cities. However, depending on the response and requirements, we are ready to scale up the number of centres to 1,000. We have already identified around 1,000 locations across the country,” Mishra said.
Mishra said the management of the bourse is aware that its performance in the bullion segment is weaker than other exchanges but the new contracts will help the bourse grow in this segment.
“Bullion contributed just 10 per cent in our total turnover in 2008-09 (Apr-Mar) of over Rs 1,22,900 crore, while the rest of the trade came from agri futures. We are looking at increasing our bullion trade share to 25 per cent of the total turnover,” Mishra said.
NEW YORK, July 23 (Reuters) - New York gold futures
finished higher on Thursday as strong U.S. housing data fueled
economic optimism, and a new U.S. silver-backed exchange-traded
fund could lift the precious metals complex.
For the latest detailed report, click on [GOL/].
GOLD
* August GCQ9 settled up $1.50 at $954.80 an ounce on the
COMEX division of the New York Mercantile Exchange.
* Trading between $948.20 and $957.50.
* Wall Street rallied nearly 3 percent after data showed
U.S. sales of previously owned homes increased at a
faster-than-expected annual pace in June, in the third straight
month of gains. [ID:nN23387481]
* Dow Jones industrial average rose above 9,000 for the
first time since early January.
* Hopes of economic recovery underpin gold rally. Earlier
this year, gold prices were pressured by deflation fears amid a
possible prolonged global recession.
* Dennis Gartman, independent investor and publisher of the
daily Gartman Letter, said he will likely to buy more gold, and
he will add to his long positions if spot bullion rose above
$955.
* However, forward production hedging by gold producers
could cap gold's gain over $955 an ounce - Gartman.
* COMEX estimated final volume at a heavy 140,658 lots.
* Gold/oil ratio 14.12, against 14.64 in the previous
session.
* Spot gold XAU= traded at $950.30 an ounce at 3:30 p.m.
EDT (1930 GMT), against $950.40 in its previous session
finish.
* London gold fix XAUFIX= at $950 an ounce.
SILVER
* September SIU9 finished up 7 cents at $13.770 an ounce
as a new U.S. silver ETF and better macroeconomic sentiment
lifted silver's appeal as an industrial metal.
* Ranging $13.610 to $13.845.
* ETFS Silver Trust SIVR, the U.S. unit of London-based
ETF Securities, has issued shares backed by physical silver
bullion to be traded on the New York Stock Exchange - SEC
filing. [ID:nLN674579]
* The move has created a buzz in the precious metals sector
because ETF Securities had also in April filed to launch the
first-ever U.S. platinum exchange-traded fund, which could be a
boost to the price of platinum if it clears regulatory hurdle.
* COMEX estimated final volume at 16,945 lots.
* Spot silver XAG= $13.75 an ounce, compared with its
previous close of $13.68.
* London silver fix XAGFIX= at $13.76 an ounce.
PLATINUM
* October PLV9 ended up $12.30, or 1.1 percent, at
$1,188.0 an ounce as the market focused on better platinum
autocatalyst demand on hopes that the auto production would
rebound.
* Spot platinum XPT= at $1,176 an ounce against its
$1,172 previous session's close.
PALLADIUM
* September PAU9 closed up $4.05, or 1.6 percent, at
$260.20 an ounce, tracking on platinum's gains.
* Spot palladium XPD= was at $255.50 an ounce, compared
with $252.50 in its previous finish. (Reporting by Frank Tang; Editing by David Gregorio
finished higher on Thursday as strong U.S. housing data fueled
economic optimism, and a new U.S. silver-backed exchange-traded
fund could lift the precious metals complex.
For the latest detailed report, click on [GOL/].
GOLD
* August GCQ9 settled up $1.50 at $954.80 an ounce on the
COMEX division of the New York Mercantile Exchange.
* Trading between $948.20 and $957.50.
* Wall Street rallied nearly 3 percent after data showed
U.S. sales of previously owned homes increased at a
faster-than-expected annual pace in June, in the third straight
month of gains. [ID:nN23387481]
* Dow Jones industrial average rose above 9,000 for the
first time since early January.
* Hopes of economic recovery underpin gold rally. Earlier
this year, gold prices were pressured by deflation fears amid a
possible prolonged global recession.
* Dennis Gartman, independent investor and publisher of the
daily Gartman Letter, said he will likely to buy more gold, and
he will add to his long positions if spot bullion rose above
$955.
* However, forward production hedging by gold producers
could cap gold's gain over $955 an ounce - Gartman.
* COMEX estimated final volume at a heavy 140,658 lots.
* Gold/oil ratio 14.12, against 14.64 in the previous
session.
* Spot gold XAU= traded at $950.30 an ounce at 3:30 p.m.
EDT (1930 GMT), against $950.40 in its previous session
finish.
* London gold fix XAUFIX= at $950 an ounce.
SILVER
* September SIU9 finished up 7 cents at $13.770 an ounce
as a new U.S. silver ETF and better macroeconomic sentiment
lifted silver's appeal as an industrial metal.
* Ranging $13.610 to $13.845.
* ETFS Silver Trust SIVR, the U.S. unit of London-based
ETF Securities, has issued shares backed by physical silver
bullion to be traded on the New York Stock Exchange - SEC
filing. [ID:nLN674579]
* The move has created a buzz in the precious metals sector
because ETF Securities had also in April filed to launch the
first-ever U.S. platinum exchange-traded fund, which could be a
boost to the price of platinum if it clears regulatory hurdle.
* COMEX estimated final volume at 16,945 lots.
* Spot silver XAG= $13.75 an ounce, compared with its
previous close of $13.68.
* London silver fix XAGFIX= at $13.76 an ounce.
PLATINUM
* October PLV9 ended up $12.30, or 1.1 percent, at
$1,188.0 an ounce as the market focused on better platinum
autocatalyst demand on hopes that the auto production would
rebound.
* Spot platinum XPT= at $1,176 an ounce against its
$1,172 previous session's close.
PALLADIUM
* September PAU9 closed up $4.05, or 1.6 percent, at
$260.20 an ounce, tracking on platinum's gains.
* Spot palladium XPD= was at $255.50 an ounce, compared
with $252.50 in its previous finish. (Reporting by Frank Tang; Editing by David Gregorio
TOKYO (Reuters) - Gold prices inched up on Friday but were off a six-week high hit the previous day, with investors eyeing the dollar and stocks for direction as growing recovery hopes fuel inflation concerns and boost bullion's appeal as a hedge.
Gold may also benefit from broad strength in commodities as investor risk appetite grows with the rally in equities markets.
Traders said activity was subdued but that they were looking at stock markets, oil prices, the dollar and how overseas markets develop later in the day to determine whether gold can advance toward $960 levels, which they said was the near-term resistance level.
"Risk appetite seems to have picked up quite a bit as seen in rising stock markets," said Adrian Koh, an analyst at Phillip Futures in Singapore.
"If we are looking at gold from a commodities point of view (including oil), then an increase in risk appetite could also support gold prices, as people would tend to buy riskier assets such as commodities," he said.
But if investors view gold as a safe-haven, then a rise in risk appetite would weigh on gold.
"But I guess the former is predominant for now," he said.
Spot gold edged up 0.2 percent to $948.80 per ounce as of 0306 GMT, compared with New York's notional close of $947.15 per ounce on
Gold may also benefit from broad strength in commodities as investor risk appetite grows with the rally in equities markets.
Traders said activity was subdued but that they were looking at stock markets, oil prices, the dollar and how overseas markets develop later in the day to determine whether gold can advance toward $960 levels, which they said was the near-term resistance level.
"Risk appetite seems to have picked up quite a bit as seen in rising stock markets," said Adrian Koh, an analyst at Phillip Futures in Singapore.
"If we are looking at gold from a commodities point of view (including oil), then an increase in risk appetite could also support gold prices, as people would tend to buy riskier assets such as commodities," he said.
But if investors view gold as a safe-haven, then a rise in risk appetite would weigh on gold.
"But I guess the former is predominant for now," he said.
Spot gold edged up 0.2 percent to $948.80 per ounce as of 0306 GMT, compared with New York's notional close of $947.15 per ounce on
SYDNEY -(Dow Jones)- Newmont Mining Corp. (NEM) has started up its Boddington gold mine in Western Australia with a slight delay due to wet weather and falling workers' productivity, the world's second largest gold miner said in its second quarter results Friday.
"(The) planned startup is continuing, despite being adversely affected by wet weather and a recent decline in contracted workforce productivity associated with the industrywide economic slowdown," Newmont said in a statement.
At full production, Boddington, about 130 kilometers southeast of Perth, will be Australia's largest gold mine, and ramp up is expected to take 12 months. Eventual capital costs are expected around US$2.6 billion to US$2.9 billion.
The mine will produce around 1 million troy ounces during its first five years of operation at average cash costs of US$300/oz including byproduct credits.
In June, Newmont bought the remaining 33.33% interest in the project it didn't already own from AngloGold Ashanti Ltd. for about US$1.1 billion.
-By Elisabeth Behrmann, Dow Jones Newswires
Lightweight jewels shine as gold gets costlier
With gold prices now scaling new highs and affecting the demand for jewellery, manufacturers are devising new ways to propel demand and attract customers. Today, lightweight jewellery seems to be in vogue and new designs that fuse gold and diamond with other metals like steel, tungsten, titanium form the new offering. Jewellers are also making use of coloured stones to make affordable pieces of jewellery pieces in an attempt to revive demand. The price of gold is up by over 20% at Rs 15,000 per 10 gram levels compared to last years’ average price of Rs 12,147. Demand for gold has taken a hit in India, a market that is considered price-sensitive . According to estimates from the World Gold Council, demand for the first quarter of the current year fell 83% to 17.7 tonnes compared to the corresponding period last year. Vinod Hayagriv, Chairman, All India Gems & Jewellery Trade Federation says there is fluctuation in gold purchases apart from a drop in the quantum of gold being purchased. “I have seen few companies who are moving towards offering the option of diamond jewellery studded in metals like steel, titanium, tungsten,” he said. He is quick to add that these metals cannot be used as a replacement for gold but are instead added in the jewellery portfolio of companies . Mr Hayagriv’s jewellery outlets, C Krishniah Chetty & Sons has been offering diamond jewellery studded in high end steel with one to 40 pieces of diamonds. “They are in the price range of Rs 3,500-15 ,000 and are always a part of diamond portfolio,” Mr Hayagriv adds. Mumbai based KT Group, the promoters of prominent gold chain brand “Chain N Chains” , Timond luxury watches and Raa diamond Jewellery will soon launch their fusion jewellery brand , ‘Arma.’ K T Group chief operating officer Tejas Soni said the company has used 316L (low carbide ) high end steel. “The use of imported steel from Taiwan with gold and diamond brings down the cost. This range is sold in the Rs 1000-Rs 5000 price range,” he said. Arma Jewellery will carry a 18 carat gold and 3-4 pieces of diamond and steel. The hallmark jewellery comes with a buy-back guarantee at 50% of its value and will be made available in 500 retail outlets in two years. Most jewellers, like those in Mumbai’s Zaveri Bazaar have increased their inventories for light weight jewellery and jewellery that uses coloured stones. Coloured stones, they say, reduce the content of gold and brings down the costs. Deepak Tulsiani from Dwarkadas Chandumal Jewellers says that even the concept of hollow casting is gaining ground as it makes jewellery look heavy while it is actually hollow from inside and is less expensive
"(The) planned startup is continuing, despite being adversely affected by wet weather and a recent decline in contracted workforce productivity associated with the industrywide economic slowdown," Newmont said in a statement.
At full production, Boddington, about 130 kilometers southeast of Perth, will be Australia's largest gold mine, and ramp up is expected to take 12 months. Eventual capital costs are expected around US$2.6 billion to US$2.9 billion.
The mine will produce around 1 million troy ounces during its first five years of operation at average cash costs of US$300/oz including byproduct credits.
In June, Newmont bought the remaining 33.33% interest in the project it didn't already own from AngloGold Ashanti Ltd. for about US$1.1 billion.
-By Elisabeth Behrmann, Dow Jones Newswires
Lightweight jewels shine as gold gets costlier
With gold prices now scaling new highs and affecting the demand for jewellery, manufacturers are devising new ways to propel demand and attract customers. Today, lightweight jewellery seems to be in vogue and new designs that fuse gold and diamond with other metals like steel, tungsten, titanium form the new offering. Jewellers are also making use of coloured stones to make affordable pieces of jewellery pieces in an attempt to revive demand. The price of gold is up by over 20% at Rs 15,000 per 10 gram levels compared to last years’ average price of Rs 12,147. Demand for gold has taken a hit in India, a market that is considered price-sensitive . According to estimates from the World Gold Council, demand for the first quarter of the current year fell 83% to 17.7 tonnes compared to the corresponding period last year. Vinod Hayagriv, Chairman, All India Gems & Jewellery Trade Federation says there is fluctuation in gold purchases apart from a drop in the quantum of gold being purchased. “I have seen few companies who are moving towards offering the option of diamond jewellery studded in metals like steel, titanium, tungsten,” he said. He is quick to add that these metals cannot be used as a replacement for gold but are instead added in the jewellery portfolio of companies . Mr Hayagriv’s jewellery outlets, C Krishniah Chetty & Sons has been offering diamond jewellery studded in high end steel with one to 40 pieces of diamonds. “They are in the price range of Rs 3,500-15 ,000 and are always a part of diamond portfolio,” Mr Hayagriv adds. Mumbai based KT Group, the promoters of prominent gold chain brand “Chain N Chains” , Timond luxury watches and Raa diamond Jewellery will soon launch their fusion jewellery brand , ‘Arma.’ K T Group chief operating officer Tejas Soni said the company has used 316L (low carbide ) high end steel. “The use of imported steel from Taiwan with gold and diamond brings down the cost. This range is sold in the Rs 1000-Rs 5000 price range,” he said. Arma Jewellery will carry a 18 carat gold and 3-4 pieces of diamond and steel. The hallmark jewellery comes with a buy-back guarantee at 50% of its value and will be made available in 500 retail outlets in two years. Most jewellers, like those in Mumbai’s Zaveri Bazaar have increased their inventories for light weight jewellery and jewellery that uses coloured stones. Coloured stones, they say, reduce the content of gold and brings down the costs. Deepak Tulsiani from Dwarkadas Chandumal Jewellers says that even the concept of hollow casting is gaining ground as it makes jewellery look heavy while it is actually hollow from inside and is less expensive
ROME — Olympic champion He Chong held his nerve on his final dive to take the gold medal at the World Championships here on Thursday.
He came into the final round of dives in the lead but picked a trickier dive than his rivals.
Although he did not execute a perfect dive, it was just enough to push American Troy Dumais and Canadian Alexandre Despatie into second and third respectively.
The podium was an exact reverse of the worlds in Montreal four years ago.
Afterwards the Olympic champion said he could have done better overall.
"I'm satisfied even though I made a few mistakes and some of my movements weren't perfect. I felt a bit nervous," He said.
"I think it was an average performance. The level of difficulty of my dives was quite high. I didn't have a particularly bad dive, I just think I could have done better on all of them."
He's team-mate Zhang Xinhua finished fourth with Australia's Olympic 10m champion Matthew Mitcham in ninth.
He held the lead in the competition after every dive except the second round when he made a mistake and Dumais overtook him.
However, the American made a hash of his third dive, scoring a lowly 67.50 while He posted a 91.80 and Dumais was playing catch-up from there.
"Silver is great but I know I can do better. I didn't feel pressure going into the last dive because back home we practise this last dive all the time," said Dumais, who matched his result from 2005 in Montreal.
"My coach gives me a score to aim for and that keeps it fun and real. He has great faith in me and this is why I came into this event mentally strong."
Despatie got off to a slow start with a 72.00 that left him in seventh place but four dives in the mid-to-late 80s pushed him into gold medal contention.
But the 2005 champion had a poor last dive compared to He and Dumais and had to settle for the bronze medal.
"That was average for me, I needed to do better on the last dive, I wish it had been better," he said.
"I have had two bronze medals at this championship (he also took bronze in the 3m synchro) and that's a good result considering the injuries I've had this year."
But He deserved his victory with the only total score over 500, managing 505.20.
Despatie had topped the semi-final standings with Dumais top in Wednesday's preliminaries but He saved his best for the final.
He came into the final round of dives in the lead but picked a trickier dive than his rivals.
Although he did not execute a perfect dive, it was just enough to push American Troy Dumais and Canadian Alexandre Despatie into second and third respectively.
The podium was an exact reverse of the worlds in Montreal four years ago.
Afterwards the Olympic champion said he could have done better overall.
"I'm satisfied even though I made a few mistakes and some of my movements weren't perfect. I felt a bit nervous," He said.
"I think it was an average performance. The level of difficulty of my dives was quite high. I didn't have a particularly bad dive, I just think I could have done better on all of them."
He's team-mate Zhang Xinhua finished fourth with Australia's Olympic 10m champion Matthew Mitcham in ninth.
He held the lead in the competition after every dive except the second round when he made a mistake and Dumais overtook him.
However, the American made a hash of his third dive, scoring a lowly 67.50 while He posted a 91.80 and Dumais was playing catch-up from there.
"Silver is great but I know I can do better. I didn't feel pressure going into the last dive because back home we practise this last dive all the time," said Dumais, who matched his result from 2005 in Montreal.
"My coach gives me a score to aim for and that keeps it fun and real. He has great faith in me and this is why I came into this event mentally strong."
Despatie got off to a slow start with a 72.00 that left him in seventh place but four dives in the mid-to-late 80s pushed him into gold medal contention.
But the 2005 champion had a poor last dive compared to He and Dumais and had to settle for the bronze medal.
"That was average for me, I needed to do better on the last dive, I wish it had been better," he said.
"I have had two bronze medals at this championship (he also took bronze in the 3m synchro) and that's a good result considering the injuries I've had this year."
But He deserved his victory with the only total score over 500, managing 505.20.
Despatie had topped the semi-final standings with Dumais top in Wednesday's preliminaries but He saved his best for the final.
July 24 (Bloomberg) -- China may overtake India to become the world’s top gold consumer this year, the World Gold Council said, as the nation became the first of the major economies to rebound from the global recession.
Jewelry demand in China expanded in the first quarter while dropping in India, Marcus Grubb, a managing director at the London-based council, said today at a conference in Hong Kong. Chinese gold demand will keep rising, he said.
China’s economy grew 7.9 percent in the second quarter after a 4 trillion yuan ($586 billion) stimulus package spurred record lending and consumption. India’s gold purchases slumped 54 percent in the six months ended June after a decline in the rupee pushed up the cost of owning bullion, cooling demand from housewives and jewelers, the Bombay Bullion Association said.
“There is a possibility that China might overtake India as the world’s largest gold consumer this year,” Hou Huimin, deputy head of the China Gold Association, said by phone from Beijing today. “India’s gold consumption is reportedly dropping this year due to the financial crisis.”
Total demand from India in the first quarter fell 83 percent to 17.7 metric tons, from 107.2 tons a year earlier, according to figures from the World Gold Council. Purchases in China rose 1.8 percent to 105.2 tons from 103.3 tons. Total Chinese demand for gold was six times that of India in the first quarter, the council said in May.
‘Consumption Growing’
“China’s consumption is growing and this year’s will surely be more than last year’s,” Hou said.
China consumed nearly 400 metric tons of gold last year, while demand in India was more than 650 tons, according to council data, which cited statistics from GFMS Ltd. Global demand rose 3.8 percent to 3,658.6 tons, or $101.8 billion, the council said Feb. 18.
Bullion prices have gained 7.6 percent this year as the global recession spurred demand for safe haven assets. Gold for immediate delivery was unchanged at $949.15 an ounce at 1:12 p.m. in Hong Kong.
China, the world’s biggest gold producer, has increased reserves by 76 percent to 1,054 tons since 2003 and has the world’s fifth-biggest holdings by country, Hu Xiaolian, head of the State Administration of Foreign Exchange, said in April.
Gold imports by India in the six months ended June 30 plunged to 63.8 tons from 139 tons a year earlier, the Bombay Bullion Association said July 13. Imports may fall further after the government doubled the import duty this month, it said.
‘Drastic Fall’
“India’s gold demand as reflected in imports have fallen drastically in the first six months,” Harmesh Arora, vice president of the Indian association said today in phone interview from Mumbai. “There are still no signs of demand picking up as global prices are moving higher,” said Arora, who also believes China could overtake India in gold consumption.
Still, India meets most of its demand from imports, some of which are brought in through unofficial channels and are not represented in official data, said Mukul Sonawale, partner of Mumbai-based Narrondass Manordass Co. and a past president of the Bombay Bullion Association.
“China can emerge as the world’s biggest consumer only on paper,” he said. “The official figures of imports will be quite deceiving as they don’t capture all the imports. With India doubling the import duty on gold, the unofficial channel is bound to increase.”
To contact the reporter on this story: Sophie Leung in Hong Kong at
Jewelry demand in China expanded in the first quarter while dropping in India, Marcus Grubb, a managing director at the London-based council, said today at a conference in Hong Kong. Chinese gold demand will keep rising, he said.
China’s economy grew 7.9 percent in the second quarter after a 4 trillion yuan ($586 billion) stimulus package spurred record lending and consumption. India’s gold purchases slumped 54 percent in the six months ended June after a decline in the rupee pushed up the cost of owning bullion, cooling demand from housewives and jewelers, the Bombay Bullion Association said.
“There is a possibility that China might overtake India as the world’s largest gold consumer this year,” Hou Huimin, deputy head of the China Gold Association, said by phone from Beijing today. “India’s gold consumption is reportedly dropping this year due to the financial crisis.”
Total demand from India in the first quarter fell 83 percent to 17.7 metric tons, from 107.2 tons a year earlier, according to figures from the World Gold Council. Purchases in China rose 1.8 percent to 105.2 tons from 103.3 tons. Total Chinese demand for gold was six times that of India in the first quarter, the council said in May.
‘Consumption Growing’
“China’s consumption is growing and this year’s will surely be more than last year’s,” Hou said.
China consumed nearly 400 metric tons of gold last year, while demand in India was more than 650 tons, according to council data, which cited statistics from GFMS Ltd. Global demand rose 3.8 percent to 3,658.6 tons, or $101.8 billion, the council said Feb. 18.
Bullion prices have gained 7.6 percent this year as the global recession spurred demand for safe haven assets. Gold for immediate delivery was unchanged at $949.15 an ounce at 1:12 p.m. in Hong Kong.
China, the world’s biggest gold producer, has increased reserves by 76 percent to 1,054 tons since 2003 and has the world’s fifth-biggest holdings by country, Hu Xiaolian, head of the State Administration of Foreign Exchange, said in April.
Gold imports by India in the six months ended June 30 plunged to 63.8 tons from 139 tons a year earlier, the Bombay Bullion Association said July 13. Imports may fall further after the government doubled the import duty this month, it said.
‘Drastic Fall’
“India’s gold demand as reflected in imports have fallen drastically in the first six months,” Harmesh Arora, vice president of the Indian association said today in phone interview from Mumbai. “There are still no signs of demand picking up as global prices are moving higher,” said Arora, who also believes China could overtake India in gold consumption.
Still, India meets most of its demand from imports, some of which are brought in through unofficial channels and are not represented in official data, said Mukul Sonawale, partner of Mumbai-based Narrondass Manordass Co. and a past president of the Bombay Bullion Association.
“China can emerge as the world’s biggest consumer only on paper,” he said. “The official figures of imports will be quite deceiving as they don’t capture all the imports. With India doubling the import duty on gold, the unofficial channel is bound to increase.”
To contact the reporter on this story: Sophie Leung in Hong Kong at
TOKYO (Reuters) - Gold prices inched up on Friday but were off a six-week high hit the previous day, with investors eyeing the dollar and stocks for direction as growing recovery hopes fuel inflation concerns and boost bullion's appeal as a hedge.
Gold may also benefit from broad strength in commodities as investor risk appetite grows with the rally in equities markets.
Traders said activity was subdued but that they were looking at stock markets, oil prices, the dollar and how overseas markets develop later in the day to determine whether gold can advance toward $960 levels, which they said was the near-term resistance level.
"Risk appetite seems to have picked up quite a bit as seen in rising stock markets," said Adrian Koh, an analyst at Phillip Futures in Singapore.
"If we are looking at gold from a commodities point of view (including oil), then an increase in risk appetite could also support gold prices, as people would tend to buy riskier assets such as commodities," he said.
But if investors view gold as a safe-haven, then a rise in risk appetite would weigh on gold.
"But I guess the former is predominant for now," he said.
Spot gold edged up 0.2 percent to $948.80 per ounce as of 0306 GMT, compared with New York's notional close of $947.15 per ounce o
India gold futures tread water on dollar
MUMBAI (Reuters) - India gold futures treaded water on Thursday as the dollar stayed near its seven-week low against a basket of currencies, analysts said.
The most-active August gold contract was 0.04 percent higher at 14,945 rupees per 10 grams at 11:05 a.m.
The dollar hovered close to a seven-week low as steady stock markets and stronger U.S. home prices offset weak bank earnings and dented the greenback's safe-haven allure.
Gold is considered as an alternative asset to the U.S. currency.
"Gold may be on the higher side later supported by weak dollar and firm crude. The resistance is placed at 15,000 rupees," said Aurobinda Prasad, deputy manager-research, Karvy Comtrade.
Investors would also await jobless claims data from the U.S. to gauge direction in the precious metals complex.
Gold may be in the range of 14,880-15,00 rupees, said Kunal Shah, analyst with Nirmal Bang Commodities.
Open interest for August gold on MCX was at 12,985 lots, down from 13,175 a day earlier. Volume on Wednesday was 25.31 kg
Gold may also benefit from broad strength in commodities as investor risk appetite grows with the rally in equities markets.
Traders said activity was subdued but that they were looking at stock markets, oil prices, the dollar and how overseas markets develop later in the day to determine whether gold can advance toward $960 levels, which they said was the near-term resistance level.
"Risk appetite seems to have picked up quite a bit as seen in rising stock markets," said Adrian Koh, an analyst at Phillip Futures in Singapore.
"If we are looking at gold from a commodities point of view (including oil), then an increase in risk appetite could also support gold prices, as people would tend to buy riskier assets such as commodities," he said.
But if investors view gold as a safe-haven, then a rise in risk appetite would weigh on gold.
"But I guess the former is predominant for now," he said.
Spot gold edged up 0.2 percent to $948.80 per ounce as of 0306 GMT, compared with New York's notional close of $947.15 per ounce o
India gold futures tread water on dollar
MUMBAI (Reuters) - India gold futures treaded water on Thursday as the dollar stayed near its seven-week low against a basket of currencies, analysts said.
The most-active August gold contract was 0.04 percent higher at 14,945 rupees per 10 grams at 11:05 a.m.
The dollar hovered close to a seven-week low as steady stock markets and stronger U.S. home prices offset weak bank earnings and dented the greenback's safe-haven allure.
Gold is considered as an alternative asset to the U.S. currency.
"Gold may be on the higher side later supported by weak dollar and firm crude. The resistance is placed at 15,000 rupees," said Aurobinda Prasad, deputy manager-research, Karvy Comtrade.
Investors would also await jobless claims data from the U.S. to gauge direction in the precious metals complex.
Gold may be in the range of 14,880-15,00 rupees, said Kunal Shah, analyst with Nirmal Bang Commodities.
Open interest for August gold on MCX was at 12,985 lots, down from 13,175 a day earlier. Volume on Wednesday was 25.31 kg
MUMBAI (Reuters) - India's gold buying remained slack in the local market on Friday with traders reluctant to enter into deals as spot prices stayed above the keenly-watched 15,000 rupees, dealers said.
"Traders are feeling uncomfortable to bid gold at 15,000 rupees," said a dealer with a private bank in Mumbai.
Scoatia Mocatta quoted gold at 15,100 rupees per 10 grams as against 15,180 rupees on Thursday.
A seasonal slack period is underway in India for gold trade due to monsoons, when fewer weddings takes place.
Dealers expect buying to revive by August-end, when traders would seek to replenish stock for the festival season.
"Demand would pick-up again if prices fall to $930 an ounce," said another dealer with a state-run bank.
"Traders are feeling uncomfortable to bid gold at 15,000 rupees," said a dealer with a private bank in Mumbai.
Scoatia Mocatta quoted gold at 15,100 rupees per 10 grams as against 15,180 rupees on Thursday.
A seasonal slack period is underway in India for gold trade due to monsoons, when fewer weddings takes place.
Dealers expect buying to revive by August-end, when traders would seek to replenish stock for the festival season.
"Demand would pick-up again if prices fall to $930 an ounce," said another dealer with a state-run bank.
With CAT 2009 just round the corner, scores of MBA aspirants are still writing to MBAUniverse.com every day asking questions about the schedule of CAT 2009, exam methodology, and how to prepare for CAT 2009. We at MBAUiverse.com decided to cull out the key frequently asked questions, and answer them w
ith the help of our panel of inputs provided by IIMs, testing company Prometric, CAT & MBA experts
According to the information available with MBAUniverse.com, CAT entrance exam for 2009 is going to be held during a ten-day window starting from November 28 to December 7, 2009. While the IIMs have not released this information formally, MBAUniverse.com has learnt about these dates from reliable sources. We broke the news of these dates on June 26
In fact, IIM Ahmedabad on July 1, 2009, confirmed the dates indirectly. According to the IIM Ahmedabad website, CAT 2009 will be conducted during a ten-day window starting at the end of November 2009. (Click on this link to read the official IIM Ahmedabad document
According to IIMs, you have to buy the CAT 2009 voucher from the designated locations/bank branches after the advertisement appears in the newspapers. Candidate Testing Fee has been fixed at Rs. 1400 for general and Rs. 700 for SC/ST candidates. After registering yourself for the CAT entrance exam at their website, you will receive an email containing CAT 2009 Admit Card. Please ensure you have a valid email id.
From 2009, CAT entrance exam is going to be a computer-based test and it has been formally announced by the IIMs. Instead of reading the questions on a paper booklet and darkening the ovals on the answer-sheet, you will read the questions on a computer terminal and choose the answer by clicking a mouse. The format of the test will remain more or less the same. You can only take the test at designated test venues. At the test venue, you will be seated at a desk with a computer terminal and will be provided with a writing pad with numbered pages for calculations. This pad will be retained by the examiners. In order to familiarize yourself with the computer-based CAT exam, you should take more and more computer-based Mock Tests. All MBA coaching institutes offer computer-based Mock Tests nowadays. Also, you can check out online MBA coaching and test providing portals. Read the two article series of MBAUniverse.com, CAT 2009: MBA coaching portals logon to new computer-based format
The eligibility of taking CAT entrance exam is to obtain 50 per cent in graduation from any stream and any recognized college. The IIMs prefers candidates with work experience, but admission in a top MBA school depends on your performance of CAT entrance exam. If you do well in the written exam, you will get calls from various MBA schools for Group Discussion and Personal Interview. Depending on your performance in all three steps and quality of your CV, you will get admission offers. During the selection process, the educational qualification is also taken into account as it is not possible for everyone to cope up with the rigorous pressure of the MBA programs provided by the top MBA schools. Among the CAT 2008 toppers, interviewed by MBAUniverse.com, there were students who did not belong to engineering backgrounds such as Vipul Goyal. Vipul had done B.Com from Shri Ram College of Commerce, Delhi University. He scored 99.87 percentile in CAT and is now in IIM Indore. Also Sitaram Agarwal (99.53 percentile holder), and Anurag Goyal (99.56 percentile holder), were students of B.Com from St. Xavier’s College, Kolkata, University of Calcutta. Both are now students of IIM Ahmedabad and FMS respectively. Read their interviews here:
Allotments and computer training for mentally ill
A new initiative was launched by Phil Hope, care services minister to mark a new era in mental health, end the stigma associated with the condition and encourage early treatment.
Urban allotments, reading groups and computer training were highlighted as schemes that the NHS is being urged to provide under the New Horizons campaign.
Poor mental health is already believed to cost the economy £77 billion a year and the independent health think tank, the King’s Fund, has predicted the cost will double to over 10 per cent of GDP by 2026.
A consultation was launched to bring together different agencies including schools, employers, the NHS and the criminal justice system, to investigate how to improve mental health of the nation.
One of the ideas under consideration is a dedicated youth mental health service as problems often begin early in life, experts said.
Prevention and early treatment are key themes in the consultation along with removing stigma and ensuring patients receive care tailored to their needs.
One in six people will have a mental health problem at any one time.
Care Services Minister Phil Hope said: “Better mental health and wellbeing is vital for a healthy society. People with mental health problems are more likely to do other things that damage their health, such as have a poor diet, smoke or take drugs. So promoting good mental health is a key part of tackling many other health inequalities.
“Over the last ten years of the national service framework we’ve transformed mental healthcare but now we want to go further. Our aim is to build on recent achievements, whilst simultaneously taking the next logical step – helping to prevent mental health problems from developing in the first place. New Horizons will help us do this."
Steve Shrubb, Director of the Mental Health Network of the NHS Confederation said: “Promoting mental health is everyone's business and the coalition fully supports the move to embedding good mental health across society while continuing to improve services.
Half of mental illness starts before the age of 14, Louis Appleby, National Director for Mental Health Services said and around half of these problems are preventable.
He added: “The New Horizons vision is about promoting better mental health and wellbeing. It is also about high quality, responsive services, that intervene early and effectively to lessen the long-term effects of mental ill-health.
"Services that are focused not only on treatment outcomes, but on wider quality of life issues, strengthened by efforts to promote social inclusion and tackle stigma and discrimination of every kind.”
Peter Carter, Chief Executive of the Royal College of Nursing (RCN), said: “The chances are that everyone knows someone with a mental health issue, yet for far too long mental health has been hidden behind closed doors. Bringing the issue of mental health and wellbeing into the mainstream and making it everybody’s business is clearly a step in the right direction."
Plans to improve mental health must not sit on the shelf, Andrew McCulloch, Chief Executive of the Mental Health Foundation, warned.
He said: “A key test for all these proposals will be their implementation. We know from the previous mental health strategy that only initiatives with a clear delivery plan get done.
“The idea of a youth mental health service is a good one. The transition to adulthood is when many mental health problems can become embedded. Most people with a mental health problem have been diagnosed by the age of 18. It’s much more sensible, not to mention cost effective, to help people stay well than pick up the pieces later on in life when their problems have become more serious."
A spokesman for the Department of Health said: "The reading groups and allotments are examples of effective ways to promote mental wellbeing, we are not recommending that everyone in the country has access to these specific examples. Ultimately, the responsibility for commissioning mental health care and treatment rests with individual Primary Care Trusts."
USA Hopefuls Prove Themselves In Gold Cup
CHICAGO, Ill. - The U.S. Men’s National Team started the CONCACAF Gold Cup as the favorite in a sense, as the reigning two-time defending champion. But naysayers quickly turned up their noses when the roster was released. And now five games later… the USA is headed to the Final for the third consecutive year, and sixth time overall.They’ve done it all by doing one thing – playing their style of soccer.“We were confident in ourselves,” U.S. defensive midfielder Logan Pause said. “It was a different game this time, much tougher. We focused on ourselves and felt if we did the little things, we would have the advantage.”It’s worked effectively as the U.S. has collected a 4-0-1 record, while outscoring opponents 12-3. All-time in Gold Cup play, the USA has dominated opponents with a 36-4-5 record and outscoring them 85 to 26.This team was a younger team, lacking experience. But head coach Bob Bradley turned them into a winning combination. There were some close calls along the way, but all in all, the USA proved they have what it takes to make it to the final.If the USA wins, they’ll become the second team in CONCACAF history to win three straight Gold Cup titles.“We as a group feel we’ve come a long way in this tournament,” USA’s Stuart Holden said. “But our job isn’t done yet. We want to finish it off by winning the final. You always want to play in these games. Whether it’s Mexico or Costa Rica in the final, we’ll prepare the same way.”Holden has been a bright star for the USA in the tournament, creating chances and most of all making noise in the midfield. He’s been all over the field. Thursday night he created chance after chance. And at the end of the match, he assisted both goals.“Anytime I’m on the field, I want to do well. I’m competitive,” Holden said. “The guys around me are doing a good job of finishing balls off. It’s been an all around effort since the first game.”Holden has tallied two goals and three assists for the USA in Gold Cup play. He donned Landon Donovan’s No. 10 jersey, by accident. And has without a doubt proved that he belongs at least on the senior side’s radar screen, if not the roster for upcoming games.“I think Stuart is a player that has been on the verge of getting into our team for a while he’s one of the players that came out of the Olympics where he did well,” U.S. Head Coach Bob Bradley said. “In the January camp, he came out with an injury so he missed an opportunity. The timing of this tournament was good for him and like others…I think he’s taken advantage of it.”At the end of the day, the USA out shot Honduras 17 to 10. It was one of their better performances thus far in the tournament, which puts them in good position for the final. All the players performed at the top of their game, making it hard for Honduras."The U.S. is known for playing collectively,” Honduras head coach Reinaldo Rueda said. “It's hard to say that one player stands out. This is what they've worked for in the last couple years. They have invested time and resources in this project, and it's finally paying off."U.S. striker Brian Ching, who wore the captain’s armband for the match, said the team will be ready, regardless of the opponent.“There will be a lot of pressure on us going into the final. But it’s pressure we look forward to,” Ching said.The USA will face the winner of Costa Rica-Mexico Sunday, July 26th at Giants Stadium in their third straight Gold Cup fina
Gold revisits 15K-level on higher global cues
revisited the 15,000-mark after a gap of 3-1/2 months on the
Silver also firmed up smartly on fresh demand from industrial users. Gold rose to a six-week high in Europe today as weakening dollar boosted interest in other hard assets, including bullion. Spot gold was bid at $952.40 an ounce as against $950.40 an ounce late in New York on Wednesday. In early trade, it touched a high of $956.50 an ounce. Silver was at $13.74 an ounce as against $13.68. Turning to the domestic market, standard gold (99.5purity) shot up by Rs 85 per ten grams to Rs 15,020 from yesterday's closing level of Rs 14,935. The level had previously seen on April 1, 2009, when it was closed at Rs 15,130. Pure gold (99.9 purity) also hardened by Rs 90 per ten grams to Rs 15,095 from Rs 15,005. Silver ready (.999 fineness) rose by Rs 295 per kilo to Rs 22,800 as against Rs 22,505 yesterday.
Approximately 90 million people are estimated to be using computers worldwide. Following such widespread use of computers, concerns have been raised about various health problems being reported by computer users. The most common symptoms reported following repeated and prolonged computer usage are visual symptoms, including eye strain, tired eyes, irritation, burning, redness, blurred vision and double vision. These complaints have been grouped together to form a syndrome known as the computer vision syndrome (CVS).
This study was conducted by Dr Nitin Batra of the Department of Ophthalmology at Christian Medical College and Hospital. A total of 200 computer users were included, randomly selected from ten software-training centres in the city. A strict inclusion criteria was followed. The subjects graded their ocular symptoms and tear-film tests were performed
Based on the diagnostic criteria, 98 subjects were labelled to have normal eyes, 64 subjects had mild and 20 had moderate CVS, he said. Severe CVS was noted in 18 subjects. In other words nearly 51 per cent of computer users had some form of CVS if they were using the PC for 2 hours per day at a stretch or 15 hours per week. The consultant Ophthalmologists at CMC said that unfortunately most people are unaware of CVS and its prevention and management. This condition can be easily prevented by blinking the eyes frequently while working on the computer. It is also suggested to take a break after every 20 minutes of computer usage. Dr Nitin said that it was a preventable problem
This study was conducted by Dr Nitin Batra of the Department of Ophthalmology at Christian Medical College and Hospital. A total of 200 computer users were included, randomly selected from ten software-training centres in the city. A strict inclusion criteria was followed. The subjects graded their ocular symptoms and tear-film tests were performed
Based on the diagnostic criteria, 98 subjects were labelled to have normal eyes, 64 subjects had mild and 20 had moderate CVS, he said. Severe CVS was noted in 18 subjects. In other words nearly 51 per cent of computer users had some form of CVS if they were using the PC for 2 hours per day at a stretch or 15 hours per week. The consultant Ophthalmologists at CMC said that unfortunately most people are unaware of CVS and its prevention and management. This condition can be easily prevented by blinking the eyes frequently while working on the computer. It is also suggested to take a break after every 20 minutes of computer usage. Dr Nitin said that it was a preventable problem
Thursday, September 17, 2009
Pune: Eight-time World billiards champion Geet Sethi heads a seven-member contingent which will leave on Thursday for the World Professional Billiards championship that gets under way at the Northern Snooker Centre, Leeds, England, from September 2.
The other Indians taking part include Pankaj Advani, former Asian champion Devendra Joshi, Dhruv Sitwala, B. Bhaskar and Sourav Kothari.
"The Bangalore camp has been the best way to prepare for a tournament," Sethi said while talking to TOl. "I'm feeling good and it was good to end the camp ona winning note." TNN
Maria aims to be no. 1 again But Russian Star Downplays Chances At The US Open
0 comments Posted by Tip at 9:36 AMOakland (California): Maria Sharapova has downplayed her chances of winning a second US Open crown this year after returning from shoulder surgery but believes sh.e can go on to regain the world number one spot.
"With every tournament I feel physically I'm getting better and getting a good sense of the court but it's still a work in progress," the three-times Grand Slam winner said ahead of the fmal major of the season which begins on
Monday. "I'd like to forget I was gone for a long time but you have to put things in perspective."
The 22-year-old Russian, who
only returned to singles action in May after a nine-month layoff, said while she would certainly give the US Open her best shot and
was "absolutely" sure of climbing back to the tennis summit.
"I'm a competitor and have played many tournaments and won quite a few," said Sharapova, who first claimed the world number one spot in 2005. "You want to be the winner and if someone tells you otherwise they wouldn't be telling the truth."
While the Russianhas not won any titles since her comeback, she has beaten world number seven Vera Zvonareva, eighth-ranked Victoria Azarenka and number 13 Nadia Petrova and seems to beimproving every week.
The Russian reached the LA Championships semis and on Sunday lost the Toronto Cup fmal to compatriot and world number four Elena Dementieva 6-4, 6-3. "I think it was a really great week for me," Sharapova said. REUTERS
Silverstone: Brimming with confidence after his top 10 finish in Valencia, Force India driver Adrian Sutil expects the new updates to bridge the gap that separates his team from its maiden Formula One points in Sunday's Belgian Grand Prix at Spa-Francorchamps.
After the upgrades debuted in the European Grand Prix, both the V JM02 cars fmished inside top 12 and Sutilrevealed it has indeed made a difference.
"It was a very simple track, it just goes straight on, so you don't need a lot of downforce. But I think we gained about half a second, and it should be even more
in Spa," Sutilsaid.
Describing Spa as one of his favourite tracks, the German said Force India might break its point duck there. "Spa I think is our circuit," he said. "We were quite good there last year, and
this year must be much, much better. I'll be happy with a dry weekend. The circuit is amazing in the dry, and our car is now good. I want to see how our update works there," Sutil said.
Looking back, Sutil drew lot of confidence from his show in Valencia and said it was great to run wheel-to-wheel with some of the top teams. "I think it was a strong race, and I'm really happy with it. I have done a few other races which were similar and maybe even had a better position. But here almost nobody retired. And it was a dry race, and normally we're strong in the wet races," he explained. PTI
Thursday, September 10, 2009
The GBPJPY is trading at an important long term resistance level around 159.45, in the short term charts it is trading in a tight range in between 159.79 and 158.23, so it first need to clear either support or resistance to start looking for trading opportunities, please take a look at the next chart:
If the market breaks the 159.79 short term resistance line, I will be looking for long opportunities. All take profit orders will be placed around 161.70
If the market breaks the 158.23 short term support level, I will be looking for short trading opportunities. All take profit orders will be placed around 157.00
If the market keeps trading in the short term range I will do nothing.
Good luck
If the market breaks the 159.79 short term resistance line, I will be looking for long opportunities. All take profit orders will be placed around 161.70
If the market breaks the 158.23 short term support level, I will be looking for short trading opportunities. All take profit orders will be placed around 157.00
If the market keeps trading in the short term range I will do nothing.
Good luck
The Forex market is a non-stop cash market where currencies of nations are traded, typically via brokers. Foreign currencies are constantly and simultaneously bought and sold across local and global markets and traders' investments increase or decrease in value based upon currency movements. Foreign exchange market conditions can change at any time in response to real-time events.
The main enticements of currency dealing to private investors and attractions for short-term Forex trading are:
· 24-hour trading, 5 days a week with non-stop access to global Forex dealers.
· An enormous liquid market making it easy to trade most currencies.
· Volatile maarkets offering profit opportunities.
· Standard instruments for controlling risk exposure.
· The ability to profit in rising or falling markets.
· Leveraged trading with low margin requirements.
· Many options for zero commission trading.
Forex trading is an exiting way of earning a living or making some extra money on the side, but its not for everyone. There is always the risk of losing money on top of all the variables you have to take into account. Some people just cant make the cut into the realm of successful traders. If you are considering taking up Forex trading as something else than a hobby, you will want to read this article carefully. It contains the traits that set successful traders apart from the rest.If you can’t recognize these traits in yourself then maybe Forex trading isn’t for you.
Discipline. Successful traders always go by a strategy and don’t let their emotions get the better of them. They never ‘trade on the fly’.The ability to accept risk as part of the game. Despite what you may hear from shrewd sales pages, Forex trading is never without risk. Risk is the other side of the coin. There is big profits to be made but you have to be willing to accept the risk of losing.
Willingness to accept failure and learn from it. Even the best traders in the game lose trades. Its the natural order of things. But the difference between a successful trader and a losing trader is the ability to learn from failed trades and not dwell on the negative.
Confidence. Successful traders always keep confidence in their ability and knowledge. They don’t second guess themselves after making a trade.
The ability to accept being wrong. No one is perfect. You are going to make plenty of mistakes along the way. Don’[t be stubborn and stay in trades gone bad to save yourself from admitting you were wrong.
Patience. Smart traders stay with their system and wait patiently for the right spot to present itself. You don’t need to have positions open all the time. Don’t trade just to trade.
Know when to get out. There is more to trading than knowing when to get in, you need to know when to get out as well. Too many traders got greedy and stayed in a trade for too long, only to see their profits wiped out. Get out when your system tells you too. Don’t go chasing pips.
Know your financial limitations. Don’t over-leverage yourself and don’t trade with money you need to pay your bills or risk ending on the street. Only trade with money you can afford to lose even if this means starting out with only a few hundred dollars. There are many forex brokers where you can get started with that.
Discipline. Successful traders always go by a strategy and don’t let their emotions get the better of them. They never ‘trade on the fly’.The ability to accept risk as part of the game. Despite what you may hear from shrewd sales pages, Forex trading is never without risk. Risk is the other side of the coin. There is big profits to be made but you have to be willing to accept the risk of losing.
Willingness to accept failure and learn from it. Even the best traders in the game lose trades. Its the natural order of things. But the difference between a successful trader and a losing trader is the ability to learn from failed trades and not dwell on the negative.
Confidence. Successful traders always keep confidence in their ability and knowledge. They don’t second guess themselves after making a trade.
The ability to accept being wrong. No one is perfect. You are going to make plenty of mistakes along the way. Don’[t be stubborn and stay in trades gone bad to save yourself from admitting you were wrong.
Patience. Smart traders stay with their system and wait patiently for the right spot to present itself. You don’t need to have positions open all the time. Don’t trade just to trade.
Know when to get out. There is more to trading than knowing when to get in, you need to know when to get out as well. Too many traders got greedy and stayed in a trade for too long, only to see their profits wiped out. Get out when your system tells you too. Don’t go chasing pips.
Know your financial limitations. Don’t over-leverage yourself and don’t trade with money you need to pay your bills or risk ending on the street. Only trade with money you can afford to lose even if this means starting out with only a few hundred dollars. There are many forex brokers where you can get started with that.
So you decided to make full time leaving from foreign exchange market? Or you are going to supplement your income from here? You have set up yourself with proper broker available. I believe you spent hundred of hours in front of PC trying to put together all maths and physics involving currency market. Now you watching business news in the morning paper and following CNBC channel to be on the top with latest information from exchange market. You trading your demo account trying to figure out how to make it all work? So? Does it? No?Face the fact that in currency market all is possible and there is no golden rule to follow. There are so many aspects to consider that you will need at least another head to set this puzzle together.But do not worry there is a hope that can make it work.Signal solutions for forex trading. People who traded forex for a long time and developed their own systems to enter and exit with profit strategies. They will share this knowledge with you for varieties of prices from usd49 to usd499 a month for those precious information. Problem is which one will suit you best. Are they scams? How do I know?For medium advanced forex trader is almost impossible to choose proper forex signal system, which is not a scam, or at least not profitable. There is bulk of forex signals providers out there. They all offer their signal solution to trade currency with success.Advice is that you will have to establish what type of trader are you? Do you want to trade quickly or maybe over the days or weeks? What losses can you manage and how much money you want to invest.As long as you know al that it is a time to pick up signal trade provider.Few things worth researching are: performance, service offered and rewievs of the signal. Search on forum for another users of the product you are interested in and ask for comment. Every profitable system should be up on collective2 with real track performance. Look for service offered. You will quickly find out that only few offer free trail-option to try signals before you pay. Demand performance evidence.But while doing all that hard work choosing your automat forex signal system remember that you will have to totally follow it without exceptions to make most out of it. Any even small innovation may have dramatic results in your own gains.Remember that your future profits will depend on your signal provider so calculate carefully and make smart decisions.for more go to http://www.rorexmoneysignal.com
Turkey has been an important regional gold market for many years; during the 1990s domestic jewellery fabrication averaged 125 tonnes (4.02 million oz). In addition, Turkey has been a key source of bullion for several neighbours countries. Turkish bullion imports, which normally exceed 100 tonnes (3.2 million oz) on an annual basis, came to 107 tonnes in 1999 but then rose significantly in 2000 to 205 tonnes (6.6 million oz). However, the following year bullion imports fell sharply. According to GFMS, this was partly due to the sharp devaluation of the Turkish currency and the associated economic and banking crises which affected the country. On a separate note, Turkey's position in the international market was enhanced by the full liberalisation of the local gold market in 1998 and the opening of the Istanbul Gold Exchange on 26 July 1995.
Japan has evolved as a major market for gold for fabrication and investment since trading was liberalised in 1974. But the gold business in Japan has much earlier origins. Gold mines in Japan in the 17th century exported through the Dutch East India Company to East Asian countries. Tokuriki Honten, still an important refiner and fabricator, traces its history back to 1727. Tanaka Kikinzoku Kogyo, the leading precious metal refiner and trader, was established in 1885.
Actual mine production is limited. The only significant mine is Sumitomo Metal Mining's Hishikari on Kyushu island, opened in 1985, with output between seven and eight tonnes (0.25-0.26 million oz) annually. The Japanese market is supplied, therefore, both by imports of bullion and by-product gold from imported concentrates.
Total gold demand in Japan ranges between 200 and 275 tonnes (6.4 – 8.8 million oz), embracing jewellery fabrication, electronic and industrial uses, dental applications and physical bar investment . Japan is the world's foremost user in electronics, using over 100 tonnes (3.21 million oz) in 2000 according to GFMS (although this fell sharply, to around 70 tonnes or 2.25 million oz, in 2001 on the back of the slowdown in global demand). Japan's use of dental gold in 2001 was around 21 tonnes (675,000 oz) according to GFMS. Physical bar hoarding is also much higher than in other industrial countries, and is an anonymous way of holding wealth outside of the banking sector. GFMS estimate that it averaged just under 60 tonnes (1.9 million oz) over the past decade and exceeding 100 tonnes (13.2 million oz) in 1999. The first few months of 2002 saw a surge in Japanese hoarding demand due to fears about the health of the banking system.
It is also the custom in Japan for companies to give gifts of 24 carat ornaments such as teapots, saki cups, vases and chopsticks. The gold tea ceremony room at the Moa Art Museum in Shizuoka Province used 50 kilos (1,607 oz) for teapots and cups, plus gold leaf for its walls.
Actual mine production is limited. The only significant mine is Sumitomo Metal Mining's Hishikari on Kyushu island, opened in 1985, with output between seven and eight tonnes (0.25-0.26 million oz) annually. The Japanese market is supplied, therefore, both by imports of bullion and by-product gold from imported concentrates.
Total gold demand in Japan ranges between 200 and 275 tonnes (6.4 – 8.8 million oz), embracing jewellery fabrication, electronic and industrial uses, dental applications and physical bar investment . Japan is the world's foremost user in electronics, using over 100 tonnes (3.21 million oz) in 2000 according to GFMS (although this fell sharply, to around 70 tonnes or 2.25 million oz, in 2001 on the back of the slowdown in global demand). Japan's use of dental gold in 2001 was around 21 tonnes (675,000 oz) according to GFMS. Physical bar hoarding is also much higher than in other industrial countries, and is an anonymous way of holding wealth outside of the banking sector. GFMS estimate that it averaged just under 60 tonnes (1.9 million oz) over the past decade and exceeding 100 tonnes (13.2 million oz) in 1999. The first few months of 2002 saw a surge in Japanese hoarding demand due to fears about the health of the banking system.
It is also the custom in Japan for companies to give gifts of 24 carat ornaments such as teapots, saki cups, vases and chopsticks. The gold tea ceremony room at the Moa Art Museum in Shizuoka Province used 50 kilos (1,607 oz) for teapots and cups, plus gold leaf for its walls.
Wednesday, September 9, 2009
2004 to promote the use of strategic litigation for achieving women's reproductive rights worldwide. In 2006, it organised the first ever training on reproductive rights
1- for lawyers in India in collaboration with the Human 1- Rights Law Network (HRLN). It was at this meeting that tl the potential for developing constitutional litigation to
address maternal mortality through the use of intern'le tional norms and comparative law was discussed for the h first time. It also inspired the just-published report, d 'Maternal Mortality in India: Using International and ", Constitutional Law to Promote Accountability and .g Change'.
I· The report, which assesses the situation in India and
recommends strategies and laws that can be used to tackle the problem, was shared at the recent meeting, where II it was released. "It (the report) is a tool to establish a
hen doctors at the local pri-
mary health centre in
Banda. Uttar Pradesh. were
unable to stop her bleeding. Phuli. 28, was moved to the Banda
district hospital and then to the hospital in Kanpur. But here she was denied life-saving care and gave birth outside the hospital gates. While the baby died within an hour. Phuli died later that night.
Did Phuli need to die? Could she have been saved if she had not been the wife of a daily wage labourer belonging to a marginalised community? Would she have survived if she knew that the symptoms of blood loss were not normal or that sp'e was seriously sick? Why is it that over 75.000 women continue to die from pregnancy-related causes in India each year? Can the health system be made legally accountable? These were some of the concerns raised at a recent meeting in New Delhi to discuss Maternal Health, Human Rights and Law. as a part of the nationwide ICPD + 15 (International Conference o,n
Population and Development) Gains and Gaps review process.
"In India, there is one maternal, death every five minutes, These are preventable deaths. There is no justification for maternal mortality. India has more than 300 maternal deaths for every 100.000 live births. In Sri Lanka, the corresponding figure is 56. in China it is 45. in Namibia. 210 and in Egypt. 130. The biggest cause is discrimination and the lack of equality that prevents women from accessing information and services. However, women should not remain objects of interventions but also be empowered." contends Anand Gover. UN Special Rapporteur on Right to Health.
Litigation can become a tool to empower women by making maternal health a right says Jasodhara Dasgupta (in the pic above). member of the steering group for ICPD+ 15 review. "Equity has to become a marker for measuring ·maternal mortality. Less than 50 per cent of women give birth with the assistance of a skilled attendant and only 40 per cent of deliveries occur in an institutional setting. Even access to maternal health varies by state. So while in West Bengal over 90 per cent receive antenatal care. only 34 per cent receive it in ~ihar." she informs.
But maternal health is not only about numbers. It is about a woman's dignity and her right to health - two reasons why accountability is needed. Maternal mortality is symptomatic of a deeply ingrained gender inequality. feels Melissa Upreti (In the pic to the right). senior legal advisor of the Centre for Reproductive Rights, an international NGO. "India has -taken many. steps to reduce maternal mortality including the National Rural Health Mission (NRHM). but it lacks effective monitoring and enforcement. This has undermined the country's efforts. Human rights law and the Constitution provide a strong basis for lawyers to demand change and hold the government accountable for maternal deaths." she says.
CRR (Center for Reproductive Rights), which uses the law to underline reproductive freedom as a fundamental right to all governments, launched a global initiative in
mary health centre in
Banda. Uttar Pradesh. were
unable to stop her bleeding. Phuli. 28, was moved to the Banda
district hospital and then to the hospital in Kanpur. But here she was denied life-saving care and gave birth outside the hospital gates. While the baby died within an hour. Phuli died later that night.
Did Phuli need to die? Could she have been saved if she had not been the wife of a daily wage labourer belonging to a marginalised community? Would she have survived if she knew that the symptoms of blood loss were not normal or that sp'e was seriously sick? Why is it that over 75.000 women continue to die from pregnancy-related causes in India each year? Can the health system be made legally accountable? These were some of the concerns raised at a recent meeting in New Delhi to discuss Maternal Health, Human Rights and Law. as a part of the nationwide ICPD + 15 (International Conference o,n
Population and Development) Gains and Gaps review process.
"In India, there is one maternal, death every five minutes, These are preventable deaths. There is no justification for maternal mortality. India has more than 300 maternal deaths for every 100.000 live births. In Sri Lanka, the corresponding figure is 56. in China it is 45. in Namibia. 210 and in Egypt. 130. The biggest cause is discrimination and the lack of equality that prevents women from accessing information and services. However, women should not remain objects of interventions but also be empowered." contends Anand Gover. UN Special Rapporteur on Right to Health.
Litigation can become a tool to empower women by making maternal health a right says Jasodhara Dasgupta (in the pic above). member of the steering group for ICPD+ 15 review. "Equity has to become a marker for measuring ·maternal mortality. Less than 50 per cent of women give birth with the assistance of a skilled attendant and only 40 per cent of deliveries occur in an institutional setting. Even access to maternal health varies by state. So while in West Bengal over 90 per cent receive antenatal care. only 34 per cent receive it in ~ihar." she informs.
But maternal health is not only about numbers. It is about a woman's dignity and her right to health - two reasons why accountability is needed. Maternal mortality is symptomatic of a deeply ingrained gender inequality. feels Melissa Upreti (In the pic to the right). senior legal advisor of the Centre for Reproductive Rights, an international NGO. "India has -taken many. steps to reduce maternal mortality including the National Rural Health Mission (NRHM). but it lacks effective monitoring and enforcement. This has undermined the country's efforts. Human rights law and the Constitution provide a strong basis for lawyers to demand change and hold the government accountable for maternal deaths." she says.
CRR (Center for Reproductive Rights), which uses the law to underline reproductive freedom as a fundamental right to all governments, launched a global initiative in
Saturday, September 5, 2009
~e General Post Office at Shillong has disbursed the first 1 :icro-credit loan, sanctioned by ABARD to self help groups (SHGs). The first cheque of Rs 25,000
was disbursed to a domestic workers group,
an SHG from Madanriting in the city by ~
chief post master general and Kachari and
ABARD general manager Arvind Menon.
Post master general, E Circle, Shillong, M Lawphniaw, and members of the group
were present at the function organized at GPO.
So far, 40 SHGs have already registered with the post office in Shillong to avail of micro-loans, but the domestic workers group was the only qualified group selected for the purpose. This project was first implemented in 2006 as a pilot project in a number of post offices in two districts of Tamil Nadu.
The loans are provided by NABARD and the post offices disburse them to SHGs. The interest rate is 9
n a historic step to uplift the rural population of Meghalaya, a program, Scheme of Fund Regeneration
of Traditional 1 ndustries (SFURTJ), involving cottage industries making use of the abundantly available cane and bamboo was launched at Mookyndeng village in ]aintia Hills district of the state. Describing the initiative as a historic event, chief minister DD Lapang said the cooperative movement is very popular in the villages of the state and the people are aware of the benefits of working in cooperation. He added that women's groups will be participating in SFRUTI and these groups will be consistent in their approach and not disappear in a short time. He reminded the people about Mahatma Gandhi, who revolutionized the economic development strategy in the rural areas.
Lapang felt that in many villages of the state there are numerous skillful and talented artisans, whose talents could be tapped and who can be encouraged to form cooperative societies for which the state government could provide financial assistance. If the products are of good quality, it will have a good market value, and perhaps, even the government could purchase the relevant products for use in government offices, he added. The cooperative societies in the state should
be strengthened, he said and assured that the state government will prOVide all possible assistance to encourage the people in this direction for economic development of the state as a whole.
The scheme is being sponsored by the union government through the ministry of micro, small and medium enterprises and implemented by the Women's Group of Mookyndeng and the Handicraft Multipurpose Cooperative Society, Mookyndeng. It aims at self-employment opportunities for the women helping them learn in handicraft skills.
SFUTRI was originally launched by the Indian government in 2005 with the objective of strengthening traditional industries and build innovative and traditional skills. It is also provides innovative and modern tools to the local artisans to improve and boost production and uplift the economy and generate good income through their cane and bamboo products. Mookyndeng is known for its skillful artisans, who make cane and bamboo products and has a good record of haVing effective and innovative cooperative societies. It is the first Village to be identified for the implementation of SFURTI, in Meghalaya.
ACB case against former Mizoram health minister in insurance scam
0 comments Posted by Tip at 6:57 AMe Anti-Corruption Bureau (ACB) has filed criminal 1 ~ases against former Mizoram health minister R Tlanghmingthanga and others, who were allegedly involved in the Rs 10 crore Mizoram healthcare scheme fund scam. The ACB's action followed an FIR lodged by a corruption watchdog People's Right to Information and Development Implementing Society of Mizoram (PRISM). Earlier this year, it was revealed that as much as Rs 10 crore, allocated for the Mizoram Health Care Scheme, had been invested in Bajaj Allianz General Insurance Company
in the names of 17 individuals, 11 of whom were daughters and sons and in-laws of Tlanghmingthanga. The remaining six people were government officials and their wives, including former secretary to chief minister Zoramthanga and health commissioner ].c. Ramthanga and Mizoram Health
Care Society chief executive officer Sangzuala Pachuau.
In response to queries that why the name of former chief minister and MSHCS chairman Zoramthanga failed to figure, PRISM has urged the ACB to have a second look into its FIR. Hinting that Zoramthanga's name was included in the FIR, PRISM president Vanlalruata said the ACB is expected to file a case against those who were involved in the case.
According to an ACB source, there were a few names mentioned in the FIR, but it was found that they investments were not made in their names. According to the charges, Tlanghmingthanga had strongly recommended that the money be invested in the Bajaj Allianz against earlier proposal of the officials. This was given a go-ahead by the then chief minister Zoramthanga before the state assembly elections in December 2008. Incidentally, the Aizawl division of the Bajaj Allianz is co-
in the names of 17 individuals, 11 of whom were daughters and sons and in-laws of Tlanghmingthanga. The remaining six people were government officials and their wives, including former secretary to chief minister Zoramthanga and health commissioner ].c. Ramthanga and Mizoram Health
Care Society chief executive officer Sangzuala Pachuau.
In response to queries that why the name of former chief minister and MSHCS chairman Zoramthanga failed to figure, PRISM has urged the ACB to have a second look into its FIR. Hinting that Zoramthanga's name was included in the FIR, PRISM president Vanlalruata said the ACB is expected to file a case against those who were involved in the case.
According to an ACB source, there were a few names mentioned in the FIR, but it was found that they investments were not made in their names. According to the charges, Tlanghmingthanga had strongly recommended that the money be invested in the Bajaj Allianz against earlier proposal of the officials. This was given a go-ahead by the then chief minister Zoramthanga before the state assembly elections in December 2008. Incidentally, the Aizawl division of the Bajaj Allianz is co-
Financial institutions in the country, including the State Bank of India, have promised a big-bang financial inclusion drive this year to cover the rural sectors. After inaugurating IS-l branches and 2, IS 1 ATMs simultaneously from ]angipur, from where finance minister Pranab Mukherjee is elected to the Lok Sabha, recently, SBI chairman 01' Bhatt revealed a major plan to roll out banking services in 50,000 unbanked Villages by March 2010. Most of these new branches will be opened in rural and semi-urban areas, he said adding the bank has now 11,853 branches and 13,983 ATMs.
The bank has charted a major expansion plan in Northeast
India, where banking penetration has been far from adequate. The bank plans to add another 536 ATMs in the region. Currently, it has a network of 464 ATMs. Local SBI officials said the bank is targeting to have a network of 1,000 ATMs by March 2010.
The bank's initiative assumes significance as the banking sector as a whole is chasing a stiff target of covering nearly 1.07 lakh un-banked Villages in West Bengal having population of over 2,000 by 2011. Bhatt said thal the bank covered 53,000 un-banked villages in 2008-09. Earlier, the bank had opened 101 branches simultaneously in July 2008.
The Reserve Bank of India has decided to allow self-help groups (SHGs) and primary agriculture credit societies (PACS) to have business correspondents to ensure a greater banking penetration in the country's interior rural belt. SBI too has decided to engage banking correspondents and business facilitators extensively to achieve its target.
The bank has charted a major expansion plan in Northeast
India, where banking penetration has been far from adequate. The bank plans to add another 536 ATMs in the region. Currently, it has a network of 464 ATMs. Local SBI officials said the bank is targeting to have a network of 1,000 ATMs by March 2010.
The bank's initiative assumes significance as the banking sector as a whole is chasing a stiff target of covering nearly 1.07 lakh un-banked Villages in West Bengal having population of over 2,000 by 2011. Bhatt said thal the bank covered 53,000 un-banked villages in 2008-09. Earlier, the bank had opened 101 branches simultaneously in July 2008.
The Reserve Bank of India has decided to allow self-help groups (SHGs) and primary agriculture credit societies (PACS) to have business correspondents to ensure a greater banking penetration in the country's interior rural belt. SBI too has decided to engage banking correspondents and business facilitators extensively to achieve its target.
AGS Infotech has launched 'Beeline', a digital queue management terminal that handles lengthy queues and reduces unpredictable waiting time for people. In its most basic form, it issues a queue ticket to a customer and later calls the ticket when the service is available. The system solves problems faced by ustomer service centric companies and institutions of queues, which in turn leads to poor customer service and lower customer satisfaction. The system helps increase the number of customers that use the organization's ~ervices while simultaneously help selling ofthe organisation's products during the customer's waiting time. Beeline also facilitates equitable distribution of work among employees and enhances their productiVity. In a traditional banking environment, a customer spends a considerable time in a branch to conduct banking activities. Customers can simply approach the queue management terminal, read a range of transaction, push the touch-sensitive screen at the required service and receive a ticket with his / her queue number and the counter. While awaiting his number the customer can freely walk in a lobby, read advertising brochures or just take a seat. Beeline can manage single as well as multiple window queues with single or multiple services. It enables confident treatment of administration, which is essential in a customer centric environment.
In order to ensure that the increased government market borrowing program does not crowd out credit flow to the private sector, the projection of money supply (M3) growth for 2009-10 has been raised to 18% from 17%. Consistent with this, aggregate deposits and adjusted non-food credit of commercial banks are projected to grow by 19% and 20% respectively
On current assessment, the growth projection for GDP for 2009-10 is placed at 6% with an upward bias. The overall macroeconomic scenario continues to be uncertain, although it is expected that the fiscal and monetary stimulus measures will supplement domestic demand in 2009-10. On balance, an uptrend in the growth momentum is unlikely before the middle of 2009-10.
As liquidity remains ample, the competitive pressure on banks to reduce lending rates has increased. Consequently, the transmission of policy rate changes to bank lending rates has improved. As the short-term deposits contracted earlier at high rates mature and get repriced, it opens up room for banks to further reduce their lending rates.
FollOWing the crisis, the government deviated from the road map for fiscal consolidation. The deficit indicators deteriorated sharply in 2008-09 and are projected to be even higher in 200910. These are budgeted to increase further by nearly 34% in 2009-10.
Management of the large market borrOWing program in a nondisruptive manner requires active liquidity management and, accordingly, the RBI indicated its intention to purchase government securities under open market operations (OMO) for an indicative amount of Rs 80,000 cr during the first half of 2009-10. During the first half of 2009-10, net market borroWing of the central government through dated securities will be Rs 265,911 cr, of which nearly 63()11 (Rs 167,911 cr) has been completed by July 27, 2009 and an additional amount of Rs 28,000 cr has been raised through desequestering desequestering MSS balances. During the first half of 2009-10, proposed OMO purchases and MSS unWinding will add primary liquidity of Rs 150,000 cr, which by way'of monetary impact is eqUivalent to reduction of CRR by over 3.5% points.
FollOWing the crisis, the government deviated from the road map for fiscal consolidation. The deficit indicators deteriorated sharply in 2008-09 and are projected to be even higher in 200910. These are budgeted to increase further by nearly 34% in 2009-10.
Management of the large market borrOWing program in a nondisruptive manner requires active liquidity management and, accordingly, the RBI indicated its intention to purchase government securities under open market operations (OMO) for an indicative amount of Rs 80,000 cr during the first half of 2009-10. During the first half of 2009-10, net market borroWing of the central government through dated securities will be Rs 265,911 cr, of which nearly 63()11 (Rs 167,911 cr) has been completed by July 27, 2009 and an additional amount of Rs 28,000 cr has been raised through desequestering desequestering MSS balances. During the first half of 2009-10, proposed OMO purchases and MSS unWinding will add primary liquidity of Rs 150,000 cr, which by way'of monetary impact is eqUivalent to reduction of CRR by over 3.5% points.
On the basis of the overall assessment, the stance of monetary policy for the remaining period of 2009-10 will be to manage liquidity actively so that the credit demand of the government is met while ensuring the flow of credit to the private sector at viable rates and to maintain a monetary and interest rate regime consistent with price stability and financial stability supportive of returning the economy to the high growth path.
Broad money growth (y-o-y) remained high at 20% (up to July 3,2009), driven by robust growth in deposits (21%) on the components side and significant increase in banking system's credit to the government (48%) on the sources side. Market absorption of the government borrOWing program was facilitated by dampened demand for credit from the private sector in the face of a high deposit growth.
Broad money growth (y-o-y) remained high at 20% (up to July 3,2009), driven by robust growth in deposits (21%) on the components side and significant increase in banking system's credit to the government (48%) on the sources side. Market absorption of the government borrOWing program was facilitated by dampened demand for credit from the private sector in the face of a high deposit growth.
economy and expect credit demand to pick up in the second half of the year. In this context, Subbarao emphasized the need to increase the flow of cred
0 comments Posted by Tip at 6:32 AMeconomy and expect credit demand to pick up in the second half of the year. In this context, Subbarao emphasized the need to increase the flow of credit, particularly to agriculture and micro, small and medium enterprises. The banks were concerned that their liability structure is getting shorter with the reduction in the term structure of deposits, while the asset structure is getting elongated on account of the increasing share of long-term loans, particularly infrastructure. Several banks also indicated that the share of CAS A deposits has been declining, which would put pressure on their net interest margins (NIM). As regards credit quality, banks were of the view that NPAs are expected to increase, particularly, in the unsecured segments, although they will remain manageable. "Going forward, public sector banks emphasized the need for raising capital as risk-weighted assets expand in their asset portfolio," said Subbarao after a meeting he had with the chiefs of major banks recently.
There are now progressive signs of recovery in India. On the other hand, there are some negative signs: delayed and deficient monsoon, food price inflation, rebound in global commodity prices, continuing weak external demand and high fiscal deficit.
There are now progressive signs of recovery in India. On the other hand, there are some negative signs: delayed and deficient monsoon, food price inflation, rebound in global commodity prices, continuing weak external demand and high fiscal deficit.
Is the state government policy conducive for the growth of the sugar industry?
0 comments Posted by Tip at 6:31 AMYes. The state government is solidly behind the state sugar industry. Whenever there is need, the helping hand is always available.
What is your estimate as to the total amount of loans taken by sugar cooperatives I sugar mills in the state from any PSU banks or cooperative banks in 2008-09?
During a typical crushing season, the total loan taken by the cooperative sugar mills in the state of Maharashtra is around Rs 10,000 - 12,000 cr.
What is the medium term outlook of the sugar industry?
Medium term is quite bullish because the fundamentals of 'less availability and more demand' seems to be continuing for some more time.
What is your estimate as to the total amount of loans taken by sugar cooperatives I sugar mills in the state from any PSU banks or cooperative banks in 2008-09?
During a typical crushing season, the total loan taken by the cooperative sugar mills in the state of Maharashtra is around Rs 10,000 - 12,000 cr.
What is the medium term outlook of the sugar industry?
Medium term is quite bullish because the fundamentals of 'less availability and more demand' seems to be continuing for some more time.
What effect do you apprehend on the sugarcane crops, its prices and ultimately the sugar production due to the delay in monsoon this year?
0 comments Posted by Tip at 6:30 AMThe monsoon delay has definitely posed a few questions.
However, our estimates for Maharashtra of 5 - 5.3 million tons for 2009-10 remains unchanged.
However, our estimates for Maharashtra of 5 - 5.3 million tons for 2009-10 remains unchanged.
Mehul: What are the problems and difficulties faced by sugar industry, particularly in Maharashtra?
0 comments Posted by Tip at 6:27 AMPrakash: 92(Yc, of the sugar industry in Maharashtra belongs to the category of cooperatives, and the cooperative sector due to its peculiar nature, is always saddled with financial problems. To start with, they require pre-seasonal loan, which is a clean cash credit for
meeting the expenses to prepare for the season. Here the financial institutes insist on government guarantee which invariably gets delayed. As a result, the pre seasonal loan, when not made available in time, delays the maintenance and other works, thereby resulting in delayed commencement of crushing season. Secondly, the financing bank releases advance against pledge of stocks for which the benchmark price is Rs 1,750 per quintal of which 85(K, is released upfront on pledge of stock. Thus, a mere amount of Rs 1487.50 per quintal is made available when the sugar bag is fetching Rs 2,250. This tantamount to almost Rs 762.50 not coming to the mill's hand, but getting adjusted against the bank loan recoveries. I do not see any major hurdles in starting the crushing season of Maharashtra around mid October 2009.
meeting the expenses to prepare for the season. Here the financial institutes insist on government guarantee which invariably gets delayed. As a result, the pre seasonal loan, when not made available in time, delays the maintenance and other works, thereby resulting in delayed commencement of crushing season. Secondly, the financing bank releases advance against pledge of stocks for which the benchmark price is Rs 1,750 per quintal of which 85(K, is released upfront on pledge of stock. Thus, a mere amount of Rs 1487.50 per quintal is made available when the sugar bag is fetching Rs 2,250. This tantamount to almost Rs 762.50 not coming to the mill's hand, but getting adjusted against the bank loan recoveries. I do not see any major hurdles in starting the crushing season of Maharashtra around mid October 2009.
In 1945, the late Vithalrao Vikhe Patil pioneered the successful cooperative sugar factory in the country at Pravaranagar in Ahmednagar district of Maharashtra. Prakash Naiknavare, managing director, Maharashtra State Cooperative Sugar Factories Federation, speaks to Mehul Dani on issues of sugar industry in the state. A report:
Up to ]945, there were about 145 joint stock sugar factories in the country inclusive of some 12 factories in Maharashtra. In 1945, the late Vithalrao Vikhe Patil pioneered the successful cooperative sugar factory in the country at Pravaranagar in Ahmednagar district of Maharashtra, which was commissioned in 1951. Maharashtra has a very favorable agro-climatic conditions for cane cultivation. The Central Sugarcane Research Station was established in the state at Padegaon, Pune in 1930. The sugarcane growers in the state were really encouraged by the announcement in 1954 by the then Bombay state government of the 12 places in the state where sugar factories could be established, with an offer of government share capital contribution of Rs 10 lacs each. A meeting of the promoters held in the office of the Bombay State Co-operative Bank formed a central committee under the chairmanship of Prof. Dhananjayrao Gadgil for guiding the societies about the important issues like share capital, sugarcane area, irrigation, site selection, land, transport facilities, etc. The state government also appointed a cabinet sub-committee for cooperative sugar factories.
With the increase in number of cooperative sugar factories, the need of apex institutions to guide and advise the societies was felt. Hence on 11 February 1956, Bombay State Sahakari Sakhar Karkhana Sangh was registered when 14 factories (inclusive of a Khedut Factory from Surat district) were affiliated. The Sangh originally had its office at Pune, which was subsequently transferred to Mumbai in 1963 in Fort area, which again in 1986, was transferred to Sakhar Bhavan, Nariman Point. At present Maharashtra State Cooperative Sugar Factories Federation Ltd has 174 cooperative sugar factories as its members and is the biggest state federation of its kind in the country. The federation makes efforts for fair returns to cane growers.
Up to ]945, there were about 145 joint stock sugar factories in the country inclusive of some 12 factories in Maharashtra. In 1945, the late Vithalrao Vikhe Patil pioneered the successful cooperative sugar factory in the country at Pravaranagar in Ahmednagar district of Maharashtra, which was commissioned in 1951. Maharashtra has a very favorable agro-climatic conditions for cane cultivation. The Central Sugarcane Research Station was established in the state at Padegaon, Pune in 1930. The sugarcane growers in the state were really encouraged by the announcement in 1954 by the then Bombay state government of the 12 places in the state where sugar factories could be established, with an offer of government share capital contribution of Rs 10 lacs each. A meeting of the promoters held in the office of the Bombay State Co-operative Bank formed a central committee under the chairmanship of Prof. Dhananjayrao Gadgil for guiding the societies about the important issues like share capital, sugarcane area, irrigation, site selection, land, transport facilities, etc. The state government also appointed a cabinet sub-committee for cooperative sugar factories.
With the increase in number of cooperative sugar factories, the need of apex institutions to guide and advise the societies was felt. Hence on 11 February 1956, Bombay State Sahakari Sakhar Karkhana Sangh was registered when 14 factories (inclusive of a Khedut Factory from Surat district) were affiliated. The Sangh originally had its office at Pune, which was subsequently transferred to Mumbai in 1963 in Fort area, which again in 1986, was transferred to Sakhar Bhavan, Nariman Point. At present Maharashtra State Cooperative Sugar Factories Federation Ltd has 174 cooperative sugar factories as its members and is the biggest state federation of its kind in the country. The federation makes efforts for fair returns to cane growers.
To a question as to assessment of how much capital is required by the banks, he said: "We have an assessment of the capital required. We are not in a position to share that figure right now." According to RBI's revised estimate, deposit growth for commercial banks would be 19% for the current financial year. It is an upward revision from 18% set in April 2009 as part of a plan to maintain ample liquidity in the system. The money supply growth is also revised to 18%, up from 17°/<) projected in the annual policy statement issued in April this year.
It was important that the increased government borrowings did not crowd out credit flow to the private sector. The y-o-y growth in deposits till July 3 2009, was 21.9%. The outstanding deposit of banks stood at Rs 40,28,707 cr, according to RBI data. On deposit growth across bank groups, the pace of deposit growth for public sector banks has accelerated, while that for private and foreign banks has slowed down. For 12 months ended July 3, 2009, deposits with public sector banks increased 26.4%, up from 23.1 % witnessed in the preceding 12 months.
Private sector banks witnessed a slowdown in the deposit growth. The y-o-y growth in deposits nosedived to 6.7% as on July 3, 2009, from 17.4% year ago. As far as foreign banks are concerned, moderation in deposit growth was 16.4% as on July 3, 2009, from 20.9% a year ago. This was due to lower deposit base of these banks. Bankers felt that the status quo on policy rates would anchor interest rate expectations that could spur investment demand. They indicated that they are seeing signs of revival in the domestic
It was important that the increased government borrowings did not crowd out credit flow to the private sector. The y-o-y growth in deposits till July 3 2009, was 21.9%. The outstanding deposit of banks stood at Rs 40,28,707 cr, according to RBI data. On deposit growth across bank groups, the pace of deposit growth for public sector banks has accelerated, while that for private and foreign banks has slowed down. For 12 months ended July 3, 2009, deposits with public sector banks increased 26.4%, up from 23.1 % witnessed in the preceding 12 months.
Private sector banks witnessed a slowdown in the deposit growth. The y-o-y growth in deposits nosedived to 6.7% as on July 3, 2009, from 17.4% year ago. As far as foreign banks are concerned, moderation in deposit growth was 16.4% as on July 3, 2009, from 20.9% a year ago. This was due to lower deposit base of these banks. Bankers felt that the status quo on policy rates would anchor interest rate expectations that could spur investment demand. They indicated that they are seeing signs of revival in the domestic
numbers show that capital goods and consumer nondurables have still not picked up. We will also have to make sure that the credit flow is well-regulated and prudent. We cannot allow credit policy to deteriorate in order to increase flow of credit. There is no proposal to direct credit to infrastructure beyond what's already there. There have been requests to raise the single borrower limit for banks lending to corporates. But we have decided not to increase the limit. We can't ensure directed flow of credit to particular sectors, except in crisis situations. We want long-term credit flows to improve."
On the issue of measures to direct credit to the core sector and whether RBI making concessional long-term loans available to capital goods sector, he said: "We will do whatever is within the ambit of the monetary policy to ensure that there is adequate credit. The RBI's objective is to ensure credit flow to all productive sectors of the economy. The latest industrial index of production
Reserve Bank of India Governor Dr D. Subbarao released the document 'Macroeconomic and Monetary Developments: First Quarter Review 2009·10' recently. Mehul Dani reports on his speech and the subsequent interactive session. Excerpts:
RBI Governor D Subbaro has said that there is a scope for banks to lower lending rates further. "Banks say that the demand for credit is picking up on the back of investment in projects. The bankers informed me that the demand for credit in certain segments like home and retail is picking up, which was a welcome sign. There is a scope for reducing lending rates within the policy rate adjustments already done by RBI. Interest rates for short-term credit should be about 9.5% but these are about 1O.5'YtJ. So, there is scope. As deposits contracted at higher rates mature and get re-priced, the cost of money to banks will come down and they can look to reduce lending rates," Subbarao said after presenting the first quarter review of the monetary policy on 28 July 2009.
The RBI prodded banks to lower lending rates, saying the full pass-through of the monetary policy rate changes had not taken place. Besides, it said banks could pass on the benefits of the lower cost of funds due to the reduction in deposit rates initiated over the past several months.
On being asked about the steep yield curve that may result in a liquidity trap, Subbarao said: "We do have tried to influence the yield curve. After a review, we changed the maturity profile of the government borrowing in order to manage the yields towards small loans and others."
To a question as to whether the worst is over, he said: "I wish I could definitively say that. Our financial sector only had hiccups and didn't have deep structural problems. But the challenge going forward is to increase flow of credit. We talked to bankers and they said the demand for credit had come down. We talk to the corporate sector and they say the supply has dried up, so there is a mismatch there."
The RBI prodded banks to lower lending rates, saying the full pass-through of the monetary policy rate changes had not taken place. Besides, it said banks could pass on the benefits of the lower cost of funds due to the reduction in deposit rates initiated over the past several months.
On being asked about the steep yield curve that may result in a liquidity trap, Subbarao said: "We do have tried to influence the yield curve. After a review, we changed the maturity profile of the government borrowing in order to manage the yields towards small loans and others."
To a question as to whether the worst is over, he said: "I wish I could definitively say that. Our financial sector only had hiccups and didn't have deep structural problems. But the challenge going forward is to increase flow of credit. We talked to bankers and they said the demand for credit had come down. We talk to the corporate sector and they say the supply has dried up, so there is a mismatch there."
National Federation of Cooperative Sugar Factories Ltd (NFCSF), under the guidance of its current MD, Vinay Kumar, promotes and develops cooperatives of sugarcane growers and proVides support, services and guidance to its affiliated cooperative sugar factories and state and zonal level Federations of cooperative sugar factories for their efficient and sustained working.
A.K. Jain, financial adviser, NFCSF, said: "At present there are 249 cooperative sugar factories in operation, and most of the factories and state federations are members. Among our members, Maharashtra, Uttar Pradesh and Gujarat have the most number of cooperatives. The role of the NFCSF is to protect their interest. We arc also providing consultancy services to the member sugar factories. In case, the cooperative sugar factories are desirous of obtaining loan from the NCDC, we help them by the liasoning with them."
"The financial wing of NFCSF has been helping new cooperative sugar factories and expansion projects in obtaining term loans from central financial institutions, preparing of feasibility and project reports, cash flow, etc. The financial wing also prepares memoranda for submission to Commission for Agricultural Costs & Prices (CACP) and Bureau of Industrial Costs and Prices (BICP) for fixation of minimum sugarcane price and levy sugar price, so that the interest of the sugarcane farmers arc taken care of. This is very exhaustive work, done after collection and compilation of data from factories. The wing also looks into the credit, excise and taxation problems of the member factories to ensure smooth functioning of the factories."
The volume of work handled by the technical cell of NFCSF can be gauged by the fact that since its establishment in 1977, as many as 160 new cooperative sugar factories have been set up and 70 cooperative sugar factories have availed of its services for expansion purpose. Besides NFCSF has also undertaken rehabilitation packages for 24 sick cooperative sugar mills of the country. In addition to above, 13 numbers DPR for optimization / rehabilitation-cum-modernisation and balancing of the sugar factories, 4 Detailed Project Reprt for new sugar factories, 3 DPR for cogeneration and 3 DPR for ethanol projects have been prepared. In case of working sugar factories, the cell has prepared projects for modernisation/expansion schemes, improvement
A.K. Jain, financial adviser, NFCSF, said: "At present there are 249 cooperative sugar factories in operation, and most of the factories and state federations are members. Among our members, Maharashtra, Uttar Pradesh and Gujarat have the most number of cooperatives. The role of the NFCSF is to protect their interest. We arc also providing consultancy services to the member sugar factories. In case, the cooperative sugar factories are desirous of obtaining loan from the NCDC, we help them by the liasoning with them."
"The financial wing of NFCSF has been helping new cooperative sugar factories and expansion projects in obtaining term loans from central financial institutions, preparing of feasibility and project reports, cash flow, etc. The financial wing also prepares memoranda for submission to Commission for Agricultural Costs & Prices (CACP) and Bureau of Industrial Costs and Prices (BICP) for fixation of minimum sugarcane price and levy sugar price, so that the interest of the sugarcane farmers arc taken care of. This is very exhaustive work, done after collection and compilation of data from factories. The wing also looks into the credit, excise and taxation problems of the member factories to ensure smooth functioning of the factories."
The volume of work handled by the technical cell of NFCSF can be gauged by the fact that since its establishment in 1977, as many as 160 new cooperative sugar factories have been set up and 70 cooperative sugar factories have availed of its services for expansion purpose. Besides NFCSF has also undertaken rehabilitation packages for 24 sick cooperative sugar mills of the country. In addition to above, 13 numbers DPR for optimization / rehabilitation-cum-modernisation and balancing of the sugar factories, 4 Detailed Project Reprt for new sugar factories, 3 DPR for cogeneration and 3 DPR for ethanol projects have been prepared. In case of working sugar factories, the cell has prepared projects for modernisation/expansion schemes, improvement
National Cooperative Development Corporation (NCDC) has been promoting establishment and development of sugar factories in the cooperative sector so as to help them in achieving the primary objective of ensuring remunerative prices to the farmers for sugarcane by proViding the investment loan assistance to the state governments to supplement their resources for equity participation in new cooperative sugar mills. [t also provides term loan assistance to the existing cooperative sugar mills for modernization and expansion, including setting up of effluent treatment plants for pollution control and term loan assistance for establishment of sugar byproduct units.
K.P. Vaish, chief director, Sugar,
NCDC, said that during 2008-09, CDC provided financial assistance to 23 sugar cooperatives to the tune of Rs 419 cr. Uttar Pradesh got Rs 206 cr, followed by Maharashtra with Rs 150 cr, Gujarat Rs 49 cr, Tamil adu Rs 9 cr and Andhra Pradesh Rs 5.66 cr. In Maharashtra 16 sugar cooperative factories received the assistance, while in Gujarat 3, Andhra Pradesh 2 and Tamil Nadu as well as UP each with I cooperative got the assistance. The composite amount proVided by NCDC to sugar cooperatives in last 3 years stood at Rs 1,526 cr.
Vaish added that during 2008-09, the Sugar Development Fund (SDF) has sanctioned Rs 51 cr and released Rs 45 cr as assistance for the modernization-cum-expansion projects implemented with NCDC's help. During the year 2005-06, the corporation has sanctioned and released assistance of Rs 903 cr and Rs 800 cr respectively, for the development of cooperative sugar industry. Cumulatively, it has prOVided assistance of Rs 2,767 cr up to 31 March 2006. During 2005-06, SDF had sanctioned and released assistance of Rs 12.76 cr and Rs 11.01 cr, respectively, for the modernization cum expansion projects. SDF has up to 31 March 2006, proVided assistance of Rs 349.2 cr through NCDC. Vaish further said that the total amount of the term loan assistance for modernization-cum-expansion of cooperative sugar mills in 2008 09 isRs 33.98 cr. Also, NCDC proVided Rs 38.59 cr by way of the term loan assistance for establishment of sugar bye-product units in 2008-09. Activity-wise sanction and release for sugar sector for 2008-09 was Rs 10.46 cr and Rs 4.59 cr respectively. In order to improve the overall performance of the existing cooperative sugar factories, NCDC has been providing assistance for implementing modernization-cum-expansion of sugar factories up to a capacity of 10,000 TCD. The debt-equity ratio is normally 1: 1.
K.P. Vaish, chief director, Sugar,
NCDC, said that during 2008-09, CDC provided financial assistance to 23 sugar cooperatives to the tune of Rs 419 cr. Uttar Pradesh got Rs 206 cr, followed by Maharashtra with Rs 150 cr, Gujarat Rs 49 cr, Tamil adu Rs 9 cr and Andhra Pradesh Rs 5.66 cr. In Maharashtra 16 sugar cooperative factories received the assistance, while in Gujarat 3, Andhra Pradesh 2 and Tamil Nadu as well as UP each with I cooperative got the assistance. The composite amount proVided by NCDC to sugar cooperatives in last 3 years stood at Rs 1,526 cr.
Vaish added that during 2008-09, the Sugar Development Fund (SDF) has sanctioned Rs 51 cr and released Rs 45 cr as assistance for the modernization-cum-expansion projects implemented with NCDC's help. During the year 2005-06, the corporation has sanctioned and released assistance of Rs 903 cr and Rs 800 cr respectively, for the development of cooperative sugar industry. Cumulatively, it has prOVided assistance of Rs 2,767 cr up to 31 March 2006. During 2005-06, SDF had sanctioned and released assistance of Rs 12.76 cr and Rs 11.01 cr, respectively, for the modernization cum expansion projects. SDF has up to 31 March 2006, proVided assistance of Rs 349.2 cr through NCDC. Vaish further said that the total amount of the term loan assistance for modernization-cum-expansion of cooperative sugar mills in 2008 09 isRs 33.98 cr. Also, NCDC proVided Rs 38.59 cr by way of the term loan assistance for establishment of sugar bye-product units in 2008-09. Activity-wise sanction and release for sugar sector for 2008-09 was Rs 10.46 cr and Rs 4.59 cr respectively. In order to improve the overall performance of the existing cooperative sugar factories, NCDC has been providing assistance for implementing modernization-cum-expansion of sugar factories up to a capacity of 10,000 TCD. The debt-equity ratio is normally 1: 1.
The central government recently agreed to raise the price mills must pay to farmers for sugarcane to Rs 107.76 per 100 kg in the new season from October 2009. This increase in the minimum support price mills will have to pay for sugarcane is from Rs 81.18 per 100 kg in 2008-09. As far as the progress in kharif sowing is concerned, the cropped areas in the country for sugarcane as on 3 July 2009 are 42.50 lakh hectare, which was ~3.79 lakh hectare as on 31]uly 2008.
Pune based Vanarai Trust, an NGO involved in rural development, under the presidentship of Mohan Dharia, has developed a web based software to help farmers to take investment decisions on farming operations on their land. The software has been developed by the Software Institute for Rural Development (SIRD), Pune and has been jointly funded by NABARD under its Rural Innovation Fund and by the Department of Science & Technology, government of India. The software covers 65 farm and allied activities which are relevant to the agro climatic conditions prevailing in Maharashtra. The software provides all necessary information related to the selected farm / allied activities like the quantity and source of inputs like seeds, the farm practices to be followed (spacing of plants, soil nutrient requirements, irrigation requirements, fertilizer/ preventive pesticides applications needed, etc), expected yield under the farm conditions, the prevailing market prices for the produce and the overall profitability of taking up the activity at the farm level.
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