Thursday, March 12, 2009
Gates richest; 355 drop off billionaires' list
Washington: Despite losing $18 billion over the last 12 months, Bill Gates has reclaimed his title as the richest man in the world with a total net worth of $40 billion. As the number of billionaires on the planet shrank, Warren Buffett slipped to No. 2 with $37 billion, after losing $25 billion in the past year due to the decline in value of Berkshire Hathaway stock, according to Forbes' 2009 list of the World's Billionaires. Mexican telecom titan Carlos Slim Helu lost $25 billion, and came in at No. 3. The top 3 on Forbes' list have lost a combined $68 billion in the past year as the total number of billionaires fell to 793 from 1,125. This marks the first time since 2003 that the number of billionaires worldwide has dropped from one year to the next. The 355 billionaires who fell off the list this year include former AIG chief executive Maurice "Hank" Greenberg, former head of Citigroup Sandy Weill, and Facebook founder Mark Zuckerberg. Even among those who have managed to remain billionaires, there has been a vast decrease in wealth: the total net worth of this year's list is $2.4 trillion, down $2 trillion from $4.4 trillion last year. The average billionaire is now worth $3 billion, down from $3.9 billion in 2008. Anil Ambani (No. 34) was last year's biggest gainer and is this year's biggest loser: he lost $32 billion over the last 12 months. Fellow Indian Lakshmi Mittal (No. 8) also endured significant losses, with $25.7 billion wiped from his personal fortune during the past year. The 2009 list represents citizens from 52 countries and one principality. As fortunes fell in Asia and Russia, Americans once again dominate the superrich, occupying 10 of the Top 20 spots, up from only four last year. Russia has lost nearly two-thirds of its billionaires during the past year and is down to 32 billionaires. The 10 biggest dollar losers on this year's list lost a combined $238 billion in the past year, more than the GDP of Ireland or Israel. Still, these tycoons are worth a combined $175 billion, and half of them are still among the 10 richest people on the planet.
'India's own Google Earth' causes security worries
New Delhi: India is launching its own version of Google Earth for urban planning, officials said, amid worries that it could be misused after the Mumbai attacks probe showed militants had studied Google images of targets. India's version of Google Earth called Bhuvan, is a web-based service developed by India's National Remote Sensing Centre (NRSC).The service is aimed at helping scientists, town planners and administrators in areas of disaster management as well, officials said.It is expected to go one better than Google Earth, helping viewers gauge the soil type and ground water potential across the mainland with high resolution images and data from satellites."We are working with the government for a 2.5 metre (7 feet) resolution," NRSC director V. Jayaraman, said from Hyderabad. "We'll be putting a lot of thematic information like land use, ground water potential and soil types, which are not available on Google Earth," another NRSC scientist said.But there are security concerns that Bhuvan could be misused because usage would be free. "Giving satellite images to everyone will obviously have some kind of a security impact," said Ajai Sahni of New Delhi's Institute for Conflict Management."There is a possibility of misuse of such technology," Sahni said. The lone surviving gunman of the Mumbai attacks, Mohammad Ajmal Kasab, told interrogators that all 10 gunmen were shown Google images of the locations they attacked in the country's financial capital, during their training, officials said.Nearly 170 people were killed in the three-day siege that revealed glaring loopholes in India's security system. Security analyst Uday Bhaskar said there needs to be a global consensus on availability of such technology. "There should be a global consensus on what is the kind of technology disseminated and what kind of firewall we need to erect for our own internal security," Bhaskar said.NRSC officials said important buildings could be masked
Monday, March 9, 2009
The economy runs out of stimulus
There have been, over the past few weeks, important, if scheduled, announcements on the economy, which in their entirety give valuable insights. At the end of February, the Central Statistical Organisation came out with its estimate of GDP growth for the third quarter of the current year (2008-09). Between October and December 2008, the economy grew by 5.3 per cent, way below the 7.8 per cent recorded during the first six months. Although it was known that the economy was slowing down, the extent of deceleration probably surprised the official forecasters, including the CSO, the Reserve Bank of India and the Prime Minister’s Economic Advisory Council. All three had estimated GDP growth for the year at 7 per cent and over.
The CSO had last announced its advance estimate of growth at 7.1 per cent (for 2008-09) just three weeks before it came out with the sharply lower number for the third quarter. Even the estimates of the RBI and the Economic Advisory Council were not that far back in time: both announcements were made in January.
Estimates of growth in the last quarter (January-March 2009) will be crucial in determining whether a 7 per cent growth is feasible at all. Simple arithmetic tells us that during the current quarter the economy must grow at 7.5 per cent or so to show an above 7 per cent growth for the entire year. On present indications that seems unlikely.
However, a growth rate of between 6 and 6.5 per cent is achievable. Such a rate would be quite impressive by global standards. After all the advanced economies are shrinking and, apart from China, no other major economy of the developing world can hope to match India’s rate.
The CSO had last announced its advance estimate of growth at 7.1 per cent (for 2008-09) just three weeks before it came out with the sharply lower number for the third quarter. Even the estimates of the RBI and the Economic Advisory Council were not that far back in time: both announcements were made in January.
Estimates of growth in the last quarter (January-March 2009) will be crucial in determining whether a 7 per cent growth is feasible at all. Simple arithmetic tells us that during the current quarter the economy must grow at 7.5 per cent or so to show an above 7 per cent growth for the entire year. On present indications that seems unlikely.
However, a growth rate of between 6 and 6.5 per cent is achievable. Such a rate would be quite impressive by global standards. After all the advanced economies are shrinking and, apart from China, no other major economy of the developing world can hope to match India’s rate.
ASH silly as can be.......
Iam a fan of the silly comedy genre. I think Austin Powers kicks it more than James Bond and believe Steve Martin's stupid French accent alone is funny enough to merit a franchise.
But the best inside joke of the film comes from Aishwarya Rai Bachchan when she introduces herself, a good 25 minutes into the film: "Sorry, I am late. The flight was delayed by two hours. You must be Pink Panther, the famous detective. I will not be of much use here."
Ha ha ha! Classic Rai, if you have attended any press conference of hers - walks in two hours late, and blames the flight. But surprisingly here, the lady laughs at herself, and admits she would be of no use in an ensemble such as this one. She imports the Bollywood brand of facial contortions.
Bad make-up aside, she comes across as a stunner at least in a couple of scenes - especially, where she sits cross-legged in a short formal skirt with a slit, opposite Inspector Clouseau inside the flight with make-up glittering off her bust. But that's about all the nice things we can say about her.
If you've read interviews speculating the length of her role, you probably already know the ending. Since I already did, I had no choice but to sit back and redeem whatever few laughs I could from Steve Martin and Jean Reno. And there's Andy Garcia thrown in for a bonus. Yes, French accent still makes you laugh, he's adorable as the bumbling Inspector, and even has a couple of scenes that require him to be moist-eyed. The master comedian milks the part to the last drop, and revels playing everybody's favourite goofball.
Watch him fight the karate kids, hang out at the Pope's (literally!) or snoop around a high-surveillance building, and you know there are very few actors left who can make these things funny enough to warrant a watch.
The film is all that you expect from the Pink Panther franchise - structured as a series of familiar gags that first humiliate the legendary Inspector, take him to the depths of despair, until he finally redeems his reputation with an uncanny flair for investigation and solving cases. Emily Mortimer is the perfect foil to the unlikely hero and she's bound to walk away with more fans than Ms. Rai at the end of it all. Go for it only if you are in the mood for silly slapstick.
But the best inside joke of the film comes from Aishwarya Rai Bachchan when she introduces herself, a good 25 minutes into the film: "Sorry, I am late. The flight was delayed by two hours. You must be Pink Panther, the famous detective. I will not be of much use here."
Ha ha ha! Classic Rai, if you have attended any press conference of hers - walks in two hours late, and blames the flight. But surprisingly here, the lady laughs at herself, and admits she would be of no use in an ensemble such as this one. She imports the Bollywood brand of facial contortions.
Bad make-up aside, she comes across as a stunner at least in a couple of scenes - especially, where she sits cross-legged in a short formal skirt with a slit, opposite Inspector Clouseau inside the flight with make-up glittering off her bust. But that's about all the nice things we can say about her.
If you've read interviews speculating the length of her role, you probably already know the ending. Since I already did, I had no choice but to sit back and redeem whatever few laughs I could from Steve Martin and Jean Reno. And there's Andy Garcia thrown in for a bonus. Yes, French accent still makes you laugh, he's adorable as the bumbling Inspector, and even has a couple of scenes that require him to be moist-eyed. The master comedian milks the part to the last drop, and revels playing everybody's favourite goofball.
Watch him fight the karate kids, hang out at the Pope's (literally!) or snoop around a high-surveillance building, and you know there are very few actors left who can make these things funny enough to warrant a watch.
The film is all that you expect from the Pink Panther franchise - structured as a series of familiar gags that first humiliate the legendary Inspector, take him to the depths of despair, until he finally redeems his reputation with an uncanny flair for investigation and solving cases. Emily Mortimer is the perfect foil to the unlikely hero and she's bound to walk away with more fans than Ms. Rai at the end of it all. Go for it only if you are in the mood for silly slapstick.
INDIA won the 3rd O D I
Christchurch: So distinguished is Sachin Tendulkar’s career that there’s little he hasn’t accomplished in 20 years.
But before Sunday, the great man hadn’t made a One-Day International century in New Zealand, so he remedied the glitch, riding to 163 with the majesty of a knight in full livery, lance at the ready.
Tendulkar’s 43rd century in ODIs was an innings of intelligence, control, skill, and power.
Yet, for all its grandness, 80 minutes of its creation was eclipsed by a singular exhibition of hitting from Yuvraj Singh, which — like a mafia lord worth his pesto — conveyed easy menace.
It was Yuvraj who transformed India’s innings. The left-hander made 87 of the 138-run partnership with Tendulkar, supercharging an innings that appeared as if it might stagnate, so those who followed would have it easy.
With two knocks of such quality — and splendid supplemental contributions from M.S. Dhoni and Suresh Raina — it was slightly surprising that India fell eight short of 400. Still 392 for four in 50 overs is nothing to quibble with, even accounting for the short boundaries here at the AMI Stadium and the modest New Zealand attack, which sorely missed Daniel Vettori (on paternity leave).Richly talented
As if that weren’t enough, New Zealand threatened to chase it down. Jesse Ryder and Brendon McCullum are richly talented, bruising batsmen, and helped by Indian fielding (and wicket-keeping) that was butter-fingered and heavy-footed all at once, the pair hurt India.
Ryder is rated highly in New Zealand, and on Sunday he showed why. The generously proportioned left-hander hits a hefty ball, characteristic of men with quick, heavy arms. But perhaps the most interesting aspect of his batting is the number of times he hits it right in the middle of the bat. Hot Spots thermal images of Ryder’s bat after contact with ball are always pleasingly symmetrical.
McCullum, who didn’t manage a smile since winning the toss, expelled his frustrations while batting, before, ironically, India’s fielding dented the chase. Ryder’s judgment of a single failed his opening partner, and Ross Taylor dawdled outside his crease during an appeal, while Yuvraj was alive to the possibility of a run out. Touch unfortunate
Martin Guptill was then a touch unfortunate to be adjudged leg-before. When Ryder found long-off after making a superb 105, the contest appeared to die.
It briefly came to life when Kyle Mills and Tim Southee (who had earlier become the second-most expensive one-day bowler) sparked a rousing fight-back. India appeared to fray — Munaf Patel was removed for bowling two beamers over the batsman’s waistline (the first was marginal), and frantic words were exchanged. But India held it together to take an unassailable 2-0 lead in the series.
Earlier, staggering as it may sound, there were few indications that batsmen would prosper so heartily.
The ball refused to come on, causing Tendulkar to find runs behind square on the leg-side with tucks and nudges. That isn’t to say the 35-year-old eschewed imagination; quite the contrary, for he took deliveries off his stumps and turned them to leg, thinking little of lap and slog-sweeping the seamers.
Yuvraj began with a liquid cover drive, and it actually got more spectacular. India, which at one stage had made 105 for two in 20 overs, forced the batting power play on New Zealand and realised the following runs per over: 13; 13; 12; 17; 14.
All came alike to Yuvraj although Jacob Oram’s niggardly cutters escaped the savagery reserved for the others.
The cleanness of the ball striking was astounding, particularly seeing how the batsmen before him had struggled with timing; perhaps he was helped by the track easing under the sun, but that doesn’t take away from the stillness of head and overall poise when hitting through the ball.Upping the ante
Tendulkar, who had batted in cruise mode when Yuvraj was blazing away, upped the ante. Wicket-keeper Peter McGlashan, who had done well to hold Yuvraj’s inside-edged catch, then missed stumping Dhoni — it cost New Zealand dear, as Tendulkar and Dhoni attended to the antics.
Despite tiring, Tendulkar hit Grant Elliott’s medium-pace on the up over long-off for six, and it wasn’t until he appeared to strain an abdominal muscle that he relented and left the field. But he still summoned the energy during the break between innings to meet a seven-year-old New Zealand boy named after him by cricket-mad parents.
SCOREBOARD
But before Sunday, the great man hadn’t made a One-Day International century in New Zealand, so he remedied the glitch, riding to 163 with the majesty of a knight in full livery, lance at the ready.
Tendulkar’s 43rd century in ODIs was an innings of intelligence, control, skill, and power.
Yet, for all its grandness, 80 minutes of its creation was eclipsed by a singular exhibition of hitting from Yuvraj Singh, which — like a mafia lord worth his pesto — conveyed easy menace.
It was Yuvraj who transformed India’s innings. The left-hander made 87 of the 138-run partnership with Tendulkar, supercharging an innings that appeared as if it might stagnate, so those who followed would have it easy.
With two knocks of such quality — and splendid supplemental contributions from M.S. Dhoni and Suresh Raina — it was slightly surprising that India fell eight short of 400. Still 392 for four in 50 overs is nothing to quibble with, even accounting for the short boundaries here at the AMI Stadium and the modest New Zealand attack, which sorely missed Daniel Vettori (on paternity leave).Richly talented
As if that weren’t enough, New Zealand threatened to chase it down. Jesse Ryder and Brendon McCullum are richly talented, bruising batsmen, and helped by Indian fielding (and wicket-keeping) that was butter-fingered and heavy-footed all at once, the pair hurt India.
Ryder is rated highly in New Zealand, and on Sunday he showed why. The generously proportioned left-hander hits a hefty ball, characteristic of men with quick, heavy arms. But perhaps the most interesting aspect of his batting is the number of times he hits it right in the middle of the bat. Hot Spots thermal images of Ryder’s bat after contact with ball are always pleasingly symmetrical.
McCullum, who didn’t manage a smile since winning the toss, expelled his frustrations while batting, before, ironically, India’s fielding dented the chase. Ryder’s judgment of a single failed his opening partner, and Ross Taylor dawdled outside his crease during an appeal, while Yuvraj was alive to the possibility of a run out. Touch unfortunate
Martin Guptill was then a touch unfortunate to be adjudged leg-before. When Ryder found long-off after making a superb 105, the contest appeared to die.
It briefly came to life when Kyle Mills and Tim Southee (who had earlier become the second-most expensive one-day bowler) sparked a rousing fight-back. India appeared to fray — Munaf Patel was removed for bowling two beamers over the batsman’s waistline (the first was marginal), and frantic words were exchanged. But India held it together to take an unassailable 2-0 lead in the series.
Earlier, staggering as it may sound, there were few indications that batsmen would prosper so heartily.
The ball refused to come on, causing Tendulkar to find runs behind square on the leg-side with tucks and nudges. That isn’t to say the 35-year-old eschewed imagination; quite the contrary, for he took deliveries off his stumps and turned them to leg, thinking little of lap and slog-sweeping the seamers.
Yuvraj began with a liquid cover drive, and it actually got more spectacular. India, which at one stage had made 105 for two in 20 overs, forced the batting power play on New Zealand and realised the following runs per over: 13; 13; 12; 17; 14.
All came alike to Yuvraj although Jacob Oram’s niggardly cutters escaped the savagery reserved for the others.
The cleanness of the ball striking was astounding, particularly seeing how the batsmen before him had struggled with timing; perhaps he was helped by the track easing under the sun, but that doesn’t take away from the stillness of head and overall poise when hitting through the ball.Upping the ante
Tendulkar, who had batted in cruise mode when Yuvraj was blazing away, upped the ante. Wicket-keeper Peter McGlashan, who had done well to hold Yuvraj’s inside-edged catch, then missed stumping Dhoni — it cost New Zealand dear, as Tendulkar and Dhoni attended to the antics.
Despite tiring, Tendulkar hit Grant Elliott’s medium-pace on the up over long-off for six, and it wasn’t until he appeared to strain an abdominal muscle that he relented and left the field. But he still summoned the energy during the break between innings to meet a seven-year-old New Zealand boy named after him by cricket-mad parents.
SCOREBOARD
India: V. Sehwag b Mills 3 (6b); S. Tendulkar retd. hurt 163 (133b, 16x4, 5x6); G. Gambhir c McGlashan b Butler 15 (27b, 1x4); Yuvraj c McGlashan b Elliott 87 (59b, 10x4, 6x6); M.S. Dhoni c McGlashan b Mills 68 (58b, 5x4, 2x6); S. Raina (not out) 38 (18b, 5x6); Y. Pathan (not out) 1 (2b), Extras (lb-5, nb-4, w-8): 17; Total (for four wkts. in 50 overs): 392. Fall of wickets: 1-15 (Sehwag), 2-65 (Gambhir), 3-203 (Yuvraj), 4-382 (Dhoni).
Power Plays: One (overs 1-10): 58/1; Bowling (11-15): 19/1; Batting (23-27): 69/0.
Power Plays: One (overs 1-10): 58/1; Bowling (11-15): 19/1; Batting (23-27): 69/0.
New Zealand bowling: Mills 10-0- 58-2, Southee 10-0-105-0, Butler 5-0- 37-1, Oram 8-1-34-0, J. Patel 5-0- 37-0, Ryder 5-0-56-0, Elliott 7-0-60-1.
New Zealand: J. Ryder c Zaheer b Harbhajan 105 (80b, 12x4, 4x6); B. McCullum (run out) 71 (68b, 6x4, 3x6); R. Taylor (run out) 7 (6b, 1x4); M. Guptill lbw b Yuvraj 1 (4b); G. Elliott b Zaheer 18 (24b, 1x4); J. Oram b Harbhajan 7 (11b); P. McGlashan b Zaheer 7 (9b); I. Butler b Yuvraj 24 (19b, 1x4, 1x6); K. Mills c Zaheer b Y. Pathan 54 (32b, 6x4, 3x6); T. Southee c & b Praveen 32 (20b, 3x4, 2x6); J. Patel (not out) 0 (0b), Extras (lb-2, nb-2, w-4): 8; Total (in 45.1 overs): 334.
Fall of wickets: 1-166 (McCullum), 2-179 (Taylor), 3-182 (Guptill), 4-188 (Ryder), 5-203 (Oram), 6-217 (Elliott), 7-218 (McGlashan), 8-251 (Butler), 9- 334 (Mills).
Power Plays: One (overs 1-10): 67/0; Bowling (11-15): 39/0; Batting (33-37): 23/2.
India bowling: Zaheer 9-0-65-2, Praveen 8.1-0-60-1, Munaf 7.2-0-79-0, Yuvraj 10-0-71-2, Harbhajan 10-0-60-2, Y. Pathan 0.4-0-1-1.
New Zealand: J. Ryder c Zaheer b Harbhajan 105 (80b, 12x4, 4x6); B. McCullum (run out) 71 (68b, 6x4, 3x6); R. Taylor (run out) 7 (6b, 1x4); M. Guptill lbw b Yuvraj 1 (4b); G. Elliott b Zaheer 18 (24b, 1x4); J. Oram b Harbhajan 7 (11b); P. McGlashan b Zaheer 7 (9b); I. Butler b Yuvraj 24 (19b, 1x4, 1x6); K. Mills c Zaheer b Y. Pathan 54 (32b, 6x4, 3x6); T. Southee c & b Praveen 32 (20b, 3x4, 2x6); J. Patel (not out) 0 (0b), Extras (lb-2, nb-2, w-4): 8; Total (in 45.1 overs): 334.
Fall of wickets: 1-166 (McCullum), 2-179 (Taylor), 3-182 (Guptill), 4-188 (Ryder), 5-203 (Oram), 6-217 (Elliott), 7-218 (McGlashan), 8-251 (Butler), 9- 334 (Mills).
Power Plays: One (overs 1-10): 67/0; Bowling (11-15): 39/0; Batting (33-37): 23/2.
India bowling: Zaheer 9-0-65-2, Praveen 8.1-0-60-1, Munaf 7.2-0-79-0, Yuvraj 10-0-71-2, Harbhajan 10-0-60-2, Y. Pathan 0.4-0-1-1.
U D F campaign in kottayam
KOTTAYAM: The election campaign of the United Democratic Front (UDF) for the Lok Sabha elections got under way in Kottayam on Sunday with the formal launching of Jose K Mani, Kerala Congress (M) representative, as its candidate.
A function organised at the headquarters of the party was attended by Leader of the Opposition Oommen Chandy, leaders of the other Kerala Congress factions and a large number of party workers.Congress list
Mr. Chandy said that the Congress would finalise its candidates’ list before March 15. The delay was not because of any confusion in the party over the candidates but only because of the formalities to be completed, he said.
Mr. Chandy alleged that there was a concerted effort to create confusion among voters on the alleged tussle within the coalition, but it was not true.
The need of the hour was total unity among the coalition partners in the campaign, Mr. Chandy said and added that each of the coalition members should consider the UDF candidate as its own.
Congress workers would accept Jose K. Mani as their own candidate contesting on the Congress symbol, Mr. Chandy said.Unity sought
Kerala Congress (Jacob) leader T.M. Jacob, in his speech, underscored the need for unity among coalition partners and reminded that in 17 of the seats it was the Congress which was contesting.
KC(Secular) leader P.C. George and Kerala Congress (M) chairman C.F. Thomas also spoke.
Though the official launching of the candidate was held on Sunday, Jose K. Mani, party general secretary and son of Kerala Congress (M) leader K.M. Mani, had already completed one round of house-to-house campaign in an effort to consolidate UDF votes.
A function organised at the headquarters of the party was attended by Leader of the Opposition Oommen Chandy, leaders of the other Kerala Congress factions and a large number of party workers.Congress list
Mr. Chandy said that the Congress would finalise its candidates’ list before March 15. The delay was not because of any confusion in the party over the candidates but only because of the formalities to be completed, he said.
Mr. Chandy alleged that there was a concerted effort to create confusion among voters on the alleged tussle within the coalition, but it was not true.
The need of the hour was total unity among the coalition partners in the campaign, Mr. Chandy said and added that each of the coalition members should consider the UDF candidate as its own.
Congress workers would accept Jose K. Mani as their own candidate contesting on the Congress symbol, Mr. Chandy said.Unity sought
Kerala Congress (Jacob) leader T.M. Jacob, in his speech, underscored the need for unity among coalition partners and reminded that in 17 of the seats it was the Congress which was contesting.
KC(Secular) leader P.C. George and Kerala Congress (M) chairman C.F. Thomas also spoke.
Though the official launching of the candidate was held on Sunday, Jose K. Mani, party general secretary and son of Kerala Congress (M) leader K.M. Mani, had already completed one round of house-to-house campaign in an effort to consolidate UDF votes.
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