Top corporate planning to raise funds abroad at cheaper rates may be in for a rude shock. Despite the expected end to the liquidity crisis next year, instead of a fall in their borrowing costs, they may have to pay extra as political/reform risk premium. The debt market has been bracing for a rating downgrade for India. ICICI Bank’s and Tata Motors’ credit default swaps (CDS) — derivatives that provide insurance against defaults — have been quoting at spreads of above 1,000 basis points (bps) for the past few days. CDS spreads measure the premium to the risk-free interest rate. Overseas borrowing costs for Indian companies have risen dramatically in the past one year. Last year, Indian corporates could raise five-year funds at Libor plus 50-75 basis points. This has now gone up to at least 350 bps above Libor. Reason for this is the reduction in appetite for Indian paper because of oversupply and high leveraging following M&A activity. Corporate profitability is seen to be under pressure. Also, Elections will result in lenders pricing in political risk premium, thus increasing cost. Fears of downgrade in the medium term continue to loom despite S&P reaffirmation.

date4 Nov

I was hopeless and really depressed by Indian stars performances at Olympics 2008 and it reached at its peak when saw the news that Anju Bobby George failed to qualify for women’s long jump event. I have a special consideration for her. She is a malayalee yaar. Beautiful too. When the Malayalam newspaper gave a chance, I wished her good luck too. Gone was gone. Sushil Kumar

Here comes happy news. My friend Nicky came and gave me the news update. Wrestler Sushil Kumar claimed India’s second medal at the Beijing Olympics when he won the bronze in the 66kg Freestyle event on today. This is the first time since 1952 Helsinki Olympics that India has won two medals in a single Olympics. Khashaba Dadasaheb Jadhav was the last Indian wrestler to win a medal, when he won bronze in 1952.

Hearty congratulations Sushil.

 

date20 Aug

Facing an imminent impeachment, Pakistan President Pervez Musharraf on Monday announced his resignation maintaining that he wanted to avoid the country being put into instability and confrontation.

“No impeachment or no chargesheet can stand against me… But I think this is not the time for individual bravado. This is the time for serious thought. In the interest of the country, I have decided to resign. The resignation will reach the National Assembly speaker shortly,” the 65-year-old former army chief said in an emotional internationally televised address.

Pakistan’s Senate Chairman Mohammed Mian Soomro will take over as acting president, Law Minister Farooq Naek said.

Musharraf’s decision brings to an end a bitter confrontation between the presidency and the five-month-old Pakistan People’s Party-led coalition government that has been gunning for him since its victory in the February 18 elections.

With his announcement, all speculation about his putting up a fight in Parliament has ended, but still it was not clear whether he would be given any immunity while he stays in Pakistan or a safe passage.

The ruling coalition, especially PML-N chief Nawaz Sharif who was dethroned by Musharraf in an October 1999 bloodless coup and PPP chief chief Asif Ali Zardari, had asked him to quit to avoid being impeached.

His spokesmen had always maintained that he would not quit under pressure and would face the impeachment, a motion regarding which was to be tabled in National Assembly on Tuesday.

Musharraf was to be charged with various wrongdoings, including violation of Constitution, murder of democracy and economic misconduct.

In his address, Musharraf asserted that all his decisions during his nine-year rule were in ‘national interest’ as he recounted the ‘achievements’ in all areas.

“Now, they want to impeach me. Are they afraid of my Constitutional powers? Impeachment and chargesheet is Parliament’s right. To give a reply is my right. Whatever I have done, I have done for Pakistan, its people. Whatever the chargesheet I have no fear,” Musharraf said.

“But questions arise as to what impact the impeachment will have on the country; whether the country will descend into further instability and confrontation; whether the office of presidency should come under pressure. Should it come under impeachment procedure?” he asked.

He said whether he won or lost, the country will stand to lose if the impeachment was undertaken.

“The dignity of the office of the president will be affected. The country’s dignity will be maintained,” he added.

Contending that he had dedicated 44 years of his life in the service of the nation as an army man, Musharraf said he was taking the decision to quit to avoid the prolonging of the “atmosphere of uncertainty” and to save Parliament from horse-trading.

“I don’t want to put my friends (supporters) in problem. Even if the impeachment is defeated, the relationship between the presidency and the government will be bitter,” Musharraf said.

He said he could have adopted a different course if he had done anything in self-interest. But he avoided that as impeachment could lead to acrimony between Parliament and judiciary and the army could be dragged into it “which I never want”.

“Keeping all this in view and taking into account all the factors and in consultation with legal experts, supporters and close aides and on their advise and in the interest of the country I have decided to resign,” a grim Musharraf said.

“I don’t need anything for me. I put my future in the hands of the people,” he said, adding, “I too am human and could have made some mistakes. I hope these will be pardoned because by intentions were clear.”

Musharraf said his supporters wanted him to continue, but the decision to resign was the need of the hour.

Describing the allegations made by the ruling coalition against him as “false and baseless”, which will harm the country, he said all his decisions were taken in consultation with all stakeholders including politicians, army and bureaucrats on board.

Musharraf said that the people were being misled by the allegations against him. “They may damage me, but they are damaging the country’s interests.”

He also claimed that he had always strove for reconciliation, but the ruling coalition has chosen the path of confrontation. “At the personal and Constitutional level no vendetta was practiced by me. Unfortunately all my efforts to promote reconciliation, my pleas to forget the past and look to the future have failed,” Musharraf said in his hour-long speech.

He recounted the situation faced by Pakistan when he took over power when there was a threat of the country being “declared a terrorist state and people with Kalashnikov rifles and hood were moving about freely.”

He also said that he had revived the Pakistani economy, worked for women’s emancipation and improved the situation in various sectors.

Musharraf claimed he had brought the “essence of democracy” in Pakistan. “Being an army man, I am perceived as anti-democratic. But earlier democracy was just a label on a bottle. I brought the essence to it by successfully holding elections… The February 18 polls were free, fair and transparent,” he said.

Source – rediff .com

Thank you very much Mr. Musharraf. Hope Pakistan will get a good democratic rule again.

date18 Aug

Super hero

American swimmer Michael Fred Phelps won 8 gold medals and become the all-time most successful Olympian. He is the 14-time Olympic gold medalist (the most by any Olympian) and holds seven world records in swimming. He holds the record for the most gold medals won at a single Olympics; a total of eight. Overall, Phelps has won 16 Olympic medals: six gold and two bronze at Athens in 2004, and eight gold at the 2008 Summer Olympics in Beijing.

Phelps started his olympic career in 2000 Olympic Games and got a fifth place only. His hardwork and gentleness helped him achieve this victory. Congratualtions Phelps.

Anti-Hero

Greco-roman bronze medal for 84kg wrestling was thrown by Swedish wrestler Ara Abrahamian in protest on Thursday after his bid for Olympic gold medal. During the medal ceremony, Abrahamian took the bronze from his neck, stepped out from the podium and dropped it in the middle of the wrestling mat then went out. He was later disqualified by the IOC. He had won silver medal at Athens 2004 and had great hopes about his victory. The same day he announced that he’s is going to quit the sport.

What a shame Abrahamian!!!! This is the model you are going to show the up-coming sports stars? Why you are not understanding? Many people can participate in a competition and only one can get the first place. Because of this issue, you planned to stop your wrestling career?? Very good. You don’t have sportsman spoirit and its better you retire from sports than continuing as a wrestling star.

I congratulate all the sports stars who got chance to participate in Olympics. No matter how many gold or silver you got. Participation is an important thing. If you didn’t get any medals, still you are Olympians. Try your luck next time

date17 Aug

At a time when tensions have flared up again between India and Pakistan, doctors in Delhi have saved the life of a young Pakistani engineering student by conducting a rare cardiac surgery.

A team of 11 doctors and staff at the Sir Ganga Ram Hospital has repaired 20-year-old Tayyab Niaz’s mitral valve (that controls the blood flow between the upper and lower chamber of the heart) to save his life.

Doctors said the surgery was ‘rare, tedious and needs more patience’.

‘Tayyab Niaz underwent heart treatment in Pakistan two years back but the mitral valve was ruptured during the medical procedure. Pakistani doctors referred him here and we successfully repaired the damage. Now he is fine and ready to go home,’ said Sujay Shad, the lead surgeon who carried out the surgery.

‘We carried out detailed tests and conducted an open heart surgery over a period of 90 minutes Aug 1. He was in a difficult condition and without this treatment he may have died in the near future. This is an Independence Day gift,’ Shad told IANS.

Niaz, a mechanical engineering student in Multan, had developed a faster than normal heartbeat and underwent a procedure named radio frequency ablation at the Punjab Institute of Cardiology, Karachi, two years ago.

A catheter (small tube) had got stuck inside the heart during the radio frequency ablation and at the time of extraction of this catheter his mitral valve got severely damaged.

‘Due to this damage, his heart started growing big, which means more weakness and less life span,’ Shad explained.

He said Niaz had two options – either to get operated in Pakistan where surgeons would have changed his mitral valve or come to India and get the valve repaired.

A change in valve would have meant lifelong medication, more expenditure and staying away from games like cricket and football. Shad said as Niaz was a cricket enthusiast he could not have afforded a replacement.

B.K. Rao, a veteran doctor and chairman of the hospital, said: ‘Heart valve repair is a more complex operation; it takes more time and more effort. However, the results of a successful valve repair are gratifying.’

Shad, who had been working in Britain till 2005, said a successful repair of the valve needs only a month’s medication. The treatment cost Niaz, the son of a businessman, a little over Rs.180,000.

‘He underwent a check-up Aug 14 and everything is progressing fine. We have advised him three weeks’ rest and four weeks’ medication. After that he can lead a normal life like you and me,’ he said.

Terming it as an Independence Day gift, Shad said: ‘Though Pakistan President Pervez Musharaff is speaking against India, we don’t see any difference between Indians and Pakistanis.’

‘All people need love, affection and proper medical treatment. I don’t think the common man in Pakistan has any problem with India.’

Niaz, the son of a businessman, said though he has some pain in his chest even now, he is feeling much better. The doctors, staff and the people of Delhi are very nice, he said.

‘I am taking back goodwill from India. Common people never hate Indians. I think it’s the politicians who create the problem.’

Source – yahoo News, August 15, 2008

Happy Independence Day to you Friends

date15 Aug

Dear Google,

Please do not misunderstand me. I know that you have copyright for all these images. Here I am just sharing with my friends. Sometimes they might not seen it.  So please don’t take any action against me and my site.

Regards,
Jinu Sunil



 
 
 
 



You have noticed that everyday during this Olympics google is changing the image in their  homepage.

date14 Aug

Abhinav BindraAbhinav Bindra won the gold for the Men’s 10m Air Rifle. He wrote a new chapter in Indian Olympics History. This is India’s first individual gold medal at the Olympics, and the first gold in 28 years, after the Men’s Hockey team won the gold medal in 1980 Moscow Olympics. Bindra finished with 700.5 points; defeat Zhu who had 699.7 points for the silver. Hakkinen got the bronze with 699.4.

Something about him

Abhinav Bindra is a Sports man and CEO of Abhinav Futuristics, a PC games peripherals distributor based in Chandigarh. At the age of 15, Abhinav Bindra was the youngest participant at the 1998 Commonwealth Games and two years later he was the youngest shooter at the 2000 Olympic Games. He won six gold medals at various international meets in 2001. In the Air rifle event at the 2002 Commonwealth Games, Manchester, he won Gold in the Pairs event and Silver in the individual event. At the 2004 Olympic Games, he broke the Olympic record but failed to win a medal. He is a recipient of the Arjuna award in 2001 and the Rajiv Gandhi Khel Ratna award for the year 2001-2002. Abhinav Bindra’s potential talent was first spotted by Lt. Col. J.S. Dhillon. He was Bindra’s first coach. Apart from being a shooter, Abhinav Bindra holds an M.B.A. (Masters in Business Administration).

Click here for more – http://en.wikipedia.org/wiki/Abhinav_Bindra

See his response about the victory -

“It can’t get better than this, can it? I know India was waiting for this for a long time and so was I. I narrowly missed a medal at Athens so I knew I would be in with a chance if I focused on the job.”

date11 Aug

beijing 2008 olympicsKaterina Emmons of the Czech Republic won the first gold medal (Women’s 10m Air Rifle) of the 2008 Olympic Games on Saturday. It was a big shock for the Chinese Olympic Association. The hosts arranged the game finals in such a way that they could get the first gold medal of the Olympics 2008. When I read this news I thought its better to get the first gold medal to some other country. The Chinese shooter Du Li, who won the gold medal and set a record in Athens in 2004, was their hope but she entered the final round and finished in fifth only.

In the qualification round, Emmons shot a great 400, which was equal to the World Record and set a new Olympic Record. The previous Olympic Record was 399. In the final round, Emmons shot 103.5 and scored 503.5, which covered the previous record of 502.0 set by China’s Du Li at Athens 2004.

In 2004 Athens Olympics Katerina Emmons won bronze only. Congratulations Katerina. Your hard work helped you and you deserve the prize. Katerina Emmons got her partner also from the Olympics only. She’s the wife of American rifle shooter Matt Emmons who won gold medal in 2004 Olympics.

Chinese press is putting a lot of pressure on the Chinese athletes. It is very hard for them. Come on China; take everything in a sports-man spirit.  Don’t be over-confident on your team and underestimate other country people.

date10 Aug

Have you heard about this before? Today it is a big business in India. Anand village in western Gujarat is famous for surrogated mothers. Ladies who are ready to give their uterus for rent will get up to 1 lac. In most of the cases, foreigners are paying this much amount to get a rented mother. Poor ladies from Indian villages are agreeing for this contract. There are protections rising against this contract. Today I read news about this. So I thought write about that. One Japanese couple made a surrogacy arrangement with an Indian lady. The Ikh fumi couples didn’t have a child for many years. So they approached surrogate mother and paid the money. On July 25th a baby girl was delivered. But the problem really happened when his wife separated from him and said she doesn’t want a child like this. Only couples can adopt such a child. According to Indian law, only couples can adopt a baby from here and a single man cannot adopt a baby girl. As there’s not much law protection for surrogacy, normally couples are going for adoption to get a child. The new born Manchi can’t leave India without a passport. When Ikh Fumi  tried for a passport, they sent him to the Japanese Embassy.  Then they wanted him to come with some proof that shows his relation to the baby. His Indian friend’s wife only feeding the baby now. Now they have approached the court for justice. Manchi is now known as the first orphan born through Surrogacy by the press. Because of the serial bomb blasts in Ahmedabad, now the baby is sent to a hospital in Jaipur. Hope she will get parents and relatives very soon.

What is surrogacy?

Surrogacy is an agreement between a woman and a couple/ individual to carry and deliver a baby. It is a contentious process that is not legal in all states. The surrogate mother is also known as a gestational carrier. This process is an expensive, time consuming, and emotional one. Women or couples who decide surrogacy often do so because they are unable to conceive due to a missing or abnormal uterus, have experienced multiple pregnancy losses, or have had multiple in vitro fertilization attempts that have failed. The advantage of gestational surrogacy to the parents is that the embryo is created from the woman’s egg and the man’s sperm, so it is biologically theirs. In gestational surrogacy, the embryo is implanted in the surrogate through in vitro fertilization. The surrogate carries the baby to term, then gives up the child and signs over parental rights at birth. Usually, the couple pays legal fees, agency fees if applicable, and a fee to the carrier. If the carrier does not have health insurance that covers prenatal care and delivery, the couple would most likely pay those costs also.

There are some more reasons for surrogacy. Many foreigners believes Indians are very good in culture and intelligence. So a baby from an indian mother will be more bright and strong. Some modern ladies who are not ready to carry a baby for a long time like 9+ months and but still wants a baby of their husband, try for such a baby.
Disadvantages of surrogacy include the possibility that the surrogate will change her mind about giving up the rights after birth. Some couples also worry about legal issues. There might also be differences between the couple and the carrier regarding medical, nutritional, or testing issues. The success rate of surrogacy cannot be determined because it is dependent on many factors. Now many ladies are finding it an easy way to make huge amount of money. What you think about this???

date8 Aug

According to George W. Bush “The march of democracy will lead to world peace” and according to Leon Trotsky, a Marxist theorist, assumed that the world revolution would lead to a communist world peace. But I feel thinking about the uncertainty of your life will lead to peace. If you can find peace in you, then you can spread that peace to your family, society and at last to our whole world. All the wars and terrorism are the creation of some peace-less minds. And the cost we are paying for that is too much. So many innocent people are victims of some other people’s cruelty and entertainment. Some people are thinking that they are doing some “Holy War” – Jihad. Jihad is an Islamic term and is a religious duty of Muslims and the word meaning is “striving in the way of Allah”. It doesn’t mean to kill others to reach the top. All the recent happenings forced most of the people and officials around the globe to watch Muslims with suspected eyes. It is really painful. I don’t think that any of the spiritual books like Qur’an, Bible or Vedas want people to destroy fellow beings and make their stand safe. If you are ready to forgive, 99% problems will be solved. See the condition of Palestine and Israel. The common people are afraid to come out from their houses. Anytime bombs will fall on them. Kids can’t go to schools. I don’t know whether the condition has changed or not.

In my India also there are too many bomb blasting and terrorist attacks now a days. Many places are under the shadow of terrorist attack. Too many political issues also. I don’t like other country people only when they plays cricket against us. That’s the team spirit. Otherwise I love all.  Think about people in Africa and other poor countries. They are struggling for food and water. If the developed and war liking countries can save something by stopping the disputes and contribute that to these people… I know you also have some feeling for them at least the time when you see the forwarded mails explaining their life battle.  I don’t know what I can do to stop these wars, disputes, conflicts and poverty. Still my prayers are there. If you believe there’s a power over all these, no matter what you call that power, pray for the world peace.

I have only one thing to tell the terrorists and war lovers – Jiyo Aur Jeene Do (Live and Let Live).

date1 Aug
snowflake snowflake snowflake snowflake snowflake snowflake snowflake snowflake snowflake snowflake snowflake snowflake snowflake snowflake snowflake snowflake snowflake snowflake snowflake snowflake