Bitcoin is making a lot of people roll in dough and some of them are even making history. Here’s referring to the likes of sly Winklevoss twins who made is REALLY big!   When you talk about Bitcoin, one name you will hear is Satoshi Nakamoto.  Who is Satoshi Nakamoto ?

Their name first came into light when they embarked on a legal battle with Mark Zuckerberg citing the theft of Facebook’s idea from them. They now again are hogging the limelight for becoming the first Bitcoin billionaires and the credit goes to the cryptocurrency shooting through a consistent high valuation US $11,400 for each bitcoin. Below are the few things that you need to know about the Winklevoss duo:

The two brothers are called Winklevoss brother whose names are Cameron and Tyler respectively. They were born on Aug 21, 1981 and flourished as internet entrepreneurs. They attended Harvard between  2000-2004.

They were born on Southampton, New York and raised in Greenwich, Connecticut and attended the Greenwich Country Day School and Brunswick School in the aftermath. They were known to be fond of Latin and Ancient Greek in school. In Harvard University, they majored in Economics where they graduated in the year 2004. They rowed in the Blue Boat in the Oxford-Cambridge Boat Race which earned them the Oxford Blue.

They claim to have coined the idea of Facebook before Mark Zuckerberg and even sued Zuckerberg lately saying he the latter stole the idea from them.

The social networking site that they were meaning to launched would have been called ‘Harvard Connect’

The two won eventually won the lawsuit and won a $65 million payout from Facebook’s end from which they used $11 million in 2013 to buy a huge cache of Bitcoin.

It was a pretty risky bet that they bought around 100,000 Bitcoins which is approximately one percent of the entire World’s finite supply when Bitcoin was at its nascent. Back then, each coin was worth $120.

The excelled in Rowing, the brothers. They championed in the 2008 Beijing Olympics on behalf of the US.

With Bitcoin’s value surging up to an overwhelming $11,395 last week, their name came in the spotlight as the first High profile Bitcoin Billionaires of the World. There is, however another person who keeps his visual identity veiled and introduced himself as Satoshi Nakamoto owns a Bitcoin wallet with that amount. Satoshi also apparently is the creator of cryptocurrency.

So far, the twins have never sold any part of their Bitcoin hoard. They have taken this step to launch an exchange traded fund in New York.

The two have reportedly bought the seats on the first flight of Richard Branson’s Virgin Galactic Shuttle using their Bitcoin profits in March 2014. The brothers are now worth more than 1 billion dollars after capitalizing on the surprising rise in Bitcoin.

There is everything you needed to know about the billionaire twins in the above.

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Common in the workplace or at home that you regret after using unfair terms or when you make some mistakes. You should apologize, it is a feeling in your mind as well as the soul wants the same. So you can consider that apologies and regrets are signs of your mistakes.

But, how bold and brave you are to recognize your mistakes and you do not refuse to be work? Yes, you need to be an honest person to explain it, that know your mistakes and work on your mistakes. The feeling of apology and regrets are higher than simply using the term to get rid of your faults. More you dare to work on the faults stronger is your confidence.

Benefits of knowing your signs of mistakes

When you can learn about your mistakes, you start regretting about it, remember that it will help you in improving yourself.

Signs of Leadership

No intention of creating similar mistakes and work prominently will increase the power of knowing better. Implementing them as your experience to organize a disciplined working ability.

Stop implying on incorrect position

When you start recognizing the signs of mistakes it will help you in focussing on the proper terms of work. No longer an affinity lays when you will keep struggling in the incorrect position. As you know it is wrong! so it is time to redo or apply some other procedure. You are always saving your time and be productive.

Increases loyalty

When you are ready to admit a mistake, obviously doing so will increase the authenticity of yourself and the organization. As we know that there is always a space for improvement and so as the mistakes are identified. You may or may not regret but the points of errors can be easily rectified provided a better facade to your projects.

Develop trust

With the accomplishment of work successfully, overcoming loads of regrets, mistakes, and rectifications you will find that there is a hidden trust developing. This will always accelerate in developing a better work field and strong relationships.

You don’t stop learning

As we continue solving the hurdles unfolding the problems, it is always a step forward to learning something more that you knew earlier.  Whenever there is difficulty in solving problems, you can take grand challenges. No more mistakes will discourage you from working to learning each time affectionately.

Develops working capacity in critical conditions

Automatically or incautiously you can work in critical conditions, as you slowly and unknowingly develop the ability to work in toughest and critical conditions. Immediate solving capability and rectifying error to develop the best output is possible even under stress and critical conditions.

Regretting from your mistakes and apologizing indicates genuine features of a leader, so whenever you understand the signs of your mistakes it is the opportunity to understand your power of leadership. Never discourage the feelings of apologies and regrets as they will slowly turn up to the stepping stones to success.  

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Dual minded consciousness is seen women while men lack behind in multi-tasking. For this particular reason, women are found to be working better than men. Though the quality may act as a psychological problem if, not been able to work properly. Unlike men, it is mostly the characteristic that is observed in women.

The gender differences have led to the development of the dual minded consciousness in females. It started benefitting women, once they had done more than one task at a time at the workplace and home. Women are known for their handling capacity with proper responsibility.

Multiple roles

When you watch closely women, the realization of their roles, and the way they try to maintain them can be observed. Being a mother they look after her kids when they need food, they need to play and their sleeping time. Excellently they can manage multiple roles with her husband and parents.

Apart from the personal life, they have stepped in the working field the insecure games of mind slowly grows with confidence and their dual mindedness encourages them to handle their work field in a more effective and versatile manner.

Good management skills

No longer one has to explain the excellence in the management skills of a woman. This is due to the dual minded consciousness that a woman works with this inbuilt skills. Cooking food according to the choices of the family members, reminding them about their important tasks which are not at all her job to take care of, but she does.

All the household requirements from the shopping for groceries to the laundry work all are done by her skills of multitasking. Similarly while working in an office a woman is found to be a more active and good presence of mind compared to a man. A woman has a natural leadership characteristic, that makes her a good employee in her work field.

Growth of self-esteem

The growth of self-esteem in women is seen in multi-tasking minds when they can complete their work. Putting a mind into different tasks at a time acts challenging, so whenever the works are over, it develops confidence within. Women can work at home and office, stay, and do for her family as well as earn for her living. Altogether the busy lifestyle helps in growing self-esteem.

Committed to her roles

The dual minded consciousness has motivated her to stay committed to her relationship and workplace. With the gender discrimination of men and women that indicated that men can do better at workplaces. While women cannot drive, they are better at purchasing groceries and in the kitchen. Finally pulled the women from the old boxes of thoughts and build them as multitasking compared to men.

Talking over phone or clients, and reading the document is a dual-task if you observe a woman working. They can concentrate at the same time talking to a client and reading the documents. Women can stabilize in the multiple roles of dual minded consciousness

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Work stress has never been a good reason for a healthy workplace of the employees nor has it been a productive solution for better and maximum work. It is already known to us that the best way to remove stress to turn more creative and worry-free is through the addition of humor sense to boost energy.

Fun and humor have shown a reason when employees like to spend time working with interest, stay creative, and also stay healthy. Connection over humor becomes easier between the workers that can also develop the energy levels.

   
The different ways of humor sense that can develop a better workplace are:

A co-worker will like to be with you

While you work in an office it is always important that you can work in a team. As a team, each person should have the connection, less hesitation to execute a work. Employees mostly face a problem of communication and interaction which mostly leads to problems in delay in work.
To increase the pace at work the only way is the use of humor that will encourage and reduce the hesitation at the workplace of the employees.

Self-confidence
Another reason for the employees to work with stress is the lack of knowledge or idea of the work and so they feel the pressure as the number of workers increases. In such cases so that they can contact the head or team leader without any second thought it is important to ease the relationship which is possible through the humor sense. Employees will be able to grow their self-confidence when they can complete the work as a team.

Leadership
A friendly and funny boss has always been the most favorable of all workers. Whenever a discussion is carried out with proper execution and direction of work but under a less stressful atmosphere is more worthy. So, whenever you find a leader with a good sense of humor, will always be the attractive and best boss. Employees will not hesitate to ask about their doubts which will help in productive work.

Communication
While working in an office you cannot expect everyone to be like minded people. The difficulties can be in languages, culture, and working skills. In such situations the best cracking of jokes, laughter can reduce the hesitation. Humor sense is the best way to develop communication among the entire employees of the office.

Be Happy
Whenever any employee enters the office, it is sure that they will have a smile without any sign of stress on their face. While leaving despite several problems and issues in the work they will be stepping out with the tendency that it will be fixed or solved the next day. No matter what!

Humor sense increases the mindset of the people, they do not mind to work and give their level best. Offices who are looking for long term employees should encourage fun and humor sense in their workplace.

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Making Money – These days, things are getting costlier and hence it is getting tougher to make ends meet.

We all need to cut corners for survival and compromise on many wishes. Being poor or mediocre is frustrating, it doesn’t mean you have to limit yourself in just finances but also in other requirements of life.

While you bristle at being poor, there are people who have put themselves together to break free this compromising zone and make a killing.

Of course, you don’t have to expect a handsome inheritance from a rich relative by miracle overnight but you need to believe in yourself that you too can make more money by just pushing the envelope.

There may be some sinister habits that you are hostage to, stopping you from achieving that feat so read about them here.

Making Money –

१ – Don’t dare think about stopping to work:

Because your savings would dry up and you will need to mentally prepare yourself for facing every eventuality. You may not be able to support the lifestyle of yours more than three months and that is pretty deplorable. Even a rich person can’t live on his savings for over three months because he is accustomed to a opulent lifestyle already.

2 – You are not ready to pay the real price:

You always look forward to sale what rich people certainly not do. This is a poverty mentality that you need to immediately steer clear of. While you wait for sale, you want to buy the product in cheaper prices, work less yourself while seeing other people work. Rich people would never compromise on their salary to get the quality things in right price.

3 – You spend more hours to reach at work:

There is a popular saying that ‘Time is money’ which you don’t quite adhere to it seems. You can earn money but time slips away imperceptibly. You need to take the short cut route in case if you are spending more than two hours to reach office. Make your commute useful by researching on more ways in which you can earn more money and jump the gun.

4 – You have many outstanding bills:

Well, that is outlandish. There may be phone or telephone bills that are waiting to be paid and you pay no heed to them which is not what rich people do. You should also fix a budget for the bills that is not more than 40% of your income. If you exceed the 40% mark of paying the bills, you need to forget about your comfortable lifestyle, it is not something you can afford.

5 – You have lesser patience:

You want everything just now and lose sight of the amount of money you earn. The smarter person knows how to grow by learning, oiling, and gathering knowledge now that can be useful for the future. It is sometimes better to get a job in less salary in a company which lets you learn a many things that will expand your resume in the long haul.

6 – You can’t wait to spend money:

You spend a lot of fortune before you earn it. That is not how one plans a great future. Credit cards, in this bargain makes you comfortably spend money without looking at your bank balance so you should keep those credit card offering calls at bay immediately. Because, no one wants to part with the real money when it comes to pay the bank back, right?

7 – You make yourself aloof from your family:

Estranging from your family or staying aloof doesn’t make you a successful person from any which angle. You need the support of your family to build up a successful career because if you stay aloof from your family, you are only breeding enemies who can destroy all your efforts eventually.

Making Money – So, these are the things that are holding back your strings and stopping you from making money. In case if you are incidental to any of these, think already!

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Failed Indian brands – When a company becomes larger, it grows the tenacity to take risks. One can exhaust millions of dollars into the market research and ad campaigns which leads to enormous success but these are also formulaic of miserable failures.

There have been worst product failures that really shook the market.

Companies, in pursuit to respond a competitor’s successful idea, end up taking wrong decisions and such mishaps happen. In this bargain, they not only lose the consumer’s attention, the company’s good will also goes for a toss.

We will discuss about 10 such Failed Indian brands:

Failed Indian brands –

1. Timberland:

You find this logo superficially familiar? Let us give you a brief about the company which was established in the US back in 1920s and never had the intention to launch itself in India. It is an extraordinary brand for trekking and outdoor shoes but sadly, could not do much business in India.

2. Adibas:

This was a copy venture of Adidas which faced a miserable fate in India. Generally, fake brands are available across the footpaths but this brand launched itself with a lot of chest thumping, god knows why? Never mind, it got its due.

3. Chevrolet:

Chevrolet winded up from Indian market on 31^st December, 2017 but the owners of Chevrolet cars can avail their services in the Mahindra outlets. The tough market condition made this general motor company to wrap up all the outlets from the Indian cities thereby leaving the customers flabbergasted.

4. Kingfisher:

The premium and world-class airline group founded by Vijay Mallya was based in Bangalore and boasted of 400 flights per day once. But it mired in some controversies and had to bear the brunt of customer complaints such as lack of delegation, misbehaviour, unnecessary burning of fuel and lack of attention from the owner who was busy handling another business. It had to shut down completely hence.

5. Danone dairy business:

Danone tried to Indianise everything but received little-to-no positive response from the buyers. It almost had to struggle hard to survive and succumbed to the poor market share nevertheless.

6. Bisleri Pop:

The mineral water giant launched soft drinks in various flavours such as Pina Colada, Spyci, Limonata, Fonzo but died due to lack of acceptance from the audience.

7. Taxi4sure:

This company was a taken over by Ola and then shut down eventually for the poor market condition. Remember? There was a small tab ‘Taxi4sure’ in the Ola application?

8. Kizashi:

This car was manufactured by Japanese automaker Suzuki which died a not too slow death for being overpriced and Ciaz with the same design and lessened prices came out.

9. Volkswagen Beetle:

Only 500 cars have sold in the Indian market which made it a laughing stock already. It had a hilariously high price too.

10. Nano:

Tata Nano which brewed quite the storm in tea-cups failed as the company announced it was going to be the cheapest car of the nation which will be run by battery, not fuel. But it later got mired in political controversies and the marketing went wrong too. No prizes for guessing, this car from the house of Tata failed too.

These are failed Indian brands – We think you still have faint memory of these products but we really feel sad for the owners who have invested in the aforesaid car brands. Not always what the company promises, develops.

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Most And Least Stressful Jobs

Unambiguously stress is inevitable part, no matter you are in which profession.

But the level of stress differ from one job to other. There are many demanding jobs wherein professionals who risk their lives and face unpredictable and dangerous conditions.

And there are some jobs that proffer high pay and low pressure  jobs like librarian, hairstylist or dietitian among others  As per the research by Career Cast they have classified jobs  that score low and high on the stress scale.

Scroll down and read on to know about which are most and least stressful jobs at present as per research done by Career Cast:

1. Enlisted military personnel: 84.78

 Military officers work round the clock for our safety without any doubt they have the most stressful job. They face worst and unexpected conditions.

2. Firefighter: 60.59

After militia, firefighters gets second spot in the list as they face high-stake situations. This job is life threatening one but unfortunately has low job growth.

3. Airline pilot: 60.46

No doubt many of us aspire to pilot, but it is very demanding job as consequences of mistake can cost lives of so many people. So if are you ready to cope with stress  then you must go for this highly laudable job.

4. Police officer: 53.82

Police officers indeed are stressed up. In India, police officials are very less in number in comparison to the population. Pressure is 24/7 in this job.

5. Event coordinator: 49.93

Event field may seem all glam and happening but it’s highly taxing one as it is no regular 9-5 job. Behind a successful show there are professionals who go on to work hours and hours with not that happening working conditions, good amount of travelling and  is super large.

6. Public relations executive: 48.46

PR personnel have to be ready at any given time and are expected to stick to deadlines no matter what. The stress is high mostly when they have to arm themselves during crisis situations.

7. Senior corporate executive: 47.46

If you think, corporate executives have the best and the only think they do is just have meetings then you are wrong. Endless hours in thinking and handling large base is tough job.

8. Broadcaster: 47.30

They are always under pressure and work 365 days as they have the onus of delivering the breaking news as soon as possible. As soon as any incident occur they have to prepare and deliver news  over the air on radio and television and there is no room for mistake.

9. Newspaper reporter: 46.76

Their work profile is similar to that of broadcaster. No matter how is the situation, reporters have to be active and agile to report no matter what. This job demands a lot from employee. as this job is mix of desk and on field work which is exhausting and stressful.

10. Taxi driver: 46.33

Taxi driver ranked 10th in the list. It is vital for them to stay alert all the time. They have to face accident like situation and pressure of long working hours.

Here are this year’s least stressful jobs and their stress scores:

1… Information security analyst: 3.80

2… Diagnostic medical sonographer: 4.00

3… Tenured university professor: 6.94

4… Hairstylist: 7.47

5… Medical records technician: 7.55

6… Medical laboratory technician: 8.98

7… Jeweler: 9.10

8… Audiologist: 9.30

9… Dietitian: 10.23

10… Librarian: 10.58

What are your thoughts on these most and least stressful jobs? Sound off your views and opinions in comments below.

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Maverick, Risk taker and People’s man – these adjectives aptly personifies the self-made richest man of India– Dilip Shanghvi.

His enormous appetite for risk and never say never attitude escalated him to numero uno position.

This Pharma magnate surpassed Mukesh Ambani as India’s wealthiest man and he has also been named in the list of Asia’s top ten wealthiest self-made billionaires. And that’s not an easy feat.

Let us have a look at his journey of this leader extraordinaire :

Who is Dilip Sanghavi?

Dilip Sanghavi- the first generation entrepreneur, is chairman and managing director of Sun Pharma Advanced Research Co Ltd.

He has a net worth of Rs. 1.25 lakh crores according to Bloomberg Billionaire Index. Recently he dethroned Mukesh Ambani whose estimated net worth is 1.23 lakh crore.

Humble beginning

Dilip was born in a middle-class family and hails from a small town of Amreli, Gujarat. He completed his education by receiving Bachelor of Commerce degree from the University of Calcutta.

He started his career as drug distributor and later he thought what every other service man thinks that’s to start his own business

27-year-old Shanghvi, borrowed Rs10,000 from his father to lay the foundation of his first company Sun Pharma in Vapi in the year 1982.

What Led To The Success?

Sun Pharma’s growth and success can be attributed to his acquisition tactic and people management skills.

He has this unique skill to turn around companies which are in distress.

As mentioned, he steered growth due to his ability to take calculative risks. His first acquisition was in 1996 when he took over Knoll Pharma and this takeover led to more expansions.

And later he went on to acquire or JV more 19-20 companies including famous loss making firms not only in India but also overseas. Take over of companies like Israel based Taro, US based Carao Pharma and India based Ranbaxy made Sun Pharma a big player in international as well as in the domestic market.

A Great Leader For Young Folks

This trailblazer faced many roadblocks on his way to success but he steered his firm to success and now his organization is India’s largest drug maker and most valuable drug firm.

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If you were gifted an iPhone 6 or a holiday package to your international dream destination or gym membership by your employer, would you still be more loyal to your girlfriend/boyfriend and bunk office to meet her/him?

No, right?

If you are still finding it an exaggeration, then let me tell you this:

Tech Giant Infosys CEO Vishal Sikka has gifted iPhone 6 to 3000 top performing employees! Reports are that this move has come, keeping in mind the high attrition rate of Infosys. (20.1% in the July- September quarter)

The year that passed by saw tremendous changes in the company with even retired NR Murthy called to reinvigorate the falling empire of the 8 billion dollar enterprise that Infosys is and former CEO SD Shibulal stepping down from his position to finally make way for Sikka to come and reign the company to bring it back to its previous glory.

It seems Sikka is playing a pivotal role in the transformation of the people and the processes by not only playing the happy Santa Claus for his employees but also declaring a 100 percent bonus to 1.65 lakh (the total count of people working with Infosys currently) employees for the December quarter and recognizing its people’s efforts in the growth of the company.

He has transcended the usual employer-employee bond and understanding and made the whole encounter a more engaging, free, friendly and interactive one. Not only did he address the top employees as ‘friends’ in his Thank You Mail after gifting them the iPhones, but also introduced changes and evolved some processes such as quarterly promotions, conversion of variable pay to fixed pay and involving more number of employees in the problem-solving and decision-making processes of the company.

Male employees of Infosys are happy that the dress code is now more relaxing and they only have to wear ties once a week! Reward and recognition seems to be high on the priority list of the CEO as he has streamlined internal processes, made Internet readily available and easily accessible for all employees across different profiles and even increased the amount set for team awards. Apparently, he also persuaded people putting down their papers in the company to stay back and even asked some former employees to join back Infosys.

While Sikka, the new Santa Claus of Infosys, expressed his appreciation of and happiness at the considerably good performance of some employees, writing these lines in the mail,

“Infosys had taken your boundless energy and extraordinary effort. And I believe it’s not enough that we simply recognize it, we must celebrate it. That’s why I am so happy that we are presenting you with a Holiday Bonus – the cool new Apple iPhone 6. A gift that’ll always remind you and your teammates of the exceptional value you delivered for Infosys,” the employees are taken aback by this gesture and some of them have resorted to Twitter to express their joys and surprise:

Finally got recognised @Infosys thanks for iPhone 6 @vsikka

— shirish shukla (@shirishs00) January 6, 2015

Recognised and got an iPhone 6 from the CEO. Feeling awesome 😀 Thank you @Infosys @vsikka #iPhone6

— Stalliano (@Abhi_Hansolo) January 6, 2015

Since there are many IT companies booming now-a-days, corporates of HCL made 130 of its employees have the opportunity to drive home Mercedes or go on a holiday spree with their families to a domestic or international trip for which the company will seek to bear all expenses. There were 70 of these people who actually won the Mercedes in 2013 for exceptional performances. Owning a company owned flat and cars or jewellery apart from discount vouchers for offline as well as online shopping, all are common tokens of appreciation that the companies are dolling out these days for increasing retention rates.

Some companies also choose to offer benefits such as mediclaim policies, dental insurance, retirement benefits, tuition fee and training benefits, child care policies, annual leaves or flexible leave systems, etc.

These policies and benefits are not only helpful in lowering the attrition rates but also make the employees have a healthy work-life balance so that they can be more productive and energetic at work.

Genpact, the business process outsourcing company also has launched this process where the employees can opt to go on a sabbatical whether for learning new skills and techniques or pursuing higher studies. Even Apollo Munich Health Insurance has come up with a system called ‘leave bank’ where co-workers can get leaves for emergency situations as some employees donate leaves to the bank. Must say, nice technique to create a bond between the employees and integrate the whole team into a unit with mutual benefits for all the employees as well as the company itself.

We say that these tangible and intangible ways of performance appraisals and bonuses along with increased pay packages are sure shot ways to strike a bond with an employee and retain him/her in the company for a long term.

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The Supreme Court on Tuesday expressed apprehension that the investors who put their money in Sahara’s Optionally Fully Convertible Debentures (OFCD) in 2008 could be fictitious. The bench of Justice K.S. Radhakrishnan and Justice J.S. Khehar expressed their apprehension as it was told that 80 percent of the more than three crore investors have been paid back their invested amount and there were no demands.

“We have doubts whether investors are there,” Justice Radhakrishnan said. The court’s apprehension came during the hearing of a contempt petition by the Securities and Exchange Board of India (SEBI) against Sahara chief Subrata Roy, its three directors and two companies – Sahara India Real Estate Corporation Limited and Sahara Housing Investment Corporation Limited – for not complying with the Aug 31, 2012 and subsequent orders.

The apex court by its Aug 31 order had asked Sahara to deposit Rs.24,000 crore with market regulator SEBI so that it could be returned to investors. The two Sahara Companies SIRECL and SHICL had collected this money through OFCD. As counsel C.A. Sundaram told the court that Rs.19,000 crore of investors’ money would be mobilised by selling unencumbered properties of Sahara, the court said it was hearing this for the last one and half years but nothing has happened. The court repeatedly asked the counsel as to why Sahara did not comply with its orders, and said it repeatedly gave opportunities but those were of no avail.

“That was our indulgence. You said go to hell. We accommodated you again and you pushed us in the corner. That is what has brought us here,” the court told counsel Ram Jethmalani as he urged the court to let past be past and consider the latest proposal by Sahara.

“It was for it to sell the properties, it was its own headache as there was many ifs and buts,” the court said adding “it is your own choosing. We tried our best but you advanced one excuse after the other. You never allowed the matter to proceed”. “Should every litigant behave with us like this? Should we allow them to behave like this? Why you allowed your client to behave like this?” the court told Jethmalani as he sought to impress upon the court about the sincere efforts of Sahara to comply with the court’s various orders.

As Sahara on Tuesday offered to sell its properties to mobilise the money backed by bank guarantees, the court told it that let the sale be done by it as it can fetch best prices. Counsel Arvind Dattar, appearing for SEBI, told the court that Sahara had better understanding of the real estate market plus it was in this business all over the country.

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Leading UAE telecom operator Etisalat and India’s Airtel, with operations in 20 countries across Asia and Africa, on Sunday announced they have entered into a partnership to set up a multi-service regional network infrastructure node in Etisalat’s SmartHub facility in the region.

The all new multi-service regional network infrastructure node includes Airtel’s Multiprotocol Label Switching (MPLS) services supported by its world class global network. This will allow Airtel to provide advanced data and wholesale services to its customers in the Middle East and Africa and enhance regional connectivity through Etisalat’s extensive regional network.

It will also provide a platform to Etisalat to reach out to key global business hubs such as Africa and India. “We are proud that Bharti Airtel, a long-time Etisalat partner, has chosen SmartHub,” said Ali Amiri, executive vice president of carrier and wholesale in Etisalat. “The facility will offer Airtel an array of regional connectivity options both in and out of the region. This partnership will also enable direct routing of traffic between the Middle East and Africa, Asia and Europe. We look forward to many more years of cooperation with Bharti Airtel and are delighted to be working closely with them to enhance the customer experience.”

Etisalat’s Smarthub is the region’s largest capacity, content, internet and data hub in the Middle East. Smarthub provides regional access for global service providers and global access to the region. “The collaboration with Etisalat will further help us to cater to the growing bandwidth demands of our enterprise and carrier customers in the region,” said Ajay Chitkara, Bharti Airtel CEO for global business

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Sahara India chief Subrata Roy surrendered before police here Friday, a day after they failed to trace him to execute a Supreme Court warrant for his arrest. He was arrested and sent to police custody at a guest house till March 4.

The Supreme Court earlier Friday declined to revoke the arrest warrant.

Roy was scheduled to address a press conference at a hotel in New Delhi, but Sahara officials told police that he was willing to give himself up. He then surrendered and was arrested.

Sources said that soon after his surrender, Delhi Police sought his transit remand.

Chief Judicial Magistrate Anand Kumar later said Roy will be kept in police custody till the apex court hearing March 4.

Roy was late Friday sent to a forest department guest house at the Kukrail picnic spot near Lucknow, where he will spend the next three days in police custody.

The Sahara chief walked into the court around 5.30 p.m., and his counsel V.K. Shahi said Roy was a law-abiding citizen and was not running away from the court.

The chief judicial magistrate, however, left it to the discretion of police to decide whether to keep Roy in his bungalow or somewhere else.

The surrender came soon after Roy released a statement to the media, saying he was not absconding.

“I am not that human being who will abscond. In fact, being a law-abiding citizen, I shall hate myself to do any such thing ever in my life,” he said.

Roy had Thursday informed the court that his non-appearance was neither intentional nor deliberate.

The apex court Feb 26 had issued a non-bailable arrest warrant against Roy for failing to appear before it in person as directed by the court. In its order Friday, it declined to revoke the warrant.

Roy had said he was absent since he wanted to be with his ailing mother, who is 92.

“Last evening, I had gone out of Sahara Shaher, Lucknow, to consult with a panel of doctors with certain medical reports of my mother and then I had gone to a lawyers’ house also,” he said in the statement Friday.

“I was informed by my family members that police had come and they said something to the media and then the whole media in the country started saying I am absconding,” he said, adding: “Am I absconding? I have started hating myself.”

He said a lot of people advised him to get himself admitted to some hospital and could remain there, as was the “general practice to avoid courts” on for medical reasons. “However, I hate to do such drama.”

The Supreme Court had directed the presence of Roy and the three directors of his group firms following their failure to submit to the market regulator title deeds of some of the unencumbered properties. The directors had since surrendered.

The court order was to secure the balance of Rs.19,000 crore out of Rs.24,000 crore that these firms had collected through optionally fully-convertible debentures. These Sahara companies had deposited Rs.5,120 crore with the regulator in December 2012.

The matter has been listed for further hearing March 4, even as Roy requested the court to allow him to be with his mother till March 3.

The Sahara chief drove to the chief judicial magistrate court in a fleet of luxury cars.

Accompanied by lawyers, family members and Sahara officials, Roy was taken straight inside the court where the entry of journalists was barred by police.

A source told IANS that the chief judicial magistrate lost his temper at Roy’s counsel after he came to the court at 3 p.m. but the Sahara chief did not show up.

The court was closed Friday and the chief judicial magistrate came owing to the urgency of the matter.

When the court later asked Roy if he had something to say, a relaxed Roy laughed and replied: “Waise to main ghar par hi rehna chahoonga (I would like to remain at home).”

IANS

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Reliance Industries has taken strong exception to the allegations of money laundering made by AAP on Thursday, called them “false”, “defamatory” and “baseless”, and said the matter had already been adequately responded to and addressed in courts and by regulators.

The statement of denial titled “:rehash of old allegation” came a few of hours after Aam Aadmi Party leader and senior lawyer Prashant Bhushan charged the UPA government with ignoring a probe request three years ago by the Indian mission in Singapore against Reliance Industries and its chairman Mukesh Ambani.

“The allegations made by Prashant Bhushan today (Thursday) are highly defamatory, false, irresponsible and devoid of any merit or substance whatsoever,” Reliance Industries said in the statement. “These false allegations have been repeatedly made and their regurgitation in the media is fuelling an orchestrated, politically-motivated campaign against us,” the statement added.

Earlier in the day, the AAP statement to the media alleged the UPA government had not bothered to investigate what it termed as “an open and shut case of huge money laundering” against the company and its chairman. “This is despite that fact that the Indian High Commission in Singapore had written to the central government as far back as Aug 31, 2011, requesting such an investigation,” said the statement.

The party alleged that Rs.6,530 crore had been invested in some of the arms of Reliance Industries by a company in Singapore, which, it added, not only claimed to be a small firm but also had no office, no equity and filed no tax returns in that country. “The high commission had stated that all this money has gone into Reliance (Industries) group of companies in India with the major chunk going to Reliance Gas Transportation Infrastructure Ltd., which is a company 100 percent owned by Mukesh Ambani personally.” The Singapore company has since closed, the party said, and sought to name its owner. But Reliance strongly refuted all the claims.

“The investments by Biometrix were open, transparent and perfectly legitimate transactions in full compliance with the extant regulations. These investments in the Indian companies were made by Biometrix out of loans raised from ICICI Bank, Singapore branch,” said the company. “ICICI Bank has confirmed this fact to the regulators. Regulatory authorities have fully investigated the matter and have found no substance in the allegations of money laundering. The insinuation that this money was from “gold plating” from KG-D6 (Krishna-Godavari gas exploration block awarded to Reliance) is completely irresponsible and false.”

The company went on to add that such allegations had been levelled earlier by Bhushan in judicial proceedings in the Delhi High Court and that they had been appropriately responded to, including the letter of Indian high commission in Singapore. “The allegations that ill-gotten laundered money or profits have either been made or that these have been deposited in the accounts of Mr. Mukesh Ambani through Singapore or otherwise are false and are treated by us with the contempt that they deserve,” said the company, also adding that Biometrix has filed its balance sheets and tax returns each year with the Singapore regulators.

“We are refraining from making any further comment at this stage since the allegations relating to Biometrix are a part of judicial proceedings.”

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World’s biggest mobile messaging service #WhatsApp intends to add voice calling feature to its free messaging service in the second quarter of 2014, it was announced Monday.

The move is aimed at enabling #WhatsApp users to be able to make calls, just as they can now text messages.

The latest announcement answers some of the questions behind WhatsApp’s recent purchase by Facebook for a price of $19 billion, Xinhua reported.

WhatsApp founder and chief executive Jan Koum, while addressing the opening day of the Mobile World Congress in Barcelona, Spain, confirmed the aim was to introduce voice calls, initially on the iPhone and Android.

Windows Phones and BlackBerrys will be included at a later date, he added.

“We are adding voice to WhatsApp so that people can stay in touch with friends and loved ones no matter where they are in the world,” said Koum.

“We use the least amount of bandwidth and we have optimised it. We have made sure the quality is there,” Koum said, adding there were no other plans to change his company in the new Facebook era.

“WhatsApp will continue to function as if it is an independent company without adding to its small staff of just 55 employees as the intention is for it to be able to remain as adaptable as possible.”

IANS

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Citigroup’s former Indian-American CEO Vikram Pandit is partnering with the co-author of the popular “Freakonomics” book series to launch a new consulting business, according to a media report.

Aimed at helping companies improve their cultures and use of technology, Pandit’s new firm called TGG, is promoting “a novel approach to address the challenges that large complex organizations face in compliance, fraud, corruption, and culture and reputation,” according to the Wall Street Journal.

“We think the results are transformative for companies looking to create a culture of performance and integrity,” Hamid Biglari, one of Pandit’s former Citigroup lieutenants and a managing partner of the new venture, was quoted as saying in an email to top executives at Deutsche Bank.

Another plus, according to the email cited by the Journal: Pandit and Biglari’s “domain expertise” from their time running Citigroup. Biglari’s email says TGG’s partners include Steven Levitt, co-author of the “Freakonomics” series that combines economics with everyday decision-making, and Daniel Kahneman, a winner of the Nobel Prize in economics. Levitt and Kahneman already helped create a Chicago-based consulting firm called The Greatest Good.

The venture is the latest effort by the 57-year-old Pandit to bounce back after leaving Citigroup two years ago. TGG’s aim is to use insights into human behaviour, economics and so-called big data-the crunching of ever-greater volumes of information more quickly and deeply-to help large, complex companies analyze employee behavior, management decision-making, business models and strategy, the Journal said.

The new company doesn’t have any clients yet, but Pandit and Biglari plan to use their networks of CEO contacts around the world to identify prospective customers in the banking industry and beyond, it said citing a person with knowledge of their plans.

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Information technology (IT), pharmaceutical, agri-based industries and banking sectors will remain the largest employment generation sectors in 2014, industry lobby Associated Chambers of Commerce and Industry of India (Assocham) said in a recent report.

“These sectors will stand out despite the fact that the present state of economy where in a large majority of sectors, net employment is being lost and not created does not support large scale employment,” the study said. 

The report said that employment generation in India will benefit from economic recovery in the US.

“A large number of American firms are expected to increase their IT spend as consumer sales pick up there. Over 60 per cent of the India’s 75 billion software and service exports are dependent on the US market,” the report said.

The report further said that top end IT firms and consulting firms will remain active in campus recruitment in 2014. 

“Since our economy still remains a good mix of organised and unorganised, large corporates and small enterprises, a large number of people in rural India dependent on agriculture and the tertiary industries, there are inherent and inbuilt strengths which come handy when the chips are down,“ Rana Kapoor, president, Assocham said.

The report also reveled that recruitment from the pharmaceuticals sector would remain active, though the aggregate number would be much smaller than the IT sector, followed by agro-based industries.

“Agriculture sector has posted robust growth in 2013 and is likely to do so in 2014, based on better prospects for the Rabi crop. The positive spin off would be evident in a whole lot of industries which are directly linked,” the report said.

The report added that banking sector will be another employment generators in 2014, particularly in the public sector.

“A huge number of backlog vacancies have to be filled up in the public sector banks. 
For the private sector, new licences likely to be given before April, will throw new opportunities,” the report added.

IANS

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Chinese industrial businesses saw their profits rise 15.1 percent year-on-year in October, slowing from 18.4 percent in September, official data showed on Thursday.

Total profits of industrial companies with annual revenues of more than 20 million yuan ($3.3 million) reached 581 billion yuan in October, Xinhua cited from a National Bureau of Statistics (NBS) statement.

In the first 10 months, their profits rose 13.7 percent from the same period last year to 4.63 trillion yuan, accelerating from 13.5 percent in the first nine months.

Among the 41 industries surveyed, 35 posted year-on-year profit growth during the January-October period, five saw their profit decline, while the oil refining, cooking and nuclear fuel processing sector turned losses into gains, the NBS said.

In a breakdown, private businesses led the growth, with their combined profits up 17.5 percent year-on-year in the first 10 months, while state-run enterprises saw profits up 9.1 percent during the period.

-IANS

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Having set out to open 150 properties in India in the next one decade, hurdles created by various authorities and government departments are a worrying factor for global hospitality giant Inter-Continental Hotels Group (IHG).

“There are a lot of challenges in India. There are many hurdles to get business done here. There are so many problems with local authorities. It is not easy here,” IHG vice president (Operations, Southwest Asia) Douglas Martell told IANS in an interview in Kochi where IHG has two properties.

“There are a lot of things that you take for granted from the authorities in other countries. Here, you are dealing with so many departments and people. Getting clearances takes a lot of time and effort,” Martell said.

“Sometimes, I feel sorry for the owners as they deal with these problems and projects get delayed and costs keep going up. It takes just three years to set up a hotel in China whereas in India it can take up to seven years. This pushes up the cost considerably,” Martell, who hails from Melbourne, said.

Though Martell feels that India and China have some similarities, the system works better in China. “There you can slow things (projects) down but you cannot stop growth. The Chinese also have a sense of pride for quality and getting the best things,” he said.

Martell, who was stationed in China for five years and took the IHG hotels count from 40 to 220 in that period, says IHG is looking at India for new hotels as it “will witness the fastest growing demand” for rooms in the next 20 years.

“With a huge young population and a fast growing middle class, India has big potential. We are building a platform for the future,” he said.

The IHG, which owns international brands like Inter-Continental Hotels, Crowne Plaza, Holiday Inn and Holiday Inn Express and manages over 4,650 hotels worldwide, at present has 15 hotels with over 2,550 rooms across India. Most of the 135 upcoming hotels in the next one decade in India will be the Crowne Plaza, Holiday Inn and Holiday Inn Express brands. The majority of them will be in the Metros and Tier-II cities.

“Nearly 88 percent of these will be business hotels under the Holiday Inn and Holiday Inn Express brands. We want to be No.1 in India in the mid-scale hotels category by 2030,” Martell said.

Keeping in mind the needs of Indian middle-class guests, the IHG is looking at hotels at leading religious centres and also trying to adapt to local needs.

“Unlike other countries, where the Holiday Inn Express hotels do not have restaurants, all our hotels here (in India) will have restaurants which will be outsourced. In one location, the Express hotel will be fully vegetarian keeping in mind the local sentiments,” Martell said.

In recent years, the number of domestic guests in IHG hotels has swelled to 80 percent of the total guests. “Earlier, it was 80 percent foreign guests. The trend is reversing,” Martell pointed out, justifying why IHG still sees a lot of potential in the Indian market despite the hurdles.

“We keep getting a lot of offers to open new hotels. However, we sometimes refuse tie-up offers as we are very particular about maintaining our standards, especially where the properties fail to come up to our international safety standards,” Martell said.

-IANS

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Jet Airways Wednesday said it has completed 24 percent stake sale to Abu Dhabi-based carrier Etihad Airways for Rs.2,069 crore.

Jet Airways said in a statement that “both airlines closed the transaction for the subscription of a 24 percent equity stake by Etihad Airways in Jet Airways”.

“All requisite Indian regulatory approvals had been obtained by Nov 12, 2013. Jet Airways has, on Nov 20, 2013, issued and allotted 27,263,372 equity shares of a face value of Rs.10 each at a price of Rs.754.7361607 per equity share on a preferential basis to Etihad Airways,” the statement said.

“The infusion of foreign direct investment in the aviation sector will result in economies of scale, grow traffic at our airports, and create job opportunities,” said Naresh Goyal, chairman of Jet Airways.

“I am confident that this investment will greatly benefit all our stakeholders whilst significantly benefiting our customers who will now have access to a more expanded global network,” Goyal said.

Goyal also stressed that together with Etihad Airways, Jet Airways would enhance connectivity for tourists, business travellers, Indian families and the wider travelling public.

James Hogan, president and chief executive officer of Etihad Airways said: “India is one of the largest and fastest-growing markets in the world and a key part of the Etihad Airways growth strategy.”

“Through this association, Etihad Airways and Jet Airways will both be strengthened, as will the economies of India and the UAE. By linking our two networks and adding new flights, new routes and more code-share options, travel to, from and within India will become much easier,” Hogan said in statement.

IANS

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Samsung Electronics became the world ‘s No.1 handset seller across all continents in the third quarter, winning the title for the first time in the company’s history, a US-based market researcher said on Wednesday.

Samsung ranked first in terms of global handset sales in the third quarter in all six continents, including North America, Western Europe, Asia Pacific, Latin America and Eastern Europe as well as Middle East and Africa, where Samsung beat Nokia for the first time, Xinhua cited from a report by Strategic Analytics.

Samsung sold a total of 120.1 million mobile phones across the globe in the third quarter, taking up the market share of 28.6 percent.

The company sold 15.8 million mobile phones in the Middle East and African region during the quarter, higher than Nokia’s 14.7 million sales. Samsung’s market share in the region was 36.4 percent, jumping from 24.4 percent last year.

In Western Europe, difference of market share between Samsung and Nokia widened to 27.7 percentage points in the third quarter, with the gaps in Latin America and Eastern Europe gaining to 13.4 percentage points and 14.4 percentage points respectively.

In the North American region, Samsung’s market share declined 3. 4 percentage points in the third quarter due to the launch of Apple’s new models, but the South Korean company maintained the No. 1 position in the region with a market share 9 percentage points higher than Apple’s.

-IANS

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