HSBC-UK India Business Council Survey says NRIs Bullish About India
A data bank on Overseas Indians soon says MOIA--Dubai: Where even the fountains take your breath away: Daily Mail--20 OFWs Being Abused by Employer in Saudi Arabia, Many Treated as Sex Slave-Sri Lanka Lures International tourists with new summer packages-Boeing Subsidiary Opens New Customer Center in DAFZ-ADB Extends $200 Million for First Urban Development Program in India's North East--$500 million fund for Pakistan Development--Qtel approaches 2 million Mobile Customers
June 2009
Gopala Krishna Pillai is new Union Home Secretary
Nirupama Rao, IFS (1973), presently Ambassador, Beijing, is appointed as the next Foreign Secretary on the retirement of the present incumbent Shri Shivshankar Menon on July 31, 2009.
The Union Home Secretary, G.K. Pillai briefing the media after taking over the charge, in New Delhi on June 30, 2009
Gopal Krishna Pillai today took over as Union Home Secretary. He succeeds Shri Madhukar Gupta who retired on Tuesday. Pillai is an IAS officer of the 1972 Batch and belongs to the Kerala Cadre. He has held various important positions in his Cadre and at the Centre including that of Secretary, Department of Commerce. He was joint Secretary in the Ministry of Home Affairs for about 5 years. Speaking to news persons, the new Home Secretary said that there are a number of challenges including providing security to all citizens, implementation of police reforms, meeting threats from external elements, the problems of the North-East and Jammu & Kashmir and the Left Wing Extremism etc. He expressed confidence that with the support of the Union Home Minister and the Government of India, it will be possible for him to discharge his responsibilities.
NRIs Still Bullish About Investing in Home Country: Survey
Current global downturn has made India even more desirable to Non-Resident Indians (NRI) who are bullish about the country's growth and continue to invest heavily in the country of their origin, a report by the HSBC and UK India Business Council said.
"Global Indians: A study of investment attitudes" released today by the HSBC and the UK India Business Council provides new insight into non-resident Indians attitudes towards the Indian economy. According to the report, 85.7 per cent of the NRIs said "global recession has made India more attractive to businesses overseas." The survey covered NRIs in the UK, USA and Singapore. It did not cover the Non Resident Indians in the Middle East.Between April and June 2009 the UK India Business Council conducted an in depth survey of the global Non Resident Indian (NRI) professional and business communities in the US, the UK and Singapore which revealed a striking and vivid portrait. "What emerged from the research was a media savvy, highly literate, ambitious group, often with transnational careers and a global outlook. Many characteristics were shared across continents – the NRIs in each country had higher than average levels of
income and education, and all shared an enduring cultural and emotional attachment to India which continues to inform their professional lives, attitudes and aspirations," said the survey report.As much as 97.6 per cent of the NRIs described India's business potential as good or excellent while 95.3 per cent felt that India would fare better than their country of residence during the downturn, mainly due to sluggish growth and saturated markets in developed countries, coupled with strong domestic demand driven by the expanding middle classes. The most alluring sectors were found to be Information and Communication Technology (ICT), followed by the built environment, life sciences and creative and media. This is consistent with UKIBC's and UK Trade & Investment's priority sectors for UK Plc in India. Commenting on the report, UKIBC CEO Sharon Bamford said, "Global Indians have an overwhelming confidence in India's emergence and this is reflected in their existing and planned investment and business links with India.
"There are currently around 1.6 million British Indians living in the UK. The British Indian community is the fi fth largest in
the Indian Diaspora, largely due to the history of Indo-British relations," the report said.There are almost 3 million people of Indian origin living in the US, comprising around 1% of the overall population. Immigration from India to the US is currently at unprecedented high levels. The NRI community in the US is best known for its peerless excellence in scientifi c and technical disciplines. According to a University of California study, one third of Silicon Valley engineers are of Indian descent and 7% of Silicon Valley high-tech fi rms are headed by Indian CEOs. The group is also characterised by extremely high levels of educational attainment (approximately 67% have a degree compared to about 28% nationally) and levels of average income.Indians make up Singapore’s third largest ethnic group. Mass migration from the Indian subcontinent began under British
rule in the early 19th century. Singapore has long been a springboard to the emerging Asian markets.Men of Indian origin have served as two of the six Presidents of Singapore. Read the Full Survey Report HSBC-UK India Business Council Survey says NRIs Bullish About IndiaQtel Powers towards Two Million Mobile Customers
Doha, --Qtel revealed that it is set to reach a new record of two million mobile customers in Qatar within the next two weeks, as customers continue to sign-up for its popular Hala and Shahry plans. To celebrate this achievement, Qtel is making prizes worth a total of QR500,000 available for 100 lucky customers who activate new mobile accounts over the next two weeks, starting from 28 June 2009. In addition, Qtel is making a special mystery prize available for the person who activates account number Two Million during the prize draw period.
Any customer who signs up for either a Shahry - Pay Monthly or HALA Pay As You Talk plan over the next week is eligible to enter the draw, and Qtel has installed special monitoring equipment to alert the company the moment the two millionth account is activated. With Qatar's official population standing at 1.65mn in May 2009, according to the Qatar Statistics Authority (QSA), the two million customer figure represents an impressive penetration rate of 121 percent, one of the highest in the world.
Dr. Nasser Marafih, CEO, Qtel, said: "Qtel is set to celebrate a major achievement when we reach the milestone of bringing two million mobile phone users into the Qtel family. Our achievement in building this company, even in an era of increased competition, helps contribute to the ongoing growth and development of Qatar, and we are very pleased to share this success with the people with this special competition." Qtel Shops are anticipating strong demand over the coming weeks, as people across Qatar look to be the "Lucky Two Millionth Qtel Customer."Qtel's success in building its customer base, in spite of increased competition and global economic pressures, reflects both Qtel's understanding of the needs of the local market, and the underlying dynamism of the Qatari economy, according to company executives.The company, which reported reaching 1.8 million mobile customers in March 2009, has continued to attract people to its Hala and Shahry services, which have brought new levels of choice and value for money to Qatar. Both services have helped customers to enjoy lower bills and an improved range of options, as well as a range of new innovations including Shahry's "One Free Number," which means customers can choose one free number they can call free for life.The company has also launched a significant range of innovative new mobile services in the first half of 2009, such as Qtel SmartRoamer, which provides standardized local call rates for people wherever they travel.Dr. Marafih concluded: "Qtel is grateful and humbled by the ongoing support shown by the people of Qatar for our company, and we are delighted to be reaching this new record. Our Two Millionth Customer competition is our way of thanking our customers for their ongoing interest and support."
Development Banking
ADB Extends $200 Million for First Urban Development Program in India's North East
MANILA, PHILIPPINES (26 June 2009) – The Asian Development Bank (ADB) is providing up to $200 million to improve infrastructure in five state capital cities of North East India, the first time it has extended large scale assistance for urban sector development in one of the country’s most underdeveloped regions.ADB’s Board of Directors approved the multitranche financing facility for the North Eastern Region Capital Cities Development Investment Program. It will be used to upgrade basic infrastructure, such as water supply, and sanitation in the state capitals of Shillong (Meghalaya), Aizawl (Mizoram), Kohima (Nagaland), Gangtok (Sikkim) and Agartala (Tripura), benefiting an estimated 1.2 million people. The program represents one of the largest externally-funded infrastructure investments ever seen in the region.
North East India has suffered from a dearth of investment because of its remote, mountainous location, long distance from markets, high levels of poverty and unemployment, and limited private sector interest. However, plans for transport projects to link the capital cities and India’s drive to increase trade with neighboring states offer it new opportunities for development.
The loan facility from ADB’s ordinary capital resources will be made available in three or more tranches over the duration of the program implementation period from 2009 until 2015. The loans will be priced in accordance with ADB’s LIBOR-based lending facilities. The Government of India and state governments will provide an additional $85.7 million equivalent for a total estimated program cost of $285.7 million.
The funds will be used for a variety of subprojects that improve water supply, sanitation and solid waste management in the cities, with a special emphasis on those that benefit the urban poor. There will also be support for reforms, and staff skills development to raise the efficiency of municipal services and to increase citizen participation in decision-making over municipal matters.
"This program not only brings improved urban services to the homes of the residents in the North Eastern Region capital cities, but is also a prime example of sustainable investment in infrastructure development in prioritized areas, which is a cornerstone of our strategy in India and part of ADB's long term Strategy 2020 to reduce poverty in the Asia-Pacific region," said Kunio Senga, Director General of ADB's South Asia Department.
Business Aviation
Boeing Subsidiary Opens New Customer Center in DAFZ
Boeing Subsidiary Aviall Services, Inc. announced that its new customer service center in Dubai Airport Free Zone officially opened on June 25, 2009.
Conveniently located in the Dubai Airport Free Zone, and approved by the General Civil Aviation Authority, Aviall's new facility in Dubai will initially serve the commercial airline industry along with military customers and business aviation in the Middle East and later in Northern Africa.
"We are delighted and proud to have Aviall Services Inc. on board adding value to the list of multinational companies operating in the Free Zone. Aviall is and shall remain one of our top clientele's in the aerospace industry, which represents a major portion of our investor's portfolio," said Nasser Al Madani, Assistant Director General, Dubai Airport Free Zone. "The Free Zone management shall provide full support and assistance to Aviall Services Inc to facilitate smooth operation and success in their business."
Patterned after the Aviall warehouse at its headquarters in Dallas, the Dubai addition will provide supply chain services including order processing, stocking and fulfillment systems. The new facility will provide local stocking to support sales, marketing and distribution for more than 230 manufacturers of original aviation parts and equipment. Aviall's value-added services have proven to be attractive to its customers and the leading manufacturers in the aviation industry.
"To do the best job for both the manufacturers and the aviation operators we serve, we want to be local and take full advantage of our world-class systems and infrastructure. We're expanding our operations around the world to better serve our customers," said Dan Komnenovich, President and COO of Aviall Services, Inc. "Aviall is moving ahead aggressively as an industry-leading provider of aerospace and defense aftermarket parts and related support services." Aviall is a wholly-owned subsidiary of Boeing Commercial Aviation Services, a unit of Boeing Commercial Airplanes, which is a unit of The Boeing Company.
Paul Kinscherff, President, Boeing Middle East, said, "With the start of Aviall operations, Boeing is expanding its supply chain services to the Middle East. We are pleased to be providing Aviall's superior offerings and convenience to customers while growing Boeing's local presence."
Pakistan Development
ADB Approves $500 Million Loan For Pakistan to Help Economic Recovery and Deepen Safety Nets for Poor
MANILA, PHILIPPINES (26 June 2009) – The Asian Development Bank’s (ADB’s) Board of Directors has approved two loans to Pakistan totaling $500 million that will assist the government with its macroeconomic stability efforts and fund a targeted safety net program for the poor.The loan, known as AETP2, is the second subprogram of the Accelerating Economic Transformation Program (AETP). The loans support short- and medium-term reform actions being taken by Pakistan's government in response to the global economic and financial crisis. The loans also carry forward measures enacted by the government in 2008 to cushion the impact of skyrocketing global fuel and food prices.
Under AETP2, a loan of $150 million from ADB's Special Fund will target the Benazir Income Support Program (BISP), a cash transfer program focusing on poor women. Under the scheme, the female head of qualified families receives 1,000 rupees per month to help defray the rising cost of food and other household expenses. Created in October 2008, the BISP social safety net program is expanding its current coverage of 3.5 million families to 5 million families next year and aims to reach 7 million families by 2011.
An additional $350 million in ADB loans will help Pakistan move to more market-based pricing of wheat and electricity, remove subsidy distortions and improve targeted social safety nets. It will also improve the bankability of the energy sector by resolving long-standing accumulated debt and attracting much needed investment. AETP2 will also help Pakistan strengthen financial intermediation.
"The AETP2 program will benefit millions of poor and vulnerable families through targeted cash allocations, and by removing inadequately targeted subsidies in the wheat and energy sectors, while freeing up much needed funds for development," said Rune Stroem, Country Director of ADB's Pakistan Resident Mission. "These targeted interventions will help enable Pakistan to meet its urgent social and developmental needs in FY2009."
Sri Lanka Lures International tourists with new summer packages
Sri Lankan Government has managed to partially supress the Tamil Militancy and this summer the Indian Ocean island is trying to become "a destination of choice" for those who want a stimulating vacation to recharge their batteries and energise their outlook. "With peace finally prevailing after almost three decades of strife, Sri Lanka is an ideal getaway for regional travellers being only three and a half hours flying time away from the Gulf," said Heba Al Ghais Al Mansoori, Middle East Director of Sri Lanka Tourism Promotion Bureau.
"It's not all necessarily adrenalin pumping stuff as for the more leisurely inclined explorer, there are pastimes that will allow you to experience the wonders of this tropical isle without so much as breaking into a sweat including hiking tours that take in the varied landscapes of the island and can be conducted at a gentle pace opening up the colourful and abundant array of plants, bird species and other wildlife to be found across the countryside," remarked Ms. Al Mansoori.
Cycling and mountain biking are another way to get about, with undemanding trips available for those who wish to visit the ancient ruins and temples of a country whose history and heritage stretches back thousands of years. Pedalling unhurriedly through the country lanes, you can hear the rustle of the forest come alive and enjoy the whiff and heady scent of flowers in bloom. For those who prefer a greater exercise challenge, the undulating roads of the hill country make for a more intense cycling workout, the Sri Lankan Tourism Promotion Bureau said in a statement.
"If heights are your thing, you can spend some time around the central highlands, home to Mount Pidurutalagala, Sri Lanka's tallest mountain. Here you can paraglide, flying over the forests and lakes like a bird, or indulge in rope sports, abseiling down sheer cliff faces close to magnificent waterfalls," the statement said.
Hot air ballooning is also an extremely popular activity in this part of the island and offers a unique way to explore the country as you silently float over the lakes and forests, you can spy deer and elephants who are oblivious to your presence, along with the occasional bemused farmer who has happened to glance upwards!
Water features as a significant part of Sri Lanka's inland landscape, with turbulent rivers, spectacular falls and calm lagoons for the intrepid enthusiast to enjoy. White water rafting is one of the longest established adventure sports on the island, with rivers providing thrills, glorious scenery and the chance to view life in the villages en route.
The most popular area for rafting is along the Kelani River in Kitulgala, close to where the classic film 'Bridge on the River Kwai' was shot. Canoeists and kayakers can also explore the various waterways, with professionals able to run some extremely challenging rivers that run through the forests.
Sri Lanka has some magnificent beaches, with one at Unawatuna being acclaimed as one of the world's top 10. Being a relatively small island, you will never be far from the azure waters and bronze sands of the coast and if lying down and absorbing the rays isn't for you, you can try your hand at surfing in waters that average a blissfully warm 27°c. Arugam Bay, on the east coast, has long been established as a surfing hotspot, with sufficiently high waves to attract international contests. When conditions are ideal, it is possible to catch a wave that will carry an experienced board rider 800 metres.
When the season finishes at Arugam Bay, it's just opening up at Hikkaduwa, on the west coast, about 100km from Colombo. The waves here are around 2 metres high and of sufficient interest to attract international surfers during the season. If your interests lie under the water, you can scuba dive and snorkel at a number of resorts, exploring coral reefs and old Dutch shipwrecks that are home to vividly coloured tropical fish and other aquatic life. If it's faster paced water sports that you want, you can hire out jet skis, learn to wind surf or try your hand at water skiing.
The capital Colombo offers all the attractions of a busy city, with star-rated hotels, shopping malls and a vast array of restaurants and clubs that cater for all tastes. A relaxing day can be had at the renowned Hakgala Botanical Gardens, with 27 acres overflowing with roses and ferns and at the Peradeniya Gardens in the city of Kandy, where you will also find the ancient Temple of the Tooth. If you are keen to discover the origins of your morning cuppa, the central highlands feature tea estates where you can learn how the world's most popular brew travels from luxuriant bush to your breakfast table. The island is only four hours flying time from the UAE and travelling there is easy with SriLankan Airlines. The operator flies to Colombo from Dubai ten times a week and runs a daily service from Abu Dhabi. The operator has been voted Central Asia's Airline of the Year for two consecutive years.
