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Awash in beauty has come to mean awash in toxins. Revealing the 500 odd chemicals women put on their bodies every day.

Debt, Doubts, & Dubai Yogi’s Heart, Sturdy Heart World’s Most Expensive Cars Common page 1

EDITORIAL www.seasonalmagazine.com

predicting the next crisis…

Vol 8 Issue 12 Dec 2009 - Jan 2010 Chief Editorial Advisor KM Roy Managing Editor Jaison D Editorial Advisor Leela Menon Editor John Antony Director (Technical): John Antony Director (Finance): Ceena Senior Editorial Coordinator Jacob Deva Senior Correspondent Bina Menon Creative Visualizer Bijohns Varghese Freelance Photographer Anish Aloysious Correspondents Bombay: Rashmi Prakash Hyderabad: Iqbal Siddiqui Delhi: Anurag Dixit Editorial & Business Office Seasonal Magazine 36/1924 E, Kaloor-Kadavanthra Road, Near IGNOU, Kaloor, Cochin-17.

Ph:0484 - 2345876, 2534377, 2340080 Mob. 09947141362, 09947258505 Bangalore: House No: 493, Block 3 3rd Main, HBR Layout, Bangalore - 42.

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UAE Distributor: Malik News Agency & Distributors Dubai All health related articles are for first information purposes only. Always consult your doctor before taking any decison affecting your health.

1997. Asian Financial Crisis.

What started from Thailand soon spread like a contagion to Indonesia, South Korea, Philippines, Hong Kong, Malaysia, and Singapore, rattling these economies for years.

2008. US Subprime Crisis.

What started off as an aftermath of the housing boom, got a shot in its arm with the collapse of Lehman Brothers, and most of the world is yet to recover from it.

2009. Dubai Crisis.

First the world reacted sharply. Then all of us arrived at the consensus that we overreacted. But in Dubai itself, nobody is sure anymore how the drama will unfold in the coming days. Still, the consensus is that it will be a Middle East problem at the most, and maybe affecting some parts of India like Kerala, maybe Philippines and Pakistan too.

Dubai wanted to build the tallest building, the largest airport, and the biggest shopping mall. For a while – a short while – it seemed as though the geographically tiny emirate would also stake its claim for the biggest national bust in recent years.

No way. US is not willing to share that credit with anyone any soon. Dubai’s debt is $60 billion, Lehman’s was $600 billion.

Dubai is too tiny a crisis. Or is it? Even if it is, is it masking any lessons?

One thing is common behind these three crises. Sorry, two things. Real estate and the dollar.

Thailand was doing a Dubai in real estate when disaster struck. And the economic epidemic spread to those Asian nations that were following a massive leveraged real estate development program.

And needless to mention that the 2008-09 world economic crisis had its roots in US realty.

And needless to mention that Dubai’s problem is a real estate problem more than anything else. The tiny emirate - if it restarts all the current real estate projects - will double the office space from what it is now, which is but sadly 40% unoccupied now. Dubai was that confident of real estate.

Now the dollar connection. Most of the affected Asian nations in the 1997 crisis as well as Dubai have their local currencies pegged to the US dollar. In other words, these currencies’ exchange rates can’t be directly influenced by the markets on a day-to-day basis like the Indian Rupee or the Dollar itself, but remains static at a conversion rate fixed by these Governments.

In fact, the pegging to the US dollar has brought down other economies too even without an associated realty boom, the best examples being the Mexican

economic crisis of the 1990s and the Argentine crisis that spanned from mid 90s to 2005.

But it is when both real estate boom and dollar pegging is simultaneously there that a real crisis of astronomical proportions can result. (As an aside, this is how Abu Dhabi still remains strong.) Dollar pegging makes the interest rates fixed by US Federal Reserve as the default interest rate of nations like Thailand and Dubai. For a while this is good, as the money supply or liquidity grows steadily.

For example in the case of Dubai, money supply grew at an annual rate of 30% between 2005 to 2008. But this has the inevitable result of fuelling inflation and negative interest rates, subsequently.

Now, if at the same time a nation decides to develop its real estate exponentially, it is a no-brainer that people will have all incentive to invest in real estate and forego bank deposits. Who can resist a market that is going up unbelievably? Many Dubai real estate prices had nearly doubled between 2005 and 2008.

Now the only relevant question is whether there are any other markets where both these conditions exist. Eerily, there is one – China.

Though the country’s currency is only partially pegged to the US Dollar since 2005, by all practical measures it still remains deeply connected. The Chinese had unofficially strengthened this pegging post Lehman as a last ditch effort to save its economy from collapse as it battles a real estate splurge that would shame even Dubai on the demand-supply mismatch.

If China fails, it has the potential to take the world with it. And for India, it poses the additional burden of a military provocation.

Of course, even without a Chinese failure, and even without rupee being pegged to the dollar, India needs to tread cautiously as it ‘suffers’ from excess liquidity driven by foreign investments that has overheated the capital markets already much ahead of the real economy warming up.

And not at all comforting is a third attribute that Dubai and China share – nondemocratic decision making. The Asian economies and the US were capable of a comeback largely on their administrations’ democratic accountability. Without it in place…

Better not think about it.

John Antony

MAGAZINE

SEASONAL ENTERTAINMENT Suniel Shetty on H2O, Akshay, & Paresh Bebo is Like Saif’s mother!

5 Highest Paid Actresses of Bollywood Deepika Too is Bachchan Crazy EDUCATION Aussie school tries to liberate teen brains MBA or CA? Homework Gets Thrown Out Australian Education, Version 2.0 CRICKET After a Win, Party.

After a Loss, Party Harder!

Eyeing Physical Education?

Aim for Border-Gavaskar Scholarship Will Sachin & Dhoni Be Around for World Cup?

CONTENTS

BANGALORE DUBAI KERALA CHENNAI HYDERABAD MUMBAI

Beauty Skin Deep, Bother Life Long Awash in beauty has come to mean awash in toxins.

Revealing the 500 odd chemicals women put on their bodies every day.

Can Sports-Watching Infants Turn Sportsmen?

20 Tips to Eat Better, Get Better Pregnancy and Sleep Why we yawn: To cool our brains Newborn Babies Cry in Native Tongue

FAMILY Blast Off Your Marriage..Again!

10 SURE-FIRE TRICKS INTERNET Your Twitter Popularity, Just 10 Steps Away Mock Me, But No Impersonation Please AUTO Toyota to unveil concept compact car in India next month Toyota Prius, VW Polo and Beetle join long list of cars headed to India Designer Tata Nano From Dilip Chhabria World’s Most Expensive Cars HEALTH Cancer Calling, With Per Second Billing Yoga improves heart health,

FINANCE IndusInd Bank Better Positioned Now Oriental Values, Western Efficiencies Growth Powered by Innovation & Trust Karur Vysys Bank The Model for Small Banks 1985-2010: 25 YEARS The Kotak Quarter UNITED BANK OF INDIA’S IPO Last Chance to Buy a PSB at Less Than Book Value CATCH-22 IN LIFE INSURANCE: Who Will Perish, Who Will Survive?

RECIPE Perfect Samosa TRAVEL Must-visit shopping hubs GADGETS Kindle to Take Print Media By Storm?

STRANGE NEWS My year of living without money MIDDLE EAST Dubai: Just Deserts?

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Ships, Hotel & Catering Services as well as Duty Free & Cruise Value Shops operations. Its strategic alliances with the leading Tour Operators have significantly strengthened the position of Louis Cruise Lines, as a leading player in European

Genoa and Marseilles to the West Mediterranean, North Africa as well as to the Eastern Mediterranean. From the port of Piraeus, Louis Hellenic Cruises sails to the Aegean islands and the East Mediterranean. Louis Hellenic cruises was founded in 2004 and led to the revival of the Greek Cruising Industry.

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All ships are refurbished and upgraded continuously to maintain the highest standards of quality and service. The management of both the technical and the hotel operations of the ships are carried out-in house as the knowledge and expertise of the company covers all facets of cruise ship management.

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(To book cruises, contact: 99471-41362, 0484-2534377, 2340080, 2345876, seasonalcruises@gmail.com)

Education SEASONAL MAGAZINE

MBA or CA?

For the first time in many years, CAT applications are down, even while CA is becoming hot again. What is eating MBA aspirants? Is it a case of higher fees, lower entry level salaries, too much exposure, the new online examination scheme, or just a case of poor sentiment due to the downturn? Will MBA lose its lustre for forever or will it make a strong comeback?

Common page 2

After a steady increase for years in the number of MBA aspirants applying for the Common Admission Test or CAT, 2009 has seen a drop for the first time in years.

Last year over 2,46,000 students had applied for the test. This year the number has fallen to 241,000.

Even though it might seem like a miniscule drop less than four per cent or 5,000 applications -Neelesh Kossambi, national media manager at IMS Learning, wonders if it might be reason enough to start worrying. And if, after all these years, is an MBA or Masters of Business Administration finally beginning to lose its lustre in India?

One of the reasons that Kossambi points to is the CAT going online. And with other related entrance tests (like XAT, CET etc) also going online, Kossambi feels the number could well be significant.

ARKS Srinivas, director of TIME, seems to echo Kossambi's point of view. He tells us that over 20 per cent of his Mumbai students do not have an email address. "Young India is not as tech savvy as we might want to believe. And if this is the number in Mumbai can you imagine what happens to smaller towns?" Srinivas asks.

Khurshroo Antia, a chartered accountant preparing for CAT, told us that the web version of the test entails that all calculations be done mentally, a major hitch for most students. "Earlier you had the privilege of using the pen and paper. That is not the case this year. Copying out the problem on a paper is not an option either because it will cost you time and effectively your percentile," Antia says.

Kossambi also attributes the drop to the media reports. He points out that the IIMs have been under the constant glare of the media. "Reports of hefty pay packages of IIM grads have given way to how their salary levels have dropped in recent times. This has definitely affected aspiring MBA students," he says.

Srinivas however has another take on the matter.

He dismisses it as herd mentality and says: "In India we work on sentiment. And since the sentiment is down so is the number of MBA aspirants."

Further the hike in the fees is an issue that is troubling, says Kossambi. He says that the IIMs and ISB have hiked their fees so much that students are put off.

But is it reason enough to start worrying?

Apparently not.

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Aspirants like Antia are quite cheerful because they will have less competition this year. And recruiters are scoffing at the very idea that it might affect recruitment in the coming years.

The drop in applications will not affect the number of graduates since the seats are limited and will get filled any way, one recruiter points out.

Vinay Bhave of R-Search, a recruiting firm, also says that infrastructure projects hold the key. He says that while this sector was the worst hit it will also be one of the first to take off.

Engineers, he insists, will be back in business: "You cannot keep infrastructure projects on hold for long.

And once they get off the ground you will require engineers."

Bhave describes the current market situation as being 'cautiously optimistic' a phrase that is becoming as popular as 'Wall Street crash'.

He says that he's already started receiving calls for recruiting at the CEO level and insists that this is just the beginning. Bhave also foresees the need for people specialising in finance.

Srinivas agrees with Bhave, though only in part. He suggests that CA trend is 'merely cyclical'. "It was hot from the mid-80s to the 90s and then around 2003 after which it saw a slump. Now it's back," he says almost dismissively.

Career counsellor Pratibha Jain offers a far more balanced perspective. She agrees that CA might be the in-demand course but says that MBA will continue to hold its sway in the long run.

Jain insists that the degree is nowhere close to losing its lustre and lauds student professionals who stick to their job and get work experience to the classrooms. This according to her helps them 'make an informed choice of what they wish to specialise in'.

The trend according to Jain is that of 'matching aptitude with goals and not vice versa'. So a lot of professionals keen on rising up the ladder seek to get an MBA degree on their resume.

"It is your only option," Jain says, "Unless you are looking at finance (where you can study Chartered Accountancy), MBA continues to remain the sole specialisation post-grad programme. There is nothing equivalent that will leverage your career prospects."

This also means that, IIMs not withstanding, a whole lot of professionals will opt for a good second tier business school, which will give them a better edge.

As Jain says, "MBA is still the golden bird." And everyone wants a shot at it.

SEASONAL MAGAZINE

W

ith drop in CAT applications, is MBA losing its lustre?

Education

Aussie school tries to liberate

SEASONAL MAGAZINE

teen brains

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There are no textbooks at the Australian Science and Mathematics School.

No classrooms, no bells, no uniforms – unlike the other public high schools in South Australia – or even a dress code.

In fact, when I ask Kira Evans, 18, who was in Grade 12 there last year, to list the school's rules, she stops short.

Finally, after several minutes of deep thought, she lights up. "I know! We have to wear enclosed shoes in science labs because we're part of Flinders University and it's their health and safety regulation!"

This highly unusual school for Grades 10 to 12 was built six years ago to plug into what neuroscience says the adolescent brain needs in order to learn. It's what teaching teenagers could look like if the teens' biology were taken seriously.

"What we've done is capture the power of adolescent social interaction and transferred it into the classroom," says Jim Davies, the school's principal.

The building itself has soaring ceilings and vast open spaces filled with light from storeys-high windows facing both east and west. The openness constantly morphs into sites for gatherings large or small, a nod to the teens' delight in flexibility and making decisions. Over there are café tables and lounges and over here, comfy red chairs and walls painted rich crimson.

Each student has a metre-high glossy orange storage locker on wheels but no permanent desk. Some students have banded their lockers together to make long orange surfaces. All of this encourages interaction among students and teachers.

Why does that appeal to the biology of the teen brain?

Teens are undergoing a major cerebral reorganization, akin to the scope of the changes happening in the first six years.

Except in teens – as shown by realtime functional magnetic resonance images – the changes are centred in the powerful frontal cortex of the brain.

The cortex is the outer layer of the brain, the last to have developed when humans evolved and is therefore the most sophisticated and quintessentially

Common page 5

human part of the brain. Its front part is where the highest-level thinking and analysis take place.

During the teen years (and even into the 30s), this part of the brain is laying down white matter in the form of myelin. Myelin is a fatty sheath that insulates nerve fibres so they can communicate more quickly. The more myelin, the more efficiently the brain cells work.

As well, teens' brains lose synapses, or connections, among nerve cells. This is the process known as "pruning" and is critical to making the brain's functions swift and powerful.

These biological changes have a transforming effect on what the teen brain can do and what it must do.

And what the teen is doing affects how well and how quickly the brain makes these changes. It's a two-way system that can reinforce itself or tear itself down.

The teen brain develops the ability to think in abstract terms and figure out how systems work. The brain develops the ability to set complex goals and follow them. Teens must learn both broadly and deeply. The biological urge to master a topic they care about is intense.

As well, the very structure of their growing brains demands that they launch themselves on a passionate quest for meaning and identity – in their own lives, in their social setting and in the world at large. Social interaction is key. (Think of the teen interest in instant messaging, Facebook and other ways of staying in touch.)

Teens are on the road to becoming fully human.

To many educators and neuroscientists, the traditional high school represents a tragic waste of the powerful adolescent brain.

The traditional school struggles to box in the vast adolescent energy and bend it to function on adult terms for adult goals. In traditional high schools, kids are getting factory schooling and their big brains are being treated as storage reservoirs rather than dizzyingly creative machines.

It's the opposite of what the teen brain is geared for.

As a result, high school is where many students who have made it through the earlier years simply disengage. Others feel as if they suspend their real lives to trudge dutifully to school to learn material for reasons they can't discern. And for still others, high school is about the marks, not the knowledge.

Zachary Stein, 28, a PhD candidate in human education and development at Harvard University's graduate school of education, says high school education is facing a crisis of "legitimization."

As a society, we're forcing millions of teens to spend hours every day in a schooling system with methods

SEASONAL MAGAZINE

U

nusual Australian school demonstrates what teaching teenagers could look like if their biology were taken seriously.

we can't justify and ends we don't honestly comprehend for jobs we can't even conceive of, he says.

And as others have documented, given the high rates of teen dropouts, addiction, violence, mental health issues and learning differences, the system we're forcing them to participate in is broken.

"It's a human tragedy," says Stein. "We're keeping a whole period of development out of touch and off the map."

Kira Evans knows exactly what he means. Students at the public high school she went to before she entered the Science and Math School in Adelaide in Grade 10 didn't really want to learn. They had little respect for the teachers, didn't do the work and were apt to throw glue sticks at the white board when the teachers were talking.

Police would visit. Sometimes she was afraid to go to school.

Evans, her long blond hair tied back in a ponytail, is in her first year of mining engineering and petroleum engineering at the University of Adelaide. She isn't sure what would have happened to her if she had stayed at her old school.

"I wouldn't even have gotten into university, certainly not engineering," she says, noting the "scary" fact that one of her friends has since become pregnant and has dropped out of school. "I'm not sure I would have been able to survive to year 12."

So, what is it like to be at the Science and Math School?

Grades 10 and 11 are taught together according to the students' stage of learning rather than age. The general model is for perhaps 90 kids to go off with four or five teachers to talk about the big questions of the day and then split up into small, self-directed groups to conduct their own inquiry.

The curriculum is interdisciplinary, broken up into three 100-minute modules a day, with 40 minutes a day with a teacher/mentor who coaches the same dozen or so students across all three years, often discussing how the individual students learn.

SEASONAL MAGAZINE

So students are not being delivered a physics class followed by an algebra class followed by chemistry.

Instead, they are exploring what Davies calls the "rich fertile question," which sometimes has no obvious answer at all.

The conceptual model, if not the rigour, is in line with MySpace and YouTube: using freeware to share in a nonjudgmental way.

An example: Is the universe a finely tuned machine or an engine of chaos? Or what to make of then-U.S. president George W. Bush's decision to ban federal funding for research on stem cells, an issue that could span English,

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biotechnology, legal studies and political science.

In math, it might take the form of the teacher saying: "Here's a body of math we want you to research. Here's some research and guiding questions. Off you go."

Once they've come back to explain what they know in seminars and classroom chats, they apply the new knowledge to solve real problems.

It can be jarring for students at first, says Davies, chuckling.

"The kid's had nine years of very traditional teaching and learning, as in: Do the even-numbered questions on this sheet."

The watchwords for students here are "voice and choice," Davies says. There's been no physical violence at the school in its six years. Instead, the school is an ardent community of learning where kids and teachers are proudly working together to figure things out.

He remembers the day someone spilled a container of chocolate milk on a desk and left it there. Students massed around the desk peering at the mess. Why hadn't the person cleaned it up, they asked in utter confusion.

"These kids are redefining learning," Davies says.

Could this happen elsewhere? Davies says part of the success is that students select the school based on their interest in science and math and they have to accept the final invitation to enrol and take responsibility for what they're expected to do.

In a few cases, Davies says, students have not done well.

Staff speak with them about what they need and where else they can get it. As Davies says, it's an important breakthrough to figure out a system that's not working for them and find one that does.

One poignant point for Canadians is that the Science and Math School was brought to life partly by Steve Marshall, who was a top bureaucrat in South Australia's education ministry during its gestation and is a huge supporter. Ontario Premier Dalton McGuinty handpicked him to help reform education here and he started the job last year only to fall ill with cancer and resign this year before his ideas really got any traction.

The possibilities, however, are tantalizing.

Zachary Stein's advice to other schools is to give the students things to do that would have a concrete payoff in the real world. Teens need relevance because their brains are geared to understanding systems.

So, in geometry, ask them to figure out how to build a well for clean water in Africa.

Davies recommends a brain shift among grownups: showing faith in the teens' powerful, growing neural networks and in their biological imperative to move their world forward.

"If we move from that, then all sorts of magic can happen."

working a second shift."

Parents win legal battle against homework.

Teachers agree. Kids smile.

Shelli and Tom Milley's children are now exempt from completing school assignments outside the classroom Usually it is the children, not the parents, who are loath to spend their evenings practising spelling and learning times tables. But a Canadian couple have just won a legal battle to exempt their offspring from homework after successfully arguing there is no clear evidence it improves academic performance.

"Why were we putting our family through that stress?" she wondered. "If we don't want it all, we shouldn't have to have it."

Two years ago, Shelli began collecting studies on homework, most of which suggest that, particularly for younger grades, there is no clear link between work at home and school performance. Working with the staff at St Brigid Elementary Junior High School, she formed a homework committee. When no firm changes resulted from the committee, the couple began negotiating the legal document that decided the matter.

"We think it's a parent's right to choose what's in our children's best interests," said Shelli. "But we're thankful the school did the right thing."

Shelli and Tom Milley, two lawyers from Calgary, Alberta, launched their highly unusual case after years of struggling to make their three reluctant children do school work out of the classroom.

After waging a long war with their eldest son, Jay, now 18, over his homework, they decided to do things differently with their youngest two, Spencer, 11, and Brittany, 10. And being lawyers, they decided to make it official.

It took two years to negotiate the Milleys' Differentiated Homework Plan, which ensures their youngest two children will never have to do homework again at their current school. The twopage plan, signed by the children, parents and teachers, stipulates that "homework will not be used as a form of evaluation for the children". In return, the pupils promise to get their work done in class, to come to school prepared, and to revise for tests. They must also read daily and practise their musical instruments at home.

"It was a constant homework battle every night," Shelli told Canada's Globe and Mail newspaper.

"It's hard to get a weeping child to take in math problems. They are tired. They shouldn't be

Common page 7

SEASONAL MAGAZINE

Education

Homework Gets Thrown Out

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Kevin Rudd , Prime Minister

What the Indian student protests couldn’t achieve, has now come into being, thanks to several international education providers closing down due to the turmoil. Australia obviously can’t afford to let its third largest foreign exchange earning industry fail. Over 5,00,000 students – mainly Chinese & Indian – stand to gain. But their financial commitment will go up by a third.

T

he Australian government has initiated efforts to tackle the crisis in its education sector caused by the closure of international education providers.

Senator Chris Evans, Minister for Immigration and Citizenship said that as part of the government decision to assist the overseas students, those who need fresh visa for resuming their studies at another institution will be exempted from remitting the student visa application charge which approximately comes to Rs.22,500. This move is sure to be welcomed by the Indian student community in Australia, which is next only to the Chinese in terms of size. It is estimated that more than four thousand students were adversely affected by the closing down of twelve education providers this year.

Evans said that this move would be helpful to those students who wish to get enrolled in a new course even after the expiration of their present visa period. The government has declared that student’s welfare is its primary concern and has thereby decided to stand by them when the education provider refuses to offer the course any further.

The minister added that the government has introduced fee exemption since it does not want to place additional financial strain on the students. The Department of Immigration and Citizenship will refund the visa application fee to those students who have been affected

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Chris Evans, Minister for Immigration and Citizenship

by the closure of the education providers in 2009.

The government will also take adequate steps to ensure that the students do not have to strive hard to meet their living costs while in Australia. The government plans to increase the minimum amount set for meeting living costs while at Australia to A$18,000 (approx Rs.7,48,000). Presently, the students have to demonstrate that they have access to a minimum of A$12,000 (approx Rs.498, 000).

Though the foreign students in Australia are allowed to increase their earning by taking up part-time work, the government understands that their primary purpose of coming to the country is education.

Australia's education industry, which houses about 500,000 international students, is its third-largest foreign currency earner. Indian student community, the bulk of which has enrolled in vocational courses offered both by the private and government Technical and Further Education institutes, alone is estimated to contribute $3.5 billion a year to the Australian economy.

SEASONAL MAGAZINE

Education

Australian Education, Version 2.0

Entertainment

Suniel Shetty on H2O, Akshay, & Paresh A

kshay Kumar is a nightmare due to his pranks, says co-star.

Suniel Shetty has had enough problems with his ambitious venture, the water theme park H2O at Marine Drive. It ran into trouble with government authorities a few times, even prompting him to think of shutting it down. However, now Suniel has a change of mind and is ready to expand H2O. Suniel Shetty tells DNA about the pranks Akshay Kumar plays on the sets and the big plans he has for his business venture.

He said, "Every day fresh issues used to creep up. I had given up hope completely and even mulled over closing H2O. But then I realised that I provide employment to around 300-400 fishermen, who are certified life-savers. My team saved 37 lives last year and it promotes tourism in a big way."

Recently, Suniel successfully hosted the international Jet Ski race at the venue. He added, "I'm looking to

host another international championship of Jet Ski race in January and post that I'm looking to open up another branch of H2O in Juhu. I am applying for the required permissions. It is a venture very close to my heart and I don't want to give it up just because I am having problems. I'll deal with them."

Moving on to his movie career, Suniel has teamed up with his Hera Pheri gang of Akshay Kumar, Paresh Rawal and director Priyadarshan after nine years for a forthcoming film. We asked him to reveal one trait of Akshay and Paresh that he adores and one that drives him up the wall.

"I love Akshay's energy. But he irritates me a lot too.

He is a nightmare on the sets. I am an actor who takes time to get my lines and the grammar right. Finally, when I get it right, Akshay does some nautanki and makes me forget them. Also, he steals other's mobiles and messages random people from those cell phones.

So, now we keep all our belongings to ourselves," he said.

SEASONAL MAGAZINE

About Paresh, Suniel said, "I don't have words to describe how good an actor he is. He is brilliant. He's not the kind who would visit a slum before doing a slum-dweller's role. He'll do it effortlessly. I'm very jealous about the fact that when you see him act, you forget your cue because he is so good at his job."

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Bebo is Like Saif’s mother!

‘Kareena is intensely passionate about her work and films. We both like working together, but we have to choose our roles carefully, as people don’t find offscreen couples interesting on screen,’ he says matterof-factly.

He adds, ‘She is an intense actress, who is very focused and interested in her work. She is also sensitive and fun to work with.’

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Saif is proud about his lady’s selection of movies. ‘I think Kareena was brilliant in Jab We Met; she looked stunning in Kambakkht Ishq, which was a fun, masala film. I saw a rough print of Main aurr Mrs. Khanna, which I found sweet. I am no authority on films, but I think Bebo does all kinds of roles to cater to all

kinds of audiences. Now, she has equally different films like Kurbaan, 3 Idiots, the remake of Stepmom and Agent Vinod. So, she is always expanding her capabilities as an actress,’ he says proudly.

Saif and Kareena are madly in love with each other.

So, how does that help them on the sets? ‘I love working with Kareena and watching her on the sets.

We know we are creating special moments in movies.

We both are concerned about each other’s moods, as we are deeply involved with each other. On the other side, we do want space from each other. I think working with Kareena is like working with my mother. We know everything about each other, and I cannot even impress her. She sees right through me.’

Entertainment

5

Highest Paid Actresses of Bollywood

Entertainment is an industry which is spreading day by day. Bollywood is one those entertainment industries which is getting a wide market for business world wide. As well as Bollywood is making a perfect business in world's market, the stars of bollywood are also getting paid in millions and crors.

Here is the list of top 5 heroins/babes/actresses of Indian film industry BOLLYWOOD.

Priyanka Chopra

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Dostana and Fashion happened. And then life changed for her. She has gathered quite a lot of fan following, and is very popular. She has hiked her price to about 5 crores after her successful films.

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Aishwarya Rai Though not on the scene for quite a long time, this green eyed actress demands quite a high price. The Bachchan bahurani did burn her hands in Hollywood, with films like Mistress of Spice to her credit, but she has hiked her fees to about 6 crores. If she manages to do a Jodhaa Akbar, then it should be fine.

Otherwise 6 crores for an Umraao Jaan or The Last Legion does seem a bit extravagant.

Kareena Kapoor She won over our hearts with Jab We Met and shocked us with Tashan, but this bundle of talent is surely a force to be reckoned. Though many hits to her name, she charges a modest amount of 3.5 to 4 crores.

Katrina Kaif This beautiful lady has back to back hit to her name. So what if she isn’t exactly known for her acting and can’t speak Hindi properly? She takes in about 3 crores a movie. She is famous for her charming looks.

This dusky beauty has certainly cemented her position as an A-list actress.

With several hits to her name in different genres, she is quite a popular choice for producers. Bipasha charges about 2 crores.

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Bipasha Basu

Health

Newborn Babies Cry in Native Tongue French newborns tend to cry with rising melody patterns, slowly increasing in pitch from the beginning to the end, whereas German newborns seem to prefer falling melody patterns, findings that are both consistent with differences between the languages.

This suggests infants begin picking up elements of language in the womb, long before their first babble or coo.

Prenatal exposure Prenatal exposure to language was known to influence newborns. For instance, past research showed they preferred their mother's voice over those of others.

Still, researchers thought infants did not imitate sounds until much later on. Although three-monthold babies can match vowel sounds that adults make, this skill depends on vocal control just not physically possible much earlier.

However, when scientists recorded and analyzed the

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cries of 60 healthy newborns when they were three to five days old — 30 born into French-speaking families, 30 into German-speaking ones — their analysis revealed clear differences in the melodies of their cries based on their native tongue.

Imitating Mom The way babies imitate melody patterns relies just on a command over their voiceboxes they had before birth, instead of the more advanced control of their vocal tracts they need for vowel sounds.

As such, they can begin mimicking their mothers "at that early age," said researcher Kathleen Wermke, a medical anthropologist at the University of WĂźrzburg in Germany.

"Newborns are probably highly motivated to imitate their mother's behavior in order to attract her and hence to foster bonding," Wermke said.

The researchers conjecture that the development of spoken language is rooted in melody, and that these findings support their idea. "Music and language might have co-evolved for a certain time during evolution and share a primordial form of communication system," Wermke told LiveScience.

The scientists detailed their findings online November 5 in the journal Current Biology.

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F

rom their very first days, the cries of newborns already bear the mark of the language their parents speak, scientists now find.

Entertainment

Deepika Too is Bachchan Crazy She has had her chances with every big star out there including Shahrukh and Bachchan Jr. But her dream continues to be a film with Bachchan Sr. Deepika Padukone in a freewheeling interview reveals her secrets – beauty, fitness, co-stars, sports, endorsements, and, of course, controversies:

W

On a high after the current success of her film, ‘Love Aaj Kal’, the exuberant beauty spoke to Tanu Talwar of Spicezee.com about her love, life and career at the Box Office.

Tanu: Did you see ‘Wake up Sid’? How did you find Ranbir and Konkana’s chemistry?

Deepika: I saw the film when the premiere was held for the entire cast and crew. I feel Ayan is an extremely talented director. I really liked the film and I feel that Ranbir has done an amazing job. I loved the way both Konkona and Ranbir did justice to their characters in the movie.

Tanu: ‘Love Aaj Kal’ did great business at the Box Office.

Which is the next big flick that you are kicked about?

Deepika: I have a couple of films lined up. There is ‘Karthik calling Karthik’ releasing at the end of this year and then there is ‘Houseful’ by Sajid Khan that will release next year.

Tanu: Tell us about ‘Karthik Calling Karthik’?

Deepika: It’s a romantic comedy. It’s directed by Pradeeep Sarkar and has Farhan in the lead.

Tanu: Is it true that you are doing a Yash Raj flick opposite Neil Nitin Mukesh?

Deepika: Yes that’s right. It’s based and set around Bombay and is scheduled to start early next year.

Tanu: Who’s your dream co-star?

Deepika: They are all nice in their own right. But the one actor I have always wanted to work with is Mr Bachchan.

Tanu: It’s widely stated that Akshay got you sacked from Priyadarshan’s ‘De Dana Dan’ to make place for Katrina Kaif?

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ith a smash-hit opposite King Khan, Deepika Padukone has had no dull phase in her two-year career. Already one of the leading divas of Bollywood, the sizzler has a series of blockbusters marking her successful run at the Box Office.

Considered one of the most promising stars in Tinsel Town, the intelligent-eyed beauty is currently reigning supreme and is in no mood to contain her happiness.

Deepika:It’s absolutely not true. Such reports are really hurtful and ridiculous. I had a blast with Akshay while shooting for ‘Houseful’. Why would he do something like this? Plus, casting is a very important element of filmmaking. A lot of thought goes into finding the right actors for the characters. I don’t think that anybody can influence such decisions.

Tanu: These days a lot of celebrity couples are jointly endorsing brands.

Abhishek and Aishwarya were reportedly offered a whopping Rs 25 crore ad deal.

When will we see you and Ranbir jointly doing an ad?

Deepika:Till now nothing of this sort has come up. But in future if some good brand comes along with an exciting plan and we are ready for it then we will go for it.

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Tanu: A lot of your co-stars have been much older than you. Aren’t you more comfortable working with your own age?

Deepika: I don’t feel that age has anything to do with comfort level. I think that actors should suit the characters and compliment each other on-screen. You get comfortable with actors only after some time.

Tanu: What’s your fitness mantra?

Deepika: Well, I really work out hard and

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I do yoga. Besides yoga, I am also into sports. I think playing sports is the best way to stay in shape.

Tanu: Besides badminton what other sports do you play?

Deepika:Well, I have played badminton at national level. I love playing basketball and throw ball. I try to promote sports as much as possible.

Tanu: What’s your beauty secret?

Deepika:I eat healthy and correctly. I don’t binge and have everything in moderation.

Tanu: What do you think is your best asset?

Deepika: I think it’s my smile.

Tanu: It’s been reported that your sister is also joining films.

Deepika: No, not at all. She is very passionate about sports and is looking at making a serious career in professional golf. She won’t be joining films.

Tanu: From your own experience so far, what are the best and worst aspects of showbiz?

Deepika: Well, the best part is the acknowledgement, love and respect that you receive from your fans and the worst is the invasion of one’s privacy. People are constantly scrutinizing your personal life.

CRICKET

Will Sachin

Dhoni Be

&

Around for World Cup? Fifteen months from now, the World Cup happens. Will Sachin and Dhoni be around then? Dhoni feels Sachin will be there, but he is not sure of his own captaincy. And nobody knows whether the fixtures will play spoilsport this time too.

MS Dhoni has one conviction and one doubt about the World Cup. The conviction is about Sachin Tendulkar and the doubt is about himself. He revealed the two things occupying his mind at the 2011 World Cup draw ceremony here on Monday night.

Dhoni felt Tendulkar will not only play the next World Cup but also the one next to it. click here "The way he is batting," Dhoni remarked, "Sachin will not only play in 2011 but also in 2015. He has the fitness and hunger."

And his doubt?

"I don't know if I will be the captain for the 2011 World Cup," he confessed while answering a query on India's chances at the quadrennial showpiece event.

"As co-hosts we have a good chance and with some very good youngsters.

We will have to wipe out the disappointment of 2007 but whether I will be leading the side...I don't know," Dhoni commented. Dhoni, however, had encouraging words from Ravi Shastri, the MC for the draw ceremony. The former India captain said his money for India captaincy in 15 months time from now will be on Dhoni himself.

Keeping the lessons of 2007 -- when teams like India and Pakistan got knocked out for one bad game - the organisers have prepared a draw that can protects interests of the big teams but India still are handed a tricky opener. Just like in 2007, India's first match will be against Bangladesh.

In the last edition, India were upset by Bangladesh and the result brought about their premature elimination from the tournament. This time, the IndiaBangladesh game will be the tournament opener on February 17, 2011, and, what is more, it will be held in Dhaka.

India hosting 29 matches, including the final at the Wankhede Stadium in the city, will have its matches in Kolkata, New Delhi, Ahmedabad, Mohali, Bangalore, Chennai and Nagpur.

The length of the tournament will be shorter by a week than the previous edition and the tournament director Prof Ratnakar Shetty said he saw no reason to believe that the 2011 edition will be the last World Cup in the 50-over format.

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The 43-day tournament, co-hosted by India, Sri Lanka and Bangladesh, will have some new venues in Sri Lanka which has prepared Hambantota, Pallekele besides Colombo for the event.

Dhoni and pals have taken a beating after television channel News X show them partying after a recent loss in Hyderabad The loss put India 2-3 behind in the series before Dhoni's Indians succumbed meekly in Guwahati on Sunday to lose the home series. The seventh and final match is scheduled to be played in Navi Mumbai today.

The channel reported yesterday that the party was held within hours of the thrilling match which witnessed an epic innings of 175 from Sachin Tendulkar, whose effort went in vain due to to some careless bowling, fielding and batting by his teammates.

On a special show aired last night, channel guest Bishan Singh Bedi, the former India captain said that it was not unusual for players to let their hair down in a party.

"Nothing wrong with it. After all, they are all adults," he said. But when the show host asked whether it was the right thing to do in the midst of an important series, Bedi remarked, "Now that is a big question mark."

Bedi wondered whether this was the reason why players were against the World Anti Doping Agency's

Team India and BCCI were dead against World Anti Doping Agency’s whereabouts clause that required to note down what they do after a game.

Now we know why. After a win, they party. After a loss, they party harder, with wine, women, and what not. whereabouts clause in the International Cricket Council's anti-doping procedure. He also seemed amazed as to how the Board was behind its players who refused to give out their whereabouts after play.

Virender Sehwag, Harbhajan Singh, Ashish Nehra and rookie Ravindra Jadeja feature in the photographs.

Journalist Gulu Ezekiel, the second guest on the show, refused to slam the players for their decision to party, but was amazed how fresh they could get after an energy-sapping match. The channel identified fast bowler Pravin Kumar as a smoker at the party.

A few former players whom MiD DAY contacted said they had not seen the shots, so were in no position to comment. However, former captain Chandu Borde, who managed Indian teams in the past, the latest instance being the 2007 tour of England, felt that it was time the Board appoints a permanent manager who would ensure discipline.

At the moment, the manager's post for every tour is distributed as rewards for votes in BCCI elections. No manager is appointed for a home series.

Cricket fans in Mumbai were not impressed too. Sandip Mehta, a businessman said: "Play hard, party hard but do that only after a victory. If you lose, go out for a quiet meal or better still, stay in your room and indulge in some introspection."

Ramji Dharod, a former Mumbai club cricketer, said that the most shocking aspect of the photographs shown on television was the sight of Dhoni. "If what we saw on television is true (that the cricketers attended a party after the Hyderabad defeat) then it is very sad. As captain, these public appearances don't do his image good. It doesn't send out the right kind of signals especially to your juniors," he said.

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After a Win, Party.

After a Loss, Party Harder!

ndian students interested in pursuing a sportsrelated career can now follow their dream as exercise science too has been made part of the Indian academic curriculum with the first Bachelor of Exercise Science course being launched on Tuesday.

Introduced as a collaborative venture by the Australiabased Griffith University and the Padmashree Dr DY Patil University at Navi Mumba, it has also been decided to award Border–Gavaskar Scholarship to the Indian student who completes his post graduation by the coursework programme at the Australian university.

The award will be given away during the BorderGavaskar cricket tournament. All set to be implemented from next July, the scholarship will cover the student’s university fees, travel expenses and living costs while at Australia.

The South Asian Regional Director of Griffith University, Rahul Mankad said that both the great cricketers who served their countries through their sporting excellence wanted the award to be based on academic brilliance.

The first phase of the three and a half year long course programme comprises of 18 months of academic studies along with six months internship. The students who complete this phase at the D Y Patil University campus will become diploma holders in Exercise Science.

The second phase that lasts for two years would be taught at the Gold Coast Campus of Griffith University. This will earn the student Bachelor's degree in Exercise Science.

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CRICKET

Eyeing Physical Education?

Aim for BorderGavaskar Scholarship

A new degree has been launched in the realm of physical education. An Indian and Australian University have jointly created a twinning program leading to Bachelor of Exercise Science, that is also blessed by a scholarship by Allen Border and Sunil Gavaskar.

FAMILY SEASONAL MAGAZINE

Blast Off Your Marriage..Again!

10 SURE-FIRE TRICKS

It is said familiarity breeds contempt! After you have spent years with one person, fatigue and boredom may set in and according to psychologists, it is not unnatural for these emotions to germinate in marriage or long relationships.

Besides, with marriage also comes many responsibilities and with it stress and pressure.

Urban life demands that you dedicate significant time to your work, and time spent with your partner and family takes a backseat. So if you are wondering how to keep romance alive in your relationship or marriage, tips offered in a new book may come handy and keep your relationship flourishing.

The book called Sizzling Sex written by Dr Pam Spurr, offers valuable tips on keeping the spark alive in your relationship, reports the Daily Express.

thinking of him/her during the day.

3. MAKE EYE CONTACT Face your partner when he/she is speaking to you. Eye contact makes you feel connected and done the naughty, romantic way may increase the spark in your relationship in the bedroom as well.

4. AGREE TO DISAGREE Try and avoid arguments with your partner. Next time you disagree, shock him/her in the nicest possible way by saying, 'You're right.' A sure shot way to put an end to conflicts in relationships.

5. EMBRACE CHANGE Surprise your partner by getting a new look. A quick and easy way to do this could be to dye your hair, restyle it or get a wig for fun.

6. DO SOMETHING UNEXPECTED Offer to do something your partner won't expect, like sensually washing his/her hair in a candlelit bath or having a warm towel ready when he/she steps out of the shower. Or trying something new in your sex life.

Changes or surprises in your sex life are known to add the element of fun in relationships.

7. CELEBRATE YOUR LOVE Do something symbolic such as planting a special bush or buying a pot plant that is your partner's favorite variety and let him/her know that it represents your love.

8. DO A FAVOUR Try one little chore that benefits your partner directly, such as dropping his laundry at the dry cleaners. Such things take only minutes but show how much you care and add value in your relationship with your partner.

1. STAY SPONTANEOUS Do something that looks unplanned such as dropping in to your partner's office and taking him or her out for lunch, packing a little gift in his briefcase or getting tickets to a concert or the theater. Unplanned gestures such as these can up the romantic love quotient in your relationship

2. MAKE LOVING GESTURES While having dinner, you can put on soft music, light candles and tell your partner how much you've been

9. COSY UP TO YOUR RIVAL If there's someone in your partner's life you consider to be a rival, such as his best friend or mother, stop arguing about them and surprise your partner by inviting them over for a lovely dinner.

10. RELIVE THE PAST Looking at holiday snaps, family photos or wedding snaps can also help in making a relationship stronger and the heart go fonder.

Try these out to make your relationship more interesting and allow romance in your marriage to last a lifetime!

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The ten ways to stay happily married are:

INTERNET

YOUR TWITTER POPULARITY, Just 10 Steps Away Twitter is a fast, fast network. It breaks news, it grows at crazy speeds, it gets people fired and wins elections for US Presidents. So if you're screwing up on twitter without realising it, you're going to lose friends equally fast. I assume you have enough IQ to not need to be told about spellings, !@^gu@g&, spam, and ALLCAPS. RULE #1: BE INTERESTING So you ate a dhokla, and felt sick. Nobody cares. So you ate a dhokla, puked on your neighbour's vicious pomeranian from the balcony, and then took a photo people DO care. Make people's lives a little more fun.

If you have one thing to say, say it once. If nobody responds, it means nobody cares. Deal with it. Find something else to say.

RULE #2: GIVE CREDIT WHERE CREDIT IS DUE

RULE #7: BE SHORT

Sure, nobody will know if you cut-paste something nice from somebody and try to pass it off as your own; but that's the kind of thing that get you ostracised, slowly and surely. Retweet, yaar. Adding a, 'RT @(username) doesn't cost anything and gets you a smile and a mention from the source. These are the little drops that add up to the ocean.

RULE #8: PUT A FACE OUT THERE

RULE #3: THOUGH SHALT NOT FLOOD Log on in the morning, stay logged on, and tweet when something interesting turns up. Don't do your tweeting in batches of 10 at a time, nobody reads anything between 1 and 10.

RULE #4: USE TAGS They make your tweetstream that much easier to find and once found, "followed" is but a whisker away.

Followed means power. Ashton Kutcher can tell 2 million people in the world whatever he wants by typing 140 characters and 1 click. That makes him more popular than a whole lot of radio stations and TV channels.

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RULE #6: DON'T BE REPETITIVE

RULE #5: EVOLVE BEYOND THE WEB Get yourself a slick twitter app, there's tons out there for free. They're a lot more fun than the boring old twitter.com web interface. And if HAVE to have the web interface, for the love of god, CUSTOMISE!!

Yes, even shorter than the 140-character limit. Short tweets are easier to retweet, since the RT @(username) will get tagged on. Nobody has the time to edit your tweets to make them more palatable for the audience.

Anything. Cartoons, your face, images, baby photos, dogs, anything but the default icon. That just makes people run away and you look like a noob.

RULE #9: START FOLLOWING Find something / someone interesting to follow.

Otherwise you're going to be like 75% of all twitter users, who created an ID and never used it ever again because nothing was happening. And when I say 'follow', I don't mean just your friends - find strangers, companies, there's tons of good stuff out there!

RULE #10: WATCH WHAT YOU SAY Twitter is the ultimate in public information.

EVERYTHING you write is visible. Forever. By ANYONE, not just the people following you. Think about it. Your boss could one day find your tweets.

(Google #ciscofatty for a classic example). Look at our very own Mr. Tharoor.

And once you're past this - welcome to the next level of social connectedness!

Mock Me, But No Impersonation Please Shashi Tharoor is game to being mocked at on Twitter, but wary about being impersonated, what with the kind of controversies his tweets have already created.

“Call me Slushy Tharoor and I can laugh about it; but don’t impersonate me on Twitter,” said Minister of State for External Affairs Shashi Tharoor at the Bangalore Twitter Meet Up on Friday as he addressed a net-savvy group of about 100 young people. “I think I have the moral right to my identity which I don’t want anyone using; but as far as jokes go, anyone knows I am a satirist myself and can laugh about a good joke,” said Mr. Tharoor, who now has 3,99,380 followers on Twitter.

“I joined Twitter to demystify the processes in governance and also so for the element of accountability,” he said. “Though a lot of (misreporting) has caused me political damage, I think it can help me connect with real people,” he said, describing Twitter as “wonderfully self-limiting with its 140-character space.” He mostly tweeted during car rides and late at night. While U.S. President Barack Obama is said to be following 5,00,000 people, he only followed the few he could actually afford to follow. “All the tweets I reply to are each written by me,” he said.

As for the now infamous “cattle-class” tweet, it was a phrase thrown up in the question he was asked, and it was one commonly used in the United States. “I should

have known its connotations in a multilingual country, where the word ‘cattle’ has much significance.”

The affable politician-Minister traced his journey from being an unlikely entrant into politics to finally being able to grapple with a political system, which, he says, was not necessarily built for efficiency but surely for checks and balances.

Tharoor also offered a variety of suggestions from his young fans - from making Twitter mandatory for all Ministers to being able to use it within the government set-up itself.

He ended his interactive session with a story from his constituency, Thiruvananthapuram, where a young girl lost her legs in an accident at an unguarded railway track.

“I tweeted about the incident and help poured in from all directions for her surgery and prosthetic legs.”

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In an intimate hour-long session with Twitter users, peppered with humour and wit, the Minister, who has been part of many controversies over his tweets on the micro-blogging and social networking site, rubbished all sorts of allegations cheerily amidst a seemingly starry-eyed youth following.

Bangalore’s first and foremost full-spectrum IB School welcomes your child for an unforgettable upbringing.

He or she will join a team of 750 students from across 28 countries for a truly international experience.

Indus International School provides a completely balanced environment focused on shaping children into leaders of tomorrow. We offer comprehensive education through a developmental approach. The school’s environment promotes order, independence, a love for learning, a connection to the world and a sense of social responsibility. Founded on the ethos of ‘In Omnia Paratus’ - prepared for all challenges, the School nurtures the leaders of tomorrow through a unique and well-defined curriculum and a dedicated focus on “learning beyond classroom.”

THE INTERNATIONAL CURRICULA AT INDUS IBO Primary Years Programme, up to Grade 5 IBO Middle Years Programme, up to Grade 8 Cambridge IGCSE, Grades 9-10 IB Diploma, Grades 11-12 With an infrastructure that supports excellence in all areas, Indus International School provides a wide array of world-class facilities in academics, sports, IT, and habitat. The school is located on a sprawling 40-acre campus in the city of Bangalore — the capital of the State of Karnataka, a city with a cool climate and a cosmopolitan culture.

As one of Asia’s fastest growing cities, Bangalore combines a quaint old-world charm with the vibrant environment of a modern metropolitan city. Culturally diverse and historically rich, Bangalore is known for its communal harmony.

The school is managed by its CEO soldier-scholar Lt. General Arjun Ray, PVSM, VSM (Retd.) and its Board of Trustees comprising of eminent members representing varied fields.

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Billapura Cross, Sarjapur, Bangalore 562125.

Tel: +91-80-22895900 +91-80-7823888

In Omnia Paratus – Prepared For All Challenges

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The country is paying the price for embarking on the world’s biggest spending spree – with other people’s money. Can it ever recover?

Just

Deserts?

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Dubai:

achel Barrett wanted a better life. Now she fears that she has lost everything. The 28year-old left Dublin to become a stewardess on Emirates, the Dubai-based airline. She liked the work, she liked the Gulf city. So she saved £33,000 and put down a deposit on an apartment in the planned Jumeirah Village development.

R

“I wanted to put down roots in the desert,” she said.

Today, she is still living in her old rented home and fears she may run out of money.

The problem is that Nakheel, the master developer of the complex in which she invested, is labouring under crippling debt and has handed over the project to a Lebanese-owned firm. It has not started work on the new development and Barrett’s requests for her deposit to be returned have gone unanswered.

“I’ve worked hard. I just want my money back,” she said, wary that she cannot afford to lose such a large amount in a country where bankruptcy laws are so strict that bouncing a cheque means a jail sentence.

It is debt that is pushing Barrett and many thousands

of expat workers like her to the brink, and now it is debt that is threatening to do the same to Dubai itself.

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Last week’s shock decision by Dubai’s ruler, Sheikh Mohammed bin Rashid al-Maktoum, to impose a standstill on $60 billion of debt repayments by the statebacked conglomerate, Dubai World, has left the city state confronting its worst crisis since it burst onto the global stage a decade ago.

Analysts fear that Nakheel — which is part of Dubai World — could crumble like a sandcastle into the Arabian sea and, if that happens, Dubai World and perhaps Dubai itself could follow.

“Dubai World is the the Middle East’s Lehman

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Brothers,” said one local banker this weekend, recalling the collapse of the US banking giant that turned the credit crunch into a global financial crisis last autumn.

Sheikh Mohammed’s announcement has left many asking how Dubai has got into such deep trouble so fast? And can this razzle-dazzle sandpit the size of Kent pull through?

THE Dubai World story is a microcosm of the bigger Dubai story.

Unlike its neighbours, the tiny emirate does not have oil. So, to secure its economic future, Sheikh Mohammed decided to diversify. His was not any old diversification programme. It was the most extravagant building programme the modern world has seen, featuring the world’s tallest building and the biggest reclaimed island, not forgetting the largest ski dome — built despite the 50C summer heat.

Hundreds of billions of pounds were spent to make the city the property, tourism, retailing and financial services hub of the Middle East. Sheikh Mohammed set up a number of state-backed firms and encouraged them to borrow money. Dubai World is typical.

Sheikh Mohammed’s plan worked brilliantly when money was cheap and the global economy booming. House prices quadruped in a decade. The value of Dubai’s investments grew.

There were so many well-upholstered bums on Emirates well-upholstered seats that the airline ordered 58 doubledecker Airbus A380 jets at a cost of £10 billion.

Between 2000 and 2008 tens of billions of pounds flowed into Dubai. The UK has invested more than any other country — an estimated £3 billion.

From the start, analysts warned of two big dangers: what

locals dubbed “Dubai’s double jeopardy”. First, if there were a downturn, the emirate’s debts could leave it fatally weakened. Second, Dubai Inc was dependent on a handful of executives headed by Sheikh Mohammed, none of whom had proven his worth on a global business stage before. Certainly none had experience in the kind of “Lego for grown-ups” that Dubai was undertaking.

Unfortunately for Dubai, those two flaws have been cruelly exposed all at once. The credit crunch has crashed on to its biscuity shores with the force of a tsunami.

Take Dubai World. With the property market transformed from a bazaar of eager buyers into a den of sellers, Nakheel cannot pay its creditors. So few tourists are visiting Atlantis that it has been forced to slash rates. Revenues at Dubai World’s ports are down.

And the company does not have enough money to embark on its ambitious £10m scheme to re-fit the QE2, so there are plans to send the vessel to Cape Town to act as a floating hotel for fans during next year’s football World Cup.

The country’s economic leadership has also been exposed as inexperienced. Not only did Nakheel expand too far, too fast but the aggressive overseas expansion by Dubai World’s boss, Sultan Ahmed Bin Sulayem, has proved disastrous. He was behind the worst single property investment of the boom years when he bought half of a Las Vegas casino project for $3.6 billion. Two years on, the stake is worth $2.4 billion. Small wonder the joke doing the rounds in Dubai last week was that that Bin Sulayem “raised the Palm but sunk the Sheikh”.

Sheikh Mohammed has other problems. Detractors accuse him of a lack of transparency and of weakness.

They point out that only three weeks ago he made a

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It runs Dubai’s ports. It is behind the iconic Palm Jumeirah property development, the reclaimed island in the Arabian sea in the shape of a date palm, and dozens more developments like it. It owns the £1 billion Atlantis hotel that sits atop the Palm. It recently bought Barney’s, the upscale US department store, the QE2 cruise ship, Madame Tussauds and Turnberry golf course in Scotland.

It has a stake in Cirque du Soleil and invested heavily in a Las Vegas casino.

Sheikh Mohammed speech saying that Dubai could meet all its obligations, dismissed its critics as ignorant and said they should “shut up”.

“He said everything was okay when we now know it was anything but. Was he lying or did he simply not know? I don’t know what’s worse,” said one local businessman.

Many now worry what other secrets are lurking in the desert sands. Dubai’s rulers are notorious for covering up problems, aided by state-controlled media, which act as cheerleaders for the emirate.

“It’s like Alice in Wonderland here,” said one expat.

“You never know what’s really going on until it hits you.”

Youself Al Khameini, a young maths professor, criticises the timing of Sheikh Mohammed’s announcement — on the eve of the four-day Eid holiday. “Imagine Gordon Brown making such an important economic statement at 6pm on Christmas Eve,” he said.

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And if all that weren’t bad enough, observers say last week’s crisis has undermined a key pillar underpinning Dubai. In the past, oil-soaked Abu Dhabi, Dubai’s

SHEIKH HAMDAN BIN MOHAMMED

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SHEIKH AHMED BIN SAEED AL MAKTOUM

neighbour and the federal capital of the United Arab Emirates, has bailed out Dubai. Earlier this year, the UAE central bank, based in Abu Dhabi, propped up Dubai to the tune of $10 billion.

Dubai has been trying for months to raise a further $10 billion but last week the central bank failed to ride to the rescue, although two state-backed commercial banks in Abu Dhabi did raise $5 billion last week.

“We always thought Abu Dhabi regarded us as too big to fail and would offer a blank cheque one way or another,” says one Dubai-based Indian businessman.

“Now it looks like they are looking at each problem on a case-by-case business. That’s worrying.”

IS THE glitzy emirate Neverland built on the never never? Or could Dubai World — and Dubai — survive?

Government officials, speaking privately since Sheikh Mohammed has imposed a news blackout, say the West is too quick to write off Dubai.

“Western countries and companies are restructuring just as we are,” one said yesterday. “And they are talking about much larger sums of money than we are but, somehow, outsiders can’t seem to resist doing us down.

SHEIKH MAKTOUM BIN MOHAMMED

AHMAD HUMAID AL-TAYER

MOHAMMED AL-SHAIBANI

It’s real chicken shit.”

There is certainly an element of schadenfreude in the reaction to Dubai’s problems. As one westerner put it: “After insisting it would be the No 1 in absolutely everything, it’s good fun to ridicule Dubai for becoming No 1 in boom and bust.”

Senior business executives point out that while Dubai World may be in difficulty, most other local firms, notably Emirates and Jumeirah, are in profit and the economy as a whole is growing by 1%-2% — better than Britain.

Local analysts add that the fundamentals of the Dubai economy are sound. They point out that Dubai has invested in infrastructure to become the undisputed business capital of the trillion-dollar Gulf economy.

Dubai airport is the fastest growing in the world. Trade at Jebel Ali port may be down but it remains the world’s third busiest.

There are so many Indian businessmen who have set up in Dubai, to avoid the stifling bureaucracy in their homeland, that they joke that “the best place in India is Dubai”.

Best of all, the oil price is rising again, increasing demand for the services Dubai supplies around the region.

The Atlantis

Sultan Ahmed bin Sulayem Chairman Dubai World, Simon Williams, HSBC’s chief economist in Dubai, said: “Dubai works because the Gulf works and the Gulf is not going to stop working.”

Whether it starts working well enough for Barrett to get her life savings back, only time will tell. “I won’t cry about it,” she said. “I’m not a wimp. I try to stay positive.”

Like Dubai, she is clinging to her dream.

Additional reporting: Sean O’Driscoll Why the markets were so spooked by problems in the Gulf Since the global financial crisis began, investors have fretted about a particular nightmare, writes David Smith. What if, in bailing out the banks, governments have bankrupted themselves?

Sovereign debt — debt issued by governments to cover their own borrowing — has

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By promoting Islamic finance and encouraging women to go into business, Dubai has also become a business mecca for hundreds of thousands of Palestinians, Syrians, Iranians, Lebanese and Indians who are unlikely to decamp to New York, London or Paris.

ballooned as a result of the crisis. Britain is borrowing £175 billion, or nearly 12.5% of gross domestic product, this year and issuing more than £200 billion of government bonds. Most of that debt is held by domestic investors but some is owned by foreigners.

Throughout history, countries have defaulted on their debt, although most advanced economies have not done so for many centuries. England defaulted on her debt in 1340, 1472 and 1594, and France did so on eight occasions between the 16th and 18th centuries. A debt crisis in the 1930s, when debt interest reached 65% of tax revenues, eventually forced Newfoundland to become part of Canada. The most recent debt default was by Russia in 1998, which caused panic in financial markets.

Dubai has revived fears of defaults on sovereign debt. The debts of Dubai World, the governmentowned holding company, are not strictly sovereign debt. But the markets decided last week that the distinction was unimportant. Dubai World’s request for a six-month suspension of payments was to revive fears about the emirate’s sovereign debt and also that of other countries.

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Some of those concerns are about so-called emerging economies, such as Mexico and Vietnam, as well as countries such as Latvia. But

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others are closer to home. Worries about the sovereign debt of Ireland and Greece were heightened as a result of the shock move from Dubai.

It seems highly unlikely that Dubai will default on its debt. Abu Dhabi, its oil-rich neighbour which is also part of the United Arab Emirates, will not allow that to happen and neither would Saudi Arabia, which has large investments in Dubai. The worries over sovereign debt will remain, however.

Many countries are borrowing amounts that would have been considered unthinkable even 18 months ago. The rating agencies — which give investors an indication of how safe their investments are — have downgraded Ireland from its former AAA status and have given notice that Britain could face a similar fate if credible measures to slash the budget deficit are not introduced.

Any downgrade would make markets more wary of Britain’s debt and make it more expensive for the country to borrow.

In the meantime, the markets will be watching Dubai. Its actions last week sent shudders around the world. It will not just be its bankers and investors who are hoping the uncertainty is resolved this week.

Toyota to unveil concept compact car in India next month Japanese car maker Toyota Motor Corporation would unveil the concept model of its compact car for the Indian market next month.

Toyota's Indian unit, Toyota Kirloskar Motor Pvt Ltd (TKM) plans to start production of its much awaited compact car in December next year at its second plant being built in Bangalore.

The compact car project is Toyota's most ambitious venture in India in its 11-year existence and the company is betting big on this initiative to become a volume player.

"Both hatchback and sedan version of concept vehicle of the compact car will be showcased at Auto Expo (to be held at Pragati Maidan in New Delhi from January 5

"Prius we are going to display and you can say we are talking about launch of the Prius", Singh said.

He said Prius is not a volume product and the company is just looking to sell just a few numbers.

"We just want to impress upon the government to give some special concession on duty (for Prius).

Otherwise, it does not make sense to pay such a high duty and sell it. It could be very expensive", Singh said.

"But we would like to sell a few numbers. We are impressing upon the government to give some concessions to hybrid vehicle".

He declined to talk about the price tag of Prius in India. TKM expects to close the current calendar year with sales of 53,000 units, up from 51,800 in 2008, Singh said.

TKM, a joint venture owned 89 per cent

by Toyota and 11 per cent by the Kirloskar Group, last month announced that it has crossed four lakh unit retails sales in India since inception.

"Production will start by December of 2010. First year production plan is 70,000", he said.

TKM is also showcasing its Toyota Prius hybrid car in the biennial event in the national capital and is looking for its launch in the Indian market.

Currently, Toyota has 93 dealerships and has firmed up plans to enhance its dealer network to 150 outlets before the launch of its much awaited compact car in early 2011.

Toyota's products in India are Corolla Altis, Innova and Fortuner, manufactured in India, while Camry, Prado and Land Cruiser are imported as Completely Built Units.

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to 11)", TKM deputy managing director Sandeep Singh said. "It's a concept vehicle coming from Japan".

The company also announced a 50 per cent jump in total sales at 5,650 units in October 2009, compared to the same period last year. The rise in sales figures can be attributed to the excellent response for the Corolla Altis and Innova and introduction of the Fortuner in August 2009, the company said.

Romesh Sobti, MD & CEO

IndusInd Bank Better Positioned Now IndusInd Bank started out in the same year – 1994 – as ICICI Bank, HDFC Bank, & Axis Bank, with almost the same scale of capital.

But now all those banks are at least 5 to 10 times the size of IndusInd. That this was despite Hinduja Group’s international expertise in banking, has been a sort of riddle in banking circles. But with the second quarter results out, IndusInd Bank has proved that it can shrug off this lethargy and grow faster than others to catch up on lost time.

IndusInd grew its net profit by 131% this quarter, and it was one of the healthier all-round results posted by any private bank or comparable public sector bank. The even better news is that when taken as a whole, the two quarters or H1 has registered a 211% growth. With this, IndusInd has become the country’s fourth fastest growing bank in net profits.

But the bank still lags behind peers in deposits and advances growth. MD & CEO Romesh Sobti needs to address several of IndusInd’s potentials that

I

haven’t still played out. For example, IndusInd Bank is the country’s only bank to be originally promoted by a group of NRIs. Despite this significant exposure among the NRI community, the bank had failed to put up a good performance in garnering NRI remittances, which is always considered as a good source of low-cost funds.

Also, IndusInd Bank has always played the game conservatively, with not much enthusiasm for funding the so-called sensitive sector including unsecured retail, real estate, and capital markets.

Such an outlook has prompted the bank to take a contrarian view on problematic NPAs. IndusInd was noted for opting out of the CDR process to revive Subiksha, the troubled retailer. Anyway, under Sobti’s leadership, the bank is spreading its focus on segments like consumer loans. The bank was however always strong in investment banking and servicing HNIs, and this has helped them to grow faster now.

ORIENTAL BANK OF COMMERCE

Oriental T Values, Western Efficiencies

he 2008-09 global financial distress proved that when it came to stable banking, it was oriental or Indian type values that mattered.

Oriental Bank of Commerce (OBC), founded at Lahore, shifted to Amritsar, and headquartered in New Delhi for long, is one of India’s premier public sector banks. The bank has stood the test of time, and even while relying on its Indian values to tide over the present crisis, has not been averse to adopting Western efficiencies. OBC is a full service bank – they call it by the name wholesome banking – featuring anytime anywhere banking that addresses retail, corporate, & industrial clients using the latest in technologies like core banking, internet, mobile, & ATMs. During the quarter ending June 30th 2009, Oriental Bank of Commerce grew its net profit by over 46%, with the total business mix crossing Rs. 1,74,000 crores.

No wonder, the OBC scrip has been performing well on the bourses, with 2 lakh shares being added to open interest recently.

The bank has a new Chairman & Managing Director in TY Prabhu, who is a Canara Bank veteran, who joins OBC from a successful tenure with Union Bank of India as its Executive Director. Oriental Bank of Commerce has always been in the forefront of social initiatives, be it participation in the national pension plan or poverty alleviation for the BPL classes. The bank is also on a major expansion drive with a new recruitment drive being announced. OBC’s innovative bancassurance model – but partnered with two banks itself, HSBC and Canara Bank – has already become the fastest grower in the life insurance sector.

TY Prabhu, CMD

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M.N Rao, Managing Director & CEO

M.N Rao, Managing Director & CEO

SBI LIFE INSURANCE

SBI Life Insurance has acquired immense momentum in the country’s private life insurance sector, cruising past even the lead driver ICICI Prudential. But sooner or later, SBI Life’s competition will be more and more against the nation’s insurance behemoth LIC, which is 100% Government owned. Life Insurance Corporation of India is not only manifold bigger, but still growing at a furious pace. But SBI Life is showing a few key signs of catching up fast, the latest being worldwide leadership in the Million Dollar Round Table (MDRT) membership. This is a consequence of its continued leveraging of SBI’s brand equity, unique multi-distribution model and customer centric approach.

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Growth Powered by Innovation & Trust

Impressive All-round performance During this year, SBI Life has consistenly maintained the lead position and emerged as no.1 private life insurer.

As per the latest IRDA reports, has a total market share of 6.58% and a market share of 18.95%. Amongst the larger private players it has the highest growth rate of 12.56%. During the first six months of the current financial year it posted a record profit of Rs. 116 Cr. The Assets Under Management grew by 68% to Rs 21,922 crores , during the first half of financial year. SBI Life’s unitlinked product inflows, contributed to almost 65 % to its total premium income ensuring a balanced mix of marketlinked and traditional products. Mr. M.N Rao, Managing Director & CEO, SBI Life Insurance states, "Keeping the customer as our focal point, we will continue to focus on holistic growth and all round performance. Leveraging SBI’s strong brand equity and cost efficient business model, we will drive growth and profitability”

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Global Excellence If you or some close relative have ever worked in life insurance, you would know what MDRT is. The Million Dollar Round Table AS PER THE LATEST is an association of the IRDA REPORTS, HAS world’s best performing life A TOTAL MARKET insurance advisors. 36,000 SHARE OF 6.58% AND professionals from 450 A MARKET SHARE OF companies across 76 18.95%. AMONGST countries, to be precise. In THE LARGER PRIVATE 2009, SBI Life had the PLAYERS IT HAS THE maximum number of MDRT HIGHEST GROWTH members – 2677 – in the RATE OF 12.56%. whole of this world. And it was no onetime gimmick.

The country’s leading private insurer was steadily moving up in worldwide MDRT

rankings, 5th in 2007, and 3rd in 2008. SBI Life’s achievement can only be fully appreciated when we take into account the relative performance of its competitors. It had surpassed giants like New York Life and Northwestern Mutual of USA, Samsung Life of Korea, and Prudential Life Insurance of Japan. And SBI Life’s nearest Indian competitor was HDFC Standard Life at Rank 18 (with 373 MDRT members), LIC at Rank 20 (345 members) & Max New York Life at Rank 28 (218 members). As

Unique Multi-Distribution Channel: SBI Life has a unique multi-distribution model encompassing vibrant Bancassurance, Retail Agency, Institutional Alliances and Corporate Solutions distribution channels.

SBI Life extensively leverages the State Bank Group relationship as a platform for cross-selling insurance products along with its numerous banking product packages such as housing loans and personal loans. SBI’s access to over 100 million accounts across the country provides a vibrant base for insurance penetration across every region and economic strata in the country, thus ensuring true financial inclusion. Agency Channel, comprising of the most productive force of over 68,000 Insurance Advisors, offers door to door insurance solutions to customers.

Strong Parentage In some ways, it is not at all surprising that SBI Life would rapidly emerge above all other private sector life insurers and even pose competition to LIC. SBI led State Bank Group may not still figure in the world’s Top50 Banks by assets, but is arguably the largest in the world on a key metric – the number of branches. At over 16,000 branches, this is one key strength that SBI has brought into

BNP Paribas Assurance, on the other hand, brings in some unparalleled experience from the international insurance industry.

Operating under two brands – Cardiff & BNP Paribas – their multifaceted insurance products are available across 41 countries, and their life insurance products across 11 countries. BNP Paribas Assurance has alliances with 35 of the world’s topmost banks for their bancassurance model, and is the world leader in the specialized field of creditor insurance – a field with a massive potential that India is yet to awaken to. Creditor Insurance is life insurance sold alongside loans, and the most common example is an entrepreneur covering his business loan and life together so that in the unfortunate event of his death, his business loan also is repaid by the insurance firm.

SBI Life has already started utilizing this leadership in creditor insurance to come up with cross-selling life insurance products when SBI customers opt for personal and home loans.

BNP Paribas Assurance also has a strong banking parent, BNP Paribas, which is the largest corporate company in France, the largest bank in Euro Zone, and the 5th largest bank, worldwide.

If anybody thought SBI’s and BNP Paribas’ parentage is not enough for trust, here is the real credentials on the trust front.

SBI Life is rated AAA by CRISIL and iAAA by ICRA indicating the highest ability to meet customer obligations.

Enhancing Customer service through technology: Taking innovation beyond mere selling, SBI Life has made numerous customer

service enhancements like payment of renewal premium at any of SBI’s 16,000 branches or introduction of online premium facility or the launch of customer self-service portal - MyPolicy .

Customers can also avail of electronic clearing services, ATMs, credit cards, Skypak drop box etc. Customer redressal mechanisms have also been bettered with local level settlements that eliminate unnecessary scaling up.

Latest offering: Innovation, of course, is also seen in their products, Shubh Nivesh being the best recent example. SBI Life - Shubh Nivesh, is a traditional savings plan with an option of whole life cover. Shubh Nivesh has been designed to meet the savings, protection and SBI LIFE - SHUBH income needs of customers NIVESH, IS A having a risk-averse profile.

TRADITIONAL SAVINGS SBI Life Shubh Nivesh can be PLAN WITH AN OPTION availed by an investor who is OF WHOLE LIFE COVER. at least 18 years or at most 60 SHUBH NIVESH HAS years of age. The maximum BEEN DESIGNED TO life coverage is for 65 years, MEET THE SAVINGS, which could be increased up PROTECTION AND to 100 years by opting for a INCOME NEEDS OF whole life add-on rider. The CUSTOMERS HAVING A product is available under RISK-AVERSE PROFILE. both single and regular premium payment options at a sum assured starting at Rs. 75,000/- with no upper limit. Premiums can be paid yearly, half yearly, quarterly or monthly depending on customer’s convenience.

Also, at a nominal cost, Preferred Term, Accidental Death Benefit and Accidental Total and Permanent Disability Benefit riders are available with the plan.

Customers can also avail of Tax Benefits u/s 80 C and 10(10 D) of the Income Tax Act on the premiums and maturity or death proceeds.

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this bancassurance partnership. The 16k branches service an unbelievable 100 million accounts, giving SBI Life an incomparable reach.

Kuppuswamy, MD & CEO

PT Kuppuswamy, MD & CEO

KARUR VYSYA BANK

The Model for Small Banks When it comes to banking, quarterly results are not what they seem on the headlines. H2 of 2008-09 and H1 of 2009-10 have been four quarters that saw even the biggest names in Indian banking fall upon the support of non-core operations like treasury. But at Karur Vysya Bank, the growth in net profit has been a healthy all-round growth, and KVB has been one among a select few banks who actually expanded their profits significantly by core lending operations. Though a relatively small bank, Karur Vysya Bank has also been a surprisingly strong wealth creator for its shareholders, and during the last three years has figured in the Top-10 banks by shareholder value, even outpacing loud brands on the bourses like HDFC Bank and IndusInd Bank.

For the quarter ended September 30th 2009, Karur Vysya Bank increased its net profit by 46.07%, riding on an increase in total interest income of 23.61%. The bank could maintain

its Net Interest Margin (NIM) at 3.06%.

And for the quarter ended June 30th 2009, KVB had increased its headline profits by 130.35%, and increased its net interest income by a not-so-bad 21.40%.

Taken together, these results amounted to an H1 rise of 74% in net profit and 27% in total interest income.

Karur Vysya Bank’s Capital Adequacy Ratio (CAR) is excellent at 16.01% under Basel II, ahead of most of its peers. This enables the bank to be already fit as and when credit picks up significantly during this financial year.

On the NPA front – the bane of both private

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hen India’s private sector banking giants like ICICI Bank and Axis Bank were swayed by the global economic crisis, and the country’s public sector giants like SBI & PNB took shelter under RBI wings, a comparably small private bank based out of Karur in Tamilnadu proved that being small and being private don’t predispose one to disaster. Karur Vysya Bank (KVB) has not only come out of the downturn unscathed, but topped it up with some blistering performance.

and public sector banks in the country – Karur Vysya Bank came out with a surprising performance. KVB’s net NPA level as a percentage of net advances is just 0.24%, one of the best in the country.

Seasonal Magazine in conversation with PT Kuppuswamy, MD & CEO, Karur Vysya Bank:

Under the leadership of MD & CEO PT Kuppuswamy, the bank had started a program of proactive engagement with its loan clients to ensure that they receive all support to prevent the assets from slipping into the NPA class.

Our Q2 results for the current FY have been extremely satisfactory with our bank’s H1 net profit registering a 73.82% growth year-on-year, up from Rs. 92.77 cr. to Rs. 161.25 cr. As compared with the Q2 results of 200708, our net profits have grown by 46.07% during this year (Rs. 90.90 cr. as against Rs. 62.23 cr.).

Our total business also reached Rs. 28500 cr. and is now presently placed at more than Rs. 29000 cr. Our other financials – Capital adequacy at 16.01% as per Basel II norms (as against the RBI mandate of 9%), Net NPA at 0.22% are also very comfortable.

Under the circumstances, we are extremely confident that with the improvement in the economy and the resultant impact on the banking industry also, we should be able to turn in a much better performance in the ensuing quarters also.

Though a private sector bank, KVB has stuck to its roots as a traditional private sector bank, steering clear of the less diligent processes followed by new generation private banks in granting loans. The top performance on the NPA front is due to such diligence that starts at the loan evaluation stage itself.

At the same time, Karur Vysya Bank has adopted all the professional policies of new gen banks, and this is especially seen in their compensation and promotion packages that remunerates and promotes performance and performers.

Another chapter the bank has adopted from new gen banking is multifaceted tech initiatives, thanks to which the bank is at par or above any other in multiple digital access and core banking services.

The bank is on a major expansion drive now for probationary officers, and intends to raise Rs. 300 crore to fund expansions this year.

KVB has outgrown its local image with nationwide presence and full implementation of core banking services. At the same time, it honours its past too, with its Non-Executive Chairman being Athi S Janarthanan, a prominent industrialist, who and his forefathers played key roles in founding and advancing this thriving private bank.

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Uniquely qualified as a Chartered Accountant and a Company Secretary, MD & CEO Kuppuswamy has been a Canara Bank veteran and has been exposed to numerous industry events and training programs, including in USA.

Under the leadership of MD & CEO PT Kuppuswamy, the bank had started a program of proactive engagement with its loan clients to ensure that they receive all support to prevent the assets from slipping into the NPA class.

With second quarter results released recently, how would you rate your performance?

Karur Vysya Bank, lately, has been successful in containing the NPA levels. What are the steps you have taken in this regard to prevent slippages in the future?

We undertake all the steps that a prudent banker is expected to do which starts with processing the proposal itself. The viability of the project and credibility of the

Karur Vysya Bank’s Capital Adequacy Ratio (CAR) is excellent at 16.01% under Basel II, ahead of most of its peers.

On the NPA front – the bane of both private and public sector banks in the country – Karur Vysya Bank came out with a surprising performance. KVB’s net NPA level as a percentage of net advances is just 0.24%, one of the best in the country.

Is a performance linked wage scheme in place at KVB? Otherwise how do you rationalize the recent major recruitment drive for probationary officers?

Performance linked incentives based on the branch performance on certain key parameters has been in place since the past four years. This apart, we have other employee-friendly HR measures like payment of handsome ex-gratia to all the employees, fast track promotions (within one year of their entering into service) for employees in the clerical cadre with engineering or post graduation qualifications to the officer cadre. This helps us to encourage as well as retain talent.

KVB has one foot firmly in the past and one foot poised for the future. Is this a unique challenge - balancing community concerns and nextage concerns?

More than a challenge, this is our strong point. In fact one of our key slogans is “Tradition with Technology”.

Rooted in tradition means that we enjoy the trust of our customers. At the same time, we are forward looking and have taken to technology in a big way so as to keep up with the aspirations of the young customers. We were one of the earliest banks in the country to migrate to CBS platform (2005). We offer the best of tech backed services like Internet and Mobile banking, which are on par with the best in the industry; yet our service charges are pegged down at affordable rates so that all can derive the benefits of technology.

Under the circumstances, we have the unique advantage of enjoying the best of both worlds.

Your scrip has done moderately well in the bourses with some of the best industry pundits picking up stakes. What are the secrets?

Our bank has been consistently rewarding our stakeholder. For instance, we have maintained our dividend levels at 100% since 2004-05 with 120% disbursed during the last two years. Further, we have gone in for 16 rights and 6 bonus issues at a very considerate price which were all fully subscribed.

Obviously this has backed our sound financials and steady growth.

You are a uniquely qualified MD & CEO, being a CA & ACS. Is this professional background an edge in leading a bank like KVB in these troubled times?

Definitely, professional qualifications are a great support in studying and reacting to market trends. My educational background along with my rich experience in the banking sector has enabled me to anticipate changes in the market and also suitably solve sticky situations.

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borrower are thoroughly assessed when any proposal is received. Our post sanction follow up is also on sound lines with the accounts monitored on a continuous basis not only at the branch level but also at the Divisional level and corporate level. Since all our branches are linked under the CBS platform, technology helps us in effective monitoring. In the event of any issues with the account, the borrower is immediately contacted to assess their problems and genuine cases are considered for rescheduling. Even in the event of an account slipping into NPA category, swift steps are taken through the use of the SARFAESI Act, while long pending small accounts are recovered through the Lok Adalats.

Uday Kotak

1985-2010: 25 YEARS

The Kotak

Quarter

ithin the first 25 years Uday Kotak and his team has built India’s leading Investment Bank. The Group controls 16% of India’s burgeoning Initial Public Offer (IPO) market. Kotak Mahindra is also the leader in the booming Global Depository Receipts (GDR) business, through which India Inc’s most ambitious raise overseas cash. In 2003, the firm created history by becoming the first Non Banking Financial Institution (NBFC) in the country to become a regular commercial bank. Partnering with global giants like JP Morgan Chase, Morgan Stanley, & Deutsche Bank, and parting ways with other giants like Goldman Sachs & Ford Credit, Uday Kotak has proved that he has what it takes to make Kotak Mahindra a noted financial group internationally. With 800 offices across India, and in key financial hubs like London, New York, San Francisco, Singapore, Dubai, & Mauritius, the Group is in an enviable position for a 25 year old financial sector firm in India. The latest quarterly results from the flagship firm Kotak Mahindra Bank signals that the Group has weathered the recessionary storms well. Income was up over 25%, and net profit was up by 86%. At the same time the bank could halve its portfolio of unsecured retails loans. Despite being a corporate player by its very DNA, the Group is increasingly a threat to retail players, with 75% of their portfolio being retail loans.

The year 1985 was an auspicious beginning for India in many ways.

Starting from Rajiv Gandhi’s emergence to power through the general elections, the year paved the way for India’s thrust in telecom and information technology, and ultimately in the economic liberalization of the 90s.

It was the same for a small financial start-up in India’s economic capital, then called Bombay. Started by Uday Kotak, Sidney AA Pinto, and Kotak & Company, this finance firm – Kotak Capital Management Finance Ltd – quickly gathered initial momentum and soon attracted the attention of noted industrialists Harish Mahindra and

Anand Mahindra. Thus the company became Kotak Mahindra Finance Limited.

From there, it was no looking back, diversifying and growing at an exponential scale. Starting off with Bill Discounting in 1986, Kotak Mahindra entered Lease & Hire Purchase in 1987, and by the next three years launched their Auto Finance Division.

The very next year, in 1991 – when India’s economic liberalization was kicking off – Kotak Mahindra started their Investment Banking Division, which to this day continues to be the mainstay of the Group. The same year also saw Kotak Mahindra taking over FICOM, then one of India’s largest

financial retail networks.

The next year, the Group entered into the Funds Syndication business, and by 1995 had hived off their investment banking as well as brokerage and distribution businesses into separate companies.

Kotak Securities is today one of the most respected brokerages for their in-depth analyses on listed entities.

It was Kotak Securities that uncovered the accounting hole in Reliance ADAG accounts in 2009, and they have recently voiced their doubts with some key figures in Reliance Industries Ltd’s figures too.

In 1996 Kotak Mahindra hived off their Auto Finance Business into a separate entity, and entered into a major partnership with Ford Credit.

The year also saw its diversification into the information distribution business through Matrix Information Services. By 1998, riding on the booming stock market, Kotak Mahindra had entered the Mutual Funds business by starting Kotak Mahindra Asset Management Company.

The turn of the millennium saw yet another major diversification – into Life Insurance – through a tie-up with Old Mutual plc. 2000 was also pivotal in the fortunes of the Group in other ways. Kotak Securities launched online broking, and the Group entered the lucrative Private Equity (PE) business through Kotak Mahindra Venture Capital Fund.

In the next year, Uday Kotak

proved that he was not only good at organic and inorganic growth, but at key divestments too. Matrix was sold to Friday Corporation. Four years later, Uday would do the same with Ford Credit.

But it was in 2003 that Uday Kotak created history when Kotak Mahindra became India’s first financial company to get converted to a bank.

In 2004, betting on India Inc.’s growth, Kotak Mahindra launched India Growth Fund, another PE fund.

Uday’s timing was also right in 2005, when it launched their Real Estate Fund, just in time to ride the realty wave.

In 2006, Uday showed his further mettle when he bought back the 25% stakes held by Goldman Sachs in two companies. And for the last two years, this Executive VC & MD has been showing his intentions in building a competitive banking organization by winning the coveted Hewitt Best Employer Award in the banking sector, even while pushing his vision to lead India’s investment banking sector with ideas like Privy League that caters to High Net-worth Individuals (HNIs).

Kotak Mahindra’s amazing growth trajectory comes across as one of ambition, timing, pioneering international financial products in the country, and shunning many accepted norms of the industry. Seasonal Magazine quizzes Uday Kotak on his winning strategies:

SpiceJet Announces Special Offer to Mark Republic Day 100% discount on base fare for defence personnel.

Mumbai, December 07, 2009: SpiceJet, India’s most preferred airline, announces a special 60 day promotion for defence personnel on the occasion of our 60th Republic Day. This special offer is available to all serving as well as retired defence, paramilitary personnel and their families and they will be given a 100% discount on base fare. The offer is now open for booking on www.spicejet.com. Tickets purchased are valid for travel from January 26th 2010 to March 26th 2010.

Announcing the offer, Samyukth Sridharan, Chief Commercial Officer, SpiceJet Limited said, “To commemorate the 60th anniversary of our Republic Day, we have launched this very special 60 day offer for our defence and paramilitary personnel and their families. This plan, we believe, will help our defence personnel plan their personal travel in advance and help them connect with their friends and families easily. This offer is a small gesture from SpiceJet to recognize the immense contributions of our defence personnel to the society” All retired and serving defence, paramilitary personnel and their families can avail this offer by logging onto www.spicejet.com and booking under the Indian Armed Forces and personnel option. The passengers need to present their identity card at the time of check-in.

Bookings made under this offer cannot be rescheduled or cancelled. The offer is not valid for infants. Passenger Service Fee, relevant airport taxes

and fuel charge will apply.

SpiceJet is India's most preferred Low Fare Airline, delivering the lowest air fares with the highest consumer value. We operate 129 flights daily to 18 cities viz. Ahmedabad, Bangalore, Bagdogra, Chennai, Coimbatore, Delhi, Guwahati, Goa, Hyderabad, Jammu, Jaipur, Kochi, Kolkata, Mumbai, Pune, Srinagar, Varanasi and Visakhapatnam. Our ontime performance is amongst the best in India and coupled with a Technical Dispatch Reliability of 99.6%, making us an airline with least cancellations.

SpiceJet's new generation fleet of 19 Boeing 737-800 / 737-900ER aircraft are backed by cutting edge technology and infrastructure to ensure the highest standards in safety and operating efficiency.

SpiceJet is the winner of: World Travel Market Award for multi-channel approach in distribution (November 2009) London * National Award (ICWAI) for excellence in Cost Management (March 2009)New Delhi * 2008 Frost & Sullivan Indian Commercial Aviation Emerging Company of the Year Award (Nov 2008) London * Smart Travel Asia’s Top 10 Best Budget Airlines in Asia (Sept 2009 & 2008) Hong Kong * Outlook Traveler’s Best Low Cost Airline (Feb 2008) India * TAFI – Abacus’s Best Low Cost Airline (Sept 2007) Malaysia * “CIO 100 Award” for IT efforts for customer satisfaction and business growth(2009, 2008 & 2007) India (Matter provided by SpiceJet)

HDFC Standard Life – A Snapshot Housing Development Finance Corporation Limited, India’s premier housing finance institution, which helps people in building their homes since its inception in 1977 and Standard Life Assurance Company, which works towards insuring lives for more than 180 years joined hands to create an organisation - HDFC Standard Life, whose central belief is “Righteousness and correctness in whatever we do.” HDFC Standard Life was incorporated on 14th August 2000. HDFC Standard Life’s Product portfolio comprises solutions, which meet various customer needs such as Protection, Pension, Savings, Investment, and Health. Customers have the added advantage of customizing the Plans, by adding optional benefits called riders, at a nominal price. The company currently has 25 retail and 6 group products in its portfolio, along with five optional rider benefits catering to the savings, investment, protection and retirement needs of customers. HDFC Standard Life continues to have one of the widest reaches among new insurance companies with more than 600 branches servicing customer needs in over 730 cities and towns and a strong base of over 2,00,000 Financial Consultants.

Standard Life is a strong, financially secure business and a market leader in the UK Life & Pensions sector. Despite the criticality of life insurance, sales in the industry have been characterized by an over reliance on tax benefits and limited advice-based selling. Our eight-step structured sales process however, helps customers understand their latent needs at the first instance itself without focusing on product features or tax benefits. Need-based selling is an area that we continue to invest in.

HDFC STANDARD LIFE’S POSITIONING IN INDIA HDFC Standard Life positions itself as a respectable life insurance company supported by two strong promoters – HDFC Ltd, and Standard Life Plc. HDFC Ltd’s excellent brand strength emerges from its unrelenting focus on corporate governance, high standards of ethics and clarity of vision. Standard Life is a strong, financially secure business and a market leader in the UK Life & Pensions sector. Integrity is the bedrock of HDFC Standard Life on which the expectations of customers and employees are built. We try to understand customer needs and deliver solutions accordingly. We are customer centric with customers’ interest always being supreme. We look at every product and process through fresh eyes everyday to exceed customer expectations and maximize customer retention.

THE HDFC STANDARD LIFE DIFFERENCE HDFC Standard Life continues to remain financially strong supported by two strong and secure promoters – HDFC Ltd and HDFC Standard Life. HDFC Ltd’s excellent brand strength emerges from its unrelenting focus on corporate governance, high standards of ethics and clarity of vision.

HOW HDFC STANDARD HELPS INDIVIDUALS CHOOSE THE RIGHT INSURANCE PLAN Life insurance is designed to protect an individual and his/ her family against financial uncertainties or risks that may result due to unfortunate demise or illness. Understanding the different latent needs -- either protection or saving – that keeps changing in keeping with life-stage and financial profile is very important for effective financial planning.

Identifying the right plan based on an individual needs is the first crucial step towards insurance planning.

At HDFC Standard Life, we help individuals through this decision by identifying their various needs (as below) and offering plans that fit each of these needs. 1) Protection: Need for a sound income protection in case of your unfortunate demise. 2) Investment: Need to ensure longterm real growth of your money. 3) Saving : Save for the milestones and protect your savings too. 4) Pension : Need to save for a comfortable life post retirement. 5) Health: Cover for health related exigencies.

(Matter provided by HDFC Standard Life)

Gitanjali Gems Wins Prestigious National Award Awards to be presented by President of India at New Delhi on the International Day for Disabled Persons (December 3. 2009). Company recognized for providing training and placements to Persons with Disabilities (PWDs).

Gitanjali Gems Limited has won the prestigious “Best Employer” award in the National Awards for the Empowerment of Persons with Disabilities 2009 scheme conducted the Ministry of Social Justice and Empowerment, Government of India.

The award recognizes the efforts undertaken at the company in this field at its unit in the Rajiv Gems Park, Hyderabad.

The awards will be distributed by the President of India at a special function at Vigyan Bhavan, New Delhi on the occasion of International Day for Disabled Persons which falls on December 3.

The award is a recognition of the company’s initiative Saksham, which empowers people with disabilities by training and employing them in jewellery manufacturing and diamond polishing.

Gitanjali already employs nearly 200 PWDs. The company plans to increase this to over 1000 in the next 3 years. The trainees are provided with all amenities like food, accommodation and transportation. The goal is to create conditions for the rehabilitation of the PWD’s, by making them independent, considering them as assets and to create a life long bond by reintegrating them with the competitive world.

Recruitment is done in association with various NGOs and government organizations like DRDA, EGMM, VRC and Rajeev Udyogshree by organizing job melas in the remotest of the villages in AP to reach out to the underprivileged.

This year, for the PWD’s already employed in the

Mehul Choksi, Chairman company, special events like competitions and picnics are being organized on the occasion of World Disabled Day on December 3, 2009.

Gitanjali has also recently taken steps to strengthen its initiatives on the Corporate Social Responsibility front. The company has already been associated in different ways with various projects for the upliftment of the underprivileged, and now aims to further expand and ensure enhanced co-ordination by establishing a special CSR team within the HR Department.

Mehul Choksi, CMD, Gitanjali Group said, “We are aware of our responsibilities to society at large and are committed to helping the underprivileged and people with disabilities. As the gems and jewellery manufacturing processes offer scope for employment of PWDs, we have taken definite steps to recruit them, and plan to increase this in the future. We are proud that our pioneering efforts have been recognized by the government. Let us all jointly endeavour to employ at least 5 percent of the total workforce of the gem and jewellery industry through this initiative.”

Gitanjali Gems (GGL) is an India based integrated diamond and jewellery manufacturer and retailer established in 1966. The company`s activities are spread across the entire value chain from sourcing and processing rough diamonds to manufacturing, branding and retailing gold and diamond jewellery.

UNITED BANK OF INDIA’S IPO

Last Chance to Buy a PSB at Less Than Book Value

When it comes to banking stocks, price-to-book-value is the crucial metric, often more important than price-to-earnings. SBI trades at a P/BV of 2.55 and PNB at 2.20. Now here comes the last chance to buy into a public sector bank at book value or less than book value. Well, not the last chance exactly, but the last but one. When United Bank of India completes its IPO in January 2010, the only unlisted PSB would be Punjab & Sind Bank. If United Bank goes ahead with the tentative price of Rs. 72.71 per share, it would amount to a highly attractive P/BV of 0.7% for subscribers. This should make the IPO cruise through even amidst these troubling times that have seen many IPOs biting the dust, some during the issue, some on the listing day. If it pulls through, it will definitely be a feather in the cap for Chairman & Managing Director SC Gupta who is set to retire on February 2010. once award-winning bank for its support for farmers, self-help groups (SHGs), rural job creation, and NREG, Kolkatabased United Bank of India will be tested this year with major challenges like capital restructuring, initial public offer (IPO), non-performing asset (NPA) sale, a major recruitment drive, and a still-toimprove capital adequacy ratio (CAR). Under Chairman & Managing Director SC Gupta, this North-East focused bank has introduced policies like personalized biometric smart cards for farmers, and is taking a leadership role during local crises like the recent Aila hit. Seasonal Magazine checks the strategies of United Bank of India through an interview with SC Gupta who is qualified in banking, law, & engineering:

A

Seasonal Magazine: Why can’t United Bank of India go for its IPO with the current EPS and book value? Why do you need to reduce your capital base to adjust at these figures?

SC Gupta: United Bank of India is in a peculiar situation in respect of its capital structure. While various other banks in the Industry had adjusted major portion of their losses against the Capital, thereby bringing down their capital to

manageable and serviceable size, our Bank did not set off the accumulated losses amounting to Rs 1434 crore as on 31.3.1997 against capital and continued to adjust the accumulated losses from profit over the years 1997-2005 totaling to Rs 1156 crore. Thereafter, on a request made by the Bank, the Government of India allowed writing off the reduced accumulated loss of Rs 278 crore against the capital during 2005-06 bringing down the equity capital to Rs 1532 crore as on 31.3.2006. It is very clear that with such a bloated size of capital the Bank cannot go for an IPO, since the current EPS and book value of share with such large capital base would not be attractive to the investors. After the restructuring of capital , as approved by government, our equity capital would reduce to Rs 266 crore which will be comparable with other banks in the industry and which would enable us to tap the Capital Market at a suitable time.

Seasonal Magazine: Why couldn’t United Bank of India meet the mandatory norm of 40% of Adjusted Net Bank Credit (ANBC) to priority sector last year?

SC Gupta: As on March 2009, priority sector advances of the Bank stood at 41.8% of ANBC which was above the national target of 40%. Our

priority sector advances grew by 17.3 percent during 2008-09 to reach Rs 11757 crores as at the end of March 2009. Lending to agriculture , MSEs and other priority sectors has been our focus area.

Seasonal Magazine: Are you worried that World Bank pre-conditions will delay Government’s capital infusion to shore up your CAR? SC Gupta: The Capital Adequacy Ratio (CAR) of the Bank as on 31st March 2009 stood at 13.28%.

We do not apprehend delay in Government’s capital infusion in the banking system as a whole. The Government has permitted our Bank to restructure the Capital and has also subscribed to the PNCPS issued by the Bank. It is expected that there will be further capital infusion by the Government. Apart from this we are also planning to come out with our IPO during the current financial year. Moreover, we have the option of raising fresh Tier II capital against the headroom available if necessary. These together with our internal generations will provide us sufficient capital to maintain at least 12% CAR .

Seasonal Magazine: United Bank of India is reportedly contemplating auctions for 100 NPAs worth Rs 300 crore. With ARCs still not eager to lap up NPAs, what will be your strategy?

SC Gupta: Recovery of NPAs is one of our top priorities. We are taking all possible steps in this direction. Organising recovery camps on a regular

basis, personal follow-up of large NPAs by the executives of the Bank, making compromise settlement as per the extant guidelines , resorting to legal actions including using SARFAESI Act are some of the initiatives taken by the Bank for recovery of NPAs. As a result of these initiatives the Bank has been able to achieve a gross reduction of NPAs to the extent of Rs 552 crore during 2008-09. In addition, the Bank has been exploring the possibilities of selling NPAs to the ARCs. We have placed NPAs worth Rs 300 crore to the ARCs and after examination of the offers received thereagainst the Bank finally accepted and disposed of NPAs worth Rs 86 crore during the current financial year.

The Bank has further placed NPAs worth Rs 162 crore to the ARCs which is under examination at their end. Decisions will be taken in this regard on receipt of offers from the ARCs against such amount.

Seasonal Magazine: United Bank of India has announced recruiting 1500 new employees this fiscal. How do you rationalize this move in a difficult year, even while being unable to impose a pay-per-performance wage structure as in private banks?

SC Gupta: Every vibrant organization needs proper succession planning. Process of recruitment of 1000 officers and 500 clerks has been commenced by the Bank to fill up a part of the huge vacancies which will be created out of mass retirement during next three years. Secondly induction of tech-savvy new

generation of workforce and talent pool would rejuvenate our existing strong and dedicated workforce and would add more value to the organisation. Thirdly our business is thriving in leaps and bounds . To match our growth we are in recruitment spree. The “difficult year” should not be a deterrent to such recruitment. In fact, the banking sector has emerged as the biggest job generator in the current fiscal. Lastly, this recruitment would also be cost effective in the sense that the wage bill of the incoming workforce would be much less than that of retiring employees who have reached the highest pay scale. Our recruitment programme is well planned and need based.

Seasonal Magazine: Serious concerns have recently been raised about PSBs resorting to mass restructuring of loans to temporarily whitewash NPAs from the balance sheet. Won’t they come back to haunt you in the next balance sheet? What is your take on this?

SC Gupta: Restructuring of loan is an effective and established tool to support the borrowers at the time of their temporary crisis. To overcome the present economic turmoil the Reserve Bank of India has come out with specific guidelines on this score. To support the affected borrowers from the impact of sagging economy banks have gone for restructuring of loan accounts as per the guidelines of RBI. As United Bank of India has restructured eligible accounts having assets and considering genuine needs of the customers and viability of the projects to overcome the temporary crisis, this should not pose problems in future.

Seasonal Magazine: How will you counter the allegation that PSB’s performance is largly driven by government compensating for non-performing agricultural loans, as well as large government funds like the NREG switching to PSBs for disbursement, thereby forcing millions of hitherto unbanked to open accounts?

SC Gupta: Government’s relief measures to farmers by way of Agricultural Debt Waiver and Debt Relief Scheme 2008 is a boon to those farmers who have been struggling to repay their loans. This has no doubt created momentum in the recovery front of banks’ agricultural loans. For United Bank of India the proportion of NPAs out of the eligible amount is

small. Further ,we have been extending fresh loan to the eligible farmers benefited under the scheme.

For our Bank the total amount eligible for reimbursement from the government is only a small part of our vast advance portfolio and has negligible impact on the overall performance of the Bank. NREG is a reliable relief measure and a useful tool to bring into the main stream sections of population that feel alienated because of serious underdevelopment. United Banks of India's services to this segment is a continuous process. We have adapted our strategies to tap the opportunities and meet the challenges. One of our avowed goal is to serve the unbanked areas and the down-trodden people to translate the growth into reduction of poverty- i.e., the growth to which the poor contribute and from which the poor also benefit. Disbursement of government fund may be an opportunity to reach such people but that’s not the end. In the banking system people’s participation in large number can be ensured by building relationship and promoting banking habit for inclusive growth. Our performance is propelled by our strategies and staff commitment.

CATCH-22 IN LIFE INSURANCE:

WHO WILL PERISH, WHO WILL SURVIVE?

SEASONAL MAGAZINE

The Swarup Committee report and the emerging bancassurance model have the potential to throw the country’s 22 life insurance companies into a limbo. The Catch-22 style stalemate will be due to IRDA’s and the life insurers’ ambition to curb the hefty agents’ commission, but with the 3 million agents swift with their loud protest, somebody will have to backtrack, most

Shri T S. Vijayan Life Insurance Corporation of India

probably at the investing public’s expense. The proposal was originally mooted to end the entry load, much like in mutual funds.

If the proposal is implemented the agents will have to rely on advisory charges, and not commissions. Though it is more professional and the worldwide standard, even many life insurers are not keen as they anticipate the

Mr. Ajay Srinivasan Birla Sun Life Insurance

army of agents getting demoralized. In a country where around 60% of the policies never reach maturity, there is no doubt

Sri V. Vaidyanathan ICICI Prudential Life Insurance Co. Ltd

Mr. Nitin Chopra Bharti AXA Life Insurance Company Ltd.

that this is a complex scenario. The issue again opens the wound of how adaptable are world-class models in our domestic scenario. It would be an unbelievably costly and time-consuming affair recreating such an army.

With one-third of the life

insurers following the new bancassurance model, that eliminates the ‘one bank, multiple insurers’ model, it is additional pressure on all life insurers including LIC to perform. Who will survive this round? Who will be finally able to transform life insurance from a hard-sell to

something desired by the customer – a high growth investment plus life insurance instrument?

Seasonal Magazine finds out.

Mr. Harpal S. Karlcut Canara HSBC Oriental Bank of Commerce Life Insurance Company Ltd.

Shri Rajesh Sud Max New York Life Insurance Co. Ltd

(Seasonal Magazine will also interview high, medium, low performing agents, MPs from Opposition, high net worth and medium level investors etc.)

ING Vysya Life Insurance Company Ltd.

Mr. G.V. Nageswara Rao IDBI Fortis Life Insurance Company Ltd.,

Mr. Rajesh Relan Met Life India Insurance Company Ltd.

MR. Rajiv Jamkhedkar AEGON Religare Life Insurance Company

Mr. T. R. Ramachandran Aviva Life Insurance Company

Mr Paresh Parasnis HDFC Standard Life Insurance Co. Ltd

SEASONAL MAGAZINE

Mr.Kamesh Goyal Bajaj Allianz Life Insurance

ING Vysya Life Goes On, Despite Parental Problems

Farrokh K Kavarana, Chairman TATA AIG

Once the parentage of ING – arguably one of the largest financial groups in the world – was a blessing for ING Vysya Life. But with the global ING hiving off its insurance business so as to better focus on banking, ING Vysya Life’s future is a bit hazy. But it powers on nevertheless with innovations like ‘Pick UR Advisor’.

Mr.Kshitij Jain ING Vysya Life Insurance Company Ltd.

AIG Woes Not Enough to Down Tata AIG Life The global economic meltdown might have claimed a victim in Tata AIG due to the American partner’s financial woes and controversies. Instead, Tata AIG Life has put up a blistering performance during last quarter, becoming the only one among Top-10 private insurers to register growth in the key metric of Annual Premium Equivalent (APE).

SEASONAL MAGAZINE

Metlife Insurance Continues Long Game Metlife may be USA’s No.1 life insurer, but in India it has always lagged behind aggressive peers.

Though sales is down this quarter too, Metlife is kick-starting new initiatives on the CSR front like the recent Sesame Workshop. The India plan is obviously a long focussed one for Metlife.

Mr. Rajesh Relan Met Life India Insurance Company Ltd.

ICICI Prudential Life Unsteady at No.2 Position ICICI Prudential Life Insurance had put up a mighty fight to emerge as the answer to the question – “After LIC, who?” But with SBI Life recently overtaking it, everything depends on CEO Vaidyanathan’s promise to grow the business by 45% in H2.

Sri V. Vaidyanathan ICICI Prudential Life Insurance Co. Ltd

Business Down, Profit Up At Bajaj Allianz Life

Mr.Kamesh Goyal Bajaj Allianz Life Insurance

SEASONAL MAGAZINE

Bajaj Allianz Life Insurance has upped profits almost solely on cost cuts, but is hoping that new business would improve in H2 due to its innovation in policy riders, and trendy advertising campaigns like the recent ‘Groovy Kids’.

and partnership distribution for our existing range of products.

We do not plan to sell our existing range of products through distribution channels used for Max Vijay because these products require customized solutions which can be best achieved through face to face discussion.

The 23rd Life Insurer will shortly arrive on the scene, with a couple more pending by 09-10 end. But with sales not looking up for private life insurers in the first half of this year, how will the situation work out in H2?

Innovative Products from

Max New York Life Seasonal Magazine in conversation with Rajesh Sud, MD & CEO: You have recently launched the ‘Secure Dreams’ project on the Universal Life platform. What is this scheme and what makes this platform unique?

Universal Life is a Life insurance plan where premiums are deposited into a fund and charges for insurance and other expenses are deducted from these funds. A universal life plan addresses the twin factors of the investment risk being borne by the policyholder in the unit linked solutions and lack of transparency and flexibility in traditional products. A minimum guaranteed interest rate applicable throughout the term of the policy would serve as a viable alternative for a consumer with a conservative risk profile. “Max New York Life Secure Dreams, is the only Universal Life product in the Indian market which offers the best of Traditional as well as Unit Linked Life insurance Products.

Max New York Life has recently won an international award for Vijay. Is this encouraging you to pursue Vijay’s buying model instead of the conventional selling model, across your portfolio of products?

It is a major recognition for Max Vijay to be recognized as the most noteworthy innovation of the year in whole of Asia.

‘MAX VIJAY’, revolutionized the way insurance is procured, sold and serviced. This product has been designed specifically for the underserved segment of the society to meet the unique challenges of unpredictability in life and their income flow.

Agency distribution will continue to be our core distribution channel supported by other channels such as bancassurance

Companies like Max New York Life who have always emphasised on need based selling will continue to record high growth because we will offer solutions to the financial protection and the long-term savings needs of individuals and households that will not change with economic conditions and competition. In H2 FY10, things are expected to look up.

With a stable government at the centre, stabile economic scenario, and stock markets crossing the 17000 mark, there is a sense of optimism in the air. The job markets are also looking up with various corporate announcing their recruitment plans.

With Swarup Committee Report likely to be scrapped, is it a sigh of relief or dismay at your operations? From a customers’ standpoint, wasn’t the Committee’s recommendations good?

The Committee on Investor Awareness and Protection headed

by Mr. D Swarup was set up with the objective of setting up a regulatory system with minimum common standards for financial advisors who engage with retail investors and to suggest an integrated approach to financial education. The idea was to come up with measures to safeguard the interest of the customer by eliminating misselling and providing greater transparency. The committee has taken extreme view points on certain things. In a country like ours, where only 4 per cent population is financially secure we need to appreciate the role of distributors.

How do you plan to better your track record in settling claims, so that actions like moving against the insurance ombudsman are avoided?

Life insurance is the business of settling claims. Our vision is ‘fastest, fairest and friendliest’ when it comes to settling claims.

We have put in place UCHIT - A system that enables and enhances the existing service levels in the industry and paperless claims evaluation. It facilitates in reducing the manual touch points between General Offices/Customer Services and the Home Office and provides instant status to our servicing units. Performance of claim settlement is primarily measured by OCR or the outstanding claims ratio, amongst others, at the end of the financial year. In the last financial year, with an average processing time of 6 days with outstanding claims ratio of just 2.19% in year end, we were one of the best in the industry. We continue to set higher benchmarks for us to improve our claims management and provide superior experience to our customers.

hile the article in reference mentions that IFCI is “groping in darkness” and “still in doldrums”, we would like to highlight that through effective resolution of NPAs enhanced focus on its subsidiaries and chalking out revival

W

IFCI Replies to “Surgery, Not Medicines, for IFCI” IFCI’s Senior Associate Vice President, Pooja S Mahajan, replies to the story on IFCI published in Seasonal Magazine’s last issue:

strategy IFCI has achieved an undeniable turnaround, from being an organization with losses to the tune of Rs 74 crore (2005-06) into a profitable entity that has posted profits for a period of three consecutive years i.e Rs 870 crore (2006-07), Rs 1022 crore (200708) and Rs 658 crore (2008-09). From being an institution that was on the brink of closure, IFCI has not only revived itself but firmly established itself as a resurgent and healthy entity.

Along with the profits, there are other crucial numbers, which are indicative of a marked improvement in the organisation’s financial health. At the end of Financial Year 2008-09, the Net Owned Funds (NOF) had improved to Rs 2735 crore from Rs 2247 crore in the previous year. The Net Interest Margin (NIM) also improved primarily on the strength of disbursements at higher rates. The year ended March 2009 witnessed significant growth in

sanctions and disbursements which stood at Rs 4,105 crore and Rs 3351 crore respectively compared to Rs 2550 crore and Rs 2280 crore respectively in the previous year. An aggressive NPA resolution strategy has brought the net NPAs down to an insignificant level of less than 1 per cent. The capital adequacy ratio (CAR) which stood at 40% until 2006-07 has improved drastically and in March 2009 stood at 19.7% which is well over the statutory norms of 9%.

While the article in discussion mentions that the profits have “halved”, a closer look at the numbers shows that the current year’s profit of Rs 658 crore is comparable with previous years profit of Rs 1022 crore, after excluding income tax refund (2007-08: Rs 132 crore) and profit on sale of shares (2007-08: 651 crore) During the current financial year, we have raised over Rs 1500 crore from the markets. The very ability of the institution to raise money underscores the credibility it now enjoys in the financial system as a consequence of the aforesaid results.

It will also be pertinent to mention that a resurgent IFCI is also attracting the best in terms of human capital and resources from across the financial landscape. Besides, seasoned professionals, the organization has only recently recruited graduates from India’s top B-Schools like IIM (Ahmedabad), SP Jain Institute (Mumbai), Jamnalal Bajaj Institute of Management Studies (Mumbai), Xavier’s Institute of Management (Bhubaneswar), Narsee Monjee Institute of Management Studies (Mumbai), Management Development Institute (Gurgaon) etc.

Today, besides project specific term lending, IFCI caters to the diverse needs of Indian and Overseas organizations by providing a host of Corporate Advisory Services in the areas of Project Appraisal, Risk Analysis, Credit Syndication,, Placement of Debt and Equity, Corporate Restructuring, Infrastructure and Legal Advisory.

Through a host of subsidiaries and associate organizations, IFCI has emerged as a major player providing comprehensive financial solutions ranging from Merchant Banking, Insurance Broking, Venture Capital, Depository Services, Factoring Services, Education, Real Estate, Asset Reconstruction and Securitization.

Finance Minister Dedicates Union Bank’s Technology Banking in RRBs to the Nation New Delhi, 18th November 2009: Hon’ble Finance Minister, Shri Pranab Mukherjee today dedicated the full networking of branches under Core Banking Solution of 2 RRBs of Union Bank of India, namely Rewa Siddhi Gramin Bank in the State of Madhya Pradesh and Kashi Gomti Samyut Gramin Bank in the State of Uttar Pradesh. Networking of 100% of branches numbering 447 in these two RRBs is the first of its kind among RRBs in the country. The roll out was accomplished by the Bank in a record time of 6 months.

Core Banking solution brings the best of Banking technology of the world to rural India. It is appropriate to recall here that Finance Minister, Shri Pranab Mukherjee was the Minister for Revenue & Banking when RRBs started functioning. It is therefore most significant that this great leap in bridging the digital divide between rural and urban India was launched through his hands.

RRBs Serves a Vision for Rural India: RRBs were established under the RRB Act in 1976 with the objective of ensuring sufficient institutional credit to agriculture and other rural sectors. They started the development process on the Gandhi Jayanti day on 2nd October 1975. Union Banks RRBs started functioning from 6th January 1976. In the recent past, Reserve Bank of India initiated a number of measures to consolidate and strengthen RRBs in its financial strength and operational capabilities. Upgrading RRBs in technology was a part of the change signaled by RBI, which the Bank was quick to respond through the implementation of Core banking solution.

Core Banking in Bridging the Digital Divide: Core banking will enable RRBs to provide any time any where banking to the customers of rural India, a benefit which was hitherto available only in Metro Urban locations. Our RRBs will hereafter become more customer friendly as core banking will free branch officials of back office work and help them focus more on reaching out to customers and fulfill their needs better. ATMs which have gained extraordinary acceptance among the rural population will now become a real time facility by directly linking their accounts.

Core Banking will enable online payment on behalf of Government like NREG payments, thus bringing

transparency and convenience in implementing Government programmes.

Rural India gets Connected to Electronic Remittance Facility: Union Bank also announced introduction of National Electronic Funds Transfer(NEFT) facility to customers of RRBs of the 2 Banks, yet another first in the technology initiative in the industry. NEFT enables instant transfer of funds between any two accounts of any bank across the country. In effect, customers of the two RRBs will now be able to remit monies across 60,835 bank branches in the country online at a nominal cost. NEFT enables transfer of even small sums affordable by rural masses. NEFT which is a recent benefit available to even Metro customer has traveled to the rural branches, signifying the rapid transfer of technology to rural markets.

Financial Inclusion Through BioMetric Cards: The Finance Minister also handed over Union Bank’s 2 millionth biometric cards to the migrant laborers of Delhi. Biometric cards bring doorstep banking to vulnerable sections of the Society like migrant workers who were hitherto finding it uneconomic and inconvenient to benefit from branch banking. Biometric cards will now provide a safe and secure environment to manage their hard earned money in a convenient and inexpensive way. Biometric cards are supported by Business Correspondent who reach out to the poor people at their place of convenience and extend banking facility linked to a ‘no frills account’. The Bank has extended the benefit of biometric cards to 2 million poor people both in rural and urban areas like the hawkers in Mumbai and NREGA beneficiaries in rural pockets. It has made financial inclusion a reality and the Bank is committed to scale up its initiative in financial inclusion through this model. The Core Banking Solution of RRBs are backed by best of security features for safe and secure banking. It is supported by a data center in Mumbai and a disaster site at Bangalore. Thus, a full fledged infrastructure supports the RRBs in this initiative. Today’s initiative in RRBs launched by the Finance Minister is a landmark in its journey over three decades in empowering rural India. It is a manifestation of Union Banks commitment to transform rural India on our 90th anniversary year.

Perfect Samosa Samosas are among the most popular Indian snacks.

Here is the samosa recipe for you.

Serves: 4 Cooking time (approx.): 20 minutes + to deep fry Style: Indian Vegetarian For the samosa stuffing: ½ cup(s) shelled green peas 2 tablespoon(s) oil 1 teaspoon(s) cumin seeds 2 green chillies chopped fine 1 teaspoon(s) finely chopped ginger 2 large potato(es) peeled and cubed ½ teaspoon(s) red chilli powder salt to taste ½ teaspoon(s) dry mango powder (amchoor) or lemon juice ½ teaspoon(s) garam masala (hot spice mix) 2 tablespoons chopped coriander leaves For the samosa pastry shell: 1 cup(s) plain flour (maida) ½ teaspoon(s) baking soda ½ teaspoon(s) baking powder ½ teaspoon(s) carom seeds (optional) 3 tablespoons ghee (clarified butter) / oil salt to taste water as required for kneading oil to deep fry

red chilli powder, salt, dry mango powder and garam masala powder. Toss well. Sprinkle some water. Cover and cook on low-medium heat for about 10 minutes or till the potatoes are cooked. Mix in the cooked green peas and put off the heat. Let cool. Mix in the coriander leaves. .

To make the samosa pastry shell, sieve together the plain flour, baking soda, baking powder and salt. Mix in the carom seeds and ghee / oil. Add water little by little whilst mixing with fingers to make a stiff dough, the consistency of a shortcrust pastry. Keep covered with a damp cloth for about 15 minutes.

Divide the dough into 16 equal balls. Apply a little dry flour to each ball when rolling into a circle of 4? diameter. Cut each circle into two and lightly dampen the edges of each semicircle with water. Shape each semicircle onto a cone by pressing the cut edges together. Place a spoonful of the potato-pea filling into the cone and seal the edges well (apply some water on the edges if they do not seal well). Repeat this procedure with the rest of the balls. Deep fry in medium-hot oil in batches on medium flame till crisp and golden brown.

Remove onto a paper towel.

Cook the peas in boiling salted water for about 10 minute(s) or till soft. Refresh in cold water and drain well.

Heat the oil in a pan. Toss in the cumin seeds and let them crackle. Add the green chillies and ginger. Fry briefly. Add the potato cubes and mix well. Add the

TIPS:To save on time, potatoes can be pressure cooked and then cubed and tossed in spices.

Carom seeds are also called as omum, caraway seeds, thyme seeds and ajwain.

Chillies can be increased or decreased as desired.

The samosa pastry shell can be made with plain flour without the baking soda and baking powder.

Self raising flour can be used instead of plain flour, in which case omit the baking soda and baking powder.

Serve hot with: Green Chutney (Hari Chutney) / Tomato ketchup.

Health

Cancer Calling, With Per Second Billing

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Can cell phones cause cancer? The at least 10year old riddle is getting solved, with evidence mounting that the chances for brain tumours are higher in heavy and long-time mobile phone users, that too on the frequently used side of the head. No, Bluetooth isn’t the solution.

Switch to old-fashioned corded headsets. And keep the phone out of your pockets. Per second billing might also help, if you value your money. n the year since a U.S. cancer researcher's warning drew wide attention, more evidence is emerging that long-term cell phone use is associated with cancer, but there's still not a definitive explanation or proof of cause and effect.

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Last summer, Dr. Ronald Herberman, then director of the University of Pittsburgh Cancer Institute, issued a warning to about 3,000 faculty and staff, listing steps

to avoid harmful electromagnetic radiation from cell phones. This included keeping the phone away from the body as much as possible and not allowing children to use cell phones except in emergencies.

"Since I put out that precautionary advisory in July of last year, I believe there is more indication for concern, particularly among children," he recently said.

A much-anticipated but unreleased report from the World Health Organization on a decade-long investigation called Interphone will show a "significantly increased risk" of some brain tumors "related to use of mobile phones for a period of 10 years or more," the London Daily Telegraph reported in late October. The study will be published before the end of the year, the newspaper said.

Supporting that conclusion, a recent study in the Journal of Clinical Oncology that looked at 23 case-control

Studies that looked at people who had used cell phones 10 years or longer tended to find the strongest risk of tumors. Researchers found that cell phone users had a 10 percent to 30 percent higher risk than people who barely, if ever, used this technology.

A telling feature of the findings in the stronger studies was that the side of the head against which people held their cell phones was highly correlated with the location of tumors, said Joel Moskowitz, director of the Center for Family and Community Health at the University of California, Berkeley.

Skeptics criticize this as "recall bias." People may be more likely to think about using a cell phone on the same side of the head as the tumor because they're asked about it in that context.

Moskowitz said he was surprised to see that a subgroup of studies found this increased risk of tumors.

The poorer-quality studies actually found that cell phones had a protective quality -- that the phones helped stave off tumors -- but could not offer an explanation for why, he said. Many of these weaker studies were also funded by telecommunications industry groups, he said.

Interphone, for example, receives some funding from the GSM Association, which represents the worldwide mobile communications industry, and the Mobile Manufacturers Forum, an international association of telecommunications equipment manufacturers.

Research that has been released by Interphone has major flaws, Moskowitz said. Some shortcomings include poor participation in the control group and a definition of "regular cell phone use" that included people who use their phones once a week for six months.

But the scope of the project is significant: Nearly 13,000 people were questioned between 2000 and 2004 in 13 countries about their cellular phone use, looking for a link to brain cancers and salivary gland tumors.

A major problem with the existing research on the possible link between cell phones and cancer is that the studies are retrospective. That means researchers compare the cell phone use of people who have cancer against that of people who don't have the condition.

People who have tumors may be more inclined to exaggerate or misremember information about their cell phone usage.

A stronger approach would be to follow young people

who are just starting out with cell phones for a generation, asking them about their cell phone use over time and seeing what portion gets cancer, said Dr. William Curry, neurosurgeon at Massachusetts General Hospital.

Moreover, seven of the eight "strongest" studies in Moskowitz's group's analysis came from the same researcher: oncologist Dr. Lennart Hardell in Sweden.

Critics say there could be other factors that make Sweden different in terms of cancer susceptibility and cell phone use. The causal link has not been proved.

Although the study is a thorough meta-analysis, it's not the final word on the issue, Curry said.

"I don't think this study would change how I counsel my patients," he said. "There's not enough data to say that you should be worried."

Dr. Marc Chamberlain, neuro-oncologist at Seattle Cancer Care Alliance, isn't worried either. He said the evidence doesn't support changing cell phone habits and tells patients who ask about the subject that there's no credible link.

Oncologists who are skeptical of the cancer connection argue that no one can explain the mechanism by which cell phones would induce tumors.

But Moskowitz counters that the tobacco industry used this reasoning for many years as evidence built that cigarettes had a link to lung cancer.

Still, even Herberman agrees with skeptics that the electromagnetic radiation given off by cell phones is too weak to cause direct DNA damage. There are, however, other factors that can contribute to the development of cancer that don't cause direct DNA damage and mutation, he said.

Moskowitz recommends getting a corded headset and keeping the phone away from your body. Even holding the phone a few inches from your ear makes a big difference in terms of exposure, he said.

Bluetooth devices, which produce much less energy than cell phones, may still be problematic if people keep them on next to their heads all day, as the length of exposure is also relevant, he said.

Moskowitz called for cancer organizations and government agencies to assess ways to reduce potential harms from cell phones. One expert has even suggested issuing cell phones that cannot be used without a corded headset, Moskowitz said.

Another positive measure to take is to get a cell phone with a low specific absorption rate, or SAR, which has to do with how much radio frequency energy gets absorbed by your body.

"There may be some easy, fairly inexpensive ways to change the way people use them," he said.

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studies found that the research with the more scientifically rigorous methodologies suggested cell phones and tumors are linked. The eight strongest studies made sure the investigators did not know which participants had tumors when they conducted the interviews about cell phone use, and they did not receive funding from industry groups.

Health

Yoga improves heart health,

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confirm Indian researchers

In the study, which will be published in a forthcoming issue of the International Journal of Medical Engineering and Informatics, heart rate variability - a sign of a healthy heart - has been shown to be higher in yoga practitioners than in nonpractitioners.

The autonomic nervous system regulates the heart rate through two routes - the sympathetic and parasympathetic nervous systems. The former causes

the heart rate to rise, while, the parasympathetic slows it. When working well together, the two ensure that the heart rate is steady but ready to respond to changes caused by eating, the fight or flight response, or arousal.

The ongoing variation of heart rate is known as heart rate variability (HRV), which refers to the beat-to-beat changes in heart rate. In healthy individuals HRV is high whereas cardiac abnormalities lead to a low HRV. To reach the conclusion, Ramesh Kumar Sunkaria, Vinod Kumar, and Suresh Chandra Saxena of the Electrical Engineering Department, at the Indian Institute of Technology in Roorkee, have evaluated two small groups of men in order to see whether yoga practitioners can improve heart health.

Anecdotal evidence would suggest that yoga practice may improve health through breathing exercises, stretching, postures, relaxation, and meditation.

The team analyzed the HRV "spectra" of the electrocardiograms (ECG) of forty two healthy male volunteers who are non-yogic practitioners, and forty two who are experienced practitioners, all volunteers were aged between 18 and 48 years.

The spectral analysis of HRV is, the team says, an important tool in exploring heart health and the mechanisms of heart rate regulation. The power represented by various spectral bands in short-term HRV are indicative of how well the heart responds to changes in the body controlled by the sympathetic and the parasympathetic nervous systems.

The team explains that very low frequency (VLF) variations in the spectra are linked to the body's internal temperature control. Low frequency peaks are associated with the sympathetic control and high frequency with parasympathetic control.

The team concludes that in their preliminary study of 84 volunteers, there is strengthening of parasympathetic (vagal) control in subjects who regularly practice yoga, which is indicative of better autonomic control over heart rate and so a healthier heart.

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esearchers at the Indian Institute of Technology in Roorkee, in Uttrakhand, India, have confirmed that yoga keeps heart healthy.

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Gadgets

Kindle to Take Print Media By Storm?

ike many other forms of technology, the Kindle has changed the game for book publishers and media outlets. The evolution will likely continue, with book-selling companies getting their own e-readers, publishers and media outlets adjusting to the change and new technologies emerging.

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Amazon.com is advertising the Kindle as the No. 1 "best- selling, most wished for and most gifted item" on its Web site. The Kindle, which was created about three years ago, did face some backlash at its outset from people who preferred paper books and feared straining their eyes. Since then, the e-reader has become more of a mainstay especially for travelers and commuters.

Some are worried that these e-readers and the Internet will markedly change the newspaper, magazine and book industries, if not make them extinct altogether. "Newspapers, books and DVDs will eventually become obsolete," says Gerard Klingman, head of Klingman & Associates.

Ronald Roge, chief executive officer of R.W. Roge & Co., agrees. "It is really an instrument of creative destruction. Out with the old books and newspapers and in with the new e-ink," he says.

Despite these notions of newspapers and magazines disappearing because a technological competitor came to town, these companies are holding their own. For instance, The McClatchy Company, the third-largest U.S. newspaper company, had $23.6 million in net income for the third quarter, up from $4.2 million in the third quarter of 2008. The Kindle hasn't put these media outlets or book publishing companies out of business yet; instead, many of these companies are beginning to embrace producing content in a variety of ways, including for the e-readers.

Newspapers have a love-hate relationship with the Kindle as the larger, broadsheet-readable version of the e-reader isn't as popular as its smaller counterpart, says Seth Jayson, analyst at The Motley Fool. Without the broadsheet style, the newspaper looks very different than its print sister and it doesn't offer all of a physical paper's design aesthetics.

These e-readers also can't run advertisements in the same way that they can run online, Jayson adds.

For book publishing companies, e-readers present another way to sell their products and a way to get things to print faster, as an e-book can be distributed faster than a paper copy.

E-readers have been gaining traction because they're

easier to maneuver and carry than a book or broadsheet newspaper. Roge was sold on the Kindle after recently taking a long flight and struggling to manage 12 magazines and two books on the plane.

He likes the e-reader because of the vast number of newspapers and magazines available on the Kindle, which means no more trips to the "out of town" newspaper stand, and "you can even close your eyes, plug in your headset and it will read the book or article to you."

The Kindle isn't just affecting newspapers and your favorite books; it's also reaching into your kid's backpack. The Kindle Store has more than 30,000 textbooks and case studies. There's a pilot program at seven universities and colleges this school year, with more than 600 students and professors participating. Arizona State University, UVA's Darden School of Business, Reed College, Pace University, Case Western Reserve University, University of Washington and Princeton University are participating in the pilot program with classes in political science, business and biology, among other subjects.

Mickey Cargile, managing partner at Cargile Investments, notes that the e-book revolution is continuing through an Apple iPhone application, called Books.app, which is an e-reader. He foresees the iPhone application really taking off, as the iPhone is already popular.

Barnes & Noble launched its own e-reader called the Nook last month. "Barnes & Noble feels like they have to get into this market before they become irrelevant," Jayson says.

Jayson recommends buying Amazon stock based on the Kindle's success. He says the Kindle has made him change his mind about the stock, which he otherwise says is expensive. Amazon is trading at about $129. Because of the Kindle, Jayson classifies Amazon as "a good investment even when it's expensive."

The real future of book and media could be in Microsoft's Xbox, Jayson says. Though he says the gaming system was a "money burner" for Microsoft for a while, Twitter, Facebook and Netflix are now available on it. Having Netflix through your Xbox is easier than getting videos streamed on your television or in the mail, Jayson says. "Game consoles will be the media hub of the future," he says. If you believe that's the case, buy Microsoft.

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"One need only see what transpired with the iPod and its impact on CD purchases as well as other historical transformations such as digitizing records, Internet sales, online media, et cetera, for preexisting protocol," says Matt Lloyd, chief investment strategist of Advisors Asset Management. The Kindle's readability has recently improved and its priced has been lowered. Forrester Research, a technology analysis firm, recently projected that 1.2 million digital readers would be sold in the U.S. in the fourth quarter. That would bring total sales for this year to about 3 million ereaders.

STRANGE NEWS

My year of living without money I

s it possible to live without spending any cash whatsoever? After becoming disillusioned with consumer society, one man decided to give it a try

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The morning I finally decided to give up using cash, the whole world changed. It was the same day news broke about the banks' misbehaviour in the sub-prime mortgage market, so when I began telling people of my plans, they assumed it was in preparation for some sort of apocalyptic financial meltdown. However, having long viewed credit as a debit against future generations, I was infinitely more worried about what George Monbiot called the "nature crunch". Nature, unfortunately, doesn't do bailouts.

I suppose the seeds of my decision to give up money – not just cash but any form of monetary credit – were sown seven years ago, in my final semester of a business and economics degree in Ireland, when I stumbled upon a DVD about Gandhi. He said we should "be the change we want to see in the world". Trouble was, I hadn't the faintest idea what change I wanted to be back then. I spent the next five years managing organic food

companies, but by 2007, I realised that even "ethical business" would never be quite enough. The organic food industry, while a massive stepping stone to more ecological living, was rife with some of the same environmental flaws as the conventional system it was trying to usurp – excess plastic packaging, massive food miles, big businesses buying up little ones.

My eureka moment came during an afternoon's philosophising with a mate. We were chatting about global issues such as sweatshops, environmental destruction, factory farms, animal testing labs, wars over resources, when I realised I was looking at the world the wrong way – like a western doctor looks at a patient, focusing on symptoms more than root causes. Instead, I decided to attempt what I awkwardly term "social homeopathy".

I believe the key reason for so many problems in the world today is the fact we no longer have to see directly the repercussions of our actions. The degrees of separation between the consumer and the consumed have increased so much that people are completely unaware of the levels of destruction and suffering

involved in the production of the food and other "stuff" we buy. The tool that has enabled this disconnection is money.

If we grew our own food, we wouldn't waste a third of it as we do today. If we made our own tables and chairs, we wouldn't throw them out the moment we changed the interior decor. If we had to clean our own drinking water, we wouldn't waste it so freely.

As long as money exists, these symptoms will surely persist. So I decided, last November, to give it up, for one year initially, and reconnect directly with the things I use and consume.

The first step in the process was to find a form of sustainable shelter. For this I turned to the amazing

I believe the key reason for so many problems in the world today is the fact we no longer have to see directly the repercussions of our actions.

Having no means of paying bills, the next challenge was to set this home up to be off-grid. For heating I installed a wood-burner I'd converted from an old gas bottle, using a flue pipe I had salvaged from the skip. I fuelled it using wood from trees we coppiced on the farm, meaning fuel miles became fuel metres.

A local member of the Freeconomy Community (the alternative economy which I founded in 2007), then showed me how to make a "rocket stove" from a couple of old olive oil catering tins that were destined for

landfill. This meant that for the next 12 months, I was going to have to cook outside. I was a touch overwhelmed by the thought of cooking in the snow, rain and northerly winds of a British winter. But, surprisingly, it has become one of the joys of my life.

While feeding the stove with broken-up old vegetable boxes, I would watch the moon rise in winter and the sun set in summer for the time it took to prepare my evening's repast. Birds in the trees around my kitchen became my new iPod, and observing wildlife taught me much more about nature than any documentary I'd seen on the television.

The one thing I did spend money on (about ÂŁ360) before beginning the experiment was a solar panel to supply me with enough electricity for a light, my laptop and my phone (on which I could only receive calls). Solar isn't ideal because of the embodied energy involved, but at the start of what might be a lifelong journey, I couldn't expect everything to be perfect straightaway.

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project Freecycle, through which I located a caravan that someone else didn't want any more. I also needed somewhere to put this new home, so I decided to volunteer three days a week at an organic farm near Bristol in return for a place to park my caravan. Had I equated this in terms of my previous salary, it would be like paying penthouse apartment rent for what was effectively a little tin box. But that was the type of thinking I was now trying to get away from.

And the solar panel has always provided me with light – although in winter my phone and laptop time were severely restricted (frustrating, but only because my expectations were based on having infinite energy at the touch of a button).

The last piece of my off-grid puzzle was a compost toilet. This should really be the symbol of the entire sustainably living movement, in the way the spinning wheel became a symbol of Swadeshi in India.

Representing sanity and a respect for the earth, I made my alternative loo out of old pallets from a nearby hardware store. As I can no longer buy toilet roll, I relieve the local Bristol newsagents of some of the newspapers that fill their bins every day, and use them instead. It's not double-quilted but it quickly seems normal, and I even used a story about myself once . .

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I wash in a river or under a solar shower (better in the summer), and rarely use soap, but if I do I go for homegrown soapwort. For toothpaste I use a mixture of cuttlefish bone, which gets washed up on the UK's shores, and wild fennel seeds.

250 people a three-course meal with full service for free, completely out of waste food and things foraged from the wilds of Bristol. It even includes free beer made from locally grown and foraged ingredients.

The final leg of my food table is bartering – using my skills or any excess food I've produced to secure anything not met by the other three methods. This means I meet people from all walks of life doing what I do, and while many claim that they couldn't – or wouldn't want to – do the same, most seem to understand where I am coming from and resolve to reduce their own consumption wherever they can. When I first said I was going to do this, my parents probably wondered what they should have done differently during my formative years, but now they are right behind it, and may even contemplate joining me one day.

But what I soon realised is that, in a moneyless world, everything takes much more time. Handwashing my clothes in a sink of cold water, using laundry liquid made by boiling up some nuts on my rocket stove, can take two hours, instead of 10 minutes using a washing machine.

Finding stuff in skips – such as the steamer I cook with – takes far longer than popping out to the shops for one, and sorting out the compost toilet is a lot more hassle than organising a free miniflushing it "away".

Food was my only other real necessity: I think of there being four legs to the foodfor-free "table".

Growing your own, which is obviously what I've been doing here on the organic farm (my staples are In fact I'm currently potatoes, beans, kale, festival called the Freeconomy Feast 2009, carrots, salads, root Cycling the 36-mile vegetables, squash, where myself and Fergus Drennan, the BBC's round-trip to Bristol onions and swede); takes a lot more Roadkill Chef, aim to feed 250 people a three- also wild food foraging, time and energy than course meal with full service for free, which is nutritionally driving or catching the exceptional and bus or train, but it's also completely out of waste food and things beautifully gentle on an economical foraged from the wilds of Bristol. the environment (I alternative to my old forage for berries, gym subscription, and nettles, mushrooms, nuts and greater plantain for a I find cycling much more enjoyable than using hayfever remedy); and also securing waste food and motorised vehicles. other goods from local restaurants and shops. This is The point is, I'd much rather have my time consumed an incredible resource to draw on, and although its making my own bread outdoors than kill it watching existence is, of course, dependent on industrialised some reality TV show in a so-called "living" room. society, I feel like I have an obligation to consume it Where money once provided me with my primary sense before using up any more energy producing food. of security, I now find it in friends and the local In fact I'm currently organising a free mini-festival community. Some of my closest mates are people I only called the Freeconomy Feast 2009, where myself and met because I had to build real relationships with others Fergus Drennan, the BBC's Roadkill Chef, aim to feed based on trust and kindness, not money.

HEALTH

Can Sports-Watching Infants Turn Sportsmen?

New research suggests that infants learn a lot by watching the complex actions of adults. Babies can develop their own motor skills from such observations.

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The brain ability is likely due to so-called mirror neurons, which fire both when we do an action ourselves, and when we watch others do a similar action.

While such neurons have only been directly measured in monkeys, scientists think they exist in adult humans, and now in infants.

"Even in the first year of life, babies are using the area of their brain that is involved in their own motor skills, in order to help them perceive other people's actions," said lead researcher Victoria Southgate of the Center for Brain and Cognitive Development, Birkbeck, University of London.

small object on the stage floor. After less than a second, an experimenter's hand reached through the curtain, grasped the object and removed it from the scene.

The EEGs showed activity in the baby's brain when the experimenter grabbed for the object, similar to the activity found for the baby's own motion toward the toy. In addition, in later trials once the babies had observed the experimenter grabbing the toy, this brain activity also occurred just prior to such action.

"The fact that the brain activity in babies is 'predictive' — it occurs when the baby can predict that someone will reach for an object — suggests that babies (and probably adults too) use their own motor system in order to figure out how someone else's action will unfold," Southgate told LiveScience. "That is, by accessing your own motor plan for how you would, for example, achieve the goal of picking up an object, you can make a good prediction about how someone else would also do that."

Southgate and her colleagues attached electrodes to the heads of 15 nine-month-old infants in order to record brain activity while the little ones were performing or watching an activity. The electrodes were connected to encephalograph (EEG) machines.

That information would help you to respond to the other person's action, say, to intercept their movements and take the object yourself, Southgate added.

In the first experiment, the infants sat in front of a puppet stage with the curtains closed. A mechanical claw holding a toy was held out through the curtain. After the infant briefly played with the toy, a scientist sitting next to the infant retrieved the toy.

"For babies, this kind of brain activity may form the basis of their abilities to begin to engage in collaborative activities with others, which is likely to be an important part of their enculturation," Southgate said.

In the next experiment, the curtains opened to reveal a

And the brain activity could be one of a baby's first steps into the social world.

The study is detailed in the journal Biology Letters.

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he look of amazement in the eyes of an infant suggests the wheels are churning away inside that noggin. New research confirms they are. Scientists have shown that when 9-month-olds watch people reach for objects, the motor region in their brains gets activated, as if the babies were doing the reaching themselves.

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HEALTH

20 TIPS TO

EAT BETTER, GET BETTER EARLY BREAKFAST OR LATE BREAKFAST? HOT WATER OR COLD? FRUIT OR JUICE? WHAT TO EAT TOGETHER AND NOT? HERE ARE 20 TIPS TO EAT BETTER FOR YOUR FITNESS TARGETS LIKE IDEAL WEIGHT, ENERGETIC OUTLOOK, AND DISEASE-FREE LIVING. id you know that you should avoid consuming dairy products along with citrus foods? Or that starving yourself actually makes the body retain fat? These 20 simple dietary tips can make a big difference to your wellness, so sit up and take notice.

4. Avoid drinking cold water or cold beverages after a meal, as it leads to indigestion: Drinking cold water after the meal solidifies the oily food that you have just consumed. This slows down the digestion. It is best to drink hot soup or warm water after a meal.

. Eat water-filled foods like cantaloupe 1. Try to eat your breakfast within one hour of 5(kharbooja), watermelon, pineapple, spinach and waking up, as it will help speed up your metabolism.

Metabolism slows down during the night and breakfast helps kick-start it up again. If you wait longer, your body begins to go into starvation mode and your metabolism begins to slow down even more.

cabbage as they are low in calories and will make

2. Eat bread along with the crust, as the crust contains 6 times more antioxidants than the lightcoloured innards of the bread.

3. Drink lemon juice and honey in warm water early

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in the mornings, it reduces water retention and helps in digestion.

you feel fuller.

6. Eat fruits and vegetables with the skins, as there are many nutrients just under the skin. Skins also add fibre and texture to your food. Also, it's healthier to have a fruit instead of its juice -- the juice gives you no fibre.

7. Add 1 teaspoon of wheat bran (chokker) per roti in wheat flour to increase insoluble fibre in your diet. Most people think of fruits and vegetables when they think of fibre, but actually it is the fibre in wheat bran that weight loss specialists talk about when they suggest fibre intake. The fibre in fruits and vegetables, though quite useful, is in much lesser quantity.

8. Wash vegetables before cutting or chopping to minimize nutrient loss.

9. Eat slowly, as it prevents overeating. To slow down, put down your cutlery after every two bites. And chewing well helps to digest food better than just swallowing it -- it helps you avoid overeating.

10. Try an occasional fast, as it gives the digestive system a rest and refreshes the senses, mind, and consciousness. According to the Ayurveda, fasting strengthens both will power and bodily health. When breaking a fast, avoid eating lots of heavy foods as they can cause water retention, blood pressure fluctuations and toxin accumulation.

the appetite, decrease cravings for snacks and reduce calorie intake, while helping to maintain alertness and energy levels through the afternoon.

13. Avoid eating fatty foods before a workout, as they are slow to digest and remain in the stomach for a long time. Fat content in the food will pull blood into the stomach because that aids in fat digestion. This can cause cramping and discomfort while working out.

14. Avoid eating too many types of food in a single meal, as conflicting foods like dairy products and citrus fruit may upset the digestion.

15. Vegetables should be lightly sautĂŠed (a method of

11. Eat moderately, as the stomach needs working

cooking using small amount of fat in a shallow pan over high heat) to preserve nutrition.

space -- fill it half with food, a fourth with liquids and leave the rest for air.

16. Honey should not be cooked, as it slows digestion

12. When you feel the urge to snack on something, have a sugar-free chewing gum -- it can help to control

that way. The molecules become a non-homogenised glue that adheres to mucous membranes and clogs subtle channels, producing toxins. Adding honey to a cup of hot tea (not boiling) or salad dressing is acceptable.

17.Do not combine iron-rich foods with dairy products like paneer as that leads to nutrient loss. To increase your iron levels, have a lot of citrus fruit -- Vitamin C adds to the iron absorption.

18 . Consuming too much red meat can lead to hypertension and heart problems hence should be had sparingly.

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19.Non-vegetarians should avoid dairy products like cheese and paneer along with meat intake. Non-veg food is high in cholesterol, hence it's important to avoid other foods which can have an additive effect on one's cholesterol, like dairy products.

20. Choose brown rice instead of normal rice, it helps in weight loss.

HEALTH

Pregnancy and Sleep Getting a good night’s sleep may be one of the greatest challenges you face during pregnancy. Remember your body is working hard to protect and nurture the developing baby. Getting enough sleep is vital as your body needs enough rest as you tend to get more tired than usual during this period.

fluids. This results in more urine output.

Stress, anxiety, hormonal alterations and physical discomforts are some factors which may affect your sleep. You may have problems falling asleep or you just cannot seem to find a comfortable position to sleep or even be troubled by unpleasant dreams.

Heartburn and indigestion: Many pregnant women experience heartburn and indigestion during pregnancy. Heartburn is a burning sensation that occurs at the lower regions of your chest leaving an unpleasant taste in your throat and mouth.

Heartburn and indigestion may occur as the entire digestive system slows down during pregnancy, which cause delay in the stomach emptying after meals.

Sleep problems in pregnancy There are various factors that contribute to disrupted sleep during pregnancy. Some of them are as follows: Frequent urge to urinate: You would often find yourself waking up at night due to an increased need to go to the bathroom, shortly after you become pregnant. This is because your growing Uterus puts pressure on the Bladder and making you feel the need to urinate more often.

Moreover, the amount of blood and other fluids in your body increases, which means your kidney is working harder to filter the

Leg cramps: As pregnancy progress, you may have painful cramps in the muscles of your leg caused by the extra weight you are carrying. It usually happens during second and third Trimester of pregnancy, which may interfere with your sleep. Another reason is that as your Uterus expands, it can put more pressure on the nerves and veins leading from your trunk to your legs. And a third reason may be due to the presence of too much phosphorus and too little calcium and potassium in your blood.

Restless leg syndrome: Restless leg syndrome (RLS) is a condition in which your legs feel an uncontrollable urge to move around while you are sitting or lying down. Moving your legs brings immediate relief from the crawling, tingling and burning

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As your belly grows and pregnancy progresses, sleep may become increasing difficult for you.

However, making some simple lifestyle changes during pregnancy may work for you to get the sleep you need.

Nausea: Morning sickness may be worse at night but you may feel nauseated at night as well. Night-time nausea may keep you from falling asleep. Although more common in the early stage of pregnancy, nausea can occur at any stage.

sensation you feel inside your legs. But the relief is short-lived as the sensation returns once you sit or lie down. RLS can interfere with falling asleep and prevents you from having a deep sleep. There are many theories about the cause of RLS during pregnancy and iron deficiency is one of them.

the heart). It also puts full weight on your back and intestines. All these can cause discomforts and can increase the risk of you developing backaches, indigestion, impaired breathing and circulation, etc. during pregnancy.

Snoring: In the final stages of pregnancy, some women are likely to snore due to narrowed airways and increased pressure against your lungs. Snoring can cause you to breathe more deeply as if you are harder to get air or you wake up with a gasp in sleep. Culprits for snoring include hormonal fluctuations and weight gain during pregnancy.

Tips for sound sleep

Other reasons: Some women experience more bizarre dreams than usual or even nightmares. Stress and anxiety during pregnancy also can interfere with your sleep.

Best sleeping position The best sleeping position for a pregnant woman is lying on her side, especially the left side. Lying on your side keeps the baby weight from applying pressure against the vena cava, a major vein that returns blood from the lower body to the heart. It actually helps improve blood circulation to the heart and allows maximum blood flow and nutrients to the Fetus.

Do not worry about shifting positions as it is a natural part of sleeping. Moreover, you might not be able to do so as it would be too uncomfortable for you as the pregnancy progresses.

Sleeping on your stomach: Sleeping on your stomach during pregnancy should be avoided as it will put pressure on the Fetus.

Exercise: Exercise during pregnancy is good for your mental and physical health. Don’t exercise too near to bedtime as it can cut down on deep sleep.

Pillows: Tucking a pillow under your back, to one side will help you if you are very uncomfortable to lie on your side. Some women find it helpful to prop a pillow between the knees to sleep on their side comfortably.

You can also try for “pregnancy pillows” which are available in the market.

Nutrition: Drinking a glass of warm milk may help you bring on sleep. Cut down on the intake of caffeinated drinks like coffee, tea and soda as much as possible during pregnancy.

Avoid drinking lots of fluid within a few hours before going to sleep to cut down on night time trips to the bathroom. Keep some simple snacks like crackers by your bedside if nausea is keeping you up. Experts believe that carbohydrate-rich foods like bread can also promote sleep.

Sleeping positions to avoid

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Sleeping on your back: Sleeping on your back is not recommended as the baby’s weight presses on vena cava (a major vein that returns blood from the lower body to

Relaxation techniques: If anxiety and stress are keeping you awake, relaxation can calm your mind. Relaxation techniques include deep breathing, massage, yoga and stretching.

Prescription drugs: Ideally, all prescription drugs and over-the-counter drugs should be avoided during pregnancy as it may harm your baby. Consult your doctor before taking any kinds of medicine. If a leg cramp awakens you, you can try stretching your leg straight away. Sitting or standing with your legs crossed for long time should also be avoided.

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Why we yawn: To cool our brains

If your head is overheated, there's a good chance you'll yawn soon, according to a new study that found the primary purpose of yawning is to control brain temperature.

The finding solves several mysteries about yawning, such as why it's most commonly done just before and after sleeping, why certain diseases lead to excessive yawning, and why breathing through the nose and cooling off the forehead often stop yawning.

The key yawn instigator appears to be brain temperature.

"Brains are like computers," Andrew Gallup, a researcher in the Department of Biology at Binghamton University who led the study, told Discovery News. "They operate most efficiently when cool, and physical adaptations have evolved to allow maximum cooling of the brain."

He and colleagues Michael Miller and Anne Clark analyzed yawning in parakeets as representative vertebrates because the birds have relatively large brains, live wild in Australia, which is subject to frequent temperature swings, and, most importantly, do not engage in contagious yawning, as humans and some other animals do.

Contagious yawning is thought to be an evolved mechanism for keeping groups alert so they "remain vigilant against danger," Gallup said.

For the bird study, the scientists exposed parakeets to three different conditions: increasing temperature, high temperature and a control temperature. While yawning did not increase during the latter two conditions, it more than doubled when the researchers increased the bird's ambient temperature.

A paper on the findings has been accepted for publication in the journal Animal Behavior.

"Based on the brain cooling hypothesis, we suggest that there should be a thermal window in which yawning should occur," Gallup said. "For instance, yawning should not occur when ambient temperatures exceed body temperature, as taking a deep inhalation of warm air would be counterproductive. In addition, yawning when it is

extremely cold may be maladaptive, as this may send unusually cold air to the brain, which may produce a thermal shock."

The parakeets yawned as predicted.

It's now believed yawning operates like a radiator for birds and mammals.

If air in the atmosphere is cooler than brain and body temperatures, taking it in quickly cools facial blood that, in turn, cools the brain and may even alter blood flow. Prior studies reveal yawning leads to a heightened state of arousal, so a morning yawn may function somewhat like a cup of coffee in providing a jolt of energy.

The new findings also explain why tired individuals often yawn, since both exhaustion and sleep deprivation have been shown to increase deep brain temperatures, again prompting a yawndriven cool down. Yawning additionally appears to facilitate transitional states of the brain, such as going from sleep to waking periods.

Gordon Gallup, Jr., a State University of New York at Albany psychologist, did not work on the study, but, as Andrew Gallup's father, paid close attention to the research. The senior Gallup also happens to be a leading expert on the science of yawning and other widespread evolved traits.

"It is interesting to note that instances of excessive yawning in humans may be indicative of brain cooling problems," Gallup, Jr., told Discovery News, pointing out that patients with multiple sclerosis often experience bouts of excessive yawning "and MS involves thermoregulatory dysfunction."

He added, "Bouts of excessive yawning often precede the onset of seizures in epileptic patients, and predict the onset of headaches in people who suffer from migraines."

In the future, researchers may focus more on brain temperature and its role in diseases and their symptoms. But the new study on yawning changes the popular notion that yawns are mere signs of boredom.

On the contrary, as Gallup said, "yawning more accurately reflects a mechanism that maintains attention, and therefore should be looked at as a compliment!"

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Contagious yawning may have evolved to keep group of people alert

EYE SHADOW

Beauty Skin Deep,

Bother Life Long SEASONAL MAGAZINE

Awash in beauty has come to mean awash in toxins. Revealing the 500 odd chemicals women put on their bodies every day.

AVERAGE NO OF CHEMICALS: 26 MOST WORRYING: Polyethylene Terepthalate SIDE EFFECTS: Linked to cancer, Infertility, Hormonal disruptions, Damage to the body’s organs

BLUSHER AVERAGE NO OF CHEMICALS: 16 MOST WORRYING: Ethylparaben Methylparaben Propylparaben SIDE EFFECTS: Rashes, Irritation, Hormonal disruptions.

DEODORANT AVERAGE NO OF CHEMICALS:15 MOST WORRYING: Isopropyl Myristate, Parfum SIDE EFFECTS: Irritation of skin, eyes, and lungs Headaches Dizziness Respiratory Problems

BODY LOTION AVERAGE NO OF CHEMICALS: 32 MOST WORRYING: Methylparaben Propylparaben Polyethylene Glycol SIDE EFFECTS: Rashes, Irritation, Hormonal Disruption

SHAMPOO

FOUNDATION HAIRSPRAY AVERAGE NO OF CHEMICALS: 11 MOST WORRYING: Octinoxate Isopthalataes SIDE EFFECTS: Allergies, Irritation to Eyes, Nose, Throat, Hormone Disruption, Cell Structure Changes

AVERAGE NO OF CHEMICALS: 24 MOST WORRYING: Polymethyl Methacrylate SIDE EFFECTS: Allergies, Disrupts immune system, Links to cancer

NAIL VARNISH AVERAGE NO OF CHEMICALS:31 MOST WORRYING: PTHALATES SIDE EFFECTS: Linked to fertility issues Problems in developing babies

PERFUME AVERAGE NO OF CHEMICALS: 250 MOST WORRYING: Benzaldehyde SIDE EFFECTS: Irritation to mouth, throat, and eyes Nausea Linked to kidney damage

FAKE TAN AVERAGE NO OF CHEMICALS: 22 MOST WORRYING: Ethylparaben Methylparaben Propylparaben SIDE EFFECTS: Rashes, Irritation, Hormonal Disruption

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LIPSTICK AVERAGE NO OF CHEMICALS:33 MOST WORRYING: Polymethyl Methacrylate SIDE EFFECTS: Allergies, Disr-upts immune system, Links to cancer

AVERAGE NO OF CHEMICALS: 15 MOST WORRYING: Sodium Lauryl Sulphate Tetrasodium Propylene Glycol SIDE EFFECTS: Irritation, Possible Eye Damage

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W

omen and beauty products - it's a love affair that's been going on for centuries. And no wonder. There's nothing like a new lipstick or favourite perfume to make us look and feel good. Or so we thought...

In fact, according to a new report, most of our favourite cosmetics are cocktails of industrially produced and potentially dangerous chemicals that could damage our health and, in some cases, rather than delivering on their potent 'anti-ageing' promise, are causing us to age faster.

Research by Bionsen, a natural deodorant company, found that the average woman's daily grooming and make-up routine means she 'hosts' a staggering 515 different synthetic chemicals on her body every single day.

Many of those are also used in products such as household cleaners, and have been linked to a number of health problems from allergies and skin sensitivity

to more serious hormonal disturbances, fertility problems and even cancer.

Parabens, for example, which are designed to preserve the shelf-life of your cosmetics, are one of the most widely used preservatives in the world, and are found in shampoos, hair gels, shaving gels and body lotions. But their use is becoming increasingly controversial - a range of different studies has linked them to serious health problems including breast cancer, as well as fertility issues in men.

Research from the Kyoto Prefectural University of Medicine suggests that some parabens we had previously presumed to be safe, such as Methylparaben, may mutate and become toxic when exposed to sunlight, causing premature skin ageing and an increased risk of skin cancer.

Methylparabens are found in more than 16,000 products, including moisturisers and toothpastes.

Cosmetic producers have always defended their use of parabens on the grounds that they can't be absorbed into the body.

But many leading researchers disagree, including Dr Barbara Olioso, an independent professional chemist, who says: 'Research shows that between 20 and 60 per cent of parabens may be absorbed into the body.'

There are a number of laws designed to protect us from dangerous chemicals in cosmetics, but researchers worry that they don't go far enough. For example, cosmetic manufacturers are required to list their ingredients, but they don't have to tell us about any impurities found in the raw materials or used in the manufacturing process, so long as they don't end up in the finished product.

They also say that any chemicals are present in safe doses that can't harm us. While that may be true, there is some disagreement over what constitutes a 'safe' level - for young people and children, or sensitive adults, these levels may not be so safe at all.

And even if the relatively small amounts in individual products don't hurt us, there is growing concern over the number of products women use daily, and the cumulative effect of so many chemicals being used all over our bodies every day, for many years.

As Charlotte Smith, spokesperson for Bionsen, says: 'Women have never been more image-conscious and

their beauty regimes have changed over the years, from a simple "wash & go" attitude, to daily fake-tan applications, regular manicures, false lashes and hair extensions.

'Lots of the high-tech, new generation cosmetics and beauty "wonder" treatments naturally contain more chemicals to achieve even better results, which, of course, means women apply more chemicals than ever before.'

If you want to protect yourself from chemical overload, reduce your overall cosmetics usage; switch to natural or organic products, and read the labels on your beauty and grooming products with care.

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The industry insists that our cosmetics are safe. The Cosmetic Toiletries and Perfumery Association said last night: 'Stringent laws require all cosmetics to be safe, and each product undergoes a rigorous safety assessment. The number of ingredients in a product, or whether it is natural or man-made, has no bearing on how safe it is.'

MUST-VISIT SHOPPING HUBS

London dreams

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Bond Street

Whether you're an uber luxe dresser, utterly bohemian or the high street diva, London is indeed a shopaholic's paradise!

Luxe shopping

High street shopping

If you're looking at branded shopping, whether it's a Louis Vuitton, Gucci, Jimmy Choo, Cartier or Yves Saint Laurent, head to Knightsbridge and don't miss out on Harrods. Knightsbridge has all that you need if you're looking at a luxury shopping experience.

Every serial shopper's first destination is of course high street - Bond Street and Oxford Circus. Dotted by familiar brands (Zara, Mango, Morgan, etc.), it's one-stop-shop for the casual chic dresser. If, you're looking for an inexpensive cheap shopping joint, head to Primark (close to Marble Arch tube station).

Harrods

Antique shopping Get down at Notting Hill and head straight to the Portobello Market for some of the best antique ornaments and furnishings in London.

Eclectic shopping

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Whether it's the African mask or the very bohemian Indian dhoti pants, you get it all in Camden market. Be sure to pick up stuff that's unique. Also, don't miss out on the famous rave clothing shop - Cyberdog.

MUST-VISIT SHOPPING HUBS

Department stores In Macy's and Bloomingdales you will find clothes, accessories, interior, makeup, etc. under one roof - a good place to shop when you are short on time. They have regular offers and sales. While there are multiple branches of these stores in the city, you'll find the largest Macy's store on Broadway between 34th and 35th street.

High street brands Go for affordable fashion with Zara and HM Outlet Malls Outlet malls are famous in the US and NYC has a fair share where you can buy designer labels for half the price!

The Woodbury Common Premium outlet is a mustsee for brand lovers where you can get famous fashion labels for 25% to 65% less, all year round. Gucci, Escada, Tod's, Dolce & Gabbana, Fendi, Jimmy Choo are just a few in its list of 220 stores!

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Thrift shops Salvation Army and vintage stores like Screaming Mimi's and Cheap Jack's Vintage Clothing on Broadway sell second-hand goods at good prices. It's a great place to pick up vintage accessories.

New York, New York Let's explore NYC, known for its chic street wear and the latest in designer labels.

SoHo Originally, a hub for artists and art, SoHo is much more commercial today and is one of the best shopping nooks in the city.

SoHo is a mix of stores and the artist-like vibe. While there's Chanel and Marc Jacobs on one side, there are street shops selling quirky jewellery and interesting tshirts on the other.

You can spot one-of-a-kind stores like the Hat Shop and Pearl River, a Chinese Emporium of clothes, accessories and home dĂŠcor. Our favourites are Anthropoligie, old-world and feminine, while Dean & Deluca is an upmarket grocery store with a selection of cakes, wines, cheese and gourmet food.

Flea markets There are regular flea markets in Broadway and Brooklyn. The Annex Fair & Flea Market on 6th Avenue is great for decorations, furniture, clothing, silver and art work. The Garage is an indoor antiques market between the 6th and 7th Avenue, open only on Saturdays and Sundays.

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If you are looking for more antiques, then the SoHo Antiques fair is a good place. The Brooklyn Flea at Dumbo Park is where you can find old records and vintage clothing. Finally, check out the Noho Market on Broadway for vintage clothing, jewellery and sunglasses.

WV POLO

Toyota Prius, VW Polo and Beetle join long list of cars headed to India Toyota announced November 6 that it will sell its first small car in India in late 2010, the most recent announcement from an increasing number of automakers intending to target the burgeoning Indian market.

The car will debut at the New Delhi Auto Expo, opening January 5, 2010, and will have a small, fuel-efficient 1.2-liter engine, with possibly a diesel option.

Toyota will also showcase its Prius hybrid sedan for the first time in India at the expo and is considering selling the car there, according to US-based financial newspaper The Wall Street Journal. Compact cars, including superminis like the popular new Tata Nano, comprise the overwhelming majority of India's market, but India's nouveau riche could provide an ample market for the hybrid king.

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Toyota and many other automakers are far behind the nation's sales leaders - Suzuki, Hyundai and Tata - but that has not deterred the brands from designating a slew of small cars to be headed for the subcontinent.

Also on November 6, Volkswagen reaffirmed its plans to sell its Polo hatchback, the German automaker's bestselling car internationally, in India. The car is being redesigned for the Indian market and will be launched in 2010.

Coming next month to India is the VW Beetle, which

will vie in India's luxury model market more than its family car segment.

On October 30 Nissan announced it will launch a new small car, known currently as V, in India, as well as Thailand and China, in March 2010 in its bid to produce the developing world's compact car of choice.

In September Ford unveiled its new Figo model, the first small car to be produced in India by the American automaker. The hatchback will be available in India in early 2010 and draws heavily from Ford's Fiesta model, which is one of Europe's top selling cars.

Auto sales in India are less than one tenth of car sales in the US this year, but with demand slumping in the West, countries with room to grow, like India, are receiving more attention than ever before.

TOYOTA PRIUS

WV BEETLE

Tata Motors set to launch new Cross Over Model Tata Xover Tata Motors set to launch new cross over model Tata Xover. It will show case the Tata Xover at the Delhi Auto Expo in 2010.

Tata Motor plans to launch the model in India by mid-2010. The car will be pitted against Toyota Innova, Mahindra Xylo and Chevrolet Tavera. The new model is expected to be placed between Sumo Grande and Safari Dicor SUV models from Tata Motors. The expected price of the seven seated car is 6-8 lakhs.

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FORD-FIGO

Designer

Tata Nano From Dilip Chhabria

brand name for the redesigned vehicle. We have a wait list as a lot of people want their Nanos redesigned," said Chhabria, refusing to divulge more details about the design changes. When asked about any changes in the interiors he said "We have not planned many changes in the interiors."

The ace designer is looking at scaling up operations.

He said "Hence, the tie-up with Carnation Auto". He has designed over 2,000 cars, including Limousines and sports cars in the past 16 years. His clientele include

The world's cheapest car is all set to have a revamped look. Designers of world class repute have taken keen interest in the car and the Tata Nano will get a facelift from the combined efforts of Dilip Chhabria and former Maruti Suzuki India chief, Jagdish Khattar.

Designer Tata Nano by Dilip ChhabriaDilip Chhabria, the promoter of Dilip Chhabria design said "We have retained the original look but have made it more stylish.

One can spend a premium of Rs 80,000 to get the new look." He added "We plan to sell at least a couple of hundred, designer Nanos."

Dilip Chhabria's DC Design and Jagdish Khattar's Carnation Auto entered into a partnership in September this year, to provide car customization kits at 11 carnation outlets across India. Carnation is into selling used cars and multi brand accessories in addition to offering services.

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Talking about the revamped car, Dilip Chhabria said "We call it Hot Nano." He added "we will finalize a

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Amitabh Bachchan, Shah Rukh Khan, Sanjay Dutt, Geet Sethi among others.

Designer Tata Nano by Dilip Chhabria is contemplating a foray into healthcare sector by designing ambulances.

Talking about his plans he said "Around 100 ambulances would be designed, to enhance comfort levels of patients. Apollo group has already shown interest in buying a few".

Although his company designs 60-80 cars in a year, Dilip Chhabria is scaling up the number to about 200300, in the wake of increasing demand for customized cars as lifestyle products.

What is the most expensive car in the world? It is hard to imagine someone would actually spend 1+ million dollars on a car instead of using it for something more productive. However, if you have the money and the mind, you will definitely spend it to place a few of these supercars in your garage.

Here are the 10 most expensive cars available on the market today.

Porsche Carrera GT $440,000 A supercar with dynamic stability control and a top speed of 209 mph+ and it can reach 0-60 in 3.9 seconds. The Porsche Carrera GT applies the absolute calibers of a true racing car to offer an unprecedented driving feeling on the road.

6.Koenigsegg CCX $545,568 Swedish made, the Koenigsegg is fighting hard to become the fastest car in the world. Currently the 3rd fastest car in the world with a top speed of 250 mph+, the car manufacture Koenigsegg is not giving up and will continue to try and produce the fastest car.

WORLD’S MOST EXPENSIVE CARS

WORLD’S MOST EXPENSIVE CARS

Pagani Zonda C12 F $667,321 Produced by a small independent company in Italy, the Pagani Zonda C12 F is the 8th fastest car in the world. It promises to delivery a top speed of 215 mph+ and it an reach 0-60 in 3.5 seconds.

$457,250 A GT supercar, the SLR McLaren is the fastest automatic transmission car in the world with a top speed of 207 mph+ and reaching 60 mph in 3.8 seconds from stand still point.

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Mercedes-Benz SLR McLaren

WORLD’S MOST EXPENSIVE CARS

LeBlanc Mirabeau $645,084 Doesn’t this look like a race car? Yet, with $645k, you can get this car and legally drive to your local supermarket and buy groceries. It has a top speed of 229 mph+ and although it was intentionally made for racing, it may be bought and show off to your neighbors.

Saleen S7 Twin Turbo $555,000 The first true American production certified supercar, this cowboy is rank #4 for the fastest car in the world. It has a top speed of 248 mph+ and it can reach 0-60 in 3.2 seconds. If you are a true American patriot, you can be proud to show off this car.

Bugatti Veyron $1,192,057.

This is by far the most expensive street legal car available on the market today. It is the fastest accelerating car reaching 060 in 2.5 seconds. It claims to be the fastest car with a top speed of 253 mph+. However, the title for the fastest car goes to the SSC Ultimate Aero which exceed 253 mph pushing this car to 2nd place for the fastest car.

Maybach 62 $385,250 The first 4-doors sedan to make the list, the Maybach 62 includes many luxurious features and it was made for comfort rather than speed.

Maybach 57 S $367,000 High-end luxury saloon with sporty handling and top performance technology.

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3.SSC Ultimate Aero $654,400 Don’t let the price tag fool you, the 3rd most expensive car is actually fastest street legal car in the world with a top speed of 257 mph+ and reaching 0-60 in 2.7 seconds. This baby cost nearly half as much as the Bugatti Veyron, yet has enough power to top the most expensive car in a speed race. It is estimated that only 25 of this exact model will ever be produced.

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