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ThursDAY 12•11•2015
BUSINESS
THE MORUNG EXPRESS
Rajan appointed as vice chairman of BIS
mUmbAi, November 11 (AgeNcies): Reserve Bank of India governor Raghuram Rajan has become the first Indian central banker to be appointed as vicechairman of the Bank for International Settlements (BIS) -the bank for central banks. The appointment is expected to give stronger voice to Rajan, who has been repeatedly calling for more coordination among central banks in monetary policy. Rajan was elected to the number two position for a period of three years from November 10, 2015 at a meeting of the BIS board. Rajan had joined the BIS board in December 2013. As vice-chairman, Rajan will work with BIS chairman Jens Weid mann, who is also president of Germany’s Bundesbank. Rajan has for long been
pens, there will be volatility . I worry more about the consequences of staying in the ultra accommodative ... world. I think there will be volatility, but I think we have to bear it,” he said. Prior to Rajan, former RBI governor Y V Reddy had a key role as chairman of the BIS Asian Consultative Council which comprised all governors of BIS member central banks in the Asia-Pacific region. As an organization of central banks, BIS seeks to bring more predictability and transparency in monetary policy . The framework for regulations that prescribe capital requirement for banks is also prescribed by the BIS. The capital norms are known as Basel norms, named after the location of the BIS headquarters where they were framed.
Reserve Bank of India (RBI) Governor Raghuram Rajan delivers a lecture at the India Habitat Centre in New Delhi on November 6. (REUTERS Photo)
a critic of central banks in the develo ped world opening up the monetary sluice gates and flooding emerging markets with capital flows. Rajan once even had a face-off with former chairman of the Federal Reserve Ben Bernanke when he said that powerful central banks
should pay attention to how their policies affect other countries. On Tuesday , speaking at Frankfurt, Rajan forecast volatility when the Federal Reserve raises rates. However, he said that the consequences of the inaction by the Fed would be even more severe.”When it hap-
Now, book tickets 30 minutes prior to departure of train New Delhi, November 11 (PTi): Come November 12, you can book a railway ticket online 30 minutes prior to the departure of a train. In a passenger-friendly move, Railways has also made changes in its system of preparation of chart, which would now be prepared twice. The first reservation chart would be prepared four hours prior to departure of a train while
the second and the final one 30 minutes before the train departs, a senior Railway official said. According to the revised rules, booking will be allowed on internet as well as at reservation counters for a particular train, subject to availability of berths, even after the preparation of first reservation chart. Railways has also made it mandatory for the concerned department
to finalise the reservation chart four hours before the departure of train from November 12 in order to facilitate passengers to know the status of their ticket and plan their journey well in time. This is a significant move to provide additional booking facilities enabling passengers to buy tickets even after the preparation of reservation charts, the official said. A second and final
chart of reservations will be made available before departure of train and handed over to onboard ticket checking staff. This exercise will ensure optimum utilization of train accommodation as well as enhanced earnings, the official said. Also, there were complaints of delay in finalisation of reservation chart giving scope to touts for indulging in illegal ticketing activities.
Centre starts constituting new Tea Board KolKATA, November 11 (The hiNDU): The Board constitutes 31 members drawn from parliamentarians, tea-producers, traders, brokers, consumers, and representatives of governments from the principal tea-producing States, and trade unions. The Union Commerce Ministry has kicked off the process of reconstituting the Tea Board of India after a considerable gap of 19 months. The term of the last board had expired in March 2014. The notification, appointing the members was issued on November 2, 2015.
The list includes names of exofficio officials representing the teagrowing states of Assam, West Bengal Kerala, Tamil Nadu, Himachal Pradesh, Tripura and Sikkim. It also includes owners’ representatives from most of the tea-growing States. The Board constitutes 31 members (including Chairman) drawn from parliamentarians, tea-producers, traders, brokers, consumers, and representatives of governments from the principal tea-producing States, and trade unions. The Board is reconstituted every three years.
While initially the delay was linked to the alleged policy paralysis of the UPA government, hopes of expeditious action with the coming to power of BJP led government too were belied. This led to apprehensions whether the government had some plans of recasting the industry regulator. This fear, as much among the Tea Board officials as the industry, was fed by the gap in naming a fulltime Chairman for the Board. Since the resignation of M. G. V. K. Bhanu in December 2013, there has been no full-time Chairman of the Board.
IPO preparations underway in India: Vodafone Indian Team bags NASA Japan’s first commercial jet in loNDoN, Novem- day said its service revenue for several years, but has Award for tyre technology 50 years makes maiden flight ber 11 (PTi): Vodafone - excluding the regulatory held back because of reguGroup Plc today said it has started preparations for an initial public offer (IPO) of its Indian business. India is a significant contributor to the Vodafone group and it is the largest data traffic market by volume as well as the third-largest contributor to the group’s service revenues. “We have recently begun preparations for a potential IPO of Vodafone India, subject to market conditions,” the Londonbased Group said in a statement. Last month, Vodafone Group chief executive officer (CEO) Vittorio Colao had said that the company had started preparatory work for the IPO. “I cannot give you a date, but I can tell you (that) we are positively inclined to an IPO and have started some preparatory work,” Colao had said on his visit to India in October. The telecom major to-
impact - in India has grown 11.2 per cent to Rs 22,902 crore for the first half of the ongoing fiscal, driven by customer additions and robust growth in data against Rs 20,601 crore in April-September 2014. Vodafone India’s mobile customer base grew 8.2 per cent to 188.2 million at the end of September 2015 against 173.8 million in the year-ago period. The group had in May asked investment bank Rothschild to compile a report about the benefits of a possible IPO, which would provide the company with cash for its India plans. The share sale will also offer investors an opportunity to reap dividends from a market where wireless growth is outpacing that of more mature countries such as Vodafone’s home market, the UK. The company has been considering an Indian IPO
latory and tax issues in the country. Vodafone is India’s second largest wireless mobile operator with a market capitalization of about 9.3 billion pound, and an enterprise value of 11.4 billion pound, according to analysts at Citi. The Indian division’s earnings before interest, taxes, depreciation and amortization reached 1.28 billion pound on sales of 4.3 billion pound in 201415. India accounts for about 10 per cent of the group’s revenues. Vodafone in January said that it has invested more than 12.8 billion pound in India since 2007. In 2013, it committed to invest about Rs 8,500 crore annually. In addition, the company acquired spectrum for about Rs 25,959.74 crore in March and has plans to expand 3G service network from 9 circles to 16 circles.
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LEISURE
Simple Rules - There is just one simple rule: “Fill in the grid so that every row, every column, and every 3x3 box contains the digits 1 through 9.”
SUDOKU Game Number # 3402
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BASEBALL GLOVE BASE HOMEPLATE FIRSTBASE SECONDBASE THIRDBASE BAT BALL OUTFIELD INFIELD PITCHER CATCHER COACH HOMERUN DOUBLE TRIPLE SINGLE GRANDSLAM GRASS FIELD TEAM MASCOT SCOREHIT RUN STRIKE OUT INNING LEAGUE NATIONAL AMERICAN
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ToKYo, November 11 (reUTers): Japan’s first commercial jet in half a century made its maiden flight on Wednesday, in a breakthrough for the country’s long-held ambition to establish an aircraft industry that can compete with some of the major players in global aviation. The Mitsubishi Regional Jet (MRJ) took off on a one-hour return flight from Nagoya Airport to test Mitsubishi Aircraft Corp’s ability to bring the 100seat class plane into service after three years of delays. The unit of Mitsubishi Heavy Industries, which built the World War Two-era Zero fighter, is hoping the $47-million regional jet will help it oust Canada’s Bombardier Inc as the world’s second-biggest maker of smaller passenger jets behind Brazil’s Embraer SA. The MRJ is Japan’s first commercial passenger aircraft since the 64-seat YS-11 entered service 50 years ago. The first MRJ is slated for delivery in June 2017 to Japan’s biggest carrier, ANA Holdings. Mitsubishi aims eventually to sell more than 2,000 aircraft in the competitive market segment. So far it has secured 223 firm or-
DAILY CROSS WORD
CROSSWORD # 3414
Answer Number # 3401
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New Delhi, November 11 (AgeNcies): Tyre punctures and blowouts have always been the bane of motorists and there have been countless cases where they have led to fatal accidents, especially when the vehicle is moving at a fairly decent speed. However, a group of Indian scientists might just be able to solve the problem in a cost-effective manner. TycheeJuno, a team from Odisha, has come up with a solution called BPPC (Burst Prevention and Puncture Curative) which recently bagged an award from NASA at the Create the Future Design Contest 2015 in New York. TycheeJuno’s BPPC technology decreases the possibilities of tyre bursts and also helps to prevent punctures. In fact, it can even help a punctured tyre run like a normal one on the road. In addition to all of this, the technology improves dynamic wheel balancing, increases fuel efficiency and the life of the tyre. The team has developed a multi-chambered tube and a multi-chambered tubeless tyre filled with a liquid layer of sealants, rubber particles, etc., which prevent leakage of air in the case of a puncture. “There have been technologies for limiting the impacts of punctures. However, there was no solution to decrease the chances of a burst due to tyre over-heating in a localised area, except perhaps our BPPC,” TycheeJuno team leader Sameer Panda, who is doing his PhD from VSS University of Technology (VSSUT) in Odisha’s Sambalpur district, said. Udit Bondia, Dr KN Panda and Smitiparna Satpathy are the other members in his team. Thousands of young scientists from 60 countries participated in the international contest, which was conducted by NASA Tech Brief - an event which is jointly organised by NASA and Society of Automobile Engineers, International.
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A I N F I E L D B I A D Q N N A E I X R
DIMAPUR Civil Hospital:
A T P L R U K O Y G U I Q Z G Z Q R P F
STD CODE: 03862 232224; Emergency229529, 229474
Metro Hospital: Faith Hospital:
227930, 231081 228846
Shamrock Hospital
228254
Zion Hospital:
231864, 224117, 227337
Police Control Room
228400
Police Traffic Control
232106
East Police Station West Police Station
227607 232181
CIHSR (Referral Hospital)
242555/ 242533
Dimapur hospital
224041, 248011
Apollo Hospital Info Centre:
230695/ 9402435652
Railway:
131/228404
Indian Airlines
229366
ACROSS
1. Rectum 5. Skid 10. Poems 14. Clean 15. Sharpened 16. Ground forces 17. Always 18. Renunciation 20. Perturb 22. Souvenir 23. Type of dog 24. Annoyed 25. Slums 32. Shoestrings 33. European currency 34. Morning moisture 37. Wicked 38. Something of value 39. Hawkeye State 40. Married 41. Runs in neutral 42. Wrath 43. Netminders 45. Disney mermaid 49. A type of evergreen tree 50. British soldier 53. Adornment of gems 57. Interdependence of living organisms
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1. Blown away 2. Central area of a church 3. End ___ 4. Exploded fragments 5. Ungroomed 6. Part of the outer ear 7. Hotel 8. Consider 9. Border 10. Cowboy movie 11. Beverage 12. Overact 13. Church council 19. Awry 21. Cashews and almonds 25. Killed 26. Possess 27. Corrosive 28. Electrical pioneer 29. European blackbird 30. Seize 31. Excluding
34. Venician magstrate 35. Pitcher 36. Armed conflicts 38. Big fuss 39. Exists as an inner spirit 41. Snow house 42. Again 44. Shoelace hole 45. Mountain crest 46. Happen again 47. Graven images 48. Panache 51. How old we are 52. Cultivate 53. Green gem 54. An escape of water 55. Hindu princess 56. The original matter (cosmology) 58. Prompt Ans to CrossWord 3413
KOHIMA: 0370 2222952/ 101 (O) 9402003086 (OC) DIMAPUR: 03862 232201/ 101 (O) 9436017479 (OC)
CHUMUKEDIMA: 03862 282777/101 (O) 9856158740 (OC) WOKHA: 03860 242215/101 (O) 9862039399 (OC)
MOKOKCHUNG: 0369 2226225/ 101 (O) 9436012949 (OC)
Nagaland Multispe- 248302, cialty Health & 09856006026 Research Centre
PHEK: 8414853765 (O) 9862130954(OC)
KOHIMA
ZUNHEBOTO: 03867 280304/ 101 (O) 9856156876 (OC)
STD CODE: 0370 100/2244279 2222222 2222111 2222952 2222916 2243339 2224202 08974997923
TUENSANG: 8414853766 (O) 8414853519 MON: 03869 251222/ 101 (O) 9436208480 (OC)
CHILD WELFARE COMMITTEE 59. Loyal (archaic) 60. A city in western Russia 61. Avoid 62. Alley 63. At one time (archaic) 64. Mixture of rain and snow 65. Read superficially
FIRE STATIONS
Chumukedima Fire 282777 Brigade Nikos Hospital and 232032, 231031 Research Centre
Police Control Room: North Police Station: South Police Station: Fire Brigade: Naga Hospital: Oking Hospital: Bethel Nursing Home: Northeast Shuttles
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ders, most recently in January when Japan Airlines asked for 32 planes. The biggest single purchase, for 100 aircraft, was from U.S. regional airline operator Trans State Holdings. Mitsubishi says the MRJ burns a fifth less fuel than aircraft of similar size, thanks to new-generation engines from Pratt & Whitney, a subsidiary of United Technologies Corp. Japan’s last attempt to establish itself as a commercial aircraft maker ended in failure. Production of the YS11, built by a consortium that included Mitsubishi Heavy, finished after only 182 planes were built. That programme however helped Mitsubishi Heavy and other companies forge ties with Boeing Co, turning them into major suppliers and partners of the U.S. aircraft maker and helping revive an aerospace industry that was dismantled after World War Two. Those Japanese companies build 35 percent of Boeing’s advanced 787 carbon-composite jetliner, including the wings, the most complex part. Japan’s biggest carmaker, Toyota Motor Corp, and largest trading company, Mitsubishi Corp, each own a 10 percent stake in the MRJ venture.
Toll free No. 1098 childline
KipHire: 8414853767 (O) 8974304572 (OC)
WE4WOMEN HELPLINE 08822911011
MOKOKCHUNG: Police Station 1:
STD CODE: 0369
2226241
Police Station 2 :
2226214
Civil Hospital: Woodland Nursing Home:
2226216 2226263
Hotel Metsüpen (Tourist Lodge):
2226373/2229343
TAHAMZAM (formerly Senapati) STD CODE: 03871 Police Station: Fire Brigade
CURRENCY NOTES
222246 222491
BUY(Rs)
SELL(Rs)
US Dollars Sterling Pound Hong Kong Dollar Australian Dollar Singapore Dollar Canadian Dollar Japanese Yen
64.94 97.78 8.11 45.74 45.62 48.80 52.36
67.90 102.56 9.03 48.01 47.86 51.22 55.33
Euro
69.84
73.26
Thai Baht Korean Won New Zealand Dollar Chinese Yuan
1.75
1.95
0.0545
0.0607
42.52
44.63
9.84
10.97