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Mumbai/New Delhi, Jan. 8 Two US-based law firms - Izard Nobel LLP and Vianale & Vianale LLP - have filed ‘class action’ lawsuits against scam-hit Satyam Computer Services on behalf of investors who purchased the American Depository Receipts (ADRs) of the Hyderabad-based company between January 6, 2004 and January 6, 2009. The lawsuit has been filed at the behest of Ms Aekta Ben Patel, a non-resident Indian in US. A class action or a representative action is a form of lawsuit where a large group of people collectively bring a claim to court. In two separate news releases sent today, both law firms have charged that the IT major and its top executives violated the Section 10(b) and 20 (a) of the Securities Exchange Act of 1934 by issuing materially false and misleading statements. According to corporate lawyers, even the independent board directors of Satyam, including the ones who have tendered their resignation, could be sued under this act. According to them, even the statutory auditor for Satyam Computer Services, Price Waterhouse could be sued. On January 7, Satyam’s Founder-Chairman, Mr B. Ramalinga Raju, sent a letter to the Satyam Board of Directors and the Securities & Exchange Board of India acknowledging a Rs 7,000-crore fraud in which Satyam’s financial accounts and disclosures were systematically falsified. As a result of this disclosure, the company’s ADRs fell by $8.42, or 90 per cent to $ 0.85 on Wednesday. Subsequently, the New York Stock Exchange suspended trading in Satyam’s ADRs. Read Complete Article here http://www.thehindubusinessline.com/2009/01/09/stories/2009010952050100.htm
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Chennai, Jan.8 India will soon allow overseas Indian professionals to practise in India, announced the Prime Minister, Dr Manmohan Singh. Addressing the inaugural of the Pravasi Bharatiya Divas – 2009, the Prime Minister said that OCI (Overseas Indian Citizens) card holders who are qualified professionals — doctors, dentists, pharmacists, engineers, architects and chartered accountants — would be able to practise their professions here. The details of the scheme are being worked out. The decision follows the overwhelming response to the Overseas Indian Citizenship scheme announced in 2006. Dr Singh also launched the Global Indian Knowledge Network, a portal to connect people of Indian origin in a variety of disciplines to users here at the national, state and local levels. This is to facilitate knowledge transfer and act as a virtual think-tank on development, education and healthcare. Dr Singh lauded the role of people of Indian origin in supporting development here. The Indian community in the US had played a key role in lifting the restrictions to end India’s nuclear isolation. The role of the Indian origin communities is growing in shaping public policy and opinion across the world. Read Complete Article here http://www.thehindubusinessline.com/2009/01/09/stories/2009010951081200.htm Reviews(0) - Add Review
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CHENNAI: They are a group of 60-70 mostly young IT professionals called the knowledge foundation. Their common thread is the need to meet and discuss issues of significance outside their professional needs.
Only this time, they are attempting to network with similar communities pan India and bring some of their activities, knowledge sharing, student outreach programmes, unconferences, under the Wikimedia banner. It is an attempt at establishing the India chapter of the Wikimedia foundation.
The knowledge foundation at Chennai has mooted attempts to start the India chapter of the Wikimedia foundation, whose chapters are present in 13 countries around the world. Each of these chapters runs on a fund of $6 million per year, obtained through corporate endowments and individual donations. Read More here http://economictimes.indiatimes.com/IT_professionals_at_Chennai_working_on_Wiki_India/articleshow/3928699.cms Reviews(0) - Add Review
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France - like many other non-English speaking European countries - is increasingly wooing young Indians for skilled jobs and as students. Besides, there also seems to be a change in the mindset of young Indians about Europe. More and more students and highly skilled immigrants are looking at non-English speaking countries, such as France, as a destination for higher study and work.
The difference in the demographic patterns between India and France is certainly working to India’s advantage with about 50% of the population in France above 40 years of age. India’s skilled young workforce is proving to be very attractive for Indian and French companies.
“The Indian workforce is young and exuberant whereas France has more experienced people. Therefore, a combination of the two is what we need to have in our workforce,” feels Ramakrishna Sachdev, director marketing, Steria, a European provider of IT-driven business services. Read More here
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 Neemrana (Rajasthan), Jan 21: The Indian publishing industry will be the focus of the 2009 London Book Fair this April, with 40 Indian writers being invited to the event, and Amartya Sen being the keynote speaker at the opening.
The Indian writers - mostly big names in English and vernacular writing - will showcase the diversity of literary and linguistic genres across the country, said representatives of the British Council India and the London Book Fair at a literary workshop at the Neemrana Fort Palace in Rajasthan Tuesday.
A special India pavilion will be set up jointly by the Book Fair authority and a forum of Indian publishers, CAPEXIL.
The names of the participating writers will be announced mid-February.
A delegation of 40 publishers from the country will also attend the fair to market their wares and acquaint themselves with the publishing laws in Britain, which are different from India.
"The London Book Fair will host 10 India-specific seminars and have four literary cafes, where one Indian writer, billed as the `author of the day`, will speak about his work," Kate Arthurs, arts consultant of the British Council`s literature department in London, told.
"Nobel Laureate Amartya Sen will be the keynote speaker at the Chairman`s Breakfast, the opening event," she added.
The British Council has been entrusted with the task of preparing the Indian publishing fraternity for the event, promote awareness about the London Book Fair, and create a shared India-British literature pool through a series of workshops, seminars and related public events in both countries with partner organisations like Wales Arts International.
The special British Council initiative in India for the London Book Fair, named "India 09 Through Fresh Eyes", will be vigorously promoted at the Jan 21-25 Jaipur Literature Festival through interactive sessions.
Debanjan Chakrabarti, head of the British Council`s Inter-Cultural Dialogue Project in India, said this market focus initiative was part of the ongoing British Council-India intercultural dialogue.
"We have been working closely with publishers in India to gear them for the London Book Fair. Last November, we organised a three-day workshop in Delhi, where representatives from the British market spoke to their Indian counterparts on ways to expand the potential of vernacular Indian publishing market to target the larger audience, including the mammoth diaspora segment in Britain," said Chakrabarti.
According to him, the market and reading trends in Britian were still dictated by the public library system and offered an opportunity for Indian publishers to make inroads.
According to global statistics, the total annual turnover of all the components in the Indian printing industry was more than Rs.50,000 crore (Rs.500 billion).
Indian books, journals and printed products are being exported to over 120 countries of the world - both developed and developing. Indian exports of books, printed pamphlets, newspapers, periodicals, job printing and printed materials during 2004-05 was estimated to be worth $550 million.
Quoting the Chamber of Indian Industry (CII) and Statistical Online India figures, Chakraberti said the publishing industry, one of the biggest in the world, was growing at the rate of 15 percent. Of this, one-third was English language publishing.
IANS
Article Src:- Zee News |
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It’s a known fact that India, today, is an emerging economy that is destined to achieve milestones, on various fronts, in the near future. However, for India, to acquire the status of a “developed” nation, it needs to create 100 million jobs, statistics point out!
Experts confirm, in an endeavour to achieve this mark, tapping the potential of the unemployed and exploring opportunities in the employment market, so that each and every person plays a crucial role in contributing towards the growth of the Indian economy is necessary. However, how can one create 100 million jobs? And the million-dollar question is which industry will absorb people and bridge the employment gap? While experts are busy contemplating the possibilities of the army, the railways, the government and the private sector to recruit, speculations about the difficulty in employing in such huge numbers continue to persist.
So, is there any solution to this problem? The answer is entrepreneurship! With several organisations understanding the importance of entrepreneurs and the ways in which they can create jobs for the unemployed, thus paving the way for an enriching economy, they are partnering with several expert bodies such as institutes, financial firms, etc. to foster all kinds of entrepreneurship- rural, ICT, social, etc.
Partners in growth
India has almost 300 million youth, but only 100 million jobs. Therefore, the country faces a 200 million employment gap. And Amy Christen, Vice President, Corporate Affairs & General Manager, Networking Academy Operations, Cisco Systems, Inc. believes that this gap can be bridged through self-employment and entrepreneurship-driven employment. Read More here http://economictimes.indiatimes.com/News/News_By_Company/Corporate_Trends/Promoting_entrepreneurship_in_India/articleshow/3939977.cms Reviews(0) - Add Review
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Dear Friends, The petition regarding NRI voting rights can be signed by accessing the link below..
http://www.petitiononline.com/VOTENRI/petition.html
The Mumbai Attacks on 26th November highlighted the ineffective and
inefficient State Legislature and Parliament, especially with regards to
complete lack of co-ordination in organizing an immediate rescue
mission,
preparedness to solicit support of the international community and
highlight the country's position in the wake of a national terror
strike,
a totally mismanaged defense budget with the armed and police forces
being very poorly equipped and trained, and
an extremely indifferent attitude to the way domestic security and
national intelligence infrastructure is monitored
These individuals, however, are in the position of power because of our
choice - either an explicit choice expressed by our vote or an implicit
choice in the absence of our vote. It is thus up to each one of us to
ensure that we exercise our franchise and weed out the non performing
social servants from our houses of power.
AT PRESENT THE CONSTITUTION OF INDIA DOES NOT ALLOW NRIs TO BE ABLE TO
VOTE. HOWEVER, THERE IS A BILL IN THE PARLIAMENT FOR THE LAST TWO YEARS
WHICH ADDRESSES THIS VERY POINT. The Representation of the People
(Amendment), 2006 Bill proposes that NRIs be registered and permitted to
vote. THE TERM OF THE 14th LOK SABHA EXPIRES IN MAY 2009. If the amendments
to the Representation of the People Act are not enacted before the expiry
of the term of the current government, the Indian diaspora will yet again
be devoid of its right to vote in the General elections of the country, not
to mention that the Bill will go into suspension. The new government and
Parliament will have to take up the issue afresh again.
We, therefore need to ensure at the earliest that the revised Bill IS
introduced in Parliament and enacted as a priority in the upcoming budget
session of the Parliament (budget session of 2009)
To help us get the Bill enacted please sign this petition. Please forward
this email to all NRIs you know.
Looking forward to full hearted support from each one of you, PS: The bill can be found on http://indiagoes2vote.com/resources/Representation+of+People+Act+2006.pdf and a copy of the Standing Committee's report can be found on http://indiagoes2vote.com/resources/Standing+Committees+Report+on+the+Bill.pdf Reviews(0) - Add Review
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Slumdog Millionaire has broken the UK box office record for the most successful second weekend. Following its success at the Golden Globes and BAFTA nominations, Danny Boyle's film took £2.6 million, a 44% increase on its opening weekend. Will Smith's Seven Pounds settles for second spot, while last week's number one Role Models slips to third. (news From Digitalspy) Slumdog Smashes Second-week Takings Record21 January 2009 4:04 AM, PST | From wenn.com | See recent WENN news Award-winning movie Slumdog Millionaire has surged to the top of the U.K. box office chart with a huge increase in takings - beating the record previously set by Billy Elliot. The film, directed by Danny Boyle, saw its profits soar by 47 per cent to $8.6 million (GBP6.2 million) in its second week of release, catapulting it into the number one spot ahead of Will Smith's new drama Seven Pounds. Seann William Scott and Paul Rudd's comedy Role Models fell from first to third, while My Bloody Valentine 3-D debuted at number four. The top five was rounded out by Kate Hudson and Anne Hathaway's romantic comedy Bride Wars. Dave Thurston, managing director of Nielsen Edi, the industry body that monitors box office sales, praised Slumdog Millionaire for setting a new U.K. record. He says, "It's incredible - 47 per cent is the biggest ever increase for a U.K. saturation release - it really is a box office phenomenon, breaking the record previously held by Billy Elliot's 13 per cent. It is clearly a hit." Reviews(0) - Add Review
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