June 10 Pages 27-40

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Singapore-based Global Airline Group Cuts 2011 Profit Forecast

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SINGAPORE (NYT): Global airlines cut their 2011 profit forecast Monday by more than half, to $4 billion, as high oil prices and turmoil in Japan, North Africa and the Middle East weigh on the industry’s recovery.

The International Air Transport Association, which represents most global carriers, also warned of a looming trade war if Europe moves ahead with plans to force airlines to join an emissions trading program next year.

Under the Emissions Trading Scheme, the European Union would force carriers to buy permits for each ton of carbon dioxide they emit above a certain cap. The Union has offered to exempt airlines based in countries that can prove they are taking equivalent steps to cut emissions.

Representatives from developing countries criticized the proposed rules as unfair.

“We do not have the same level of sophistication or maturity in trading

of carbon credits, and therefore any such new policy or levy on Indian carriers flying to Europe would be unfair,” said Vijay Mallya, chairman of Kingfisher Airlines of India. “Now it’s a government-to-government matter, not an airline-specific matter.”

The China Air Transport Association contended that the program would cost Chinese airlines more than $100 million in the first year and more than triple that by 2020.

“I believe we have to take legal action,” said Wei Zhenzhong, secretary general of the group, adding that Air China was preparing a legal challenge. The U.S. industry group, the Air Transport Association of America, is also challenging the plan in E.U. courts.

Airlines have said that the program, designed to tackle growing emissions from the aviation industry, would only increase costs and add to pressures already caused by the sluggish global recovery.

“The efficiency gains of the last decade and the strengthening global economic environment are balancing the high price of fuel,” the international association’s director general, Giovanni Bisignani, said at the group’s annual meeting in Singapore.

“But with a dismal 0.7 percent margin, there is little buffer left against further shocks,” he said.

The association’s $4 billion profit forecast compares with the $8.6 billion forecast March 2, just before an earthquake and tsunami in Japan led to a crisis at a nuclear power station. Since then, the uprisings in the Middle East and North African have spread, and oil prices have reached well above $100 a barrel.

The new forecast would also mark a drop of more than three-quarters from the industry’s estimated 2010 profit, which was raised to $18 billion from $16 billion.

Economists say the industry’s outlook is a guide to the strength of cyclical recovery in developed

markets and growth in emerging economies, which rely heavily on air transportation.

Airlines rebounded faster than

expected from recession last year, helped by higher traffic and a drive

Airlines rebounded faster than expected from recession last year, helped by higher traffic and a drive to keep a lid on spare capacity. But a far too rapid expansion in capacity, a series of external shocks and higher oil prices have hit the industry hard this year

continued on page 28

Friday June 10, 2011

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28 Indo American News • Friday. june 10, 2011 ONLINE EDITION: www.indoamerican-news.com

Global Airline Group Cuts 2011 Profit Forecast

to keep a lid on spare capacity. But a far too rapid expansion in capacity, a series of external shocks and higher oil prices have hit the industry hard this year.

The International Air Transport Association is forecasting an average oil price in 2011 of $110 per barrel, up nearly 15 percent from $96 last year, adding to the incentive for airlines to raise fares or fuel surcharges to cover the rising cost of doing business.

Qantas Airways was “looking at more increases going forward,” its chief executive, Alan Joyce, said in an interview. “Hedging just gives you time.”

The international group also warned that capacity was set to expand 5.8 percent in 2011, outstripping a 4.7 percent increase in demand.

Mr. Bisignani has said that a lack of discipline could dent the industry’s recovery as airlines jostle for market share.

continued from page 27

Kingfisher in Talks with Investors on Depository Issue: Vijay Mallya

SINGAPORE (TOI): With jet fuel prices starting to move downwards, Kingfisher Airlines has resumed talks with investors for issuing global depository receipts (GDR) to raise around $300 million, its owner Vijay Mallya said.

“We had to postpone GDR issue as the fuel prices were going sky

high. When we had planned this out, it was on the basis of the fuel prices remaining at around $90 per barrel. But the prices shot up to $120. So clearly, it had to be postponed. Now with the fuel prices coming down, the investors are engaged with us,” he said.

The carrier had planned a GDR issue in December last year to reduce its debt but had failed to do so as its stock prices began slumping.

The company has appointed Citi, JP Morgan and CLSA as its

merchant bankers.Mallya, who is here to attend

the Annual General meeting of the International Air Transport Association (IATA), also announced that his carrier would join the ‘oneworld’ alliance of airlines in February next year.

Confirming this, ‘oneworld’

CEO Bruce Ashby said, Kingfisher and Europe’s 5th largest airline ‘airberlin’ have already signed agreements to become members-elect to join the alliance early 2012.

Malaysian Airlines joined today as a full-fledged member of the alliance.

Mallya said he would “continue to press the government to review its aviation FDI policy” to allow foreign airlines to pick up stake in Indian carriers.

India Approves $4 Billion Boeing Military DealNEW DELHI (BB): India on

Monday cleared a more than $4.0-billion deal to buy military transport planes from Boeing in the biggest ever defence deal between New Delhi and an American firm, officials said.

The agreement for the C-17 Globemaster III planes, used for transporting heavy equipment, was cleared at a meeting of the government’s cabinet committee on security affairs, a senior government official said.

The Indian defence ministry declined to comment but the official, who spoke on condition of anonymity, said that the cabinet gave its clearance to buy 10 C-17 aircraft.

He said the procurement would be done as a government-to-government sale and that Boeing would have to invest 30 percent of the contract amount to set up defence-related facilities in the country.

The Indian air force was also planning to place an order for an additional six C-17s after finalising the initial order for 10 aircraft.

The C-17 advanced airlifter can carry large combat equipment and troops or humanitarian aid across international distances to small airfields anywhere in the world, according to the company.

Monday’s approval came two months after New Delhi kicked out US firms Boeing and Lockheed Martin from a race among six

global aviation giants to sell 126 fighter jets worth almost $12 billion dollars to India.

India shortlisted Typhoon Eurofighter of the European Aeronautic Defence and Space Company (EADS) and Rafale of French Dassault after removing Boeing, Lockheed, Russia’s MiG builders and Sweden’s Saab from the race for the warjet deal.

In January 2009, India signed a $2.1 billion deal with Boeing to buy six maritime surveillance aircraft for its navy.

India, which in February boosted military spending to 1.65 trillion rupees ($36 billion) for the financial year to March 2012 from 1.47 trillion rupees the previous year, plans to buy hundreds of helicopters and other aircraft.

According to the Stockholm International Peace Research Institute think tank, India over the last five years was the world’s biggest importer of weapons.

India is upgrading its million-plus military with hardware worth tens of billions of dollars to protect its boundaries.

It has also begun honing homeland security since the 2008 attacks by Islamist gunmen which left 166 people killed in India’s financial capital Mumbai.

India in 2008 agreed to buy six Hercules C-130J transport planes from Lockheed for $962 million, then the country’s biggest ever military aircraft deal with the

United States.Pakistan and India are both

nuclear-armed rivals, have fought three wars since their independence from the British in 1947.

China, India’s northern neighbor also has increasing tensions with India.

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South Asian Nations: A Return to Malthusian Gloom?By Iy Iy rfan HusaIn

KARACHI (Dawn): A harried housewife t ry ing to make ends meet in Karachi could be excused for being ignorant of the global forces that are inexorably squeezing the family budget. She would be equally unmindful of environmental and demographic changes that are fuelling inflation, officially running at 14 per cent.

The budget announced by the finance minister offers our fictional housewife no relief, just as his predecessors failed to do. But to be fair, there is little he can do to offset the impact of spiralling food prices that are hitting consumers around the world.

However, Americans and most Europeans spend around 10pc of their disposable income on food, while nearly 40pct of family budgets in South Asia are allocated for nourishment. Thus, people fortunate enough to be living in developed countries are less affected by inflationary trends.

A recent study for Oxfam has warned that the prices of wheat, rice and meat are expected to rise by around 30pc in 2020, and

70pc by 2050 in real terms. By the middle of the century, the world`s population will be some nine billion, a rise of two billion over the present number. Meanwhile, water availability per capita is expected to fall drastically, as glaciers melt due to global warming, and rainfall

becomes more erratic.At the same time, demand for grain

and fodder are rising inexorably as more and more people in developing countries change their dietary habits, and switch to eating more meat. Simultaneously, rising oil prices make the production of

bio-fuels more economically v i a b l e . T h e o u t p u t o f edible produce i s r e d u c e d , thereby pushing up pr ices as profitable crop is cultivated.

S u d d e n l y , countries like China that were l a rge ly se l f -suff ic ien t in food are having t o i m p o r t food. Another disturbing trend is the acquisition of large tracts o f l a n d s i n other countries t o a s s u r e food security. According to the Guardian, China signed an agreement with Patagonia in Argent ina to lease nearly 800,000 acres, a l o n g w i t h irrigation rights and a concession a t t h e l o c a l port. A Chinese corporation has also announced

that it is set to acquire around 600,000 acres in the Philippines.

Amer i can and European corporate giants have entered into similar agreements with developing countries around the world to corner the global market in soya and other major crops and

oilseeds. In Ukraine, huge fields owned by multinationals are farmed using enormous unmanned tractors guided in straight lines by signals from satellites.

Four giant conglomerates control a large chunk of several major crops, with annual sales running into the hundreds of billions of dollars. International food prices are set in the Chicago futures and exchange where dealers buy and sell options without ever seeing a sheaf of wheat, or a bag of sugar.

Es tabl ished in 1848, the exchange became a world centre for food trading after it was deregulated in 2000. Investment in the commodity index rose from $13 billion in 2003 to $317 billion in 2008.

Our housewife in Karachi must understand that items produced in Pakistan should cost more every day, she forgets that in this globalized, connected world, prices are no longer isolated. Even though the government often imposes restrictions on the movement of certain food items to prevent speculation or smuggling, it cannot force traders to sell at a lower price.

Thus, if international prices of sugar are rising in Chicago, not even a Supreme Court suo motu notice will keep them down in retail outlets across Pakistan. Indeed, artificially low prices enforced by the dwindling power

of the state will only succeed and encourage the creation of a black market.

So where does this leave a consumer in a developing country? Between a rock and a hard place. With fuel and transport prices continuing their steady rise, the poor become even more vulnerable.

The number of malnourished people, according to the Food and Agriculture Organisation (FAO), has risen from around 850 million in 2005 to slightly over a billion now. Significantly, nearly 1.3 billion people survive on less than $1.25 per day.

One of the major reasons for this rise in the number of the hungry is the increase in food prices; the other is the global recession that has increased unemployment. More land is used for growing profitable crops, and water is diverted towards corporate farming, the poor get even more marginalized.

At a time when we should be seeking to make farming more productive through innovation, we find that Pakistan spends 30pc less on agricultural research than Bangladesh. Pakistan lags far behind in inventing and developing new seeds, and in training our farmers to utilize land, water and fertilizers better.

Tim Lang, a professor at London`s City University, writes in the Guardian: “… there is agreement we are entering a new era in which basic agricultural commodity prices are rising after decades of falling… To the west, the great success of the food story in the second half of the 20th century was lower prices. This allowed spending to diversify and fuelled the consumer boom. Proportionately less outlay on food meant more for clothes, homes, holidays and fun.

Thomas Malthus, the 18th century political economist, propounded a grim theory in which whenever population outstripped food production, starvation would cull the numbers until the equation was restored. Over the last two centuries, his prediction has been proved wrong by improved yields and the development of marginal lands.

According to Oxfam, we still produce enough food for everybody, and if it could be equitably distributed, all of mankind would get the 2,700 calories necessary for a healthy life. But as our housewife in Karachi will attest, you need the money to buy those calories.

A Pakistani housewife selling nuts in the sweltering heat on the roadside, making a living for her family



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Indian Company unlocking Energy through Peat in Rwandaunlocking Energy through Peat in Rwandau

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RWANDA (Independent): Punj Lloyd, an Indian company, is expected to invest approximately $300 million to produce 100Mw from peat, a coal-like fossil fuel, which can be used as a source of energy for households and industries. Rwanda, according to local authorities, has huge deposits of peat mined in Rwabusoro.

Eng. Colette Ruhamya, Rwanda’s State Minister in charge of Energy and Water told The Independent that, “among the investors interested in investing in energy sector, we have learnt that Punj firm is a potential investor.”

Currently only the Rwanda Investment Group (RIG), in partnership with government, invests in peat producing 15Mw. Punj Lloyd’s investment is seen as especially valuable to drastically bring down energy prices.

“We see it as a quick win, the contribution will be very high,” Ruhamya says. “If we get cheap power, prices are likely to go down.”

Rwanda’s high dependence on biomass (wood and charcoal) and hydro-electric power as a source of energy, positioned the country as one of the economies with the highest energy costs in Africa.

Rwanda’s electricity generation capacity increased by 45.3 per cent from 41Mw in 2004 to 75Mw in 2010 and load shedding going from approximately 50 per cent at peak hours in 2004 to zero per cent in 2010.

The figure of generation capacity will be expanded to at least 130MW by 2012 mainly through investment in hydropower and methane gas projects.

The sector had a boost from Rwanda’s Urgent Electricity Rehabilitation Project (UERP) t h rough the In t e rna t i ona l Development Association (IDA), which financed and technically

supported the construction of Jabana Heavy Fuel Oil Power Plant, a new 21 megawatt (MW) power plant.

Punj Lloyd has already undertaken a resource availability study and found it viable to proceed.

Negotiations are underway to see the company will extract peat from its deposits. “The remaining work is to get concession for peat and negotiate a power purchase agreement,” says Clare Akamanzi, Chief Operations Officer in Rwanda

Development Board.The company’s interests are

believed to be a result of President Paul Kagame’s visit to India and visits by Prime Minister Bernard Makuza and other government officials to Thailand, India, China and Malaysia. ”

Emerging economies are our new focus,” says Akamanzi. “[We are] changing from traditional markets and giving attention to India, Middle East, and China.”

Punj Lloyd recently said that they intend to position Rwanda at a competitive level through supporting the infrastructure.

“It is also going to require a lot of power and we are looking at power as the number one priority. After that we will follow with other investments,” Punj said.

The Indian firm is also interested in exploring many other sectors in Rwanda such as technology, training and human capital in order for Rwanda to enjoy high skilled human resources for secondary and tertiary care. Punj Lloyd is also hoping to invest in healthcare--to develop Rwanda into a high end health hub in East Africa--real estate, vocational training and even agro-processing of passion fruits, avocado and other horticulture for both domestic consumption and exports.

Punj Lloyd is expected to submit the final feasibility studies by the start of June 2011, a move that will determine how much concession needed.

ArunYadav, Indian Minister of State for Agriculture and Food Processing Industries said the focus would be the development of food processing units in Rwanda.

Atul Punj, the Chairman of Punj Lloyd Ltd – a diversified international conglomerate offering EPC services in Energy and Infrastructure is planning to open power, healthcare, horticulture and food processing units in the State of Rwanda, Africa, per their viability study

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continued on page 32

Old Buildings in India’s urban Districts Opting for a MakeoverBy soBIa KHan & anuradHa

HImatsIngKaBANGALORE/KOLKATA

(ET): While swanky residential complexes and retail razzmatazz have caught the public imagination, old crumbling buildings in the country are on a retrofitting spree.

If a third of the current Grade B office space stock in cities across India is retrofitted into Grade A space, an additional Rs 290 crore of revenue can be generated, says real estate consultancy Jones Lang LaSalle (JLL) in a report titled ‘Retrofitting India’s Central Business Districts’.

Central business districts (CBDs) are gradually losing their sheen because of their inability to offer Grade A buildings at competitive rates, and retrofitting, which involves raising the economic life of existing old buildings, is emerging as the preferred option.

According to the JLL analysis, owners and investors of CBD office space have already capitalized or are planning to capitalize on the market recovery by retrofitting their properties.

For instance, India’s largest consumer product firm Hindustan Unilever is retrofitting its self-owned building in Mumbai’s CBD area of Churchgate to enhance revenue generation. The building that offers 154,320 square feet (sq ft) of space has been vacated and HUL has moved its operations to their new facility to Andheri East, in the northern suburbs of the city.

“As part of normal business process we continuously review our assets including real estate to unlock business value from idle assets. We have suitably renovated our erstwhile head office at Churchgate, Mumbai and are exploring various options for realising optimal business value from this property,” said a spokesperson from HUL.

Persons who work with various consulting firms who evaluate real estate say the HUL building will fetch the company between Rs 500-600 crore if given away on a perpetual lease.

Explaining the rationale behind the retrofitting drive, Goutam Chakraborty, regional director, commercial lease at Colliers International says: “A majority of office buildings in India’s central

business districts are at least three decade old dilapidated structures. They also have smaller floor plates and lack plug ‘n’ play infrastructure. Their rental values too were 40% higher compared to those located in the peripheral business districts.”

Hence, CBDs started losing out

to neighbouring micro-markets offering large office premises reflecting the new corporate ethos of efficiency and aesthetics including swift elevators, central air-conditioning and parking bays with rentals at least 20-38% lower than Grade A buildings, claim real estate brokers.

However, all is not lost for what were and still are the country’s central business districts. Private sector insurance companies and banks, keen to set up an additional office are turning out to be the new tenants in these locations.

Demand for offices in CBD areas, real estate consultant’s claim, continue to be high for various reasons like limited supply of new office space, established business ecosystems, accessibility to services, and well connected infrastructure and a prestigious address.

“Which is why rentals that had dipped 20% during the recession have already inched up by 5-10% in the first half of this year,” said Amber Maheshwari, director investment at DTZ India. Though CBDs have a huge potential to retrofit their existing old stock, it is

not always a profitable proposition as the builders barely break-even the expenses incurred.

The chairman of Keventer Projects, MK Jalan, who had joined hands with the Future Group to remodel the Kolkata Municipal Development Authority (KMDA)

property in Sealdah into a retail-cum-commercial complex said, “The newly retrofitted property in Sealdah, is a long-term investment and will definitely yield desired results over the next 8-10 years once all 50,000 sq ft of office space is either leased out or sold.”

Incidentally, KMDA handed over the property to the consortium under a 99-year lease, renewable for another 99 years. Kaustuv Roy, executive d i r e c t o r a t C u s h m a n & Wakefield, says retrofitting has w o r k e d o u t positively for some. “There are others who are confident of being able to make it up over the next 10-15 years.” he adds.

Many of the buildings in the Central Business District are looking to be retrofitted with more modern amenities and equipment to make it more commerically viable and efficient. Rentals have dipped during the first half of 2011 and landlords realize they have to remodel their buildings to benefit long term

India is in a Conundrum Made by Bumper Harvests of Wheat, Rice

NEW DELHI (ET): Indian farmers have much to celebrate this year with a bumper wheat harvest. As predicted by the ministry of agriculture, wheat farmers have begun to harvest what is shaping up to be a record crop, projected

at 84.27 million tonnes. We are growing more wheat than ever before. The earlier record of 80.8 million tonnes of wheat production was achieved in 2009-10.

Estimates show that foodgrain production including wheat, rice, pulses and coarse cereals will also see a surge, and will go up to 235.88 million tonnes this crop year as compared to the earlier record of 234.47 million tonnes achieved way back in 2008-09.

The momentum is said to continue with the timely arrival of southwest monsoons, auguring well for the sowing of wheat, coarse cereals and oilseeds. All of this should sound like good news to a country that is one of the world’s largest

wheat consumers, but there is an underlying sense of despondency among farmers and economists alike.

India today is on the brink of a conundrum brought about by the unusual ‘problem of plenty’. In a country still reeling from the effects of high food inflation, the sudden surge in agricultural output is bringing with it a unique set of challenges. The situation has

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India is in a Conundrum Made by Bumper Harvests of Wheat, RiceIndia is in a Conundrum Made by Bumper Harvests of Wheat, RiceIndia is in a Conundrum Made by

continued from page 31been significantly aggravated by

the state of our struggling storage infrastructure, and the complex nature of our procurement systems. At risk are not only farmers’ livelihoods but also the overall health of the economy.

A key part of the current problem lies with the state procurement system. Despite strengthening of the procurement mechanism of state governments, thousands of farmers have been waiting in line for their produce to be sold. Unable to wait longer, farmers are being forced to sell their precious crop to traders for less than the minimum support price (MSP). According to several reports, wheat’s procurement price in several parts of Gujarat, Bihar and eastern UP has fallen to as low as Rs 1,000-1,050 a quintal, less than the state-set MSP of Rs 1,170. The situation is no different for other crops like sugarcane, cotton and rice. The low price is already

hitting small and marginal farmers as they don’t have holding capacity. Cash crop farmers dependent on normal crop are badly impacted.

Compounding this situation is the government’s policy on exports. For example, in the case of cotton, exports have been permitted to the extent of only 55 lakh bales out of a total production of 330 lakh bales (approximately 17%), as against last year when exports were permitted up to about 30% of production.

The second problem comes with the government being ill-equipped to efficiently store and use this bumper crop. To counter the problem of food inflation the government has banned exports of wheat and therefore ends up being the biggest buyer from the farmers. However, pathetic storage infrastructure results in enormous volumes of grains rotting every year.

A H M E D A B A D ( E T ) : Diversified Adani group controlled Rs 2,106 crore Adani Power emerged as country’s largest private termal power producer with commissioning of its sixth generation unit at Mundra where the company is commissioning 4,620 MW of coal based plant.

Adani Power now operates 2,640 MW of total generation capacity.

Tata Power, Essar Power and Lanco Infratech are some of the leading private power producers with plants running on different fuels.

During current fiscal, Adani Power is planning to add five more super critical 660 MW of power generation units at Mundra in Gujarat and Tiroda in Maharashtra at an investment of about Rs 16,000 crore. Besides these, Adani Power will also commission a solar power plant with a capacity to generate 40 MW, which will be expanded to 100 MW in next couple of years. “Adani Power intends to commission 20,000 MW of generation capacity by 2020. However, we will achieve our target

much ahead of the deadline,” said Adani Power CEO Ravi Sharma. He added that financial clouser for 13,200 MW of the planned capacity of 16,500 MW has already been achieved. “Together, we will have over 6,000 MW of power generation capacity,” said Mr Sharma.

Meanwhile, Adani Power has inked long term power purchase

agreements for 7,200 MW with state utilities of Gujarat, Maharashtra and Haryana. Commenting on the fuel linkages, Mr Sharma said, “Adani Group has promoted integrated model for its power projects. The group companies have interests in coal mining, transportation, ports and generation. And

hence, fuel linkage and costs are within control to meet 25 year long obligation to supply power under the long term agreements.”

Adani Power is implementing power projects for generating 16,500 MW of power at Mundra (4620 MW), Bhadreshwar (3300 MW), Dahej (2640 MW), Tiroda (3,300 MW), Kawai (1320 MW) and Chhindwara (1320 MW).

It will evacuate electricity from the Mundra power plant via a 400 kV transmission line from Mundra to Dehgam in Gujarat covering 430 km and a dedicated 500 kV high voltage direct current line from Mundra to Mohindergarh in Haryana covering 1,000 km.

Lagarde Set to Get India’s Support for IMF Top jobNEW DELHI (BST): India will

in all likelihood support French Finance Minister Christine Lagarde for the job of new International Monetary Fund.

Lagarde, on a day’s v i s i t t o India, met F i n a n c e M i n i s t e r P r a n a b Mukherjee t o d a y and got a favorable response. Mukherjee

said he would even talk to Mexico’s central bank governor, Agustin Carstens, to dissuade him from contesting and build a consensus around Lagarde.

When the post had fallen vacant and Lagarde, backed by some European countries, announced her candidature, government representatives had said it was time to end the practice of reserving the post for someone from Europe.

According to sources, Mukherjee today told Lagarde that New Delhi “appreciates” her credentials.

However, publicly, he said, “There is no assurance. We are working on a consensus.” Lagarde said, “We had an excellent meeting.

Lagarde also met Prime Minister Manmohan Singh and Planning Commission Deputy Chairman Montek Singh Ahluwalia.

New Delhi’s decision to support Lagarde is based on the fact that India enjoys good relations with France, a major power in Europe.

Mukherjee also told Lagarde that 65 years had passed since IMF was founded and the west should understand the “new realities” in the forum. India’s voting share in IMF is 2.72 per cent.

Top finance ministry sources told

Business Standard that while the UPA leadership was keen to see that the post did not remain with only Europe, it was aware of the weight of tradition, under which IMF is headed by a European and the World Bank by an Americ

China has already broken the unity among the BRIC nations by secretly endorsing Lagarde’s candidature.

IamBusinessnews

Christine Lagarde

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Indo-American Siddhartha Mukherjee Wins Pulitzer Prize for Non-fiction

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Did You Know? 1. 99% of the solar systems mass is concentrated in the sun.2. A pregnant goldfish is called a twit.3. A shark is the only fish that can blink with both eyes.4. A skunk can spray its stinky scent more than 10 feet.5. About 3000 years ago, most Egyptians died by the time they were 30.6. About 70% of Americans who go to college do it just to make more money. [The rest of us are avoiding reality for four more years.]7. All porcupines float in water.8. Almonds are a member of the peach family.9. Ancient Egyptians slept on pillows made of stone.10. An animal epidemic is called an epizootic.11. An average person laughs about 15 times a day.12. An iguana can stay under water for 28 minutes.13. An ostrich’s eye is bigger than its brain.14. Armadillos have four babies at a time and they are always all the same sex.15. Armored knights raised their visors to identify themselves when they rode past their king. This custom has become the modern military salute.16. Armadillos are the only animal besides humans that can get leprosy.17. All 50 states are listed across the top of the Lincoln Memorial on the back of the $5 bill.

NEW DELHI (IF) : When Indian American Siddhartha Mukherjee cancer specialist called his mother to say he had won the Pulitzer, she thought he was pulling a fast one!

‘It came as a complete surprise. Siddhartha called us at 1 and asked if we were awake. I said of course not - senior citizens don’t stay up so late. Then he told me that he has won this prize and I just couldn’t believe it,’ Mukherjee’s mother Chandana, who lives in Delhi, said.

Siddhartha, 41, is a New York-based cancer specialist who won this year’s Pulitzer in the general non-fiction category for his book ‘The Emperor of All Maladies: A Biography of Cancer’.

The Delhi-born doctor’s book is a worldwide bestseller.

I n t h e b o o k , Siddhartha examines cancer with a cellular biologist’s precision, a historian’s perspective and a biographer’s passion, says the publisher. The result is an eloquent chronicle of a disease humans have lived with - and perished from - for more than 5,000 years.

A resident of Safdarjung Enclave, homemaker Chandana said they have been flooded with calls since early Tuesday after the news broke. ‘There have been a lot of calls.’

Asked if they would fly down to meet their son to celebrate the occasion, she said would go only in June.

‘We had planned our vacation well in advance and have our tickets booked for June. So we are not advancing that. We will be going

for a month or a month-and-a-half. Then the celebrations are going to happen with Siddhartha, his wife and the kids and his wife’s family,’ Chandana said.

Friends and relatives are pouring in to congratulate the proud parents.

Siddhartha’s wife, Sarah Sze, is a sculptor. He has two daughters - Leela, aged five-and-a-half, and Arya, who is just over a year old.

‘Leela is very shy and doesn’t like to speak on the phone. But the family is obviously very excited,’ the doting grandmother said.

Siddhartha’s sister is married and settled in Dhaka.

Siddhartha is an assistant professor of medicine at Columbia University and a cancer physician at the CU/NYU Presbyterian Hospital.

A Rhodes Scholar, he graduated from Stanford University, University of Oxford and from Harvard Medical School.

He was a Fellow at the Dana Farber Cancer Institute and an attending physician at the Massachusetts General Hospital and the Harvard Medical School.

Dr. Siddharta Mukherjee won the Pulitzer in the general non-fiction category for his book, “The Emperor of All Maladies: A Biography of Cancer”

Foundation Stone laid for Overseas Indians Centre

NEW DELHI (IF): Overseas Indian Affairs Minister Vayalar Ravi Thursday laid the foundation stone here for a ‘Pravasi Bharatiya Kendra’ - intended for discussions and research on the issues of Indian abroad to strengthen ties with the 27 million strong diaspora in 130 countries.

‘This kendra is going to be a major centre of activity for ‘Pravasi Bharatiyas’. The centre will have exhibitions and library and other facilities for the overseas Indians,’ Ravi said in his address on the occasion.

The 9,800 square-metre centre, in the diplomatic enclave of Chanakyapuri, would be used to host a number of seminars, exhibitions and will provide a forum for discussion on the issues relating to the Indian diaspora, he said.

‘We want to make this centre a regular place for discussions and seminars on the issues and matters of the overseas India, their contribution and close association to the country,’ Ravi said.

The building will also have a research centre on Indian diaspora studies.

‘The building will have facilities needed for enhancing connectivity between India and its diaspora. The centre will also have a research

centre on diaspora studies with specific research program,’ Overseas Indian Affairs Secretary A. Didar Singh said.

The centre is being built by the National Building Construction Corporation (NBCC) at a cost of Rs.80 crore ($17,391,304) and to

be completed by April 2013.‘The NBCC chairman has

promised me that that he will complete the building in time and I promise him that I will pay him on time. My idea is to have the building ready by next ‘Pravasi Divas’, if it is possible,’ quipped Ravi.

The centre will also host an Indian cultural centre, auditorium, permanent exhibition space, guest rooms and business centre.

Overseas Indian Affairs Minister Valayar Ravi laid the foundation stone for Pravasi Bharatiya Kendra, a home for Indians abroad to help strengthen their ties with their motherland

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Southern Import Asin is Not Yet ‘Ready’ for Tabloid Journalism

This Week, That AgeJune 6, 1850 - Levi Strauss made his 1st blue jeansJune 6, 1716 - 1st slaves arrive in LouisianaJune 6, 1882 - Cyclone in Arabian Sea (Bombay India) drowns 100,000June 6, 2004 - Tamil is established as a Classical language by the President of India, Dr. A.P.J. Abdul Kalam in a joint sitting of the two houses of the Indian Parliament. June 7, 1893 - Gandhi’s first act of civil disobedience.June 7, 1955 - India premier Nehru visit USSR June 8, 1786 - Commercially made ice cream 1st advertised (Mr Hall, NYC) June 8, 1824 - Washing machine patented by Noah Cushing of Quebec.June 9, 1931 - 1st showing of a Donald Duck cartoon. June 9, 1943 - “Pay-as-you-go” (withholding) US income tax deductions authorized. June 10, 1985 - Coca Cola announces they’d bring back their 99-year-old formula

BSouthern Import Asin is Not Yet ‘Ready’ for Tabloid Journalism

BSouthern Import Asin is Not Yet ‘Ready’ for Tabloid Journalism

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VSouthern Import Asin is Not Yet ‘Ready’ for Tabloid Journalism


y VySouthern Import Asin is Not Yet ‘Ready’ for Tabloid Journalism




arunSouthern Import Asin is Not Yet ‘Ready’ for Tabloid Journalism

arunSouthern Import Asin is Not Yet ‘Ready’ for Tabloid Journalism



izirSouthern Import Asin is Not Yet ‘Ready’ for Tabloid Journalism

izirSouthern Import Asin is Not Yet ‘Ready’ for Tabloid Journalism

MUMBAI (MM): Asin Thottu-mkal, the import from the South, who made an entry into Bollywood with Ghajini opposite Aamir Khan, will now be seen opposite Salman Khan in Ready which released on June 3.

We got a glimpse into Asin’s mind at the recording room in the T-series office. Excerpts:

What made you take a break after London Dreams?

The break wasn’t intentional, but I wanted to work with a team of new people. I felt Ready was apt as my next film.

What is your role in Ready?I play the role of Sanjana, who

is close to her family but faces

certain problems with her uncle Southern Import Asin is Not Yet ‘Ready’ for Tabloid Journalism

certain problems with her uncle Southern Import Asin is Not Yet ‘Ready’ for Tabloid Journalism

when she returns to India. While she’s dealing with the problem, she comes in contact with Prem (Salman Khan). He comes forward to help her with that problem and how they fall in love in the midst of this entire thing.

How was it working with Salman Khan again?

We gelled well during London Dreams, so while doing Ready we already shared a good rapport and he was very supportive and chilled out. He is very comfortable with me as I get his straight-faced sense of humour.

Salman Khan is said to be very short-tempered. How was it on the sets?

I personally never expe-rienced his n o t o r i o u s side. He is ve ry pure from his heart and direct with people. In fact, he’s very encouraging t o n e w talent. A lot of strugglers came on the sets with their p o r t f o l i o s to get his guidance and he took a few talented ones

under his wings.Which is your favorite track from

the album?I love dancing and luckily, I got a

chance to shake my booty in ‘Dhinka Chika’ (smiles). It’s my favorite song. The song has peppy beats and is shot colourfully.

Are you disappointed you’re not there in the ‘Character Dheela’ song?

‘Character Dheela’ is the first song in the film which introduces Prem (Salman’s character). It would not make sense for me to do it because it is much before the introduction of my character (Sanjana).

How different are Salman and Aamir in terms of their working styles?

Salman is very spontaneous. There is not much of a discussion before the scene. You have to be alert and react to whatever he delivers during the shot. Meanwhile, Aamir would discuss the scene before the camera is rolling. But he always gets the approval of the director first.

Do you plan to act only in commercial films?

I have no restrictions but the ideal situation for me currently is to grab a role in a commercial film with scope for histrionics, which is difficult.

What do you have to say about your rumor of dating Neil Nitin Mukesh?

People should not misunderstand our friendship. It’s just a figment of a journalist’s imagination. I am quite single.

What is one thing that you’re not

IamEntErtaIrtaIrta nmEnt



Arjun Atwal finishes tied 51st at the Memorial Golf Tourney

“I Am Not Satisfied Yet”: Tendulkar

Anand Wins Leon Masters for Eighth TimeNEW DELHI (The Hindu): World

champion Viswanathan Anand completed a comprehensive 4.5-1.5 victory over Spain’s Alexei Shirov to claim the Leon Masters rapid chess title for the eighth time at Leon, on Sunday.

In the six games, spread over three days, Anand won a game and drew the other on each day to stamp his superiority. Each player had 45 minutes per game plus 30 seconds increment for each move made.

On Sunday, with Anand needing just a draw to seal the title, both games were fought well. Anand won the fifth game in 41 moves to take the winning lead.

The inconsequential sixth game saw Shirov fight for pride but Anand gave nothing away and forced a 39-move draw with white pieces.

This was Anand’s record eighth triumph at this annual rapid chess destination. Anand’s previous triumphs came in 1996, 1999, 2000, 2001, 2005, 2006 and 2007.

The results:Vi s w a n a t h a n

Anand bt Alexie Shirov 4.5-1.5 (Game 1: Shirov drew with Anand; Game 2: Anand bt Shirov; Game 3: Shirov lost to Anand; Game 4: Anand drew with Shirov; Game 5: Shirov lost to Anand; Game 6: Anand drew with Shirov).

Viswanathan Anand

MUMBAI (Samachar): Sachin Tendulkar has almost every batting record that is there to be made under his belt but the iconic Indian cricketer says he is still not satisfied with his career as he considers

satisfaction the beginning of stagnation.

“When you win something or score a century you say you are happy, but not satisfied. Satisfaction is like engaging the handbrake and hoping a car moves forward,” Tendulkar told the latest issue of ‘Sky Sports Magazine’. (Also Read: Tendulkar is greatest: Richards)

“I am not satisfied yet with my career and what I have done, not at all. I feel the moment you start to feel satisfied, then it is only natural that you begin to cool down and lose it,” he explained. (Also Read: Sachin laughs off ‘emphatic 100th ton’ theory)

Tendulkar reiterated that he is not even thinking of retirement despite completing more than two decades in international cricket.

“I still love cricket as much as ever. It is my job, but it is also my passion. Cricket remains in my heart, I don’t need anything else to motivate me. I dreamed of playing for my country when I was young and it is still my dream, it is still fun for me,” the 38-year-old right-

hander said.“Life without cricket is

unthinkable,” he added.Tendulkar attributed his longevity

and recent success to a stricter fitness regime, not playing

Twenty20 Internationals and bowling only

sparingly.“ I

am still learning

about the g a m e . I

figure something out about my batting all the time, you have to keep your mind open. I learn all the time, those small adjustments, with your footwork or bat swing can

improve your game, I love doing that. You never

know everything. Mentally that makes you feel so good. That is the best form of preparation,” Tendulkar said.

R e c a l l i n g India’s recent

World Cup triumph after a gap of 28 years, Tendulkar said when the defining moment of his career finally arrived, he wasn’t in the middle of the field wielding his bat, nor was he even on the balcony watching his teammates.

Instead, he was on his own in the dressing room, his hands clasped together, his eyes closed as he prayed in silence.

He only knew India had won the World Cup when he heard that cathartic roar reverberate around the Wankhede Stadium in Mumbai as his captain, Mahendra Singh Dhoni hit the winning runs against Sri Lanka.

Tendulkar described the experience as “a different kind of feeling, a high, like living on a different planet, it felt as though I was flying.”

He had waited 22 years for this moment.

For all his personal records - and he boasts the most Test runs and Test centuries, and the most One-Day runs and One-Day centuries - Tendulkar wanted something

tangible, a trophy to lift, a medal to wear, and to win something as part of an Indian team.

Tendulkar had played in the previous five World Cups, but had fallen short each time. The experience left him feeling “shattered beyond words.”

His fellow players too laud the way Tendulkar has sustained himself at the top level.

“It has been fascinating watching the changes in his approach,” said teammate Rahul Dravid. “From being a master blaster, he is now a mistake-proof batsman.”

While he can’t control his body ageing, Tendulkar has increasingly sought to exert more control over his mind.

“You have to be still in your mind, and keep it blank.

It is also important to avoid any needless anger,” he said.

“Growing up, I picked up a lot from my father, who never lost his temper, and I tried to follow that, so I don’t lose my cool.”

This impenetrable mask doesn’t slip away from the cameras either.

“I have never seen him lose his temper in the dressing room, he has never thrown his bat around even when given out wrongly,” said Indian pace spearhead Zaheer Khan.

“Maybe he will have an extra bowl of ice cream, and that is when you realise he is pretty upset.”

DUBLIN, Ohio (IBN): Indian golfer Arjun Atwal carded a topsy-turvy one-under 71 in the final round to sign off tied 51st at the PGA Tour’s Memorial Championship here.

Atwal had four birdies and three bogeys, including one on the last

hole at the Murifield Golf course. The Orlando-based golfer ended his campaign with a total of one-over 289.

Atwal birdied the fifth, seventh, 15th and 16th but dropped bogeys on the sixth, 11th and 18th.

Steve Stricker (68) held off Brandt Jobe and Matt Kuchar, both of who charged up with rounds of 65 each, and won with a shot to spare despite

a bogey on the last hole.Stricker totalled 16-under 272

and Jobe and Kuchar were 15-under 273. Dustin Johnson (65) was fourth at 12-under 276 and Rory McIlroy (68) was 11-under.

Stricker had a two-shot cushion

when he came to the 18th hole, thanks to sand saves on the two previous holes.

On the final hole, he found the fairway bunker, hit his second shot short of the green, chipped to 20 feet and two-putted for bogey for his 10th career win.

Seven of his 10 wins have come after he turned 40.

Arjun Atwal, Indian golfer, tied 51st at the PGA Tour held in Ohio.

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3 339Indo American News • Friday, June 10, 2011 Online Edition: www.indoamerican-news.com

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Documents

June 10 Pages 27-40