This Ramzan enjoy LIVE Namaz, Naad, Hidayat and much more from Mecca and Medina

· Another first from Airtel for its esteemed customers
· Service also brings live audio feed from Ajmer Sharif and Jama Masjid, Delhi as well
· Quran Ayaat, Sehri Iftaar, Ramzan stories and recipes to light up Ramzan festivities also offered


Kochi:  Bharti Airtel, a leading global telecommunications company with operations in 20 countries across Asia and Africa, today announced the launch of its LIVE audio feed service that will bring the holy recitals of Namaz, Naad, Hidayat and much more from the sacred shrines of Mecca and Medina exclusively for its customers across the country during the auspicious month of Ramzan. Besides Mecca and Medina, the service will also bring LIVE audio feeds from the shrines of Ajmer Sharif and Jama Masjid, Delhi. The service will also bring Quran Ayaat, Sehri Iftaar, Ramzan stories and recipes of special dishes for Ramzan to lighten up the holy festivities.

Commenting on the launch of this service, Mr. Vikas Singh, CEO - Kerala and Tamil Nadu, Mobile Services, Bharti Airtel said, “At Airtel it’s our constant endeavor to bring relevant, affordable and unique content for our customers across the country. The fact that Airtel is the first and the only service provider to bring these live feeds from Mecca & Madina reiterates our commitment to provide the best to our esteemed customers. Besides the live feed, the service will also bring Naad, Hidayat, Quran Ayaat, Sehri Iftaar, Ramzan stories and recipes of special Ramzan dishes which will add up to the festivities.”
Airtel mobile customers across the country will now be able to use their mobile phones to experience the LIVE Namaz from the shrines of Mecca and Medina, Ajmer Sharif and Jama Masjid without travelling long distances. For subscribing to this unique service, Airtel mobile customers can dial 50786 and subscribe to the unlimited audio feeds at Rs.2 per day without paying any registration cost. The audio feed from Mecca and Medina would be deferred LIVE due to the difference in the time zone.

The LIVE audio feeds from these shrines are in line with Airtel’s efforts to bring relevant devotional content for its customers across the country. Airtel already offers live audio feeds from several major shrines of India including Sai Baba, Shirdi, Tirupati Balaji Temple, Haaji Ali, Mumbai, Mahakaleshwar Ujjain and Bangla Saheb, Delhi.

Lulu Blood Donation

LuLu hypermarket , one of the largest retail shopping chains in the GCC recently conducted recently blood donation campaign in association with Dubai Blood donation center. The event took place at three Lulu Hypermarkets at Barsha, Arabian centre and Quasis in association with Dubai blood donation center. More than 200 plus employees and customers of LuLu Hypermarket took part in the social cause to help foster a culture of voluntary blood donation. 

Mr Salim M.A Director LULU Group thanked all the employees and customers who participated in the event and added "this campaign was aimed at encouraging community members to come forward and voluntarily donate blood. We plan to conduct similar event every six months and continue to serve the local community and the society at large, which has always been high on our agenda. I also take this opportunity to thank and commend the efforts of Dubai Blood Donation Center for their admirable job in saving lives by maintaining ample stock of blood. 

The Campaign is a part of the Group's continuous effort to highlight the principle of cooperate social responsibility and support patients in need". 

CII OPPOSES ANNOUNCED HIKE IN POWER TARIFF IN THE STATE

The Kerala State Electricity Regulatory Commission’s decision to hike the power tariff over 30 % for all categories of consumers in the state will drastically hit the core industries in Kerala. Mr Umang Patodia, Chairman, Taskforce on Power, CII Kerala State Council and Managing Director, Patspin India Ltd stated that this will adversely affect the businesses, thereby shifting the burden to the general public, who are dependent on this sector.

The increased power tariff change has adversely affected the industrial operations of manufacturing sector in the state. Power is the major input for the manufacturing and MSME industry. Large scale manufacturing company’s consuming large scale power such as minerals, paper, textile etc are hardest hit. As it is, generally in Kerala, the cost of sourcing raw materials and source of employment is significantly higher,compared to the neighboring states.

Increase in power tariff will also drastically affect the sustenance and growth of manufacturing sector in Kerala and will most certainly lead to the eventual closure of many of the units. To support the growth and sustainability of existing industry, tariff shocks has to be avoided and any revision of power tariff must be in a graded manner over a 3 year period making it viable for the industry to survive.

Moreover, the current electricity tariff per unit is far higher than the cost of the same to the KSEB. This goes against the cross subsidy directions given by the Central Regulatory Authority.

CII is planning to request the Government of Kerala to come up with industry friendly manufacturing policy and Power Policies, which can facilitate industrial growth and also serve to attract investments into the state.With the main objective of the proposed Emerging Kerala being to showcase the investment opportunities available in Kerala; CII believes that the Government and the authorities need to ensure both the manufacturing and power policy which can attract both domestic and international investments to the state.

CII urges the Government to reconsider this drastic increase in electricity charge and to reduce the same in a manner as suggested above.

Monsoon Play Key Role in Agri Commodity Prices in Coming Months: JRG Wealth Management

 

July, 2012: JRG Wealth management, one of India’s leading financial services providers holds an impeccable track record in Commodity Broking industry for past 9 years. Its experienced research team with excellent analytical skills provide in depth analysis for every trade call whether it is Intraday, Positional, Arbitrage or Investment. JRG has won numerous awards in the last few years for its expertise in Agri Commodity. 

JRG Wealth Management analysis for the trend in Agri Commodities is that many Agri Commodity prices have moved up sharply in the past few months due to strong export demand, tight domestic supply and concerns of low rainfall that can affect the Kharif sowing. Amongst them, Soy Bean was the best performing commodity, which hit all time high of Rs. 4020 per quintal in futures market. It has gained about 60 percent in so far in 2012. Chana prices have also touched record high of Rs4500 per quintal due to strong seasonal demand and low arrivals in spot markets. Spices export rose 9 percent to 5.75 lakh tonnes in 2011-12.

The slow start of the monsoon in South-west has led to a deficit by about 30 percent in the month of June and coverage in northern states is delayed by couple of weeks. This has lead to slow progress of sowing of Kharif crops and raised concerns of fall in production of many crops like edible oil seeds, pulses, sugar and cotton and may put more pressure on food inflation. Government has increased MSP for Kharif 2012 crops between 20-35 percent, biggest hike in many crops to boost the production. “Weather department forecasts better rains in July-Aug that can help to improve the sowing activities in coming days and soften the agri commodity prices,” stated Mr. Chowda Reddy, Senior Research Analyst, Commodities Research, JRG Wealth Management who recently awarded ‘BEST ANALYST’ in Agri Commodity sector by Zee Business in INDIA’S BEST MARKET ANALYST AWARD- AGRI SEGMENT 2012 organized by ZEE BUSINESS at a glittering event.

Mr. Chowda Reddy received this prestigious award from honorable Finance Minister of India, Mr. Pranab Mukherjee. Speaking at this occasion Mr. Chowda Reddy stated, “We at the JRG Research desk are committed to providing valuable insights into the commodities markets and empowering investors make profitable investment decisions.”

JRG has won numerous awards and last year in 2011, Mr. Harish Galipelli received the Best Bullion Analyst of India award. Mr. Galipelli is currently Vice - President, Head-Commodities, JRG Securities Ltd.

ABOUT ZEE BUSINESS INDIA’S BEST MARKET ANALYST AWARD

In one of its kind initiative in 2010, ZEE BUSINESS instituted the India's Best Market Analyst Awards. Dedicated to honoring India's Financial Market experts for empowering the retail investor, these awards are a true recognition of excellence. These awards were the 3rd edition and were graced by the presence of Finance Minister Mr. Pranab Mukherjee as the Chief Guest. Mr. Subhash Chandra, Chairman, ZEE delivered the keynote address.

"It is time for people to switch from savings mode to wealth-generation mode," said the Finance Minister, Pranab Mukherjee, speaking at the Zee Business India's Best Market Analyst Awards 2012.

Zee group chairman Mr. Subhash Chandra said that the presence of Zee channels in more than 160 countries outside of India was proof that overseas investors continue to perceive India as a sought-after investment destination.

About JRG Securities:

The company provides a gamut of financial products and services including equity trading, commodity trading, trading in currency derivatives, insurance broking, distribution of mutual funds and online trading through its website –www.inditrade.com primarily to retail customers and a variety of loan products through its subsidiary JRG Fincorp.

JRG Securities Ltd. is listed on the Bombay Stock Exchange and has a diverse set of public shareholders. The Company along with its subsidiaries is a member of the National Stock Exchange of India (NSE), the Bombay Stock Exchange (BSE), the National Multi Commodity Exchange of India Ltd (NMCEIL), the National Commodities Derivatives Exchange Ltd (NCDEX), the Multi Commodity Exchange of India Ltd (MCX) and the Indian Pepper and Spices Trades Association (IPSTA). JRG is a full-fledged depository participant of the National Securities Depository Ltd and Central Depository Services (India) Limited. Besides these, a JRG Subsidiary is also a leading Insurance Broker. Apart from broking services, JRG offers commodity procurement services which cater to the diverse requirements of corporate/ trading clientele.

JRG Fincorp

The company’s product range includes Loan against Shares, Loan against Mutual Funds, Margin Trade Finance, Loan against Commodities and IPO finance. It also offers SME Finance, Corporate Loans, Structured Finance and Loan syndication services.

Differentiated presence in Commodities Broking:The company offers specialised and retail commodity broking facilities through its subsidiary, i.e. JRG Wealth. JRG Wealth is a member of NMCEIL, NCDEX, MCX, and IPSTA. The product portfolio for commodity broking business comprises agro-commodities, metals, bullion and energy. The house research team of experienced analysts track developments in the commodities markets.

JRG Commodity Procurement Services:

As part of the Company’s drive to service corporate clients, an exclusive Corporate Procurement Desk has been established at Hyderabad (Corporate Office), catering to varied needs of corporate clients, Exporters, Govt. / Private Procurement bodies in terms of market analysis, trading, procurement, exporting & importing. JRG Business Investment Consultants Ltd. (JRGBIC)’, a JRG group company, provides the ‘C&F’ and ‘Procurement’ Services to facilitate ‘Physical Procurement of Commodities directly from the Points of production (Farms, Mandis etc) and from the exchange platform. In addition the Company provides ‘C&F’ Services for processed commodities such as Chilli, Turmeric, Maize, Chana, Black Pepper, Rubber, Cardamom, and Jeera.

Online Trading Platform:

In order to increase its reach, JRG has broadened its service delivery channel from branches to an online trading platform. The online trading platform is made accessible through its website, www.inditrade.com, which was launched in April 2010, to provide customers with an opportunity to trade from any location with access to internet. The company has seen a significant growth in the number of our online trading customers.

Backed by Baring India Private Equity, a leading private equity firm in India

Baring India Private Equity, a leading private equity firm in India, through Duckworth Limited and Baring India Private Equity Fund III Listed Investments Limited holds 49.38% of the equity capital.

For more details log onto:  www.inditrade.com 

Outdated approach to be changed: Anoop Jacob

Kochi, 14 July: “We need to change our outdated approach and move according to the change of the time to take our State towards development” remarked Sri. Anoop Jacob, Minister for Food and Civil Supplies.

Harthal is  totally outdated now especially at a time when Kerala is leaping ahead towards Emerging Kerala Investor’s Meet and other creative ventures, said the minister in his inaugural address at the workshop on ‘Strategic Guidance for Entrepreneur Empowerment’ at Chamber Hall.

“If our State has gone behind while comparing the accomplishments of other neighboring States, it is only due to our outdated approach”, added the Food & Civil Supplies Minister.

The workshop was organized by Kerala Chamber Entrepreneurs Awareness Cell (KCEAC) to empower all who aspire to venture into business / industry/ service sectors.

Mr. K N Marzook Chairman, KCCI in his address briefed on KCEAC novel endeavour of the Kerala Chamber of Commerce and Industry -Youth Forum (KCCI-YF) especially when Kerala is fast becoming a thriving business hub.  The Awareness Cell is dedicated to help young and aspirant entrepreneurs to set up small, medium and large scale business establishments in Kerala. KCEAC would act as a mentor and regulator by providing expert advice on setting up new enterprises.   

      

Mr. E S Jose, Director and Former Chairman, KCCI and also   Member, Advisory Council, KITCO     in his speech assured the support and cooperation of KCCI for new entrepreneurs. Mr. T P Thomaskutty   Executive Director, KSIDC gave inputs on the preparations to be made to begin a new venture.

                                                  

 Representatives of KSIDC, KFC, DIC, Khadi & Village Industries, Lead Bank & Federal Bank handled sessions on vivid topics that add to the interest of entrepreneurs.   Mr. K S Pradeep Kumar,  Dy. Manager, DIC,  Ms. P R Radha,  Project Officer, Khadi & Village Industries,  Mr. K M Hiran Das, AGM, KFC, Ms. M Sarala Devi, Representative, State Level Banking Committee,  Mr. Nandakumar V, Regional Head, AGM, Federal Bank and Mr. John Wilfred, Principal, KITCO Institute for entrepreneurship handled sessions on various projects and schemes.  

Prominent project consultant Mr. K P S Kurup   took class on wide range of projects prepared by KCCI Entrepreneurship Awareness Cell.  Mr. K K Shafieque Ahamed, Joint Convenor, KCCI Youth Forum also spoke on the occasion.

  

                     

Gulf Air brings back popular ‘half miles’ redemption for Falconflyers

Airline’s Falconflyer members now require to redeem only 50% of their earned miles

Manama, Bahrain 15 July 2012: National carrier Gulf Air has brought back the popular ‘Half Miles’ redemption promotion for its Falconflyer members.

Gulf Air Falconflyer members can travel anywhere on Gulf Air’s network by redeeming just 50% of the required miles from their accumulated miles.

For instance, a Falconflyer member travelling economy class from Bahrain to any Gulf Air destination in Europe or Far East, need to redeem only 24000 miles as against the normal requirement of 48000. If a customer chooses to travel on Falcon Gold premium class, he needs to redeem only 48000 miles instead of the usual 96000 miles. By redeeming just 3000 miles as against 6000 a member can travel from Bahrain to any destination in GCC or Middle East on economy. To travel on Falcon Gold class a member needs only 6000 miles to redeem instead of 12000.  

“Our Falconflyer programme, re-launched last year with a whole new package of benefits, has witnessed tremendous response from our loyal members,” says Gulf Air Chief Commercial Officer, Mr. Karim Makhlouf. “The programme has been designed to offer unique incentives which are spread through the year so that our loyal members have flexible options to enjoy its benefits.”

He added, “The ‘half miles’ redemption offer is one such incentive that became an instant hit when it was introduced. We have brought it back now to say a big ‘thank you’ to our valued customers for choosing to fly with Gulf Air.”

“Our objective is simple; - no matter what your reason for travel is- business, holiday or a family get together- your Gulf Air Falconflyer membership earns you more miles as you fly and takes less miles to enjoy its benefits” Mr. Makhlouf concluded.

The ‘half miles’ promotion is open now for redeeming and Falcon Flyer members can travel anytime between 20 July and 20 August 2012.

Gulf Air’s new loyalty program ‘Falconflyer’ is packed with privileges in all its three categories – Gold, Silver and Blue. From additional baggage allowances to enjoying the facilities at Falcon Gold lounges to earning double miles, the programme offers more advantages and benefits comparable to other loyalty programmes in the world.

Other advantages of the programme include the best redemption rates and the best miles earning system for a premium class in the GCC and Middle East region, special online booking bonuses, a generous baggage allowance, three years miles validity, unlimited lounge access, priority baggage handling, and guaranteed seats among many other benefits that will make the traveling experience more enjoyable and rewarding.

Gulf Air Falconflyers can redeem the miles under the promotion via online www.gulfair.com or through Gulf Air World Wide contact centre on 17 37 37 37.

About Gulf Air

Founded in 1950, Gulf Air is the proud national carrier of the Kingdom of Bahrain. As a pioneering airline in the Middle East region with over sixty years of experience and expertise in flying people across continents, Gulf Air is today one of the most powerful brands and a name to reckon with in the global aviation industry.

One of the prime objectives of Gulf Air is to connect Bahrain to the Middle East countries and the rest of the world. As such the airline currently operates the largest network in the Middle East with non-stop flights while providing seamless onward connections to other international destinations. The airline’s current network stretches from Europe to Asia, connecting 50 cities in 31 countries, with a fleet of 36 aircraft. 

In tune with the Kingdom’s economic blue print, ‘Vision 2030’, Gulf Air’s strategy is to build an efficient, commercially sustainable and dynamic airline that effectively serves the people and the economy of Bahrain and represents the Kingdom on the world stage. Reflecting the needs and aspirations of its customers, the strategy focuses on three core areas: a targeted, more focused international network; a superior, more consistent product; and a modern, more efficient fleet that will optimize value. Gulf Air’s goal reflects a commitment to the latest aviation technology complemented by the hallmark Arabian hospitality for which the airline is well known.   

Gulf Air was the official sponsor of the 2012 Formula One Gulf Air Bahrain Grand Prix.

16th Indian Plumbing Conference + Exhibition

The 16^th Indian Plumbing Conference got inaugurated at Gokulam Convention Centre, Kochi, yesterday. Organised jointly by Indian Plumbing Association (IPA) and Akar InfoMedia Pvt. Ltd. (AIM), this sixteenth conference in a row, debated on the theme: Water Sustainability : Codes-Education-Implementation-Monitoring.

It was inaugurated at worthy the hands of Prof. V N Rajasekharan Pillai, Principal Secretary to Government of Kerala, Science & Technology Department and Executive Vice President, Kerala State Council for Science, Technology & Environment, in the presence of luminaries of Indian plumbing fraternity, who came to Kochi to attend this two day congress. Dr. A Ramakrishna, Former Deputy MD, L & T and Director – International Infrastructure Consultants Pvt. Ltd., delivered the keynote address and also made an interesting presentation on water scenario in the country. Mr. Sudhakaran Nair, President of IPA & Dy. Chairman – World Plumbing Council shared with the audience, the multi-pronged approach of IPA, to create an awareness about this very crucial and yet very neglected aspect of building services – plumbing. Mr. P Ramachandran, Chairman of IPA’s Kerala Chapter shared with the audience that how inspite of various sources of water, God’s Own Country is still starving for water!

The second day of the conference debated on the topics like Mandate & Monitor and Renew & Reuse. Subject experts like Mr. Sharat Rao, Managing Director, Engineering Creations Public Health Consultancy Pvt. Ltd. - Mumbai, Mr. S. Haris, Executive Engineer, Kerala Water Authority - Thiruvananthapuram, Mr. John Joseph, MD & Principal Consultant, John Mech-El Technologies Pvt. Ltd. – Mumbai and Mr. V. Venugopal, Managing Partner, Modern Plumbing Systems & Services, Kochi made presentations on these topics. These topics focused mainly on the importance of uniform codes & the importance of a monitoring system and also that of re-use of available resources.

This two day conference also had a large exhibition of latest and innovative plumbing and allied products. Builders, consultants and high net-worth individuals attended this exhibition which was a big success.

With these high profile deliberations and dignitaries visiting the show over two days, this national convention on plumbing will definitely leave a big impact on Kochi in terms of water sustainability and conservation.

Fawaz Broasted's First Outlet in India Open in Padivattom, Kochi

Kochi, July 15: Fawaz, the leading broasted chicken and fastfood chain based in the Kingdom of Saudi Arabia, has opened its first outlet in India at Padivattom, Kochi. The new outlet was inaugurated by State Public Works Minister P K Ibrahim Kunju. The first sale was inaugurated by Ex-Minister T H Musthafa. The funcation was presided over by Benny Bahannan, MLA and was also attended by Perumbavoor Muncipal Chairman K M A Salam, TP Hassan, Cochin Corporation Councillor M B Muraleedhara Menon, Thiruvananthapuram Spinning Mill Chairman M P Abdul Khader. Fawaz group Director Fawaz Ali welcomed the gathering while Fawax group Chairman P V Salim delivered the vote of thanks.

In addition to broasted dishes, the outlet also serves Arabic delicacies . It is situated near Palarivattom signal opposite POC in Padivattom.

It’s indeed Care Beyond Boundaries as Save the Little Hearts initiative goes live in Oman

Six-year-old girl receives free heart surgery through DM Foundation As part of its Save the Little Hearts campaign, the not-for-profit vertical of DM Healthcare sponsors the treatment of a child from Oman at the Malabar Institute of Medical Sciences in Kerala
 Dubai, July 11, 2012: DM Foundation, the charitable arm of a leading healthcare conglomerate DM Healthcare, sponsored the treatment of six-year-old Aala Saud Al Fadhi, from Oman, affected with a rare heart condition, the little girl was given a new lease of life when she was selected for a Pediatric Cardiac Surgery under the sponsorship of DM Foundation at Malabar Institute of Medical Sciences (MIMS) in Kerala, India,.  After undergoing a successful procedure for Atrial Septal Defect in the wall separating the right and left atria of the heart, Aala is well on her way to good health. She is now back home and looking forward to leading a healthy life. This initiative is a part of DM Foundation’s commitment to sponsor free cardiac surgeries in India for Omani nationals through ASTER Hospitals, Oman. Aala is the first of the fifty patients to be selected as part of this initiative with the aim of meeting the medical needs of those who really need it and are unable to afford it. The patients, who would be selected after an initial screening at DM Healthcare’s facilities in Oman, will be given free treatment, including heart surgery performed by the most experienced and qualified doctors at MIMS (Malabar Institute of Medical Sciences Ltd) a 600-bed super specialty tertiary care hospital in Calicut, Kerala. Commenting on Aala’s treatment, Dr. Sajan Koshy, Senior Consultant Pediatric Cardiac Surgeon, MIMS, said: “We are pleased to be part of an initiative that would help those who are in real need of medical care and attention. This is a wonderful initiative by DM Foundation and we are thankful for the support that has been pouring in to take this initiative forward. Aala is a sweet and deserving child and we are very happy we could help her get her life and health back. We hope that we can continue helping people through this initiative in Oman.”  DM Foundation aims to help many children like Aala and sponsor their treatment.  Commenting on the initiative, Dr. Azad Moopen, Founder of DM Foundation, said. “This initiative is a small step that we have taken to ensure the welfare of people, who cannot afford good medical treatment. We are happy to be able to help them in a small way. We are grateful for the support of Ministry of Health and the Government of Oman, without which this mission would not have been possible. We aree thankful to Mr. Khalid Hilal al Shaqsi, Health Attaché, Consulate General of the Sultanate of Oman and his team for having supported this initiative by sponsoring the travel, stay and hospitalization of the first child treated in India. Their backing would go a long way in changing the life of a child for the better.” “Let me take this opportunity to appeal to all corporates and philanthropists in Oman to come forward and support the patients to take care of their travel needs and incidental expenses during the treatment phase,” Dr. Moopen added.  Patients in Oman are requested to contact Aster Hospitals in Muscat and Sohar to know more about the Free Pediatric Cardiac Surgery programme. The patients will be screened by the specially set panel of doctors and eligible candidates are provided free air tickets, courtesy of Emirates airline.  The Malabar Institute of Medical Sciences is the first NABH accredited multi-specialty hospital in Calicut, Kerala. The 600-bed hospital is renowned for its excellent medical expertise, nursing care and quality of diagnostic services. The hospital has earned a very good recognition as a leader in providing world-class healthcare services to the common man at an affordable cost. The hospital is continuously in tune with the latest technology that promotes the healthcare and wellbeing of the patient and the best comfort offered to overseas patients through its Overseas Patient Desk including to and fro airport transfer. About DM Foundation DM Foundation is the Charitable and Corporate Social Responsibility (CSR) Division of DM Healthcare. Established by Padma Shri Dr. Azad Moopen, the Foundation is involved in many charity works in the GCC and India, The goals of the organization include extending support to the North Indian states as well as to African countries, where there is acute requirement for intervention in the delivery of healthcare and educations to the poor. DM Foundation is actively involved in conducting various health awareness campaigns and free medical camps through Community Good Health Programs (CGHP) in the Gulf Countries, through DM Healthcare. Other not-for-profit activities of DM  Foundation is the ongoing free Pediatric and Adult Cardiac Surgery Programme, in association with MIMS Charitable Trust. The Foundation is establishing Community Dialysis Centres across Kerala. It is also establishing Early Cancer Detection Centres across Kerala and is setting up Free Radiation Oncology Centres for the benefits of the weaker section of the society. Other initiatives include Village Adoption Programme for ensuring Free Medical Services the below poverty line (BPL) population, establishment of Free Mobile Healthcare Services in remote villages in underdeveloped North Indian States, extending Education & Empowerment Programme through Moopen Institute for Local Empowerment (MILES) to mould a strong, determined and aware citizenry in the villages of India -- with a lead project at Kalpakanchery, a north Kerala village --  and running of a Special Needs Schools for the Physically and Mentally challenged.  Apart from healthcare related charitable activities, DM Foundation extends financial support to many NGOs and needy individuals. DM Foundation works in tandem with sister organizations like MIMS Charitable Trust (www.mimstrust.com ) and Social Advancement Foundation of India (www.safiindia.org). About DM HealthcareDM Healthcare is a healthcare group in the Middle East and India. Founded in 1987 by Padma Shri Dr. Azad Moopen, a doctor turned entrepreneur, the Dubai-headquartered Group has diversified to offer comprehensive healthcare services to all segments of the society. In its quest for excellence, DM Healthcare provides healthcare of the highest quality in the geographies they operate in with a motto “Care Beyond Boundaries”. Consolidated under the brands Aster and Medcare, the Group covers an array of healthcare verticals including hospitals, clinics, diagnostic centres and pharmacies. The DM network presently consists of more than 125 establishments, providing primary, secondary and tertiary healthcare with management and consultancy services, treating more than 20,000 patients per day. The Group is in the midst of an exponential expansion in the GCC and India with the number of units set to grow to 300 by the year 2015 with investments of $500m across Middle East and India.

Kerala Fin. Corp. on new heights KFC declares 7.5% dividend

KFC declares  highest dividend than  by any other PSU in the State

          Kerala Financial Corporation(KFC) has scaled new heights by registering the highest ever profit of Rs.45.65 Crores for the F.Y. 2011-12.  The Corporation also increased the size of its assets to Rs.1240 Crores as on 31.03.12 from Rs.1124 crores as on 31.03.2011.  The sanctions registered a figure of Rs.539 Crores and disbursements registered a figure of Rs.464.57 crores.

          Buoyed by the all-time best performance of KFC, a dividend of 7.5% on paid up capital was declared by the Corporation  in its Annual General Meeting held on 11.07.2012.  This translates into an amount of Rs.15.90 crores with a major part going to Government of Kerala which owns more than 97% of the equity share capital.  Another Rs.2.58 Crores of  dividend tax is payable to the Govt. of India.  This is the highest dividend declared by any PSU in the State. 

          The improvement in its appraisal methods, introduction of objective credit rating system, etc. by KFC  has tremendously increased the quality of its assets and advances and the Corporation has been able to reduce its gross NPA percentage from 8.20% to 3.60%  and net NPA from 1.88% to 1.30%.

           The Corporation also formulated scientific, rational and  modern policies for sanction of loans, their monitoring and recovery.  Forward looking compromise settlement and recovery policies ensured that the recoveries for the year 2011-12 reached an all-time high figure of Rs.467.17 Crores.  The total income also surpassed the figure of Rs.200 Crores at Rs.214.25 Crores up from the figure of Rs.165.98 Crores achieved in the year 2010-11 (an increase of 30%).  It may be stated that this  performance has been achieved mostly in the second half of the F.Y 2011-12.   This is also to be noted that the Corporation had huge accumulated losses just about 3 years back.

          The Corporation has been able to achieve this performance despite reduced financial  assistance from SIDBI.  However, the improved performance of the Corporation and confidence in its management ensured that banks agreed to lend to KFC at a very economic rates.  Further, the reduction in its establishment costs has enabled KFC to earn profits despite keeping low lending rates.  The effective rates after rebate and reduction of interest rate for good credit rating is only 12.5% as against around 16% charged by other banks.

          As at the end of the year 2011-12 the net worth of the Corporation was Rs.325.85 crores  up from RS.297.36 crores in the previous year. The Corporation has Capital Adequacy Ratio (CAR)  of 20.51%  which is far above the minimum norm of 9% prescribed by the RBI.

A comparative chart for performance during the last 3 years is given below:                                                                                                    (Rs. in lakhs)

Financial year	2011-12	2010-11	2009-10
Portfolio Size	123984	112481	88869
Sanctions	53901	50706	61593
Disbursements	46457	44344	41953
Recovery	46717	35473	29957
Total Income	21425	16598	16236
Total Expenditure	15162	10428	11571
Operating Profit	6263	6170	4665
Net Profit	4565	3640	3372
Net NPA%	1.30	1.88	2.41
Gross NPA%	3.6	8.2	9.04
Net worth	32585	29731	26996

NABARD celebrates 31st Foundation Day

NABARD Celebrated its 31st  Foundation Day on 12 July 2012 at its Kerala Regional Office at Thiruvananthapuram. The function was inaugurated by Shri K C Joseph, Hon’ble Minister for Rural Development and was presided over by NABARD Chief General Manager, Shri R Amalorpavanathan.  Shri Salim Ganghadharan, Regional Director, RBI and Shri  G Sreeram, Convenor, State Level Bankers Committee, were  also present on the occasion.

Shri K R Rao, General Manager welcomed the dignitaries and other guests. In his address, Shri R Amalorpavanthan, Chief General Manager, acknowledged the efforts made by the State Government, RBI, Banks and other Community Based Organisations for the development of the State and thanked these agencies Government for the support and cooperation extended to NABARD in the furthering the developmental agenda of the State.  Apart from the traditional areas he explained about the new interventions proposed to be undertaken by NABARD in the State. He also assured that NABARD would continue to work for the development of the farmers in the State.

In his address, the Hon’ble Minister appreciated the support extended by  NABARD   to the State over a period of three decades.  He specifically emphasised on the contribution made by NABARD in the State in the field of creation of infrastructure, empowerment of poor through JLGs/SHGs.   He appreciated NABARD for its outreach of the development programmes to the most remote areas in Kerala.  The Minister also expressed   hope that NABARD would continue to extend its support to the State in all its future endeavours. The Minister appreciated  NABARD and said that it has done full justice to its establishment by striving hard to achieve the objectives for which it was formed in a fair and impartial manner. 

Shri Salim Gangadharan, Regional Director, RBI  recalled the association of NABARD with RBI and the services NABARD has been rendering for the upliftment of the rural masses.  Shri G Sreeram, Convenor, State Level Bankers Committee appreciated NABARD for its cooperations and support in their endeavour to contribute to the development of the State as the convenor of SLBC.

Shri Jose T Abraham , Secretary employees association  in his address  explained the challenges faced by Development Financial Institutions and urged the government to provide necessary support to NABARD to successfully carry out its mission.  He also said that all the Staff are dedicated to the development of the State and would continue to do so.

Smt G Janaki DGM , President, NABARD Officers Association  proposed vote of thanks wherein she  assured that the staff of NABARD  are committed  for the overall development of the State.

Muthoot Pappachan Group forays into Healthcare

 Launches its first orthopaedic trauma care centre, Muthoot Life Brigade in Kottayam

Kochi, 11 July 2012: Muthoot Pappachan Group (MPG) today announced their foray into the Healthcare sector, launching its first-ever orthopaedic trauma care centre ‘Muthoot Life Brigade’ at Vadavathoor,

KK Road

in Kottayam.

Muthoot Life Brigade is a 24 x 7 Trauma Care centre that has backed-up emergency operating capabilities, on site trauma related implant stores and on-site availability of critical equipment that ensures immediate & superior patient care by a world class team.

Speaking on the occasion, Mr. Thomas John Muthoot, Chairman & Managing Director,  Muthoot Pappachan Group said, “We are proud to bring the renowned quality, service and affordability of MPG to the field of healthcare. Our aim is to provide outstanding orthopaedic care by adhering to the highest possible professional and ethical standards through our new venture Muthoot Life Brigade.”

The facility, built in an area of 25,000 sq. Ft  is equipped with the capacity of 50 fully air conditioned beds,3 operation theatres equipped with arthroscopic fascilities,8 bedded ICU equipped  with ventilators, facilities for CT Scan, Echocardiogram, Ultrasound scan, TMT, a fully equipped Biochemistry lab and physiotherapy department. It offers an entire continuum of diagnostic, therapeutic and surgical orthopedic services for adults and children with bone, joint or connective tissue disorders as well as facilitates treatment on musculoskeletal care and complex surgical procedures. The centre comprises of Departments including Orthopedics, Neurosurgery, Plastic surgery, General surgery, General Medicine, Pediatrics, Cardiology, Maxillofacial surgery and ENT. Muthoot Pappachan Group has invested Rs.5.25 crore for setting up the entire trauma care centre.

“Our Group is known to deliver multidisciplinary support services with added levels of comfort and convenience. We are confident that our distinctive response in delivering outstanding emergency care will win us recognition as a referral centre of choice for complex trauma cases. Muthoot Pappachan Group aims at setting up a secondary level hospital in the State, shortly.” added Mr. Muthoot.

For the last 125 years, Muthoot Pappachan Group has been providing solutions, services and expertise to its diverse and large customer base across the country in various domains like financial services, automotive, property, hospitality, alternate energy and now healthcare.

iGATE Appoints Sanjay Tugnait as the Head of

FREMONT, Calif., July 10, 2012 (GLOBE NEWSWIRE) -- iGATE, the first
integrated Technology and Operations Company providing Business
Outcomes-based solutions, today announced Sanjay Tugnait as the new
North America Sales Leader and Global Head of Alliances. Sanjay will be
paramount to delivering iGATE's business growth agenda. He will be part
of iGATE's Executive Committee.


In a career spanning over two decades, Sanjay has been part of global
companies such as Accenture and IBM/PWC.

Prior to joining iGATE, Sanjay, was the Managing Partner of Accenture's
Financial Services practice in India. He is credited for setting up the
company's Financial Services business in the subcontinent. He has also
served Accenture as a Partner for its North America practice. Sanjay
has been part of Accenture's Global CEO Advisory Council and India
Leadership team.

Commenting on the appointment, Phaneesh Murthy, CEO, iGATE said, "We
are pleased to have Sanjay on board. I believe that his experience in
driving revenues through strong relationships with Fortune 1000
companies will augur well to champion iGATE's outcomes-based model in
North America. I wish him the best for a successful career at iGATE."

Talking about his new role, Sanjay Tugnait said, "I am very excited to
be part of the Executive team at iGATE and leading Sales for the
company's largest market. I believe this is an exciting time to join
the business and change the traditional T&M industry model."

"Powered by our differentiated iTOPS delivery framework, my industry
knowledge and CXO relationships, my team and I are eager to engage with
customers to optimize costs and deliver high-impact outcomes."

About Business Outcomes

iGATE's industry-first Business Outcomes-based approach focuses on the
realization of tangible and measurable results, unlike traditional
models which are driven by work, effort, time and manpower. Integrating
technology and processes in a proprietary way and pricing services on
results, iGATE exchanges fixed costs for a variable cost structure in
an attempt to get clients to pay-for-results-only while enabling them
to adjust to the peaks and valleys of their demand.

About iGATE

iGATE Corporation is the first integrated technology and operations
(iTOPS) company providing full-spectrum consulting, technology and
business process outsourcing, and product and engineering solutions on
a Business Outcomes-based model. Armed with over three decades of IT
Services experience and powered by the iTOPS platform, iGATE's
multi-location global organization has a talent pool of over 27,000
employees and consistently delivers effective solutions to over 360
Fortune 1000 clients spanning verticals such as: banking and financial
services; insurance and healthcare; life sciences; manufacturing,
retail, distribution and logistics; media, entertainment, leisure and
travel; communication, energy and utilities; public sector; and
independent software vendors. Please visit http://www.igate.com/ for more
information.

iGATE Corporation is listed on the NASDAQ Global Select Market under
the symbol "IGTE."