Thursday 22 December 2016

China Says Don't Read Too Much Into US Drone Case

China Says Don't Read Too Much Into US Drone Case

Beijing:  China said on Thursday people should not read too much into last week's incident when a Chinese naval vessel picked up a US underwater drone in the disputed South China Sea.
The taking of the unmanned underwater vehicle in international waters near the Philippines triggered a US diplomatic protest and speculation about whether it would strengthen US President-elect Donald Trump's hand as he seeks a tougher line with China or whether China was testing him.
The Chinese navy returned the drone on Tuesday after what it said were friendly talks with the United States.
Asked whether China dismantled the drone to inspect it, or whether the navy deliberately targeted the drone or if it was picked up by mistake, foreign ministry spokeswoman Hua Chunying said she had no details about the incident other than those provided by the defence ministry.
"There is a bit of over-reading, or a bit thinking about it too much: 'was it a misjudgement or orders from higher up'?" Hua told a daily news briefing, referring to a reporter's question.
"But if you read the answer from the defence ministry spokesman, the facts are really simple and clear," she said, repeating the defence ministry's line that they had discovered an unidentified object and out of safety concerns took in it for verification.The seizure has added to US concern about China's growing military presence and aggressive posture in the disputed South China Sea, including its militarisation of maritime outposts.
China is deeply suspicious of any US military activity in the resource-rich South China Sea, with state media and experts saying the use of the drone was likely part of US surveillance efforts in the disputed waterway.

 

Thursday 8 September 2016




ICICI Prudential Life seeks up to $909 million in India's biggest IPO in six years :-

Image result for icici

ICICI Prudential Life Insurance Co Ltd's initial public offering of shares will open on September 19, parent ICICI Bank said on Thursday, seeking to raise as much as $909 million in the biggest local listing in six years.ICICI Bank, which owns nearly 68 percent of the insurer and is selling up to 181.34 million shares, or a 12.65 percent stake, in the IPO, has set a price range of 300 rupees to 334 rupees, it said in a regulatory filing.
At the upper end of the price band, India's second-biggest lender by assets will raise 60.5 billion rupees ($909 million) in what will be the first IPO by an Indian insurer.
Strong stock markets in India have sparked a boom in IPOs.
Easing of foreign holding rules in insurance companies earlier this year paved the way for IPOs in that sector, although experts say it will be only the bigger players that will look at listing.
ICICI Prudential Life's IPO will close on September 21, ICICI Bank said. Britain's Prudential PLC, which owns nearly 26 percent of the insurer, is not selling any of its stake in the IPO, according to a draft prospectus filed in July.
The IPO will be the biggest since state-run Coal India Ltd's market debut in 2010.
Bank of America Merrill Lynch and ICICI Securities are the global coordinators and bookrunning lead managers of the IPO along with eight other banks including CITIC CLSA, Deutsche, UBS and HSBC.
($1 = 66.6385 Indian rupees)

(Reporting by Devidutta Tripathy ; editing by Susan Thomas)


Friday 6 May 2016

Mahindra's luxury SUV comes out of India to New Zealand Mahindra hopes the addition of automatic transmission to the facelifted XUV will boost its profile in NZ. 

MAHINDRA XUV500 W8
Price range:
$36,990 (FWD) to $39,990 (AWD).
Powertrain: 2.2-litre turbo-diesel producing 103kW/330Nm, 6-speed automatic with front or all-wheel drive.
On sale: Now.
You could look at Indian brand Mahindra in two ways.
From a Kiwi perspective, it's a relative newcomer, niche purveyor of utes and farm vehicles and a concern that could do with some spelling tutelage (one of its models is called the Pik Up).
XUV500 rides on car-like monocoque chassis.
in the bigger picture, Mahindra Automotive makes half a million cars per year (so about the same as another Indian carmaker, Jaguar Land Rover) and holds a 40 percent market share at home. Its parent company, Mahindra & Mahindra, is a US$17 billion concern with no debt and 112 different divisions covering 20 different industries in 100 countries.
Length of 4585mm is close to medium-SUVs, but Mahindra claims cabin space matches many larger vehicles.
Mahindra has owned a controlling interest in Korean brand SsangYong since 2011. Other recent motoring-related purchases include Peugeot Scooters and Italian design house Pininfarina. Mahindra is also the world's largest manufacturer of tractors by volume (300,000 annually) and happens to own a few other minor brands, such as Mitsubishi Tractors.
Mahindra has a controlling interest in electric-car maker Reva (the e20 city car is on sale in India and London) and it's one of 10 core partners in the Formula E series.
So Mahindra is a massive concern that's looking to establish itself more firmly in export markets, particularly in the automotive sphere. Of those 500,000 cars manufactured last year, 474,000 were sold in India. There's room to expand.
Styling, equipment and build quality are good. Hard plastics and weird textures, not so much.
It's baby steps towards that goal, which is why Mahindra is testing the waters in markets like Australia and New Zealand. Mahindra has some serious commercial muscle behind it: the local distribution company is owned by Nichibo, NZ's largest used-vehicle importer: it brings in approximately 45,000 cars per year and gives Mahindra access to over 20 retail locations, from Northland to Southland.
Nonetheless, Mahindra has been operating under the radar here, selling vehicles like the Genio ute, Pik Up and Thar to commercial and rural customers. Off-roaders are in the DNA: Mahindra started building a version of the American Willys Jeep in 1947, and it continues as a cult vehicle in (mildly) modernised form as the Thar. Unlike Genio and Pik Up, it's not legally road-registrable - but it is sold here as a farm vehicle.
Anyway, those are light-commercial curiosities compared with Mahindra's aspirations towards the mainstream SUV market. It's had the XUV500, a seven-seat family crossover, on the market since 2014, but only in diesel-manual form. The appeal was limited to say the least.
Pravin Shah, global head of Mahindra Automotive, visited NZ for the XUV launch.
DAVID LINKLATER/FAIRFAX NZ
Pravin Shah, global head of Mahindra Automotive, visited NZ for the XUV launch.
The refreshed model is now available with an automatic transmission, and that's been the catalyst for the company to make a lot more noise about its model range.
In fact, special guest for the select media launch of the XUV500 was Pravin Shah, president and chief executive of Mahindra Automotive and member of the Group Executive Board. That's quite a coup for a company that sold 200 road vehicles last year, in one of the smallest car markets in the world.
But we are part of a bigger picture for Mahindra. "New Zealand is part of a globalisation strategy," says Shah. "We are here to stay."
That strategy started back in 2011 with the aquisition of SsangYong, and has continued on the same path with Pininfarina: "SsangYong has really helped with our global footprint and it fits with our SUV DNA.
"As for Pininfarina, the purchase was not based on surplus cash but global strategy. This was a critical aquisition, because there will be a future when automotive companies may not actually produce the cars you buy. It may be technology or IT companies. Pininfarina and Mahindra Tech [the group's IT division, which also has a presence in NZ] together make a lot of sense."
That's a lot of talk about about a bold new future. In the here and now, the XUV500 is more of an old-school SUV. It's a seven-seat wagon that comes at a bargain price (from $36,990) for a fully loaded package: standard equipment for the W8 model includes leather upholstery, seven-inch colour touch screen with pinch-and-zoom satellite navigation, power driver's seat, reversing camera with dynamic guidelines, foldable second and third-row seats, LED interior lights, and wireless tyre-pressure monitoring on all wheels, including (usefully) the spare.
Mahindra NZ is realistic about this vehicle. It's pitched as a step-up from a used car, or a weekend tow-wagon (it can haul 2.5 tonnes). Projected volume is just 200 per year, or about the same number of Sportages that Kia sold last month. Like we said, baby steps. To put a positive spin on it, the XUV500 will double Mahindra's Kiwi car-sales volume.
It's definitely a second-tier vehicle compared with the latest Japanese and Korean SUVs, but then it's priced accordingly. The powertrain is very good: a 2.2-litre turbo diesel by Austrian company AVL, matched to a Japanese Aisin six-speed automatic (the same unit that's used in the SsangYong Tivoli). It's no ball of fire - especially when the XUV weighs two-and-a-half tonnes - but the engine is linear and the gearbox smooth.
The XUV rides on a car-like monocoque chassis, but the handling of the AWD model we sampled at launch was more akin to a heavy-duty off-road vehicle. The steering loads up quickly and the suspension settles uncomfortably over bumpy open-road corners. This, and the car's considerable weight, are a mystery given the crossover-type construction.
So the XUV500 is a bit of a mixed bag. It looks the part. Build quality is excellent but the cabin plastics and panel gaps aren't. The powertrain is slick but the chassis wobbles.
It's also only achieved four stars in Ancap testing. Shah describes crash-test results as a "state of mind".
"We have produced 160,000 of these vehicles and I am not aware of a single fatality," he says.
It's likely that the XUV will mark a turning point for Mahindra, with future models being developed on shared platforms with subsidiary SsangYong. "I cannot give you a timeline for this," says Shah, "but it is happening."
By the way, it's the "XUV five-double-0", not "XUV five-hundred". Model names ending in "double-O" are very much a Mahindra thing, apparently.

Captain America Civil War movie review: Marvel's best in years

A still from Captain America Civil War

Marvel's Captain America Civil War is the big release this Friday. With Anthony and Joe Russo back behind the camera and Tony Stark and Steve Rogers battling it out in front of it, Captain America Civil War has been called, in Robert Downey Jr's words, 'The Godfather of superhero movies'. Will this showdown between Iron Man and Captain America be worth your time? Here's our review of the latest superhero flick in town.
Cast: Chris Evans, Robert Downey Jr, Scarlett Johansson, Sebastian Stan, Anthony Mackie, Don Cheadle, Jeremy Renner, Chadwick Boseman, Paul Bettany, Elizabeth Olsen, Paul Rudd, Emily VanCamp, Tom Holland, Frank Grillo, William Hurt, Daniel Bruhl
Direction: Anthony and Joe Russo
Ratings:4 Star Rating: Recommended4 Star Rating: Recommended4 Star Rating: Recommended4 Star Rating: Recommended (4.5/5)
Captain America: Civil War comes after March's Batman v Superman: Dawn Of Justice. Both the films are essentially based on the same premise. Two superheroes find themselves on different sides of the battle-line, and need to fight it out to prove the other is wrong. But Civil War does it so much better than Dawn Of Justice.
In 1991, the brainwashed-by-Hydra Bucky Barnes (Sebastian Stan) kills a motorist and steals super-soldier serum from him.
Captain America: Civil War takes place a year after Avengers: Age Of Ultron. Tony Stark/Iron Man (Robert Downey Jr) is guilt-ridden because he had created Ultron. The government wants the Avengers on a leash after Scarlet Witch/Wanda (Elizabeth Olsen) accidentally blows off a building trying to stop Rumlow (Frank Grillo) from stealing a biological weapon. Several Wakandan relief workers are killed in this accident, and Stark seconds the government's decision, his Ultron-guilt working overtime.
Steve Rogers/Captain America (Chris Evans), on the other hand, can't bring himself to follow the government's diktat. Soon, the Avengers find themselves rallying behind the warring Iron Man and Captain America.
Back on the directors' chair, Anthony and Joe Russo have done a thoroughly impressive job with Captain America: Civil War. The brothers, aided by screenplay writers Christopher Markus and Stephen McFeely, succeed in letting people lose themselves in the Avengers' world yet again. The storyline is racy and keeps you on the edge of your seat for most part of the film.
Marvel's Captain America Civil War is the big release this Friday. With Anthony and Joe Russo back behind the camera and Tony Stark and Steve Rogers battling it out in front of it, Captain America Civil War has been called, in Robert Downey Jr's words, 'The Godfather of superhero movies'. Will this showdown between Iron Man and Captain America be worth your time? Here's our review of the latest superhero flick in town.
Cast: Chris Evans, Robert Downey Jr, Scarlett Johansson, Sebastian Stan, Anthony Mackie, Don Cheadle, Jeremy Renner, Chadwick Boseman, Paul Bettany, Elizabeth Olsen, Paul Rudd, Emily VanCamp, Tom Holland, Frank Grillo, William Hurt, Daniel Bruhl
Direction: Anthony and Joe Russo
Ratings:4 Star Rating: Recommended4 Star Rating: Recommended4 Star Rating: Recommended4 Star Rating: Recommended (4.5/5)
Captain America: Civil War comes after March's Batman v Superman: Dawn Of Justice. Both the films are essentially based on the same premise. Two superheroes find themselves on different sides of the battle-line, and need to fight it out to prove the other is wrong. But Civil War does it so much better than Dawn Of Justice.
In 1991, the brainwashed-by-Hydra Bucky Barnes (Sebastian Stan) kills a motorist and steals super-soldier serum from him.
Captain America: Civil War takes place a year after Avengers: Age Of Ultron. Tony Stark/Iron Man (Robert Downey Jr) is guilt-ridden because he had created Ultron. The government wants the Avengers on a leash after Scarlet Witch/Wanda (Elizabeth Olsen) accidentally blows off a building trying to stop Rumlow (Frank Grillo) from stealing a biological weapon. Several Wakandan relief workers are killed in this accident, and Stark seconds the government's decision, his Ultron-guilt working overtime.
Steve Rogers/Captain America (Chris Evans), on the other hand, can't bring himself to follow the government's diktat. Soon, the Avengers find themselves rallying behind the warring Iron Man and Captain America.
Back on the directors' chair, Anthony and Joe Russo have done a thoroughly impressive job with Captain America: Civil War. The brothers, aided by screenplay writers Christopher Markus and Stephen McFeely, succeed in letting people lose themselves in the Avengers' world yet again. The storyline is racy and keeps you on the edge of your seat for most part of the film.
Like in all Marvel films, the CGI is the real hero in Captain America: Civil War too. Jeffrey Ford and Matthew Schmidt are pretty accomplished with their scissors. The film doesn't feel overstretched, the pace doesn't drop even for once. Trent Opaloch's camera captures Stark's lavish mansion with equal ease as it does the frozen Siberia.
Captain America: Civil War is among Marvel's best offerings so far. The film deals with many plotlines and while that does work against it at certain points, more often than not, Civil War is hugely satisfying. For an Avengers fan, the film is one colossal orgasm. The fight scenes are stunning and really well done.
The big showdown between two of the biggest superheroes is all that many people have wanted to see for a long time. Dawn Of Justice was supposed to have been THE film dealing with two superheroes at loggerheads with each other, but that fumbled bad. Civil War undoes the boredom that Batman and Superman had inflicted on us a month ago.
Watch Captain America: Civil War for everything. The trip to the theatres will not be in vain this time.

Beef banned in mahharashtra


Beef ban: Bombay High Court strikes down criminal prosecution for possessing beef in Maharashtra

The Maharashtra Animal Preservation (Amendment) Act was enacted in March 2015 and bans the slaughter of bulls and bullocks, in addition to an earlier ban on the slaughter of cows (File Photo)

The state will be allowed to prosecute only after ascertaining whether the person having beef was in conscious possession of it.
The Bombay High Court on Friday struck down three sections of the Maharashtra Animal Preservation (Amendment) Act which was enforced in March 2015, thereby holding that criminal prosecution for possessing beef is unconstitutional under Article 21 of the Constitution of India.
While striking down sections, 5 (d) and section 9(b) of the Act and reading down section 5 (c), the court said it was in contravention of provisions of the right to privacy. The court has allowed the state to prosecute only after ascertaining whether the person having beef was in conscious possession of it. Technically, this means people cannot bring beef from outside Maharashtra, but if brought, authorities will have to ascertain whether it was consciously brought and prosecution will follow thereafter. Also, the slaughter of bulls/bullocks will not continue in the state.As per the law, possession of beef was criminalised, thereby indirectly banning sale or possession of beef in any form in the state.
The Maharashtra Animal Preservation (Amendment) Act was enacted in March 2015 and bans the slaughter of bulls and bullocks, in addition to an earlier ban on the slaughter of cows. The law makes the sale of bulls, bullocks for slaughter a crime, punishable with a jail term of up to five years and a fine of Rs 10,000.
Section 5(d) of the Act says that possession of meat of a cow, bull or bullock, even if slaughtered outside the state, is also an offence which can be punished with one-year imprisonment and a fine of Rs 2,000. Petitions have challenged this section claiming that the ban on beef is a violation of the fundamental right to life and liberty. However, former Advocate general of the State Shrihari Aney had justified the ban, contending that there was no fundamental right to choice of food and or any right to eat beef. The state also claimed that making possession of beef a crime was necessary in order to ensure effective implementation of the ban.
The aim and object of the Act is to preserve cattle for their undeniable utility in agriculture and drought sectors.
The government affidavit said that the eating habits of a group of persons do not make that group a “cultural minority” entitled to protection under Article 29 (protection of interests of minorities). The concept of culture is far above issues like what one eats, it said. If a food habit, that too not essential food, is considered to be part of culture, then there would be thousands of minority groups in the country on this basis alone, it said. Further, it had said, “India is a vast country and people living in different parts of the country have different food cuisines…Therefore, eating a particular food does not entitle the constitution of a cultural minority.
The state government had also clarified that it does not have any intention to impose a “vegetarian regime or dictate or force food habits”. “The non-vegetarians are free to have their own food choices but cannot insist, as a matter of right, on a particular type of food.
The petitioners relying on Article 19 (1)(g) which deals with the fundamental right to “practice any profession or carry on any occupation, trade or business,” the state government has said that this right is subject to Article 19 (6) which permits reasonable restrictions to be imposed in the interest of the general public.

Thursday 5 May 2016

On PM Modi's Orders, Centre Says Bye to 33 Non-Performing Officials

On PM Modi's Orders, Centre Says Bye to 33 Non-Performing Officials

New Delhi: Non-performance will no longer be tolerated: To drive home this Good Governance message of Prime Minister Narendra Modi, the Centre has ordered 33 senior officials of the revenue department to take premature retirement.

Over the last two years, 72 officials have also been dismissed following departmental and disciplinary action. But this was the first time that action was taken against such a large group.
All 105 officers were Class 1 officers and are above 50 years in age.

Action against the revenue officials was part of several measures to change the officials' perception that poor performance or harassing the public would not impact their job, said a senior personnel ministry official.

PM Modi had been regularly receiving complaints from various departments about officials who were either indifferent or harassed the public.

In January, PM Modi had asked all departmental secretaries to take stern action against non-performing officials during a meeting called "pragati interaction". Secretaries were asked to draw up a list of officials who were non-performing as a rule.

Later that month, the Centre had shortlisted 122 deputy secretary level officials in various ministries and departments. Of them, 17 were from the Defence ministry, 13 from higher education, 7 from the health ministry and 6 from commerce ministry. Even officials from critical units, like National Intelligence Grid and the National Scrutiny Council were on the list.

To scrutinise their records, the Department of Personnel and Training had written to the administrative officials of 34 departments seeking inputs.

The government is working on an exercise to rotate officers working in sensitive posts to improve efficiency.

 


Wednesday 4 May 2016

YouTube will reportedly launch a paid subscription TV service in 2017

Just hours after Hulu confirmed that it would be launching a premium internet TV service in 2017, Bloomberg is reporting that online video giant YouTube will be doing the same. According to the report, YouTube’s paid subscription service will be called Unplugged and will offer a bundle of streaming cable TV channels.
Those familiar with the matter tell Bloomberg that YouTube has “overhauled its technical architecture” in order to support this project, which will be one of the company’s biggest priorities leading up to a planned launch as early as 2017. NBCUniversal, Viacom, Fox and CBS have all reportedly been approached about the service, but the unnamed sources say that YouTube has yet to secure any rights. Plans to introduce a TV service have apparently been in the works since 2012, but now that other companies have begun to successfully introduce their own alternatives (most notably Sling and Vue), YouTube’s plans have “taken on new urgency.”
As for how YouTube would package channels, sources say that the company is considering bundling the four major U.S. networks with several popular cable channels — a so-called “skinny bundle.” YouTube wants to keep the monthly subscription cost below $35, and this might allow them to do that.
There might also be themed bundles, such as a comedy bundle with Comedy Central included or a lifestyle bundle with the Style Network. YouTube would charge a base price for the main bundle and a smaller price for additional themed bundles.
We’ll keep an eye out for any further breaking news on YouTube Unplugged.