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Karnataka minister unhappy with Apple CEO for skipping Bengaluru

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R V Deshpande

Bengaluru: Even though tech giant Apple announced an accelerator facility in Bengaluru, Karnataka’s Industrial Minister R V Deshpande expressed his disappointment over the company’s CEO Tim Cook not visiting the city on his maiden trip to India.

“Thank you very much for visiting India. However, we in Karnataka are disappointed as this time you could not make it to Bengaluru, the Silicon City of India. I am sure in your next visit you will first land in Bengaluru and then go to other parts of our country,” Deshpande said in a letter to Cook.

He, however, welcomed Apple’s initiative for Bengaluru. “Indian IT professionals will get a boost as part of a global programme. I am looking forward to your group to make more and more investments in India, more so in Karnataka,” the minister said.

Bengaluru is increasingly being sidelined by global investors as infrastructure is crumbling. The Congress government is under pressure to improve the infrastructure in the city, which is already witnessing flight of capital.

(Agencies)

Apple’s Cook meets Modi; discusses manufacturing possibilities

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tim cook modi

New Delhi: Showing interest in making Apple products in India, the global technology giant’s chief Tim Cook today discussed with Prime Minister Narendra Modi the “possibilities of manufacturing” and tapping the young talent pool in the country.

On his maiden visit to India, the Apple CEO also discussed with Modi issues regarding cyber-security and data encryption. “Cook shared Apple Inc’s future plans for India. He spoke of the possibilities of manufacturing and retailing in India. He appreciated the breadth of young talent in India and said the youth have significant skills which Apple would like to tap,” an official statement said.

The head of the US-based Apple, which makes iconic iPhones and Mac computers, has already announced during this trip setting of an app development centre in Bengaluru and one for maps in Hyderabad.

During his meeting with Modi, Cook highlighted the immense potential for app development in the country. He also launched an updated version of the PM’s mobile app at the meeting.

He narrated to Prime Minister the experiences including a visit to Siddhivinayak temple in Mumbai and watching a cricket match in Kanpur.

Modi, appreciating Cook, said in India “seeing is believing” and added these experiences would definitely steer his business decisions.

After the meeting, Modi tweeted: “Thank you @tim_cook! Friends, welcome & happy volunteering. Your views and efforts are always enriching.” He also shared photos with the Apple CEO on his Twitter handle.

Cook, in a response, tweeted: “Thanks PM @narendramodi for a great meeting. Already looking forward to next visit to India. Best wishes on the app!” He also appreciated Prime Minister’s initiatives on ease of doing business and renewable energy, the statement read. Cupertino-based Apple runs on 93 per cent renewable energy and Cook spoke of plans to move Apple’s entire supply chain to renewable energy.

Meanwhile, delegation members accompanying Apple CEO also spoke of their experiences in rural Rajasthan, where several villages have recently been electrified and women are being skilled to assemble and operate solar energy equipment.

Both Cook and Modi shared stories of entrepreneurship that they had come across in app development and renewable energy, the statement added.

Cook said the company is looking to be in India for a long run and it is “exactly the right time” to be in India as telecom firms roll out 4G high speed internet services.

Apple, which is seeing declining sales elsewhere in the world, is betting big on India for growth as sales here saw an impressive 56 per cent growth during January-March.

The company has been pushing for introducing refurbished phones in the country that may help in making its smartphones more affordable to a larger audience. However, the government is yet to take a call on the matter.

Modi explained ‘Digital India’ initiative and identified three key objectives of as e-education, health and increasing farmers’ incomes.

Prime Minister sought support from Apple in furthering these objectives and also encouraged Cook to help the global community to cope with the challenges of cyber-crime. Cook also congratulated Modi on recent election results and spoke about his visit to India and that he had been received with great warmth.

Cook, who is on a four-day trip to India, has met some of the key leaders of India Inc, including ICICI Bank’s Chanda Kochhar, Tata Group Chairman Cyrus Mistry and Tata Consultancy Services CEO N Chandrasekaran.

The updated version of ‘Narendra Modi Mobile App’ contains a new volunteering network on the app. “I urge you to have a look at the new feature ‘My Network’ that empowers you to contribute on lively and enriching forums where you can share your ideas and deliberate with others. You will also enjoy the daily tasks on the App,” Modi tweeted.

(PTI)

23-year-old African youth beaten to death in New Delhi

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murder-Delhi

New Delhi: A 23-year-old Congolese national was allegedly beaten to death by a group of men in south Delhi’s Vasant Kunj area, police said Saturday.

The incident took place around 11.45 pm Friday when the man, M T Olivia had a heated argument with a group of three persons at Kishangadh locality in Vasant Kunj.

“A case of murder has been registered. We are checking CCTV footage to identify the accused,” additional DCP (South) Nupur Prasad said.

What exactly led to the argument between Olivia and the group is yet to be ascertained. The case is being probed from all angles including robbery and a possible racist attack on the African national.

The Embassy of Congo has been informed about the incident.

Olivia taught foreign languages at a private institute here. He lived in South Extension area. Why he had gone to Kishangadh at that hour has also not been ascertained yet, police said.

It was another group of locals who rescued Olivia and called up police. He was rushed to a hospital, where he later succumbed to his injuries.

The locals, however, could not identify the perpetrators or say what had led to the incident. Investigation is underway, police added.

(PTI)

Enough of introspection, time for action: Digvijay Singh

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Digvijaya Singh

New Delhi: A day after he called for a “major surgery” in the party after its losses in assembly polls, Congress general secretary Dijviajay Singh said on Friday that the party needs to act now as “enough introspection” has been done after the 2014 Lok Sabha debacle.

“Now, whatever introspection had to happen has happened. What we need now is action, and that action has to be decided by the president (Sonia Gandhi) and vice president (Rahul Gandhi),” Dhe told India Today TV.

Singh’s comments came a day after Sonia Gandhi talked of introspection following the debacle in Assam, Kerala, West Bengal and Tamil Nadu. Singh said the party leadership had taken the feedback post 2014 and hoped that a roadmap had been prepared.

“Whatever I had to say and other thousands of people had to say, they have given their suggestions to the party which have been sifted. Hopefully they have planned a road map.

“So when I talk of surgery, it is the surgeon who has to decide the surgery he or she wants to do,” he added.

Singh had on Thursday called for a major surgery in the Congress after its electoral defeat.

While the Congress lost power in Kerala and Assam, it fared miserably in Tamil Nadu and failed to click in West Bengal. Its sole consolation came in Puducherry where along with the DMK it captured power.

Singh said he had confidence in Sonia Gandhi’s and Rahul Gandhi’s leadership.

On demands within the party that Rahul Gandhi’s sister Priyanka should play a more active role, Digvijaya Singh said it was her call.

“She has got charisma. She is articulate and she has got great resemblance to Indira Gandhi…”

(IANS)

Several Indians indicted in marriage visa fraud case in US

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USA

Washington: Several Indians and Indian- Americans have been indicted on charges of a U-Visa fraud and arranging fake marriages for the purpose of entering the US, authorities said.

Investigating authorities said these people would enter into a fraud marriage with the citizens of the US for the purpose of entering the country and then also fraudulently apply for a special category of U-visa which is normally given to victims of certain crimes who have suffered mental or physical abuse and are helpful to law enforcement.

The indictment alleges that Simpson Lloyd Goodman, a licensed attorney, submitted fraudulent documents to US Citizenship and immigration Services for the purpose of obtaining U-Visas for other co-defendants.

The false documents submitted to USCIS included falsified police reports allegedly prepared by Officer Ivory Lee Harris of the Jackson Police Department. Other defendants engaged in and caused various acts which enabled defendants to attempt to obtain U-Visas from USCIS.

Those charged under U-Visa fraud are Sachin Girishkumar Patel, Tarunkumar Purushottambhai Patel, Simpson Lloyd Goodman, Ivory Lee Harris, Sanjay Rathilal Patel, Maheshkumar Mangaldas Patel, Ashaben Mukeshbhai Patel, Rajan Nareshkumar Patel, Gopaldas Khodabhai Patel, Sachin Khodidas Patel and Baldevbhai Ramabhai Patel.

In the 16 count marriage fraud indictment, it is alleged that they would enter into marriages between persons who were already citizens of the US solely for the purpose of obtaining immigration status to which the aliens would not otherwise be entitled.

“These marriages were not entered into because of mutual love and affection between the parties, but solely to create a legal status that would provide a basis for immigration status for the alien partner and usually for some economic benefit to the United States citizen,” the Department of Justice said.

The individuals indicted under marriage fraud are Sachin Girishkumar Patel, Tarunkumar Purushottambhai Patel, Simpson Lloyd Goodman, Chirag Nilesh Patel, Dana Cheetara Adams, Brandy Nicole Edwards, Terilynn Rankin, Sejal Sanjay Kakadia, Jayantibhai Kalidas Chaudhari, Virendra Rambachan Rajput, and Javona Shanice Rajput.

“The defendants allegedly circumvented the laws and submitted fraudulent documents that are critical to obtaining immigration status,” said US Attorney Gregory K Davis.

“These arrests were made as a result of the great work of our law enforcement partners who stopped 19 people who sought to undermine the integrity of our nation’s immigration system,” he said.

The maximum penalties for the crimes charged in the indictments are: conspiracy to commit fraud and misuse of visa permits – five years in prison and USD 250,000 fine per count; fraud and misuse of Visa permits – 10 years in prison and a USD 250,000 fine per count; mail fraud – 20 years in prison and a USD 250,000 fine per count; and wire fraud – 20 years in prison and a USD 250,000 fine.

(PTI)

Cabinet clears ordinance to keep state boards out of NEET ambit this year

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NEET

New Delhi: Government today approved promulgation of an ordinance to keep state boards out of the ambit of uniform medical entrance examination, NEET, for one academic year.

The executive order is aimed at “partially” overturning a Supreme Court verdict which said all government colleges, deemed universities and private medical colleges would be covered under NEET.

The next phase of the exam is scheduled for July 24. Nearly 6.5 lakh students have already sat for the first phase of NEET held on May 1.

Once the ordinance is issued, students of state government boards will not have to sit for NEET on July 24. They, however, will have to become part of the uniform entrance exam from next academic session, government sources clarified.

The exam will be applicable for those applying for Central government and private medical colleges.

The states flagged various issues in the health ministers conference recently, including problems related to language and syllabus for students. They said the students affiliated to state boards will find it tough to appear for the uniform test as early as July.

Health Minister J P Nadda is likely to meet President Pranab Mukherjee to explain him about the need for the ordinance.

(PTI)

Chandy resigns, P Vijayan to be next Kerala CM

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PINARAYI VIJAYAN

Thiruvananthapuram: CPI-M politburo member Pinarayi Vijayan has been chosen as next Chief Minister of Kerala, a day after the marxist party-led LDF romped home to power in the Assembly polls, according to reports.

The CPI-M secretariat and party’s Kerala committee met here today in the presence of General Secretary Sitaram Yechury.

CPI-M veteran V S Achuthanandan and party politburo member Pinarayi Vijayan, both of whom were elected to the Assembly, were being considered for the top slot. The meeting assumed significance as it had to choose one among them.

In the 140-member state Assembly, CPI-M-led LDF won 91 seats, UDF headed by Congress 47, BJP and Independents, one each.

Chandy resigns

Kerala Chief Minister Oommen Chandy today resigned from the post following the defeat of Congress-led UDF in the Assembly election.

Chandy drove to the Raj Bhavan this morning around 1030 hrs and submitted his resignation letter to Governor P Sathasivam.

He told reporters that UDF and Congress would be meeting next week to discuss the poll debacle and take stock of the situation.

UDF, which was trounced by CPI(M) headed LDF in the May 16 polls, bagged only 47 seats against the rival front’s 91.

“This is only a temporary phenomena and Congress will come back with strength,” 72-year-old Chandy said, adding, “the party and Front have the responsibility for the setback, but as chairman of UDF, I have more responsibility”.

On reports that he was not willing to take up the post of Leader of Opposition, he said, “It is a matter to be discussed at the party level. I have nothing more to say.”

Chandy said that he would be going to the state Secretariat to meet his office staff and other employees.

Chandy has the distinction of being the only Congress chief minister to have completed the five-year term in office.

(Agencies)

 

Shane Watson bats for P&G Shiksha programme

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Shane Watson

Bengaluru: Veteran Australian cricketer Shane Watson on Thursday batted for P&G’s flagship Corporate Social Responsibility programme P&G Shiksha and emphasised the importance of education in the lives of children.

P&G Shiksha has supported over 450 schools till date, reaching over 8,00,000 underprivileged children. In its 12th year, it launched ‘Shiksha Superheroes’, a campaign to acknowledge consumers, the real-life superheroes who make a simple brand choice of buying P&G products.

Watson attended an event at the P&G Shiksha School here. The 34-year-old encouraged the people of India and Bengaluru to be Shiksha Superheroes by simply choosing P&G products and contribute to the education of underprivileged children. During the event, Watson also shared his school memories with the children and emphasised on the importance of sports and extra-curricular activities in their holistic development while teaching them a few cricketing strokes.

The Shiksha school children were quite excited to meet their hero and also requested him to play the guitar. Watson immediately obliged and charmed his young fans by strumming the guitar on his favourite song.

During the school visit, the Royal Challengers Bangalore (RCB) all-rounder remarked, “Today, while I spent time with P&G Shiksha children, I was nostalgic reminiscing my school days.

“It felt amazing to interact with these young kids who are really talented and have a bright future ahead of them.

“This is the first time I associated with P&G Shiksha and I am delighted to witness the difference that P&G Shiksha has made by building and supporting more than 450 schools that will impact the lives of 800,000 children.”

(IANS)

Himalaya’s AyurWhiz, a Pan – India competition to find the brightest minds in Ayurveda culminates at Bangalore

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ayurwhiz

Bangalore: The Himalaya Drug Company, India’s leading Herbal Health and Personal Care Company organized its final round for the AMC (Ayurvedic Medical College) Connect on 18th May 2016 at J N Auditorium, Bangalore. The initiative aims to recognize academic excellence of students in Ayurveda Medical Colleges across the country. The 8 shortlisted students from over 22 states – and four different zones were chosen post multiple elimination rounds.

Through this initiative, Himalaya aims to give young and bright minds of Ayurveda a national platform, to meet and interact with students of other colleges, exchange views, discuss the future of this science and of course compete in AyurWhiz, a national quiz competition.

Till date the competition has more than 6,000 students through a rigorous screening process in the preliminary rounds which includes over 130 preliminary contests in all the colleges, 14 cluster contests for Karnataka & Maharashtra states, 22 state level finals and four zonal finals.

The four teams, who made it to the finals, were:
· State Ayurveda College, Lucknow UP – representing North zone

· Government Ayurveda College, Guwahati Assam – representing East zone

· SDM College of Ayurveda, Udupi – representing South zone

· Government Ashtang Ayurveda College, Indore – representing West zone

This unique initiative under AMC Connect was conceptualised and launched by Mr. Philipe Haydon – CEO, The Himalaya Drug Company in the year 2009. Mr. Haydon, an ardent proponent of the science of Ayurveda, spoke at the 3rd annual competition of AyurWhiz, “Ayurveda’s time has finally come. Today, it is widely recognised that Ayurveda is vital to a holistic, integrated and patient-centric model of healthcare. The rise of lifestyle diseases has brought the science of Ayurveda, quite literally, ‘the science of life’, into the mainstream, because it offers efficacious solutions for relief in and management of chronic conditions. To ensure that India becomes the hub of innovative and contemporary Ayurveda, we need to encourage, engage and elevate young students who are pursuing the study of this wonderful science. This is why an initiative like Ayurrwhiz is important.”

Dr. Rangesh, Chief Scientific Officer, The Himalaya Drug Company, emphasised the need for a trans-disciplinary approach to Ayurveda, which propagates collaboration between different scientific disciplines and streams of medicine to arrive at a common solution, one that is safe and most effective for the patient.

The National quiz was moderated by Dr. Srikanth, National Manager – Scientific Services, Pharmaceutical, The Himalaya Drug Company, who through his interactive approach and interesting questions took over the stage. It was a highly competitive contest with all teams putting up a good show. Dr. Sandya Lakshim and Dr. Nandeesh from SDM College Ayurveda, Udupi, Mangalore who represented Team South adjudged the winners of the final competition.

About The Himalaya Drug Company: The Himalaya Drug Company was founded in 1930 by Mr M. Manal with a vision to bring Ayurveda to society in a contemporary form and to unravel the mystery behind the 5,000-year-old system of medicine. The legacy of researching nature forms the foundation of Himalaya’s operations. Himalaya has pioneered the use of modern science to rediscover and validate Ayurveda’s secrets. Today, with a history spanning more than eight decades in herbal research, Himalaya has positioned itself as a brand that cares about not only enriching people’s lives but also the environment. With their ‘head to heel’ range of products Himalaya aims to provide a holistic solution to everyday ailments that affect our bodies.

Seeped in a legacy of researching nature, Himalaya has successfully been able to harness the science of Ayurveda through cutting-edge research to become a brand that is safe, gentle and trustworthy.

Punjab National Bank – Asset quality pangs; long haul ahead

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punjab national bank

Punjab National Bank (PNB IN, INR 76, Buy)

Punjab National Bank’s (PNB) Q4FY16 profitability was hit by continued disappointment on asset quality. Slippages spiked to INR235bn (24% versus run-rate of <6% in past 6 quarters) with GNPLs touching 12.9%. This resulted in slower revenue momentum (NII fell >27% YoY) with NIMs taking a knock due to higher interest income reversal. Loan growth, at ~10% (albeit slower than trend), was better than peers with focus on granularity (small ticket size loans >57% of loans). Given weak RoE profile and elevated stress PNB is not preferred pick. But, considering valuations of 0.5x FY18E book after factoring in potential stress, focus on granularity & healthy liability franchise (CASA > 40%), we maintain ‘BUY’.

Stress formation dealt a nasty blow, outlook cautious
Slippages spiked to INR235bn (crossing 20% mark), taking GNPLs to 12.9% (versus 8.5% in Q3FY16). While part of it was attributable to RBI’s asset quality review, even adjusted for that slippages were on higher side. A large part of stress emanated from restructured book (>40% of slippages), with overall stress pool (NNPLs plus restructured) coming in at 13.5% (14.4% in Q3FY16). Sector-wise iron & steel, chemical and other infra sectors were main contributors to stress. While management guided for lower incremental stress going ahead, SMA-II accounts of INR110bn (~3% of book) and high exposure to stressed segments (I&S and power), keeps us guarded.

Revenue traction sluggish; lower opex cushions profitability
High asset quality stress also took a toll on revenue momentum (NII fell >30% QoQ) with NIMs dipping owing to higher interest income reversal (NIMs down >90bps QoQ). However, lower opex (down >16% YoY, gains on pension assets of ~INR4bn) and higher recovery from written-off accounts (core fee was softer) cushioned the impact.

Outlook and valuations: Asset quality vital; maintain ‘BUY’
PNB’s performance was marred by dismal asset quality, leading to loss in FY16. Incorporating lower NIMs and lower growth, we lower FY17/18E EPS by 10%/9%. While the bank has relatively higher dilution risk at weak multiple, government’s assurance of capital support to leading PSU banks will cushion impact. Given weak RoE profile and elevated stress, PNB is not a preferred pick. But, valuations of 0.5x FY18E book after factoring in potential stress, focus on granularity and healthy liability franchise, we maintain ‘BUY/SP’ with TP of INR120.

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