Thursday, 7 April 2011

How good are Obama's chances to win a second term?


Washington, Apr 5 (ANI): US President Barack Obama has officially started his re-election campaign that has raised questions about his chances of winning the 2012 presidential elections.
A poll conducted last month suggested Obama would beat American businessman Mitt Romney by nine points and Minnesota politician Tim Pawlenty by 19 points in a hypothetical head-to-head matchup if the election were going on at this moment.
The margin was narrower against a generic Republican candidate, but even then Obama held the edge, 45 percent to 40 percent. Obama's approval rating two years into his term was 49 percent, which was higher than two of the last two three presidents to win a second term- Presidents Reagan and Clinton.
The potential candidates like Indiana's Governor Mitch Daniels and Utah's Governor John Huntsman, who would seem to have the strongest appeal to voters, will have a tough time getting through the primaries if they enter the race.
Even if someone with relatively broad appeal wins the nomination, they will be linked at some level to the more polarizing figures in their party, The CBS reports.
Then there is the prospect of a strong third-party candidate making waves in the general election. If the Tea Party backs a challenger to a Republican nominee it sees as too moderate, the conservative vote could be split, making Obama's path to victory much easier.
Another important factor is the power of incumbency. Incumbents have the advantage of being a known quantity and even voters not entirely sold on a president tend to favor the known over the unknown.
Next is the money factor, Obama showed himself to be an astounding fundraiser in 2008, raising a staggering 750 million dollars, he is expected to potentially hit the 1 billion dollars mark this time.
Republicans will fight hard to match Obama on the money front.
Also, former political operative Tom Cole suggested that the 2012 electorate would be very different than the electorate in 2010. "It's going to be younger, browner, and more to the left," he said.
The young and minority voters who came out for Obama in 2008 and then, in many cases, sat out the midterms last year will likely be back, which is good news for the president as well as other Democrats, he said.
All this does not necessarily mean Obama will win, a lot can and will happen between now and November 2012. But the president's relative popularity, coupled with the seeming weakness of the GOP field and the improving economy, suggest that he is well positioned to secure a second term. (ANI)

Scientists find superbugs in Delhi drinking water

LONDON (Reuters) - A gene that makes bugs highly resistant to almost all known antibiotics has been found in bacteria in water supplies in New Delhi used by local people for drinking, washing and cooking, scientists said on Thursday.
The NDM 1 gene, which creates what some experts describe as "super superbugs", has spread to germs that cause cholera and dysentery, and is circulating freely in other bacteria in New Delhi, a city of 14 million people, the researchers said.
"The inhabitants of New Delhi are continually being exposed to multidrug-resistant and NDM 1-positive bacteria", said Mark Toleman of Britain's Cardiff University School of Medicine, who published the findings in a study on Thursday.
A "substantial number" of them are consuming such bacteria on a daily basis, he told a briefing in London. "We believe we have discovered a very significant underlying source of NDM 1 in the capital city of India," he said.
NDM 1, or New Delhi metallo-beta-lactamase 1, makes bacteria resistant to almost all antibiotics, including the most powerful class, called carbapenems.
It first emerged in India three years ago and has now spread across the world. It has been found in a wide variety of bugs, including familiar pathogens like Escherichia coli, or E. coli.
No new drugs are on the horizon for at least 5-6 years to tackle it and experts are concerned that only a few major drug companies, such as GlaxoSmithKline and AstraZeneca, still have strong antibiotic development programmes.
Toleman's study, carried out with Cardiff University's Timothy Walsh and published in The Lancet Infectious Diseases journal, investigated how common NDM 1-producing bacteria are in community waste seepage -- such as water pools or rivulets in streets -- and tap water in urban New Delhi.
The researchers collected 171 swabs from seepage water and 50 public tap water samples from sites within a 12 kilometre radius of central New Delhi between September and October 2010.
The NDM 1 gene was found in two of the drinking-water samples and 51 of seepage samples, the researchers said, and bacteria positive for NDM 1 were grown from two drinking-water samples and 12 seepage samples.
"We would expect that perhaps as many as half a million people are carrying NDM 1-producing bacteria as normal (gut) flora in New Dehli alone," Toleman said.
Experts say the spread of superbugs threatens whole swathes of modern medicine, which cannot be practiced if doctors have no effective antibiotics to ward off infections during surgery, intensive care or cancer treatments like chemotherapy.
In a commentary about Walsh and Toleman's findings, Mohd Shahid from Jawaharlal Nehru Medical College and Hospital in Uttar Pradesh, India, said global action was needed.
"The potential for wider international spread of ... NDM 1 is real and should not be ignored," he wrote.
The World Health Organisation (WHO) has designated April 7 as World Health Day and under the slogan "No action today, no cure tomorrow" it is campaigning about the risks of life-saving antibiotics losing their healing power.
"We are at a critical point in time where antibiotic resistance is reaching unprecedented levels," said Zsuzsanna Jakab, the WHO's regional director for Europe.
"Given the growth of travel and trade in Europe and across the world, people should be aware that until all countries tackle this, no country alone can be safe."

Younger generation set to industrialise India: Investor


India's geNext biz tycoons
Gurdip Singh Singapore, April 6 (PTI) Young Indians will lead the next wave of change to make India a truly industrialised nation in the next 10 to 15 years, says a Foreign Direct Investor in South Asia''s largest economy.
"I have no doubts that the next biggest change will be brought about by the country''s younger generation, putting India in the rightful place as an industrialised country by 2025," Singapore businessman Sat Pal Khattar said in an interview with PTI today.
Khattar, who was awarded the Padma Shri by India this year, is one of the leading Singaporean businessmen, with a wide range of investments in the banking and hotel sectors, information technology companies and agri-businesses.
"We have seen dramatic change in the Indian business environment over the last two decades, but India needs to give more freedom to the business sector to attract foreign direct investment (FDI) and become a world-class economy," said Khattar, who has been investing in India since the early 1990s.
"India should not miss the opportunities to further grow its economy. I am confident that the young Indians, being the next power players in the economic and political environment, will not let go this opportunity to turn India into the next powerhouse," he said.
India is still short of having a world-class infrastructure and would have to give priority to developing the real estate sector, especially housing for the lower- and middle-income groups, observed Khattar, chairman of his own investment company Khattar Holdings Pte Ltd in Singapore.
"Giving a roof to every citizen is any government''s first priority in developing the country and India needs to do that immediately," said Mr Khattar, who has seen the massive transformation of Singapore economy from a the Third World to the First World.
He cited Singapore''s public housing scheme, housing 85 per cent of the population, saying this was the city state''s government first priority in the early days of economic development.
The lawyer turned businessman has the legal know-how and corporate investment expertise and is today a global investor with specific focus on India.
Having come through the 1990s challenges of getting project approvals and operational start-ups, Khattar has ambitious expansion plans in India.
"We are looking at every business opportunity in India," he said, adding that future projects include media and advertising, software skill and human capital development and participation in ongoing business to lend financial and international market strength. .

Indians among most vacation deprived: Survey


New Delhi, April 5 (IANS) 'All work, no play' may be the credo India's young workforce swears by. The youth may be India's demographic dividend, but they are also among the most vacation deprived in the world, a survey said Tuesday.
According to a Vacation Deprivation survey, India has emerged as the fourth most vacation deprived country after Japan, the US and Australia.
Young Indians have a tendency of being workoholics as a 'as a means to achieve faster career growth,' says the study by online travel company Expedia.co.
The study says that on an average, Indians are entitled to 26 annual leave days but are able to avail of 22 leave days on an average. However, 35 percent of those surveyed said they were not able to take more than 15 days of annual leaves.
The survey was carried out amongst service class professionals at managerial levels and above in 11 countries in 2010, with over 1,000 respondents per country. The India survey was conducted in Delhi, Mumbai and Bangalore.
Japan, the most holiday-deprived nation for the second year in a row, receives on average 16.5 days of annual leave. However, 94 per cent of Japanese do not take all their leave days, taking on an average just 9 days of their entitled annual leaves.
On the other hand, in France, which ranks as the world's most holiday-rich nation, the average employee receives 37.5 annual leave days per year (and takes on an average 34.5 of those days).
'This is the first time that we have undertaken the annual Vacation Deprivation survey in India. The study provides interesting insights into the key factors discouraging most Indians from taking their vacation - lack of choice and flexibility in the holiday offers emerged a few factors,' said Expedia.co.in marketing head Manmeet Ahluwalia.
The survey shows only 37 percent of the respondents from India were able to take all their vacation leaves. Over 22 percent Indian respondents stated that their bosses were not supportive of employees taking all of their annual leave entitlements.
Moreover, Indians showed greater orientation towards family holidays. Over 18 percent respondents did not take their vacations because their spouse or children could not getting leaves at the same time.

Hiring activities pick up in March, says Monster.com


New Delhi, Apr 7 (PTI) Reflecting better labour market conditions, hiring activities picked up in March primarily led by IT and retail sectors, according to Monster.com.
Online job portal Monster.com''s employment index rose to 118 last March from 116 in February.
The index provides a broad indication of demand for jobs online.
"The index has continued to be strong, recording double digit year-over-year growth at 16 per cent, as economic recovery progresses at a steady pace," Monster.com''s Managing Director (India/Middle East/Southeast Asia) Sanjay Modi said.
Private sector hiring, particularly in IT and Retail has been fueling growth, he added.
Apart from IT and BPO/ITES areas, other sectors with good hiring trends, include engineering, cement, construction, iron/steel and BFSI (Banking Financial Services Insurance).
Among the cities, Coimbatore, Mumbai, Kochi, Chennai and Baroda.
"Coimbatore (up 38 per cent), Mumbai (up 31 per cent), Kochi (up 30 per cent) continued to remain among top annual growth markets in March," Monster.com said.

ELSS Mutual Fund – a wealth generator


, On Tuesday 5 April 2011, 10:02 AM
Most of the tax saving instruments under Section 80C are savings oriented instruments with returns after adjusting for inflation either in the negative or slightly positive. The exceptions to this are the ULIPs (Life and Pension Funds) and the ELSS Mutual Funds. The advantage with ELSS compared to the ULIPs is the frequency (mostly a single investment or a monthly investment for a year) and term for investment, for getting good returns.
Does ELSS diversify?
An ELSS (Equity Linked Savings Scheme) is a mutual fund that has to invest a minimum of 80% in Equity Shares. The balance 20% can be in debt, money market instruments, cash or even more equity. There is a 3 year lock-in period for the ELSS mutual funds. Post the 36 months, the funds remain invested and work like any other open-ended mutual fund.
Why an ELSS?
It has been an established fact that in the long run equity gives a much higher inflation adjusted returns when compared to any other investment except for maybe real estate. The top 5 ELSS funds have given returns from 22% to 26% compounded annually over the past 5 years. This is again higher than the market (Nifty) returns over the past 5 years which is at 19%.
ELSS is part of the Section 80C instruments which are cumulatively eligible for a deduction from income up to Rs.1L . This gives the tax payers benefits from 10% to 30% (excluding the educational cess) based on their current tax slab.
The return (maturity and the dividend [(if opted for]) from the ELSS is also tax free under the present EEE (Exempt - Exempt - Exempt) regime.  However, with the DTC regime tax benefits could be phased out and is under debate.
The 3 year lock-in period makes sure one stays invested. Otherwise in a normal mutual fund one tends to withdraw in case of any monetary requirement. The lock-in period also helps the fund managers to plan their investments better and also to hold on to valuable investments as they do not have to worry about sudden redemption pressures. The above logic is proved in the higher returns achieved by the ELSS funds when compared to the market returns. Wealth creation because of this is much better than most of the other mutual funds. Only some sector based mutual funds have given better returns than the ELSS fund in the past 5 years.
Options with the ELSS
Salaried people with a tight budget can opt for a monthly investment (SIP using ECS). The automatic investment from the bank through ECS makes it an easy way to invest.
Those who want an income in between can opt for the dividend option. This is particularly suitable for senior citizens. Also, the ELSS gives a tax free return compared to a bank or company deposit, which is taxable.
Limitations with ELSS
The investment in an ELSS cannot be switched or closed before the 3 years are completed form the date of investment. During market downturns, this becomes a limitation as one can only sit and watch the funds go down. One has the option of averaging when the market goes down, but an investment to save tax may not be required in the year in which the market is going down.
The lock-in works negatively also for the monthly investment because the lock-in is calculated from the date of the investment and not from the date the scheme was started. This means that the 12th month's investment can be withdrawn only on the 48th month. This is a disadvantage compared to ULIPs, where the lock-in is from the date of start of the scheme.
In summary
Most fund houses start an ELSS regular investment at Rs.500/- per month. Single investments start generally at Rs.5000/-. This makes ELSS accessible to all tax payers. With the compulsory lock-in giving better returns than other investments, even the most risk averse can look at an exposure to the ELSS fund for their tax benefits.
By BankBazaar.com - an online marketplace for your personal loan and home loan needs.

Richard Branson unveils deep-sea submarine plans

LOS ANGELES (Reuters) - Virgin Group founder Richard Branson, known for such exploits as trying to balloon around the world, said on Tuesday he planned to explore the deepest parts of the world's oceans with a jet-like submarine.
The 18-foot (5-1/2 meter) vessel is capable of descents of more than 36,000 feet (11,000 meters) below the surface, said Branson at a news conference in Newport Beach, California.
His project, called Virgin Oceanic, will undertake five dives over two years. The first is set for later this year, when the team plans to explore the Pacific Ocean's Mariana Trench at a depth near 36,000 feet.
Branson plans to pilot a second dive himself, into the Puerto Rico Trench in the Atlantic Ocean.
Other areas to be explored are the Molloy Deep in the Arctic Ocean, South Sandwich Trench in the Southern Ocean and Diamantina in the Indian Ocean.
"There is just so much to explore, so much to discover," Branson told reporters. "We are going to obviously come across some fascinating creatures and learn some fascinating things that will hopefully be useful for mankind."
Branson said he expects the project to cost less than $10 million.
Branson said Virgin Oceanic could one day take passengers on deep sea dives, just as his Virgin Galactic project may one day take wealthy passengers on suborbital spaceflights.
Branson launched the Virgin chain of record stores in the 1970s, and his business holdings have grown to include a music recording label and Virgin Atlantic Airlines.
He has used his fortune to fund such efforts as trying to circumnavigate the globe in a balloon and set sailing records.
Last month, a suborbital spaceship owned by Branson's Virgin Galactic was attached to a carrier aircraft on a three-hour flight over California's Mojave Desert.
Its test flights are scheduled through 2011 with commercial operations targeted for 2012.
The company has collected deposits and fares from more than 330 aspiring amateur astronauts, who will each be charged $200,000 to experience suborbital spaceflight.
(Reporting by Alex Dobuzinskis, editing by Ellen Wulfhorst and Todd Eastham)