Designed for enterprise campuses, data centers and other high-performance network environments, the WatchGuard XTM 1050 sets a new standard for high security and high performance by achieving 10Gbps firewall and 2Gbps IPSec throughput through dual quad-core Intel processors and advanced crypto-acceleration hardware. Coupled with raw power and performance, the WatchGuard XTM 1050 also incorporates cornerstone elements of WatchGuard’s XTM vision, including uncompromising security, extensible networking and management features, and unparalleled ownership properties.

“Network threats are evolving and becoming more sophisticated, which has a deleterious effect to businesses and consumers,” said Eric Aarrestad, vice president of marketing at WatchGuard Technologies. “By making network security extensible, WatchGuard takes an unequaled position in the industry. The XTM 1050 embodies our vision of bringing extensible protection and networking in one high-performance, easy to manage and easy to own appliance.”

Leading with Extensible Protection

WatchGuard, the pioneer of deep packet inspection firewalls coupled with application proxy technologies, innovates again with the XTM 1050 by including two new high security features: HTTPS inspection and VoIP security.

Although the “S” in HTTPS stands for secure, it also means to network administrators that HTTPS packets are virtually invisible to inspection, which opens networks to potential “drive-by downloads,” or other malicious applications. With WatchGuard’s full HTTPS proxy technology in the XTM 1050, no longer is HTTPS a risk waiting to be exploited.

Likewise, WatchGuard recognizes that as more enterprise and mid-market businesses adopt VoIP, they open themselves to exploits. By utilizing a host of high security technologies, including network address translation, port obfuscation, and SIP and H.323 proxies, the WatchGuard XTM 1050 becomes an ideal security appliance to thwart would-be VoIP systems and network hackers.

Like all other WatchGuard network security appliances, the XTM 1050 will sport optional security service subscriptions, including WatchGuard SpamBlocker with virus outbreak detection, WatchGuard Web for URL and content filtering and WatchGuard Gateway Anti-Virus and IMPS/IDS. As well, all WatchGuard security appliances come with LiveSecurity Service, which provides free software updates, expert support and breaking security alerts.

Providing Extensible Networking Functionality

The WatchGuard XTM 1050 integrates 12 line-speed, high density Gigabit Ethernet ports with the option to upgrade 4 ports to fiber. Adding to this multi-port design, WatchGuard unveils several firsts for a device of this class. This includes active-active multi-WAN load balancing to achieve high availability (HA), and the ability to cluster two WatchGuard XTM 1050 appliances as a single, logical unit, thus achieving nearly 2X throughput. As well, the XTM 1050 includes WAN and VPN failover with dynamic routing and traffic shaping capabilities to provide maximum network performance and redundancy for the most demanding environments.

Physically, WatchGuard beefs up the hardware components of its XTM 1050 line by including a bevy of enterprise-level features, such as dual hot-swappable power supplies and fans. This further adds to the systems’ reliability, uptime, ease of service and investment protection.

Giving Admins Greater Control with Extensible Management

With WatchGuard’s free WatchGuard Systems Manager, administrators gain new insight to user activities and network traffic. Adding to this, for the first time WatchGuard is including a scriptable command line interface (CLI) option with its popular and intuitive management GUI. With a scriptable CLI, administrators will be able to easily manage multiple appliances and create custom management security scripts to make policy enforcement easier and management simpler. As well, the XTM 1050 will include roll-based access control (RBAC) so that administrators can delegate custom management functions while achieving more granular control.

With its easy drag-and-drop VPN tool, administrators will have no trouble in setting up branch office VPNs, and with its centralized policy and VPN management, administrators will be able to uniformly enforce security policies across multiple locations and among multiple users.

WatchGuard XTM 1050 Availability and Pricing

The WatchGuard XTM 1050 will be available in Q4, 2008. Pricing will be announced upon availability. For more information, please go to: www.watchguard.com

Source: Press release distribution via India PRwire

About WatchGuard Technologies, Inc.

Since 1996, WatchGuard® Technologies, Inc. has been the advanced technology leader of network security solutions, providing mission-critical security to hundreds of thousands of businesses worldwide. The WatchGuard family of wired and wireless unified threat management appliances and WatchGuard SSL VPN remote access solutions provide extensible network security, unparalleled network visibility, management and control. WatchGuard products are backed by WatchGuard LiveSecurity® Service, an innovative support, maintenance, and education program. WatchGuard is headquartered in Seattle and has offices serving North America, Europe, Asia Pacific, and Latin America. To learn more, visit http://www.watchguard.com/.

# # #

WatchGuard and LiveSecurity are registered trademarks of WatchGuard Technologies, Inc. All other marks are property of their respective owners.

WatchGuard® Technologies, a global leader in extensible network security and connectivity solutions, today unveiled a preview of its first extensible threat management (XTM) network security appliance, the WatchGuard XTM 1050.

“Service tax is relatively a new concept in India and there are limited judicial case laws available on this matter. There is a lot of ambiguity surrounding the language of the law which is quite broad and generic. This raises a number of issues regarding scope of specific category of services. Though the revenue authorities have been regularly issuing explanatory circulars in relation to the specific issues. Yet, there is, considerable ambiguity in the applicability of the services tax law to various services. I am glad that American Chamber of Commerce in India (AMCHAM) is organizing this event. A platform like this provides an opportunity to discuss, debate issues and bring in clarity which is extremely relevant and beneficial” explains Ajay Singha, Executive Director, American Chamber of Commerce in India

The seminar will feature interesting and enlightening insights from Richard Rekhy, Chairman; Tax & Tariff Committee AMCHAM (Chief Operating Officer, KPMG).Richard will introduce the participants to the pivotal theme and later chair a panel discussion for a better exchange of ideas. Deliberating on the recent developments, amendments and business issues surrounding Service Tax will be S.Harishanker, Executive Director, KPMG India, S.Madhavan, Head, Indirect Tax Practice, PWC India, Atul Gupta, Senior Director, Deloitte India and Ashwini Sachdev, India Tax Director, Microsoft Corporation(India) Pvt.Ltd.

Source: Press release distribution via India PRwire

AMCHAM India

AMCHAM is an exclusive association of American companies operating in India. With over 500 members AMCHAM is headquartered in New Delhi and has five regional chapters in the Country. AMCHAM’s primary objective is to support growth of American investment in India and promote business relations between the two countries.

Shri B Joga Rao Vice President, ITC was the Chief Guest. While speaking on this occasion, he brought out how wealth can be generated from the waste. He has outlined the concept Triple Bottom Line and 3R concept followed by ITC .

Shri GVS Hemantha Rao, Dy. Chief Executive, & MR for ISO Systems , NFC while welcoming the gathering, dealt on various clauses of Indian Constitution on Environment and other environmental laws pertaining to environment protection. Six technical talks were delivered by various groups of NFC on Environmental Aspects.

WED is commemorated every year on 5th June. It is one of the principal vehicles through which the United Nations stimulates worldwide awareness of the environment and enhances political attention and action. World Environment Day was established by the United Nations General Assembly in 1972 to mark the opening of the Stockholm Conference on the Human Environment.

Source: Press release distribution via India PRwire

1. Measures to enhance competitiveness of the sector and attract more overseas investments

1.1 To maintain reduced interest rates on pre-shipment and post-shipment export credit @ BPLR minus 6.5% for the next two years:

Interest on packing credit was reduced to 6.5% below BPLR vide RBI circular No. RBI-2007-2008/199, Notification. No. DDOD.Dir.(EXP).BC.No 54/04.02.01/2007-08 dated 30th November 2007. This has helped the export industry to manage the adverse situation arising out of appreciating rupee. Industry had only four effective months for utilizing the benefit. This rate if extended to another one year would help the exporters immensely. Therefore, this may be agreed to.

2 Measures to enhance import intensity of the Indian leather sector

Leather Sector is one of the few sectors which currently has a low import intensity, of about 14%. Hence, there is a need to enhance the import intensity of the industry so as to enhance availability of essential and critical inputs and also capital goods, so as to enhance its productivity. Keeping this in view, the following measures are suggested with the objective of increasing the import intensity of the Indian leather sector.

3 Remove Excise duty on Footwear and Leather products to encourage exporters to mitigate the risk through domestic market

The leather products industry in India is compartmentalized in to those serving the domestic markets and those supplying to global markets. When rupee appreciated against Dollar, though domestic market could have provided some relief, exporters were not prepared to sell their goods in domestic market as excise duty ranging from 8% to 16% has made their products uncompetitive against the regular suppliers.

With the huge projected growth of the domestic market for the leather products, more and more foreign brands will enter the market in the coming years. The leather sector, however, will not be able to capitalize on this retail boom due to stiff Excise levies on leather products and footwear sectors.

Mr Muktharul Amin says, Exports from Indid of leather and leather products had brightened in the context of decreasing production in Western Europe and stagnating exports from China. The perspective plan prepared by us in this context has projected exports in the current fiscal to reach US Dollar 3.69 Billion. However, figures for period April – October period has shown a negative growth of 2.92% in Rupee terms and 9.43% in US Dollar terms over the previous year (2006-07). Exports in the last fiscal were US Dollar 2.98 Billion. Considering the huge opportunity, exporters have invested heavily in the last few years to add additional capacity. An estimated new 50,000 employment opportunities were also created in the product sector in the last two years. When the Industry was all geared up for a huge increase in exports, unprecedented appreciation of Rupee against US Dollar has put the Leather exports under great strain slowing down exports. This in effect not only halted investments in to the sector but also led to loss of employment.

Source: Press release distribution via India PRwire

The Indian Export Promotion Organisation have acknowledged the labour that has been put into shaping of a multi product and multi location conglomerate from a mere production unit at Unnao and have bestowed upon Superhouse numerous accolades in response. Superhouse has been getting Export Awards regularly and recently the Best Productivity Award was conferred upon the company. This has boosted the spirits and today Superhouse is eyeing an ambitious target of US $ 150 Million in the coming year. The export sale figure for the year 2004-2004 inspite of various bottlenecks in Leather business worldwide have been excellent and the detailed break-up is as follows:-

Finished Leather Rs. 166.11 Million

Leather Footwear Rs. 275.10 Million

Footwear Components Rs. 194.70 Million

Leather Goods/Garments Rs. 200.00 Million

The figures show a substiantial jump over the previous year with almost equal sales in domestic market the net turnover of Superhouse group today stands at around 200 crores.

Not only business but also the environmental issues have witnessed concentrated efforts from the group. With the sole initiative of Superhouse, a common effulent treatment plant was set up in Unnao which treats the effluent from more than a dozen tanneries in and around UPSIDC, Industrial Area, Unnao, before it goes to harm the living beings. The common effluent treatment plant at Unnao which is the result of the initiative of the Superhouse group is one of its kind in Asia and has received acknowledgement and letter of Appreciation from many International bodies like UNIDO and Ministry of Environment and Forest, Government of India. The project is aided by World Bank.

Today Superhouse Group is slowly and steadily moving towards the status of a diversified conglomerate with interests not only in leather, leather products and accessories but also in areas as diverse as real estate, education and entertainment. Superhouse has recently acquired 100 acres of land near Lucknow to set up a modern manufacturing unit for frozen food exports.

The proceeds of the sale will augment the expansion plans of the company. The transaction will not impact the Company’s existing tyre manufacturing operations or affect its existing workmen as the ongoing operations will continue in the usual manner on the balance portion of about 24 acres of land near the same location.

CEAT Tyres was established in 1958. Today it is one of India’s leading tyre manufactures, with an annual turnover of Rs.2391 crores. CEAT’s solid brand equity has empowered the company to establish a strong presence in both, domestic and international markets. CEAT tyres, tubes and flaps are renowned for their superior quality and durability, and are recognized by the famous line ‘born tough’.

CEAT has the widest range of tyres for all user segments – Heavy Duty Trucks & Buses, Light Commercial Vehicles, Earth Movers, Forklifts, Tractors, Trailers, Cars, two & three Wheelers -- up to 17 tyre categories. It has three large tyre manufacturing facilities in India – Mumbai, Nashik & Kerala, apart from its two Sri Lankan plants. CEAT was the first Indian tyre company to establish productin facilities outside India. CEAT is the market leader in Sri Lanka.

Exports are a key thrust area for CEAT. The Company currently exports tyres to over 100 countries and is looking at expanding business and entering newer markets. The company’s exports were Rs 412 crore for the last financial year.

Ushering in a new retail revolution into the Indian tyre industry, the company has plans to extend the number of CEAT Shoppes to over 100 for its customers and non-customers, as part of its strategy to reach out to the vast customer base. These shoppes will be exclusive CEAT retail tyre outlets, providing comprehensive expertise in tyres and tyre services -- all under one roof.

CEAT is the first tyre company in the India to get TS-16949:2002 quality certification

“The company is currently implementing plans to expand its radial car tyres and revitalize its existing product portfolio so as to garner a greater market share and deliver superior value proposition to its customers” said Mr Paras Chowdhary, Managing Director CEAT.

Source: Press release distribution via India PRwire

The original free trade agreement between the two countries was signed in 2005 with the objective to increase trade and investment ties. Singapore had recently made a request for further tariff elimination/reduction for certain products. Consequently, the Government of India has now agreed to eliminate or cut duties on more than 500 products.

"This is a step in the right direction for both countries. The trade between India and Singapore grew nearly 30% to more than US$11 billion during the last fiscal year and the trend is likely to continue", said Head of Business Strategy at AsiaBiz, Mr. Samir Malhotra.

“With this decision in place, more than 90% of the imports from Singapore will face zero or significantly reduced duties from Indian Government. However, the tariff cuts will take place gradually over a 4-5 year period starting from January 2008”, highlighted Mr. Malhotra.

“AsiaBiz is seeing increasing number of small to mid-size Indian companies deciding to setup their business presence in Singapore. As a result of the closer economic ties between the two countries and relaxation of import duties, Indian entrepreneurs and companies are discovering many profitable business opportunities for themselves. AsiaBiz is usually their first stop. We help them setup their Singapore business entity, apply for relocation visas for the management or their staff members, and take care of their company’s accounting and tax filing matters, Mr. Malhotra said.

In a recent joint survey by the World Bank and the International Finance Corporation, Singapore was rated as the world's best place for incorporating and doing business. According to AsiaBiz, international institutes have consistently ranked Singapore in top positions for its legal and regulatory framework that encourage fair and free competition among enterprises. Earlier this year, the Republic of Singapore implemented attractive tax exemptions for small-to-mid size companies and further reduced the overall corporate tax rate in Singapore to 18 percent. According to various reports and statistics, Singapore consistently ranks as one of the most competitive and profitable places for business investors.

Singapore’s relaxation of its immigration policies is also designed to facilitate the relocation of foreign entrepreneurs and professionals. This is done through programs such as Entrepreneur Visa.

For more information about AsiaBiz Singapore and its Singapore business setup services, visit http://www.asiabizsetup.com.

Source: Press release distribution via India PRwire

Headquartered in Singapore, AsiaBiz Services Pte Ltd is the leading provider of Singapore company incorporation, foreign company registration, Singapore relocation, accounting/tax filing, and related corporate services in Singapore - all under one-roof. We are well recognized for our service excellence and professional approach to each client engagement. We work with international entrepreneurs and companies who are interested in setting up a company and growing business in Singapore.

In addition to Zinfandel and Syrah, Persephone’s 120 acres are planted to Cabernet Sauvignon, Cabernet Franc, Merlot, Petit Verdot, Chardonnay and Sauvignon Blanc. The Persephone Vineyard’s well-drained silt loam, warmer summers and cooler winters produce fruit with unique, layered characteristics – ideal for producing wines that stand on their own or for blending with the flavors and texture from the Rutherford Estate.

“The 2005 growing season was one of the coolest and longest in recent memory,” Peju Winemaker Sara Fowler explained. “The balanced climate of hot afternoons and cool evenings allowed our fruit to mature slowly and evenly for concentrated flavor character.”

The 2005 Zinfandel fruit was harvested in August 2005. Ripe tannins and exceptional hues of rich garnet and dark magenta developed during fermentation before the Zinfandel spent 10 months aging in American Oak. It was bottled unfiltered. The wine gives off aromas of raspberry, cherry and clove and bursts of bright, rich chocolate and blackberry jam on the palate. The bold tannins give this wine a hint of spice on the long, lingering finish.

The 2005 vintage gave the Syrah grapes extraordinary color and spiced flavor with an abundance of layered character. The fruit was harvested in stages of development during September and October 2005 and was aged 16 months in American Oak to impart depth and sweet oak characteristics in the wine. The dark garnet red hues from the Syrah give way to aromas of huckleberry, blackberry cobbler and black pepper while the palate enjoys flavors of raspberry, cocoa and roasted coffee.

Peju’s 2004 Zinfandel vintage received a ‘91’ score from Connoisseurs’ Guide and ‘Gold’ in the 2007 Florida International Wine Competition. Peju’s 2003 Syrah was awarded ‘Silver’ in the 2007 Dallas Morning News Wine Competition and the 2002 vintage received a ‘90’ from Wine Spectator in 2006.

Both the 2005 Zinfandel (3,347 cases produced) and 2005 Syrah (1,934 cases produced) are delicious to drink now and will age beautifully in the bottle for another six to eight years.

Source: Press release distribution via India PRwire

About Peju Province Winery

Peju Province, founded in 1982 by Tony and Herta Peju, is a family-owned boutique winery located in the Rutherford Appellation in the heart of the Napa Valley. Peju’s organically farmed Rutherford Estate Vineyard is home to 30 acres planted to Cabernet Sauvignon, Merlot and Cabernet Franc and is ideally situated between Highway 29 and the west bank of the Napa River. Peju also produces wines from its sustainably farmed Persephone Vineyard (Pope Valley) and planting is underway at the Wappo Vineyard (Dutch Henry Canyon). Visitors are welcomed into a magnificent 50-foot tasting room tower to sample Peju’s award-winning wines, including its flagship HB Reserve, Cabernet Sauvignon, Merlot, Cabernet Franc, Zinfandel, Syrah, Sauvignon Blanc, Chardonnay and Provence, a proprietary blend of red and white varietals. Peju visitors can also enjoy pristine gardens, art exhibits and a full-working kitchen that hosts a variety of events and classes, all part of what earned Peju Wine & Spirits Magazine’s Top Artisan Winery of the Year.

Peju Province, founded in 1982 by Tony and Herta Peju, is a family-owned boutique winery located in the Rutherford Appellation in the heart of the Napa Valley. Peju’s organically farmed Rutherford Estate Vineyard is home to 30 acres planted to Cabernet Sauvignon, Merlot and Cabernet Franc and is ideally situated between Highway 29 and the west bank of the Napa River. Peju also produces wines from its sustainably farmed Persephone Vineyard (Pope Valley) and planting is underway at the Wappo Vineyard (Dutch Henry Canyon). Visitors are welcomed into a magnificent 50-foot tasting room tower to sample Peju’s award-winning wines, including its flagship HB Reserve, Cabernet Sauvignon, Merlot, Cabernet Franc, Zinfandel, Syrah, Sauvignon Blanc, Chardonnay and Provence, a proprietary blend of red and white varietals. Peju visitors can also enjoy pristine gardens, art exhibits and a full-working kitchen that hosts a variety of events and classes, all part of what earned Peju Wine & Spirits Magazine’s Top Artisan Winery of the Year.

Shri R.N. Jayaraj, Outstanding Scientist & Chief Executive of Nuclear Fuel Complex (NFC) has vast experience in fabrication of enriched and natural uranium fuels used in Boiling Water Reactors (BWRs) and Pressurized Heavy Water Reactors (PHWRs) in the country.

Source: Press release distribution via India PRwire

Nuclear Fuel Complex caters to the fuel and Zirconium requirements of the Nuclear Power Program in India.

In a related announcement today, Xilinx appointed Mallik Moturi as managing director of Xilinx India. In his role at the helm of Xilinx India, Moturi will focus on formulating and driving a customer-focused R&D strategy, further strengthening relationships with the growing number of customers in India and Asia Pacific. Moturi will also spearhead the integration of the Xilinx India team with worldwide R&D operations.

Congratulating the Xilinx India team, Iain Morris, Executive Vice President and General Manager of the Xilinx Advanced Products Group said, “Our team in India has accomplished many significant milestones in a short period. Xilinx is committed towards fully developing the India centre into a global R&D hub. Xilinx India will now undertake global projects of strategic importance.”

Moturi added “Xilinx India will now play a crucial role in the entire chain of global R&D activities including IP core development, software development and systems & applications. While earlier activities focused on IP core development, we are now setting up core groups to undertake software and systems & applications development. Xilinx India currently employs about 100 high-end design engineers and the plan is to significantly increase our strength of high end engineers covering all the three competency areas.”

The system and application centre will concentrate on domain specific platforms for Xilinx customers across APAC and rest of the world in areas such as consumer electronics, telecommunications, video and connectivity, in collaboration with the go-to-market system and application teams in APAC. The software centre will focus on EDA tools and algorithm development, verification and benchmarking for FPGAs. The India centre will continue to provide design verification for most IP cores developed by Xilinx globally and offer technical support for Xilinx customers.

Successful Track Record in India

Xilinx has established a strong development track record in India delivering more than sixty locally designed Intellectual Property (IP) cores to date, of which more than half are based on cutting-edge 65nm process technology. IP cores are pre-engineered, functional modules that Xilinx customers use to reduce development time of programmable system designs.

Source: Press release distribution via India PRwire

About Xilinx

Xilinx, Inc. (NASDAQ: XLNX) is the worldwide leader of programmable logic solutions. Additional information about Xilinx is available at www.xilinx.com.

Editorial Contacts:
Jaya Prashni Nabanita Biswas
Xilinx India CMCG India
(91) 40- 23144072 98201 02515
jaya.prashni@xilinx.com nabanita.biswas@cmcgindia.com

The Active RFID based system would facilitate the collection of data over longer distance (15-20m) and with greater accuracy in metallic and water environment. Unlike barcode, data can be captured from assets and other items over longer distance without the need of physically going near to the system. This will enable real-time identification of Laptops and other valued assets with their location with enhanced security. This will also eliminate the painstaking and time consuming process of scanning individual items increasing the staff productivity by ten to fifteen times. For an e.g, sitting anywhere across globe, system administrator would be able to determine the location and movement information of a particular asset in real-time. Vehicles with active RFID tags can be located anywhere in the premises having Active Readers at strategic locations.

“Active RFID gives capability to every object to be networked, to be identified whenever required without the need of line of sight.” said Sunil Kumar, Vice President, Business Development & Sales, Orizin. “RFID is touted as the next generation technology out competing barcode and EAS system in terms of benefits.” added Sunil.

Radio Frequency Identification (RFID) technology is a wireless technology that is being used for tracking and identification. RFID overcomes several limitations as inherited by traditional barcode system like tracking stationery items one at a time, inability to detect hidden items and limited read-range.

The company designs and manufactures all these system at its Mysore office making the system cost-effective backed by better support.

Source: Press release distribution via India PRwire

About Orizin Technologies

Orizin Technologies is one of the leading RFID solutions providers based in India. The company designs and manufactures all RFID devices like readers, antennas, security gates and portable RFID equipment at Mysore and provide integrated RFID solutions like retail management, assets tracking, supply chain management, jewellery tracking, vehicle tracking and other turnkey solutions to customers in Libraries, Retail, Healthcare, Manufacturing and IT.

Orizin was founded in the year 2005 by Prashant Agrawal and Palaniappan C. Both are pass outs of NIT Trichy (formerly known as REC Trichy) with sound industry experience in Embedded system domain.

At present the company addresses various needs of industry verticals by means of the following RFID based solutions:

1. Retail Management
2. Jewellery Tracking
3. Assets Tracking
4. Document Tracking
5. Library Management
6. Work-in-progress tracking
7. Supply chain management
8. Vehicle tracking

The company designs and manufactures the following products:

1. Readers
2. Hand-held devices
3. Antennas
4. Gate Sensors
5. Smart Kiosks

Orizin’s unique proposition is that they design and manufacture all RFID products in-house as per the Indian conditions unlike other companies who import products from abroad. This gives them an advantage over others in terms of better customer service and flexibility to customize hardware as required by the client.

At present Orizin has employee strength of 12.

Media Relations
Preeti Gupta
Pragma Communication
+91 94489 05196, +91 (80) 4153 4520
preeti@pragmacommunication.com

MCX-COMDEX captures diversified sectors encompassing futures contracts drawn on metals, energy and agricultural commodities that are traded on MCX. The index was initially designed and developed by the Research and Development Department of MCX in association with Indian Statistical Institute (ISI), Kolkata, and launched in June 2005.

Before the changes, the COMDEX was composed of wheat, urad, soya oil, rubber, guarseed, kapaskhali in agri; gold, silver, copper in metals; and crude oil in energy. In order to synchronize index with changing economic dynamics and increased trading activities on the exchange, the Index Committee has decided to revamp its composition and weights.

In the process, group weights in the composite index have been modified from equal weights of sub-indices to 40 percent each in the case of MCX Metal Index and MCX Energy Index and 20 percent in the case of MCX Agri Index. Thus each sector has been given due weightage to represent its significance in the physical and futures markets.
The new composition of commodities and their weights in the MCX-COMDEX are:

Commodity

Final Wts.

Group Wts.

MCX-METAL

1

Gold

16.6%

40%

2

Silver

10.4%

3

Copper

7.0%

4

Aluminum

2.0%

5

Nickel

2.0%

6

Zinc

2.0%

MCX-ENERGY

7

Crude Oil

31.8%

40%

8

Natural Gas

8.2%

MCX-AGRI

9

Ref. Soy Oil

3.1%

20%

10

Mentha Oil

4.5%

11

Potato

3.3%

12

Kapaskhalli

2.0%

13

Cardamom

2.0%

14

Chana

3.1%

15

Guarseed

2.0%

The new composition comes on the back of continuous research, intensive analysis and interaction with economists, statisticians and market players to position MCX-COMDEX as an effective barometer of economic trends in the country. It also enables the Comdex to retain its characteristics as an attractive tradeable index in the longer term.

With its component weightages being adjusted to reflect their physical market shares, COMDEX with its underlying futures prices of commodities could function as the augury of future price trends. It could thereby provide enough leeway for country’s economic managers to take appropriate corrective action if not in advance at least on time.

A precise relationship if established between balance sheet parameters and COMDEX would serve to help corporates with extensive exposure to component commodities take advance remedial measures while charting their growth path and add value for investors.

Investors who own stocks of companies having exposure to primary commodities could use the COMDEX as a guide to hedge their risk in the commodity exchange, thereby bringing stability to the financial markets and strengthening linkages.

Source: Press release distribution via India PRwire

Headquartered in the financial capital of India, Mumbai, MCX (www.mcxindia.com) is an independent, demutualised nationwide electronic multi commodity futures exchange set up by Financial Technologies with permanent recognition from Government of India for facilitating online trading, clearing & settlement operations for futures market across the country. The exchange started operations in November 2003 and presently is the top commodity exchange in the country with 70% market share of the total commodity derivatives trading volume in the country. Among the top ten commodity derivatives exchanges in the world, MCX ranks among the top three bullion, energy and copper exchanges in the world in terms of contracts traded. The average daily turnover of MCX is about US$2.2 billion

Apart from being accredited with ISO 9001:2000 for quality management, it is the world’s first and only multi-commodity exchange to have achieved ISO 27001:2005 certification, the global benchmark for information security management systems.

MCX offers futures trading in 58 commodities, defined in terms of the type of contracts offered, from various market segments including bullion, energy, ferrous and non-ferrous metals, oils and oil seeds, cereals, pulses, plantations, spices, plastics and fibres. The exchange strives to be at the forefront of developments in the commodities futures industry and has forged eleven strategic alliances across the world, including with Tokyo Commodity Exchange, Chicago Climate Exchange, London Metal Exchange, New York Mercantile Exchange, New York Board of Trade and Bursa Malaysia Derivatives, Berhad.

As with all MCX commodities contracts, silver contracts too are tailor-made largely for the physical commodity users so that they may plan their hedging strategy better. The popularity of the contracts on the exchange platform can be gauged by the fact that MCX is the world’s largest bourse for silver, in terms of contracts traded.

"The new record in silver underscores the efficacy and transparency of the complete trading, settlement and delivery process deployed at MCX. We are glad that the trading community is finding opportunities on the Exchange to discover better price from a nationwide market offered on the MCX platform,” said Joseph Massey, DMD, MCX.

“Since silver was trading at a six-month low – the price on December 30, 2006 was Rs 21,285 per kg -- a number of investors chose to buy on the MCX because of the assurance of purity of the silver bars. The settlement rate of the July silver contract, expired on July 5, was Rs 17,024 per kg,” said Jigar Pandit, manager-commodities at Sharekhan Commodities. “Investors were also attracted by the excellent cash and carry arbitrage opportunity which assured them of 1.3% returns.”

Source: Press release distribution via India PRwire

About MCX

Headquartered in the financial capital of India, Mumbai, MCX (www.mcxindia.com) is an independent, demutualised nationwide electronic multi commodity futures exchange set up by Financial Technologies with permanent recognition from Government of India for facilitating online trading, clearing & settlement operations for futures market across the country. The exchange started operations in November 2003 and presently is the top commodity exchange in the country with 70% market share of the total commodity derivatives trading volume in the country. Among the top ten commodity derivatives exchanges in the world, MCX ranks among the top three bullion, energy and copper exchanges in the world in terms of contracts traded. The average daily turnover of MCX is about US$2.2 billion

Apart from being accredited with ISO 9001:2000 for quality management, it is the world’s first and only multi-commodity exchange to have achieved ISO 27001:2005 certification, the global benchmark for information security management systems.

MCX offers futures trading in 58 commodities, defined in terms of the type of contracts offered, from various market segments including bullion, energy, ferrous and non-ferrous metals, oils and oil seeds, cereals, pulses, plantations, spices, plastics and fibres. The exchange strives to be at the forefront of developments in the commodities futures industry and has forged eleven strategic alliances across the world, including with Tokyo Commodity Exchange, Chicago Climate Exchange, London Metal Exchange, New York Mercantile Exchange, New York Board of Trade and Bursa Malaysia Derivatives, Berhad.

Financial Technologies India Ltd, a leading provider of transaction automation technologies for Equities, Derivatives, Forex and Commodity markets, is the majority shareholder of MCX. Other key stakeholders include Fidelity International, State Bank of India & its subsidiaries, National Stock Exchange (NSE) and National Bank for Agriculture & Rural Development (NABARD).

As an important step for the production plans of Volkswagen in India, Europe’s largest automobile manufacturer is to build up its relationships especially with Indian suppliers. "Our objective is to establish Volkswagen as a local manufacturer and a long-term business partner in India," said the President of Volkswagen India Private Limited Mr Joerg Mueller. He emphasized that a significant share of the material required will come from local suppliers. The new plant in India will create some 2,500 new jobs.

Thus, the important objective of the conference was to present the automotive division of the Volkswagen brand as well as the recently founded national companies. The Executive Director Procurement of Volkswagen India Private Limited, Mr Pierre Bruedgam, explained: "We will start our sourcing activities soon to find the potential partners for Volkswagen in India with local as well as global perspectives."

The new Volkswagen plant in the Chakan Industrial Park near Pune will commence producing up to 110,000 vehicles a year as of end-2009. With investment totaling some 410 million euros, a full production plant with a press shop, body shop, paint shop and assembly lines is to be built on the 230 hectare site. All planned activities for the production plant are running to schedule. The ground is currently being prepared for build-up.

As an important step for the production plans of Volkswagen in India, Europe’s largest automobile manufacturer is to build up its relationships especially with Indian suppliers. "Our objective is to establish Volkswagen as a local manufacturer and a long-term business partner in India," said the President of Volkswagen India Private Limited Mr Joerg Mueller. He emphasized that a significant share of the material required will come from local suppliers. The new plant in India will create some 2,500 new jobs.

Thus, the important objective of the conference was to present the automotive division of the Volkswagen brand as well as the recently founded national companies. The Executive Director Procurement of Volkswagen India Private Limited, Mr Pierre Bruedgam, explained: "We will start our sourcing activities soon to find the potential partners for Volkswagen in India with local as well as global perspectives."

The new Volkswagen plant in the Chakan Industrial Park near Pune will commence producing up to 110,000 vehicles a year as of end-2009. With investment totaling some 410 million euros, a full production plant with a press shop, body shop, paint shop and assembly lines is to be built on the 230 hectare site. All planned activities for the production plant are running to schedule. The ground is currently being prepared for build-up.

Source: Press release distribution via India PRwire

The project call received funding from a consortium comprised of Ireland, Italy, New Zealand, Norway and the United Kingdom. Norway, the new major donor of REEEP, and the United Kingdom will be pooling funds allowing for larger investments into projects; Ireland and Italy will continue their focus on Africa; and New Zealand will bring small island states in the Pacific into focus.

The REEEP call is an open tender seeking projects from priority countries – China, India and Brazil and from across the developing world. Based on the experience gained over the last two years with a bottom-up approach to selecting projects, REEEP will be piloting a combination of bottom-up (i.e. projects submitted by different organizations) and top-down (i.e. projects which REEEP has identified for implementation in the region to which organizations in the region can apply) commissioned strategic projects.

REEEP is inviting countries with specific legislative or regulatory needs or development finance institutions with need for financing and business models to develop a project directly with REEEP. It is hoped that by assisting governments with lowering risk within the renewables and energy efficiency sector and working with development agencies to encourage business and finance models, finance can be attracted into new markets.

REEEP has also decided to further increase the importance of energy efficiency in its portfolio and throughout emerging markets. The project call will be seeking bidders for the production of a REEEP Report on Energy Efficiency – in order to accurately portray the benefits and role that energy efficiency can play in improving energy security, lowering carbon emissions, and enhancing industrial competitiveness, covering the market, policy, stakeholders and key initiatives.

The call for project proposals will also commission work around reducing the risk of investing into renewables and energy efficiency, synthesizing REEEP experiences from its 50 previous projects and replicating successes achieved in the 18 completed projects.

Dr Marianne Osterkorn, REEEP International Director stated that the partnership can now add value across a number of areas. "We can now fund larger and longer term projects and in addition to our bottom-up approach, the targeted approach will help to strategically accelerate key markets for renewable energy and energy efficiency".

Dr R K Pachauri, Director-General of TERI, said, "We look forward to this initiative for identifying projects that make a real difference in the context of sustainable development in the South Asia, while offering opportunities for offsetting carbon".

Source: Press release distribution via India PRwire

The Energy and Resources Institute (TERI)

A dynamic and flexible organization with a global vision and a local focus, TERI was established in 1974. While in the initial period the focus was mainly on documentation and information dissemination activities, research activities in the fields of energy, environment and sustainable development were initiated towards the end of 1982. The genesis of these activities lay in TERI’s firm belief that efficient utilization of energy, sustainable use of natural resources, large–scale adoption of renewable energy technologies and reduction of all forms of waste would move the process of development towards the goal of sustainability.

All activities in TERI move from formulating local and national level strategies to suggesting global solutions to critical energy and environment-related issues. It is with this purpose that TERI has established regional centres in Bangalore, Goa, and Guwahati, and a presence in Japan, Malaysia, Russia, and the United Arab Emirates. It has also set up affiliate institutes: TERI–NA (The Energy and Resources Institute, North America) Washington DC, USA, and TERI–Europe, London, UK.

In this world of increasing globalization and buoyed by optimism generated by the success of the Indian economy, TERI moves forward to meet the challenges of the future through the pursuit of excellence embedded in its visionary charter. There are nine research divisions within TERI –

• Policy Analysis Division
• Energy–Environment Technology Division
• Environmental and Industrial Biotechnology Division
• Biotechnology and Management of Bioresources Division
• Regulatory Studies and Governance Division
• Action Programmes Division
• Information Technology and Services Division
• Sustainable Development Outreach Division
• Technology Transfer Division

Minda Group will roll out the model across the state of Tamil Nadu initially, before taking it across the country. The FMCG model envisages the division of the state into seven different territories identified on the basis of their vehicle population and sales potential. Each of these territories will be serviced by a representative called the Missionary Service Representative (MSR). These representatives will be locally placed and will be responsible for the sales, marketing and servicing within the territory which would range to about a radius of 100 Km from the base.

There has been an empirical identification of high potential retailers and garages/electricians – about 150 per territory, who are being brought under the fold as Minda Retail Partners (MRP’s) and Minda Service Partners (MSP’s) respectively. The Minda distribution network in Tamil Nadu will thus be over 1000 strong, covering not only major cities in the state, but small towns and some prominent villages and rural markets as well.

The Minda MSR’s will be provided with Motorcycles carrying appropriate Minda Branding – such constant presence and visibility in the market, coupled with a strong distribution network will ensure that consumers throughout the State will have access to genuine spare parts as well as quality service backup. The product and value offering to consumers will get further enhanced over time, as more and more products get added to the Minda range.

Automotive batteries, which are a major thrust area for the Minda Group and are slated for launch during the course of 2007 will get the advantage of the FMCG model that is being put in place. The Group is targeting 50% of its sales of automotive batteries to come from the after market. The FMCG model will help the group to gauge consumer perception and meet expectations.

“Since the MSR’s are going to be in direct touch with the entire chain of distribution from the Distributors to the end consumers, we hope to be better placed to service and meet after market demands than our competition”, says Mr. NK Minda, Managing Director, Minda Industries Limited.

“The launch of the FMCG model is an attempt at a paradigm shift in how the auto components are retailed in India”, says Mr. Arun Nagpal, Business Head, Switch Masters Limited, the marketing arm of Minda Group. Traditionally auto components in the after market are either available through OE (vehicle) dealers, or through the spare parts market, comprising a network of authorized dealers/independent wholesale traders who deal in a limited number of items but in large quantities, retailers who deal in a large number of items in limited quantities, and garages/mechanics/electricians who play a major role as influencers of the consumer’s purchase decision.

Typically, a vehicle owner would go to a neighborhood garage/workshop/mechanic for any repairs that are required. Once it is determined that a spare part is required, the vehicle owner either leaves it to the garage to purchase the part or on his recommendation, goes across to a nearby retail outlet and purchases the same. Retail outlets and garages usually operate in conjunction with each other. In turn, the wholesale dealers and traders usually have a tie-up with retailers who are offered ready stocks, credit and incentives for particular brands from time to time, in order to promote the same.

Large organizations in the auto components field have typically operated on a ‘push’ mechanism so far, with incentives and offers made to dealers to stock their products/brands, and in turn push them through the distribution channels to the end consumer. The focus has been more on primary sales to the dealer network, with little or no emphasis on secondary sale through the distribution network and to the end user.

With the FMCG Model the attempt is to move towards a distribution model that addresses the entire chain, from the dealer down to the garage/mechanic/workshop, and finally to the consumer himself.

Source: Press release distribution via India PRwire

For more information, please contact:
Neena Biswal / Taruneet Rekhi
finesse PR
91 11 27022460 / 27013586
neena@finessepr.com / taruneet@finessepr.com

The workshop deliberated on issues such as special dispensation for IPP hydro projects considering cost uncertainties due to geological risks and energy uncertainty due to changes in water flows, Policies and guidelines in context of development of hydro power and matching evacuation systems, Public-Private-Partnership, Need to look at Hydro power policy in a framework that is not thermal power centric, Power Purchase Agreements and regulated tariffs with SEBs and Discoms, Need and Plan to build Mega-Capacity and Extra High Voltage Transmission Corridor.

Currently India has a total Hydro electric potential of 1,50,000 MW out of which we have been able to develop only 17 per cent and the National Electricity Policy reiterates that maximum emphasis would be laid on the development of the feasible hydro power potential in the country.

Some key recommendations include:

1. Hydropower being a clean and renewable source of energy should be put on fast track in a pragmatic manner as visualized in the NEP.
2. Urgent need to develop the enormous hydro-electric potential of the country in order to mitigate power shortages, provide clean energy, improve the hydro- thermal mix, and facilitate socio- economic development ofhydro rich NE States.
3. It is of immense national interest to develop on fast track the infrastructure in Arunachal Pradesh including the hydropower sector considering the unique strategic location of the State.
4. While North-East had the largest hydropower potential, it has the least installed capacity. A clear road map needs to be drawn, particularly for the Independent Power Producers (IPPs) and Public Private Partnership (PPP) hydro projects so that their financial closure is achieved at the earliest possible. The progress should be reviewed at the Ministry of Power and monitored at the PMO level. Empowered Committees should be set up by the State and Central Governments to ensure expeditious clearance of hydropower projects.
5. There are genuine difficulties for hydro developers to participate in tariff based competitive procurement inquiry due to: a) Cost uncertainty emanating from high geological risks in the Himalayan region; b) Energy uncertainty due to variations in water flows;
6. It is logical for States with hydropower potential to obtain a fair compensation and opportunity price for their hydropower project sites from the prospective developers. This shall include atleast 12% free power, certain amount of equity participation and cess for socio-economic development as determined by the State. CPSUs should deposit advance fund equivalent to the monetary value of 2 percent power out of the 12 percent free power of the host State on an annual basis until the first year of the commercial operation of the project. Any stipulation by State Government requiring the developers to part with free power over and above the 12 percent may also be justified but the producers are likely to transfer the burden of the same to the buyers. Similarly any lump sum upfront one-time compensation from the IPPs/CPSUs is likely to result in higher eventual tariff.
7. A consensus may be developed on a transparent methodology for allotting the hydro sites to IPPs and PPPs. The guidelines should provide the required flexibility to meet the special conditions of individual States.
8. Need to review the existing tariff policy applicable to the IPPs and PPPs for hydropower projects. In view of the various challenges involved in the development of the hydropower projects, the possibility to allow distribution utilities to enter into long term PPAs with IPPs and PPPs through the negotiated route needs to be considered so that tariff determination can be done on a cost-plus performance basis under the provisions of Section 62 of the Electricity Act, 2003.
9. CEA and Ministry of Environment & Forests (MoEF) may examine and accord clearance to hydro project proposals on a priority basis. Where MOUs have been signed, the IPPs and PPPs companies must complete the preparation of the Detail Project Reports (DPRs) and refer them to the concerned authorities for necessary clearance.
10. The State Government should have the power to allocate projects up to 250 MW in consonance with the mega definition of hydropower project.
11. The host State should be allowed to sell its share of power of a project at a market/negotiated price without any restrictions.
12. The Central Government should provide substantial assistance for developing transport and communication infrastructure in the State to a level that enables easy and speedier development of the hydropower sites.
13. The Policy on Resettlement and Rehabilitation (R&R) should be clearly outlined by the State. Cost of R&R will have to be suitably inbuilt into the project cost. The Governments could also outline the nature of assistance that can be provided by them.
14. The hydropower project should be planned to provide for meeting the maximum peaking power capability.
15. The Central Government should provide viability gap funding to keep transmission cost of remote hydropower project reasonable so that the landed cost of electricity is affordable.
16. Advance action should be taken to plan evacuation of 55,000 MW through the chicken-neck area, keeping national security and energy security in view. Financial assistance may be considered for POWERGRID for this purpose.
17. A national transmission tariff should be developed as visualized in the National Electricity Policy and Tariff Policy so that the cost of power evacuation from remotely located hydropower projects is socialized. The National Transmission Tariff should be structured in such a manner that it is economically viable for generating stations in Arunachal Pradesh to supply power to the Distribution companies locatedin other parts of the country.
18. The Planning Commission should allocate a special grant of about Rs. 8400 crores to facilitate equity participation by the State Government of Arunachal Pradesh in the joint venture projects with the IPPs and CPSUs.

Source: Press release distribution via India PRwire

"I reiterate India's deep desire and strong commitment to continue developing a multi-faceted, mutually beneficial trading and economic relationship with China", Shri Kamal Nath said. Mr. Xilai in turn during his bilateral with Shri Kamal Nath recalled the traditional ties between India and China dating back many centuries when the two countries together accounted for more than 20% of the world's total trade and called for "recapturing the old glory".

During the year 2000-01, the bilateral trade volume was barely US $ 2 billion. This increased to US $ 11.3 billion in 2004-05. "This year our bilateral trade will be in excess of US $ 15 billion", Shri Kamal Nath said, reflecting rapidly expanding bilateral economic relationship. At the same time, he stressed the point both at the JEG Meeting as well as the Joint Business Forum that the trade basket continued to be narrow and restricted to a limited range of goods. "For instance, Indian exports are dominated by raw materials and products of natural resource based industries. If our trade is to expand exponentially it is imperative for both partners to diversify the trade basket. Between us we produce practically everything - and produce it cheaply, and with good quality. We both have export growth rates that are 25 to 30%. While our engagement with the rest of the world is galloping, we must make doubly sure that it gallops with each other", he said.

The JEG discussions focussed on implementation of the recommendations of the Report of the Joint Study Group (JSG) which was constituted in June 2003 by Prime Minister Dr. Manmohan Singh and Premier Wen Jiabao to examine the potential complementarities between the two countries. The agenda included review of bilateral trade since 2000 and issues of bilateral trade and economic cooperation relating to market access for agricultural, industrial goods and services; non-tariff barriers; restrictive regulatory regimes etc. besides discussing the deliberations of the Joint Task Force on India-China Regional Trading Arrangement and talks on a Bilateral Investment Protection Agreement.

Shri Kamal Nath also underlined the need to decide on an early operationalisation of the border trade across the Nathu La pass.

India-China Bilateral Trade: Backgrounder

During the visit of Premier of the State Council of the People's Republic of China to Republic of India in April 2005, the two countries agreed to make joint efforts to increase the bilateral trade volume to US $ 20 billion or higher by 2008.

Since 1997-98, Indo-China trade has registered a growth of 260% i.e., average yearly growth of around 33%.

The volume of trade with China during the last 5 years i.e., from 2000-01 to 2004-05 has increased by 224%, registering an annual average growth of around 44%.

Since 2000-01, the highest trade growth of about 62% was registered in 2004-05.

During 2004-05, India's balance of trade deficit with China has almost doubled as compared to 2003-04 and amounted to US $ 2.2 billion.

India-China border trade opened in Uttaranchal on July 15, 1993; second border trade point opened in Himachal Pradesh in 1994 and memorandum for third border trade in Sikkim in Beijing in June 2003. During 2004, the border trade amounted to Rs.1846 lakhs.

Source: Press release distribution via India PRwire

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