Showing posts with label Business News. Show all posts
Showing posts with label Business News. Show all posts
| Washington,
June 12: As a major immigration bill that would give over 11 million
people, including some 260,000 Indians, living illegally in America a
path to citizenship, it received a full endorsement from President
Barack Obama. "If you're serious about actually fixing the system, then this is the vehicle to do it," he said Tuesday at the White House, flanked by immigration reform supporters, hours before a strong Senate majority voted to open debate on it. "If you're not serious about it, if you think that a broken system is the best America can do, then I guess it might make sense to try to block it," he said referring to the bill drafted by a bipartisan "gang of eight", four Democrats and four Republicans. "But if you're actually serious and sincere about fixing a broken immigration system, this is the vehicle to do it," he said flanked among others by young undocumented students and the US Chamber of Commerce president and CEO, Tom Donohue. "This bill isn't perfect, it's a compromise," Obama said. "And going forward, nobody is going to get everything they want. Not Democrats, not Republicans, not me. But this is a bill that's largely consistent with the principles that I and the people on this stage have laid out for common-sense reform." The 82-15 vote, with most Republicans joining the chamber's Democratic majority in support, to begin the debate indicated that the bill would pass the Senate despite fierce opposition from conservatives. However, Republican Ted Cruz, a key opponent of the bill said Tuesday the Republican-controlled House would defeat it in its current form due to the pathway to citizenship. Addressing concerns of the measure's opponents, Obama emphasised it would increase spending on border security and require undocumented immigrants to pursue what could be a 13-year path to eventual citizenship. "You have to pass background checks, you have to learn English, you have to pay taxes and a penalty and then you have to go to the back of the line behind everybody who has done things the right way and have tried to come here legally," Obama said. Some congressional conservatives call opposing the "gang of eight" plan a matter of principle and say they won't bend. Many consider any measure offering a path to citizenship tantamount to amnesty for those who entered the country illegally. A bipartisan group has been working on a separate immigration plan in the House, but the effort suffered a setback last week when a key member dropped out of the negotiations. |
||
New
York, March 16: Dr. Kallam Anji Reddy was born in Tadepalli in Guntur
district, AP. His father was a farmer. He studied in ZPHS School,
Nutakki until 10th grade, graduated from AC College, Guntur in 1958,
B.Sc (Tech) from Bombay University, Ph.D. in chemical engineering from
the National Chemical Laboratory, Pune in 1969.
Dr. Reddy
started his career in Indian Drugs and Pharmaceuticals Limited (IDPL)
(1969–1975), then he left the job to found Uniloids Ltd in 1976, founded
Standard Organics Limited (SOL) in 1980, before founding Dr Reddy's
Labs in 1984 with an initial capital of Rs 25 lakh and he is worth $1.4
Billion US Dollars. Under his leadership, DRL has been a pioneer and
trendsetter in the Indian Pharmaceutical industry.
Here are some of the highlights of his life:
Contribution to Hyderabad Growth:
In
1970s, Pharma industry was not that big in Hyderabad and there were
only handful of companies. Those companies used to produce the medicines
for people of AP and all those were basic medications. Dr. Anji Reddy
was the pioneer for Pharma Industry, who brought the Pharma Industry to
India and put the Hyderabad in world map much before the IT industry. At
some point of time, 80% of World Ibuprofen drug consumption was being
produced in Hyderabad. All the credit for this goes to Dr. Anji Reddy.
Dr. Reddy has given employment to thousands of families in Hyderabad
directly and lakhs of families benefited indirectly and touched millions
of people around the world through his medicines.
To
give you an example, when USA worried about Swine Flu, USA looked at
Andhra Pradesh to get the medication for entire USA. Within a short
period of time, AP has sent the shipments to USA. That is the power of
AP Pharma industry now. Hetero Drugs has supplied that medication. Even
when IT industry has ups and downs, Hyderabad did not face the down turn
because Pharma industry is stable. I do not have the numbers but 20% of
Hyderabad growth can be credited to Pharma Industry.
Inspirational to several:
Dr.
Anji Reddy has been inspirational to several industrialists in Andhra
Pradesh. Some of the Industrialist were fortunate to work directly with
him and some industrialists were indirectly inspired by him and started
Pharma industries with confidence. There are hundreds of Ancillary units
to Pharma industry. Whole Pharma Industry should be thankful to him.
Hundreds of industrialists in Hyderabad either worked in Dr. Reddy Labs
or supplied products to DRL. Hetero Drugs Parthasarathi Reddy, Aurabindo
Ram Prasad Reddy, Divi Labs Murali, Virco Narayana Reddy and Venkata
Reddy have worked for him and started the companies on their own. It is
very hard to find a pharmacy company owner who did not work for Dr.
Reddy.
Gave financial support to several:
Dr.
Anji Reddy has given employment to hundreds of families in 1980s, later
become thousands and lakhs in 1990s. Thousands of families directly
benefited by this and because of the employment, these families were
able to afford higher studies for their kids and relatives. This was
indirect help to thousands of families and he was The God to several
families. I personally know a lot of families, who did not have basic
education to get the job, but they got the jobs in 1980s and 1990s and
now their families are rich and living in high standards. They are very
fortunate to have an Industrialist like Dr. Anji Reddy.
Cost of the Drugs:
Most
of the drugs are invented in Developed countries like USA, Germany and
they charge very high prices. If you convert the same dollars and try to
sell for the same price, not even one percent of the people in India
can afford it. This is where Dr. Reddy made a difference, Hyderabad
became a Pharma hub and most of the medicines are being produced in AP.
Even though Dr. Reddy has been selling for higher prices to US
companies, Reddy Labs has been selling for nominal cost in India. This
is not only in India but also other developing countries in Africa and
Asia got benefited by this. Because of this philosophy, medicine costs
were down and even poor people can afford medication. This is how Dr.
Reddy touched millions of people around the world.
Charitable Contributions:
After
few years and seeing ups and downs of life, Dr. Reddy started Nandi
Foundation. To give you an example, Dr. Reddy bought Mercedes Benz S500
at his earlier years and only two other people (Dheerubai Ambani and RP
Goenka) had that car in India at that time. He bought Honda Accord in
his later days and his son Mr. Satish Reddy asked why do not you buy
latest car and he said instead of spending one crore on the good car, I
will buy Honda Accord and the balance amount could be donated to Nandi
Foundation so that poor people can be benefited. Through Nandi
foundation, he has helped various water purification plants and other
poor people. He has helped LV Prasad eye institute also.
Awards:
Dr.
Anji Reddy has received so many awards. Here are some of awards: “Padma
Bhushan” one of the highest civilian Award by Indian Government in
2011, Padma Shri in 2001, Sir PC Ray award (1984 and 1992), Businessman
of the Year in 2001; CHEMTECH Foundation 'Hall of Fame' award in 2005.
My personal experience:
As
a family friend, I had the privilege to meet him few times and closely
observe him since 1980s. I know hundreds of families who worked for him
and got benefited. We had a good conversation about the American
Universities and he shared his USA experiences with me. He has visited
USA several times and his son Sathish Reddy studied in USA. He has
inspired me and encouraged me to come to USA for higher studies. I am
always thankful to him from bottom of my heart.
I am sure
his son Satish Reddy has big shoes to fill in and he has been helping
DRL. I wish him good luck and hoping that he will carry the legacy of
his father Dr. Anji Reddy. We all miss Dr. Reddy and Andhra Pradesh
would not see a Visionary Industrialist like him. May his soul rest in
peace in heaven.
Mumbai,
June 21: The Indian rupee slumped to a record low of 56.57 against a
dollar Thursday due to increased demand for the American currency by oil
importers and capital outflows from the equity markets.
The partially convertible rupee was trading weak for the fourth consecutive session.
The
rupee opened weak at 56.40 against a dollar and hit a record low of
56.57 at around 1.23 p.m. at the Interbank Foreign Exchange market,
breaching its previous record low of 56.52 set on May 31.
This
is the fourth consecutive day of drop in the value of the rupee. The
value of the Indian currency has declined sharply since Fitch cut its
outlook on India's sovereign ratings to "negative" from "stable".
Fitch
has become the second credit ratings agency after Standard and Poor's
to cut its outlook threatening India's investment grade ratings.
Both these agencies assign India the lowest investment grade.
In
its mid-quarterly review of the monetary policy announced June 18, the
Reserve Bank of India also disappointed the markets by keeping interest
rates unchanged.
RBI Governor D. Subbarao said early this
week that the central bank would intervene in the currency markets only
to contain volatility of rupee.
Washington,
May 14: Yahoo chief executive officer (CEO) Scott Thompson has resigned
and the company has named Ross Levinsohn as interim CEO, Yahoo said
Sunday.
The
company said its board of directors also appointed Fred Amoroso as
chairman. Both appointments were effective immediately, Xinhua reported.
"Mr. Levinsohn replaces Scott Thompson, former chief executive officer, who has left the company," Yahoo said in a statement.
Thompson, former president of eBay's subsidiary PayPal, was appointed as CEO in January 2012.
According
to Xinhua, Thompson was under fire after Yahoo shareholder Dan Loeb
alleged that the CEO does not have a computer science degree from
Stonehill College as claimed for the CEO position, as well as in
regulatory filings to the US Securities and Exchange Commission.g
Washington,
June 5: Google, the world's biggest search engine, is buying Silicon
Valley startup Meebo that helps online publishers make their websites
more social.
The acquisition announced Monday will bring more tools to Google Plus, an alternative to Facebook 's popular online hangout.
Founded
in 2005, Meebo began as a browser-based instant messaging client,
growing to include the Meebo Bar, which allowed users to chat on various
websites like TV Guide, TMZ, and Entertainment Weekly.
"Together
with Google, we're super jazzed to roll up our sleeves and get cracking
on even bigger and better ways to help users and website owners alike,"
Meebo wrote Monday on its official blog.
A
Google spokesman said in a statement that the company is always looking
for better ways to help users share content and connect across the web,
as in daily life.
"With
the Meebo team's expertise in social publisher tools, we believe they
will be a great fit with the Google+ team," the company said.
"We look forward to closing the transaction and working with the Meebo team to create more ways for users to engage online."
Terms
of the acquisition were not disclosed. But tech blog All Things D first
reported rumours about a Google-Meebo acquisition in May with an
alleged asking price of about $100 million.
Hyderabad, June 2 The Greater Hyderabad Municipal Corporation will organise a Mega Job Mela on June 5 for the unemployed youth in the Old City.
Addressing a press conference on Saturday, GHMC Mayor Mohammad Majid Hussain said that several leading companies from different sectors would participate in the Mega Job Mela which will be held at Owaisi School of Excellence in Jamaal Colony of Riyasat Nagar.
The participating companies include Delano Software Solutions, Global Innov Source, Apollo Hospital, Dominos Pizza, Bharati - Walmart, Vijay Electricals and Life Style.
The candidates have been asked to attend the Job Mela along with the photo copies of all the related educational qualification certificates and at least five copies of the bio-data.
Special GHMC buses are being made available for the candidates from Chandrayangutta Bus Depot to the Job Mela venue.
Majid Hussain said that the companies would offer about 3,000 jobs to the unemployed youth. The aspirants will be divided into four groups based on their educational qualification.
He said all the interested candidates who fail to get a job in the Mega Job Mela would be given free training by the Urban Community Development department of the GHMC.
Further, the UCD department would monitor the recruitments to ensure that the youth were not removed from services by the companies in near future, he said.
The Mayor said that similar Mega Job Melas would be organised in all five zones of the GHMC limits.
Hyderabad, May 21 (INN): The Life Insurance Corporation of India (LIC) on Monday launched a new plan 'Jeevan Vaibhav' on the traditional platform.
Addressing a press conference, LIC Zonal Manager AK Sahoo said that the 'Jeevan Vaibhav' would a single premium non linked insurance plan where the risk cover is the Sum Assured which is almost double the premium chosen by the customer and offers guaranteed returns at Maturity.
The plan, which is an ideal combination of Insurance and Returns, would be available for a limited period only up to a maximum of 120 days.
Sahoo said that the major highlight of the new plan was that it offers multiple benefits to the customer that includes security, growth, convenience, freedom and liquidity.
In the event of the unfortunate death of the Life assured during the currency of the policy, the Basic Sum Assured shall be payable which is almost double the Single Premium, depending on the age, excluding extra premium, if any. He also explained the various other benefits of the plan.
The minimum age at entry for the plan is eight years while the maximum is 65 years, Sahoo said adding that the term under the policy has been fixed at 10 years.
The minimum Sum Assured is Rs 2 lakh while there is no upper limit. The minimum premium under the policy is Rs 95,210 with no upper limit, he said.
The Zonal Managar said that 'Jeevan Vaibhav' was an ideal plan for all groups of people and it offers high liquidity through policy loan after just one year.
He said that LIC hopes to get a premium of Rs 1,000 crore from AP and Karnataka circles under the new plan.
Older Posts
Home
i am everywhere except homepage
