Fresh News

The Kerala government is likely to wash its hands off the land deal for $1- billion Kalamasserry Cybercity project by Mumbai-based HDIL.

 

Former Kerala minister and Revolutionary Socialist Party (RSP) leader Baby John passed away here Tuesday morning after towering over the state's politics for over five decades. He was 87.

 

Reserve Bank of India (RBI) Governor Y V Reddy said on Tuesday that the country should aim for a growth of at least 8.5 per cent in its gross domestic product in 2009.He kept all rates unchanged.

 

Kerala is heading for a peak time deficit of around 1500 Mw, resulting in an acute power shortage.

 

After emerging as the first e-literate district in the country a couple of years ago, Malappuram district in north Kerala is trying to become first district in India to have total primary education distinction.

 

Yusuf Ali ranks among top NRI business personalities around the world. Emke Group has been honoured with Padamshree award by government of India.

 

Sri Lanka invites Cochin airport builders for new airport.

 

Expected high production in Brazil and other producing nations has a telling impact on Arabica coffee prices in the global market and the prices are bound to fall in 2008.

 

Will Finance Minister declare a one-year “mini-amnesty” scheme for income and corporation tax defaulters? May be, he might, in the coming budget.

 

Rubber Board in collaboration with the State Bank of India, will organise a seminar on Janaury23 for the rubber growers at Kothamangalam where various issues begin faced by the farmers will be discussed.

 

India and Sri Lanka are likely to benefit from the political instability exists in Kenya (world’s largest tea exporting country), because the industrialists are now looking towards these two nations for tea.

Kerala community shuns gold to protest price rise

Soaring gold price has prompted a community in Kerala to shun the glittering metal, though it is a season of marriages now in the state.

 

'We have decided not to buy gold till March 31 in view of the sharp rise in the price,' a leader of the Ezhuttachan community, spread over Palakkad and Thrissur districts, said.

 

The Ezhuttachan community with a population of around 350,000 belongs to the Other Backward Classes (OBCs) category. A majority of them is engaged in agriculture.

 

'Now, it is a season of marriages here. Since people give gold in dowry, it is a huge burden on them,' Janardanan R., secretary of Edakkampadam-Vithanassery branch of Ezhuttachan Samajam (Society), told IANS.

 

The decision to 'boycott' gold was taken by all the 81 members of the Edakkampadam-Vithanassery branch of the Samajam at a Jan 7 meeting at Vithanassery village in Nenmara, about 30 km from here.

 

'The rise in the gold price has not yet become an issue of debate in our society, though it has many social implications. We want to initiate a debate on the issue,' Janardanan said.

 

The Samajam's move is eliciting some response from the public as local panchayat (council) authorities have contacted it to know about its plans.

 

'People have started enquiring about our move. People from media have also started contacting us,' Janardanan said.

 

'We know very well that this move would not have any great consequence. But our aim is to make people take note of the issue. If our action helps people ponder over the consequences of the rise in gold price and respond to it someway, we are successful,' he said.

Fresh News

DOHA resident Dr George Abraham Kollamana has been chosen for Hind Ratan Award, instituted by the New Delhi-based NRI welfare Society of India.

 

A teenage American Indian Anjali Bhatia has topped among six winners, announced by the US Centre for Citizen Diplomacy for their exemplary work for Citizen award.

 

Kerala continues to be top achiever in the composite primary and upper primary education, followed by Puducherry, Delhi and Tamil Nadu.

 

Kerala and Uttar Pradesh ranked the highest in the first-ever Entrepreneurial Confidence Index, conducted by KPMG.

 

Animal Husbandry department on Tuesday ruled out bird flu in Kerala after tests of 57 dead chicken.

 

Kerala has decided to implement community policing in three city corporations and 11 municipalities areas, Home Minister Kodiyeri Balakrishnan disclosed here Tuesday.

 

With bird flu spreading in West Bengal, Kerala has posted a special team of veterinarians at all the 18 entry check posts.

 

After days of market turmoil amid fears of global recession, it was a day of gold in India on Wednesday. Prices of the yellow metals surged by Rs 340 to tourch a record Rs 11,510 per ten gram.

 

Bird flu is spreading its wings in West Bengal with six districts reporting incidents of avian influenza this week.

Do not Take Calls while Mobile is getting Recharged

I am guilty of doing this..

Do not charge your mobile phone the whole night and DON'T keep it near you while charging. IMPORTANT! PLEASE READ IMMEDIATELY!

I HOPE YOU'RE NOT DOING THIS!!! Never, ever answer a cell phone while it is being RECHARGED!! A few days ago, a person was recharging his cell phone at home. Just at that time, a call came in and he answered it with the instrument still connected to the outlet. After a few seconds,
electricity flowed into the cell phone unrestrained and the young man was thrown to the ground with a heavy thud. His parents rushed to the
room only to find him unconscious, with a weak heartbeat and burnt fingers.

He was rushed to the nearby hospital, but was pronounced dead on arrival. Cell phones are a very useful modern invention. However, we must be aware that it can also be an instrument of death. Never use the cell phone while it is hooked to the electrical outlet!

SBI Chairman is CNN-IBN Businessman of the Year

SBI Chairman O P Bhatt aims to up the bank's market share by one per cent every year.

 

The search for CNN-IBN Indian of the Year 2007 – Business has finally come to an end.

 

SBI Chairman O P Bhatt, the man who beat fast growing private players to breathe new life into a public sector giant, surged ahead of Vijay Mallya and the Ambanis to be the CNN-IBN Indian of the Year 2007 in the Business category.

 

It was a year that saw big-ticket acquisitions, global partnerships, and a fast growing billionaire club. Corporate achievers like the bold and ambitious Ambanis, takeover tycoons Vijay Mallya and Kumaramanglam Birla, and self made telecom czar Sunil Mittal made the contest for CNN-IBN's businessman of the year a close one.

 

After much deliberation, the jury voted for neither an entrepreneur nor a billionaire, but maverick banker O P Bhatt. At the helm of the State Bank of India since 2006, CNN-IBN's businessman of the Year has been credited with doing the impossible.

 

Bhatt took over at a time when India's largest bank was faced with tough competition from fast growing private players. The mammoth challenge was to arrest SBI's falling market share, raise funds for expansion and look for new avenues of growth. And as the chairman of a PSU, 55-year-old Bhatt has often worked with one hand tied behind his back.

 

And the result of his efforts is there for everyone to see. Cutting through red tape, Bhatt has managed to convince the Central Government, the largest shareholder in the SBI, to agree to a rights issue which will raise more than 16000 crore rupees.

 

In another daring move, Bhatt kick started the merging of all seven associate banks with the parent bank, despite stiff opposition from unions. Once the merger is complete, the combined entity will have a balance sheet of over 8 lakh crore rupees, and a countrywide network of 14,000 branches — enough to take on global banks looking to penetrate the Indian market after 2009.

 

Bhatt is the only SBI chairman since liberalisation who has been given a five year term, and he's setting himself some tough targets. One of the targets is to up SBI's market share by one per cent every year. Under him the bank is also looking at new business streams like general insurance, pension funds & mobile banking.

 

It's a vision to make SBI a truly global bank and the man behind that dream is CNN-IBN's Indian of the Year in the Business category for 2007.

Jet Airways announces promotional fares

Jet airways will start non-stop daily flight from Doha to Mumbai and Calicut,the proposed starting date is January 23.
The promotional fares offered is as follows

Mumbai
Economy Class QR830 one-way and
Economy Class QR1,560 on a round-trip ticket to Mumbai
Jet's Club Premiere (Business Class) - QR2,300 one-way
Jet's Club Premiere (Business Class) - QR4,300 return

Calicut
Economy Class QR960 one-way
Economy Class QR1,690 round-trip.
Jet's Club Premiere (Business Class) - QR1,800 one-way
Jet's Club Premiere (Business Class) - QR3,600 return

Those availing the offer will have to travel by February 22.

Timing

The Doha to Mumbai will depart here at 11.15 pm and arrive in Mumbai at 5.15 am.
The Mumbai-Doha flight will leave at 7.20 am and arrive here at 8.25 am.
The Doha-Caliut Calicut flights will leave at 10am and arrive there at 4.55pm,
The Calicut -Doha will leave the Indian city at 8pm and land here at 10pm.

Flight
The flights will be operated using Boeing 737-800 aircraft in a 24-seat Business Class and 124 Economy Class configuration.
If the load factor is extremely high, there is even a possibility of Jet introducing its Boeing 777-300ER aircraft on the routes.

HDIL to develop Rs 4000 crore cybercity (IT City) in Kochi

Kerala's first integrated IT township, a Rs 4000 crore Cybercity project is coming up near Kalamassery,Cochin.

This is being developed by the Housing Development and Infrastructure Ltd (HDIL),a major real estate developer in India. The cybercity, spread over a 70 acre land acquired from the public-sector Hindustan Machine Tools (HMT), would be having besides IT/ITeS, residential apartments, villas, schools, shopping malls, multiplex, club house, service apartments and a star hotel, Rakesh Kumar Wadhawan, Chairman, HDIL, said.

The project's foundation stone will be laid by Chief Minister V S Achuthanandan on January 19.

The cybercity would provide 60,000 direct and 1,50,000 indirect job opportunities at Kochi and is expected to be completed over a four-year period. Lower cost for IT space, huge pool of talent and qualified manpower had made the company prefer Kochi to Bangalore and Hyderabad

The HDIL cybercity will have a built up area of 80 lakh square feet and is the company's first flagship IT project in Kerala. The cybercity will be developed into various zones of residential, IT, Commercial, Hotel, Social and Infrastructure amenities, he said.

Kannur airport gets Central Government approval

The Union Government on Thursday approved the proposal of Kerala's 4th airport at Kannur through public-private partnership.

The proposed airport would also act as a cargo hub for perishables like flowers, vegetables, fruits and sea food. As per details of the project, the airport would be built over 2,000 acres of land and have a single runway. Sanction has already been accorded for land acquisition.

The project would be implemented at an estimated cost of about Rs 930 crore, excluding costs relating to land acquisition, resettlement and rehabilitation that would be borne by Kerala. A joint venture company would be set up between a private strategic partner with a 74 per cent equity and state government entity KINFRA, which would have 26 per cent. The state government would select the strategic partner through a competitive bidding process with guidance from the Centre .

Ancient City Discovered in Kerala

An ancient city excavated on Kerala's Malabar coast had trade links with many key centres around the world as far back as 500 BC, fresh archaeological evidence says.

The Institute of Physics in Bhubaneswar has also concluded that the site, which archaeologists named Pattnam, was actually the ancient city of Muziris. It is located seven kilometres from Kodungallur in Ernakulam district.

According to P.J. Cherian, director of the Kerala Council of Historic Research (KCHR), the city had maritime links with cities along the Mediterranean Sea, Red Sea, Arabian Sea and South China Sea.

'The antiquity of Pattanam extends back as far as the first millennium BC as determined by the Institute of Physics,' said Cherian. KCHR and the Archaeological Survey of India (ASI) are conducting the ambitious research as part of the Muziris Heritage Project.

Cherian, the project director, said experts have analysed charcoal samples and parts of the wooden canoe and bollards recovered from a waterlogged context and excavated from the site.

'The mean calendar dates of these five samples place the antiquity of ancient maritime activity of Pattanam at about 500 BC, with an uncertainty of less than a century,' Cherian told IANS from Thiruvananthapuram.

He said the samples have undergone Accelerator Mass Spectrometry (AMS) - the analytical technique of choice for the detection of 'long-lived' radio nuclides which cannot be practically analysed with decay, counting or conventional mass spectrometry, apart from radiocarbon analysis.

'It is the first time such analysis has been done for an archaeological site in Kerala,' Cherian said.

The organic samples from the site are also being analysed at the Hyderabad-based National Geophysical Research Institute (NGRI). The results are awaited.

Pattanam is the first habitation site of the Iron Age unearthed in Kerala. Excavations there - the last of which were carried out in February last year - have produced evidence of the area's strong trade ties with ancient Rome, Yemen, the Middle East and even the Nabatian civilisation of the Arabian peninsula.

Archaeologists K.P. Shajan and V. Selvakumar along with Cherian have been involved in the excavations. The Indian Navy's Southern Command is supporting the team in underwater excavations.

The state government is moving to declare the area 'protected' in order to prevent further damage to the samples, some of which may have been damaged already. 'The government has begun the procedure to acquire the land,' Cherian said.

The excavations had produced fragments of imported Roman amphora, mainly used for transporting wine and olive oil, Yemenese and West Asian pottery, besides Indian roulette ware that was common in the east coast of India and in Egypt.

Money Mule Scam

What is a money mule?

A money mule is a person who transfers money or reships high value goods that have been fraudulently obtained in one country, usually via the internet, to another country, usually where the perpetrator of the fraud lives.

Money mule, Why?

Fraudsters belonging to country “A” obtain the credit card numbers, bank account numbers, passwords and other financial details of a victim living in another country “B” via internet through techniques such as malware and phishing but find it difficult to make money using these details in their own country “A”. Many businesses will refuse to transfer money or ship goods to certain countries (in this case “A”) where there is a high likelihood that the transaction is fraudulent. The fraudster therefore recruits a money mule in the victim's country “B” that will receive money transfers from victim’s account and merchandise (online purchases) and resend them to the criminal in return for a commission.

How it works?

Fraudsters located in another country (in this example say Nigeria) obtain online banking id and password of one or several victims of same country (say India) using fraud techniques like phishing, malware etc.

Fraudsters ‘recruit’ money mules in India. For this they use email offers, advertisements etc. Job designation will be offered as ‘Finance Manager”, “Agent” etc. These money mules will be innocent persons who will be attracted by good commission merely for transferring funds.

After a successful 'recruitment', the details of money mule's bank
account are obtained and funds are transferred by fraudsters from victims’ accounts to mule's bank account.

The mules are then asked by the fraudsters to transfer these funds
to some overseas bank account and mules are compensated with some 'commission' for this service. Subsequently, the overseas fraudsters close their account and disappear.

Obliviously fraudsters use Money Mule when they find it difficult to transfer such money themselves.

Now the fraudster will be untraceable (in India) and money mule will be answerable for the fraud.

Top News

. Overseas Citizen of India cards were issued to over 200,000 applicants thus far.

. Prime Minister Manmohan Singh affirmed that the security and welfare of NRIs is a top priority of the country's diplomatic missions.

. Government to announce the introduction of an India Development Fund. The fund will channel contributions from NRIs towards philanthropic activities.

. India will launch a 24/7 toll free helpline (1800 11 3090) where NRI Overseas workers can voice their concerns on exploitation or neglect from anywhere in the world.

. Tata Motors launch its Rs 1 lac (US$ 2,500) Car named Tata Nano. It meets all the safety and environment norms and can carry 5 persons.

. A tsunami museum, the first of its kind in India, has been opened at Alappad village in Kerala's Kollam district.

. Air India Express will soon start daily services between Doha and Kerala.

. An ancient city excavated on Kerala's Malabar Coast had trade links with many key centres around the world as far back as 500 BC.

. Kerala's rubber growers may encounter some problems in the coming months with the country's import of natural rubber going up.

. The UAE will keep the dirham's 30-year link to the dollar after completing a review of its currency regime, said it's central bank Governor.

. Job-seekers who wish to come to the UAE to look for employment opportunities can opt for a 'Mission Visa', instead of a visit visa. UAE Ministry of Labour will grant short term work permits of a total period of six months starting from January 2

. The surge in gold prices is impacting the sales of Kerala jewellers even as the wedding season is around for the state.

. The way has been cleared for the Sabarimala railway link to the base of the hilltop Sabarimala shrine in Kerala.

Fresh News

Inaugurating the two-day meet, Chief Minister VS Achuthanandan said that his government had decided to float a new company to attract NRI investment.

Tamil Nadu has given an assurance to supply 10000 tonnes of red rice to Kerala in the current month and agreed to consider increasing it from next.

Central Government will float Expression of Interest for closed tea gardens in West Bengal and Kerala.

Central Government will soon setup a Central University in North Kerala.

Radio listeners in the Kerala capital will be treated with chartbuster Malayalam music and wacky RJ talk by soon to be launched Radio Mirchi (FM).

“Kochi is fast becoming the preferred destination for high-paid executives and NRIs,” said K Arun Kumar, managing director, Mir Realtors.

Kerala based V-Guard Industries files IPO papers with SEBI. Again, it is not unique because it is headed by a first generation entrepreneur. The IPO size of Rs 70 crore or its turnover of Rs 222 crore after 30 years is no news at all.

It was a never-before-witnessed scene: an NRI being beaten up by immigration authorities at the international terminal of the Mumbai airport.

Stock market regulator SEBI and AMFI (Association of Mutual Funds in India) have made PAN (permanent account number) and KYC compliance (know your customer) mandatory for mutual fund investors.

Kerala will have its own schools football league shortly.

The Government has given ‘in principle’ approval to the Government of Kerala for setting up of Greenfield International Airport through the PPP route at Kannur.

With the arrest of Peoples’ War Group leader Malla Raja Reddy from Angamali, the Naxalists have felt that Kerala is not a safe place for them to hide.

Fresh News

Hoffman's Indian Fine Art Fund, which would raise funds through both resident Indian, NRIs as well as global investors, would be a 5-year closed-ended offshore fund.

The Kerala health department has asked people to exercise caution following outbreak of bird flu in two districts of West Bengal.

A two-decade wait for the people of Kannur district in Kerala finally bore fruit when the Indian cabinet Thursday gave its nod for a new airport at Kannur.

Kerala Chief Minister VS Achuthanandan Saturday will lay the foundation stone of the Rs.40 billion ($1 billion) cyber city to be built here by the HDIL in Kalamasserry Kochi.

The Indian diaspora seems to be taking a long-term view on India, with NRI remittances touching a new high of US$ 10 billion during July-September 2007 quarter.

UK based Omana Gangadharan has become the first Indian to don the prestigious Civic Ambassador's chain and badge.

The Malaysian government is expected to sign an agreement with the Indian government for the development of a medical city in Kerala.

The 2007 Darwin Awards

Yes, it's that magical time of year again when the Darwin Awards are bestowed, honoring the least evolved among us.

Here is the glorious winner:

1. When his 38-caliber revolver failed to fire at his intended victim during a hold-up in Long Beach , California , would-be robber James Elliot did something that can only inspire wonder. He peered down the barrel and tried the trigger again. This time it worked.

And now, the honorable mentions:

2. The chef at a hotel in Switzerland lost a finger in a meat-cutting machine and, after a little shopping around, submitted a claim to his insurance company. The company expecting negligence sent out one of its men to have a look for himself. He tried the machine and he also lost a finger. The chef's claim was approved.

3. A man who shoveled snow for an hour to clear a space for his car during a blizzard in Chicago returned with his vehicle to find a woman had taken the space. Understandably, he shot her.

4. After stopping for drinks at an illegal bar, a Zimbabwean bus driver found that the 20 mental patients he was supposed to be transporting from Harare to Bulawayo had escaped. Not wanting to admit his incompetence, the driver went to a nearby bus stop and offered everyone waiting there a free ride. He then delivered the passengers to the mental hospital, telling the staff that the patients were very excitable and prone to bizarre fantasies. The deception wasn't discovered for 3 days.

5. An American teenager was in the hospital recovering from serious head wounds received from an oncoming train. When asked how he received the injuries, the lad told police that he was simply trying to see how close he could get his head to a moving train before he was hit.

6. A man walked into a Louisiana Circle-K, put a $20 bill on the counter, and asked for change. When the clerk opened the cash drawer, the man pulled a gun and asked for all the cash in the register, which the clerk promptly provided. The man took the cash from the clerk and fled, leaving the $20 bill on the counter. The total amount of cash he got from the drawer... $15. [If someone points a gun at you and gives you money, is a crime committed?]

7. Seems an Arkansas guy wanted some beer pretty badly. He decided that he'd just throw a cinder block through a liquor store window, grab some booze, and run. So he lifted the cinder block and heaved it over his head at the window. The cinder block bounced back and hit the would-be thief on the head, knocking him unconscious. The liquor store window was made of Plexiglas. The whole event was caught on videotape.

8. As a female shopper exited a New York convenience store, a man grabbed her purse and ran. The clerk called 911 immediately, and the woman was able to give them a detailed description of the snatcher.
Within minutes, the police apprehended the snatcher. They put him in the car and drove back to the store. The thief was then taken out of the car and told to stand there for a positive ID. To which he replied, "Yes, officer, that's her. That's the lady I stole the purse from."

9. The Ann Arbor News crime column reported that a man walked into a Burger King in Ypsilanti , Michigan , at 5 A.M., flashed a gun, and demanded cash. The clerk turned him down because he said he couldn't open the cash register without a food order. When the man ordered onion rings, the clerk said they weren't available for breakfast. The man, frustrated, walked away. [*A 5-STAR STUPIDITY AWARD WINNER]

10. When a man attempted to siphon gasoline from a motor home parked on a Seattle street, he got much more than he bargained for. Police arrived at the scene to find a very sick man curled up next to a motor home near spilled sewage. A police spokesman said that the man admitted to trying to steal gasoline and plugged his siphon hose into the motor home's sewage tank by mistake. The owner of the vehicle declined to press charges saying that it was the best laugh he'd ever had.

Fresh News

S Krishnasamy, ethnic Indian leader of Malaysia's southern state of Johor, an assembly member representing the Malaysian Indian Congress was shot dead near his office as he was leaving to attend a meeting in the afternoon.

India will permit qualified overseas Indian professionals like doctors, dentists, architects and chartered accountants to work in the country.

India will sign pacts with other countries to exempt its nationals from making social security contributions. Negotiations are already in place with the Netherlands, Germany, Sweden and Norway.

Overseas Citizen of India cards were issued to over 200,000 applicants thus far.

Labour pacts have been signed with the United Arab Emirates, Kuwait and Qatar for the protection and welfare of overseas Indians working in all sectors and similar pacts are targeted with Malaysia, Oman and Bahrain.

NRI teachers S Rajendra and M Sangeetha both 27, who were abused by their Malaysian employers for three years have decided to go back home to India without charging the Malaysian couple who ran the school, with cruelty and abuse. They settled for USD 1,300 for each as compensation.

It is estimated that NRIs contribute 5% to Britain's GDP.

Prime Minister Manmohan Singh announced the launch of the Overseas Workers Resource Centre and the Global Advisory Council at the inauguration of the Pravasi Bharatiya Divas in Delhi.

Overseas Workers Resource Centre will operate as a multilingual helpline for grievance redressal and intervention as a pioneering effort to expand the scope of services to promote legal migration.

Prime Minister Manmohan Singh affirmed that the security and welfare of NRIs is a top priority of the country's diplomatic missions.

UAE RAK - A sixty year old Indian drowned trying unsuccessfully to save his depressed son who jumped into the sea because he was not allowed to go back to his wife in Kerala.

The Kenyan NRI business community, most of whom are Gujaratis, have suffered losses estimated at around Rs500 crores (over US$12 million) in the recent ethic violence. Indian businesses in Kisumu have suffered most, with as many as a hundred food shops targeted by rampaging mobs that looted and burned the establishments.

The ten month old Overseas Indian Facilitation Centre for NRIs and PIOs has become so popular that they are considering an expansion of their service offers as the government prepares to host the year's Pravasi Bharatiya Divas shortly.

Overseas Indian Facilitation Centre's web site www.oifc.in was set up as a one stop site where NRIs and PIOs post queries for advice on investment opportunities as well as tax and real estate regulations.

Richa Gangopadhyay 21, a final year student at Michigan State University, majoring in dietetics and nutrition was crowned Miss India USA 2007 at the 26th annual beauty pageant held in New Jersey. Richa also won the title of Miss Photogenic.

At one hospital in Anand, Gujarat a number of pregnant women live, are cared for and nourished as they culminate their pregnancies as surrogates for children of infertile couples from around the world. The clinic matches them and counsels them as they prepare to birth the babies in a growing business of outsourced pregnancies with buyers from the US, Taiwan, the UK and beyond.

The Ministry for Overseas Indian Affairs plans to announce the introduction of an India Development Fund. The fund will channel contributions from NRIs towards philanthropic activities.

India will soon provide access to a 24/7 toll free helpline where NRI Overseas workers can voice their concerns on exploitation or neglect from anywhere in the world. Overseas workers' resource centres will be set up to deal with distress calls on the number 1800 11 3090. Counsellors will help callers in distress, will direct callers looking for employment opportunities.

Tata Motors launch its Rs 1 lac (US$ 2,500) Car named Tata Nano. It meets all the safety and environment norms and can carry 5 persons.

Fresh News

While most Kashmiri traders in Kerala have been in the handicraft business for decades, it's the newer entrants who are suddenly under scrutiny.

According to Kerala agriculture minister Mullakara Ratnakaran, a decision to have Horticulture Research Centre was taken at a review meeting of the state horticulture mission.

Pyramid Saimira Theatre Ltd has announced that the Company has inaugurated Brahmin's Kitchen, the group's first signature South Indian restaurant at their palakkad theatre.

Gulf-based NRI entrepreneur Ravi Pillai is going to enter the hospitality sector in India in a major way including a hotel in Kerala. He was recently conferred the prestigious "Pravasi Bhartiya Samman 2008" by Ho'ble president of India.

The industrial capital of Kerala, Kochi is attracting a lot of NRI’s. The city offers grand investment opportunities for real estate and immense number of NRI’s are interested to buy homes in Kochi.

A tsunami museum, the first of its kind in India, has been opened at Alappad village in Kerala’s Kollam district. It aims to educate people about the risks.

Air India Express will soon start daily services between Doha and Kerala.

An ancient city excavated on Kerala's Malabar coast had trade links with many key centres around the world as far back as 500 BC, fresh archaeological evidence says.

Money Mule

The term ‘money mule’ is currently in news as HDFC Bank has reported a case of illegal transfer of funds by a customer to an overseas account and a complaint in this regard has been lodged with the cyber crime cell of the Mumbai Police. Few other banks have also noticed instances of fraudsters based overseas, posing as global payment companies, luring gullible people into joining them as ‘money transfer agents’ and using their bank accounts to route ill-gotten money. The incidence of Nigerian scam through e-mail has already augmented in India. So let us understand what money mule is all about.

What is a money mule?
As per Wikipedia, a money mule is a person who transfers money and reships high value goods that have been fraudulently obtained in one country, usually via the internet, to another country, usually where the perpetrator of the fraud lives. The term money mule is formed by analogy with drug mules i.e. drug smugglers. Such frauds are quite rampant in UK and USA.

Money mule, Why?
Fraudsters belonging to a particular country obtain the credit card numbers, bank account numbers, passwords and other financial details of a victim living in another country via internet through techniques such as malware and phishing but find it difficult to turn those details into use in their own country. Many businesses will refuse to transfer money or ship goods to certain countries where there is a high likelihood that the transaction is fraudulent. The fraudster therefore recruits a money mule in the victim's country who will receive money transfers and merchandise and resend them to the criminal in return for a commission.

How it works?
Money mules are recruited by a variety of methods, including spam emails, advertisements on genuine recruitment web sites/newspapers, approaches to people with their CVs available online, instant messaging etc. Jobs are usually advertised as a ‘financial manager’ and suggest that no special knowledge is required. Hackers steal bank account details of an unwary customer by methods such as phishing and transfer the money to some account, which belongs to the hacker. They then try to recruit money mules by sending them spam emails, news letters, snail mails, by advertising in news papers or online job websites and using chat rooms. Hackers and fraudsters pose as financial managers or other top level functionaries and make it clear that no special knowledge or skill set is required for the job and it is a very easy money making opportunity involving just transfers of funds.

To gain credibility, the hackers even get 'official looking' contracts signed by the mules and convince that they are a part of international company. After a successful 'recruitment', the details of money mule's bank account are obtained and funds are transferred by fraudsters to mule's bank account. The mules are then asked by the fraudsters to transfer these funds to some overseas bank account and mules are compensated with some 'commission' for this service. Subsequently, the overseas fraudsters close their account and disappear. Even though the mule has nothing to do with the actual extraction of funds from another person's account, by allowing his/her account to be used to receive and transfer such funds, one will be acting illegally.

How to identify a money mule advertisement?
Money mule advertisements or offers can take a variety of different forms and they may even copy a genuine company's web site and register a similar web address to add authenticity to the scam. These advertisements will normally state that they are an overseas company seeking ‘representatives’ or ‘agents’ to act on their behalf for a period of time, sometimes to avoid high charges for making payments, or local taxes. The advertisements may be written in poor english with grammatical and spelling mistakes and they may urge the receiver not to inform the bank or the police about the reason for making the payments. The advertisements may seek people with accounts at certain banks or Internet payment systems.

How to avoid becoming a money mule?
• Be wary of offers from people or companies overseas. Take steps to verify any company which makes you a job offer and check their contact details (address, phone number, email address and web site) are correct and whether they are registered in that particular country.
• Be wary of any unsolicited offers or opportunities for work or offering you the chance to make some easy money, especially if the company is based overseas.
• Verify the details of any company that you are dealing with and never give your bank account details to someone you do not know or trust.
• Contact your bank immediately if you think that you may have become involved in a money mule scam.

Indian scenario:
Recently, RBI had issued a warning to the public not to fall prey to fictitious offers for release of cheap funds claimed to have been remitted by overseas entities to banks in India or RBI. It also had urged members of the public not to make any remittance towards participation in such schemes or offers from unknown entities. Soon after, the case of HDFC Bank came to the lime light. HDFC Bank had noticed instances of money mule activity and got one of its customers, who was a victim of phishing, to file a police complaint and also helped the police nab another accountholder who was recruited as a money mule by some overseas fraudster. Other private sector banks have also detected that some of their accountholders were acting as money mules for inward and outward transfers of fraudulently obtained money. According to the bankers, India is all set to become a popular destination of such fraudsters because of the liberalisation of capital inflows and outflows.

Money mule scam has put bankers on alert. Banks have decided to sensitise their customers against phishing and money mules. At a recently held meeting at the Indian Banks’ Association (IBA), major banks, including ICICI Bank and HDFC Bank, have decided to send communications to customers in this regard. According to the participants of the meeting, “Banks will post advisories on their websites. It is very important as gullible people are being duped. An individual acting as a money mule is breaching the law unknowingly and could be booked for money laundering.”

How to check money mule activity?
The Indian Banking sector has to take safe guard against the latest import from abroad i.e. money mule activity. As already mentioned, the campaign for sensitising the customers should be taken up aggressively. Similarly, there is the need to check phishing activities, as it is the root of all these cyber scams. In the United Kingdom, a phishing awareness campaign, Bank Safe Online, has been launched by a consortium of British banks. The initiative, which is managed by the Association for Payment Clearing Services or APACS, has zeroed in on the money mule scam, issuing stern warnings about the fake jobs and the risks involved with reshipping and laundering money. In India, similar steps may be taken by the banks. More over, as a preventive measure, stringent regulation on the cyber cafes should be introduced as fraudsters use these cafes for phishing activities. Awareness along with vigilance will definitely help in checking money mule activity.

Indian Lion in Dubai Zoo

In a poor zoo of India , a lion was frustrated as he was offered not more than 1 kg of meat a day. The lion thought its prayers were answered, when one day a Dubai Zoo Manager visited the zoo and requested the zoo management to shift the lion to Dubai Zoo.

The lion was so happy and started thinking of a central A/c environment, a goat or two every day.

On its first day after arrival, the lion was offered a big bag, sealed very nicely for breakfast. The lion opened it quickly but was shocked to see that it contained few bananas. The lion thought that maybe they cared too much for him as they were worried about his stomach as he had recently shifted from India

The next day the same thing happened. On the third day again the same food bag of bananas was delivered.

The lion was so furious; it stopped the delivery boy and blasted at him, 'Don't you know I am the lion...king of the Jungle..., what's wrong with your management?, what nonsense is this?, why are you delivering bananas to me?'

The delivery boy politely said, 'Sir, I know you are the king of the jungle. .. but... you have been brought here on a monkey's visa !!! '

Fresh News

Kerala’s rubber growers may encounter some problems in the coming months with the country’s import of natural rubber going up. This has resulted in a rise in stocks.

 

Kerala’s pepper growers are getting some relief following a rise in prices after a slump in output in all areas of the state, especially the spices district of Kerala.

 

Country's leading lender State Bank of India on Friday invited expression of interest for its proposed foray into non-life insurance segment. "The bank is looking for a joint venture partner for its proposed foray into non-life insurance in accordance with the foreign direct investment regulations for insurance companies in India," SBI said while inviting the EoIs.

Fun - One Line Humor

[1] Regular naps prevent old age, especially if you take them while  driving.

 

[2] Having one child makes you a parent; having two you are a referee.

 

[3] Marriage is a relationship in which one person is always right and the other is the husband!

 

[4] I believe we should all pay our tax with a smile. I tried - but they wanted cash.

 

[5] A child's greatest period of growth is the month after you've purchased new school uniforms.

 

[6] Don't feel bad. A lot of people have no talent.

 

[7] Don't marry the person you want to live with, marry the one you cannot live without, but whatever you do, you'll regret it later.

 

[8] You can't buy love, but you pay heavily for it.

 

[9] Bad officials are elected by good citizens who do not vote.

 

[10] Laziness is nothing more than the habit of resting before you get tired.

 

[11] Marriage is give and take. You'd better give it to her or she'll take it anyway.

 

[12] My wife and I always compromise. I admit I'm wrong and she agrees with me.

 

[13] Those who can't laugh at themselves leave the job to others.

 

[14] Ladies first. Pretty ladies sooner.

 

[15] A successful marriage requires falling in love many times, always with the same person.

 

[16] You're getting old when you enjoy remembering things more than doing them.

 

[17] It doesn't matter how often a married man changes his job, he still ends up with the same boss.

 

[18] Real friends are the ones who survive transitions between address books.

 

[19] Saving is the best thing. Especially when your parents have done it for you.

 

[20] Wise men talk because they have something to say; fools talk because they have to say something

 

[21] They call our language the mother tongue because the father seldom gets to speak!

 

[22] Man: Is there any way for long life?

Dr: Get married.

Man: Will it help?

Dr: No, but then the thought of long life will never come.

 

[23]Why do couples hold hands during their wedding? It's a formality just like two boxers shaking hands before the fight begins!

 

[24]Wife: Darling today is our anniversary, what should we do?

Husband: Let us stand in silence for 2 minutes.

 

[25]It's funny when people discuss Love Marriage vs Arranged. It's like asking someone, if suicide is better or being murdered.

 

[26]There is only one perfect child in the world and every mother has it.

 

[27]There is only one perfect wife in the world and every neighbour has it! 

UAE to keep dollar peg after review: Suwaidi

The United Arab Emirates will keep the dirham's 30-year link to the dollar after completing a review of its currency regime, said central bank Governor Sultan bin Nasser Al Suwaidi.

"In 12 months I can say to you that the UAE will maintain the peg,'' Al Suwaidi said in an interview in Abu Dhabi yesterday.

"We have come to the conclusion that the inflation problem does not lie with the peg against the US dollar."

Gulf states, including the UAE, are under pressure to revalue or loosen their ties to the dollar after the US currency fell 10 per cent against the euro last year, raising the cost of imports. The exchange rates have come under greater strain after the US Federal Reserve began cutting interest rates in September to avert a recession, forcing Gulf states to follow suit, even as they try to ease pressure on prices.

Al Suwaidi had said on November 15 that the falling dollar may trigger a review of the peg, causing forward contracts to buy dirhams in one year to jump the most in at least 10 years to 3.58 per dollar, a 2.8 per cent premium over the spot price. The dirham is fixed to the dollar at 3.6725.

"We were studying the causes of inflation and we came to the conclusion that the causes are not in the dirham/US dollar peg, therefore we need not do anything on that front,'' Al Suwaidi said yesterday.

Suwaidi said at the end of 2006 that the central bank would have converted 10 percent of its dollar reserves into euros by September 2007. The rapid appreciation of the euro was a hindrance to buying the European currency and contributed to the central bank missing that target, Al Suwaidi said yesterday.

UAE inflation accelerated to a record 9.8 per cent last year from 9.3 per cent in 2006, according to the median forecast of seven economists surveyed by Bloomberg.

Only a third of that inflation is due to the weaker dollar, Al Suwaidi said. The rest can be accounted for by rents, because of a shortage of housing and office space, he added.

Kuwait became the first Gulf Arab state to drop its currency's peg to the dollar in May last year when it began linking it to a basket of currencies including the euro, the yen and the British pound. After dipping in June and August, Kuwaiti inflation jumped to a record 6.2 in September.

"It means the causes of inflation are not in the monetary policy,'' Al Suwaidi said yesterday of Kuwait's rising inflation. "It is somewhere else." The central bank governors of Saudi Arabia, Qatar, Oman and Bahrain have said that they have no intention to drop their dollar pegs

Nearly 225,000 firms face action

No grace period for them, only penalties, the UAE Minister of Labour Dr Ali bin Abdullah Al Kaabi has warned companies which failed to open bank accounts of their employees. Talking to Khaleej Times yesterday, Dr Al Kaabi said all such companies that did not open bank accounts of their staff, as instructed by the Labour Ministry, were sure to face stiff penalties.

“There is no grace period for them because we had announced the decision in June 2007. Hence the companies had full six months to comply with the Cabinet Decision No. 1/133 for the year 2007 to transfer the workers’ salaries to their bank accounts, to be paid electronically (by ATM cards),” said Dr Al Kaabi. The errant companies, said the minister, now face suspension of their activities at the Ministry of Labour (MoL). They may no longer be issued work permits or get the sub-contracts attested, he noted. Dr Al Kaabi stressed that the decision was aimed at protecting the rights of workers.

“There are more than 2.8 million workers in the UAE and we work to protect their rights, of which the wage is the most important. Every worker has the right to get his/her salary on time without delay,” he made it clear. Meanwhile, commenting on the errant companies, Obaid Rashid Al Zahmi, assistant under-secretary at the MoL, told Khaleej Times: “More than 90 per cent of the companies in the country have not opened bank accounts of their employees.

The number is huge; it comes to some 225,000 companies out of the total 250,000 companies in the country.” However, many companies abided by the decision despite the large manpower they employ. Statistics collected by the MoL, for example, show that some of the big contracting firms opened bank accounts for more than 250,000 of their staff, he said.

Indian TV ads warn people of job swindlers

The Indian Government has come up with television advertisements warning people of illegal recruiting agents who might lure them with the promise of jobs in the Gulf and other countries.

The Ministry of Overseas Indian Affairs’ (MOIA) advertisements in English and regional Indian languages caution people, especially rural Indians, on the dangers of going to the Gulf, including the UAE, and other countries through such unscrupulous agents.

Vayalar Ravi, Overseas Indian Affairs Minister, told Khaleej Times over the phone, “This is a new awareness campaign on different counts, where we are encouraging people to migrate through legal channels, instead of approaching illegal agents. We are telling Indians, particularly those in the villages, not to be cheated by illegal agents or touts who want to exploit them. This is a focused campaign as we want to protect our people rather than pushing them further into debts.”

Over the last one month, several advertisements have been rolled out in Hindi, Malayalam, Telugu, Tamil and Punjabi to create awareness among Indians aspiring to work abroad. The 30-second ads, apart from cautioning potential labourers, also warn women employees on how they might be duped.

They show vulnerable, enthusiastic individuals willing to shell out large sums of money to unscrupulous agents for a job in these countries. Similarly, some ads highlight the situation of women and children, whose families are promised good money while they are taken abroad for illegal jobs.

Ravi added that the advertisements targeted job-seekers and people who want to get their daughters married to NRIs in Western countries. According to MOIA statistics, 642,000 Indians went abroad last year on proper employment visas, mostly to the Gulf countries and Malaysia.

The recent amnesty in the UAE saw nearly 100,000 illegals going back to India, says the Indian Embassy in the UAE.

Indian Ambassador to the UAE Talmiz Ahmad told Khaleej Times that these advertisements “touched on simpler and larger issues that would jolt people out of their complacency”.

“These ads imply that people must go to registered recruiting agents, that they must not make large payments to anyone, they should ensure that they are being employed by credible employers and importantly that women employees have proper documentation,” he said.

Indians advised to look for jobs on mission visa

Job-seekers who wish to come to the UAE to look for employment opportunities can opt for a ‘Mission Visa’, instead of a visit visa, Talmiz Ahmad, the Indian ambassador to the UAE, said at a Press conference held on the embassy premises here yesterday.

The Mission Visa, he said, will be valid for three months, during which the job-seekers can scout for jobs, Ahmad said.

The new concept of Mission Visa (MV) is aimed at rooting out the menace of illegals, who come on visit visas, start working and stay back illegally.

The MV gives the visitor a chance to decide whether he/she wants to work here or not. It gives them a three-month legal residence status, and in this period, a person has the full freedom to look for employment of his/her choice.

The MV will cost Dh500 for three months, and can be renewed for another three months by paying a fee of Dh1,000. After the expiry of this extended three months, one has to pay Dh500 for every extra day of stay.

The MV has become available from the current month, the Indian envoy said. The UAE’s Minister of Labour, Dr Ali bin Abdullah Al Kaabi, had earlier asked ambassadors and charge d’affaires of different missions to spread the message of Mission Visa among their community members.

SBI Tax Advantage Fund Series - 1

SBI Funds Management Pvt Ltd on Friday filed initial papers with India's market regulator to launch a fund that would invest in companies likely to play a role in the development of India's economy.

 

SBI Nation Builder Fund would target firms that would fuel the energy requirement of the country, build and operate infrastructure, and companies that would fund this growth, the fund house said in its offer document.

 

The fund would invest at least 65 per cent of the assets in equities and the rest in debt and money market instruments, it added.

 

SBI mutual fund already runs an infrastructure equity fund that has given 53.4 per cent return since its launch last year as compared with 45.9 per cent rise in its benchmark BSE 100 index during the period.

 

The fund house managed assets worth about Rs 29,200 crore at the end of December, data from the Association of Mutual Funds in India showed.

Fresh News

Bharat Vanshi Gaurav Samman was conferred on Thomas Abraham on Saturday for his contribution to take up the issues of People of Indian Origin (PIO) and NRI movement.

 

State Bank of India, the country's largest commercial bank, will finalise by mid-January the date and the share entitlement ratio for its planned rights issue, its Chairman, Mr O.P. Bhatt, has said.

 

A four-day festival of Kerala art forms, Utsavam 2007, is being held in the United Arab Emirates (UAE)

 

The surge in gold prices is impacting the sales of Kerala jewellers even as the wedding season is around for the state.

 

The Punjab government is setting up six police stations for NRIs and a fast track court to deal with issues related to them.

 

The major chunk of NRI remittances to Kerala was ploughed back into the real estate sector earlier. However the small time investors who felt the heat of the sky rocketing land prices are settling for the equally lucrative stock trading.

 

Kerala Friday came out with a draft 'land policy' to ensure that the Kerala Land Reforms (KLR) Act is not violated.

 

An Air-India flight carrying the first batch of 219 Haj pilgrims from Kerala arrived at Karipur International Airport Calicut.

 

Kerala has made rapid strides in its core competent areas namely, tourism services and also in social development. Services sector is driving Kerala GDP growth.

 

The way has been cleared for the Sabarimala railway link to the base of the hilltop Sabarimala shrine in Kerala.

 

Kerala forest department officials suspect that illegal trade in snake venom is thriving in the state.

 

AAA has launched 52 ambulance services in Kerala of which seven belongs to the Dial 1298 for Ambulance Service.

If only men would listen

A man and a woman are driving down the same road at the same time. As they pass each other the woman leans out the window, points and yells, “PIG!”
The man immediately leans out his window, shakes his fist and shouts back,“WITCH!"
They each continue on their way, and as the man rounds the next corner, he slamsinto a pig that had wandered into the middle of the road. If only men would listen.

Even God has a Sense of Humor!!

God was in the process of creating the universe.And he was explaining to his subordinates "Look everything should be in balance.For example, after every 10 deer there should be a lion.
Look here my fellow angels, here is the country of the United States.I have blessed them with prosperity and money. But at the same time I have given them insecurity and tension....
And here is Africa. I have given them beautiful nature. But at the same time, I have given them climatic extremes.
And here is South America. I have given them lots of forests. But at the same time, I have given them lesser land so that they would have to cut off the forests... So you see fellows, everything should be in balance.
One of the angels asked..."God, what is this extremely beautiful country here?"
God said....... "Ahah...that is the crown piece of all. "INDIA", My most precious creation.It has understanding and friendly People.Sparkling streams and serene mountains.A culture which speaks of the great tradition that they live. Technologically brilliant and with a heart of gold.....
The angel was quite surprised:"But god you said everything should be in balance."
God replied --"Look at the neighbors I gave them".

SBI Tie up with Post Offices

State Bank of India has entered into an alliance with India Post in Kerala for making available some of its services to the public in financial inclusion. An agreement to this effect was signed here on Wednesday between Mr Niranjan Parsha, General Manager, SBI, Kerala Circle, and Mr Mervin Alexander, Director of Postal Services, India Post. As per the agreement, India Post will act as a business facilitator/business correspondent of SBI to extend the reach of banking serv ices, especially in un-banked or under-banked areas. Select post offices in the State will make available to the public SBI's deposit and loan products.

Fresh News

Bahrain is to co-operate with the state of Kerala, India, in tourism and infrastructure development. This was revealed by Premier's Court Minister.

Kerala has been witnessing “unprecedented” outbreak of fevers on a “massive” scale, causing heavy strain on health infrastructurr said one state minister.

Communist Chief Minister of Kerala, VS Achuthanandhan, raised eyebrows this weekend by making his first offical visit to the hill shrine of Sabarimala.

Mission work permits from January 2

The Ministry of Labour will grant short term work permits of a total period of six months starting from January 2.
Dr Ali bin Abdullah Al Ka'abi, Minister of Labour, has issued a new decision allowing companies in all sectors to apply for mission work permits for employees who are in probation period or who are in the country for a short term job. "Implementing the mission work permit will help solve the problem of people working on visit visa and it will give greater flexibility in the relationship between the employer and employee," said Al Ka'abi.
People working on a visit visa are illegal and are thus not protected by the labour law. "Contract which protects the worker's right will be issued together with mission work permit and a bank warranty which is taken for each worker will be liquidated in case of non payment of salary," said Al Ka'abi. Brigadier Mohammad Al Merri, Director General of Dubai Naturalisation and Residency Department, said that this new type of work permits are hoped to limit the misuse of visit visas in the country.
"In the next period we are expecting to reduce the number of visit visa issued and companies as companies will bring their workers on the mission work permit," said Al Merri.

Kerala achieves ‘total banking’ distinction

After literacy and universal healthcare, Kerala has achieved another distinction — ‘total banking’. Federal Minister of State for Finance Pawan Kumar Bansal announced at a meeting of the State Level Bankers Committee (SLBC) here yesterday. He said Kerala was the first state in the country to ensure at least one bank account to every family. These families have been provided with ‘no-frills accounts’, a pass book and an automated teller machine (ATM) card. The account makes the family eligible for a general-purpose loan up to Rs25,000. “Kerala started the race for total financial inclusion along with other states. While the state achieved the unique feat, the others are lagging behind. Four states have assured us that they would meet the target by March 2008”, Bansal said. SLBC sources said the campaign had succeeded in Kerala because of high number of expatriates working in various countries across the world. All the families of the two million non-resident Keralites have been maintaining at least one account since they are getting remittances through banks. The NRI deposits constitute more than 40 per cent of the total bank deposits in the state. Although Kerala accounts for only 1.13 of the total population in the country, the state has 5 per cent of the total bank offices. The state has 3,554 commercial bank branches, including 2,410 in the public sector. Curiously the backward district of Palghat was the first district in the state to achieve 100 per cent financial inclusion. The honour came after Palghat became India’s first IT-enabled district headquarters last year. It was followed by Ernakulam district. The initiative to achieve 100 per cent financial inclusion was taken by the State Level Bankers' Committee as per the Reserve Bank of India (RBI) guidelines. The apex bank wanted all states to provide 'no frills' account and a General Purpose Credit Card for extending need-based loan facilities to all households. The SLBC kicked off the drive by conducting a survey to identify families that did not have bank accounts. Different banks were allocated targets as per the survey results. The cooperative banks, which have a large network in the state, were also associated with the campaign. SLBC sources said that several families had refused to open accounts, saying they had no money to operate the accounts. They joined the banking network after they were convinced that the accounts would bring loans and agricultural credits besides helping them in promoting a saving habit.

India in 1835

“I have travelled across the length and breadth of India and I have not seen one person who is a beggar, who is a thief, such wealth I have seen in this country, such high moral values, people of such calibre, that I do not think we would ever conquer this country, unless we break the very backbone of this nation, which is her spiritual and cultural heritage, and therefore , I propose that we replace her old and ancient education system, her culture, for if the Indians think that all that is foreign and English is good and greater than their own, they will lose their self-esteem, their native culture and they will become what we want them a truly dominated nation.”

Lord Macaulay’s address to the British parliament, 2 February 1835.

Let us during the new year resolve to fight all factors that are pulling our country backward, all communal forces that divide us, all corrupt people who deprive us of our eligible and all politicians who exploit us. In the New Year let us respect only people and not the money they have.