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New entrants in the market, a vicious price war, plunging stock prices of telecom companies, and now the Indian telecom subscribers have touched 500 million. We are indeed living in interesting times.

Amidst the raging tariff war leading to telecom stocks getting hammered on the bourses, the country s total subscriber base crossed the 500-million mark in September, 15 month ahead of the targeted schedule of December, 2010.

According to figures released by the Telecom Regulatory Authority of India on Wednesday total telecom subscribers in the country increased to 509.03 million at the end of September from 494.07 million in August, registering a growth rate of 3.03%. With this tele-density has increased to 43.50% with wireless tele-density at 40.31. India is the second-biggest market for wireless services, lagging only China which has more than 600 million users, and is the fastest-growing market in the world.

Mobile opearators led by Bharti Airtel, Vodafone-Essar and Tata Teleservices have been wooing the customers with innovative tariff packages in a market where call rates are already ruling at the rock bottom and is the main driver of the growth. New tariff plans such as per-second billing introduced by most of the operators are likely to see huge subscriber addition in the coming months.

News source: Yahoo

Pictures source: Vivek Mishra & IANS

The International Monetary Fund said on Monday it sold 200 tonnes of gold to the Reserve Bank of India for $6.8 billion, quietly executing half of a long-planned bullion sale that had threatened to slow gold’s rally.

While the IMF’s plan to sell some of its gold holdings had been flagged for a year before it was formally approved in September, the speed of the deal and the buyer were a surprise for traders, who had expected China — not India — to be the leading contender as Beijing diversifies its vast reserves.

The sale, which an IMF official said was concluded at an average price of about $1,045 an ounce over a two-week period in the latter half of October, will relieve the market of some of uncertainty over how and when the fund would execute its plan to sell 403.3 tonnes of gold, about one-eighth of its total stock.

“This transaction is an important step toward achieving the objectives of the IMF’s limited gold sales program, which are to help put the fund’s finances on a sound long-term footing and enable us to step up much-needed concessional lending to the poorest countries,” the IMF’s managing director, Dominique Strauss-Kahn, said in a statement.

While the threat of IMF and central bank sales did not stop gold prices from soaring to a record high $1,070.40 last month, aided by a falling U.S. dollar, traders said the IMF news could add to the market’s upward momentum.

Full article here

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The father of the Indian nuclear programme celebrates his birth centenary today – October 30.

He laid the foundation of India’s huge atomic energy establishment almost singlehandedly, nurturing and expanding it with his dynamic vision. Thanks in no small measure to Homi J. Bhabha’s dream, India’s atomic energy programme has acquired global stature today, capable of designing and testing nuclear weapons and aspiring to meet its growing demands for nuclear energy.

Born to Jehangir Hormusji Bhabha and Meherbai on Oct 30, 1909, in Bombay (now Mumbai), the young Bhabha led a sheltered and emotionally secure childhood. The very first glimmerings of a keen and inquisitive mind became apparent when a specialist told his very worried parents why he slept little — a hyperactive brain that kept him awake at nights.

Excellent family ties with the Tatas and their association with national leaders such as Mahatma Gandhi, Vallabhbhai Patel and Jawaharlal Nehru and also with the British imbued the sensitive boy with a sense of nationalism and perspective.

In 1924, Homi Bhabha passed the Senior Cambridge exam at the age of 15. But by then he had grasped the complexities of Einstein’s Theory of Relativity as well as the intricacies of classical painting.

His arrival in Cambridge, a fount of nuclear physics, three years later in 1927, permitted his native genius to bloom for the next 12 years, where he obtained his PhD in physics with specialisation in cosmic rays, in 1934. He was just 25 then.

Bhabha met many of the greatest physicists of the time, namely Niels Bohr, James Franck, and Enrico Fermi, who played key roles in the Anglo-American atomic weapon programmes.

In March 1944, even before the world acquired a nodding acquaintance with the mighty potential of nuclear energy, Bhabha, then a professor, wrote to Sir Dorab J. Tata, who headed the Tata Trust, proposing an institute for nuclear physics in India.

“When nuclear energy has been successfully applied to power production in, say, a couple of decades from now,” Bhabha wrote with remarkable prescience, “India will not have to look abroad for its experts but will find them ready at hand.”

Thus the Tata Institute of Fundamental Research (TIFR) came into being on Dec 19, 1945, just four months after Hiroshima and three years before Indian independence.

Bhabha served as its first director, which placed him at the commanding heights of the country’s nuclear future, until his premature death in a plane crash in the Swiss Alps on Jan 24, 1966.

Bhabha was very particular about maintaining excellence. Addressing the then National Institute of Sciences, Bhabha said: “This is a field in which a large number of mediocre or second rate workers cannot make up for a few outstanding ones, and the few outstanding ones always take at least 10-15 years to grow.”

As the new nation’s prime minister, Nehru entrusted Bhabha with complete authority over all nuclear-related affairs and programmes. Both of them shared a close rapport. In April 1948 at Bhabha’s bidding, Nehru agreed to legislate the Atomic Energy Act in the Constituent Assembly, creating the Indian Atomic Energy Commission (IAEC).

On Jan 3, 1954, the IAEC decided to set up a new facility, the Atomic Energy Establishment, Trombay (AEET). In August the same year, the Department of Atomic Energy (DAE) came into being with Bhabha as its secretary. Till date, it remains answerable only to the prime minister. Prime minister Indira Gandhi renamed AEET the Bhabha Atomic Research Centre (BARC).

Full article here

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The Twenty20 Champions League cricket tournament starts off at Bangalore today with a clash between the Royal Challengers Bangalore (India) and Cape Cobras (South Africa) at 2000 IST.

I dont think i need to mention where my loyalties lie.  Go Deccan Chargers Go.

The trophy that the below mentioned teams are playing for; along with the prize money of US$ 2.5 million.

The teams are:

India -  Deccan Chargers, Royal Challengers Bangalore, Delhi Daredevils
Australia – New South Wales Blues, VB Victorian Bushrangers
South Africa – Cape Cobras, Diamond Eagles
New Zealand – Otago Volts
Sri Lanka – Wayamba
west Indies – Trinidad & Tobago
England – Sussex, Somerset County Cricket Club.

For comprehensive information about the tournament, go to their official website at clt20.com

All above pictures source: clt20

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Time changes, people change, economies change and the powers wielded by countries change.  There was a time when Britain ruled half the world, today its nowhere.  There was a time when the US was the undisputed economic champion, today that aura is on the wane.

Its in these changing times we wonder if a group that consists of countries like Italy, Canada etc wield any power when the world is going throught the worst recession (courtesy the developed countries).  Of course the US, Japan and Germany are also a part of the G-7 group of countries, but do they really have any clout?  The G-7 as usual came out with a statement asking China to re-value it currency and hardly anyone cared a hoot.

After decades in charge, the club of rich, industrialised nations is fast losing sway as a share of global economic power shifts towards big developing countries. That was a lesson of the Group of Seven’s meeting in Istanbul at the weekend, when the absence of China showed the G7 could no longer tackle the world’s economic problems on its own.

Finance ministers and central bank chiefs from the G7 implored China in a diplomatically worded statement to let the Chinese currency rise, as they have done for several years. But China showed no sign of complying, and the G7 spent much of its time to discussing whether it should meet less often, with less pomp and perhaps with fewer public statements.

G7 statements have all too often “interested nobody because there’s no follow-up most of the time”, said Dominique Strauss-Kahn, the head of the International Monetary Fund.

Read the full article here

The G-7 or the group of Industrialized countries comprise

Canada, France, Germany, Italy, Japan, United Kingdom, United States

The G-20 comprises of

Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa,  South Korea, Turkey, United Kingdom, United States, European Union

A G-7 official hit the nail on the head when he mentioned

“The moment you have to tell people you are still relevant, it’s because you are not relevant,”

Above picture source: Astrocrush

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