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Fortune WorldECONOMY & POLITICS

RNI NO:KARENG/2010/353381 VOL : 3 ISSUE.NO.1005 DAILY BANGALORE,INDIA 3rd MAY 2013 Pages - 2 $1/-USD

Thursday, May 2, 2013:In its pioneering effort to increaseinternet adoption, Aircel, one of India’s leading telecomplayers, launched another unique data plan, Pocket Internet24 (PI-24). The innovative product offered at Rs. 24 for ahigher validity of 30 days, will enable customers to experi-ence and experiment internet on their mobile phones at aneconomical price of less than Re. 1 per day.Especially designed for first time mobile internet users,Pocket Internet 24 will offer adequate data to help familiar-ize with popular search engine and social networkingwebsites. The customers will be able to download applica-tions, surf net and stay connected with family and friends.Deepinder Tiwana, Circle Business Head, Andhra Pradesh,Aircel, said, “India has the third largest internet users inthe world and is rapidly adding 70 million mobile internetusers a year. It is ironic that despite this exponential growth,a majority of the Indian population has never experiencedinternet on their mobile phones. Most of these customersmay have used internet in cyber cafes and desktops buthave never experienced internet on their phones due tolimited awareness and knowledge of high speed mobileinternet. With Pocket Internet 24, we aim to tap this seg-ment and drive internet adoption among first time internetusers.”

Dr. Stefan David Schlipf Appointed as MD&CEO, BMW Financial Services India

Gurgaon, Haryana, India, Thursday, May 02, 2013 --Dr.Stefan David Schlipf (44) has been appointed as the newManaging Director and Chief Executive Officer of BMWFinancial Services India, effective 1 April 2013. Dr. Schlipfis based at the company’s headquarters in Gurgaon (Na-tional Capital Region).

GM Reports First Quarter Net Incomeof $0.9 BillionEPS of $0.58 including net loss from special items of $0.09per share,EBIT-adjusted of $1.8 billionDETROIT – General Motors Co. (NYSE: GM) today an-nounced first quarter net income attributable to commonstockholders of $0.9 billion, or $0.58 per fully diluted share.These results include a net loss from special items thatreduced net income by $0.2 billion, or $0.09 per fully di-luted share.In the first quarter of 2012, GM’s net income attributable tocommon stockholders was $1.0 billion, or $0.60 per fullydiluted share, including a net loss from special items of$0.6 billion or $0.33 per share.Net revenue in the first quarter of 2013 was $36.9 billion,compared to $37.8 billion in the first quarter of 2012. Earn-ings before interest and tax (EBIT) adjusted was $1.8 bil-lion, compared to $2.2 billion the first quarter of 2012. Firstquarter EBIT-adjusted results for 2013 include the impactof $0.1 billion in restructuring costs.“The year is off to a solid start as we increased our globalshare with strong new products that are attracting cus-tomers around the world,” said Dan Akerson, GM chair-man and CEO. “In addition, we saw progress in Europethanks to strong cost actions and great vehicles like theOpel Adam and Mokka.” May 02, 2013 12:53 PM Eastern Daylight Time

DUBAI, United Arab Emirates--(BUSINESS WIRE)--Busi-ness leaders urged Africa to realise its full potential andwork with Dubai to harness the power of its key sectors atthe Africa Global Business Forum 2013, held under theattendance and patronage of H.H. Sheikh Mohammed binRashid Al Maktoum, UAE Vice President and Prime Min-ister and Ruler of Dubai.“The Dubai model is attractive and worth emulating”Overthe two days, more than 4,500 attendees came togetherto discuss exponential business opportunities inagribusiness, trade, logistics and financial services.The firstday was attended by Rt. Hon. Amama Mbabazi, PrimeMinister of the Republic of Ugandap; H.E. Sultan AlMansouri, UAE Minister of Economy; H.E. Reem AlHashimy, UAE Minister of State; H.E. Sindiso Ngwenya,Secretary General, COMESA; and Hon. Danny Faure, VicePresident of the Republic of Seychelles, among other dig-nitaries and business leaders.In his keynote address, Rt.Hon. Mbabazi stressed that Africa could learn from theUAE experience of public and private sector partnerships.“The Dubai model is attractive and worth emulating,” hetold delegates.The Prime Minister also highlighted the

Manufacturing Future Economic Growth and Job CreationNew York, USA, 2 May 2013 –The manufacturing sectorhas a fundamental role toplay in global economicgrowth and job creation foremerging economies anddeveloped markets, says anew report released today bythe World Economic Forum,in collaboration with DeloitteTouche Tohmatsu Limited.According to Manufacturingfor Growth – Strategies forDriving Growth and Employ-ment , key drivers behind asuccessful advanced manu-facturing strategy include acompetitive tax system, freeand fair trade, education andtalent development, energyefficiency, and technology andinnovation.“Our report re-flects the broad support –from business and govern-ment – that is necessary and

exists today to create a pro-gressive, innovative enablingenvironment for manufactur-ing,” said Andrew Liveris ,Chairman and Chief Execu-tive Officer of The Dow Chemi-cal Company and GlobalCEO Champion of the WorldEconomic Forum’s Manufac-turing for Growth project.“Manufacturing adds value,creating more jobs than anyother sector, driving innova-tion throughout every seg-ment of our society and deliv-ering consumer solutions –all of which are the keys tolong-term, sustainable eco-nomic growth.”Based on discussions withmore than 70 chief executivesand other senior executives,as well as workshops with in-dustry, academic and policyleaders held over the course

of 2012, the report offerspolicy recommendations forsix countries: Germany, Ja-pan, the United States, Brazil,China and India.While the recommendationsvary based on industry sectorand the unique circum-stances of each country, sev-eral common and recurringthemes have emerged re-garding what constitutes ef-fective public policy to drivegrowth from manufacturingindustries: competitiveness,fairness, stakeholder col-laboration, institutional legiti-macy, credibility and marketconfidence, financial pru-dence, and consistency, sta-bility and certainty.“Countries are now thinkingmore strategically about howto develop an integrated port-folio of public policies that en-

hance the overall innovationcapability of the nation to de-sign, develop and manufac-ture a wide variety of sophis-ticated products.That is, how to foster an ad-vanced manufacturing eco-system”, said JohnMoavenzadeh , Senior Direc-tor and Head of the WorldEconomic Forum’s MobilityIndustries Team. “As globalvalue chains of design andproduction of goods are be-coming more complex, busi-nesses, government, labourorganizations and academianeed to collaborate in mak-ing strategic choices abouthow to develop and sustainthe knowledge and capabili-ties necessary to be leadersin the advanced manufactur-ing economy.”

4,500 Delegates Attend Africa Global Business Forum 2013,Call for action comesfrom African and UAE business leaders

“bottlenecks” to Africa’s development, including lack of in-frastructure, small-scale internal markets and under devel-opment in human resource, which he said were being ad-dressed by governments across the continent.Accordingto Heba Salama, Director, COMESA Regional InvestmentAgency, Africa is a “continent transformed”. She urgedcompanies to act now, saying the continent’s young popu-lation and rising middle class were driving consumer spend-ing, which is set to hit US $1.4 trillion by 2020.

Aircel offers Internet for a month atless than Re. 1/day

FORTUNE WORLD - 3RD MAY 20132 LAST PAGE2 EDITORIAL

2 May 2013 -Marketable debt instruments issued or fully guaranteedby the Republic of Cyprus and fulfilling all other eligibilitycriteria shall again constitute eligible collateral for the pur-poses of Eurosystem credit operations, subject to specialhaircuts. This is the consequence of the decision of theGoverning Council of the European Central Bank (ECB) tosuspend the application of the minimum credit rating thresh-old in the collateral eligibility requirements for the purposesof the Eurosystem’s credit operations in the case of mar-ketable debt instruments issued or guaranteed by theCypriot government. This suspension will be maintaineduntil further notice.In this decision the Governing Council has taken into con-sideration the Memorandum of Understanding concludedbetween the Republic of Cyprus and the European Com-mission and endorsed by the Member States, reflectingthe economic and financial adjustment programme forCyprus. The Governing Council considers this programmeto be appropriate.Eurosystem introduces Europa Series €5 banknoteA new €5 banknote, the first one in the Europa series,started to circulate today in the euro area countries.To mark the occasion, a short event hosted by JozefMakúch, Governor of Národná banka Slovenska, was heldin the Slovak capital, Bratislava, where the Governing Coun-cil was meeting. A group of “euro generation” children –those who have grown up only knowing the euro – handedover transparent stars containing the new €5 banknote to

ECB announces change in eligibility of marketable debt instrumentsissued or guaranteed by the Cypriot government

the members of the Governing Council. The ECB’s Presi-dent, Mario Draghi, also presented a signed new €5banknote to each child.The new €5 banknote has benefited from advances inbanknote technology since the first series was introducedin 2002. It includes some new and enhanced security fea-tures. The watermark and hologram display a portrait ofEuropa, a figure from Greek mythology – and hence thename of this series of banknotes. An eye-catching “emer-ald number” changes colour from emerald green to deepblue and displays an effect of the light that moves up anddown. Short raised lines on the left and right edges of thebanknote make it easier to identify the banknote, espe-cially for visually impaired people. All these security fea-tures can be found on the front side of the new note andcan be readily checked using the “feel, look and tilt” method.It is envisaged that they will be included in all the banknotesof the Europa series. The other banknotes in the serieswill be introduced in the years ahead, with the €10 as thenext denomination.The ECB’s website and the newfaceoftheeuro website havepictures and TV footage of the event as well as furtherinformation on the new banknote, including several videoshighlighting its security features. The “Euro Cash Acad-emy”, an interactive way to learn about the new €5 and theother denominations, is also available on both thesewebsites and as a smartphone app – in 22 European Unionlanguages.

EVOK ANNOUNCES THE OPENING OF LARGEST STORE IN BENGALURUBangalore, 02 May 2013:Offers Branded Solid WoodFurniture and fashionablehome décor items. Afteropening its first store inBengaluru in the year 2011,EVOK, the trendsetter ofhome fashion in India, todayannounced the opening of itslargest retail store inBengaluru. The new store isEVOK's third store in thecity and is in line with itscommitment to expand itsretail operations in SouthernIndia. With the launch of thenew store, EVOK has ex-panded to 17 exclusive out-lets across 14 cities in thecountry. The new EVOKMega Store is spread acrossa total surface area of 13000sq ft on 4 levels. It aspiresto be the first-choice partnerfor customers searching forstylish home interior solu-tions. With the launch of thenew store, EVOK is alsosetting the trend of introduc-

Panasonic Recognizes Young Talent for their Vision on ‘Green Planet’New Delhi, May 02, 2013 :Panasonic, the global leader ininnovation and technology, today awarded bright youngminds for their impressive thinking on creating a greenerand better tomorrow. The company felicitated the winnersof Panasonic Ecoskool Program, in addition to Kids Wit-ness News and Eco Picture Diary programs.. The winnerof the grand finale was Cambridge International School,Amritsar with their heart-wrenching story encouraging treeplantation. The first runner-up awards went to Holy AngelsConvent School from Muzaffarnagar while GSSS UdaipurChamba Block School from Shimla stood third in the com-petition.Speaking on the occasion, Mr. Hem Pandey, AdditionalSecretary - MoEF (Ministry of Environment & Forest) said,“Considering the grim ecological and environmental condi-tions we face today, it has become imperative for all of usto recognize our responsibilities towards the planet andtowards the well-being of the society. I would congratulatePanasonic for coming forward with an initiative like the

MG Sanghvi, CMD, Syndicate Bank with M anjaneya Prasad, ExecutiveDirector addressing press meet on the annual financial results of Syndicate Bank,in Bangalore on Thursday 2nd May 2013May 02, 2013, 04.48 PM IST:. Syndicate Bank Q4 net up91.4% to Rs 592.3 cr, shares up 8%.Public sector lenderSyndicate Bank surprised the street with fourth quarter(January-March) net profit rising 91.4 percent year-on-yearto Rs 592.3 crore, sending shares 8 percent higher. Syn-dicate Bank has surged 7% to Rs 128 on reporting a bet-ter-than-expected 92% year-on-year (yoy) jumped in netprofit at Rs 592 crore for the quarter ended March 2013(Q4) due to lower provisioning for bad loans and tax ex-penses. The state-owned bank had profit of Rs 309 crorein a year ago quarter. Analysts on an average had ex-pected profit of Rs 426 crore.

Bangalore, 02 May 2013: Higher provisions dented CanaraBank 's fourth quarter (Jan-March) net profit, which fellnearly 13 percent at Rs 725 crore. The growth in its netinterest income (NII) or difference between interest earnedand paid out, was muted at just 2.5 percent at Rs 2,091crore Y-o-Y.Bangalore-based public sector lender CanaraBank has recorded a 12.54 per cent decline in net profit atRs 725 crore for the fourth quarter ended March 31, 2013compared to Rs 829 crore reported in the correspondingquarter last year. The drop in net profit was mainly on ac-count of higher provisions towards bad loans and rise inrestructure assets.Bank loans at much slower pace by 4percent to Rs 2.42 lakh crore. Gross non-performing as-set (NPA) ratio stood at 2.57 percent versus 2.77 percentin Q3, FY13 and 1.73 percent a year back.

Syndicate Bank net up 92% toRs 592 crore in Q4.

Canara Bank profit declines 12.54%in Q4

Sircilla, Andhra Pradesh, India, Thursday, May 02, 2013 -UAE Exchange India, announced Mr. Puram Kondal Raoas the winner of Royal Enfield motorbike, in its promo-tional campaign held across India from January 1 to March31, 2013. Mr. Puram Kondal Rao, a farmer, visited UAEExchange Sircilla Branch on March 3, 2013 to avail goldloan and it made him the lucky winner of the coveted mo-tor bike. Mr. Puram Kondal Rao along with his wife Sravanthiand daughter Deeksha were very excited when the offi-cials informed them about the winning. “I feel very happyin winning the bike” said Mr. Puram Kondal Rao to UAEExchange officials.In his official statement, Mr. GeorgeAntony, MD and Country Head, UAE Exchange said, “UAEExchange is an accepted brand in many families.’

UAE Exchange Gives the RoyalEnfield Motorbike to Promo Winner

Ecoskool Program. It is only through such well-designedmass outreach solutions that we can collectively achievea greener planet“.The various fun-filled activities carried outunder the Panasonic Ecoskool program were designed tomake the children think on how their modest contributioncan bring about a change for a greener earth.Congratulating the winners, Mr. Manish Sharma, Manag-ing Director, Panasonic India, said, “The idea of striving fora better world has been a part of our DNA since thecompany’s inception nearly 100 year ago. World over, wecontribute to the society through our corporate citizenshipactivities that are based on education and co-existence;with focus on environment and next-generation”.Present at the occasion, Ms. Radhika Kalia, Head - Cor-porate Public Relations and CSR, Panasonic India, said,“Complying by our management philosophy, we concen-trate on creating a sustainable society and thus view ourcorporate citizenship activities as an investment in soci-ety and not mere profit distribution”.

ing a complete range of solidwood furniture under oneroof. Speaking at the storeopening, Mr. SandeepArora, CEO, HindwareHome Retail Pvt. Ltd. said,

"In keeping with the com-mitment to growing ourpresence in South India, weare excited to open our thirdand largest store inBengaluru. At EVOK, we

understand the consumer'spulse and are equipped tooffer everything for yourhome-furniture, soft furnish-ing and wise array of homedecor products-all under oneroof. EVOK has pioneeredsolid wood furniture which isnot just long lasting but alsovery trendy and offers ex-tremely good value formoney." Mr. Ajay Seth,COO, Hindware Home Re-tail Pvt. Ltd. said,"Bengaluru is one of themost vibrant, fashion-con-scious and trendy cities inIndia and we are happy toexpand our footprint in thecity. In keeping with thelifestyle preferences of thediscerning customers, weare happy to bring our ex-tensive line of home furnish-ing as well as ourtrendsetting, contemporary,fashionable and reliablerange of Modular Kitchensand Modular wardrobes."

FW GROUP OF PUBLICATIONS-INDIA EDITOR-IN-CHIEF : SRINIVAS B.L. PUBLISHED AND PRINTED BY SRINIVAS.B.L-KMSP,BANGALORE-INDIA,DIGITAL SOLUTIONS. MVM, BANGALORE - INDIA.SAARC MEDIA ENQUIRES: 9663982684 UNSOLICITED MATERIAL MAY NOT BERETURNED. THE OPINIONS OF WRITERS ARE THEIRS, NOT OURS. WE ARE NOT RESPONSIBLE FOR INCORRECT LISTINGS AND INFORMATION. WE DO ALL WE CAN TO ENSURE CORRECTNESS, BUT READERS ARE ADVISED TO RECHECK WITH ESTABLISHMENTS. NOPART OF THIS PUBLICATION SHOULD REPRODUCED WITHOUT OUR WRITTEN PERMISSION. LEGAL JURISDICTION RESTRICTED TO BANGALORE CITY ONLY.

Most residents of Estonia have e-ID cards that enableaccess to the state portal. Users swipe them through areader (now pre-installed on all new computers or avail-able separately for less than €10) and confirm their iden-tity with a personal identification number. Through the por-tal, residents can perform an ever-expanding range of tasks:apply for unemployment benefits, file for parental leave,access notary services, pay taxes (94 percent of taxesare declared online), and register new companies.Last but not least, they can vote: Estonia is, to date, theonly nation where citizens can cast online ballots in everytype of election, from local to parliamentary. When Esto-nia held the world’s first binding election3 using Internetvoting, in 2005, a mere 2 percent of voters cast ballotsonline; in the 2011 parliamentary election, that numberrose to nearly 25 percent.

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