Saturday, April 2, 2011
Captain's innings - Proud to be an indian
India v Sri Lanka: captain's innings from Mahendra Singh Dhoni seals World Cup with final flourish
Cricket World Cup Final 2011: India (277-4) beat Sri Lanka (274-6) by six wickets
Agony and the ecstasy: Sri Lanka captain Kumar Sangakkara looks on as India's Yuvraj Singh hugs captain Mahendra Singh Dhoni after he scored the winning runs Photo: REUTERS
India owed their second World Cup to their magnificent batsmen. Their two finest – Sachin Tendulkar and Virender Sehwag – did not score 20 between them, yet the remaining Indian batsmen knocked off the runs with six wickets and ten balls to spare in the highest successful run-chase that any of the ten cup finals has seen.
The weight of expectation on India was enormous – from the outset of this tournament they have been the favourites – but they followed the example of their captain Mahendra Singh Dhoni in withstanding it. If Brazil win a football World Cup at home, they will have a small and silent fan-base compared to the Indian cricket team last evening and their 1.2 billion home supporters.
Sri Lanka were handicapped by dew when they bowled towards the end of India’s innings, and by the absence through injury of their brilliant young batting-allrounder Angelo Mathews, which precipitated four changes to their semi-final team that rather weakened their bowling. Even so, for India to chase down 275 with quite a lot in hand was a superlative effort.
The first time that India won the World Cup, in 1983, their players were given plots of land by the government and practically deified. When India won the inaugural World Twenty20, their team bus was brought to a standstill by millions – literally – thronging Marine Drive, outside the Wankhede stadium where they won last night. But these will be minor celebrations by comparison with winning this World Cup on home soil.
It was the sixth century in a World Cup final, but the first for a losing side.
It was also a great night for Tendulkar, who did not make his 100th international hundred but who was carried around the outfield at the finish on the shoulders of his adoring teammates. ‘The proudest moment of my life,’ Tendulkar called it, after a career that has given no cricketer since Don Bradman more cause for pride.
It was also a great night for Tendulkar, who did not make his 100th international hundred but who was carried around the outfield at the finish on the shoulders of his adoring teammates. ‘The proudest moment of my life,’ Tendulkar called it, after a career that has given no cricketer since Don Bradman more cause for pride.
Saturday, January 22, 2011
2G Spectrum scam explained
Government has been jolted by controversy over licences and radio airwaves that a state auditor says were given out too cheaply, depriving the government of up to $39 billion in revenues. The telecom minister, A Raja was forced to resign and the Prime Minister Dr Manmohan Singh has been asked to
explain himself to the Supreme Court. Opposition parties want a full parliamentary probe and have blocked proceedings until the government relents. So, what is the controversy all about and what does it mean for the telecom sector and companies?
WHERE WAS THE ALLEGED SCAM?
In 2008, the country issued 122 new telecom licences and the second-generation radio spectrum bundled with it to several domestic companies that had little or no experience in the telecom sector, and at a price set in 2001.
The state auditor said that the allocation process did not reflect the correct value of radio spectrum as there was no auction and the entire process was flawed, benefiting selected companies.
The auditor said that the telecoms ministry did not do the requisite due diligence, granting 85 out of the 122 licences to ineligible applicants.
The auditor also said the ministry did not follow its own guidelines, changed the cut-off date for applications, which gave "unfair advantage" to some companies over others. It said that the entire process "lacked transparency and was undertaken in an arbitrary, unfair and inequitable manner".
The auditor said that several companies deliberately suppressed facts, disclosed incomplete information, submitted fictitious documents and used fraudulent means to get licenses and thereby access to spectrum.
WILL COMPANIES LOSE LICENSES?
The auditor said that units of Unitech Ltd, which received licences in 2008 and now operates services in a joint venture with Norway's Telenor, had not fulfilled eligibility conditions including required share capital.
Other firms which were ineligible according to the auditor include Loop Telecom, Videocon Telecommunications and S Tel Ltd. The auditor said that Swan Telecom, which has since been partly acquired by the UAE's Etisalat , was given licences even though a unit of No. 2 telecoms firm Reliance Communications held over 10% of equity, a violation of rules.
It is still to early to know whether any licenses would be canceled, but the pressure would be strong not to do so because operators have invested in networks and have subscribers.
Any big crackdown could send a wrong signal to investors.
But the government could ask operators to compensate for the potential revenue loss as highlighted by the auditor and may impose fines for not meeting separate rollout obligations.
The auditor also named nine other operators, including market leaders Bharti Airtel , Reliance Comm and Vodafone , who were allotted spectrum beyond the contracted limit without paying any upfront charges, costing the government a potential $8 billion.
WHAT DOES IT MEAN FOR TELECOM MARKET?
If the government imposes heavy fines on new licensees singled out in the auditor's report, it would weaken them further. The newer operators are yet to make profit as they offer heavy discounts to grab subscribers, and any financial penalty would be a blow for them, forcing some to leave the market.
Some operators may also freeze network expansion until clarity emerges on the regulatory front, meaning slower growth for network equipment vendors and other service providers.
In case licenses are canceled, it would lead to natural consolidation in the crowded 15-player market.
WILL THIS AFFECT FDI INTO INDIA?
The country's mobile phone market is the world's fastest-growing and its nearly 700 million users trail only China, making it a must-invest market for any major global operator. But regulatory uncertainties have been a concern for some and could make foreign companies start to look more carefully where to invest.
Any penalty or adverse regulatory action could also weigh on companies such as Telenor and Etisalat, which were not part of their respective domestic ventures when the licences were distributed. Also, the controversy would make future investors more careful before they decide to invest in the market.
Vodafone, the single-biggest foreign investor of the nation, is fighting a $2.5 billion tax bill over its acquisition of a mobile firm in the country and has signalled frustration with the regulations.
explain himself to the Supreme Court. Opposition parties want a full parliamentary probe and have blocked proceedings until the government relents. So, what is the controversy all about and what does it mean for the telecom sector and companies?
WHERE WAS THE ALLEGED SCAM?
In 2008, the country issued 122 new telecom licences and the second-generation radio spectrum bundled with it to several domestic companies that had little or no experience in the telecom sector, and at a price set in 2001.
The state auditor said that the allocation process did not reflect the correct value of radio spectrum as there was no auction and the entire process was flawed, benefiting selected companies.
The auditor said that the telecoms ministry did not do the requisite due diligence, granting 85 out of the 122 licences to ineligible applicants.
The auditor also said the ministry did not follow its own guidelines, changed the cut-off date for applications, which gave "unfair advantage" to some companies over others. It said that the entire process "lacked transparency and was undertaken in an arbitrary, unfair and inequitable manner".
The auditor said that several companies deliberately suppressed facts, disclosed incomplete information, submitted fictitious documents and used fraudulent means to get licenses and thereby access to spectrum.
WILL COMPANIES LOSE LICENSES?
The auditor said that units of Unitech Ltd, which received licences in 2008 and now operates services in a joint venture with Norway's Telenor, had not fulfilled eligibility conditions including required share capital.
Other firms which were ineligible according to the auditor include Loop Telecom, Videocon Telecommunications and S Tel Ltd. The auditor said that Swan Telecom, which has since been partly acquired by the UAE's Etisalat , was given licences even though a unit of No. 2 telecoms firm Reliance Communications held over 10% of equity, a violation of rules.
It is still to early to know whether any licenses would be canceled, but the pressure would be strong not to do so because operators have invested in networks and have subscribers.
Any big crackdown could send a wrong signal to investors.
But the government could ask operators to compensate for the potential revenue loss as highlighted by the auditor and may impose fines for not meeting separate rollout obligations.
The auditor also named nine other operators, including market leaders Bharti Airtel , Reliance Comm and Vodafone , who were allotted spectrum beyond the contracted limit without paying any upfront charges, costing the government a potential $8 billion.
WHAT DOES IT MEAN FOR TELECOM MARKET?
If the government imposes heavy fines on new licensees singled out in the auditor's report, it would weaken them further. The newer operators are yet to make profit as they offer heavy discounts to grab subscribers, and any financial penalty would be a blow for them, forcing some to leave the market.
Some operators may also freeze network expansion until clarity emerges on the regulatory front, meaning slower growth for network equipment vendors and other service providers.
In case licenses are canceled, it would lead to natural consolidation in the crowded 15-player market.
WILL THIS AFFECT FDI INTO INDIA?
The country's mobile phone market is the world's fastest-growing and its nearly 700 million users trail only China, making it a must-invest market for any major global operator. But regulatory uncertainties have been a concern for some and could make foreign companies start to look more carefully where to invest.
Any penalty or adverse regulatory action could also weigh on companies such as Telenor and Etisalat, which were not part of their respective domestic ventures when the licences were distributed. Also, the controversy would make future investors more careful before they decide to invest in the market.
Vodafone, the single-biggest foreign investor of the nation, is fighting a $2.5 billion tax bill over its acquisition of a mobile firm in the country and has signalled frustration with the regulations.
India plans Asian tidal power first
The Indian state of Gujarat is planning to host Asia's first commercial-scale tidal power station.
The company Atlantis Resources is to install a 50MW tidal farm in the Gulf of Kutch on India's west coast, with construction starting early in 2012.
The facility could be expanded to deliver more than 200MW.
The biggest operating tidal station in the world, La Rance in France, generates 240MW, while South Korea is planning several large facilities.
To claim the title of "Asia's first", the Indian project will have to outrun developments at Sihwa Lake, a South Korean tidal barrage under construction on the country's west coast.Atlantis's recent feasibility study in Gujarat concluded that the state had good potential for tidal exploitation.
"About two and a half years ago we ran a global study of tidal power resources and came up with some hotspots where resource seemed pretty well matched to load," said Atlantis CEO Tim Cornelius.
"One of them was the Gulf of Kutch - and since then we've had wonderful support from the government, culminating in the announcement that the project was going ahead," he told BBC News.
Projections indicate that the cost of the initial 50MW farm - to consist of 50 1MW turbines - will come in at about $150m.
As much of the manufacturing as possible will take place in Gujarat, taking advantage of the skills base in India's booming wind turbine industry.
Tide turning? The current timescale has the project's final engineering plans completed by the end of this year, with construction commencing early next year and completing by 2013.
"Gujarat has significant resource in the waters of its coast, so tidal energy represents a huge opportunity for us," said DJ Pandian, chairman and managing director of Gujarat Power Corporation.
"This project will be India's and indeed Asia's first at commercial scale, and will deliver important economic and environmental benefits for the region, as well as paving the way for similar developments within Gujarat."
Tidal power is a tiny contributor to global electricity generation, even compared with other renewables.
But there is a feeling in the industry that a phase of fast expansion is beginning.
In October, a consortium including Atlantis was given the right to develop a tidal farm involving about 400 turbines in the Pentland Firth in Scotland, which as things stand would be the world's biggest - although South Korea's proposed Incheon barrage would come in at over 1GW.
China, and other parts of India, are also seen as productive areas in the near future.
Saturday, January 8, 2011
IPL 4 Auctions - team wise bidding results
The auction for the IPL 4 2011 has been started in ITC Gardenia in Bangalore on Saturday, Jan 8. The auction will go for two days (Jan 8 and Jan 9). The auction has been broadcasted Set Max live. Here is the team wise bidding details -
Kings XI Punjab- Adam Gilchrist - Rs 4.14 cr ($900,000)
- Dinesh Karthik - Rs 4.14 cr
- David Hussey - Rs 6.44 cr
- Abhisek Nayar - Rs 3.68 cr
- Stuart Broad - Rs 1.84 cr
- Ross Taylor - Rs 4.6 cr ($1 million)
- Rahul Dravid - Rs 2.3 cr ($500,000)
- Johan Botha - Rs 4.37 cr ($950,000)
Team Kochi
- Mahela Jayawardene - Rs 6.75 cr ($1.5 million)
- VVS Laxman - Rs 1.84 cr ($400,000)
- Brendon McCullum - Rs 2.18 cr ($475,000)
- S Sreesanth - Rs 4.14 cr ($900,000)
- RP Singh - Rs 2.3 cr ($500,000)
- Parthiv Patel - Rs 1.33 cr
- Ravindra Jadeja - Rs 4.37 cr
- Steven Smith - Rs 92 lakh
Kolkata Knight Riders
- Gautam Gambhir - Rs 11.04 cr ($2.4 million)
- Yusuf Pathan - Rs 9.66 cr ($2.1 million)
- Jacques Kallis - Rs 5.06 cr ($1.1 million)
- Brad Haddin - Rs 1.49 cr
- Shakib al Hasan - Rs 1.95 cr
- Rohit Sharma - Rs 9.2 cr ($2 million)
- Andrew Symonds - Rs 3.91 cr ($850,000)
- David Jacob - Rs 87.4 lakh
- James Franklin - Rs 46 lakh
- Irfan Pathan - Rs 8.74 cr ($1.9 million)
- David Warner - Rs 3.4 cr
- Naman Ojha - Rs 1.24 cr
- James Hopes - Rs 1.61 cr
- Wridhiman Saha - Rs 46 Lakh
- Dwayne Bravo - Rs 92 lakh
- Yuvraj Singh - Rs 8.2 cr ($1.8million)
- Graeme Smith - Rs 2.3 cr ($500,000)
- Robin Uthappa - Rs 9.66 cr ($2.1 million)
- Tim Paine - Rs 1.24 cr
- Dilshan Tillakaratne - Rs 2.99 crore ($650,000)
- Zaheer Khan - Rs 4.14 crore ($900,000)
- AB de Villiers - Rs 5.06 cr ($1.1 million)
- Daniel Vettori - Rs 2.53 cr ($550,000)
- Saurabh Tiwary - Rs 7.36 cr
Decan Chargers
- Kevin Pietersen - Rs 2.99 cr ($650,000)
- Cameron White - Rs 5.06 cr ($1.1 million)
- Kumar Sangakkara - Rs 3.22 cr ($700,000)
- Shikhar Dhawan - Rs 1.38 cr ($300000)
- J P Duminy - Rs 1.38 cr ($300000)
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