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devices originally founded in Jena in 1846 by Carl Zeiss,

S R LUTHRA INSTITUTE OF MANAGEMENT


Ernst Abbe and Otto Schott.

MERGER of thoughts INDIA


Sep08
• The Geological Survey of India (GSI) has established
a ‘core library’ of minerals at Akwali village in
BUSINESS FACTS Jhunjhunu district of Rajasthan to systematically

• Yasuo Hamanaka was the chief copper trader at •


Sumitomo Corporation and was also known as “Mr.

Copper” because of his aggressive trading style and “Mr
Five Percent” because that is how much of the world’s •
yearly supply he controlled. He was convicted of fraud and
sentenced to 8 years of imprisonment in 1996, when •
Sumitomo incurred a loss of 1.8billion dollars in
unauthorised copper trading through London Metal •
Exchange.

• Fanta was created by German branch of Coco cola


during the WW II due to restrictions on shipping between
Germany and the US. German bottling plant could not get
Coca cola syrup. CEO Max Keith needed a product to keep
the plant in operation and devised a fruit flavoured drink • Preserve the samples and obviate the need to re-drill
made from the available ingredients. the areas which have already been explored.

• Prize Petroleum is Hindustan Petroleum • The former Chief-Justice of India, Yeshwant Vishnu
Corporation’s oil exploration arm. Chandrachud, passed away recently. He was in the

• Surface cleaning brands; DABUR: Dazzl, Reckitt majority bench that decided in favour of Indira Gandhi
Benckiser: Harpic, Lizol, Colin and Easy Off Bang; Government in a landmark ‘Habeas Corpus case’.
Hindustan Unilever: Domex.
• The Gujarat freedom of religion act providing for
• US based advertising agency WIEDEN+Kennedy stringent punishment in cases of religious conversions
(W+K) coined the punchline ‘Just Do It’. through force, lure or deceit has come into force.

• Leading brands in Perfetti Van Melle’s portfolio • The Union Cabinet approved the renaming of
include the flagship Alpenliebe, Mentos, Center Fresh, Lucknow Airport as Chaudhary Charan Singh
Big Babol, Happydent White and Clormint. Airport by way of paying tributes to the former Prime
Minister.
• Lemon Tree Hotel Company owns the brands-
Lemon Tree and Red Fox. Lemon Tree is a four star hotel • India’s first bullet proof passenger train- the
brand and Red Fox is a budget hotel chain. Lumding-haflong train was introduced by North East
Frontier Railway for its journey in the troubled-torn
• Madura garments has a brand for youth called hilly terrain of North Cachar hills district of Assam.
Allen Solly Young.
• Observing that content of the advertisement of AXE
• Peter Drucker’s first book – ‘Concept of the Dark Temptation deodorant, currently being aired, is
Corporation’ was a study of General Motors. ‘indecent and vulgar’, the Ministry of Information and
broadcasting has requested the Indian broadcasting
• The Carl Zeiss Company is a German manufacturer foundation to advise its member channels to avoid
of optical systems, industrial measurements and medical broadcasting it to avoid punitive action.
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• The Union Government has decided to allow private
sector managed provident fund and superannuation
Titbits
trusts to directly invest up to 15 percent of their investible
funds in shares of companies on the BSE or NSE from
• The Axe body spray brand was launched in
April1, 2009.
France in 1983 by Faberge which became a part
of the Unilever Group in 1989. • The Manmohan Singh cabinet has cleared a proposal
to invest Rs 200 crore on exploration of uranium to
• The first volume of the Oxford English
increase fuel supplies to atomic energy generation stations.
Dictionary was published in 1884 in England.
This would add another 75,000 tonne of uranium resources
WORLD to the country’s nuclear power programme.

• Harry Potter’s author J K Rowling earned more than any • India is ranked 41st in industrial competitiveness,
other celebrity, accounting to the annual Celebrity 100 faring poorer than Thailand, Malta and Malaysia, a United
list, complied by Forbes magazine. Rowling took home Nations Industrial Development Organisation (UNIDO)
$300 million last year. report said. Singapore tops the UNIDO list followed by
Ireland, Switzerland, Japan and Belgium.
• Jaipal Reddy, a 39-year old immigrant from Hyderabad,
has set up “Salaam Namaste” radio station in Houston
• The age-old post office is set for a makeover. The
to help build a bridge between Pakistanis and Indians
global consultant MsKinsey & Co has been engaged to
kept apart by old animosities.
suggest revamp measures. The government has also
appointed ad agency Ogilvy and Mather (O&M) for a
• Indian-origin Judge Navanetham Pillay has been named
branding exercise.
the United Nations’ new Human Rights Commisioner.
• Economic Briefing Paper: ‘Modelling Olympics
• The 15th SAARC Summit organised at the Sri
Performance’ a report by management consultancy
Lankan capital of Colombo on August 2-3 has adopted
PricewaterhouseCoopers, had forecast a medals tally of
Colombo Declaration, titled “Partnership for growth of
six for India at Beijing Olympics.
our people”. The declaration dwelt at length on terrorism
and issues such as trade promotion and measures to face
• Ginger Hotels no-frills hotel brand owned by Root
the challenges posed by climate change.
Corporation (wholly owned subsidiary of Indian Hotels
Company), would invest Rs 100 crore to add six new
• Dr.Arvind Subramaniam, a Senior Research Fellow
hotels in 2008, Ginger Hotels opened its first New Delhi
of the Peterson Institute for International Affairs in
property in collaboration with IRCTC as Ginger Rail
Washington DC, has published ‘India’s Turn’, a thought-
Yatri Niwas.
provoking book on India’s macroeconomic developments.
The book deals with the transformation of India from a
• Godrej–Hershey Foods and Beverages, the JV set up to
sleepy giant in the first three decades since Independence
jointly market confectionery, snacks and beverages in
to its present rate of growth since 1991.
India, is planning a relaunch of one of its brands Nutrine,
for which it has signed a multi-crore endorsement deal
with India ODI captain MS Dhoni. In addition to Nutrine,
ECONOMY AND BUSINESS other brands in the Godrej Hershey’s portfolio include
• Dr C.Rangarajan, former governor of the Reserve beverages Jumpin, XS and Sofit, Milk mix and Godrej
Bank of India and erstwhile Chairman of the Prime Tea, among others.
Minister’s Economic Advisor Council, has been
nominated as member of Rajya Sabha.
Indian Investors of Morgan MF are safe
• Accenture and the Indira Gandhi National Open
Morgan Stanley is presently managing 2 funds. The
University (IGNOU) will jointly develop a diploma
major one being a close ended equity diversified fund
programme designed to help grow the outsourcing industry
launched in ’94 and the other and open ended diversified
by providing comprehensive training and career
equity fund. The decision of MS to convert itself from an
opportunities in business process outsourcing (BPO).
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investment bank to a retail bank has led Indian investors to Phelps was diagnosed with ADHD when he was 9
think that things are not going well at the organisation. years old. He used a combination of medication and
Although the company is yet to formally announce the impact behavioural therapy. He was so hyperactive that he never
on its various operations, industry sources say that this used to keep his mouth shut and was constantly asking
decision will give stability to the company and since the questions of jumping from one place to another. The reason
Indian AMC is registered in India and regulated by SEBI, Phelps did not get tired was because his body did not produce
investors need not worry. enough Lactic acid which is the main reason for tiredness
among athletes. Michael Phelps revealed that his mother made
TAGLINES OR TEASERS! him learn to swim so that he would not drown while on a
holiday and it was later on that he got involved in competition.
With communication changing drastically and
His childhood bullying was a major thrust for his success.
chatting becoming an important part of our day, it is not
Kids used to pick on him and torment him. There was a time
surprising that most of us pay attention to the tiniest of the
when his baseball hat was thrown out of the window and
details like- What would be our Tagline of the day!?!
almost all the time his teachers used to doubt on his abilities,
Some people do it to let friends and acquaintances going to the extent that once his teacher told him that he won’t
know about the latest updates in their lives, some just to make ever be successful. And every time someone said that, he
people smile and kill the stress arising out of hectic lifestyles, worked even harder to prove them wrong and achieve
some as indicators of their moods i.e.: Pleasure, Anger, Panic- something none has ever done. According to Phelps,
stricken, Relaxed etc., some to express things that cannot be swimming helped him focus and stay on track and overcame –
expressed explicitly and some make it into a game. Attention Deficit Hyperactivity and this grew out of it.

Boss: Accidental genius @ work. SWAMI VIVEKANANDA

Super Boss: Self-proclaimed genius @ work. We are responsible for what we are, and whatever
we wish ourselves to be, we have the power to make
Subordinate of ‘Boss’: I am @ work. ourselves. If what we are now has been the result of our own
past actions, it certainly follows that whatever we wish to be
So friends next time you write a tagline, be sure why in future can be produced by our present actions; so we have
exactly you want to put it up!!! to know how to act.

“PROJECT ARYAVARTA” LEE IACOCCA

Project Aryavarta is an economical and energy Apply yourself. Get all the educations you can, but then, by
efficient space launch vehicle for inter-planetary space God, do something. Don’t just stand there, make it happen.
missions using ion and solar electromagnetic propulsion, a
technique which has been used for the first time. It uses solar Quick Facts about Currency Futures Trading on NSE
energy to cut down on fuel consumption and will help propel a
satellite from on orbit to another using minimal energy. After having successfully completed mock testing,
NSE braced itself to launch much eagerly anticipated currency
It will also execute multiple tasks without having to futures trading in India. Mr. P. Chidambaram, Honourable
launch new satellites for various missions. And by making it Union Finance Minister inaugurated currency futures trading
possible to rectify or modify part of a satellite, Aryavarta will at 8.45 am on 29th August 2008 on NSE, India’s largest stock
also enhance the life span of a satellite thereby cutting down exchange. NSE will go in the history of the currency futures
on space debris. This project is Rushi Ghadiwala’s trading as the first exchange in India to start foreign currency
(Aeronautical engineering student,Sardar Vallabhbhai Patel futures in India.
Institute of Technology,Vasad) dream project designed under
guidance from none other than former President APJ Abdul Currency future is a standardized futures contract like
Kalam. Rushi is the project director of the mission; has a team any other stock and commodity futures contract with currency
of 15 other scientists from across the world and have designed as the underlying instrument. Essentially, it is a contract or an
the project in just 2 and half years. agreement to buy or sell any currency at a specified future date
viz. contract expiry date. As the contracts are traded on
Secret of Michael Phelps’s success recognized exchanges, the performance guarantee is assured
by the exchange.
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Here is a quick guide on currency futures trading on NSE: 1 India has 10 of the 30 fastest-growing cities in the world. -
International Herald Tribune
Exchange Timing: 9.00 am to 5.00 pm.
2 The Russian city of Sochi, site of the 2014 Winter Olympics,
Currency Pairs: Initially only USD/INR currency pair would is located 24km from Abkhazia - a Georgian province invaded
be available. Subsequently NSE may introduce other currency by Russia last month. - Washington Post
pairs based on the statutory guidelines and approvals from
RBI and SEBI. 3 Half of the 750 million sub-Saharan Africans live on less
than $1 (R7.70) a day. - The Economist
Contract Size: Size is set at 1000$ per lot (contract).
4 Archeological records say early homo sapiens were fishing
Contract Maturity: The currency futures contracts would be the waters of Lake Turkana in Kenya about 50 000 years ago.
available for maturity period from one month to 12 months - Lonely Planet
period. (total 12 monthly contracts)
5 The average US car is parked for more than 20 hours a day. -
Quote: Currency futures would be quoted in INR with a tick Booz Allen Hamilton.
size (incremental value) of 0.25 Paisa.
6 Sanyo has developed a waterless washer that instead uses
Margins: NSE would stipulate initial margin and maintenance high-powered air, or ozone, to wash clothes. - Wall Street
margins as per its existing practice of levying SPAN Journal
(Standardized Portfolio Analysis of risks) margins based on
the daily volatility in the foreign exchange currency markets. 7 With about 20 million residents, Sao Paulo is South
America's largest city. - UN Population Division
MTM (Mark to Market): Like stock and commodity futures,
currency futures would involve daily MTM (mark to market) 8 The US population grows at a rate of one person every 11
margins. MTM would be worked out on the basis of daily seconds. - US Census Bureau
closing prices of currency futures as declared by NSE.
Settlement of MTM would take place on T +1 basis as is
presently done in equity derivatives segment. NSE has laid out
9 For much of geological time a land bridge linked Britain to
suitable mechanisms to pay in/pay out daily MTM margins
the rest of Europe. - Financial Times
from the brokers. NSCCL (National Securities Clearing
Corporation Limited) would be responsible for the entire 10 The last vestiges of land between Britain and France were
clearing, settlement and risk management functions. finally submerged about 7000 years ago. - Financial Times.
Settlement Price: Final settlement price of the currency future
contract would be decided as per the exchange rate fixed by
RBI on the last trading day of the contract. Settlement would Very well said:
take place in cash in terms of INR.
Being ignorant is not so much a shame as being
Position Limits: Upper limit on maximum permissible open
unwilling to learn.
position has been capped at 25 million dollar.
Benjamin Franklin.
Permissibility: Initially only resident Indians are allowed to
trade in currency futures. It is expected that as the market
Sources:
matures, other participants viz. NRI and FII would also be
allowed to trade in currency futures. Times of India, Surat Edition, September’ 08.

Miscellaneous: Other vital issues such as taxation aspects on http://www.busrep.co.za/index.php?


the profit and loss, STT (Securities Transactions Tax), fSectionId=2515&fArticleId=4587419
brokerage charges and other duties such as stamp duty are not
yet clear. http://financialtraining.in/currencyfutures/quick-facts-about-
currency-futures-trading-on-nse/
A collection of facts by The Globalist
Prep-talk September ’08.

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Edited and Complied by :

Hiral Randeri, Jiten Panchal, Khushboo Lakdawala, Nidhi


Shukla, Srikant Prabhu.

BIRTHDAYS IN OCTOBER

RAVI: 5th, HUSAIN- NAILESH: 8th

MADHUKRITI: 10th, KHUSHBOO: 12th

SUDHIR- 19th, VIPUL: 22th,

NIRALI-HEMALI: 25th, SNEHAL: 28th