Providing infants with nutritious food is long-term economic investment

Scientists for the first time have come out with direct evidence that providing infants and very young children with healthy, nutritious food is a long-term economic investment for developing countries both in terms of human resources and a healthy society.

The authors of the study said in a teleconferencing from Washington DC, last night, that the study in Guatemala is the first to show direct evidence of the effects of early childhood nutrition programs on adult economic productivity and incomes. snows

The results of the study 'The Impact of Nutrition during Early Childhood on Income, Hours Worked, and Wages of Guatemalan Adults' carried out by John Hoddinott, John A. Maluccio, Jere R. Behrman, Rafael Flores, and Reynaldo Martorell are to published in tomorrow's issue of medical journal 'Lancet'.

"Although substantial, but indirect, evidence from previous research suggests that providing infants and very young children with healthy, nutritious food is a long-term economic investment for developing countries, this is the first direct evidence based on a result-oriented study," according to the study

The researches were conducted on four rural communities from Guatemala villages and they were given vegetable protein mixture with micronutrients, the scientists said, adding the African countries can use the study in their health policies.

The research was conducted in Guatemala by Emory University, the International Food Policy Research Institute (IFPRI), the Institute of Nutrition of Central America and Panama (INCAP), the University of Pennsylvania, and Middlebury College.

Investments in early childhood nutrition can be long-term drivers of growth and a wise economic investment and the findings from the study show that improving nutrition in early childhood leads to significant increases in wage rates for men.

The authors said that the past research has demonstrated that the first two years of life are the "window of opportunity" when nutrition interventions have the greatest benefits for a child's health, growth, and development.

This study confirms that improving nutrition in early childhood also leads to healthier and more productive adults, bringing economic returns to both individuals and societies.

From 1969-1977, four rural communities in Guatemala participated in a food supplementation study, in which children received one of the two supplements fortified equally with micro nutrients. The first supplement was high in protein and energy; the second contained no protein and was low in energy, said the lead author Hoddinott.

The program enrolled all children and infants who were under seven years of age when the program was launched in 1969. Babies born during the study period were also included.

Children and infants continued to participate in the program until they were seven years old or until the study ended in 1977, whichever came first. Thus, the participating children were exposed to the supplement.

In 2002-2004, researchers returned to Guatemala to collect follow-up data and interview adults who had participated in the nutrition program as children.

Nearly 2,400 individuals were involved in the original study. At the time of follow-up, they were 25-42 years old. About 78 per cent of the individuals were alive and living in Guatemala; 11 percent had died; 7 per cent had left the country; and 4 per cent were untraceable, a IFPRI release said.

During the follow-up study, researchers collected economic data, including information about income-generating activities, from approximately 1,425 Guatemalans, or 60 per cent of the adults who were enrolled in the original program.

Researchers then calculated annual earned income, hours worked, and hourly wage rates for each adult. Respondents who were not engaged in economic activities or participating in the labour market were excluded from the analysis.

Boys who received the high-energy, high-protein supplement in the first two years of life earned on average 46 per cent higher wages as adults. Boys who received supplement in their first three years earned 37 percent higher wages on average.

However, those who first received the supplement after age three did not get any economic benefits as adults and consumption of supplement in childhood did not have an effect on women's income, probably because of gender differences in labour force participation and work activities.

In Guatemala, participation in the formal labour market is significantly lower for women than for men. However, first analysis suggests that schooling increased for women who had consumed supplement, and that reading comprehension increased significantly for both men and women.

Apples 'can reduce the risk of Alzheimer's'

An apple a day can keep the Alzheimer's away. A new study has found that the popular fruit contains protective antioxidants which help in reducing the risk of dementia in people.

According to the study by researchers in the United States, not only apples, other fruits like oranges and bananas are important sources of vitamins, minerals and fibre which protect against neurodegenerative diseases like Alzheimer's. The researchers at the Cornell University came to the conclusion after investigating the effects of apple, banana, and orange extracts on neuron cells.

They found that the phenolic phytochemicals of the fruits prevented neurotoxicity on the cells. Among the three fruits, apples contained the highest content of protective antioxidants, followed by bananas then oranges. "Our study demonstrated that antioxidants in the major fresh fruits consumed in the United States and Korea protected neuronal cells from oxidative stress.

"Additional consumption of fresh fruits such as apple, banana, and orange may be beneficial to improve effects in neurodegenerative diseases such as Alzheimer's," the researchers wrote in the 'Journal of Food Science'.

The study came just days after British scientists discovered the key to reversing the effects of dementia. The researchers at the University of Sunderland found that regular exposure to safe low-level, infra-red light could turn back the brain's biological clock and reverse the effects of memory loss.

In fact, their study showed that the treatment could improve learning performance and also kick-start the cognitive function of the brain, particularly in those suffering from gradual memory loss.

Fizzy drinks linked to gout

Men who consume large amounts of fizzy or sugary drinks are at higher risk of contracting gout than those who abstain, a new study has concluded.

Researchers from Harvard and the University of Vancouver found that those who consumed five or six sweet beverages a week were nearly 30% more likely to suffer attacks of the illness than those who drank less than one serving monthly. The risk rose to 85% for those drinking two or more a day.

As well as sugar in drinks, the study found that natural fruit sugar, or fructose, posed a substantial risk for gout.

That means people who drank orange or apple juice or even ate those fruit regularly were prone to the illness. Meanwhile, diet soft drinks, which often contain sweetener rather than fructose, were not found to be associated with gout.

"The risk of gout was about twice as high among men in the highest fifth of free fructose consumption than among men in the lowest fifth… the current study provides prospective evidence that fructose and fructose-rich foods are important risk factors in the primary prevention of gout in men."

Hyon K Choi and Gary Curham surveyed over 46,000 male medical professionals aged 45-70 with no history of the illness over a period of 12 years, as part of a wider study into diet and general health. A total of 755 reported incidents of the condition. The link between gout and sugary drinks and fructose remained even when accounting for age, alcohol consumption, body mass and high blood pressure.

Gout is caused by a build-up of uric acid in the bloodstream and can cause joint swelling, inflammation and acute pain in the extremities. Uric acid is produced by the kidneys and digestive system from purines, which normally occur in rich food, meat and beer. Women are less likely to suffer from the condition.

Fructose is often used as a substitute for sugar, especially in high-fructose corn syrup, which is cheaper than cane sugar. It is a common ingredient in fizzy drinks. The risk is such that researchers caution that patients who switch from purine-rich food to improve their gout could in fact make it worse if they start eating large amounts of fructose.

The study is published in the latest edition of the British Medical Journal.

Girls with big breasts are more prone to diabetes

Toronto: Girls with big breasts have a 68 percent higher chance of developing diabetes by middle age than their small-breasted counterparts, according to a new study by Canadian scientists.

The decade-long study to find the link between big breasts and diabetes development among nurses in the US shows that those with bigger breasts at the age of 20 are at a higher risk of developing the disease in later years.

Joel Ray, professor of medicine at the University of Toronto and a clinician-scientist at the local St Michael's Hospital, said this was "the broad conclusion" of his research team on the basis on this study.

"Our findings are based on data from the Nurses Health Study II project in 14 American states. In a nutshell, 92,102 nurses were studied for link between their breast size and their chances of developing diabetes by the age of 35. The bigger their breasts are at the age of 20, the bigger their chances of developing diabetes," Ray said.

However, Ray was quick to add that the breast size could be one of the factors, apart from smoking, family history, diet and ethnicity that trigger diabetes in women.

"Obesity remains a big factor. Obese women tend to have larger breasts, thereby becoming more prone to diabetes," he said.

From these findings, he said, it will be interesting to study how breast fat influences insulin resistance.

Ray emphasised that their research was preliminary at this stage and should not be taken at its face value.

Women should not think about breast surgeries to minimise their chances of developing diabetes.

"It is an interesting possibility that needs to be studied before we can say anything," he said.

During the study, he said, it was found that nurses with a family history of diabetes or those who smoked were more prone to developing the disease.

"Out of 92,102 nurses in the decade-long study, 1,844 developed diabetes."

The study, published in the Canadian Medical Association Journal, also showed that big-breasted nurses reported being heavier than others at young ages of five and 10, and entering puberty earlier. Ray said there is a definite link between early puberty among fat girls, insulin resistance and their predisposition to diabetes.

Breast tissue is extremely sensitive to hormones. Since insulin is a hormone, there is resistance to it by breast tissue, he said. A bigger breast means more insulin resistance and more chances of diabetes.

Ray said he was not sure how important these findings were for Indian and South Asian women.

"Since this study was conducted on mostly white women, I won't say how significant it is for Indian and South Asia women. Diabetes in India is becoming rampant because of genetic and other reasons," he said.

Actress Eva Mendes is getting "professional support" for some "personal issues," her rep said Friday on the heels of a report saying she's in rehab battling a substance abuse problem.

"Eva has been working hard for the past year and made a positive decision to take some much-needed time off to proactively attend to some personal issues that, while not critical, she felt deserved some outside professional support," her rep told FOXNews.com.

"Out of respect for Eva's privacy, we do not wish to discuss further details," the rep added.

The "Ghost Rider" star, 33, has spent several weeks at Cirque Lodge in Utah, where Lindsay Lohan was recently treated, TMZ.com reported.

Mendes was just named "Sexiest Actress" of 2008 by Victoria's Secret, and Calvin Klein announced Friday that she will be featured in an upcoming Calvin Klein Fragrances advertising campaign, which will debut Fall 2008.

RealPlayer Labeled As 'Badware'

Two versions of RealNetworks' RealPlayer media software have been designed "badware" by StopBadware.org, an organization opposed to abusive software.

"Badware" describes software that fails to respect user choice. Malware, deceptive adware, and spyware qualify as badware, though those terms imply an illegal or unconscionable level of deception on the part of the software creator. This is arguably distinct from the white lies and exaggerations that are the mainstay of marketing.

StopBadware claims that RealPlayer version 10.5 inadequately discloses "advertising behaviors" and that RealPlayer version 11, the most current version of the software, installs an additional application, the Rhapsody Player Engine, without clearly notifying the user.

Maxim Weinstein, manager of StopBadWare, said that RealNetworks' software came to the group's attention because of a user's complaint. He said the user visited a Web site, saw a notice that he needed a plug-in to view some content, and then agreed to install the plug-in. What the user got, he said, was full version of RealPlayer 10.5. "Within a few minutes, there were ads popping up from his system tray," Weinstein said.

"The advertising software bundled with RealPlayer is misleadingly called a 'message center,' and is described incompletely and inconspicuously in the EULA [End User License Agreement] as software designed to provide useful software updates," StopBadware says in a statement issued Thursday. "When RealPlayer 10.5 is installed, the advertising features of this 'message center' are enabled by default for users who choose not to register their personal information with RealNetworks after the software is installed."

The group also objects to RealPlayer 11 for failing to disclose that it's installing the Rhapsody Player Engine and for failing to remove it when the user uninstalls RealPlayer 11.

A spokesman for RealNetworks disagreed with the group's assessment of the company's software.

"We're really transparent about what we're installing on someone's machine," he said. At the same time, he noted that RealPlayer 11 addresses some of the issues StopBadware has with RealPlayer 10.5 because it requires the user to opt-in to advertising rather than opt-out. He also said that RealPlayer 11's failure to uninstall the Rhapsody Player Engine will be addressed in a future update.

Labeling RealNetworks' software as badware may prove to be little more than a public relations challenge for the company. The designation appears unlikely to lead to any sort of blacklisting or blocking of RealPlayer. Weinstein said he didn't know of any computer security company that used the organization's findings to inform its products.

"A big part of our motivation is to really encourage software producers to really, actively inform users of the effects of the decisions they make when installing their software," he said.

StopBadware is backed by Harvard and Oxford universities, as well as Google, Lenovo, PayPal, and VeriSign.

Get Eee PC for Rs.18,000

Mumbai: ASUS, the leading technology brand, today announced the launch of the revolutionary ASUS Eee PC 4G model in India.

Aptly titled the ASUS Eee PC, the product aims at changing the way computing is perceived by user segments like school children, housewives, senior citizens, teenagers etc. who enjoy simple computing with a lightweight gadget like the ASUS Eee PC which is not only very convenient to carry around, but also very trendy.

The other models of the ASUS Eee PC are also expected in India soon. The ASUS Eee PC has been a phenomenon the world over.

This level of interest was also generated in the India market which has a huge potential for such special concept technology products.

The ASUS Eee PC is a new line of PCs that focuses on providing users with the most comprehensive Internet application based on three Es: Easy to learn, work, play; Excellent Internet experience and Excellent mobile computing experience, and hence the product name of Eee PC.

ASUS has introduced the revolutionary Eee PC in the Mumbai market initially and it is available through major retailers like Croma and also through the company's network of channel partners.

The Eee PC will be available at an MRP of Rs. 18000/- only.

The first sale of the ASUS Eee PC will commence on the 2nd of February 2008, 5 p.m. onwards at select Croma outlets in Mumbai. The first 100 buyers will be entitled to an additional special gift.

The only shrieking Maria Sharapova wants to hear 10 years from now will be coming from her babies, with the newly-crowned Australian Open champion vowing to quit tennis before she hits 30.

The Russian queen of scream is just 20 years old but secured her third Grand Slam at Melbourne Park with a straight sets win over Ana Ivanovic.

US-based Sharapova said she had a deep love of the game but also wanted to have a family and would not stretch out her career for too long.

"No. Definitely not," she replied when asked if she would play on until 2018.

"I hope by that time I'll have a nice husband and a few kids."

Sharapova also ruled out making a comeback as a racquet-wielding tennis mum like Lindsay Davenport, who she beat in the second round on her way to claiming the Australian title.

"I don't think you'll see me back playing, take my word for it," she said.

Sharapova said she felt she had earned the rewards that tennis success had brought, giving her a sense of accomplishment that allowed her to hold her head high when branded a "spoiled brat".

"When I see other 20-year-olds that might be driving in their Range Rover I know that I worked for mine, I have that satisfaction," said the world number five, who picked up a 1.2 million US dollar winners at the Australian Open.

"Sometimes you get those dirty looks, where they're looking at you and thinking 'that spoiled brat, who is that, her father probably bought her a Range Rover'.

"Like 'no honey!' I bought that myself.

"In those moments you feel mature."

Sharapova said she had been forced to grow up quickly after winning Wimbledon as a teenager in 2004.

"Because I achieved success so early in my career by winning Wimbledon at 17, I think it just automatically makes you older because all of a sudden you're a Grand Slam champion," she said.

"You're expected to win more Grand Slams, you're expected to win every tournament you play and it makes you so much more mature."

She said the grind of being on the women's tour also had its downsides, including lengthy enforced separations for her parents Yuri, who accompanies her on tour, and mother Yelena, who is rarely seen at tennis tournaments.

"It's strange because my career, though amazing, has brought us a lot of downfalls," she said.

"My parents don't get to see each other very often. But those are the sacrifices that I and my family have to make. We've been through a much tougher process (than others) with not seeing my mum when I was younger."

Despite the talk of retirement, Sharapova said she retained her passion for tennis.

"To do something that you love to do and being good at it, there's no better gift," she said.

"When I step on the court, it's a place I love to be in and nothing will ever change that

"I forget about past matches, I just draw my attention to the things I want to work on, all those things, positive or negative, they just go away.

"There's a holiday break, Christmas-time, two great days off and then you're back on the court and it's like it never ended.

"When I go on there everything else is gone."

Environmental pollution may trigger diabetes, scientists suspect in the US.

In the commentary published in the recent edition of the Lancet, Cambridge scientists Oliver Jones and Julian Griffin highlight the need to research the possible link between certain pollutants and diabetes.

Past research had found individuals are more at risk of diabetes if they are thin with high levels of persistent organic pollutants (POPs) in their blood than if they are overweight but with low levels of POPs, scientists said.

POPs are chemicals that remain intact in the environment for long periods and are considered as toxic to humans and wildlife.

The POPs came into prominence as effective pesticides with the introduction of Dichloro-Diphenyl-Trichloroethane (DDT) one of the best-known synthetic pesticides in the 1940s.

However, many of these chemicals, including DDT, fell out of favour after they were blamed for the declining number of wild birds and other animals and the possible negative human health effects, according to a report posted in the Cambridge University website.

As the compounds biodegrade slowly, they continue to find their way into the food chain and ultimately into the blood streams of individuals even though many of these toxins were banned years ago.

Additionally, these compounds can persist in body fat for very long periods of time following exposure. It is well documented that significant exposure to POPs can cause negative health effects.

The US Environmental Protection Agency states that the pesticide Chlordane, for example, can cause cancer and can lead to behavioural disorders in children if exposed before birth or while nursing, and harms the endocrine system, nervous system, digestive system, and liver.

Honey ! I Shrunk the Sugar !!

WE are bombarded with so much health information every day, we can repeat it in our sleep. But most of this information goes into one ear and out of the other.

How many of us apply this knowledge to our lives? For example, we know sugar has nothing but empty calories but we cannot do without it in our daily lives. Most of us need a spoonful of sugar in our tea and coffee, and even if we can do without it, can you imagine eating a chocolate brownie or walnut muffin that doesn't have any sugar? You wouldn't eat it, would you? So what do you do? Trying to abstain from sugar unless you have a medical condition that forces it is futile.

What you can do instead, is replace sugar with natural substitutes like honey or jaggery. Both taste as good and are healthier than sugar.

Not only that, you can substitute sugar with them in almost everything. versatile honey Honey is a source of simple carbohydrates and is composed of two main sugars: levulose and dextrose.

These sugars do not need to be broken down by the digestive process so honey is quickly absorbed into the bloodstream, giving you a quick energy boost. Honey also contains protein, vitamins and minerals.

Honey is very versatile. You can put it in your tea, coffee, porridge or cereal.

You can pour it on your toast. You can use it while baking.

In fact, using honey instead of sugar during baking increases the shelf life of baked goods. Honey can also substitute sugar in desserts like kheer.

Mothers and grandmothers firmly believe in honey's healing properties. That is why those with persistent coughs have been made to swallow a concoction of honey and ginger to soothe the throat for years.

In the winter, many of you must remember your grandmothers urging you to eat almonds soaked in honey. 'It keeps you warm,' they used to say.

Having half a teaspoon of honey and lemon in lukewarm water first thing in the morning is also a good way to cleanse your system and prevent constipation. But grandmothers aren't the only ones to recognise honey's beneficial properties.

Recent studies have proved honey's beneficial nature especially as an antibacterial topical treatment for burns. This is because honey has osmotic properties.

That is, it tends to withdraw water. Water molecules react strongly with the sugars in honey, leaving very little water for microorganisms.

So, the bacteria that cause infection are literally dehydrated to death. "Besides all this, honey is high in carbohydrates and is therefore a great energy source.

It also contains the minerals calcium, copper, iron, magnesium, manganese, phosphorous, potassium, sodium and zinc required for various functions in the body," says Dr Kajal Pandya, nutrition consultant at Delhi's Sitaram Bhartia hospital. wrinkle warrior Honey also has antioxidant properties.

Antioxidants eliminate free radicals that are reactive compounds in the body. Free radicals are created through the normal process of metabolism and contribute to many serious diseases.

"Generally, darker honeys and those with higher water content have stronger antioxidant potential, which can help prevent degenerative diseases," says Sharon Arora, a dietician with G M Modi hospital. Scientists say the antioxidant properties of honey could help counter the effects of ageing and decrease anxiety too.

But like sugar, you have to watch how much honey you eat every day. "Although honey is a better option than normal white sugar, keep in mind that you must limit the intake of honey to 3-4 teaspoons a day.

And if you are overweight, any form of sugar whether white or brown or even honey is not good for you," cautions Charu Dua, head of department, dietetics and nutrition, Max Healthcare, Delhi. Honey is great beauty aid too.

"Honey is a natural humectant, which means it has the ability to attract and retain moisture. The skin's ability to stay moist is an important factor in its ability to maintain softness, suppleness and elasticity.

As skin ages, or as it is exposed to environmental stresses and chemical agents, it loses its ability to retain water; it becomes dry and appears wrinkled. Honey's natural hydrating properties make it ideal for use in moisturising products.

That's why honey, with its antioxidant properties, is used in most skin-tightening masks," explains beauty expert Bharti Taneja. sweet substitute You can also replace sugar with jaggery or gur, an unrefined form of sugar that is made from sugarcane.

Jaggery scores over sugar because it contains minerals and vitamins that are lost when sugarcane juice is processed further to make sugar. "Jaggery, being a wholesome sugar, is rich in vitally important mineral salts like magnesium, calcium, phosphorus, potassium and iron.

A teaspoon of jaggery delivers approximately 3-5 mg of calcium, 3-5 mg phosphorous, 6 mg magnesium, and 45 mg of potassium. Jaggery is very rich in iron, which prevents anaemia," explains Charu Dua.

Sugar, on the other hand, contains no minerals at all. Just like honey, jaggery can be taken in tea, in desserts like kheer and sandesh (made of date palm jaggery).

It can even be eaten on its own, especially in the winter since it tends to keep the body warm. Jaggery even aids in digestion.

WARMTH GENERATOR "Many of us are fond of eating jaggery mixed with dry fruits, ginger and fennel which, again, is excellent for digestion and even keeps one warm," says Arora. But she adds that jaggery's heat giving quality means you should not eat it in the summer.

Jaggery is not called the 'medicinal sugar' for nothing. "It helps to take jaggery when you have a dry cough, cough with sputum, indigestion or constipation.

Ancient medical scriptures also state how it purifies the blood and prevents rheumatic afflictions and disorders of the bile," adds Dr Pandya. Studies have shown that people who work in highly toxic surroundings (like industrial workers) but consume jaggery regularly show little or no lung discomfort.

Given that we live in pretty toxic cities, that should be reason enough to switch over.

Is this Winter Sending Chills Down Your Spine!!

Prepare for Cold Season!
The best natural protection from cold and flu is to keep your immune system going strong and to practice preventative measures. Wash your hands frequently with soap, and wash your face at least twice a day. Also, protect your upper back and neck area, because this is where most of the colds will attack the body. The activities listed below will help you build your immunity.

6 Simple Ways to Boost Your Immunity

1. Rest up.
Studies show that your immune system function drops by an average of 60% after just three nights of poor sleep, so be sure you are getting plenty of quality rest, at least eight hours each night.

2. Lessen your stress.
Keep your stress level low with meditation, tai chi or yoga.

3. Eat sweet potatoes and mushrooms.
These foods help optimize your body's immunity function. Sweet potatoes contain higher amounts of vitamin C (a famous immune support) and beta-carotene than carrots, as well as being rich in DHEA, a potent immunity booster. Certain types of mushrooms, like shitake, maitake and reishi, contain polysaccharides, sterols, coumarin, vitamins, minerals, and amino acids that increase your immune function.

4. Pick potent herbs.
Eat lots of potent herbs and spices, especially garlic, ginger, cilantro, and oregano.

5. Astralagus: the immunity super herb.
Astralagus has been used in Asia to prevent cold and flu for more than 2,000 years. This herb stimulates the body's production of interferon, which is a potent immune protein that boosts your ability to fight infections and diseases.

6. Keep your middle warm.
In Chinese medicine, the abdomen is considered the storehouse of the body's energy. Keeping your abdomen warm and protected from weather extremes has immense immune benefits. A good way to replenish your energy bank is to regularly place a hot water bottle on your abdomen. Also beneficial is applying abdominal wraps soaked in rejuvenating herbal solutions, or pouches containing similar herbs.

Natural Remedies and Relief for Cold and Flu
If it's too late to prepare, and you are already suffering from the runny nose, headache and fever of cold and flu, these recommendations can help you get you back on your feet in no time!

• At the first sign of a cold attack, drink scallion and ginger tea, and lots of liquids.

• Fasting or light eating is sometimes recommended when you have a cold, so as not to detract from the body's healing by having to digest heavy foods. In general, eat as little solid food as possible to avoid burdening the immune system, but drink plenty of warm fluids such as soups, porridges and tea.

• Get plenty of rest and don't engage in exercise. When you have a cold, exercise depletes the body of qi, the vital energy needed to fight pathogens.

• Taking up to 50 milligrams of zinc a day may help reduce the symptoms of the common cold.

• It is helpful to inhale eucalyptus, oregano, and lavender, which are antibacterial, antiviral, and decongesting.

• I often recommend to my patients our Cold and Flu Formula that contains natural herbs like honeysuckle flower, burdock root, apricot seed, mulberry root and others that support healthy immune function, and comfort cold and flu symptoms. This formula is available online at askdrmao.com.

I hope you use these suggestions in times of sickness and that they serve you well. I invite you to visit often and share your own personal health and longevity tips with me.

Top 20 rich Indians earn as much as 30 cr people

Top 20 rich Indians earn as much as 30 crore people in the country, former Reserve Bank Governor Bimal Jalan said on Friday, while launching the high-profile NGO Public Interest Foundation in New Delhi.

Pointing out that income disparities in the country have risen significantly, Jalan said the Foundation would endeavour to facilitate replication of best practices and success stories in social sector to the benefit of the deprived sections of the society.

The high-profile NGO, launched on the eve of 59th Republic Day, will have cabinet secretary Naresh Chandra, CII mentor Tarun Das and noted industrialist Suresh Neotia as members of the governing council, which will be headed by Jalan.

The other members of the governing council will include chairman of UTI Bank [Get Quote] Trust Arun Maira, advocate Shayamanand Jalan and industrialist Harshavardhan Neotia. Former chairman of Telecom Commission Anil Kumar will be the director of Foundation.

"It is very critical to address the gap to improve the efficiency of public delivery system and that is the aim of the Foundation," Jalan said while elaborating the objectives of the NGO.

The former RBI chief also underlined the need for introducing a system of fixing accountability for implementation of the welfare schemes of the government. He further said that the state governments should be given some freedom to modify the centrally sponsored schemes to suit local conditions. The Foundation, which will initially function for a period of three years, will run on interest of Rs 10 crore (Rs 100 million) provided by the Neotia Foundation.

A laptop for Rs 13,990 only

HCL Infosystems Ltd has bettered the affordable ultra-portable range by announcing its MiLeap range of laptops at prices starting from Rs 13,990. This launch comes hot on the heels of ACI’s announcement of a sub 20,000 ultra portable as well as its Rs 25,000 laptop for the budget buyers. Clearly the trend is on the rise.

MiLeap's lightweight form and small size makes it super convenient for lugging around. The MiLeap range features X as well as Y series. The X series is the ultra-portable range starting at Rs 13,990.

Available with both flash-based and disk based storage versions, its sturdy design incorporates features that make it dustproof, shockproof and durable. Both the models in the X series have network ports, are Wi-Fi ready, have the option for “Data card” and are available with GUI enabled user friendly Linux OS.

HCL’s launch kitty also included the MiLeap Y series ultra-portable leaptops in the sub Rs 30,000. Ranging from Rs 29,990 this range is still at half price point of similar ultra-portables in the market.

The HCL ‘MiLeap’ Y Series, powered by the latest Intel Ultra Mobile Platform & Microsoft’s Vista Home Premium, operating system weighs just 960 gm. This ultra Portable Leaptop comes with a Swivel 7-inch touch screen, 80 GB HDD, wireless connectivity, Data Card option, Bluetooth & Ethernet network port offering full PC functionality with true internet experience on the move.

The MiLeap Top Y Series incorporates a unique Navigational Pad that offers multiple navigational features such as touchscreen, thumboard, stylus, keyboard, mouse and one touch buttons, making it one of the most intuitive products. It also features a Swivel 7-inch display cum note pad, making it a pleasure to input using a stylus and handwriting. The Microsoft Windows Vista Home premium powered MiLeap Y series is priced at Rs 33,990

Designed using the latest Intel Ultra Mobile platform Intel processor A110 and Intel 945GU express chipset- this energy efficient lower power silicon design consumes less power, reduces thermal impact and gives an extended battery life. HCL being a socially responsible organization and conscious of the environment, both products are fully RoHS compliant with low energy footprint design.

The variety in the under Rs 30,000 (and with the MiLeap X series) the under Rs 20,000 range is increasing. Are Lenovo, HP, Acer, Dell and the likes beginning to feel hot around the collar?

NYLIM Jacob Ballas India Fund takes 1 per cent pre-IPO stake in Mahindra Holidays for $10.06 million

Leisure hospitality provider Mahindra Holidays & Resorts India Ltd, that owns Club Mahindra Holidays, has finalised a 1 per cent private placement deal with NYLIM Jacob Ballas India Fund III, LLC, for around $10.06 million. The equity shares to be transferred to the fund will be subject to lock-in after the IPO as per SEBI regulations.

Last week State Bank of India had finalised deal with Mahindra Holidays, a wholly-owned subsidiary of of Mahindra Holdings & Finance Ltd (the Company), to take a 2-per cent stake through private placement deal for around Rs800 crore. (See: State Bank in Rs800-crore pre-IPO private placement with Mahindra Holidays)

Mahindra Holidays has planned an IPO in the first quarter of the year and filed its draft red herring prospectus with the Securities and Exchange Board of India for an initial public offering of 10,719,347 equity shares of Rs10 each for cash at a price to be decided through a 100-per cent book-building process.

The issue would constitute 13 per cent of the fully diluted post-issue paid-up capital of the company, which equity shares and an 'offer for sale' of up to 6,596,521 equity shares by Mahindra Holdings & Finance Ltd.

The Equity Shares are proposed to be listed on the National Stock Exchange of India Ltd and the Bombay Stock Exchange Ltd.

State Bank in Rs800-crore pre-IPO private placement with Mahindra Holidays

State Bank of India has finalised deal with leisure hospitality provider Mahindra Holidays and Resorts India (MHRIL), that owns Club Mahindra Holidays, to take a 2-per cent stake through private placement deal for around Rs800 crore.

The equity shares that State Bank acquires will be subject to lock-in after the IPO as per SEBI regulations.

Mahindra Holidays has planned an IPO in the first quarter of the year has filed its draft red herring prospectus with the Securities and Exchange Board of India for an initial public offering of 10,719,347 equity shares of Rs10 each for cash at a price to be decided through a 100-per cent book-building process.

The issue would constitute 13 per cent of the fully diluted post-issue paid-up capital of Mahindra Holidays, and includes a pre IPO placement up to 3 per cent. The issue comprises a fresh issue of 4,122,826 equity shares and an offer for sale of up to 6,596,521 equity shares by Mahindra Holdings.

The equity shares are proposed to be listed on the National Stock Exchange and the Bombay Stock Exchange.

The US central bank, the Federal Reserve, has cut US interest rates from 4.75% to 4.5%.

The decision follows a bolder move in September when it lowered rates from 5.25% to 4.75% - the first US rate cut in four years.

Why did the Fed cut rates, and why does it matter for the rest of the world?

What has the US central bank done?

The US central bank has trimmed interest rates for the second month in a row, a reversal in its two-year policy of raising rates to combat inflation.

But it cut rates by 25 basis points, less than the amount after its September meeting.

The move shows how seriously the Fed takes the turmoil in the world's financial markets which has threatened to derail the US and world economy.

Why does the Fed decision matter?

Many experts believe that only a substantial cut in interest rates by the Fed would have been enough to calm the turbulence in the world's financial markets.

The decision sends a strong signal that the US authorities are prepared to intervene to stabilise the markets and to prevent the US economy sliding into recession.

And it will reassure banks and governments around the world that the US was prepared to take a lead in tackling the current crisis.

How does a rate cut help?

By cutting rates, the Fed is boosting the US economy by making it cheaper to borrow money.

It is also taking the pressure off companies and banks who are suffering a credit crunch: they find it difficult to borrow money to finance their normal operations due to fears of looming bad debts in the system.

And it might help stabilise the US housing market, which is tumbling as a result of the sub-prime scandal, where too much lending was made to individuals that were not credit-worthy.

Many of these households are now in default, and with banks beginning to repossess their homes a glut of unsold homes is depressing the property market.

Why does it matter to the rest of us?

The US is the world's largest economy, so a slowdown in growth there could affect the prospects for the economy in Europe and Asia.

And the fears about bad credit risks in financial markets have already spread to the banking sector in Europe and the UK.

The Fed move also signals that interest rates are likely to be cut across the world, at least in the short-term, to prevent the crisis getting worse.

Will it work?

It is not certain that even two rate cuts will be enough to either calm the markets or avoid an economic downturn in the longer term.

In particular, the US housing market is now so fragile that even lower rates may not persuade people to buy houses right now - and a big slowdown in housing and construction is already having a knock-on effect on the economy.

And until the banking system reveals the full extent of its potential losses from bad debts, there will still be the potential for further panics.

And that makes it more likely that other central banks, like the Bank of England, may have to cut rates sooner rather than later in order to reduce the risk that the crisis will continue.

The Reserve Bank of India on Friday barred banks from resorting to any verbal or physical harassment of customers through agents in case of loan defaults and warned that the Central banking authority may consider ban on banks in case of any violation of the rules.

Issuing a set of draft guidelines for banks on the use of recovery agents, the RBI said banks will have to inform borrowers the details of agents being used to pursue any default cases.

The Central bank also said that recovery agents will have to call borrowers from telephone numbers notified to them and such agents need to undergo a minimum of 100 hours of training before joining such a job.

The RBI requested bankers' bodies like the Indian Banks Association or IBA and IIBF to start a certificate course for recovery agents in order to train them properly before using them against loan defaulters.

The banks have also been told to clearly incorporate repossession clauses in loan contracts and while exercising such rights, the banks will have to give a notice period to the customer before going in for repossession of an asset.

The banks have also been told to notify its customers about the procedures to be followed for the sale or auction of any repossessed property. The Central bank advised banking institutions to use lok adalats for cases relating to recovery of consumer loans bellow Rs 10 lakhs in order to ensure speedy disposal of such matters.

Your Mobile Number Will be Portable!!

We have all gone through the endless frustration of changing mobile numbers and sending out countless messages alerting the change in number. And we needn’t go into the number of times we’ve had to change or edit contact numbers of friends and acquaintances because they have changed moved elsewhere or simply changed mobile carriers. But all that will soon change.

The Indian Government has, on the Telecom Regulatory Authority of India’s (TRAI) recommendation, decided to implement mobile number portability (MNP) in India. MNP will allow you to switch mobile carriers without changing your number, a very welcome news no doubt for all mobile users.

A Raja, Communications minister yesterday approved the MNP support in four metros i.e. Mumbai, Kolkata, Chennai and Delhi. This should soon be expanded to other parts of the country as well. As of now the MNP introduced does not include switching service type – mobile to fixed line or locations – from Mumbai to Delhi and vice versa; i.e. you can only switch mobile carriers within the same city.

So, no longer sticking it out with a service provider simply because you don’t want to change your number. This is exactly the freedom mobile users were looking for. MNP will make lives simpler for us and make the going somewhat tough for mobile operators, who will have to be on top of their service at all times, else they’ll lose customers.

MNP is expected to come into action only by March 2008, so it gives mobile operators plenty of time to woo customers and gather a loyal bunch. So, don’t be surprised if you are suddenly flooded with offers and schemes that are an absolute peach. Mobile users, make the most of it. Happy times await!

Some Good News!!

Days after the Reserve Bank of India sent out a strict warning to banks to stop using recovery agents with strong arm tactics to recover loans, the State Consumer Disputes Redressal Commission of Delhi has fined the ICICI Bank a whopping Rs 55 lakh for employing 'goons' to recover loan from a customer.

Deploring the practice of the banks intimidating consumers to pay the installments, the consumer court held ICICI Bank guilty of using goons to harass a consumer, Tapan Bose, and his friend's son Vinod Chowdhary.

Vinod had to be admitted to hospital after the recovery agents mercilessly beat him up while they snatched a loaned car from him in January this year. The incident occurred when Vinod was driving Bose's car, which was bought on a car loan from the ICICI Bank.

While passing the order, the court warned all banks against using musclemen for loan recovery and asked the Delhi police commissioner to instruct all SHOs to register FIRs against such complaints.

The commission deprecated the 'audacity and impunity' with which the banks have been effecting forcible possession of vehicles. "No civilised society governed by rule of law can brook such kind of conduct," the Commission's President Justice JD Kapoor said.

He also described the violent methods adopted by the recovery agents as a serious violation of 'human rights'. Holding the ICICI Bank guilty of 'unfair trade practice', the commission termed such miscreants as 'yahoos' and said they are boorish and a brutal lout, who care a fig for legal and judicial authorities, including the Supreme Court.

While taking to task the leading bank, it vented its anger on the ICICI for flouting the apex court's direction that restrained all the financial institutions from employing musclemen to recover a loan amount or possession of a vehicle.

Important Information about (PN) Participatory Notes

What is Participatory Notes?

Participatory Notes (PNs) are nothing but financial instruments which are generally used by investors or hedge funds that are not registered with the Securities and Exchange Board of India or Sebi to invest in Indian securities.

That means if you are a foreign investor not registered with Sebi, you can still invest in Indian markets through PNs and how? In such cases, Indian-based brokerage houses will buy the securities on your behalf and then issue PNs to you. Any dividends or capital gains collected from the underlying securities will keep going back to you.

PNs along with other instruments like Equity Linked Notes and Capped Return Notes are called Offshore Derivative Instruments or ODIs. ODIs are generally issued to overseas investors and they are so called as they derive their existence from the ownership of underlying shares in an Indian company.

Equity Linked Notes or ELNs are instruments whose return is determined by the performance of a single equity security, a basket of equity securities or an equity index. Capped Return Notes, as the name suggests, have a pre-established profit cap.A

Simply speaking, all these are bilateral contracts between FIIs and investors for taking exposure in specific stocks without registering themselves with SEBI.