Indian insurance sector to get more global tie-ups

By now it has become evident that 2010 is going to be a boon for the Indian insurance sector and the reasons behind this are not hard to see. A number of insurance tycoons across the globe are getting interested to capitalize on this mounting (in terms of revenues) and certainly vibrant market and foremost of them happen to be the celebrated insurance companies hailing from Japan.

One of these is, without a shred of doubt, Mitsui Sumitomo, an exceedingly acclaimed insurance player in the realm of Japan, and the company, at the moment, is busy is exploring opportunities to enter the Indian insurance sector. What is its aim at the moment? Well, as far information goes, it is to set up shop in India. It has to be stated, in this context, Indian Government’s proposal to lift the FDI cap in the insurance sector from 26 per cent to 49 per cent has stimulated Japanese and Korean companies to a large extent.

Why shouldn’t the same be too? Recent studies suggest that India and China are among the fastest growing insurance markets following the recession. Is there any difference between the two? As indicated by industry analysts, even if China is a bigger market, India’s distribution system is more evolved and it is believed to be acting as the Unique Selling Proposition at this moment in time.

There have been other inspiring facts as well. As said by industry officials, global companies by and large prefer to have a presence in both India and China and the market grapevine has it that a couple of Japanese and Korean insurance players are looking at possible joint venture deals with some of the financial services firms having extensive distribution networks.

Bear this in mind. Mitsui Sumitomo Insurance (London Management) Ltd (MSILM*) is part of the Mitsui Sumitomo Insurance Group (MSIG). MSILM, through its subsidiaries, is one of the most innovative and forward thinking insurers in the market at present.

Indian insurance sector awaiting a showdown

There is no doubt in it that the New Year – 2010 is going to be the best in your life and will gratify your most of long-standing aspirations. Will the same be for everyone? Well, I am not so sure but surely it is not going to be for the Indian insurance sector. Reason? A bitter struggle between the insurance and markets regulators in the Indian scenario is imminent and the questioning of Securities and Exchange Board of India (SEBI) to HDFC Standard Life regarding the absence of life insurance cover under its pension plan has already initiated the scuffle.

Experts assume the market regulator looking for product details from a company which comes under the realm of the insurance regulatory and development authority is not unusual but the same development could intensify issue of regulatory turf. The only reason is that insurance companies are allowed to put up products for sale only after a rigorous approval process by IRDA.

Nevertheless, HDFC Standard Life Insurance has preferred to retain a strange silence over the issue thus far. But industry analysts are anticipating a bitterer development. As per the majority of them, IRDA may take the matter up with SEBI owing to the fact that the pension plan like all other products was cleared by the insurance regulator. It is to be noted that the launch of
unit-linked insurance plans has wakened the lines between a mutual fund and a life insurance company.

It has come to the knowledge, in order to distinguish the products the insurance regulator has prescribed minimum lock-in period for life companies. The approach, without a shred of doubt, is surprising since all life insurers sell similar pension plans without any life cover. HDFC Standard Life can’t be held culpable as a result.

We are waiting for a showdown.

Real estate woes tormenting Indian government much

Even though economic pundits in the realm of India are considering the indigenous realty sector as one of the most vivacious and prospective sectors (certainly in terms of generating revenues) known hitherto, the picture is perhaps getting bleak bit by bit owing to several unforeseen developments. What makes one issue such ruthless remarks?

Go through the following and I hope that you may also abide by my standpoints.

It is getting evident an increasing number of non-resident Indians (NRIs) is getting vulnerable to real estate woes and as per some of the preys, negligence of governance happens to be supreme. To cut a long story short, copious numbers of complaints of real estate deals getting sour, crooked and dishonest encroachment and unauthorized occupation of properties have flooded the ministry of Overseas Indian Affairs (MOIA).

What we can say is that this is nothing new but the recent saga of Satyam scam casting its shadow on Maytas Properties has made the situation out of the frying pan into the fire. There is hardly any doubt that apprehensions amid overseas investors, thanks to all these tainted events, have deepened.

What has been the response of Government of India? After all, it is the foremost authority and can’t leave us in the lurch. Well, it has expressed own views and as indicated by Vayalar Ravi, Overseas Indian Affairs Minister, "Property dispute is one of the most frequent complaints by NRIs. They are unable to protect their property due to long absences or lack of awareness of laws."

Bear this in mind too. The majority of complaints are from major real estate markets like Delhi, Mumbai, Bangalore, Andhra Pradesh, Kerala and Punjab.

What types of complaints are there then? The nature of the complaints, it has been found, are mostly protection of property that has been forcibly occupied or encroached, dispute relating to division of property or inheritance and cases where investors have been cheated by real estate developers.

On the word of the minister, following this deluge of complaints, he had written to state governments asking them to appoint nodal officers for civil, judicial and police matters. These nodal officers are free from NRI cells that are dedicated for issues related to financial or welfare interests of overseas Indians.

Wen Jiabao vows to retain "proactive" fiscal stance

China is in a real fix and the experts fear the real estate bubble may attain alarming proportions, if not restrained in time. All these have stimulated the Communist Government of China to get cognizant of each and every development in the pertinent area and the Chinese Premier has come out with a phenomenal assertion. In accordance with Wen Jiabao, the Chinese Premier, from this time forth the government will dampen down property prices, resist pressure for the yuan to appreciate and keep inflation at "reasonable" levels.

"Property prices have risen too quickly in some areas and we should use taxes and loan interest rates to stabilize" them, Wen said yesterday in an online interview with the official Xinhua News Agency. China will "absolutely not yield" to calls for currency gains, he stated in addition.

Take a look at some other crucial facts. Recent reports suggest elucidate that China's property prices climbed last month at the quickest pace ever since July 2008 and all these made industry analysts predict record lending and inflows of money will inflate asset bubbles in the world's fastest-growing major economy. What was the last statement of Fan Gang? Only on November 18 the Central bank adviser said that the nation needs to be on alert for stock, real-estate and commodity bubbles for the reason that global capital flows into emerging economies.

"It's difficult to see how serious the government is about cooling the property market," said Andy Xie, former Morgan Stanley chief Asian economist. "The issue isn't about introducing new measures but enforcing existing measures."

We must focus more on the statement of the Chinese Premier. China should anticipate inflation on account of factors including rising global commodity costs, Wen said, pledging to keep price increases in a "reasonable range." The government will leave no stone unturned to retain a "moderately loose" monetary policy and a "proactive" fiscal stance, Wen said, adding that it would be a mistake to extract stimulus measures too quickly.

Israel’s military triumphs strengthen own realty sector

This picture, without a shred of doubt, is contrary to the belief. We, at the moment, are dealing with Israel but more with its successes, instead of anguishes as usual. The whole of Jewish republic in southwestern Asia at eastern end of Mediterranean, at present, is enjoying a housing boom and the sole credit, in this context, goes to its political leadership. How? If you recall whilst Israel launched a massive offensive in the Gaza Strip a year ago, political leaders said the primary objective was to quench cross-border rocket fire against villages in southern Israel.

What is the current situation then? Well, all tensions have dissolved almost as the military mission has largely been accomplished. It must be taken into consideration that launches of short-range Qassam rockets plummeted 90 percent to a decade low in 2009. All these positive developments have stimulated the country-wide realty sector and there has been a upsurge in demand for homes in a region that people had been fleeing. There is hardly any doubt that most of Gaza remains in ruins thus far. Nonetheless, improved interest in real estate in Sderot, the main target of the Qassam rockets, has pushed home values up by as much as a 30 percent.

A sense of optimism is being witnessed in the kibbutz, or farming collectives, around Gaza, as well. On the word of leading real estate marketing executives in the region, sales of new homes have tripled while prices have risen 15 percent. As per the majority of them, the situation has changed drastically by now and the role played by improved security conditions, in this regard, can’t be belittled.

Is this the beginning of a new era? We surely would love to envisage in this way but some fears still continue to torment Israelis and according to the beliefs of majority, a new, worse flare-up is only a matter of time. If recent Israeli army intelligence assessments are relied upon, Hamas is learning the lessons of the war and stocking hundreds of missiles in preparation for another round of fighting.

But surely Israel is steadfast and this defiant attitude is being expressed through each aspect, the buoyant Israeli realty sector is one. Truly, it is unlike India, the Asian giant, mostly susceptible to terror strikes and getting lost in political squabbles bit by bit.

Can US leaders restrain subsequent healthcare legislation hurdles?

How can a struggle be won? Lots of pundits are there to express personal standpoints in this context but we, commoners remain in need of extremely explicit specimens to stimulate ourselves. US healthcare reform Bill – gallant struggle to set up the essence and to emerge victorious after a long, arduous struggle, if truth be told, is itself a specimen that will encourage the generations to come.

The history was created as soon as US Senate approved the ground-breaking legislation and by now it’s a reality that it would play a great role in extending healthcare for tens of millions of uninsured Americans. Now the question remains whether the victors can have a sigh of relief yet and the reasons are not hard to see.

As per a considerable section of pertinent analysts, substantial hurdles await the legislation to a large extent. It has come to the knowledge that the work will embark on in the New Year to reconcile the Senate legislation with a House of Representatives Bill that was passed last month, which is more left wing. Make a note of this as well. Potentially tough negotiations are likely all over January for the reason that the two Bills have significant differences.

Experts state that the Senate Bill does not include the "public option" - a government-backed insurance programme - which is a crucial part of the House legislation. The provision is likely to be hard fought for by liberals in the House. Nevertheless any public option risks losing the key votes of moderate Democrats in both the House and Senate.

Is this all? Perhaps not! Another conceptual separation between the two bodies is how the reforms will be financed. The House Bill would enforce a surtax on high-earning individuals and couples, whereas the Senate Bill applies a 40 per cent tax to be paid by insurance companies on alleged "Cadillac plans" or the health insurance premiums that cost above $8,500 a year for individuals and $23,000 for families.

South Korea firm to fortify own defense science and technology might

The political climate of Asia is changing fast with China and (to some extent) India getting belligerent than ever before. What should other nations do other than fortifying own boundaries and potencies? South Korea is doing the same and in accordance with the country’s Ministry of National Defense, it has unveiled revised plans on developing the country's defense science and technology from 2010 to 2024. Without a shred of doubt, the task is both humongous and intricate but what else can be done. One should not forget that South Korea shares border with the Democratic People's Republic of Korea, known for its uncanny approaches, dogmatism, and unwavering fealty to communist principles in the global arena.

Now let’s have some words regarding revised plans. As per the Ministry of National Defense, the revised design has set improving technologies for high-tech weapons system as a mid-term goal and securing independent technology for it as a long-term aim. Nevertheless, there shall be far-reaching consequences and it is likely that South Korea’s investment in research and development on national defense, at the moment at 5.6 percent of the total military spending, will climb up to 7 percent by 2012, and to 10 percent by 2020. This is not only a sharp rise compared to the original plan but is competent to make the nation more poised than ever before.

It is to be noted that South Korea, at this time, is the world's 18th largest weapons seller and also aims to increase its arms sales by 2024 to become the 10th exporter.

But there have been some other talks as well. Government records suggest that changes in plans are believed to be made every five years. What led to this bizarre development then? Experts state that the changes did surface in advance than standard following the latest revision in 2007 on account of policy changes on national defense under the Lee Myung-bak administration, which assumed office in February 2008.

Can insurance schemes with feudal overtone benefit?

The Preamble to the Constitution of India declares the nation to be a sovereign, socialist, secular, democratic, republic but I am confident that none can have the glimpse of it in the reality. Though this is shameful and I do also feel bitter while stating the same, truth can’t be enshrouded. Perhaps there is no other country where each and every aspect of feudalism reigns with such vigor while remaining under the clout of democracy.

There is, without doubt, no country other than India where posthumous awards or schemes dedicated to departed leaders rule the show. Take for instance Congress General Secretary and budding PM (or Super PM?) Rahul Gandhi. The royal scion (who can dare to be majestic save for him?) launched Rajiv Gandhi Artisans Health Insurance scheme for women associated with self-help groups, bringing his slain father’s charisma yet again to the public.

Inaugurating the scheme in his own constituency launched as an enterprise between the ICICI Bank and Union Textile Ministry, Rahul said free medical treatment of upto Rs 6,000 would be provided to women connected with the SHGs. What shall be the other benefits? Cards will be issued to the beneficiaries under the scheme, which will enable them for free treatment at the Sanjay Gandhi hospital.

There was, if truth be told, a festivity to mark the visit of Congress General Secretary and ten OPD camps were organized on the occasion at Sanjay Gandhi hospital, where free medical examination and treatment was provided to locals. The Congress leader himself, projecting himself as a true leader, inspected the camps and enquired about medical examination and treatment being given to the patients.

What do you envisage then? The insurance scheme had been necessary, it was introduced but we have strong doubts of its application.

No scheme with feudal flavor has been successful thus far. If you fail to accept this and contradict me, I shall be happiest.

Anita can’t be disowned, She is our Daughter and shall ever be

Where are we heading to? This sentence at the very outset may astound you a good deal. Well, before going to any further, let’s check out some readily available facts.

Ever since Islam stepped into the realm of Bengal, forceful conversion of Hindus has been one of the most preferred ploys of the Muslim zealots to make the whole community kowtow. Throughout the Muslim hegemony and 19th century, it was in full swing and gained new momentum with the onset of the 20th century backed by several doctrines. It has been unabated in both erstwhile East Pakistan and contemporary Bangladesh but the same malicious campaign is being witnessed in the Indian state of Bengal too, thanks to the tacit understanding between the pseudo-secular sections and Islamic fundamentalist forces and certainly the uncanny silence of the culpable democratic society.

What is more striking, even the Hon’ble Calcutta High Court, considered as the highest form of judiciary in the state, is corroborating the same spiteful intents. What else can be said if we look at the strange development of the case of Ms Anita Ray?

Ms Anita Ray (aged 15) and Shahidul got married only after she was misled by him. Anita, at the behest of Shahidul, ran from her paternal residence, got converted into Islam and married the venomous guy. Mr. Suvendu Ray (Anita’s father) got infuriated and with the help of police got hold of the estranged daughter only on 20th October, six days after the couple took flight.

From that period Shahidul was absconding and even though he appealed to the lower court for bail in advance, it was rejected altogether. Strangely enough, Calcutta High Court has sanctioned the same citing that marriage of women under 15 years is lawful under the Muslim Marriage Act, unlike Hindus.

What does this lead to? Does the court wish for to affirm that any such act is glorious? Does it want to convey the message that Muslim society is omnipotent and what it does is just? Before that, Anita, at the time of conversion, was of 15 years old only. How can a minor be converted?

It’s definite that the Ray family didn’t consent or respond favorably to the proposal, not to speak of Anita, a minor girl who can’t decide on any such crucial issue, in accordance with Indian Penal Code.

What can you say then? This is one of the gravest conspiracies known hitherto and must be trounced, forget about remaining indoors and continue to doggone or wish harm upon Shahidul. Without a shred of doubt, he has been backed by the considerable section of Muslims in close proximity, may be there is the involvement of Calcutta section as well.

The line of battlefield has been drawn already and we are taking all types of measures to make the heinous conspiracy bite the dust. Be it legal or…………

Intel and investigative journalism – nice combination!

Let’s begin by having a few words of a highly controversial subject that may leave you wondering of its relevance in this regard. It’s investigative journalism, a form of journalism in which reporters deeply investigate a single topic of interest, often involving crime, political corruption, or a scandal. However, there is also a difference. Unlike the past, business enterprises and tycoons have become the focal point of investigative journalism, and the situation has already become perilous.

Who can understand this better than Intel? Thanks to a leaked report, it has been learnt that Intel's imminent "Gulftown" 32nm, six-core processor will be known as the Core i7-980X and could be a part of new Mac Pro systems from Apple in early 2010. This is not all, surely.

In accordance with leaked information relayed by Hardmac, the English-language version of French Apple site MacBidouille, in contradiction of earlier reports, the new processors will not adopt the Core i9 name, and will purportedly retain the Core i7 title. The new processor, code-named "Gulftown" will fall under the i7 "Extreme Edition" category, the first of which will be the i7-980X.

The so-called roadmap from Intel depicts that the processor will clock in at 3.33GHz. That chip is likely to arrive in March 2010, but in the past, Apple has reached exclusive agreements with Intel to be the first to carry its new processors. A number of preceding reports have suggested Apple is testing the new Xeon chip, anchored in the Gulftown architecture, in its Mac Pro desktop. The new, upgraded processor features more horsepower and lower power consumption, and will be the first dual-socket, six-core processor for Intel.

It has also been learnt that the novel 32 nanometer chips have 12MB of L3 cache, and six cores with 12 threads for each CPU. Apple, by and large, doubles the processors in its high-end professional workstations, therefore it's feasible the new Mac Pro system could have a total of 12 cores and 24 threads. The new hardware could be released sometime in the first quarter of 2010.

Is iMac’s built in demerits ailing Apple Inc.?

There had been large talks with regard to the launch of iMac, Apple Inc.’s 27-inch all-in-one desktop computer both in and out of the company and it was formally released in October. But even after this, when people thought that all settled, shipping on orders of the cutting-edge device has been delayed by two weeks. Reason? Well, Apple has given a justification in this regard but to most of people it is nothing but a ploy to enshroud own demerits and hence it is largely feeble. Is it so?

On the word of Apple Inc., the delays are on account of high demand for the all-in-one desktop computer, its largest model yet. "The new iMac has been a huge hit and we're working hard to fulfill orders as quickly as possible," Apple's official statement says. "We apologize for any inconvenience or delay in delivery this may cause our customers." As already said, many are considering it as feeble and smell a rat. Copious numbers of conjectures are running high, as a result.

Let’s crack down on unofficial sources then. Many analysts have started saying that the 27-inch iMac has display problems. Chatter about cracked screens began in Apple's discussion boards last month, and Macworld's test unit suffered the same fate. A great talk is also going on regarding flickering displays; it's the most frequently reported issue at a website committed to documenting the 27-inch iMac's woes.

Do you want to lend ears to the versions of sharp detractors? One of them is surely BroadPoint AmTech analyst Brian Marshall who lays the blame directly on ATI's graphics cards. "They should've stuck to Nvidia," Marshall told MacNewsWorld. Apple brings ATI cards into play in both its 27-inch iMacs and one of its 21-inch models, but only the larger models have been delayed. Marshall, in addition, questioned Apple's claim that its flagship iMac is a huge hit, calling it a "low-volume product."

Can Microsoft appropriate Plurk’s code and content?

This is unusual for a multinational computer technology corporation like Microsoft even. The internationally celebrated organization is under a close scrutiny, it is alleged to have got inclined to stealing of both code and content from a rival. This is not only a crucial stage for the company but any impulsive act may lead to an irreparable damage to its brand identity also.

The plaintiff, in this context, is Plurk, known for operating Asia's top microblog and it claims Microsoft's Juku service chisels its look, structure and also mode of operation to a large extent. Through one of its blog post Plurk officials stated, "Imitation may be the sincerest form of flattery, but blatant theft of code, design, and UI is just not cool." Juku "is by and large an EXACT copy of Plurk's innovative left-right timeline scrolling navigation system," Plurk officials said in their post.

This is not all and the officials posted afterwards how they came to know all these. "We were first tipped off by high profile bloggers and Taiwanese users of our community that Microsoft had launched a new Chinese Microblogging service that looked eerily similar to Plurk," the officials said.

"Needless to say we were absolutely shocked and outraged when we first saw with our own eyes the cosmetic similarities Microsoft's new offering had with Plurk. From the filter tabs, emoticons qualifier/verb placement, Karma scoring system, media support, new user walkthroughs to pretty much everything else that gives Plurk its trademark service," the officials stated this too.

It is to be noted that Microsoft introduced MSN Juku Dec. 1 in beta form. It lets users post 140-character messages, a la Twitter.

The veracity is yet to come out but the allegation has shocked lots of people given that Microsoft’s involvement with crusade against software piracy and theft of intellectual property in the Asian market is known.

However, we are groping in darkness still.

Bangladesh in search of a tech-savvy identity

It seems that Islamic Bangladesh, always vulnerable to specter of religious bigotry and hardliners, has come to the conclusion that the country (considered as “rural slum” by erstwhile British rulers) can’t proceed devoid of latest versions of science and technology. Well, all these have come to light as Sheikh Hasina as Bangladesh’s Prime Minister (PM) (for the time being), also daughter of slain leader Mujib, has expressed her solemn pledge to build a science and technology-based modern Bangladesh free from hunger and poverty by means of implementing its development goal: "Vision 2021".

The PM was engaged in a video conference with the local people after inaugurating a newly-installed 1000 kilowatt medium wave transmission of Bangladesh Betar at Dhamrai where she said, "We are working to carry forward the country by using modern technology as well as ensuring balanced development across the country in line with our election pledges." In addition, Ms Sheikh Hasina stated that it would be possible to create jobs for the young generation and build Bangladesh a modern one with the finest application of new generation technology.

At an earlier time, the PM officially launched the transmission of the state-run Bangladesh Betar by pressing a button at Super Power Transmission Centre and Information Secretary Dr Kamal Abdul Naser Chowdhury briefed Prime Minister Sheikh Hasina about the transmission, its efficacy and on the entire installation project.

An enormous gathering consisting of Information Minister Abul Kalam Azad, local lawmaker and local people were present on the occasion.

The PM said the country's development process has been disrupted for a number of times on account of grabbing state power through unconstitutional means by vested quarters after the brutal assassination of the Father of the Nation Bangabandhu Sheikh Mujibur Rahman.

Can tech-savvy Indian Police ensure a better security?

It all did happen in the late 60s and early 70s when the whole of Calcutta (Kolkata) and Bengal was tumultuous on account of the Naxalite Movement in full swing. Even though several harsh methods (that have remained focal points of human rights organizations yet) were used, Calcutta Police, especially its IB and Special Branch were able to quell the intensity and earned the title “Scotland Yard of the East.” There was hardly any presence of new technology but the Calcutta Police emerged victorious thanks to strong public-police coordination. The question remains whether the Indian Police force still enjoys the same confidence.

All these are being asked since Dakshina Kannada district police of the state of Karnataka has launched its own website - www.dkpolice.org and it hopes that this will lead to a new chapter of professionalism, greater competence and much more.

It has to be stated that the same district police did start blog (spdk.blogspot.com) as a public-police interface four years ago, an unique experiment and first-of-its-kind in India. The blog, without a shred of doubt, became popular and inspired many district police units in Karnataka as well as across India to do the same. It has been learnt that this exceptional official police blog will be yanked off the net before long and become an integral part of the official police website, under its own domain.

On the word of B Dayananda, SP at the time of launching the blog and now Deputy Inspector-General of Police (Intelligence), while the blog started by him was a novel concept in the police department, websites were not new. "Many district police units in India, and abroad started their websites, but majority of them are not regularly updated or are in a state of limbo," he said to TOI.

The website maintained and designed by Goal IT Solutions, Mangalore, has been funded owing to special innovations project fund given by DGP Ajai Kumar Singh. This is the first time ever that the district police have received such funding such efforts are on to make the website more comprehensible, SP said.

We end with a humble question. Can the new tech-savvy Indian Police assure us of a better security? Can it surpass the feats of Calcutta Police?