Wednesday, January 12, 2011

Infosys reports 14.1% net profit rise

Software exporter Infosys posted on Thursday a 14.1% rise in consolidated net profit, lagging forecasts as a strong rupee and wage costs offset improved outsourcing demand. Net profit for the Nasdaq-listed firm rose to 17.8 billion rupees ($397 million) during the three months to December from 15.6 billion rupees a year earlier.
Revenues, by international accounting norms, for the Bangalore-based outsourcer rose 24% to 71.06 billion rupees, the company said in a statement to the Mumbai stock exchange.

Analysts had expected Infosys, India's second largest software exporter, to show an 18% rise in quarterly profit.

Infosys shares fell 3.2%, or 106 rupees, to 3,268 rupees in early trade after the earnings were announced.

The company, which is closely watched by investors as a barometer for the country's technology sector, added 40 clients and a net 5,311 staff in the quarter.

India may slow down to 8.4% in 2011, says World Bank

South Asia's growth engine India is expected to slow down a tad to 8.4% this year from an estimated 9.5% in 2011 before rising again to 8.7% in 2012, the World Bank has forecast. South Asia as a whole is still projected to continue to post robust growth of 7.7% and 8.1% over the forecast horizon in FY2011/12 and FY2012-13, respectively-albeit a deceleration from the 8.7% growth recorded in FY2010/11, it said.
The projected slowdown in South Asia's real GDP growth this year follows its acceleration from 7.0% in FY2009-10, buoyed by very strong growth in India, up 1.8%age points from 7.7% in 2009, the World Bank'sGlobal Economic Prospects 2011 released Thursday noted.
Excluding India, which represents 80% of regional GDP, growth (on a fiscal year basis) firmed, but to a more modest 5.1% from 4.3% the year before.
On a calendar year basis, GDP for the region as a whole is estimated to have expanded 8.4% in 2010 after 5.3% in 2009, and to 4.8% in 2010 from 3.8% in 2009 if India is excluded, the Bank noted.
These strong growth rates mainly reflect robust domestic demand, supported by macroeconomic policy stimulus measures, and a revival in investor and consumer sentiment, the Bank said noting improved external demand and stronger private capital inflows have also played a role.
However, despite some modest progress toward fiscal consolidation in 2010, South Asia has the largest fiscal deficit among developing countries with the region-wide deficit estimated at 8.2% in 2010 with India's fiscal deficit pegged at 9.6% of GDP.
The projected slowdown in growth this year partly reflects expected further tightening of fiscal and monetary policies, which are aimed at reducing inflationary pressures, bringing fiscal deficits down to sustainable levels, creating fiscal space, and avoiding the build-up of large external imbalances, the Bank forecast said.
India is targeting progressive reductions in the central government's fiscal deficit to 3.0% of GDP by end-FY2013-14 from 6.7% in FY2009-10, which will be supported by proceeds from divestment and reforms to fuel-subsidy programmes.
The region's high fiscal deficits reflect a number of longstanding structural factors, with significant pressures emanating from both the revenue and expenditure sides. In particular, tax mobilization in the region is low.
Other factors have contributed to the region's large deficits, including in the case of India, for example, elevated countercyclical spending that has yet to be fully unwound.
Inflationary pressures were up across most economies in the region in 2010, with elevated capacity utilisation rates, accommodative macro-policy stances and increased inflationary liberalization of fuel-price subsidies contributing to higher prices in India.
More recently, inflationary pressures have been partly offset by falling local food prices, due to improved harvests following a good 2010 monsoon, particularly in Afghanistan and India.
Net private capital inflows (excluding official inflows) to South Asia strengthened by an estimated 18.4% in 2010 to $81 billion from 2009, and held fairly steady as a share of GDP at 4.0% in 2010 versus 4.3% in 2009. India and Sri Lanka account for the bulk of private capital inflows.
Compared with other developing regions, where portfolio inflows averaged 0.8% of GDP in 2010, portfolio inflows are relatively high in South Asia-and largely reflect record high foreign portfolio inflows into India during 2010.

What's piping hot this year!

A look at the top food trends of 2011 has revealed that pies, hot dogs, gourmet airport food will be the flavour of the year. Every Day with Rachael Ray magazine picked up the top trends for the upcoming year and the list has a New York flavour as most of the staff live in the five boroughs.
"We are always eating out, cooking at home or checking out what other people are putting in their mouths," the New York Daily News quoted Liz Vaccariello, the magazine's editor-in-chief, as saying.

She picked out three of her magazine's top food trends for 2011 that can already be seen in New York.
1. Gourmet airport food
As the TSA ramps up efforts to pat down every inch of passengers' bodies, airports are doing their best to provide epicurean dining options to harried travellers.
"Food is comforting, and with all the hassles of flying these days, that is more important than ever," Vaccariello explained.
"Also, airport dining is one last opportunity to get a taste of the town. The local chefs are finding out that this is their chance to leave either the first taste or last taste in New York City.
"The best chefs in the city are recognizing that people who travel tend to be people who care about food.
"Another part of the issue is that the food on planes is so bad and you have to pay for it now. So people want to eat before they get on the plane and they want to eat well," she said.
2. Pies
If there is one thing that Vaccariello insists, it's that 2011 will be the year of the pie.
"Pies are really coming back into style," she said, pointing out that even President Obama loves eating pie.
"We are seeing pies have their day in the sun because they are the ultimate comfort food. There is something so familiar about pie. In many ways, it can be a one-dish meal.
"Not only are restaurants serving pies on their regular menus, but you are seeing pie-specific places pop up," she revealed.
3. Artisanal hot dogs
"There's something so iconic about a hot dog from a cart in New York City, but that's not what we are talking about here," Vaccariello said.
"We are talking about fancy hot dogs with fancy toppings. We've already done this with pizza and burgers; 2011 is hot dog's year to shine.
"They have a pickle dog with mayo and mustard and the salty taste mixed with the hot dog just puts you in heaven.
"It's really what we put on top of the hot dog that's starting to matter. You can really get creative with the flavours and textures," she added.

First romantic kiss most memorable

Be it behind the bike sheds or at the school disco, you are more likely to remember your first romantic kiss with your partner than even losing your virginity.

But, the art is so complex that scientist Sheril Kirshenbaum has written a book about it. In The Science of Kissing: What Our Lips Are Telling Us, Kirshenbaum writes that men see kissing “as a means to an end” and possibly with a “view to swapping other bodily fluids later.”

Women try to “extricate the significance of a relationship based on a single kiss and often that leads to miscommunication.”

Men are more aggressive kissers, as they are trying to pass on a “testosterone bomb” to a lover. However, testosterone passed on during sessions of smaller but frequent kisses stays in the body longer, and can push a woman to falling in love more quickly.

The author, a researcher at the University of Texas, measured the magnetic current in brains of men and women in response to images of people kissing.

ICC World Cup 2011

Cricket Schedule of ICC World Cup 2011. Fixtures of Cricket World Cup 2011 schedule has been announced. The first schedule match of ICC World Cup 2011 between India vs Bangladesh begins Feb 19, 2011 onwards. Keep viewing CriSchedule for latest updates on Cricket Schedule and Fixtures of upcoming ICC World Cup 2011.

Good times are here for India. The country will get to host the tenth world cup of its most loved sport in 2011 along with co-hosts Sri Lanka and Bangladesh. It will be the first time co-hosting for Bangladesh in a cricket world cup. Fourteen national teams are scheduled to compete for the coveted cup between February and early April 2011. According to the announced fixtures of ICC World Cup 2011, the first match will be played among co-hosts India and Sri Lanka at Sher-e-Bangla National Stadium in Mirpur.

The formerly announced time-table of 2011 world cup also included Pakistan as a co-hosting nation but the 2009 attack on Sri Lankan cricket team at Lahore which left seven players injured, forced the world cup governing body (ICC) to strip off Pakistan of its co-hosting rights on Apr 17, 2009. India will now host 29 of the total 49 planned matches including the all important grand final at Wankhede stadium in Mumbai and one semi-final as well. Sri Lanka will host 12 matches while the first time nation Bangladesh has been given the opportunity to host the tournament opener along with eight other matches. Since India has been allotted the highest number of matches, the ICC has moved its headquarters to Mumbai to ensure smooth and timely preparations for the event. Mr. Ratnakar Shetty has been appointed as the managing director of the event, while the security directorate will be headed by Mr. Shashank Manohar of BCCI.

The allocation of world cup venues is always a much sought after event with major cricketing nations bidding for hosting rights. To avoid favoritism, the ICC prefers to rotate venues between major cricket playing nations. In the bidding for the 2011 event, Australia/New Zealand had an upper hand over the trio of India, Sri Lanka and Bangladesh as they had not had a chance to host the World cup since 1992. But Indias argument that the trio being a bigger group of countries helped clinch the final deal. The 2015 cricket world cup will be held in Australia/New Zealand.

Cricket world cup organized every four years is the fourth largest and one of the most eagerly awaited and viewed event of the cricket world. It is widely considered to be the pinnacle of achievement in this sport. The excitement among fans is already palpable as the first phase of tickets was put for sale in Mumbai on 1 June 2010. Priced affordably at around 20 US cents, the organizing committee is expecting to reap in bumper sales and not diminish the euphoria of fans. The new revised format of the world cup wherein 14 teams instead of 16 will be participating also ensures that fans get to see their favorite teams play a minimum of six matches even if they are ruled out of the tournament due to early defeats.

Cricket fan or not- there is no way you can escape the all-engulfing madness. From cricket merchandise at stores to travel packages to host nations and restaurants and cafes serving cricket-themed food, the fever is all over. Personal relationships too are not unaffected by the craze. While the love for cricket unites some, it also spells doom for many relationships. There is simply no running away, so prepare to drown yourself in the drone of cricket slogans in the year to come.

So, Get the latest ICC World Cup 2011 Schedule to be played in 2011. The world cup 2011 schedule will begin on Feb 19, 2011. Cricket World Cup 2011 schedule will have 14 teams, out of which 10 would be of test rank status.

ateLocalGMTISTMatch DetailsVenue
Feb 12, 201109:3004:0009:30Kenya vs West Indies, 1st Warm up ODIColombo
Feb 12, 201109:3004:0009:30Sri Lanka vs Netherlands, 2nd Warm up ODIKandy
Feb 12, 201114:3008:3014:00Bangladesh vs Canada, 3rd Warm up ODI Day Night MatchChittagong
Feb 12, 201114:3009:0014:30Ireland vs New Zealand, 4th Warm up ODI Day Night MatchNagpur
Feb 12, 201114:3009:0014:30South Africa vs Zimbabwe, 5th Warm up ODI Day Night MatchChennai
Feb 13, 201114:3009:0014:30India vs Australia, 6th Warm up ODI Day Night MatchBangalore
Feb 15, 201109:3004:0009:30Ireland vs Zimbabwe, 7th Warm up ODINagpur
Feb 15, 201109:3004:0009:30Kenya vs Netherlands, 8th Warm up ODIKandy
Feb 15, 201114:3008:3014:00Bangladesh vs Pakistan, 9th Warm up ODI Day Night MatchMirpur
Feb 15, 201114:3009:0014:30Australia vs South Africa, 10th Warm up ODI Day Night MatchBangalore
Feb 16, 201109:3003:3009:00Canada vs England, 11th Warm up ODIMirpur
Feb 16, 201109:3004:0009:30Sri Lanka vs West Indies, 12th Warm up ODIColombo
Feb 16, 201114:3009:0014:30India vs New Zealand, 13th Warm up ODI Day Night MatchChennai
Feb 18, 201114:3008:3014:00England vs Pakistan, 14th Warm up ODI Day Night MatchMirpur
Feb 19, 201114:3008:3014:00Group B : Bangladesh vs India, 1st ODI Day Night MatchMirpur
Feb 20, 201109:3004:0009:30Group A : New Zealand vs Kenya, 2nd ODIChennai
Feb 20, 201114:3009:0014:30Group A : Sri Lanka vs Canada, 3rd ODI Day Night MatchHambantota
Feb 21, 201114:3009:0014:30Group A : Australia vs Zimbabwe, 4th ODI Day Night MatchAhmedabad
Feb 22, 201114:3009:0014:30Group B : England vs Netherlands, 5th ODI Day Night MatchNagpur
Feb 23, 201114:3009:0014:30Group A : Pakistan vs Kenya, 6th ODI Day Night MatchHambantota
Feb 24, 201114:3009:0014:30Group B : South Africa vs West Indies, 7th ODI Day Night MatchDelhi
Feb 25, 201109:3003:3009:00Group B : Bangladesh vs Ireland, 8th ODIMirpur
Feb 25, 201114:3009:0014:30Group A : Australia vs New Zealand, 9th ODI Day Night MatchNagpur
Feb 26, 201114:3009:0014:30Group A : Pakistan vs Sri Lanka, 10th ODI Day Night MatchColombo
Feb 27, 201114:3009:0014:30Group B : India vs England, 11th ODI Day Night MatchKolkata
Feb 28, 201109:3004:0009:30Group A : Canada vs Zimbabwe, 12th ODINagpur
Feb 28, 201114:3009:0014:30Group B : West Indies vs Netherlands, 13th ODI Day Night MatchDelhi
Mar 1, 201114:3009:0014:30Group A : Sri Lanka vs Kenya, 14th ODI Day Night MatchColombo
Mar 2, 201114:3009:0014:30Group B : England vs Ireland, 15th ODI Day Night MatchBangalore
Mar 3, 201109:3004:0009:30Group B : South Africa vs Netherlands, 16th ODIMohali
Mar 3, 201114:3009:0014:30Group A : Pakistan vs Canada, 17th ODI Day Night MatchColombo
Mar 4, 201109:3004:0009:30Group A : New Zealand vs Zimbabwe, 18th ODIAhmedabad
Mar 4, 201114:3008:3014:00Group B : Bangladesh vs West Indies, 19th ODI Day Night MatchMirpur
Mar 5, 201114:3009:0014:30Group A : Australia vs Sri Lanka, 20th ODI Day Night MatchColombo
Mar 6, 201109:3004:0009:30Group B : South Africa vs England, 21st ODIChennai
Mar 6, 201114:3009:0014:30Group B : India vs Ireland, 22nd ODI Day Night MatchBangalore
Mar 7, 201114:3009:0014:30Group A : Canada vs Kenya, 23rd ODI Day Night MatchDelhi
Mar 8, 201114:3009:0014:30Group A : Pakistan vs New Zealand, 24th ODI Day Night MatchKandy
Mar 9, 201114:3009:0014:30Group B : India vs Netherlands, 25th ODI Day Night MatchDelhi
Mar 10, 201114:3009:0014:30Group A : Sri Lanka vs Zimbabwe, 26th ODI Day Night MatchKandy
Mar 11, 201109:3004:0009:30Group B : West Indies vs Ireland, 27th ODIMohali
Mar 11, 201114:3008:3014:00Group B : Bangladesh vs England, 28th ODI Day Night MatchChittagong
Mar 12, 201114:3009:0014:30Group B : India vs South Africa, 29th ODI Day Night MatchNagpur
Mar 13, 201109:3004:0009:30Group A : New Zealand vs Canada, 30th ODIMumbai
Mar 13, 201114:3009:0014:30Group A : Australia vs Kenya, 31st ODI Day Night MatchBangalore
Mar 14, 201109:3003:3009:00Group B : Bangladesh vs Netherlands, 32nd ODIChittagong
Mar 14, 201114:3009:0014:30Group A : Pakistan vs Zimbabwe, 33rd ODI Day Night MatchKandy
Mar 15, 201114:3009:0014:30Group B : South Africa vs Ireland, 34th ODI Day Night MatchKolkata
Mar 16, 201114:3009:0014:30Group A : Australia vs Canada, 35th ODI Day Night MatchBangalore
Mar 17, 201114:3009:0014:30Group B : England vs West Indies, 36th ODI Day Night MatchChennai
Mar 18, 201109:3004:0009:30Group A : Ireland vs Netherlands, 37th ODIKolkata
Mar 18, 201114:3009:0014:30Group A : Sri Lanka vs New Zealand, 38th ODI Day Night MatchMumbai
Mar 19, 201109:3003:3009:00Group B : Bangladesh vs South Africa, 39th ODIMirpur
Mar 19, 201114:3009:0014:30Group A : Pakistan vs Australia, 40th ODI Day Night MatchColombo
Mar 20, 201109:3004:0009:30Group A : Zimbabwe vs Kenya, 41st ODIKolkata
Mar 20, 201114:3009:0014:30Group B : India vs West Indies, 42nd ODI Day Night MatchChennai
Mar 23, 201114:3009:3015:00TBC vs TBC, 1st Quarter Final ODI Day Night MatchMirpur
Mar 24, 201114:3010:0015:30TBC vs TBC, 2nd Quarter Final ODI Day Night MatchColombo
Mar 25, 201114:3009:3015:00TBC vs TBC, 3rd Quarter Final ODI Day Night MatchMirpur
Mar 26, 201114:3010:0015:30TBC vs TBC, 4th Quarter Final ODI Day Night MatchAhmedabad
Mar 29, 201114:3010:0015:30TBC vs TBC, 1st Semi Final ODI Day Night MatchColombo
Mar 30, 201114:3010:0015:30TBC vs TBC, 2nd Semi Final ODI Day Night MatchMohali
Apr 2, 201114:3010:0015:30TBC vs TBC, The Final ODI Day Night MatchMumbai