Good Morning India!

The Secret of changer is to focus all of your energy not on fighting the old but on building the new!

                                                                                                                                             Socrates

Thieves steel entire Bridge in Western Turkey!

Earlier this month, the inhabitants of a small village in the Golcuk district of the Turkish province of Kocaeli awoke to find something different.
The village’s main bridge over a local creek — all 22 tons of it — was gone.
According to the Turkish publication Today’s Zaman, the dumbfounded villagers, who used the bridge to reach their orchards, alerted police about the theft on March 11. Police suspected that thieves dismantled the 82-ft.-long span to sell it as scrap metal — probably for about $12,000, noted Gizmodo. Authorities are still investigating the matter.
(MORE: Thieves Steal an Entire Metal Bridge in Pennsylvania)
As for the villagers, life is indeed a hassle without the bridge. One resident, Mustafa Karakas, told a Turkish news agency that they now have to take their socks off and wade across the creek in order to tend the plantations, according to Today’s Zaman.
This is not the first time that an entire bridge has vanished. In May 2012, a group of thieves used a crane to dismantle a 10-ton steel pedestrian bridge and about 218 yards of railway track in the Czech Republic, reported Agence France-Presse. The thieves duped police officers with a forged document saying they were working on a bicycle path. And in 2011 two thieves armed with a blowtorch stole a 70-year-old bridge in broad daylight about 50 miles northeast of Pittsburgh; they reportedly made $5,100 off the 15.5 tons of steel, according to the Wall Street Journal.

Read more: http://newsfeed.time.com/2013/03/21/thieves-steal-entire-bridge-in-western-turkey/#ixzz2OPyAcDLy

                                                                                            Taken from Internet

Good Morning India!

Nice words from the experienced:-

God is like Oxygen! You can't see Him, but you cannot live without Him!

The purpose of life is not to be Happy! It is to be Useful,  to be Honorable, to be Compaasionate, to have it make some difference, that you Lived and Lived well !

Rumors are Carried by Haters, Spread by Fools & Accepted by Idiots!


                                                                                              Received as Forwards!

Good morning India!

If you salute your duty, you no need to salute anybody!
But, if you pollute your duty, you have to salute every body!

                                                               ........ Wise words from Dr. APJ Abdul Kalaam,
                                                                     

Good Morning India!

Good Morning India!

TODAY IS NOT JUST ANOTHER DAY!    IT'S A NEW OPPORTUNITY,
                     ANOTHER CHANCE,    A NEW BEGINNING!
                                                 EMBRACE IT!

Good Morning India!

School Under Bridge In New Delhi Offers Free Education To Poor!

School Under Bridge In New Delhi Offers Free Education To India's Poor Children ::::

One Indian man has become a hero after he began educating New Delhi's poorest children -- and even went as far as creating a free school for them under a metro bridge.

According to NBC News, Rajesh Kumar Sharma teaches at least 30 children every day. Most of the children come from neighboring poor villages.

For two hours every weekday, Sharma leaves his day-job at a general store in Shakarpur -- his brother fills in for him -- so that he can teach the children, reported Yahoo News.

Sharma, a 40-year-old father of three from Aligarh, was forced to drop out of college in his third year due to financial difficulties. When he decided to start the free school, he didn't want other children to face the same difficulties he had.

“Whenever I passed by this area, I would notice that children were spending all their time in the fields or playing around,” he told the Indian Express.

He eventually persuaded local laborers and farmers to allow their children to attend his school instead of working to add to the family income. He hopes to equip these children with the tools necessary to overcome their poverty.

"They come here everyday. I manage to keep them ahead of the school curriculum," Sharma told the Indian Express.

He even allows children technically too young to attend the government school to sit in the classroom..

Sharma starts at the basics and helps prepare the children for admission to government schools. When he started the school a year ago, he had 140 students. Now 70 of them are in government schools, reported Yahoo News.

"Our teacher has told us that when poverty strikes, you should open your mind, and that can be done only through education," Abhishek, 15, a student of Sharma's told the Indian Express.

His work isn't limited to the school under the bridge, though. Sharma has been teaching underprivileged children in other parts of the city as well.

“I mostly taught laborers’ children. As they moved from site to site, it got difficult to follow them everywhere,” he said.

Laxmi Chandra, a postgraduate in science, also helps out at the school.

“I don’t take attendance. They love coming here because there are no school-like boundaries. In fact, I want to keep it like that,” Chandra told the Indian Express.

Sharma says his greatest achievement is changing the attitude of his students' parents. Many of them now encourage their children to study.

“They understand that if children in the villages in the interiors of the country can go to schools, why not in the national capital.”                                                   

                                                                                      Courtesy:- Internet

Good Morning India!

Ultimate Guide Currency ETF Trading:-
ETFs have opened up the doors to previously hard-to-reach reach corners of the market, including foreign equities, commodities and alternative asset classes. Currency ETFs in particular have seen growing interest among investors and traders alike as they greatly simplify the challenges that are otherwise associated with entering the forex market .

How Currency ETFs Work

Currency ETFs attempt to replicate the movements of a currency on the foreign exchange market (forex) against the U.S. dollar (USD), or a basket of currencies. This is done by using cash deposits, such as holding euros or Swiss cash for example, or through the use of futures and swaps contracts to achieve a desired exposure .

If you believe the euro, other active global currency or a basket of currencies will rise or fall relative to the USD, currency ETFs provide a way to capitalize on that. When you purchase a currency ETF you’re betting the price of the currency will rise – short-sell it and you’re betting the price will drop. It is a quick way to capitalize on forex moves without opening a separate forex trading account, which has its own rules, regulations, fees/spreads and brokers.

What’s the Difference?

There are two main types of currency ETF products: those that reflect a specific currency versus the USD, and those that reflect a basket of currencies against the USD.

A currency-specific ETF, such as the CurrencyShares Euro Trust (FXE) tracks the euro/USD forex pair. Figure 1 shows how well the ETF has matched the movements of the euro/USD (pink) over an eight-month period.

Figure 1. FXE versus Euro/USD: Daily Chart – Percentage Scale

A currency basket ETF on the other hand, such as the Dreyfus Emerging Currency Fund (CEW), invests in multiple currencies relative to the USD. In this case, the ETF will increase in value if these currencies on average perform better than the USD .

Figure 2 is list of currency-specific exchange-traded-products (ETPs).

Ticker	Currency	Expense Ratio
FXE	Euro	0.40%
FXY	Japanese Yen	0.40%
FXA	Australian Dollar	0.40%
FXC	Canadian Dollar	0.40%
CYB	Chinese Yuan	0.45%
FXF	Swiss Franc	0.40%
BZF	Brazilian Real	0.45%
FXB	British Pound	0.40%
ICN	Indian Rupee	0.45%
FXS	Swedish Krona	0.40%
FXSG	Singapore Dollar	0.40%

Figure 2. Currency-Specific Funds

Figure 3 highlights currency basket ETPs.

Ticker	Basket	Expense Ratio	Strategy
UUP	United States Dollar (Bullish) vs. Basket	0.50%	Buys only USD futures contracts relative to other major currencies (basket).
CEW	Emerging Currency	0.55%	Invests in emerging currency markets
DBV	G10 Currency Harvest	0.81%	Goes long futures in highest G10 interest rate currencies, and short futures in the lowest interest rate currencies
CCX	Commodity Currency	0.55%	Invests in commodity-related currencies
ICI	Currency Carry	0.65%	Invests in high yielding G10 currencies by borrowing in low-yielding G10 currency markets–carry trade.
AYT	Asia 8	0.89%	Invests in the 8 currency markets of Asia
PGD	Asian & Gulf Currency Revaluation	0.89%	Invests in 5 currencies: Hong Kong, Singapore, Saudi Arabia, United Arab Emirates and China

The different products offer varying risk and opportunity levels, and they provide a wide range of exposure to different currencies. Baskets invest in multiple currencies, and therefore should theoretically have more price stability than a currency-specific product, although that doesn’t mean currency basket products don’t experience volatility – at times these baskets of currencies can be very volatile if affected by a regional event or news. One type of product is not better than the other, but each investor must thoroughly critique what they are seeking, and the risks they can accept, before deciding which product is the right fit.

Forex 101

The currency markets allow global commerce to run smoothly, facilitating the transfer of products and services from one place to another. According to the 2010 Bank for International Settlement data (the next report is expected in 2013), global foreign exchange volume is estimated at $3.98 trillion per day, or about $83 trillion per month. Much of this is speculation, as global world product (GWP)—the global equivalent of GDP—is estimated at $69 -79 trillion per year. Much of the volume that occurs above the actual trade of goods and services is speculation, and can cause significant volatility, very long-term trends and rapid changes in direction .

The forex market is very sensitive to news releases that may change people’s view of a currency going forward. Interest rate and Federal Reserve announcements as well as economic data releases typically have the largest impact in this regard. Below we highlight some of the major data/news releases that affect the forex market. In the moments before and after these announcements hit the market, expect increased volatility and wider bid-ask spreads in the currency ETFs you are trading.

Keep in mind that the news event affecting one currency or country may affect other currencies as well – even those that are seemingly unrelated. Therefore, news events such as those discussed in the next section are noteworthy when released by any major country, and the names of releases may vary by country. Locate an economic calendar that shows all news and data reports scheduled for release in each country to stay on top of news that may affect your currency ETF. Many of these calendars rate the news events, from high to low, according to the expected market impact.

Major News Events And Impacts

Federal Reserve or Central Bank announcements
News releases from banking committees, financial bodies such as treasuries or reserve banks relating to interest rates or economic outlooks can shift perception and are widely watched and traded.

Consumer or Product Price Index (CPI, PPI)
These indexes provide inflation data and therefore provide clues as to interest rate direction, affecting short- and long-term direction in currencies.

Gross Domestic Product (GDP)
This is an indicator of how a country is doing economically and therefore provides valuable fundamental data to currency traders.

New and Existing Home Sales, Retail Sales and Unemployment data
All indicators that provide data on the financial condition of consumers within a country’s economy tend to affect how a country is perceived by global and domestic traders.

Policymaker Speeches
Talks by people in power, such as heads of state, Federal Reserve(s) or Treasury departments can sway markets based on their bullish or bearish comments.

Manufacturing and Construction Data
Looks at growth or contraction in the manufacturing sector; an indicator of economic health.

Trade Balance, Balance of Payments, Current Account and Debt Levels

Numbers that reflect economic health, growth or contraction, which have long-term effects on the demand and supply of a currency.

Geopolitical News

Unscheduled news events play a significant role in inducing fear or greed in investors, causing them to dump one currency, rushing into another. This includes everything from earthquakes to parliamentary elections.

Commodity and Other Market Prices

Commodities and other financial markets are affected by currency rates, and currency rates are affected by changes in other markets. Monitor correlations between asset classes to determine what a drastic change in the commodity or stock complex may do to currencies, or vice versa.

Currency ETF Trading Tips You Need

ETFs listed on the American markets will be active during the U.S. session, but actual currency trades around the clock, with the most activity occurring during the U.S. and London market hours. Since currency ETFs are thinly traded outside of U.S. market hours, be wary of trading the open and close (U.S hours) as sharp movements can occur to bring the ETF back in line with its NAV (net asset value), or large orders may cause a significant deviation from NAV .

Currency ETFs are exposed to frequent opening gaps in price, and ETF traders won’t be able to capture all of the intra-day moves available on the 24-hour forex market. As with any trading vehicle, use stop-loss orders to control downside risk; incorporate limit orders into your trading in attempt to get favorable pricing during peak and off-peak trading times; and take profits using a disciplined technique as currencies can be volatile and change direction quickly.

The Bottom Line

Currency ETFs provide a convenient way for investors to access the forex market through their current stockbroker. Currency ETFs can be divided into two broad categories—currency-specific and basket—each providing unique advantages and disadvantages. Currencies can be volatile due to high speculation and sensitivity to news; as such, closely monitor global news, both scheduled and unscheduled, to stay on top of short- and long-term events that can shape future trends. Always monitor downside risk, and take profits when profit potential looks to be waning.

Read more: http://www.investopedia.com/stock-analysis/etfdatabase/031413/ultimate-guide-currency-etf-trading-fxecewuupfxc.aspx#ixzz2Nl1E6wJk

Courtesy:- INVESTOPEDIA

Good Morning India!

In life, you will realise that there is a role for everyone your meet. Some will test you, Some will use you, some will love you and some will teach you!  But the ones that are important are the ones who bring out the best in you! They are the rare and the amazing people who remind you why it is worth it!!!

                                                       A thought provoking forward received!

 Good Morning India!

Government today said it is examining the way in which the state-owned GIC entered into an arrangement with Warren Buffett's Berkshire Group and its subsequent cancellation within a short period after payment of USD 15.2 million premium towards reinsurance business cover.
General Insurance Corporation of India (GIC) had entered in arrangement with National Indemnity (Berkshire Hathaway) through broker K M Dastur in August, 2012 for pure retrocession (reinsurance) business but cancelled it on December 5.
"GIC has informed that they revisited the arrangement in December, 2012 due to its likely cost implications and hence a conscious decision was taken to cancel the arrangement w.e.f December 5, 2012," Finance Minister P Chidambaram informed Rajya Sabha in a written reply.
He further said, "The process of short listing the brokers, the manner in which the process was carried and the cancellation thereof within a short period are being examined further."
Till cancellation of the arrangement, he said, GIC had made payment of premium for two quarters amounting to USD 15.2 million (Rs 82.4 crore) with coverage risk for the same period.
The Minister was replying to a question on whether K M Dastur in connivance with Berkshire Group has cheated GIC to the tune of Rs 500 crore.
"There was no losses during this period. GIC has informed that it has not suffered any loss to the tune of Rs 500 crore by procuring this cover from Berkshire group through K M Dastur," Chidambaram added.
Narrating the sequence, Chidambaram said that GIC had informed that the unprecedented catastrophes in 2011 contributed to huge losses for GIC.
It was accordingly decided by GIC to accept pure retrocession business from international reinsurance companies only after obtaining adequate protection cover.
For procuring the specialised product it was decided to engaged brokers based on their global presence, experience in pure retrocession line of business, and ability to bring international quotations for such a highly technical cover. Consequently two brokers, K M Dastur and J B Boda were tasked to approach the global reinsurance market.
"Looking into the very limited market for such a cover, only one offer from National Indemnity (Berkshire Hathaway), USA, could be arranged through K M Dastur and the same was accepted w.e.f August 13, 2012," Chidambaram informed.
GIC is engaged in doing reinsurance business both within and outside India. Businesses form outside India include accepting reinsurance business from the global reinsurance companies which is termed as pure retrocession business.
                                                                                          Courtesy:- The Indian Express

Good Morning India!

Chart of the day!

India has seen a 'new normal' at least as far as inflation is concerned, over the past 3 years. The average wholesale price inflation (WPI) during this time frame has been around 8.7%. This against an average WPI of 5.2% between 2001 and 2008. Even in 2009 inflation was benign at 3.8%. However, the inflation levels have stuck well above RBI's comfort zone since then. This has also caused many to argue that probably the RBI should revise its inflation target upwards. This approach will also help the central bank be a little more lenient on monetary policy. However, the RBI has refused to go by this logic. While we understand the RBI's reluctance to accept higher levels of inflation as 'new normal', it cannot turn a blind eye to divergence between WPI and CPI (consumer price inflation). Even as WPI has cooled off in recent months (6.6% in January 2013), India has been amongst countries showing the highest rise in consumer inflation over the past year. Thus the RBI should shed its inflation target in terms of WPI and adopt one in CPI terms instead.

Data source: Economic Survey 2012-13

Courtesy:- Equity Master

Another Blow to Europe:-

As has been pretty much the European story since the crisis strengthened, with Europe’s leaders content to just kick the can down the road, it takes a few weeks after a ‘crisis’ summit/meet for the next crisis to erupt. So barely a month after the ‘last-chance’ summit where, at Angela Merkel’s insistence, Europe continued down the wrong path by plumping for fiscal austerity even in the face of a recession, the next crisis is here. US credit rating firm S&P has downgraded not just France, but 8 other countries as well. Expectedly, France has lost its AAA tag, Italy and Spain have been further downgraded (Italy now has the same status as Kazakhstan), and Portugal is now junk status. Apart from raising the cost of the ¤200 billion that France needs to refinance during the year, this could hurt both Sarkozy’s re-election chances as well as the prospects of necessary French reforms. Again, expectedly, the Greek restructuring talks have broken down and a full-scale default looks likely—most likely this will be in March when it has to redeem ¤14.4 billion in maturing debt. In other words, the possibility of a two-speed Europe once again looks likely, though it still remains unclear as to how countries are to leave the euro, and what happens to them when they do so.

With the downgrade of France and the others (Germany continues with the AAA tag), the real fallout will be on the European Financial Stability Facility as one of its principal sponsors isno longer AAA rated. Which means that either the EFSF will lose its AAA rating or the others like Germany will have to increase their contribution—given the problem got exacerbated by Merkel not wanting to give an unlimited German backstop to weaker European nations, this looks unlikely. How all of this will pan out is uncertain, though the IMF’s January 24 projections will help put a perspective on things. For India, apart from the impact that a recession in Europe will mean for exports—Europe is one of the main reasons for why Infosys lowered its next quarter earnings forecast—the larger issue remains of the funding needs of European banks and the money they have invested in India ($148 billion). It is no one’s case that all of this will go back, but certainly significant sums will be demanded back by European banks. How significant will decide the future trajectory of the rupee.

As appeared in the Editorial of Financial Express

Good Morning India!

Health Benefits Of Ladies Finger !!
*************************
A rich source of dietary fiber, minerals, vitamins; recommended in cholesterol controlling and weight reduction programs.

The rich fiber and mucilaginous content in Ladies Finger pods helps smooth peristalsis of digested food particles and relieve constipation condition.

The pods contain healthy amounts of vitamin A, and flavonoid anti-oxidants such as beta carotene s, xanthin and lutein.

It is one of the green vegetable with highest levels of these anti-oxidants. These compounds are known to have antioxidant properties and are essential for vision. Vitamin A is also required for maintaining healthy mucus membranes and skin. Consumption of natural vegetables and fruits rich in flavonoids helps to protect from lung and oral cavity cancers.

                                                                                                                Courtesy:- Internet

INSPECTION BLUES!..Bankers stuff..Others too welcome!
+++++++++++++========+++++++++++++++++++

Branch Inspection is a fine balance between Precision and Time Management. Most of you must of have seen the Inspection Assistants feverishly hammering the keyboard by the fag end of the inspection. In their anxiety to finish the task, certain typing mistakes creep in unknowingly. Here are some of those funny probables in the Inspection Reports, which are otherwise serious affairs…. No pun intended please... Just enjoy reading them.....and try to find out the correct words…..!!!!

i) The ‘Chef’ Manager is advised to ‘insect’ the unit ….

ii) It is reported, the ‘burrowers’, did not acquire the ‘asses’
out of bank ‘fiance’
iii) The branch has not ‘exorcised’ proper discretion

iv) The official is now a ‘Faulty’ member at the ‘Leaning’ Centre
v) Rectified during the ‘curse’ of Inspection….

vi) The ‘Beard’ Resolution is silent on the additional ‘burrowings’

vii) The Official is on deputation to ‘Not working Department’
viii) ….vide Controllers' ‘massage’ dated…..

ix) The branch is keeping the ATM ‘curds’ and PIN ‘Nailers’ in the custody of
one official….

x) The on-site ‘ATM’ shit’ rate is very low….

xi) The controllers’ were reported to have given “herbal” instructions to the branch……
xii) The borrower’s expected ‘mental’ on the property appears to be on a high side..

xiii) The branch has transferred all its Recalled Assets to ‘Stressed Asses Resolution Centre’….

           Taken from Net

Important Health Tips!

Dr. Brian Berry of the United States has found new cancer in human beings, caused by Silver Nitro Oxide. Whenever you buy recharge cards, don’t scratch with your nails, as it contains Silver Nitro Oxide coating and can cause skin cancer. Share this message with your loved ones.
Important Health Tips:
1. Answer phone calls with the left ear.
2. Don't take your medicine with cold water....
3. Don't eat heavy meals after 5pm.
4. Drink more water in the morning, less at night.
5. Best sleeping time is from 10pm to 4 am.
6. Don’t lie down immediately after taking medicine or after meals.
7. When phone's battery is low to last bar, don't answer the phone, bcos the radiation is 1000 times stronger.
Can you Share this to people you care about?
I just did,
Kindness costs nothing
But Knowledge is power...

Good Morning India!

Wake up every morning with the thought that something wonderful is about to happen !

Shall post with renewed interest!