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FINANCIAL
HYDERABAD, FRIDAY, DECEMBER 7, 2012

Page anchored by Aazar Anis

mySPACE
Rank

KNOWLEDGE, CAREERS, ENTREPRENEURSHIP OPPORTUNITIES ,

The high & mighty
The Forbes list comprises 71 heads of state, CEOs, entrepreneurs and philanthropists

Manmohan, SMARTMOVES Sonia among Forbes top 20 most powerful

PRESS TRUST
New York
OF INDIA

Name/Title Organisation Age Barack Obama

President United States 51

Rank

Name/Title Organisation Age Carlos Slim Helu & family

Honorary chairman Amrica Mvil

1 2 3 4 5 6 7 8 9 10

11 12 13 14 15 16 17 18 19 20

72

Angela Merkel
Chancellor Germany

Sonia Gandhi
President, Indian India National Congress

Equifax picks up majority stake in NettPositive

PRESS TRUST OF INDIA
Bangalore

WHATSINIT 4 me
THE governments of the United States of America (through the department of state) and India (through the department of science & technology) have established the United States - India Science & Technology Endowment Fund for promotion of joint activities that would lead to innovation and technopreneurship through the application of science and technology. The aim of the fund is to support and foster joint applied research and development to generate public good through commercialisation of technology achieved through sustained partnerships between US and Indian researchers and entrepreneurs. The programme is coordinated and administered through the bi-national Indo-US Science & Technology Forum (IUSSTF). Proposals will be considered on basis of peer-reviews conducted both in India and United States towards Award. www.indousstf.org

58

65

TECH endowment fund

Five eclipses in 2013

Year 2013 will witness five eclipses, at least two out of which will be visible in India. A partial lunar eclipse on April 25 and a penumbral lunar eclipse on October 18 would be seen.

QInvest sells ABE stake to ITE

The leading Qatari investment bank, has sold its stake in Asian Business Exhibitions to ITE, the London-listed global trade exhibition organiser focused on emerging markets.

Zynga into real-money gaming

Social games pioneer Zynga has confirmed on Wednesday that it has taken a babystep into real-money gaming in the state that is home to casino-rich Las Vegas.

US, others smash cyberfraud ring

US officials said on Wednesday that they had taken down a global cyberfraud ring and charged six Romanians and one Albanian in a scheme selling non-existent goods on the web.

PRIME minister Manmohan Singh and Congress president Sonia Gandhi have been named among the top 20 most powerful persons in the world by Forbes magazine in its annual power rankings which placed US President Barack Obama as number one for a second year in a row. Indias richest businessman Reliance Industries chairman Mukesh Ambani and and Arcelor Mittal CEO Lakshmi Mittal also feature in the list that comprises 71 mighty heads of state, CEOs, entrepreneurs and philanthropists who truly run and shape the world of 7.1 billion people. Gandhi dropped a notch from last years list and ranks at number 12 this year ahead of Chinese vice-premier Li Keqiang and French President Francois Hollande. Forbes said the leader of Indias ruling political party has the reins of the worlds second-most-populous country and 10th-largest economy. Son Rahul is next in line to take over Indias most famous political dynasty, it added.

Vladimir Putin
President Russia

Li Keqiang
Vice premier China

60

57

Bill Gates
Co-chair Bill & 57 Melinda Gates Foundation Roman Catholic 85 Church

Francois Hollande
President France

58

Pope Benedict XVI

Pope

Warren Buffett
CEO Berkshire Hathaway

82

Ben Bernanke
Chairman, Fed Reserve United States 58

Michael Bloomberg
Mayor, New York City United States 70

Abdullah bin Abdul Aziz al Saud King Saudi Arabia 88

Michael Duke
CEO Wal-Mart Stores

62

Mario Draghi
President European 65 Central Bank

Dilma Rousseff
President Brazil

64

Xi Jinping
General secretary, China Communist Party

Manmohan Singh
Prime minister India

59

80

David Cameron
Prime minister United Kingdom

Sergey Brin
Cofounder, director Google of special projects

46

39

H&R Johnson plans unit in WB

Tiles maker H&R Johnson (India) said it is looking to set up a new manufacturing facility in West Bengal in order to meet demand from the Eastern part of India.

Mahindra Navistar Shiksha to train mechanics

G BALACHANDAR
Chennai

Aspirin resistance false diagnosis

A study that suggests a false diagnosis may be unnecessarily raising the number of people given costlier prescription drugs to lower heart attack risk and stroke.
Compiled from agencies

AMID growing expectations on service quality at vehicle dealerships, Mahindra Navistar Automotives (MNAL), one of the new entrants into the Indian medium and heavy commercial vehicle industry, has unleashed a new initiative called MN Shiksha to churn out

trained pool of mechanics for trucking industry as also for its dealerships through tie-ups with industrial training institutes (ITIs). MN Shiksha technical training initiative has been launched at an ITI in Cochin, Kerala. The Shiksha programme, which will be part of the theory and practical classes of ITIs, has been planned to help enhance the

knowledge and skills of the technicians on present day vehicles technology and make them job-ready for the industry. Mechanics who have an education through technical school have basic understanding and are able to demonstrate a better skill level, Nalin Mehta, managing director, MNAL told Financial Chronicle.
[email protected]

US-BASED consumer credit reporting agency Equifax has acquired 51 per cent stake in Bangalore-based data analytics and business intelligence startup NettPositive for an undisclosed sum. Equifax, which organises and assimilates data on more than 500 million consumers and 81 million businesses worldwide, will use NettPositives operations and services to tap the Indian market. Their analytical expertise and business intelligence leadership will enable Equifax to continue to differentiate and deepen its footprint in the Indian market, said Shahid Charania, Equifax managing director of emerging markets. This week, US technology services provider Computer Sciences Corp sold its credit services unit to Equifax for $1 billion in cash. Charania said integrating NettPositives business intelligence capabilities and analytical software solutions will enable Equifax to strengthen its in-country credit reporting capabilities, drive sustainable growth, and innovate into additional emerging markets. NettPositive founded by IIM-Bangalore alumni Viraj Tyagi and Nitin Gupta in 2007 is engaged with over 25 financial services, retail firms and telecom companies across developed and emerging markets. NettPositive has a proven engagement model specific to the emerging markets; this combined with Equifaxs data assets will be a robust proposition to customers in India and other emerging markets, said Viraj Tyagi, MD of NettPositive.

Sukanto

HITACHI scholarship

Instagram removes key elements from Twitter

ALEXEI ORESKOVIC & GERRY SHIH
Reuters

SOFIA MENCHU & LOMI KRIEL

Reuters

SAN FRANCISCO: Facebooks recently acquired photo-sharing service Instagram removed a key element of its integration with Twitter, signaling a deepening rift between two of the webs dominant social media companies. Instagram chief executive Kevin Systrom said Wednesday his company turned off support for Twitter cards in order to drive Twitter users to Instagrams own website. Twitter cards are a feature that allows multimedia content like YouTube videos and Instagram photos to be embedded and viewed directly within a Twitter message. The move marked the latest clash between Facebook and Twitter since April, when Facebook, the worlds No. 1 social network, outbid Twitter to nab fast-growing Instagram in a cash-and-stock deal valued at the time at $1 billion. The acquisition closed in September for roughly $715 million, reflecting Facebooks recent stock drop. The companies ties have been strained since. In July, Twitter blocked Instagram from using its data to help new Instagram users find friends. Beginning earlier this week, Twitters users began to complain in public messages that Instagram photos did not seem to display properly on Twitters website.

GUATEMALA CITY: Guatemalan police arrested US software guru John McAfee on Wednesday for illegally entering the country and said it would seek to expel him to neighbouring Belize, which he fled after being sought for questioning over his neighbours murder. McAfee, who had been in hiding for three weeks, crossed into Guatemala with his 20-year-old girlfriend to evade authorities in Belize who wanted to quiz him as a person of interest about the killing of fellow American Gregory Faull. He entered the country illegally and we are going to seek his expulsion for this crime, interior minister Mauricio Lopez Bonilla said. McAfee was detained by Guatemalan police and a member of Interpol at the upscale Intercontinental hotel in Guatemala City. One of Silicon Valleys

McAfee detained in Guatemala Naya Ventures lines up `250 cr for India

immigration department, said immediate deportation had been ruled out. McAfees lawyer Telesforo Guerra was seeking an injunction to have him released and the American said on his blog w w w. w h o i s m c a f e e . c o m that he would not now be returned to the Belize border until a higher judge reviewed the case. McAfee was taken to a residence belonging to the immigration department guarded by a small group of police. He had been seeking political asylum in Guatemala, which has been embroiled in a longrunning territorial dispute with Belize. Residents and neighbours on the Caribbean island of Ambergris Caye, where McAfee has lived in Belize for about four years, say he is eccentric, impulsive, volatile and at times unstable, citing his love of guns and young women. B KRISHNA MOHAN
Hyderabad

HIDE & SEEK: Software firm founder John McAfee sits after being arrested in Guatemala City for entering the country illegally

first entrepreneurs to build an internet fortune, the 67year-old made millions of dollars through the antivirus software that now carries his name. McAfees behaviour has been increasingly erratic in recent years but there is no international arrest warrant for him. Police in Be-

lize say he is not a prime suspect. Government spokesman Francisco Cuevas said the entrepreneur would be expelled to Belize and he expected the process to be completed by early Thursday morning. Fernando Lucero, spokesman for Guatemalas

Venture capital firm Naya Ventures has announced a Rs 250 crore ($50 million) fund for investing in earlystage companies in mobile and cloud segments. In operation for a year now, the Dallas-headquartered firm has so far invested in seven firms and will announce a second fund in about 18 to 24 months, according to the funds managing partner Dayakar Puskoor, an ex-Microsoft executive. It has offices in Silicon Valley, Seattle and Hyderabad. Naya Ventures will provide capital to early-stage companies and also handhold them. Its portfolio companies have now gone to Series A or B funding, he said. We are not an incubator model. We will work together with our portfolio compa-

nies to identify areas to build value, he said. Naya has invested in BoxFish, shopping app Zoomingo, GPS-location sharing app Glympse and others. Menlo Ventures, Benaroya Capital, Seapoint Ventures, Intel Capital, Deutshe Telecom Ventures, Ignition and Rally Capital are the co-investors in Nayas portfolio companies. Naya is evaluating some companies and is likely to sign deals with three companies in a month or so, Puskoor said, adding that it has already got some commitments for the second fund. The mobile industry has a large subscriber base and is now undergoing a transformation. This is opening up new opportunities for technology and investment, Puskoor said.
krishnamohan @mydigitalfc.com

IN ASSOCIATION with Hitachi, Tokyo, Japan, The Hindu invites applications for scholarships for technical training in Japan. The number of scholarships will be three. Candidates must be Indian citizens, should not have completed 30 years of age and should be in possession of the minimum degree of BE, or BSc (Engg) or its equivalent from any recognised university. Candidates who have already had practical experience in the branches, for which training is proposed to be given, will be given preference. Candidates with at least one years professional experience need to apply. The scholarships are tenable in Japan for principally six months commencing about July 2013. Trainees may have general training in one of the following product fields of Hitachi, (Hitachi) for example (1) IT solutions and services (2) Thermal Power (3) Power Generation Plant & Power Grid Control Systems Engineering 4) Rail Systems and 5) Transportation Control System Engineering, being subject to the convenience of each of Hitachis establishments. www.scholarships india.com
mail to: [email protected]

Elisabeth Murdoch, philanthropist mother of Rupert, dies at 103

NICHOLA SAMINATHER
Bloomberg

DAME Elisabeth Murdoch, one of Australias leading philanthropists and the mother of News Corp chairman and chief executive officer Rupert Murdoch, has died. She was 103. She died on Wednesday at her home near Melbourne, according to a statement from News Corp. No cause was given. She had suffered a fall there in September, the Wall Street Journal, which is owned by News Corp, reported. Dame Elisabeth was absolutely a remarkable person, Lachlan Murdoch, her grandson and chairman of Australian broadcaster Ten Network Holdings (TEN), said at the companys annual shareholder meeting

in Sydney. She was the closest person to a saint, in my view. I think she lived a beautiful life and a very meaningful life and she passed away peacefully. Murdoch devoted her life to numerous causes, including Melbournes Royal Childrens Hospital and the National Gallery of Victoria. She supported more than 110 charities well past the age of 90. My lifes been so full, she was quoted as saying in Neil Chenoweths 2001 book about her son, Virtual Murdoch. I think thats been fortunate, but thats something to do with ones nature. I dont waste time. She was both proud and slightly embarrassed of her sons business success. Rupert, who is 81 and worth $10.2 billion,

GOOD TIMES: Rupert Murdoch alongside his mother at the opening of a new office building named after his father Keith Murdoch, in Australia in 2005

according to the Bloomberg Billionaires Index, inherited an Adelaide newspaper after Keiths death in 1952 and built up a glob-

al media empire, including Britains Sun newspaper, the New York Post, the Wall Street Journal and Fox television in the US.

What is more important to me is that my family are caring and useful citizens, Murdoch said in a 2005 interview on stateowned Australian Broadcasting Corp. To my mind, thats how you measure their success. Using her wealth and time to support benevolent causes earned her widespread respect in Australia. Elisabeth Murdoch was asked to join the Royal Childrens Hospitals management committee in 1933 and was its president from 1954 to 1965. In 1986, she helped establish the Murdoch Childrens Research Institute, which looks into the prevention and treatment of infant health problems. Murdoch was also the first female trustee of the National

Gallery of Victoria and a fellow of the Australian chapter of the Royal Society for the Encouragement of Arts. She was a patron of the Deafness Foundation of Victoria and the Victorian Tapestry Workshop, which has woven tapestries for Parliament House in Canberra and the Sydney Opera House. Murdoch was honoured as a Companion of the Order of Australia, the nations highest merit, for her work as a patron of the arts. She also received an honorary degree of doctor of laws at University of Melbourne for her public service, and was named Victorian of the Year in 2005. Queen Elizabeth II in 1963 made her Dame Commander of the Most Excellent Order of the British Empire for her work with the Royal Childrens Hospital.