FACTS & FIGURES 49 3.5 % Finance Minister Datuk Ahmad Maslan said ,”the colateral free loans between RM5,000 to RM50,000 CONSUMER PRICE valued at RM800million in total were part of efforts by INDEX (CPI) FOR THE the federal government to finance micro enterprises PERIOD JANUARY such as grocery shops, motorcycle and car workshops, TO APRIL 2014 tailor shops, food stalls and ‘kerepek’ (cracker) and handicrafts production”.CPI increased by 3.5% compare to same period lastyear as made available by Department of Statistics ----------------------------------------------Malaysia. The notable rise in CPI was caused byincreases in Transport (+5.3%); Food & Non-Alcoholic RM24.6 BILLIONBeverages (+3.9%) and Housing, Water, Electricity,Gas & Other Fuels (+3.6%). Other increases CONTRIBUTEDwere Alcoholic Beverages & Tobacco (+14.1%); BY FRANCHISERestaurants & Hotels (+4.4%); Education (+2.4%); INDUSTRY TO GDPHealth (+2.3%); Recreation Services & Culture(+1.6%) and Furnishings, Household Equipment & A total of 726 franchise companies from variousRoutine Household Maintenance (+1.3%). sectors registered in the country contributed at total of RM24.6 billion or 2.5%, to the country’s gross domestic------------------------------------------- product (GDP) last year. Minister of Domestic Trade, Cooperatives and Consumerism Datuk Seri Hasan US$48 TRILLION Malek said the amount was increase by RM1.0billion from 2012 and government expecting the industry to INVESTMENT contribute RM25.6 billion to GDP next year . He added NEEDED BY 2035 that 58 local franchise brands had spread their business TO MEET WORLD to 53 countries with 1,992 outlets globally. ENERGY NEEDS ----------------------------------------------A special report by Paris based InternationalEnergy Agency (IEA) says more that US$48 Trillion RM2.1BILLION(RM155Trillion) need to be invested to meet worldenergy needs. The report as part of the World Energy FOR AIR ASIA-X TOOutlook series also highlighted that some $53 trillion ACQUIRE SEVEN NEWin cumulative investment in energy supply and in AIRBUSenergy efficiency is required by 2035 to get the worldonto a 2 °C emissions path. Long-haul budget airline Air Asia-X Bhd Chief Executive Officer Azran Osman Rani said,------------------------------------------- “the company will allocated RM2.1Billion in 2014 as capex to acquire seven new Airbus A330-300 aircraft”. RM800 MILLION The airline had received three aircraft as of early June 2014, while the rest would be delivered gradually by year DISBURSED BY end. Each of the aircraft will cost more than RM300 BANK SIMPANAN million and financing would be through debt financing NASIONAL AS MICRO and operating leases, to maintain AirAsia X's cashflow LOANS Azran said. At present AirAsia X is operating 16 A330- 300 aircraft.Bank Simpanan Nasional a statutory body underthe Finance Ministry had financed a total of 36,000micro entrepreneurs as of 30th April 2014. Deputy | JULY 2014
50 SINGAPORE BUSINESS NEWSMANY BUSINESSES UNAWAREOF ASEAN ECONOMIC COMMUNITYASEAN is one year away from its target of achieving a single market but recent surveys suggest that many businesses are unaware of that plan. About half of respondents polled in two separate surveys said they had not even heard of the ASEAN EconomicCommunity (AEC). Business groups in Singapore are doing their bid to change that.The AEC, the regional bloc's pet project, promises freer movement of goods, services,investment, skilled labour and capital flow. But ASEAN's efforts at economic integration mayhave gone under the radar. A survey by the Institute of Southeast Asian Studies found that55% of some 380 firms polled across the region were not aware of the AEC. And Singaporecompanies had the highest level of ignorance - at 86%. The numbers in a separate surveyby the Singapore Business Federation were less staggering. About 38% out of some 1,000 of its members polled were ignorant - with a higherpercentage for small- and medium-sized enterprises than bigger firms. Singapore Business Federation Chief Executive Ho Meng Kit said: \"Whenyou ask the small companies what it (AEC) is, even asking them to identify the 10 ASEAN countries, they may have difficulty (doing it). \"So youneed to educate (them). You need to put it in layman terms (such as) 'what does it mean for you if you are a manufacturer of goods?' 'What doesit mean for you in terms of your market access in specific country?'\" The federation is doing its bid by holding AEC seminars for businesses.And the Association of Small and Medium Enterprises is exploring the creation of ASEAN networks of Singaporean businesses to provide localfirms with know-how and help to tap on the AEC. However, sticking points, like non-tariff barriers and obstacles in liberalising services trade, arehampering the AEC's progress. UOB senior economist Suan Teck Kin said: \"ASEAN members, they are quite wary of opening up their sectors,services - we are talking about, for instance, banking services, insurance, telecommunications...All those are sectors which are still facing a bitof a resistance or a lot more work (needs) to be done.\" Many observers do not expect full integration of ASEAN economies by 2015. But evenif that is the case, partial integration is expected to yield considerable benefits for businesses. Experts say the manufacturing and food andbeverage sectors are just a few which can benefit from freer trade in goods as a result of partial integration.TAKEOVERS AND BUYOUTSSWEEPING THROUGH SINGAPORE MARKET From mall operator CapitaMalls Asia to bulk container firm Goodpack - a flurry of takeovers and buyouts is sweeping through the Singapore market. Market watchers said the trend started in 2013 but has since picked up pace. Chang Tou Chen, managing director and head of banking for Southeast Asia at HSBC, said: \"Some of that is driven by the appetite for consolidation, some of that is driven by opportunity - the opportunity to acquire when someone is selling, and a lot of it is driven by the availability of funding. \"The markets are very liquid - both in the capital markets as well as in the banking market.\" According to Thomson Reuters data, Singapore merger and acquisitions (M&A) announced in the first quarter of this year hit US$12.4 billion, a four- fold increase from the same period a year ago. Amid slowing earnings growth, larger companies with excess cash are looking at mergers and acquisitions as one way to boost earnings. However, they are facing increasing competition from other investors like private equity funds. Last week, private equity firm KKR launched a takeover bid for Singapore-listed Goodpack, and earlier this year, investment firm Temasek raised its stake in agri-commodities trader Olam. Experts said companies in certain industries are more likely to be M&A targets. Khoo Boo Han, a partner at Harry Elias Partnership, said: \"Businesses in food- be it restaurants, or (agri-business) companies like Olam. Perhaps going forward, with the change in the transport sector in Singapore -perhaps the transport sector could see some M&A activity as well.\" But it is not just about chasing growth - there is another perhaps morepressing reason for the increased M&A activity. More developers are opting to take their companies private as the real estate sector reelsfrom property cooling. Robson Lee, a partner at ShookLin & Bok, said: \"These property developers, they are suffering from poor earnings,poor market sentiment, buyers are adopting a wait-and-see attitude. It affects consecutive quarters of profit and loss so it makes sensefor them to consider de-listing. \"Otherwise, if you have unsold units within two years of completion, you got to start paying the governmenttaxes, and that's something which will affect their (earnings).\" Recent privatisation targets include Singapore Land and Hotel PropertiesLimited. Observers said property firms like Wheelock Properties, Ho Bee, and Tuan Sing could be next. | JULY 2014
SINGAPORE BUSINESS NEWS 51 RISE OF ECOMMERCE BENEFIT’S SINGPOST E-commerce is SingPost’s unlikely ally. The Internet may have killed the written letter, but the postman is now raking in cash by delivering virtual parcels. Singpost’s vPOST is the logistics provider that most Singaporeans use for their online purchases, with 31% choosing its services over other logistic providers. A report by CIMB attributed this to SingPost’s affordability and its bilateral agreements with other countries. According to the report, “We find the trends to be favourable for SingPost, given the increasing amount of discretionary spending being channelled into ecommerce. vPOST, an international shipping service provided by SingPost, also appears to have captured the largest market share in Singapore, based on our survey results.” The report further noted that SingPost will stand to benefit more from the rise in e-commerce activities compared to more expensive express couriers. SINGAPORE SEES BRIGHT PROSPECTS IN ISLAMIC FINANCE:MAS Singapore's prospects in Islamic finance look bright, with more funds establishing themselves here to tap the Islamic debt market, the Monetary Authority of Singapore's (MAS) top executive said. \"Singapore is the only non-Muslim majority country among the top 15 countries for Islamic finance,\" MAS Managing Director Ravi Menon said at the opening of the 5th World Islamic Banking Conference Asia Summit that is being held in the city-state. \"More funds continue to be established here, to meet demand from clients in Asia as well as from the Middle East, while several corporations have established sukuk programmes in Singapore to tap the market over the next few years,\" he added. Sukuks are bond-like structures that comply with Islamic investment principles, which prohibit the charging or paying of interest. Mr Toby O'Connor, the CEO of Islamic Bank of Asia said: \"There is a lot of liquidity in the conventional space that the new Islamic products are competing with, but it's a huge opportunity. When you look at the wealth management space, there's a lot of liquidity coming into Singapore, a portion of that will go to Islamic finance, (and) when you look at sukuk, we've seen a number of issuances, programmes being set up\". Syed Abdull Aziz Syed Kechik,Director and CEO of OCBC Al-Amin Bank Berhad added, \"Sukuk has arisen to become a key instrument for cross-border capital flows, drivenby the ever-growing demand for Shariah-compliant investments that transcend borders. The sobering reality, however, remains that the currentdemand for sukuk outweighs supply about twice over\". Islamic finance has been growing by double-digits in recent years, making it one of thestar performers in international finance. The industry has also become more international, as seen from recent sovereign Islamic bond issues bynewcomers Britain and Hong Kong.According to Mr Menon, global Islamic financial assets are estimated to have reached US$1.8 trillion by theend of 2013, up from US$1.5 trillion in 2012. This is a sector that saw double digit growth last year, with more players jumping in to tap growingdemand. \"As more countries cater for Islamic finance, the scope for cross-border Islamic finance increases. We are beginning to see more cross-border sukuk issuance within Asia as well as between the Middle East and Asia,\" he said. In Singapore, Mr Menon said Islamic assets undermanagement have surged nearly fourfold over the last five years. There are now 15 banks in Singapore involved in Islamic banking, double thenumber five years ago. The city-state also had nearly 30 sukuk issuances to date, with seven in 2013 alone, he added. However, Kuala Lumpuris currently the world leader in Islamic sukuk market, accounting for 60 percent of the global total. To tap growing demand, Hong Kong and theUK have recently taken steps to facilitate sukuk issuance. \"These are very important initiatives from an Islamic finance perspective. When youhave a sovereign taking the lead, you then have private sector also following suit. It would lead to other UK corporates looking to raise sukuks,(and then) lead to other corporates from other parts of the world looking to issue sukuks in London and similarly out of Hong Kong,\" said MrWasim Saifi, the Global Head of Islamic Banking in Consumer Banking and CEO of Standard Chartered Saadiq in Malaysia.Industry players saythe increase in trade flows between Asia and the Middle East as well as growing support for Islamic finance will provide significant opportunities.A key to tapping these opportunities lies in driving greater connectivity between the different markets. According to the latest EY report, globalIslamic banking assets are expected to grow to 3.4 trillion US dollars by 2018. In particular, EY identified six rapid growth markets - Qatar,Indonesia, Saudi Arabia, Malaysia, UAE and Turkey (QISMUT). The consultancy expects Islamic banking assets with commercial banks to growat a compound annual growth rate of 19.7% over 2013-2018 across the QISMUT countries, to reach US$1.6 trillion by 2018. Islamic bankingassets in these six countries are set to cross US$662 billion in 2013. | JULY 2014
54 CALENDAR OF EVENTS INTERNATIONAL EVENT1 INTERNATIONAL MODERN HOSPITAL SHOW 1 PENANG INTERNATIONAL Tokyo International Exhibition Center, Tokyo, Japan INDIAN SHOPPING FESTIVAL 2014 16 - 18 Jul 2014 Subterranean Penang International Convention & Exhibition Centre2 CEBU INTERNATIONAL TRAVEL EXPO 25 - 29 Jul 2014 WATERFRONT, Cebu City Hotel, Cebu, Philippines 24 - 26 Jul 2014 2 INTERNATIONAL CONFERENCE ON ADVANCES IN COMPUTING, ELECTRONICS AND ELECTRICAL3 MEDIA TODAY TECHNOLOGY - CEET Chennai Trade Centre, Chennai, India Kuala Lumpur, Malaysia 25 - 27 Jul 2014 2 - 3 Aug 20144 INDIA INTERNATIONAL TRAVEL MART CHENNAI 3 INTERNATIONAL CONFERENCE ON ADVANCES IN Chennai Trade & Convention Centre, Chennai, India MECHANICAL, AERONAUTICAL AND PRODUCTION 25 - 27 Jul 2014 TECHNIQUES - MAPT CONFERENCE Kuala Lumpur, Malaysia5 INTERNATIONAL AGRICULTURE & HORTI EXPO 2 - 3 Aug 2014 Pragati Maidan, New Delhi, India 25 - 27 Jul 2014 4 SARAWAK OIL & GAS EXPO Miri Indoor Stadium, Miri, Malaysia6 MEDIA EXPO-DELHI 20 - 22 Aug 2014 Pragati Maidan, New Delhi, India 01 - 03 Aug 2014 5 FOOD & BEVERAGE EXPO Mid Valley Exhibition Centre, Kuala Lumpur, Malaysia7 DIGITAL SIGNAGE EXPO NEW DELHI 22 - 24 Aug 2014 Pragati Maidan, New Delhi, India 01 - 03 Aug 2014 6 MALAYSIA INTERNATIONAL PROPERTY & INVESTMENT SHOWCASE8 MYANMAR INTERNFIME INTERNATIONAL MEDICAL Mid Valley Exhibition Centre, Kuala Lumpur, Malaysia EXPO, 23 - 24 Aug 2014 Miami Beach Convention Center Miami, USA 06 - 08 Aug 2014 7 INTERNATIONAL SEMINAR ON TECHNICAL AND VOCATIONAL EDUCATION 20149 INDONESIA INTERNATIONAL GLASS PRODUCTS & Universiti Teknologi Malaysia, Johor Bahru, TECHNOLOGY EXPO Johor, Malaysia Jakarta International Expo (JIExpo), Jakarta, Indonesia 25 - 26 Aug 2014 14 - 16 Aug 2014 8 AUSTRALIAN ACADEMY OF BUSINESS AND10 OIL & GAS FIESTA 2014 VIETNAM SOCIAL SCIENCES CONFERENCE 2014 Ho Chi Minh City Hotel Grand Seasons, Kuala Lumpur, Malaysia 22 Aug 2014 25 - 26 Aug 201411 INDIA INTERNATIONAL PRINTING & PACKAGING FAIR 9 THE METALWORKING TECHNOLOGY Pragati Maidan, New Delhi, India & TOOLS EXHIBITION 2014 (MTT KL 2014) 23 - 26 Aug 2014 Tun Razak Hall 1 & 2 27 - 30 Aug 201412 WORLD AYURVEDIC EXPO Hyderabad International Trade Exposition.. 10 MTT EXPO INDONESIA KUALA LUMPUR Hyderabad, India Putra World Trade Centre (PWTC), 26 Aug 2014 Kuala Lumpur, Malaysia 27 - 30 Aug 201413 PLASTICS & RUBBER MYANMAR Myanmar Convention Center, Yangon, Myanmar MALAYSIA EVENT 04 - 06 Sep 201414 INTERNATIONAL WOOD PROCESSING EXHIBITION Myanmar Convention Center, Yangon, Myanmar 04 - 07 Dec 2014| JULY 2014
INTERESTING FACTS 55Today I Learned1. INDIAN MYTHOLOGY: DIFFERENCES BETWEEN GOOD AND BAD MANAGERLORD RAMA KING RAVANA• Built good relationship with everyone • Failed to maintain good relations • Inflexibility. Will not listen to others. Is• Listen attentively to his subordinates completely self-centered• Clarity in team goals • Selfish and no Clarify on Goals • Has a quick temper, easily upset,• Treat Everyone Equally temperamental, or overly sensitive to criticism• Kept his disciples together • Failed to listen and kept key allies togetherGOOD MANAGER BAD MANAGER2. HUNDIS a) Darshani Hundi: This was a demand bill of exchange, payable onHUNDIS – the oldest surviving form of credit instrument presentation according to the usage and custom of thethat was most widespread in the twelfth century, and place.has continued till today. Hundis were used b) Muddati Hundi:• as remittance instruments (to transfer funds from This is a usance bill and is payable after stipulated time or on a given date or on a determinable future one place to another) date or on the happening of a certain stipulated event.• as credit instruments (to borrow money [IOUs]) However, the most important type of muddati hundi• for trade transactions (as bills of exchange) was the jokhami hundi, which was a documentary billThere are few types of Hundis categories into two of exchange corresponding to the present day bill ofdistinctive type namely: lading. This had been in use for centuries and payment was conditional on the safe arrival of goods. - Credit : Reserve Bank of IndiaQUOTE : \"In my opinion, that \"My policy is that even \"When the customer is personal touch and if our price is a little bit satisfied, I get tremendous attention to detail is one higher, the product should satisfaction as well. As a of the biggest reasons be beautiful, of better result the customer became that our customers keep finish and of high quality\" like a family member and returning to us\" - Dr John - Arumugan Perumal, also recommended a lot William Xavier (Hons), MIB MIB Entrepreneur April 2014 of customers to us. This Entrepreneur June 2013 made us extremely happy\" - Sanjana, MIB Personality January 2014 | JULY 2014
56 TECHNOLOGYNanotechnologyin Real-Life an Introduction Nanoscience and Nanotechnology is the study and application of extremely small things which used across other areas of science like Chemistry, Physics, Biology, etc. Nanotechnology primarily involve in the ability to see and control atoms and molecules.The word “Nano” inherits from to narrow down our scope to the Some research says that Nanorobots the Greek language meaning wonderful research and finding on have some spectacular future in “dwarf”. A nanometer in Nanomedicine and other real-time medical treatments once they werescience terms is one billionth of a application of Nanotechnology. In start using it fully and introducedmeter. For a comparison point of medical science Nanotechnology into human body to repair damagedview, it is 40,000 small than the promises to revolutionize drug cells, to deliver the medicine directlythickness of a human hair. Amazing! delivery, gene therapy, diagnostics, into the cell nuclei of the damagedIsn’t it. and other clinical application. cancer cells.As Nanotechnology is very vast NANOMEDICINE AND Overall, Nanomedicine has theand this article doesn’t attempt to NANOROBOTS potential to enable early detectioncover all the areas, but I would like and prevention and to drastically| JULY 2014
TECHNOLOGY 57improve diagnosis, treatment with them could have a capacity of sized oil droplets and coated themand follow-up of many diseases 500,000 gigabytes! Compare that with powerful, proven effectiveincluding cancer. Here the picture with even the latest HDD today, and anti-cancer drugs. Once injected,below shows an illustration, that a you can appreciate the magnitude the nanoparticles conglomerateNanorobot repairing a damaged of the advancement. at locations in cancerous tumorscell. where blood vessel growth occurs. Deprived of nutrition, the tumorsA Nanorobot is repairing a shrink and die – and the results were damaged Red Blood Cell achieved with drug concentrationsby injecting drug directly 1,000 times lower than normally used, thus mitigating toxic and to the cell itself otherwise unpleasant side effects.Nanomedicine can also offer cancer Since the size of today’s silicon chip If research being carried out oncells detection on a much improved memory cards and mechanical hard mice at Northwestern University islevel. Now-days, detection of drives have limited just how small successful, tens of thousands ofcancer requires 1 million cancel our personal electronic devices patients may regain the ability tocells to be present to be discovered. can be, the use of nanotechnology feel, move, and walk with formerlyNanodevices are able to reduce should remove these limits and thus paralyzed limbs. The key lies in tinythat number to 1,000. For example shrink the devices down to the size nano structures that much larger thanimagine that a strand of DNA of a grain of sand. Not only that, the aforementioned nanoparticles,is stretched out like a strand of but the performance of such tiny are still much too small to see withspaghetti, and the Nanorobots that devices could surpass the latest and the unaided eye. What the nanocan “move” on that strand and carry greatest of today, thanks to carbon structures do is guide stem cells inon repairs inside the components nanotubes. The quantum properties nerve tissue to become active axonsof the cells. Wow! Nanomedicine of the tiny nanotubes make them instead of glial cells, which blockis bringing this dream much closer incredibly efficient superconductors axon formation. The recoveringto reality in medical fields to treat and allow electronic devices, even mice at Northwesterns labs may notchronic disease. radios, to shrink without any regard be their old agile selves, but they to heat dissipation. get around quite nicely thanks toAWESOME REAL-TIME nanotechnology.APPLICATIONS OF Ask any cancer patient how to makeNANOTECHNOLOGY chemotherapy more endurable, and DNA is the very stuff of life itself, the number one answer would likely so when reports surfaced thatNanotechnology has a great be “relieve the side effects”. New Japanese scientists had createdpotential to remake the world we chemotherapy techniques involving artificial DNA, a few people pushedlive in, from our morning shave to the use of drug-coated nanoparticles the panic button. Not to worry, thethe future battle fields. A team at promise to do just that. Medical purpose of the project was not toScotland’s University of Glasgow is researchers at the Washington play God (though wouldn’t that becreating molecular switches so small University School of Medicine in fun?), but to play with data – storethat a 1×1 inch storage drive made St. Louis have coated nanometer- data, actually. Biological DNA stores the entire genome of any particular plant, animal or person | JULY 2014
58 TECHNOLOGYvery efficiently in a surprisingly small Ref: technano-blog.com Textile coatings containingspace. Artificial DNA, on the other nanoparticles of titanium oxide orhand, could not only be used to Sticking with military matters, the zinc oxide have, thanks to their hugestore non-biological data but would Israeli Defense Forces are drawing total surface area, an enormousbe immune to the degrading effects on the latest breakthroughs in ability to absorb ultraviolet radiation.of the naturally occurring DNase nanotechnology to update their At the North West German Textileenzyme. The impact on any device weapons. One notable application Research Centre (Deutschesthat stores data will be tremendous. is known colloquially as the Bionic Textilforschungszentrum Nord-Could your morning shave get any Hornet. No bigger than an average West) sol-gel coatings, based onsmoother? You bet – and no, this wasp, the flying device is designed nano-sized zinc oxide particles,isn’t about some new 16-bladed to seek out, follow, photograph have been developed and can berazor. Adding more blades seems and even kill selected opponents.to have reached the limits of According to then Israel’s Deputy applied using conventional methodspracticality, and has forced razor Prime Minister Shimon Peres, “It’s such as dipping and spraying.researchers to take a closer look at illogical to send a plane worth $100the blades themselves. In the Schick million against a suicidal terrorist. When catalyzed by sunlight, the 5nmFX Diamond, nanotechnology is So we are wide particles decompose and, inbeing used to coat each blade, building futuristic the process, break down stains andgreatly extending their durability. weapons.” Are even scents! Messy kids rejoice,Electric razors are also trumpeting they ever! the era of self-cleaning clothing hasnanotechnology these days, one arrived!example being the Panasonic Arcelectronic razor. The Arc features Meet you all with another interestingwhirling blades impregnated with article on Nanobots soon....Cheers :)nanoparticles that make themsharper. Complied by Ganesh Murugan, MBA,IIT (PMP), PhD (Perusing) Business Analyst,A $15 million contract awarded to Solution Architect and CEO of eSolutionsthe University of Dayton Research Webbers Sdn BhdInstitute by the U.S. Army’s : [email protected] Laboratory’s Survivability Skype : esolutions_ganeshBranch is funding the development : ganesh muruganof nanoparticle armor to protect notonly soldiers, but the vehicles theyride in. By infusing nanoparticlesinto ceramic materials used inmilitary armor, both porosity andstructural strength are increased. Itis hoped that the improved armor isperfected and introduced as soonas possible.| JULY 2014
60 INDIA BUSINESS NEWS BY 2022 ONLY 1 PERCENT OF INDIA’S POPULATION WILL BE BELOW THE INDIA IS NEW POVERTY LINE WORLD’S NO 2 EXPORTER OF Aleading Indian corporate leader pointed out how Indian TEXTILES owners are turning around foreign companies into profitable ventures, and that Indian management is becoming the India has emerged as the world's subject of case studies in leading business schools abroad. G. second largest textile exporter Madhava Rao, GMR chairman said \"India is the future not only lagging behind China, whose for Indians but for the entire world and there is no second thought exports are nearly seven times about it.\" He further added that India would achieve an average higher. India’s textile exports were GDP growth rate of around 8 percent by 2022 which will help estimated at $40 billion, compared leave only 1 percent of the population below the poverty line by with China's $274 billion in 2013. that time. His remark was based on a recent McKinsey report. Around 40% or $16 billion of GMR chairman said: \"No multinational company can afford countries textiles exports were to be absent from India because of its enormous intellectual related to readymade garments. manpower.\" India is a perfect place for be it your professional Over the past few months the Indian or entrepreneurial journey, and what could be a better time garment industry has staged a than this. I think this is a perfect time for you all, he told the recovery of sorts which can be seen graduating students at the 12th convocation of the University of in the 23% rise in exports of shirts, Petroleum and Energy Studies, Dehradun. Praising the newly-trousers, skirts and other readymades during 2013. Exporters said a installed Bharatiya Janata Party-led government at the Centrechange in focus to markets beyond the US and the EU has helped. with Narendra Modi as Prime Minister, Rao said: \"Today, India isThe government policy of diversification of market and product base all set to become a global superpower triggered by the advent ofhas helped us and we ventured into the newer markets, which paid this new strong and progressive government with a very decisivehuge dividends. We also leveraged our raw material strengths and leader with the only mandate of \"development\" thus kick-startingfollowed sustained better compliance practices which attracted the growth, creating millions of jobs and spreading prosperity.\"buyers and international brands across globe to source from India,\"said Apparel Export Promotion Council chairman Virender Uppal.INDIA POLL RESULTS PERKED UP CAR SALESThe news of central stable government has perked up volumes EVERY REGISTERED of India’s troubled car industry. Maruti, the country's biggest BUSINESS IN INDIA carmaker, saw wholesale volumes goes up 16% in May at HAS 127 ‘SHADOWS’90,560 units against the same month last year. Rival Hyundai alsohad a positive month showing a growth of 13% as the company sold A UK study puts India’s shadow36,205 units in May compared to same month last year. Rakesh economy at No.2, behindSrivastava, Senior VP (Sales and Marketing) at Hyundai India say Indonesia’s. India has emergedthe \"direction now appears positive\" if the new government ushers as a country with some of thein economic reforms and GDP picks up. \"A stable government has highest number of unregistered businesses in the world, accordingcertainly brought in a feel-good factor. However, its positives will flow to a latest UK study that found Indonesia with the maximum numberin only when growth-oriented economic policies are announced\". of shadow businesses. Researchers at Imperial College Business\"Post the electoral mandate, we expect to see improved sentiments School in London found that a large number of shadow entrepreneursresulting in a better economic situation which we hope will lead to are operating in India without registering their businesses with officiala gradual increase in demand,\" said Pravin Shah, Chief Executive authorities and eventually hampering economic growth. The team(Automotive) at Mahindra & Mahindra. created a league table based on a study of 68 countries and found Indonesia with the highest ratio of 130 shadow economy businesses| JULY 2014
INDIA BUSINESS NEWS 61to every registered business, followed closely by India at 127. Shadow USD 110 million in Trent Hypermarket, an arm of Tata. This moveentrepreneurs are defined as individuals who manage a business came soon after Walmart ended its wholesale joint venture with thethat sells legitimate goods and services but do not register their country's conglomerate Bharti to operate 20 stores in India, citing thebusinesses. This means that they do not pay tax and operate in a local product requirement as the critical stumbling block,\" the reportshadow economy where business activities are performed outside the said. A T Kearney said the US tops the index for the second yearreach of government authorities. “Understanding shadow economy in a row, demonstrating sustained investor confidence in the strengthentrepreneurship is incredibly important for developing countries of its ongoing economic recovery. In addition to being the most likelybecause it is a key factor affecting economic development,” explains destination for FDI, no other country has experienced as profound aProf Erkko Autio, co-author of the report, which attempts to analyse change in the expectations of the business leaders we surveyed. A fullthe number of entrepreneurs operating in the shadow economy for 49% of respondents compared to 39% in 2013 and 23 percent in 2007the first time. “We found that government policies could play a big indicated that their outlook for the United States is significantly morerole in helping shadow economy entrepreneurs transition to the formal positive now than it was two years ago,\" it said. White House Presseconomy. This is important because shadow economy entrepreneurs Secretary Jay Carney said : \"Not only did the US extend its lead, butare less likely to innovate, accumulate capital and invest in the the improvements over the past two years have been profound. Andeconomy, which hampers economic growth,” he added. In the study, the US continues to show greater positive momentum than any otherAutio and Dr Kun Fu estimate that business activities conducted country.\" \"And today's survey shows, once again, that the rest of theby informal entrepreneurs can make up more than 80% of the total world overwhelmingly wants to make it in America,\" Carney said.economic activity in developing countries and the types of businessesinclude unlicensed taxicab services, roadside food stalls and small GOVERNMENT TO EXPAND IRRIGATION,landscaping operations. INSURE FARMER INCOMEINDIA SLIPS TO SEVENTH SPOT ON FDI India’s new agriculture minister Radha Mohan Singh,CONFIDENCE INDEX highlighted 6 focus areas in his maiden media interaction. They were: The survey of 300 global 1. Expand irrigation coverage: The government will launch executives by global a Prime Minister's Gramin Sinchayi Yojana to expand irrigation consulting firm A T Kearney coverage and reduce the dependence on monsoons. A similar found India has slipped to its pilot scheme was launched in 2003 by former NDA government lowest position in over a decade but was discontinued by UPA. in the foreign direct investment 2. Insure farmers' income: The government will launch an confidence index, which has been Agriculture Income Insurance Scheme to provide compensation topped by the United States for to farmers in case of crop damage arising out of factors like the second year in a row. India drought. The government will take the average of the last seven was ranked second for three years years of a farmer's income and offer insurance for that amount. in 2005, 2007 and 2012 and was The premium will be paid by the government. placed on the third spot in 2010. 3. Revamp support price mechanism: The government willIndia attracted USD 25.5 billion in FDI inflows in 2012, down from USD declare minimum support prices of various crops in a way that31.6 billion in 2011, according to 2014 A T Kearney Foreign Direct farmer gets 50% return on investment made in raising the crop.Investment Confidence Index. This is the lowest ranking for India 4. Expand agriculture education: The country only has onesince 2001. The US moved to the top position last year displacing Central Agriculture University and a second one was only recentlyChina as Washington made progress towards sustainable and steady approved. Steps will be taken to expand them to advance researcheconomic growth. \"The cooling-off in investor sentiment we foresaw in agriculture.last year appears to have taken shape, with a two-place drop from 5th 5. Monitor and address challenges of a below normalto 7th its lowest rank since 2001,\" the report said. In 2013, the then monsoon: The government is in touch with states and is preparingruling UPA government raised limits on FDI in telecommunications, to brace the any problem arising of inadequate rains.asset reconstruction, credit information, aviation, and defence 6. On GM Crops: The government will allow GM crops only if itproduction, the report said adding that foreign investment in oil refining is highly necessary and critical for the country.and single-brand retail, currently capped at 49%, will now be grantedautomatic approval. AirAsia India, a joint venture between Malaysianbudget airline AirAsia and Indian conglomerate Tata Sons, has beengiven the nod by Foreign Investment Promotion Board. The initialinvestment of USD 50 million makes AirAsia the first foreign airlineto set up a subsidiary in India. German luxury tableware brandVilleroy & Boch has established a joint venture with marketer GenesisLuxury, opening its first store in Mumbai and planning to grow to16 stores in the next five years. This partnership comes after twoyears of struggling to clear administrative hurdles and acquire realestate without a local partner, the report said. \"In a long-awaiteddecision reached in late 2012, the Indian government permitted partialforeign ownership of supermarkets and department stores, a majorstep for the country's highly underdeveloped retail market,\" it said.\"Until late 2013, however, no foreign companies moved to enter,daunted by complex requirements, including one for 30 percentcontent from small and medium-sized Indian enterprises,\" the reportadded. In December 2013, though, Tesco, Britain's biggest retailerannounced that it was seeking permission to take a 50% stake worth | JULY 2014
62 LEARNINGSpeed ReadingforBusiness SuccessLEARNING TO READ MORE up an average day. Maybe not. And, given the time thatEFFICIENTLY reading consumes in our daily lives, When you look at it, reading could it may be a skill that we can, andThink about how much reading be the work-related skill that you should, improve. you do every day. use most often! But what does becoming a betterPerhaps you read the newspaper to It's also a skill that most of us take reader involve?catch up with what's going on in the for granted by the time we reach theworld. You browse countless emails age of 12. After all, it seems that It means getting faster and morefrom colleagues. And you then if we can read and comprehend efficient at reading, while stillread the books, reports, proposals, textbooks, then, surely, we must be understanding what you're reading.periodicals, and letters that make good readers? In this article, we'll look at how you| JULY 2014
LEARNING 63 can do this, and how However, imagine if you could #1 Subvocalization you can unlearn poor double your rate to 500 words per reading habits. minute. You could zip through all Subvocalization is the habit of of this content in half the time. You pronouncing each word in your HOW WE READ? could then spend the time saved head as you read it. Most people on other tasks, or take a few extra do this to some extent or another. Although you spend a good minutes to relax and de-stress. When you sub-vocalize, you \"hear\" part of your day reading, the word being spoken in your have you ever thought Another important advantage of mind. This takes much more time about how you read? speed reading is that you can better than is necessary, because you can comprehend the overall structure understand a word more quickly How do your eyes make of an argument. This leads to a than you can say it. sense of the shapes of \"bigger picture\" understanding, the letters, and then put which can greatly benefit your work To turn off the voice in your head, those letters together to and career. you have to first acknowledge that form a sentence that you it's there (how did you read the first can understand? Note: Speed reading is a useful and part of this article?), and then you When you actually think valuable skill. However, there might have to practice \"not speaking.\" about it, reading is quite be times when using this technique When you sit down to read, tell a complex skill. Previously, isn't appropriate. For instance, it's yourself that you will not subvocalize. scientists believed that when you often best to read important or You need to practice this until thisread, both of your eyes focused on challenging documents slowly, so bad habit is erased. Reading blocksa particular letter in a word. Recent that you can fully understand each of words also helps, as it's harderresearch shows this isn't the case. detail. to vocalize a block of words. (See below for more on this.)Scientists now believe that each BREAKING POOR READINGof your eyes lock onto a different HABITS Eliminating subvocalization aloneletter at the same time, usually two can increase your reading speed bycharacters apart. Your brain then If you're like most people, then an astounding amount. Otherwise,fuses these images together to you probably have one or more you're limited to reading at the sameform a word. This happens almost reading habits that slow you down. pace as talking, which is about 250-instantaneously, as we zip through Becoming a better reader means 350 words per minute. The only waypages and pages of text! overcoming these bad habits, so to break through this barrier is to that you can clear the way for new, stop saying the words in your headADVANTAGES OF SPEED effective ways of reading. as you read.READING #2 Reading Word-By-WordMany people read at an average Below, we cover some of the Not only is it slow to read word-by-rate of 250 words per minute. This most common bad reading habits, word, but when you concentratemeans that an average page in a and discuss what you can do to on separate words, you often missbook or document would take you overcome them. the overall concept of what's being1-2 minutes to read. said. People who read each word | JULY 2014
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