Weak global demand will weigh on developing Asia in 2012 but growth rates in most economies remain robust and should tick back up in 2013 with private consumption providing support, the Asian Development Bank (ADB) says in a new report.
ADB’s flagship annual economic publication, Asian Development Outlook 2012(ADO 2012), released today, forecasts gross domestic product (GDP) growth in developing Asia at 6.9% in 2012, rising to 7.3% in 2013. GDP expanded by 7.2% in 2011 after growing 9.1% in 2010, as the region rebounded strongly from the global financial crisis.
“Continued uncertainties in the eurozone and a further slump in global trade pose the biggest threats to the growth outlook,” said Changyong Rhee, ADB Chief Economist. “At the same time, Asian economies are gradually diversifying into new markets, private consumption is trending up and the region has limited direct financial exposure to the eurozone—which should help sustain its momentum.”
External trade was subdued in 2011, but domestic demand helped take up some of the slack, with the region’s current account surplus falling to 2.6% of GDP from 4% in 2010. Inflation is gradually easing, but remains a potential threat given volatility in food and fuel prices. A significant dip in investment late in 2011, and the possibility of growing unpredictability in foreign capital flows in and out of the region are other factors policymakers must be wary of.
Asia must be ready to respond to any further major shocks in the eurozone which could stall an exports recovery, dry up trade finance or undermine key global supply chains―where Asia plays an integral role. Most economies in the region have sharply improved finances in the wake of the 2008 global financial crisis and have the capacity to respond to further external weakness.
“There is no clear case for short-term policy responses, but if inflationary pressures build up again and capital inflows resume, there may be a need to readjust monetary policy to maintain price stability,” Mr. Rhee said.
In the longer term, policymakers will need to strike a balance between paying down debt while supporting growth that is both inclusive and environmentally sustainable.
Across the region, East Asia will see a deceleration in growth to 7.4% this year from 8.0% in 2011, weighed down by weaker exports and investment. People’s Republic of China, the world’s second largest economy, will lead the way with growth set to moderate to 8.5% and 8.7% for 2012 and 2013, down from 9.2% in 2011.
South Asia will also remain subdued with growth of 6.6% in 2012, tempered by weak demand and fiscal limitations. The pace of expansion will accelerate to 7.1% the following year, driven by the Indian economy, which is projected to rise to 7.5%.
Southeast Asia will see growth quicken, with GDP expanding to 5.2% in 2012 from just 4.6% in 2011, on the back of the continued recovery in the Thai economy.
Central Asia will see little change in economic activity for 2012, with projected growth of 6.1% reflecting the weak conditions in the eurozone and sluggish growth in the Russian Federation. Growth in the Pacific is set to moderate to 6.0% in 2012 and 4.1% in 2013, as Papua New Guinea, the largest economy in the region, sees a winding down of infrastructure projects that stimulated growth in 2011.
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AT&T Inc. (T) and Sprint Nextel Corp. (S) are ramping up marketing for new smartphones with speedy LTE service. The hitch: Most of their customers don’t live anywhere near an LTE network.
The carriers are playing catch-up with Verizon Wireless, which offers the service widely. LTE, short for long-term evolution, is a new wireless standard that provides faster access to the Web. AT&T offers it in 35 markets, reaching about a quarter of the total U.S. population. Sprint doesn’t have any LTE service yet. It plans to roll it out in six cities sometime around the middle of the year.
“If they let consumers know about the situation upfront then it’s not so bad,” said Parul Desai, policy counsel for the Consumers Union in Washington. “I am more concerned about new phone buyers who decide on a two-year contract and don’t get the service for a quarter to half a year.”
The situation recalls the early days of high-definition television, when consumers snapped up sets only to decry the lack of HD shows. The carriers will face more pressure to have wider LTE coverage later this year, when analysts expect Apple Inc. (AAPL) to release an LTE version of the iPhone. The iPhone accounted for 64 percent of the smartphones sold at AT&T and Verizon in the first quarter.
AT&T introduced its first LTE phones in November with service in nine cities. It’s now offering seven LTE phones and the LTE Apple iPad, with a goal of complete national coverage by the end of 2013. Verizon has LTE in 230 markets, covering two- thirds of the U.S. Far Behind
Sprint is the furthest behind in adding coverage, even as it rolls out more LTE models. The company started selling the Samsung (005930) Galaxy Nexus last month, the first of 15 LTE devices planned for this year. For now, buyers of those devices will have to rely on slower 3G connections.
Chief Executive Officer Dan Hesse said Sprint has experience introducing next-generation phones while the network is still being rolled out. The company did something similar with its HTC (2498) EVO phone, which relies on a different 4G standard called WiMax. When the EVO debuted in June 2010, Sprint had WiMax service in only 33 cities. Even so, the EVO set a one-day sales record for any single device at Sprint.
“We have been through this before,” Hesse said in an interview. “We are extremely experienced at it. We know exactly what it means to launch a 4G device early, as you are in the middle of a rollout.”
IPhone Club
Still, the stakes are higher with the iPhone. Sprint, which didn’t offer the device until last year, sees the phone as a linchpin of its comeback plan.
After four years of watching lucrative customers leave to sign up for the iPhone at the other carriers, Sprint committed to paying Apple $15.5 billion over four years to gain rights to the product. That means it’s under pressure to sell a certain number of units. When the next model comes out, Sprint plans to offer it nationally -- even though its LTE network won’t be fully built yet.
Buyers won’t be able to take advantage of the faster speed to download videos and Web pages, essentially turning the new iPhone into a regular 3G device. Hesse defends that approach by saying that existing LTE models at Verizon and AT&T don’t sell as well as the current 3G iPhone. That signals that consumers are more interested in owning an Apple product than one that works on the faster networks.
Verizon Versus AT&T
Even so, buyers of the next iPhone may demand broader coverage. That would give an edge to Verizon -- and to a lesser extent, AT&T.
While Verizon has been the quickest to build out an LTE network, AT&T has offered the iPhone for longer. AT&T has a larger base of Apple customers who may be looking to upgrade, but also more to lose if consumers defect in search of a more extensive network.
The Apple device made up 78 percent of AT&T’s smartphone sales in the first quarter. At Verizon, the product accounted for 51 percent. It relies more on models running Google Inc. (GOOG)’s Android, some of which already use LTE.
Brenda Raney, a spokeswoman for Basking Ridge, New Jersey- based Verizon Wireless, declined to comment on LTE competition, other than saying that her company was well ahead in offering devices on the network. Verizon rolled out the HTC Droid Incredible this week, marking the carrier’s 23rd LTE model.
Backup Network
AT&T says customers can always rely on its HSPA+ network when they don’t have LTE access. That technology, short for high-speed packet access, is an older wireless standard that AT&T revamped to make it fast enough to call 4G. Still, it doesn’t have the speed or name recognition of LTE.
“The big advantage for our customers is that if they fall out of LTE service we have 4G covering over 260 million people,” said Mark Siegel, a spokesman for Dallas-based AT&T.
For Sprint, which is trying to recover from about $8 billion in losses over the past three years, the LTE handicap will put an extra burden on its finances, said Robert Jaeger, an independent telecommunications analyst in New York.
“They’ll be at a disadvantage versus the big two,” Jaeger said. “They can’t afford to be that far behind since their new subscriber momentum is going to be key to start getting to profitability.”
Sprint has sold a total of 3.3 million iPhones since the product’s debut in October, a pace that Hesse said he’s happy with. “After only two quarters, we are ahead of where we expected to be,” he said.
Unlimited Plans
To draw attention away from its limited LTE coverage, the company should focus its marketing message on service plans that offer unlimited data for a fixed price, said Michael Cote, a wireless strategist at the Cote Collaborative in Chicago. Verizon and AT&T have stopped selling such plans, opting instead to charge customers by the amount of data they use.
To sell all the iPhones that it has promised to buy from Apple, Sprint also could offer older versions to consumers at a lower price, said Kevin Smithen, an analyst at Macquarie Capital USA Inc. in New York. In that scenario, buyers wouldn’t expect to get LTE anyway.
“They could sell the iPhone 4S for $100 with the unlimited plan and meet the Apple volume commitments,” Smithen said.
Global - Economy
Inflation-wary Bank of England to halt money-printing press
LONDON - The Bank of England looks set to call a halt to its asset-buying programme on Thursday, despite the economy having slipped into recession and renewed risks rising from the euro zone debt crisis, as UK inflation remains stubbornly high.
Euro zone agrees to make 5.2 bln euro payment to Greece
BRUSSELS - Euro zone governments kept Greece afloat on Wednesday after agreeing to authorise a payment of 5.2 billion euros from the region's bailout fund, despite opposition from some member states following the Greek election results.
Greece's departure from euro wouldn't be catastrophic, investors say
Reuters - If Greece withdraws from the euro, the eurozone could manage the departure in an orderly way, investors and banks said. There was a sell-off of Italian and Spanish bonds immediately after Greek election results were announced Monday, but the bonds largely recovered by the end of the day. "Unless you have strong contagion into Spain and Italy, it's unlikely to be really an issue that would undermine the whole eurozone," said Valentijn van Nieuwenhuijzen, ING Investment Management's head of strategy.
Moody's downgrades of bank ratings will threaten growth
Bloomberg - Moody's Investors Service is scheduled this month to downgrade the credit ratings of BNP Paribas, Deutsche Bank and other major financial institutions. Industry experts said the move could threaten economic growth as it drives up banks' funding costs and forces them to rein in lending. "I'd like to say the views of the rating agencies don't matter anymore but, unfortunately, they do," said PIMCO executive Philippe Bodereau. "This is a setback for the banks, particularly when you consider how much progress they have made in making themselves safer and more transparent."
IMF relaxes its stance demanding fiscal austerity
International Monetary Fund Managing Director Christine Lagarde called for a "prudent" approach to bringing down government debt, rather than holding rigidly to targets as economies decline. "If growth is worse than expected, they should stick to announced fiscal measures, rather than announced fiscal targets," she said. "In other words, they should not fight any fall in tax revenues or rise in spending caused solely because the economy weakens." Reuters
European voters reject austerity, but future is unclear
Voters in France, Greece and Italy rejected austerity measures in favor of promises of growth plans, but clear, effective ideas have yet to emerge. "This is going to force some rethinking" about how to resolve the sovereign-debt crisis, said Laura Gonzalez, a finance professor at Fordham University. "That is good for everybody." Meanwhile, Germany is confident that its approach to Europe's debt crisis will not change. U.K. Prime Minister David Cameron is expected to reiterate a need to stick with austerity measures.
Greek voters reject parties that supported austerity measures
Greece faces an uncertain future after voters turned against parties that backed EU-imposed austerity measures. Results indicate that at least seven political parties will have members in Parliament, with a coalition of hard-left parties becoming the second-largest voting block.
Disability compounds U.S. unemployment problem
Americans receiving disability payment are increasing, and the longer they stay out of the workforce, the less likely it is that they will return, experts said. People getting disability payment account for 5.6% of the working-age population, compared with 4.5% in 2007
High rent affects Americans hurt by foreclosure
The foreclosure crisis that drove millions of Americans out of their homes has put them into an increasingly competitive market for rental units. In the first quarter, the average monthly rent for apartments reached $1,008, an all-time high, according to RealFacts.
U.S. consumer spending edged up in March at a slower pace
Consumer spending in the U.S. rose 0.3% in March, a slower increase than the 0.9% gain in February, the Commerce Department said. Incomes rose 0.4% in March, but the advance was 0.2% when adjusted for taxes and inflation. Analysts expected sales at major U.S. chain stores to increase 1.5% in April, but the growth was a much weaker 0.8%, compared with a year earlier, according to a Thomson Reuters survey. Sales at 53% of retailers fell short of their projections.
U.S. businesses added 119,000 employees in April
Businesses in the U.S. added 119,000 employees in April, the smallest number in seven months, according to a survey by Automatic Data Processing. Service companies did all of the hiring, while construction and manufacturing firms reduced workforces
Eurozone joblessness climbs to an all-time high
Unemployment in the eurozone rose to 10.9% in March, the highest rate since the eurozone was established in 1999. Joblessness was highest in Spain, where the rate reached 24.1%
Manufacturing growth in U.S. accelerates to fastest rate in a year
A flood of orders at factories drove the pace of expansion in the U.S. manufacturing sector last month to its highest rate in almost a year, according to the Institute for Supply Management. The trade group said its factory index surged to 54.8 in April, well above the most optimistic forecast
Unemployed living with parents is a big drag on U.S. economy
The spectacular drop in the rate at which Americans form households, triggered by the recession, is a major drag on the U.S. economy, experts said. About two-thirds of excess vacant housing inventory in the U.S. is the result of reduced demand caused by the recession, according to the National Association of Home Builders.
================> Emerging Markets <=================
China: April PMI edged up, but may not be sustainable
The official headline PMI for April rose to 53.3, up 0.2pp from March's level. The rise reflected the government's increased selective easing measures in particular the resumption of lending to some qualified local governments' infrastructure investments. But outside of local government projects, the interest in private sector investments remains low.
Korea: April CPI, March Industrial Production
CPI inflation continued to stay moderate at 2.5% yoy in April, weaker than the consensus expectation. On both an adjusted and non-adjusted basis, CPI remained flat in the month. Core inflation was at 1.8% yoy and is estimated to have risen 0.2% mom (sa). Exports and imports disappointed again in April, contracting 4.7% yoy and 0.2% yoy, respectively. Although the global economy is likely to continue on a moderate growth path, the actual data from Korean trade seem to suggest a stronger-than-anticipated impact on its external trade sector.
Taiwan: 1Q 2012 Real GDP
1Q12 advanced GDP growth was at 0.4% yoy, below consensus expectations of a 0.91% increase. On a sequential basis, GDP rose 0.3% (1.1% annualized). The good news is that Taiwan has moved out of technical recession, but unfortunately the recovery is so far proving very muted
Industrial production was up a mere 0.3% yoy in March and fell 3.4% mom (sa). The weak March figure should be seen partly in the context of the what were a couple of very strong figures previously. Nevertheless, the outlook is not all that encouraging
South Africa's unemployment rate increased to 25.2% in 1Q 2012 from 23.9% in 4Q 2011.
The unemployment rate in 1Q 2012 was higher than that recorded in 1Q 2011, when it was 25.0% According to data published yesterday by Statistics South Africa, 75,000 jobs were cut in 1Q 2012, mainly in the manufacturing and construction sectors. In year-on-year growth terms, total employment was up 304,000 (or 2.3%) but the labour force increased by 466,000 (or 2.7%) over the past year. Total unemployed in 1Q 2012 increased by 162,000 yoy (or 3.7%) to 4.5mn
March industrial output seen slowing further: Reuters Poll
BANGALORE - India's industrial output grew at a sharply slower pace in March thanks to a cooling infrastructure sector, a Reuters poll showed, underscoring the wider economic gloom in the country.
RBI deputy: pressure on food inflation strong
HYDERABAD -Pressure on food inflation in India is still very strong, said Subir Gokarn, a deputy governor of the Reserve Bank of India.
Brazil's secret fiscal weapon: the tax 'lion'
BRASILIA - In Brazil, groups of armed agents fly around the country by helicopter, pounding on doors and instilling fear in the hearts of those who break the law. They're not the police - they're from the tax agency. The Federal Revenue Service, which has gained global renown for its tough and creative tactics, will be one of the most important keys to Brazil's economic prospects in 2012. President Dilma Rousseff is counting on the agency's tax-collecting prowess to help her government meet ambitious budget targets without smothering the country's suddenly brittle economy. The agency, known as "The Lion" for its official emblem as well as its ferocious pursuit of tax dodgers, deploys everything from gun-toting operatives to meters on beer kegs in breweries to ensure that individuals and companies fully declare, and pay, their share to the government.
Russia: Inflation eased further in April and was marginally better than expected by the market. Monthly inflation, reported on Friday, 4 May, came out at 0.3% mom, below our own and market consensus estimates of 0.4% mom; Year-on-year inflation edged down to 3.6% from 3.7% in March, a fresh all-time low. Inflation slowed in late April in particular (inflation for 24-28 April was reported at zero, the lowest reading this year). Both the year-on-year change in core CPI and its momentum (annualized 3mma average) declined further in April, suggesting that inflation pressures are staying low for now.
RBI further eases norms on FX deposits
REUTERS - The Reserve Bank of India (RBI) eased restrictions on the usage of foreign currency deposits on Wednesday, just days after its move to relax the interest rate ceiling on such deposits. The RBI has allowed banks to use funds from foreign currency non-resident deposits as collateral against lending to related local residents.
India to incentivise foreign banks to set up subsidiaries
NEW DELHI - India said on Monday it would exempt foreign banks from paying tax for setting up local units as it looks to ring-fence such units against external economic shocks.
U.S. oil companies are still eager to do business in Argentina
Argentina's nationalization of a controlling stake in the oil company YPF may not be enough to discourage U.S. energy firms from making deals there, economists and oil analysts said. There is so much money to be made from the development of Argentina's petroleum resources that international oil companies can't afford to stay away, they said.
Global – Markets and Investment Themes
Medicare could be next growth opportunity for financial advisers
Financial advisers might be able to boost their business significantly by helping affluent clients make the best possible use of Medicare benefits. Almost half of high-net-worth Americans nearing retirement said they are "terrified" of what health care costs could do to their plans for retirement, according to a survey by Nationwide Financial.
IBM sets record-low coupon for 7-year corporate note
IBM set an all-time low for the coupon rate on a seven-year corporate note. The coupon priced at 1.875%, 65 basis points more than a comparable U.S. Treasury security.
Facebook IPO stock prices in the $28 to $35 range
When it launches its initial public offering, Facebook expects to get between $28 to $35 a share, according to documents filed with the Securities and Exchange Commission. The pricing range puts to rest speculation that the offering could establish a value for the company as high as $100 billion.
Bonds emerge as only investment delivering positive returns
For the first time since early 2008, bonds became the only financial investment to produce positive returns in April. Bank of America Merrill Lynch data show that fixed-income assets gained 0.7%. U.S. dollars, fuels, metals, agricultural products and the MSCI All-Country World Index of stocks all delivered losses
Pointing to a collusive nexus between drug manufacturers, officials of Drugs Control Organisation and medical experts in granting approvals to new drugs, a Parliamentary Panel said drugs banned, discarded or withdrawn in developed countries are in circulation in India.
The Parliamentary Standing Committee on Health and Family Welfare also pointed to serious lapses and irregularities on the approvals of new drugs and pointed out that 33 such drugs were approved without conducting clinical trials on Indian patients.
Alarmed at concerns of safety of Indian patients using such new drugs approved by the Central Drugs Standard Control Organisation (CDSCO), the top body handling approval of drugs, the Committee held "this matter needs to be reviewed to ensure safety of patients, fair play, transparency and accountability."
The Committee said scrutiny of 42 drugs picked up randomly involving grant of drug approvals in utter disregard of regulatory procedures and violation of rules and pointed out to files of approval of three controversial drugs (pefloxacin, lomefloxacin and sparfloxacin) found missing and untraceable.
These drugs were either never marketed or withdrawn in the US, Canada, Britain, Australia and other countries.
The Committee also pointed to a nexus between drug industry and medical experts who give their opinion on "personal perception" to push "unsafe" drugs for use.
"The Committee expresses its deep concern, extreme displeasure and disappointment at the state of affairs...The Ministry should ensure that the staff at CDSCO does not indulge in irregularities in approval process of new drugs that can potentially have adverse effect on the lives of people. It is difficult to believe that these irregularities on the part of CDSCO were merely due to oversight or unintentional. Hence, all cases should be investigated," the Committee held.
On the three drugs whose files went missing, the Panel held "all these drugs were approved on different dates and years creating doubts if their disappearances were accidental.
In India, these drugs are on sale. It is not posible to monitor if manufacturers are abiding by conditions of approval."
Citing the example of Deanxit, the Panel pointed out that the drug continued to be prohibited for sale and use in Denmark, the country of its origin, and thus permission to import and market it in India was given unlawfully.
"There must be some very good reasons for Danish Medical Agency not to approve a domestically developed drug where an anti-depressant drug would be in greater demand as compared to India. Curiously, Deanxit is allowed to be produced and exported but not allowed to be used in Denmark," it said.
The panel cited another example of Letrozole by Novartis, used as an anti-cancer drugs used only in post-menopausal women, is used only in India where it is permitted for use in female infertility.
The Panel also found that in some drugs like Buclizine administered to babies for appetite stimulation was unlawfully approved in India without clinical trials and without consulting experts. Latest scientific evidence from countries like Belgium, where the drug originated, was sought by the panel while seeking review of its approval.
After scrutiny of 39 drugs documented, the panel said 13 drugs (33 per cent) like buxlizine for appetite stimulation, nimuselid injection, Dozoflylline, Foxed Dose Combination of of Pregabalin with other agents, FDC of Ofloxacin with Ornodazole did not have permission for sale in any major developed countries like US, Canada, Australia, UK or EU and none had special relevance to medical needs here.
It held that in 11 drugs (28 per cent) like Everolimus of Novartis, Colistimethate of Cipla, Exemestane of Pharmacia, Ademetionine of Akums, Pemetrexid of Eli Lilly, Ambrisentan of GlaxoSmithKline, mandatory Phase III clinical trials were not conducted.
The Parliamentary Standing Committee on Health and Family Welfare also pointed to serious lapses and irregularities on the approvals of new drugs and pointed out that 33 such drugs were approved without conducting clinical trials on Indian patients.
Alarmed at concerns of safety of Indian patients using such new drugs approved by the Central Drugs Standard Control Organisation (CDSCO), the top body handling approval of drugs, the Committee held "this matter needs to be reviewed to ensure safety of patients, fair play, transparency and accountability."
The Committee said scrutiny of 42 drugs picked up randomly involving grant of drug approvals in utter disregard of regulatory procedures and violation of rules and pointed out to files of approval of three controversial drugs (pefloxacin, lomefloxacin and sparfloxacin) found missing and untraceable.
These drugs were either never marketed or withdrawn in the US, Canada, Britain, Australia and other countries.
The Committee also pointed to a nexus between drug industry and medical experts who give their opinion on "personal perception" to push "unsafe" drugs for use.
"The Committee expresses its deep concern, extreme displeasure and disappointment at the state of affairs...The Ministry should ensure that the staff at CDSCO does not indulge in irregularities in approval process of new drugs that can potentially have adverse effect on the lives of people. It is difficult to believe that these irregularities on the part of CDSCO were merely due to oversight or unintentional. Hence, all cases should be investigated," the Committee held.
On the three drugs whose files went missing, the Panel held "all these drugs were approved on different dates and years creating doubts if their disappearances were accidental.
In India, these drugs are on sale. It is not posible to monitor if manufacturers are abiding by conditions of approval."
Citing the example of Deanxit, the Panel pointed out that the drug continued to be prohibited for sale and use in Denmark, the country of its origin, and thus permission to import and market it in India was given unlawfully.
"There must be some very good reasons for Danish Medical Agency not to approve a domestically developed drug where an anti-depressant drug would be in greater demand as compared to India. Curiously, Deanxit is allowed to be produced and exported but not allowed to be used in Denmark," it said.
The panel cited another example of Letrozole by Novartis, used as an anti-cancer drugs used only in post-menopausal women, is used only in India where it is permitted for use in female infertility.
The Panel also found that in some drugs like Buclizine administered to babies for appetite stimulation was unlawfully approved in India without clinical trials and without consulting experts. Latest scientific evidence from countries like Belgium, where the drug originated, was sought by the panel while seeking review of its approval.
After scrutiny of 39 drugs documented, the panel said 13 drugs (33 per cent) like buxlizine for appetite stimulation, nimuselid injection, Dozoflylline, Foxed Dose Combination of of Pregabalin with other agents, FDC of Ofloxacin with Ornodazole did not have permission for sale in any major developed countries like US, Canada, Australia, UK or EU and none had special relevance to medical needs here.
It held that in 11 drugs (28 per cent) like Everolimus of Novartis, Colistimethate of Cipla, Exemestane of Pharmacia, Ademetionine of Akums, Pemetrexid of Eli Lilly, Ambrisentan of GlaxoSmithKline, mandatory Phase III clinical trials were not conducted.
Dunkin’ Donuts, a leading US food chain, has opened its first flagship store in Connaught Place in New Delhi.
The Indian unit of the US food chain is a joint venture between Dunkin’ Brands Group and India’s Jubilant Foodworks, which also owns the franchise for Domino’s Pizza.
Here are 10 things about the brand’s launch:
1) In India, it will be branded as “Dunkin’ Donuts and More”, because a doughnut-eating culture is not yet widespread in India. So, outlets here are expected to serve hot beverages and sandwiches as well.
In India, it will be branded as "Dunkin’ Donuts and More”
2) The company plans to open 10 stores in this current financial year. All of them will be in New Delhi. About 80-100 outlets will be opened across the country over the next five years, which will be a mix of flagship stores, stores in malls and kiosks.
3) “Dunkin’ Donuts and More” will debut in Mumbai only in 2013-2014, according to The Wall Street Journal. Tough luck, Mumbaikars.
4) The Indian debut will cost about $1.8 million (about Rs 9.5 crore) and there are plans to invest about $2.3 million (about Rs 12 crore) more on stores and manufacturing facilities this year, according to Ajay Kaul, chief executive officer of Jubilant FoodWorks.
5) To cater to the Indian palate, Dunkin’s India menu will include vegetarian options, sandwiches with Indian spices and fillings, fruit milkshakes and smoothies with flavours such as Alphonso mango and litchi. Hungry, kya?
6) A big focus for Dunkin’ in India will be coffee, which has become increasingly popular in India, a traditionally tea-loving nation. Indeed, the coffee/cafe market is facing increasing competition by the day. Globally, Dunkin Donuts’ derives more than half its business from coffee sales, which is why it will be more in competition with chains like Starbucks, which will also debut in India by opening an outlet in India in August.
7) Dunkin’s India launch is part of the company’s broader strategy to expand in the Asia-Pacific region. The company, which is present in 52 countries, in March announced plans to open over 300 shops in Asia over the next few years. No surprises there, every top brand is targeting India and China.
8 ) In India, Dunkin is pricing its doughnuts at Rs 45 and coffee at Rs 70, according to media reports. A Jubilant Foodworks group official was quoted as saying the aim was to launch an “affordable” brand in India. The food chain aims to price its products 10-15 percent lower than competitors to acquire scale in its Indian operations.
9) Dunkin’ Donuts is being targeted at urban consumers below 35 years old. The rest of us, of course, have to watch our calories.
10) Internationally, Dunkin’ Donuts offers more than 1,000 varieties of doughnuts, along with fritters, crullers, bagels, muffins, danish pastries, muffins and biscuits.
The Indian unit of the US food chain is a joint venture between Dunkin’ Brands Group and India’s Jubilant Foodworks, which also owns the franchise for Domino’s Pizza.
| Dunkin Donuts India |
1) In India, it will be branded as “Dunkin’ Donuts and More”, because a doughnut-eating culture is not yet widespread in India. So, outlets here are expected to serve hot beverages and sandwiches as well.
In India, it will be branded as "Dunkin’ Donuts and More”
2) The company plans to open 10 stores in this current financial year. All of them will be in New Delhi. About 80-100 outlets will be opened across the country over the next five years, which will be a mix of flagship stores, stores in malls and kiosks.
3) “Dunkin’ Donuts and More” will debut in Mumbai only in 2013-2014, according to The Wall Street Journal. Tough luck, Mumbaikars.
4) The Indian debut will cost about $1.8 million (about Rs 9.5 crore) and there are plans to invest about $2.3 million (about Rs 12 crore) more on stores and manufacturing facilities this year, according to Ajay Kaul, chief executive officer of Jubilant FoodWorks.
5) To cater to the Indian palate, Dunkin’s India menu will include vegetarian options, sandwiches with Indian spices and fillings, fruit milkshakes and smoothies with flavours such as Alphonso mango and litchi. Hungry, kya?
6) A big focus for Dunkin’ in India will be coffee, which has become increasingly popular in India, a traditionally tea-loving nation. Indeed, the coffee/cafe market is facing increasing competition by the day. Globally, Dunkin Donuts’ derives more than half its business from coffee sales, which is why it will be more in competition with chains like Starbucks, which will also debut in India by opening an outlet in India in August.
7) Dunkin’s India launch is part of the company’s broader strategy to expand in the Asia-Pacific region. The company, which is present in 52 countries, in March announced plans to open over 300 shops in Asia over the next few years. No surprises there, every top brand is targeting India and China.
8 ) In India, Dunkin is pricing its doughnuts at Rs 45 and coffee at Rs 70, according to media reports. A Jubilant Foodworks group official was quoted as saying the aim was to launch an “affordable” brand in India. The food chain aims to price its products 10-15 percent lower than competitors to acquire scale in its Indian operations.
9) Dunkin’ Donuts is being targeted at urban consumers below 35 years old. The rest of us, of course, have to watch our calories.
10) Internationally, Dunkin’ Donuts offers more than 1,000 varieties of doughnuts, along with fritters, crullers, bagels, muffins, danish pastries, muffins and biscuits.
( Source: Firstpost.com )
Cricket Master Blaster Sachin Tendulkar is recently been in the news due to its Rajya Sabha nomination in Indian Parliament by congress and also offered a seat in a Congress Party. He has accepted a RS nomination. Sachin might appear on big cinema soon as he has allowed Vidhu Vinod Chopra to cast a film on him called " Ferrari ki Sawari". It will be the first film to be shot at England's Lords Cricket Ground.
Sachin Tendulkar is likely to make an appearance in filmmaker Vidhu Vinod Chopra's forthcoming film, 'Ferrari Ki Sawari'. There is buzz that the master blaster has not only allowed the makers to use his name in the film but has also agreed to do a small cameo, for which he will shoot after the IPL.
While the makers remained tight-lipped about the much hyped cameo, Chopra said he is happy to use Sachin's name in the film. "There is a mention of him in the film. We are happy that we got to use his name in the film. For that (special appearance) you will have to see the film. I can't say about it now. I would love everyone to watch the film," Chopra said.
'Ferrari Ki Sawari', set to be released on June 15, revolves around a child, his father (Sharman Joshi) and grandfather (Boman Irani). It is about a child's dream to play cricket, and in a bid to fulfill his dream enters the twisted tale of a Ferrari. The story takes an interesting turn when Sharman is instructed to steal Sachin's Ferrari. The theatrical trailer of 'Ferrari Ki Sawari' shows Sharman mentioning that Sachin owns a Ferrari.
While the makers remained tight-lipped about the much hyped cameo, Chopra said he is happy to use Sachin's name in the film. "There is a mention of him in the film. We are happy that we got to use his name in the film. For that (special appearance) you will have to see the film. I can't say about it now. I would love everyone to watch the film," Chopra said.
'Ferrari Ki Sawari', set to be released on June 15, revolves around a child, his father (Sharman Joshi) and grandfather (Boman Irani). It is about a child's dream to play cricket, and in a bid to fulfill his dream enters the twisted tale of a Ferrari. The story takes an interesting turn when Sharman is instructed to steal Sachin's Ferrari. The theatrical trailer of 'Ferrari Ki Sawari' shows Sharman mentioning that Sachin owns a Ferrari.
Update 2: Nifty give back gains and went in to negative territory, book 50 % profit and continue holding, Nifty at 4970.
Update 1: Nifty rallied close to 5040, it can be shorted at current levels by aggressive traders only.
US markets are still buy on dips as we have seen yesterday's market action. Dow Jones was down more than 180 points in an opening bell and recovered sharply intraday and closed lower to around 100 points. We are seeing that US markets are not selling off in a mess of European union. All other markets except china get a decent correction due to european woes. No sign of intraday recovery has been found. We have advised to go short on Nifty since 2 days and booked 75% or full profit yesterday See here
Update 1: Nifty rallied close to 5040, it can be shorted at current levels by aggressive traders only.
US markets are still buy on dips as we have seen yesterday's market action. Dow Jones was down more than 180 points in an opening bell and recovered sharply intraday and closed lower to around 100 points. We are seeing that US markets are not selling off in a mess of European union. All other markets except china get a decent correction due to european woes. No sign of intraday recovery has been found. We have advised to go short on Nifty since 2 days and booked 75% or full profit yesterday See here
Tips & Outlook today ( Nifty 4984 )
If someone is holding a short positions in remaining 25 %, they can book full profit and wait for a bounce to again go short on Nifty ( around 5050 or 5100 ). Don't short now and expect a bounce. Avoid long positions, too.
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In his tv debut show Satyamev Jayate, Aamir Khan has gained a wide support from different class of people from India. His show may be a big hit and conveyed the message in a right way to the respected authorities of different depart. The show has touched a problem of real lives that still exist in India and No one get bothered, not even victims.
But it might get changed soon as its message was effectively communicated and might push authorities to show action against it.
It has been three days after actor Aamir Khan's TV show Satyamev Jayate on female foeticide was aired, the Madhya Pradesh Health Department has suspended the licences of 65 Medical Termination of Pregnancy centres for not submitting their reports on the prescribed form.
The suspension will be revoked if the centres submit their updated forms by Monday.
Meanwhile, Aamir Khan will meet Rajasthan Chief Minister Ashok Gehlot on Wednesday. He is likely to appeal to him to take action in old cases of female foeticide in his stateIn his TV show, the actor had highlighted a seven-year-old sting operation that had exposed cases of female foeticide in Rajashthan.
The suspension will be revoked if the centres submit their updated forms by Monday.
Meanwhile, Aamir Khan will meet Rajasthan Chief Minister Ashok Gehlot on Wednesday. He is likely to appeal to him to take action in old cases of female foeticide in his stateIn his TV show, the actor had highlighted a seven-year-old sting operation that had exposed cases of female foeticide in Rajashthan.
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