Showing posts with label Latest Updates. Show all posts
Showing posts with label Latest Updates. Show all posts

Thursday, August 16, 2012

Create Wonderful Websites

Create Wonderful Websites
How to Make Cool and Awesome Websites for free?

This is the question which most of web-developers and newbies wonder.

Now, it's time to to give hands on to this thrilling web-builder application - by Mozilla Webmaker.



Try these three awesome Webmaker Tools which you can hangout with - Thimble, X-Ray Goggles and Popcorn


All these application are interactive and are really cool, you can build, re-engage, code smartly, have a preview, and test.

All this at one place- and if you are newbie then this application would help you alot to learn more about HTML. It has video tutorials, sample websites and much more !


Source:- Create Wonderful Websites by eStudents Guide

Thursday, August 16, 2012 by ESG-Network ·

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Saturday, June 30, 2012

Entertainment Superhighway

This post brought to you by Merge by Windstream. All opinions are 100% mine.

Everyone is on the information superhighway. Merge by Windstream is the new way to watch TV straight from the "entertainment superhighway".

mrg_Laptop+TV+NewRoku_bball.jpg
Merge is a new Entertainment and Information Hub, it provides high-speed Internet plus streaming entertainment and is your web-enabled path to entertainment. Merge allows you to choose, control and experience movies, TV shows, games, social media (and more) that you want to watch, where you want to watch and when you want to watch it.


Sometimes, you might be thinking of a connection where you can watch TV along with browsing Internet !

Well then your perception has come to reality now . Merge provides you powerful internet connection that streams whatever YOU want straight from the Internet via a Roku streaming player to any device in your home from your small screens like your laptop, tablet or mobile phone to your biggest screen – the television and it streams (rather than downloads) video, you get instant access to a huge library of entertainment without having to store any video files on your computer or hard drive. This excites me to get my Entertainment Superhighway - Merge by Windstream.


Plus there is a sweepstake by Windstream called Ticket to Hollywood Sweepstakes



Merge Ticket to Hollywood Sweepstakes gives you a chance to win the ultimate entertainment package. You can enter online here - Ticket to Hollywood Sweepstakes . The grand prize winner, will receive round-trip airfare for two to Los Angeles, Calif., a 5-night stay at The Hollywood Roosevelt hotel, two passes for a back-lot tour of a movie studio, $1,000 cash, one 60-inch flat-screen television, one year’s worth of movie tickets for two and a 1-year subscription to HuluPlus ! So participate now for this exciting sweepstake contest .


Complete sweepstakes eligibility and guidelines can be found on the Windstream Connects Facebook page and on the Windstream website.


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Saturday, June 30, 2012 by ESG-Network ·

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Thursday, June 7, 2012

Merge by Windstream - Entertainment Superhighway

This post brought to you by Merge by Windstream. All opinions are 100% mine.
Everyone is on the information superhighway. Merge by Windstream is the new way to watch TV straight from the "entertainment superhighway".
Windstream Copy - Google Docs
 
Merge by Windstream is a new Entertainment Hub, it provides high-speed Internet plus streaming entertainment and is your web-enabled path to entertainment.

Merge brings all of the entertainment content the Internet has to offer directly to your home via a fast, dependable high-speed connection. It allows you to choose, control and experience movies, TV shows, games, social media (and more) that you want to watch, where you want to watch and when you want to watch it.

It's really COOL ! Yes, you can explore new edge entertainment, social media, internet and Much More on the Move.

Merge provides you powerful connection that streams whatever YOU want straight from the Internet via a Roku streaming player to any device in your home from your small screens like your laptop, tablet or mobile phone to your biggest screen – the television.

Merge Provides You with:-

• High-speed Internet connection
• Roku 2 HD streaming box
• 24/7 U.S. based support
• Unlimited nationwide calling

For those with busy schedules, Merge is entertainment on your schedule – not the TV schedule. This really excites me to Get Merge!


Don't forget to enter the Ticket to Hollywood Sweepstakes!
Visit Sponsor's Site

Thursday, June 7, 2012 by ESG-Network ·

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Thursday, April 5, 2012

Best Songs to Play with Your Windows Down

KiaRio-StocksCatalog
This post brought to you by Kia Rio. All opinions are 100% mine.

Drive on the Way with cool songs, its Amazing ! Kia Rio and Spotify have partnered together to develop the "Best Songs with your Windows Down" playlist .

This is really amazing that you can submit, promote and play your favorite song, so easily all you have to do is to visit Kia- Rio Facebook Application and search for your favorite song and submit. You can also submit your own songs too. (All songs go through an approval process and don't get added to the playlist immediately. So Choose and submit songs wisely )

How This Works:
  • Choose your song, enter your name and email and click "submit!"
  • Be sure to click on "view playlist" so you can see all the songs submitted by others.
  • You'll have to download Spotify to enjoy the playlist if you don't already have it downloaded
  • Be sure to choose the application "Spotify" when the new application tries to launch

With Spotify you will be able to listen to these songs at home, and you can even take them with you in your car if you have the Spotify Mobile apps for iPhone or an Android Phone. With Offline mode, you can sync your favorite playlists using Wi-Fi so you can listen whenever you like without internet. Don't forget to check the playlist daily for new songs.

Now you can also enjoy your favorite songs in a Kia Rio equipped with the voice-activated UVO Infotainment System, powered by Microsoft. UVO, short for "Your Voice,"  it allows you to answer and place phone calls, receive and respond to SMS text messages, stream music from your phone, operate an MP3 player, select over 100 satellite radio channels, and listen to saved music on the digital jukebox .

You can fine tune UVO to understand the way you speak, so it can follow your orders of connecting with Bluetooth or starting MP3 player while you concentrate on driving.

Enjoy the "Kia Rio Best Songs to Play with Your Windows Down" via Spotify! I added my favorite Eminem & Linkin Park, it played like a charm. You can subscribe to the playlist or share it with your friends.

You can be part of these cool contests and promotions only at ESG-Network 

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Thursday, April 5, 2012 by ESG-Network ·

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Tuesday, March 20, 2012

Unlimited Sales Leads from infofree

This post brought to you by infofree. All opinions are 100% mine.

Infofree gives you unlimited sales leads and mailing lists for a very low monthly price, easy sales leads  from infofree will be a starting point for you to find new customers and increase your sales which is important for every business.

Infofree helps you to grow business and to find potential customers as you can search and define your target audience by geography, business type, SIC codes, narrow by employee size or sales volume, and choose any additional selects.

Check out infofree and try it out for the blogger special of $39.95. Just use code BLOG39 at sign up.

For a blogger special you get the following:-

  • Over 50 Databases to choose from
  • Unlimited search, select, view & download of Sales Leads
  • Unlimited Business Credit Profiles
  • Unlimited view & print of Emails
  • See prospects on a map
  • People turning 65
  • Recent Bankruptcy Filers
  • Search by Area Code

Infofree has tons of selections for you to choose from. Create a list that targets your best sales leads, with one simple click - or define your sales leads through hundreds of selections.

Try this amazing offer exclusively for ESG-Network readers and boost your sales and promotions. Enter promo code BLOG39 at sign up and enjoy great services from infofree.

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Tuesday, March 20, 2012 by estudentsguide.com ·

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Saturday, March 17, 2012

Asian shares consolidate, Dollar faces profit taking

MSCI Asia ex-Japan steady, Nikkei opens down 0.1%; dollar off highs but steady
Asian shares steadied on Friday and the dollar took a breather after its recent broad rally spurred some profit taking, but a fresh batch of data suggesting the US economy may be picking up momentum underpinned investor sentiment.

The MSCI Asia Pacific ex-Japan index was barely changed and Japan’s Nikkei opened down 0.1% after rising to an 8-month high on Thursday.

The Standard & Poor’s 500 index on Thursday closed above 1,400 for the first time since June 2008, having risen about 11.5% this year without a major pullback. Some analysts have called for a consolidation while others see ongoing momentum.

The FTSEurofirst 300 index of top European shares finished 0.35% higher, and up 10% this year to nearly recover from last year’s 10.7% drop.

“The market is still going through a relief rally more than chasing a new trend on global growth,” Barclays Capital analysts said. “We are getting into profit-taking territory,” they added.

The number of Americans claiming new jobless benefits fell back to a four-year low last week, while the New York Federal Reserve said on Thursday its Empire State general business conditions index rose to its highest since June 2010 last month. The Philadelphia Federal Reserve Bank’s business activity index also showed manufacturing kept growing in the region this month.

“The New York Fed, Philadelphia Fed and the jobless claims data overnight were again favourable, so we can expect to see strong support for markets,” said Yumi Nishimura, senior technical analyst at Daiwa Securities.

The dollar stood at ¥83.40, retreating from a 11-month high of 84.17 touched on Thursday, and also off a two-month high against a basket of major currencies of 80.738 hit the previous day. The US currency steadied against the euro at $1.3080, easing from Thursday’s one-month high of $1.3004.

The US economy shows encouraging signs of early expansion but still faces tough challenges that call for measures to create jobs to help restore fiscal sustainability, US Treasury Secretary Timothy Geithner said on Thursday.

Oil rebounded after a sharp decline on Thursday when Reuters, citing two British sources, reported that Britain decided to cooperate with the United States in an agreement to release oil from government-controlled strategic reserves.

US crude was up 0.4% to $105.50 a barrel on Friday, after settling down 0.3% at $105.11 a barrel. US crude futures fell to a session low of $103.78 on Thursday. Brent crude fell 1.14% to settle at $123.55 a barrel on Thursday.

Asian credit markets were slightly firmer early on Friday, with the spread on the iTraxx Asia ex-Japan investment-grade index narrowing by 2 basis points.


Read latest tutorials on education only At e-Students Guide (http://www.estudentsguide.com/)

Saturday, March 17, 2012 by ESG-Network ·

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Wednesday, January 25, 2012

Exclusive So.Cl Giveaway Invitations

So.Cl is a new social networking site from Microsoft and the thing is that you can only access the site if you have invitation. e-Students Guide is giving away 7 So.Cl Exclusive invitations to the 7 lucky winners. So still struggling to make account on So.Cl than grab this invites and explore yourself to this newsocial networking site.


So What is So.cl ?

So.Cl (pronounced "social") is an experimental research project, developed by Microsoft’s FUSE Labs, focused on exploring the possibilities of social search for the purpose of learning.

So.cl combines social networking and search, to help people find and share interesting web pages in the way students do when they work together.

So.cl helps you create rich posts, by assembling montages of visual web content.To encourage interaction and collaboration, So.cl provides rich media sharing, and real time sharing of videos via "video parties."

We expect students to continue using products such as Facebook, Twitter, LinkedIn and other existing social networks, as well as Bing, Google and other search tools.

So.Cl is all about to encourage students to reimagine how our everyday communication and learning tools can be improved, by researching, learning and sharing in their everyday lives.

So.cl can be used by the general public, but it is our goal to focus on learning communities.

Exclusive Invitation for ESG-Readers only To Know More About This Contest Visit Here :  http://jobs.estudentsguide.com/2012/01/7-socl-exclusive-giveaway-invitations.html 


Participate Now for this Exclusive Invites only at ESG-Network


Wednesday, January 25, 2012 by ESG-Network ·

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Wednesday, December 14, 2011

Share your Cubicle and Get Rewarded !

This post brought to you by Contest Factory. All opinions are 100% mine.
Hi Readers,

Wondering to explore exciting prizes this X-Mass, the Contest Factory has brought up an exciting contest exclusively for ESG-Network readers.

So wondering what this contest is all about and How you would be getting these cool prizes and sweepstakes?  - This contest is about the participation to share videos of the Cubicle at your workplace, which they consider not desirable for work condition. You have to upload  videos of you cubicle while describing it why it is messy and why it is so important that Contest Factory come in and ‘Pimp’ their cube. You can have more idea about this contest from this video:




You have to describe your cubicle or office that may have bad furniture, old technology,  unorganized, noisy, dirty, dark and/or any other attributes that make it a bad space to work in. So, now all about is getting rewarded ! Once you submit your video at Pimp My Cube Contest, you invite your friends, family and coworkers to vote for your video.  You can share and encourage your video with your  friends and family and more you get votes on your video your chances for winning will be doubled.

The grand prize of your Pimp My Cube Contest will be selected by CF judges based on various criteria including for the most votes, best (really worst) video and most compelling story. The second sweepstakes prize of a $200 gift card will be awarded to the registered user chosen by random drawing at the end of the contest period.

So hurry up, and share your Cubicle now as the contest period is from 12/5/11 at 12:00PM to 1/31/11 at 12:00PM.

We are committed to bring best of best offers to our reader. So stay tuned at Stocks Catalog to have more such cool and thrilling sweep stakes and amazing contests, offers only at Stocks Catalog.

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Read latest tutorials on education only At e-Students Guide (http://www.estudentsguide.com/)
 

Wednesday, December 14, 2011 by estudentsguide.com ·

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Tuesday, November 15, 2011

EU Curbs CDS Trading

EU parliament gives final approval to short-selling law. European Commission to debate sovereign ratings “blackouts”
The European Union pushed ahead with its regulatory crackdown on Tuesday by giving the green light to curbs on trading sovereign-debt related derivatives at the heart of the euro zone crisis.

The bloc’s financial services chief Michel Barnier will also unveil a measure at 1400 GMT to inject competition into the credit ratings sector dominated by the Big Three: Standard & Poor’s, Moody’s and Fitch Ratings.

Many EU policymakers are keen to push ahead with the new rules, saying a ratings downgrade of Greek sovereign debt in 2010 made it more expensive and harder to mount the country’s first bailout package.

The mistaken downgrade by S&P of France’s banking industry system will reinforce the EU’s determination to regulate agencies more closely, Barnier said last week.

The draft law, part of a broad regulatory push prompted by the financial crisis, will propose a temporary “blackout” on sovereign debt ratings in exceptional circumstances.

The “blackouts” element has proved divisive, and Barnier was due to meet with fellow European commissioners at 1200 GMT to thrash out its scope in the draft law as member states like Britain mount a last - minute effort to scrap the provision.

EU states and the European Parliament, which is meeting in Strasbourg this week, will have the final say on the measure, with some changes likely.

Short-selling:

Parliament on Tuesday voted by 507 to 25 in favour of an EU law that restrict “naked” or uncovered selling of shares and sovereign debt. This refers to when a seller has made no prior arrangements to borrow the security.

EU states have already given the nod to the law, which was jointly agreed with parliament and is due to take effect within a year.

It also bans naked sovereign credit default swaps (CDS), where there is no ownership of the underlying government debt the CDS contract “insures” against default.

Policymakers want to crack down on what they see as speculation by hedge funds and others betting on falls in euro zone bond prices.

“The parliament has successfully fought for very strict conditions for short-selling to contain destructive speculation. The new transparency rules will help stabilise financial markets,” Markus Ferber, a German member of parliament’s centre-right party, said.

The draft law on ratings agencies, the EU’s third measure to regulate the industry since the financial crisis began in 2007, will avoid trying to create an EU answer to the US dominance of the sector.

Instead, it will seek to inject more competition by requiring users of ratings, such as companies and banks, to “rotate” or switch agencies on a regular basis so that some of the 10 or so smaller agencies registered in Europe, such as Euler Hermes​, can pick up more business.


Read latest tutorials on education only At e-Students Guide ( http://www.estudentsguide.com/ )

Tuesday, November 15, 2011 by ESG-Network ·

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Monday, July 26, 2010

Despite its huge profits, Microsoft has a popularity problem


Measured by profits, Microsoft trounces Apple and Google. In the most recent three months, Microsoft earned $4.52 billion, versus Apple’s $3.25 billion and Google’s $1.8 billion. But, dear investors, where is the love for this beaten-down company?

Frank X. Shaw, Microsoft’s vice president for corporate communications, recently tried a new tack to win respect. In a June 25 blog post titled “Microsoft by the Numbers,” he compared Microsoft’s record in various business categories with that of competitors.

Unfortunately, by trying to argue that Microsoft is doing well in all areas, including those dominated by Apple and Google, Shaw fails to show Microsoft at its best. Lost from view is what arguably is Microsoft’s very best story – its transformation into a powerhouse supplier of the specialized software that meets the complex needs of large corporations, what the trade calls selling to “the enterprise.”

Microsoft’s enterprise software business alone is approaching the size of Oracle. But despite that astounding growth, Microsoft must accept that, fair or not, victories on the enterprise side draw about as much attention as being the No.1 wholesale seller of plumbing supplies. Microsoft won’t receive the adoring attention that its chief rival draws with products like the iPad.

In a conversation this month, Shaw explained what prompted him to write his post. “I noticed some pretty critical conversations going on in the technosphere among the technorati,” he said. “There’s a gap between that conversation – ‘the company is not doing well, period’ – and what the company is actually doing.”

In the blog, he writes, “With Windows 7, Office 2010, Bing, Xbox 360, Kinect, Windows Phone 7, in our cloud platform, and many other products, services and happy customers, 2010 is shaping up as a huge year for us.”

By encompassing just about every product category under the sun – and then calling out Apple and Google, of all targets – Shaw draws attention to Microsoft’s weak spots.

Bing, its search engine, attracted 21.4 million new users in one year, Shaw says. Very well, but he does not mention the following: in 2007, the company’s online services group lost $604 million; in 2008, $1.2 billion; and in 2009, the year of Bing’s introduction, $2.25 billion.  

Monday, July 26, 2010 by estudentsguide.com ·

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India, EU in new bid to clinch free-trade deal

Concluding the FTA negotiations will send a clear signal of engagement on both sides. It would boost both trade and investment between EU and India, said Daniele Smadja, head of India’s delegation to the EU

New Delhi: India and the European Union (EU) are to hold a fresh series of free-trade talks in August in Brussels in a bid to clinch a deal by the end of the year, an official said.

Chief negotiators for India and its largest trading partner will meet at the European Union headquarters in Brussels in August as part of a push to conclude negotiations on the India-EU free-trade pact by December.

“We hope we will keep that (December) date,” Daniele Smadja, the head of India’s delegation to the EU, said late Friday.

“Concluding the FTA negotiations will send a clear signal of engagement on both sides. It would boost both trade and investment between EU and India. We need to seize the opportunity -- a one-in-a-lifetime for both of us.”

As part of the drive to wrap up talks, the two sides will meet in Brussels in the last week of August, she said. Around the same time, Indian commerce minister Anand Sharma and the EU trade commissioner Karel De Gucht will meet on the sidelines of an international meeting in Vietnam, she added.

India and the 27-member EU have been negotiating the market-opening pact since June 2007 to boost bilateral commerce.

But progress has been stymied by differences over intellectual property rights and efforts by Brussels to link trade with climate and India’s social sector performance in such areas as child labour.

India has opposed incorporation of what it calls “extraneous” non-trade issues into the EU talks.

Other issues include the seizure of Indian generic drugs meant for Third World countries as they pass through European ports. India claims developed countries are using the cover of a fight against counterfeit medicines to protect pharmaceutical giants and suppress legitimate generic drugs.

So far nine rounds of free-trade negotiations have been completed.

India’s trade volume of $80.6 billion with the EU accounts for 21% its exports and 16% of imports.

The EU and India set an ambitious target of more than doubling their bilateral trade to $200 billion in the next four years if a free-trade deal is concluded.

by ESG-Network ·

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Beyond ‘calibrated’ tightening

The council has already moved up the forecast for wholesale price inflation at the end of March 2011 from RBI’s 5.5% to 6.5%

The Prime Minister’s economic advisory council’s candid comments on the need for monetary tightening are clearly aimed at the Reserve Bank of India (RBI), which will hold its quarterly review of monetary policy on Tuesday. The council hasn’t toed the party line of a “calibrated exit” from monetary stimulus enthusiastically espoused by both the central bank and the government. Instead, it has said the recovery is strong and, therefore, “in the backdrop of inflation rates that are more than twice the comfort zone, it is important that monetary policy completes the process of exit…” It couldn’t have been more explicit.

The council has already moved up the forecast for wholesale price inflation at the end of March 2011 from RBI’s 5.5% to 6.5%. With expected inflation at 6.5% and the current repo rate at 5.5%, the policy rate is a negative 1%. So it’s hard to see how a policy of “calibrated exit” will work, especially since non-food manufacturing inflation was at 7.3% year-on-year in June. Deutsche Bank AG has a chart, reproduced here, that shows the gap between real growth and real interest rates is very high.

The stock market is, therefore, sanguine that high growth will offset any timorous attempts to tighten monetary policy, with none of the so-called rate-sensitive sectors showing any big changes in the run-up to the monetary policy announcement. While the Bombay Stock Exchange’s Sensex moved up 0.98% last week and 2.26% in the past one month, look at the gains in the rate-sensitive indices: the BSE Bankex up 0.83% last week and 4.52% in the past one month; the realty index up 0.72% and 9.47%, respectively, and the auto index up 0.92% and 1.56%, respectively. The yield on the benchmark 10-year government security is at 7.68%—here, too, the rise has been only 4 basis points in the past week. One basis point is one-hundredth of a percentage point. The markets love “calibrated” tightening.

by ESG-Network ·

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Friday, July 16, 2010

Google’s Q2 earnings rise 24% but miss target

The letdown announced on Thursday stemmed from Google’s expanding payroll and a run-up in the US dollar that has been driven by fears that the euro will crumble if governments in Greece, Spain, Portugal and Italy default on their perilously high debts 

San Francisco: Google Inc.’s second-quarter earnings missed analysts’ target as higher expenses and the fallout from the European debt crisis dragged down the Internet search leader.

The letdown announced on Thursday stemmed from Google’s expanding payroll and a run-up in the US dollar that has been driven by fears that the euro will crumble if governments in Greece, Spain, Portugal and Italy default on their perilously high debts.

The worries hurt Google because about one-third of the company’s revenue comes from Europe, and customer payments made with the euro translated into fewer dollars than a year ago. Even so, the currency squeeze wasn’t as severe as some analysts anticipated.

Meanwhile, Google is spending more to maintain its commanding lead in Internet search while it also tries to diversify by developing products in other promising niches such as online video and mobile devices. To help achieve its goals, the company added nearly 1,200 employees in the second quarter to end June with more than 21,800 workers.

Despite the rising expenses, Google’s net income rose at a fast clip as second-quarter revenue came in slightly above analysts’ forecasts. But the earnings growth wasn’t quite as robust as analysts had hoped, a factor that seemed to amplify investor concerns already weighing on Google’s stock price.

Google shares fell $20.49, or more than 4%, in extended trading Thursday after the release of results. Earlier, the company finished the regular session at $494.02, up $2.68.

Although Google remains the Internet’s most profitable company, investors have been fretting about signs of decelerating growth amid stiffer competition from Apple Inc., Facebook and Microsoft Corp. On top of those challenges, a showdown over online censorship in China that has muddied Google’s future prospects in the world’s most populous country.

Thursday’s report offered some encouraging news, though.

In a positive sign for the overall economy, marketers were willing to pay more for the online ads that generate virtually all of Google’s income, and people are clicking on the commercial messages more frequently. Those trends provide another indication that more companies and shoppers are feeling a little better as they recover from the worst economic downturn in more than 70 years.

“We are really pleased with the way we are performing in this economy,” Patrick Pichette, Google’s chief financial officer, said during a Thursday conference call with analysts. “That’s why we feel confident about the future.”

Google, which is based in Mountain View, earned $1.84 billion, or $5.71 per share, in the April-June period, up 24% from $1.48 billion, or $4.66 per share, a year ago.

If not for expenses covering employee stock compensation, Google said it would have made $6.45 per share. That figure was below the average estimate of $6.52 per share among analysts polled by Thomson Reuters.

Revenue climbed 24% to $6.82 billion, from $5.52 billion a year earlier. After subtracting commissions paid to its ad partners, Google’s revenue stood at $5.09 billion about $10 million above analyst projections.

In other key figure watched closely by investors, the number of revenue-generating clicks on Google’s ads in the second quarter increased 15% from the same time last year. The gain is in the same range as the increases in the past year.

The average price per ad click in the second quarter edged up 4% from last year, but it’s slower than the growth seen during the previous two quarters.

After clamping down on its costs most of last year, Google has been spending more freely because management believes the U.S. economy is steadily rebounding, with electronic commerce and the rest of the technology sector leading the charge.

Google has brought in nearly 2,000 employees during the first half of this year, through both recruitment and a flurry of mostly small acquisitions. The company’s spending on data centers and other projects known as capital expenditures totaled $476 million, more than tripling from the same time last year.

Pichette said the company plans to continue investing in more employees and technology as it tries to position itself to take advantage of an improving economy.

To help pay for its ambitions, Google said Thursday that it will take on significant debt for the first time in its six years as a public company, even though it has $30 billion in cash. The company’s board of directors approved a plan to borrow up to $3 billion.

Friday, July 16, 2010 by estudentsguide.com ·

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Sunday, July 11, 2010

German labour office chief says crisis not over

It's too early to say the economic crisis in Germany has passed because considerable risks to the recovery remain, the head of the Federal Labour Office, Frank-Juergen Weise, was quoted as saying on Saturday.

Weise told German newspaper Rheinpfalz am Sonntag that while developments on the labour market were better than expected, he was worried "the economic crisis is being declared over," he said in excerpts from an article due to appear on Sunday.

"There are still major uncertainties," Weise said.

Adjusted for seasonal swings, unemployment fell for a 12th straight month in June to its lowest level since December 2008. However, concerns about the outlook for 2011 cast some doubt over whether the jobless total could fall much further.

The German economy suffered easily its biggest postwar recession in 2009, shrinking by some 5%. Since then, an export-led recovery has enabled the country to make up a substantial portion of the ground lost in the slump.

Many analysts believe Europe's largest economy probably grew by at least one percent in the second quarter, accelerating from 0.2% in the January-March period. However, leading indicators suggest the recovery may slow in the months ahead.

Sunday, July 11, 2010 by ESG-Network ·

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Thursday, July 8, 2010

M&A deals brewing in banking

In efforts to play the role of a matchmaker, investment bankers are tracking some old pvt banks in the south. HDFC Bank Ltd, Kotak Mahindra Bank Ltd and IndusInd Bank Ltd. have set their eyes on acquisitions. 

The Indian banking industry may see a few mergers and acquisitions (M&A) deals this year, ahead of the banking regulator releasing the licensing norms for new banks that are expected to open for business in the next two years.

At least three new generation private sector banks— HDFC Bank Ltd, Kotak Mahindra Bank Ltd and IndusInd Bank Ltd—have set their eyes on acquisitions.

It is not known whether they have given a mandate to investment bankers for such acquisitions, but some dealmakers are independently reaching out to potential acquirers with suggestions on possible targets.

At least one foreign bank is recommending stocks of some south India-based old private banks to its high networth clients for investment because it feels that the market value of these banks will substantially go up once they are actively wooed by the new generation banks for possible acquisitions.

Addressing shareholders at HDFC Bank’s annual general meeting last week, managing director and chief executive officer Aditya Puri said he would look for a merger with a bank in the southern part of the country.

Kotak Mahindra Bank has already created a war chest for acquisitions by selling 4.5% stake in the bank for $296 million (around Rs1,400 crore today) to Sumitomo Mitsui Financial Group Inc. Its vice-chairman and managing director Uday Kotak has previously said that he is “sniffing around” for acquisitions.

Kotak recently conducted due diligence on CitiFinancial Consumer Finance India Ltd (CitiFinancial) that gives home and personal loans to retail borrowers in the low income segment, but the deal did not go through. It is now looking closely at a south India-based old bank, an executive at another bank said, asking not to be identified.

There have been talks in investment banking circles that IndusInd Bank, too, is actively looking at some proposals.

Its managing director and chief executive officer Romesh Sobti told Mint his bank is “open to acquisitions as we now feel we have the financial muscle and required managerial skill to look at opportunities”, but declined to divulge details.

An official of the Hinduja group, of which IndusInd Bank is a part, speaking on condition of anonymity said the bank has not appointed any investment banker as yet, but had received a proposal from one investment bank. “We are open for inorganic growth options if we get the right opportunity at the right price,” he added.

IndusInd Bank had acquired Ashok Leyland Finance Ltd, also part of the same group, in April 2003.

Investment bankers are closely tracking some old private banks, such as City Union Bank Ltd, Karnataka Bank Ltd, Federal Bank Ltd, Karur Vysya Bank Ltd, South Indian Bank Ltd and the unlisted Catholic Syrian Bank Ltd. These may or may not be available for acquisitions, but investment bankers are talking to most of them in their efforts to play the role of a matchmaker. Federal Bank is the most valuable among them with a market capitalization of close to Rs6,000 crore.

Once the new banks open for business, competition will intensify and many of these banks may find it difficult to grow; new generation private banks are aggressively looking at opportunities to expand their branch network and widening their presence pan India.

ICICI Bank Ltd, India’s largest private sector lender, is in the process of acquiring Bank of Rajasthan Ltd for its 463 branches. ICICI Bank had earlier acquired Bank of Madura Ltd and Sangli Bank Ltd, again for their branches, and their presence in southern and western India, respectively.

HDFC Bank has acquired two banks in the past—Times Bank Ltd and Centurion Bank of Punjab Ltd.

“Most of the south-based private sector banks fit the bill in terms of providing scale and penetration,” said the MD and CEO of a private sector bank, speaking on condition of anonymity as his bank is also looking for possible acquisitions.

His bank is not one of the three banks named in the beginning of this story.

However, analysts and consultants said the task will not be easy as many of these banks have a dispersed ownership and active trade unions.

“The issue with some of the listed south-based banks is that they have a dispersed shareholding. In the presence of a dominant shareholder, negotiations becomes easier, but in cases where the holding is scattered, (getting) everybody on the (same) page becomes very difficult,” said Bobby Parikh, managing partner of tax consultancy BMR and Associates.

Unionized employees, typically, oppose any merger for fear of losing their jobs, but in most cases despite their opposition, the mergers go through. The employees of the erstwhile Lord Krishna Bank Ltd had opposed its merger with Centurion Bank of Punjab and delayed it by a year, but could not stall it. After this merger, Centurion Bank of Punjab was acquired by HDFC Bank.

G. Chokkalingam, director and head (research and strategy) at Barclays Wealth India, said there are seven-eight listed old generation private sector banks, which have grown rapidly in the last six-seven years and “they do not have any identifiable promoter”.

“The entity who gets the banking licence will take at least one-two years to set up shop. In anticipation, we can see some of the players acquiring strategic stake in some of these old private sector banks,” he added.

Some of the companies that aspire to float banks already hold stakes in some old private banks. For instance, Larsen and Toubro Capital Holding Ltd holds 4.81% stake in City Union Bank and 4.68% in Federal Bank. Tata Capital Ltd holds 3.29% stake in Development Credit Bank Ltd and Reliance Capital Trustee Co. Ltd holds 1.14% stake in Dhanalakhmi Bank Ltd.

“The latest acquisition in old private sector banking space (Bank of Rajasthan) has taken place at 5.5 times adjusted bookvalue. Whereas few high quality, fast growing banks in this space are available around two times their adjusted book value... We find this segment still quite attractive,” said Chokkalingam.

Analysts find these banks an attractive proposition for potential buyers as their customer focus is largely on small and medium enterprises, which will drive asset growth in the future.

 

Thursday, July 8, 2010 by ESG-Network ·

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