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Fortune WorldECONOMY & POLITICS

RNI NO:KARENG/2010/353381 VOL : 3 ISSUE.NO.963 DAILY BANGALORE,INDIA 23 MARCH 2013 Pages - 4 $.1/-USD

22 March 2013:BP an-nounced today that it in-tends to carry out a sharerepurchase, or buy-back,programme with a totalvalue of up to $8 billion.Today’s decision to buyback shares follows thecompletion yesterday of thesale of BP’s 50% interestin TNK-BP to Rosneft. Theprogramme is expected toreturn to BP shareholders

March 22, 2013 12:00 PMEastern Daylight TimeDeepwater projects are lat-est investment in strategicregionSAN RAMON, Calif.--(B.W)--Chevron Corporation(NYSE: CVX) announcedthat its subsidiary ChevronOverseas (Congo) Limitedwill proceed with the jointdevelopment of the Moho

A lack of consumer confi-dence will pose a "signifi-cant challenge" to smallfirms in the coming year, abusiness group has warned.The Federation of SmallBusinesses (FSB) said thecontinued decline of thehigh street was putting com-panies at risk amid ever in-creasing competition fromsupermarkets and internetshopping.Longer working hours andthe growth of convenienceshopping, as well as theinternet, were putting smallbusinesses at risk, it said.Mike Cherry, policy chair-man of the FSB, told itsannual conference in Le-icester: "Once the highstreet starts to go into de-cline it can be difficult torevive. But with the rightmeasures from councilsand local authorities the tidecan be turned.

10 Years after the Iraq War began, thebiggest photography exhibition in theworld opens - Leave Us Alone! AnAnti-war Photography Exhibit by NikoGuido between 23rd - 27th Mar '13 atSublime Galleria

Turkish Embassy Joins Hands With SublimeGalleria to Promote World Peace

BANGALORE, March 22,2013:Unique Exhibition toShowcase Photographs ofthe Ravages of War in IraqThe Turkish Embassy andthe Sublime Galleria presentan exclusive PhotographyExhibition of eminent hu-manitarian photojournalistNiko Guido who has travelledthe world to highlight theplight of war-torn societies.The heart-rending photo-graphs will be on displayfrom March 23rd to 27th,2013.The exhibition is a partof the anti-war photographyproject to bring to the forethe plight of wounded Iraqicivilians of the Iraq war. Thisexhibition will be held on thesame day (23rd March 2013)in over 8 countries aroundthe world - like USA, UK,

France, Turkey, etc to namea few, to mark the 10th an-niversary of the Iraq war. Theeffort is an initiative to show-case to the world as to howthe war has affected the livesof the civilians in Iraq and tosay "No to War".AddsUzma Irfan, Founder of theSublime Galleria & Execu-tive Director, Corporate Com-munications, PrestigeGroup, "The travails of warleave behind a steady trailof misery and destruction,while permanently impact-ing the lives of scores of in-nocent in its path. This ex-hibition in association withthe Turkish Embassy is aneffort to highlight this trav-esty and to encouragepeople to think about waysand means for a peacefulworld sans war."I've been to Amman, capitalof Jordan, in 2010 as well aslast year, portraying Iraqi ci-vilians who had plastic sur-geries.Let's be clear: Our brains,fed up by visual media, arenot affected by powerful im-agery as they used to just afew years ago. It is gettingharder every single day forthe documentary photogra-pher to draw attention to theproblems of the World andHumankind.-PhotographerNiko Guido

Chevron Makes Final Investment Decision on Moho NordJoint Development Offshore Republic of the Congo

Bilondo “Phase 1 bis” andMoho Nord projects as thecompany's latest deepwaterdevelopments offshore theRepublic of the Congo. “We are proud to partnerwith the Republic of theCongo to develop thenation’s offshore resourcepotential”“Moho Nord is among astrong queue of major capi-

tal projects that will provideChevron with future growth,”said George Kirkland, vicechairman, Chevron Corpora-tion. “With the project, wewill enhance our position inthis prolific deepwater ba-sin.”Situated approximately 46miles (75 kilometers) off-shore southwest of Pointe-Noire in water depths rang-

ing from 1,500 to 4,000 feet(450-1,200 meters), theMoho-Nord joint develop-ment is the largest-ever oiland gas project in the Re-public of the Congo. TheMoho Bilondo “Phase 1 bis”project includes wells tiedback to an existing floatingproduction unit with a pro-cessing capacity of 40,000barrels of oil per day. Pro-

duction in the permit areabegan in 2008 with the MohoBilondo 1E development.The Moho Nord project in-volves a tension leg platform,a floating production unitwith a processing capacityof 100,000 barrels of oil perday, and a new 50-mile (80kilometer) pipeline to theonshore Djeno terminal.

BP to Buy Back $8 billion of Shares, Returning its 2003 Investment inTNK-BP to Shareholders

an amount equivalent to thevalue of the company’s origi-nal investment in TNK-BP.In 2003 BP invested around$8 billion in cash, sharesand assets in the formationof TNK-BP. Over the follow-ing decade BP received atotal of $19 billion in divi-dends from the joint venture.BP sold its interest in TNK-BP to Rosneft, followed bya reinvestment in Rosneft

shares, for an overall con-sideration of $12.48 billion incash (including $0.71 billionin TNK-BP dividends re-ceived by BP in December2012) together with sharesrepresenting 18.5% ofRosneft. As a result, BP nowholds a 19.75% interest inRosneft.BP Group ChiefExecutive Bob Dudley said:“BP is moving on to the nextphase of its business in

Russia, becoming the larg-est private shareholder inRosneft, Russia’s leadingoil company. In the processwe have also releasedcash, equivalent to at leastsix years of BP’s antici-pated future dividends fromTNK-BP. We look forwardnow to working closely withRosneft and together devel-oping opportunities to cre-ate value for both compa-

nies.”Dudley said that thesize of the proposed buy-back programme, which isexpected to exceed that re-quired to offset the earningsper share dilution expectedas a result of the sale ofTNK-BP, also reflected thereduction in BP’s assetbase following its major $38billion divestmentprogramme over the pastthree years.

Small businesses'placed at risk'

Legal action is about to belaunched on behalf of morethan 100 workers whosenames appeared on a black-list of mainly constructionemployees.The GMB union said it isabout to launch High Courtaction on behalf of its mem-bers whose names are onthe list and has called for aninquiry to find out what theinformation was used for.The list, containing morethan 3,200 names, was keptby the now-closed-downConsulting Association, andwas used by employers tocheck on workers involved inunion or political activity orthose who raised health andsafety issues.The list, which also includedaround 240 female environ-mental activists, hassparked an inquiry by theScottish Affairs Select Com-mittee.

Legal action overworkers blacklist

FORTUNE WORLD - 23 MARCH 20132 FINANCE WORLD2

EDITORIAL

One Gateway Techno Services launches in Hyderabad with Sourav Gangulyas the brand ambassadorIndia’s first integrated iden-tity management companywill address Rs 10,000-crore market opportunity toprovide solutions for issuesrelating to multiple identitiesMarch 22, 2013, Banga-lore– Vishwanath (Vish)Sivaswamy, one of the lead-ing serial entrepreneurs inthe country, today an-nounced the formation andlaunch of his new initiativecalled ‘One GatewayTechno Services Pvt. Ltd.’,aimed at addressing the Rs.10,000 crore (estimated)unmet need for identity man-agement solutions and ser-vices. Vish, who is the pro-moter, will be the CEO andthe Managing Director ofthis new company. He alsoannounced that SouravGanguly, one of India’s fin-est cricketers and the formerIndian cricket team captain,will be associated with thecompany as its brand am-bassador. One Gateway

Techno Services will soonstart rolling out identity man-agement solutions for con-sumers, government andenterprises. With the keyfounding objective being“SIMPLIFY LIFE”, the com-pany aims at making aspi-rations accessible for thecustomer.

Announcing the launch ofOne Gateway Techno Ser-vices, its MD & CEO, Vishsaid, “Individuals and busi-nesses (entities) interactand access information,avail privileges, and conducttransactions. Identity is thecurrency of these interac-tions between different enti-

ties. However, in today’sworld, entities — individualsand businesses alike —carry multiple versions ofidentities, and most of whichhave limited currency. Man-aging multiple identitiescomes at a cost and an in-creased risk of identity theftand fraud.”

He added, “The cost of man-aging identities and the as-sociated risk is borne by theidentity holder as well asother stakeholders such asbusiness establishments,governments, and society atlarge. This situation can besimplified by aligning thecost structure to value deliv-ery. One Gateway TechnoServices will provide uniqueidentity management solu-tions to consumers and es-tablishments that are de-signed to make process ofidentity management faster,more secure, and above allfar more convenient and sim-pler. We believe the quantumof the market opportunity inIndia for such services ismore than Rs 10,000 croreand One Gateway TechnoServices will look to activelyaddress this market. We areplanning to soon come outwith various pilots and solu-tions to test this market.”Talking about his associa-

tion with the brand, Mr.Sourav Ganguly, the formerIndian cricket team captain,said "I am quite proud to beassociated with such aunique business venture.Effective identity manage-ment is becoming a criticalissue as more and moreindividuals engage in vari-ous transactions and seekaccess to services on adaily basis. I am sure OneGateway Techno Serviceswill provide unique identitymanagement solutions toconsumers and establish-ments that are designed tomake process of identitymanagement faster, moresecure, and above all farmore convenient and sim-pler."Globally, Govern-ments are the ‘primary’identity issuing authoritiesand accomplish thatthrough the issuance ofdocuments such as Pass-port, Social Security Num-bers, Aadhar cards, etc.

March 22, 2013 07:00 AMEastern Daylight TimeLeader in Rent-to-Own In-dustry Realizes SignificantResults Across 4,000 RetailLocationsSOMERS, N.Y. & SANMATEO, Calif.--(B. W.)--IBM(NYSE: IBM) and CoupaSoftware today announcedthat Rent-A-Center, Inc.(NASDAQ: RCII), thenation’s largest rent-to-ownoperator, has achieved mil-lions in savings by optimiz-ing and centralizing its pur-chasing process in thecloud. “Rent-A-Center isan example of how SaaScan speed delivery of ser-vices and eliminate techni-cal complexity found with

The UK's credit ratinghas suffered a freshblow after a majoragency placed it onwatch for a down-grade.Fitch warned thecountry faced a nega-tive outlook days afterChancellor GeorgeOsborne unveiled dire

growth and borrowing figures in the Budget.Another of the big ratings agencies, Moody's, became thefirst to strip Britain of its gold-plated AAA assessment lastmonth.Fitch has placed the UK on "rating watch negative", indi-cating there is a "heightened probability of a downgrade inthe near term".It expects to complete a full review of the sovereign creditrating by the end of April.The agency said the move "reflects the latest economicand fiscal forecasts published by the Office for BudgetResponsibility (OBR) that indicate that UK government debt

Fresh blow for UK credit ratingwill peak later and at a higher level than previously ex-pected by Fitch".The OBR is now predicting that general government grossdebt (GGGD) will peak at 100.8% in 2016-17 - a level Fitchhas previously suggested would result in a downgrade."The persistently weak performance of UK growth, in partdue to European growth, has increased uncertainty aroundthe UK's potential output and longer-term trend rate ofgrowth with significant implications for public finances,"said the agency.Shadow Treasury minister Chris Lesliesaid: "This is yet another blow to a downgraded Chancel-lor who made keeping the confidence of the credit ratingagencies the number one test of his economic policy. Whatreally matters are the economic realities which Fitch areresponding to including, as their statement says, 'the per-sistently weak performance of UK growth'."George Osborne's plan has catastrophically failed ongrowth, living standards and the deficit. But instead of achange of direction and action to kickstart the flatliningeconomy all we got this week was more of the same fail-ing policies. That's why this more of the same Budget willbe remembered as a wasted chance to change coursebefore it was too late."

Rent-A-Center Saves Millions through Cloud Procurement Innovation withCoupa and IBM Smarter Commerce

other solutions.”With ap-proximately 4,000 locationsand 20,000 employees,Rent-A-Center was chal-lenged with a highly de-cen-tralized and manual pur-chasing process with low

employee adoption. In addi-tion, the onboarding of sup-pliers was extremely time-consuming and compli-cated. As a result, the com-pany was not efficient atconsolidating purchasing to

influence pricing or optimiz-ing its contract, invoicingand supplier managementprocesses.Tasked with re-vamping the entire procure-ment process for greater ef-ficiency and savings, Rent-A-Center relied on the com-bined power of procurementsolutions offered by IBMSmarter Commerce andCoupa to streamline itsspending.As a result, be-tween 2010 and 2012, the$3 billion rent-to-own retailerincreased visibility intospending by automatinghow it sources – or finds andsecures materials – for 90categories of indirect spend,such as store office sup-plies. From 2011 to 2012,the company consolidated

its supply base, reducing itby 10 percent, and de-creased the number of in-voices by 5 percent. Rent-A-Center is currently saving,on average, 10 percent onthe categories it has auto-mated.Mike Wilding, seniorvice president of accounting,global controller and CPOfor Rent-A-Center, com-mented on the company’ssuccess in transforming itsprocurement processes,“The IBM and Coupa integra-tion has been fundamentalin driving our positive resultsas we revamped our pro-curement efforts. A majorpart of our transformationfocused on increasing pro-ductivity by automatingmanual processes like in-

voicing and contracts. Weare very pleased with oursavings to date, and we areon track to achieve our sav-ings targets over the nextfew years.”Using IBMEmptoris capabilities deliv-ered via a software-as-a-ser-vice (SaaS) model, Rent-A-Center has quickly reducedsourcing costs and cycletimes and increased ac-counts payable productivity.By subscribing to a SaaSmodel, the company hasbeen able to accelerate itscost savings and return oninvestment, and easily in-crease capacity for largesourcing events and peaksin activity.

Why Marconi needed Sarnoff. Our remarkable inability tosee the future. Even pioneers lack vision. Railroads weredeveloped to feed canals. Understanding uncertainty mayhelp us place better bets on new technologies.Few woulddisagree that technological change is a major ingredient oflong-term economic growth, or that it is beset by a highdegree of uncertainty. Understanding the nature of thisuncertainty and the obstacles to surmounting it is not atrivial matter. It goes to the heart of how new technologiesare devised, how rapidly and far they spread, and how theyaffect economic performance.The deep uncertainty asso-ciated with innovation makes it hardly surprising that inno-vating firms have historically experienced high failure rates.Indeed, the vast majority of attempts at innovation fail. Butthis is only part of the story. A more intriguing field of en-quiry might be the apparently widespread inability to an-ticipate the future impact of successful innovations, evenafter their technical feasibility has beenestablished.Uncertainty has a number of peculiar proper-ties that shape the innovation process and hence the wayin which technological change exercises its effects on theeconomy.

Innovation’s uncertain terrain

FORTUNE WORLD -23 MARCH 2013 3BUSINESS WORLD

INTERNATIONAL BRIEFS

March 22, 2013,NEWYORK--(B.W.)--San Fran-cisco, Calif.-based MarinSoftware, a provider of aleading digital ad manage-ment platform for advertis-ers and agencies, openedfor trading today on the NewYork Stock Exchange(NYSE) under the tickersymbol “MRIN” after its ini-tial public offering. GETCOSecurities LLC is the Des-ignated Market Maker forthe company’s stock. MarinSoftware is the first com-pany in the advertising tech-nology sector to go publicin 2013. “We are thrilled to wel-come Marin Software, thefirst advertising tech IPO of2013, to our network of in-novative companies”Founder and CEO ChrisLien, accompanied bymembers of MarinSoftware’s leadership team,celebrated the company’sfirst day of trading by ring-ing the NYSE OpeningBellSM and visiting the trad-ing floor to observe thestock opening.“We are thrilled to welcome

Bengalurians enthusiastically supported the campaign toproduce eco-friendly energy to light stores during EarthHourBengaluru 22nd, March 2013: Woodland, country’s lead-ing outdoor adventure gear brand joined hands with WWFthis year on occasion of Earth Hour supporting its theme -“Switch to Renewable Energy”. Earth Hour will be celebratedglobally on 23rd March 2013 between 8:30 PM and 9:30PM. As mere turning off lights for an hour will not suffice,Woodland therefore is encouraging to take the Earth Hourto the next level of switching to Renewable Energy whichis the highlight of the WWF campaign this year.Woodland exclusive store on Commercial Street, Bengaluruis going to propagate the theme by special installations inthe store for public awareness and participation. Wood-land has installed a specially designed stationary bi-cyclewith a battery as part of the initiative. Excited Bengaluriansare actively taking part in generating power manually bypeddling the cycle that will later illuminate the store duringthe earth hour celebrations at Woodland Stores.Speaking on this occasion, Mr. Harkirat Singh, ManagingDirector, Woodland said, “Earth Hour is an Internationalphenomenon that has been successfully led and nurturedby WWF. The concept revolves around conservation, cre-ating sustainable environment that is totally in alignmentwith a brand like us. We are proud and excited to associ-ate with them for this outreach programme and get this toKarnataka. Karnataka is known to be an environment con-scious state and thus, we see a lot of people participationfor our campaigns in the state. We are already running apilot project of becoming Carbon Neutral starting with ourretail stores present in Karnataka that will be later upscaledon a national level. We will continue to partner with suchlike-minded organizations; encouraging participation fromWoodlanders. Our mission is to highlight our stand as aneco-friendly brand and we have embarked on several eco-friendly initiatives to accomplish the same.”

Reliance Industries on Friday said it has been awardedthe prestigious 'International Refiner of the Year' 2013 atHART Energy's 27th World Refining & Fuel Conference atSan Antonio, Texas, USA."The award was presented to RIL for producing cleaner,higher-quality gasoline and diesel fuel, operating with thehighest international refining standards and innovative useof resources in diverse environments and for innovation,global vision, and ability to chart future changes," the com-pany said in a statement.Mr.K Balachandran, Chief of Operation (Jamnagar Refin-ery and Petrochemical Complex) accepted the award onbehalf of RIL and its employees.This is the second time that RIL has received this Awardfor its Jamnagar Refinery, the first being in 2005. RIL is theonly Asian refiner to have been conferred this award twice.RIL operates two of the world's largest and most complexrefineries. With 1.24 million barrels per day of crude pro-cessing capacity, RIL is the largest refiner at any singlelocation in the world.The company had a 33 million tons refinery and a few yearsago added an only-for-exports 29 million tonne unit thattransformed its Jamnagar complex into the 'largest refin-ing hub of the world'.RIL is among the Top 10 private sector refining companiesglobally, and owns 25 per cent of the world's most com-plex refining capacity.

First Advertising Technology IPO of 2013, Marin Software,Celebrates First Day of Trading on the New York Stock Exchange

Marin Software, the first ad-vertising tech IPO of 2013,to our network of innovativecompanies," said Scott Cut-ler, Executive Vice Presi-dent, Head of Global List-ings, NYSE Euronext.“Many of the world’s mostrecognized brands dependon Marin Software’s indus-try-leading tools to effec-tively manage their advertis-ing spend and optimize re-sults.

We congratulate MarinSoftware as it makes itspublic debut and look for-ward to a long-standing part-nership with the companyand its shareholders.”“Today is an exciting nextstep for Marin Software aswe build a global softwareleader. I am grateful for thesupport from our custom-ers, team members, part-ners, and investors,” saidChris Lien, Chief Executive

Officer and Founder ofMarin Software. “Our mis-sion is to enable marketersto realize the full potentialof digital advertising.Our Revenue AcquisitionManagement platform en-ables marketers to mea-sure, manage, and optimizetheir search, display, social,and mobile advertising pro-grams to drive superior rev-enue outcomes.

Woodland brings ‘Earth Hour’ initiative toBengaluru in association with WWF

Moxtra Announces Official Launch in India

Bangalore, Karnataka, India, Friday, March 22, 2013 --Official launch of the Moxtra service in India, supported byopening of India offices for customer support and App de-velopment.Moxtra, a provider of productivity and collaboration solu-tions for personal and business, today announced the offi-cial availability of the Moxtra service as well as the open-ing of its APAC headquarters in Bangalore, India. From itsBangalore offices, Moxtra will provide technical and cus-tomer support and start App development.“Bangalore is the perfect city for Moxtra to locate its APACheadquarters,” said Subrah S. Iyar, CEO and co-founder ofMoxtra. “This is the 2nd time that I am locating corporateoffices in Bangalore. At WebEx, our Bangalore operationswere instrumental in driving our APAC growth and I amconfident they will do the same for Moxtra.”Mr. Iyar co-founded WebEx in 1999 and started the WebExBangalore operations in 2005. Cisco bought WebEx in2007.“From our Bangalore offices, we will be supporting our glo-bal customer base. Since the launch of our App in Januarywe’ve seen a strong global interest in Moxtra”, said Mr.Iyar. “One other area of focus for our Bangalore offices willbe App development.”Moxtra’s Asia-Pacific headquarters will be run by KiranDatar. Prior to Moxtra, Mr. Datar served as director of Asia-Pacific public sector collaboration at Cisco. “The responseto Moxtra so far has been wonderful”, said Mr. Datar, VPand GM Moxtra APAC. “Especially in the art and photog-raphy sector, Moxtra is changing how people collect andshare their portfolios.”“A good example of this is Artflute, an online platform that

collects and markets, Indian contemporary art.”“We decided to work with Moxtra to create and showcaseour extensive art collection in a digital binder format.” SaidMrs. Chandni Harlalka, Founder of Artflute. “The applica-tion is a brilliant idea and it has made demonstration of themulti-media content for our graphic art apparently seam-less. Moxtra has helped us in creating theme based ArtBinders which includes the artwork, voiceover commen-tary describing each of the works and its inspiration. Thisin turn has substantially increased the appeal of our artwork to the potential customers. Moreover, the exclusivedigital preview which Moxtra Binders allows has enabled ingiving a significant edge to our artwork and provided a plat-form for it to reach to the global audience. We really appre-ciate the contribution from Moxtra for launching such aninnovative application which has helped in transformingmulti-media collaboration into a visual storyteller”.

RIL bags Refiner of the Year Award

India's exports may not be able to reach even the last year'slevel of about USD 306 bn, and the trade deficit is likely towiden between USD 193 bn and USD 196 bn in the currentfiscal, Commerce and Ind Min Anand Sharma said."We are looking at the number (exports) and what is verydisturbing and challenging is that we have not even reachedwhere we were before (last fiscal's) USD 306 billion," Sharmasaid at the Board of Trade meeting in New Delhi on Friday.The high-level Board of Trade (BOT) meeting was chairedby Sharma and had representation from the ministries ofFinance, External Affairs and Micro and Small and Me-dium Enterprises.The Board of Trade meeting suggestssteps to prepare the way for the annual supplement to theForeign Trade Policy (2009-2014), expected to be unveiledin April.Given the high level of imports and lesser exports,the trade deficit will become challenging because it directlyaffects the current account deficit, which in turn will putpressure on rupee, Sharma said.He added a weak rupeewould also not help Indian exporters, as importers who willalso feel the pinch will ask for more discount."The tradedeficit was USD 182 billion in the first 11 months of thisfiscal. Whether it will be USD 12 billion or USD 15 billionmore (in March)... trade deficit will definitely be betweenUSD 193 billion and USD 196 billion in the currentfiscal."This is not a small number and that is where thecrisis is. Therefore every institution must ensure fastermovement," Sharma said.

The truncated share sale by the government in steel markerSAIL on Friday received bids for just about 98 percent ofthe offer size at the close of trading on stock exchanges.Offers for 23.53 crore shares or 97.9 percent of the 24.03crore shares on offer, were received at close of trading hours,according to data from stock exchanges.The indicative pricewas Rs 63.07 apiece, that would fetch the exchequer Rs1,484 crore from the disinvestment, as against the govern-ment target of Rs 1,514 crore.Offering a measly 1.41 per-cent discount over previous closing price, the governmenthad fixed the floor price at Rs 63 per share for selling its5.82 percent stake.However, it failed to cheer the investors- both retail and institutional - and in all, the issue got23,53,48,345 bids amounting to 97.9 percent of the totaloffer at the close of the trading hours.

Exports in FY'13 unlikely to touch lastyear's level: Sharma

SAIL OFS gets 97.9% bids at Rs 63.07

FORTUNE WORLD - 23 MARCH 20134

FW GROUP OF PUBLICATIONS-INDIA EDITOR-IN-CHIEF : SRINIVAS B.L. PUBLISHED AND PRINTED BY SRINIVAS.B.L-KMSP,BANGALORE-INDIA,DIGITAL SOLUTIONS. MVM, BANGALORE - INDIA.SAARC MEDIA ENQUIRES: 9663982684 UNSOLICITED MATERIAL MAY NOT BERETURNED. THE OPINIONS OF WRITERS ARE THEIRS, NOT OURS. WE ARE NOT RESPONSIBLE FOR INCORRECT LISTINGS AND INFORMATION. WE DO ALL WE CAN TO ENSURE CORRECTNESS, BUT READERS ARE ADVISED TO RECHECK WITH ESTABLISHMENTS. NOPART OF THIS PUBLICATION SHOULD REPRODUCED WITHOUT OUR WRITTEN PERMISSION. LEGAL JURISDICTION RESTRICTED TO BANGALORE CITY ONLY.

ASIAN WORLD

The Union Minister for Commerce & Industry and Textiles, Mr. Anand Sharma chairing the Board of Trade Meeting, in New Delhi on March 22, 2013. The Ministerof State for Commerce & Industry, Dr. (Smt.) D. Purandeswari is also seen.

Will cover 1265 kmacross – Gwalior, Panna,Bandhavgarh, Kanha,PenchMumbai, March 20,2013: Tata Motors FullThrottle, the motorsportdivision of Tata Motors,

will flag off its sixth expedition Tata Motors Full ThrottleJungle Experience, from the capital on 23rd March, 2013.The Jungle Experience will pass through– New Delhi,Panna, Bandhavgarh, Kanha, Pench, over a period of 5days and cover a total distance of 1265 Km. The expedi-tion will culminate in Pench in Madhya Pradesh, on March27th, 2013.With over 20 Tata Motors’ utility vehicles participating inthe event, the route has been carefully planned to providefor an unforgettable motoring experience, with relaxed driv-ing and adequate breaks.The expedition will cover forests, beautiful lakes, and safa-ris allowing participants to experience varied terrains andweather conditions, as they pass through each state. Theexpedition will also give Tata Motors’ customers a platformto experience the true capabilities of their favourite TataSUV’s, as they explore off-roading in a planned and orga-nized manner..Tata Motors is associating with CougarMotorsport as the program partner, for planning and ex-ecution of the event. Tata Motors will organize all logisti-cal, medical and service support for these expeditions.Tata Motors’ Jungle Experience is the final expedition (forFY13), by Tata Motors Full Throttle, for owners of TataMotors utility vehicles. The earlier five expeditions were -the Himalayan Experience, the Konkan Experience, theThar Experience, the Kutch Experience and the Nilgiri Ex-perience.To be a part of this adventure and luxury expedi-tion, off-roading enthusiasts can mail atexperiences@tatamotorsfullthrottle.com and visit us athttp://www.tatamotorsfullthrottle.com/

SPORTS WORLDTata Motors Full Throttle JungleExperience flags off from New Delhi

Bosch Power Tools sets up India’s first DIY Square in BangaloreIn association with channelpartner Kayvee AssociatesBangalore- Bosch PowerTools, the world leader inpower tools segment, todayannounced the launch of‘DIY Square’ – the first of itskind touch-feel-try centre inBangalore, in collaborationwith Kayvee Associates.The studio cum experiencezone – ‘DIY Square’ was in-augurated by leadingBollywood actor PrachiDesai – the face of BoschPower Tools and Mr. VijayPandey, Vice President,Bosch Power Tools, India.Equipped with a wide rangeof tools in the Home, Hobbyand Garden category thecentre apart from offeringconsumers hands-on expe-rience of working with powertools for basic home needsalso allows them to discovera world of hobbies that canbe pursued with tools.Speaking on the occasion,Mr. Vijay Pandey, VicePresident, Bosch PowerTools India said, “’DIYSquare’ is our endeavor tostart a DIY revolution in In-dia and own the space. Wewant to reach out to cus-tomers and create an envi-ronment for them to experi-ence and have fun throughthe Do-It-Yourself approach.At this experience zone cus-

tomers can come togetheras groups, friends, and fami-lies to create objects of in-terest with very exciting andeasy to use products. Todaymany live a very inactivelifestyle and we have forgot-ten the joy of doing thingson our own. Through this initiative,Bosch is all set to encour-age customers not just to beself-reliant but also developa hobby, create interestingobjects of decor and caterto their various Home,

Hobby and Garden require-ments. We will reach out tothe Indian consumers throughthis DIY Square, dedicatedpromotional campaignamong many other initia-tives.”‘DIY Square’ is a pioneeringinitiative by Bosch PowerTools to bring alive the Do-It-Yourself (DIY) category in In-dia. The ‘DIY Square’ will of-fer ease of procuring workingmaterials for the consumers.This will be a one-stop solu-tion outlet providing a com-

plete range of Bosch homeimprovement tools at an af-fordable price.The customers can alsoseek expert help whileworking on their projects atthe DIY Square.Commenting on her asso-ciation with Bosch PowerTools, Prachi Desai said,“Being an independentworking woman, I like to dothings myself at times andnot depend on externalhelp. I am very glad to beassociated with Bosch

Power Tools, which offersproducts that allow me to fixand create things on myown.I have experienced theease, hassle-free and joy ofusing these products whilemowing a lawn, fixing odditems at home or simplywashing your car.”Adding further she said, “Thejobs might range from drill-ing to intricate creative worksuch as carving and design-ing. ‘DIY Square’ will famil-iarize customers to identifyand get comfortable with the

right kind of products for theright job.”Bosch Power Tools will beopening similar DIYSquares across major met-ropolitan cities in India.The company is expectingto reach out to the 450 mil-lion Indian middle classhouseholds through this ini-tiative.At present, the Indian DIYindustry is at a nascentstage but it is estimated tohave a potential of Rs 500-600 crores in the comingyears. Bosch Power Toolsis a leader in India and hasa wide portfolio of profes-sional and DIY tools and iscurrently enjoying more than30% of the marketshare.preliminary figures,more than 306,000 associ-ates generated sales of 52.3billion euros in 2012.The Bosch Group com-prises Robert Bosch GmbHand its more than 350 sub-sidiaries and regional com-panies in some 60 coun-tries.If its sales and service part-ners are included, thenBosch is represented inroughly 150 countries. Thisworldwide development,manufacturing, and salesnetwork is the foundation forfurther growth.

(L-R) Vijay Pandey, Vice President, Bosch Power Tools India and SAARC and Prachi Desai with the tools at DIY Square..

Oil marketing companies will hike the price of diesel by 45paise per litre (excluding taxes), effective midnight tonight,Indian Oil said on Friday.The hike comes barely a week after the oil companies hadreduced the price of petrol by Rs 2 per litre.This is the third consecutive price hike for diesel in thelast three months.In January this year, the government had allowed the oilfirms to raise the price of diesel by 40-50 paisa every monthuntil the companies have wiped out the losses they incurfrom having to sell diesel at subsidised rates to the public.The oil firms are currently losing around Rs 11 on the sale

Diesel prices raised by 45 paise starting midnightof every litre of diesel.Unlike petrol, prices of diesel, cooking gas (LPG) and kero-sene are not decontrolled, and the government has theultimate control on pricing.The government subsidises the three products and com-pensates the oil firms for selling the fuels at lower prices.In Delhi, diesel price will go up by 51 paisa per litre afterincluding local sales tax or VAT, to Rs 48.67 per litre fromtomorrow as against current rate of Rs 48.16.Diesel will cost Rs 54.83 per litre in Mumbai from tomor-row as against Rs 54.26 currently.(ST-22/03)