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Thursday, January 5, 2012
Bharti AXA Life Save Confident
HDFC Bank Credit Cards for Non-Account Holders
How To Get Secured Personal Loan?
Hospitalization Cover With Health Insurance
Credit Profile And its Effect on Personal Loan Interest Rates in India
Wednesday, January 4, 2012
India Inc's interest paying ability at 5-yr low: Crisil






Crisil's study covered 420 companies, excluding banking and financial institutions and state-owned oil marketing companies.
During the September quarter, interest cost for Indian companies rose 36 percent on year, Crisil said.
At 8.5 percent, the repo rate -- RBI's policy lending rate -- is at its highest since July 2008 after the RBI raised rates 13 times between March 2010 and October 2011, in a tightening cycle that is widely seen to be ending.
"While the interest rate cycle has largely peaked, we believe that interest coverage ratio will remain under pressure over the next few quarters as Corporate India's sales growth could slow down on the heels of lower GDP growth," Crisil said.
The median interest coverage ratio has fallen to 4.8 times in the September quarter against 7.8 times a year ago. The average interest coverage ratio for these companies in the past five years was 8.4 times, it said.
Companies with an interest coverage ratio below 2 times have risen sharply to 117 in the September quarter, from 69 in July-September 2010, it added.
For the first time in the past eight quarters, operating profit and reported profit after tax of these companies declined in the July-September 2011 quarter from a year earlier, Crisil said. The last decline was in July-September 2009 quarter, during the global financial crisis.
Last month, Crisil said Indian companies' profits would decline and margins shrink by 200 basis points in October-December on slower volume growth, higher raw material and interest costs and limited ability to raise prices.
Red Fort Capital to raise $500 mln property fund
The company is in the final stages of fund raising, at a time when global fund raising markets are besieged by economic growth concerns, and will formally announce a "closure soon", said the sources, who declined to be named as they were not authorised to speak to the media.
Subhash Bedi, founding partner at Red Fort, declined to comment.
The private equity fund has made a first close of about $80 million in April last year.
Private equity investments in Indian property sector grew 14.5 percent to $1.26 billion in 2011, compared with $1.1 billion a year ago, data from industry tracker VCCircle.com showed.
Higher interest costs and nearly dried-up public markets forced developers to look out for alternative options for funds last year.
The Sensex shed 24.6 percent in 2011 to be the world's worst-performing major equity market, while 13 interest rate increases since March 2010 by the central bank have pushed up borrowing costs and slowed down economic growth, making investors wary.
The latest property fund is Red Fort Capital's second fund. It has fully invested a $400 million fund earlier, said one of the sources.
Last March, Red Fort Capital said it has returned more than $100 million to investors since 2009. In the first quarter of 2011, the firm exited four investments in residential and office sectors located in New Delhi and Chennai, it said.
Reliance Industries invests in TV18 group
Under the deal, Reliance will put up the money to allow the controlling shareholder of the TV18 group to subscribe to rights issues in the two firms, Network18 Media and Investments and TV18 Broadcast Ltd.
In return, India's biggest listed company will get preferential access to content from TV18 group, which will be distributed through the 4G broadband network it is setting up.
The deal also calls for Reliance to transfer most of its stake in unlisted regional broadcaster ETV and most of its channels to TV18 Broadcast for 21 billion rupees.
Network18 Media and Investments runs business news portal moneycontrol.com, while TV18 Broadcast operates television channels including CNBC-TV18 and CNN-IBN.
Reliance, controlled by Mukesh Ambani, Asia's richest man, did not disclose the size of its investment.
But TV18 said in a separate release that interests associated with group founder Raghav Bahl would contribute 17 billion rupees to the rights issues.
Bahl will retain management and majority control over TV18 and Network 18, the statement said.
A trust set up by Reliance will subscribe to convertible debentures that will be issued by Bahl interests.
CASH RICH
A Reliance spokesman declined to comment on how much of a stake the company would eventually hold in the issuing entities.
"Reliance is cash-rich and has been looking for new businesses to put money in. TV18 group has been bleeding money, so getting in an investor will definitely help them," said K.K. Mital, head of portfolio management services at Globe Capital.
Reliance shares closed 2.6 percent higher in a strong Mumbai market. Network18 Media and TV18 Broadcast each rose by 20 percent, their maximum daily limit.
Reliance has been looking to diversify as growth in its core oil and gas business slows.
The company, which has also invested in retail and financial services, made a dramatic return to the telecoms sector in 2010 by taking control of the only firm that won wireless broadband licences across India, and is now preparing to launch services.
Worries about declining output at its gas fields off India's east coast helped to drag down Reliance's share price by more than 30 percent in 2011, contributing to a near 25 percent fall in India's main stock index.
The deal with TV18 puts Reliance in direct competition with several businesses controlled by Mukesh Ambani's younger brother, Anil, at a time when speculation is rife that the two, who have been bitter rivals, will again do business together.
Anil Ambani controls Reliance Communications Ltd, which operates 3G telecom services, while his Reliance Broadcast Network Ltd and Reliance Mediaworks Ltd operate the group's media and entertainment businesses.
FOCUS ON PROFITABILITY
Network18 and TV18 announced earlier that their boards had approved a rights issue to raise 40 billion rupees, after adjusting for Network 18's holding in TV18.
The deal with Reliance will allow the TV18 group to focus on generating profits for its broadcast business, Bahl told analysts in a conference call.
The acquisition of the ETV channels will also give the group a nationwide platform of regional channels to take on competitors Star TV and Zee TV.
"We don't need to increase our footprint now," Bahl said. "We are clearly out of investment mode as far as broadcast is concerned."
The TV18 group, saddled with mounting debt caused by a slowdown in spending on advertising, is not profitable.
Bahl said the TV18 would provide content to Reliance at "arm's length pricing" on a non-exclusive basis.
"This gives TV18 group a fresh lease of life," said a sector analyst at a foreign brokerage. "This deal also works out for Reliance as it was stuck in the investment in ETV and they could not have monetised it better."
TV18 said it would use the proceeds to repay debt, fund the acquisition of the ETV channels, and for working capital. Network18 said it would use the funds to repay debt and subscribe to the TV18 rights issue.
Saturday, December 17, 2011
Bronchial Asthma
The scale of the problem
Between 100 and 150 million people around the globe -- roughly the equivalent of the population of the Russian Federation -- suffer from asthma and this number is rising. World-wide, deaths from this condition have reached over 180,000 annually.
- Around 8% of the Swiss population suffers from asthma as against only 2% some 25-30 years ago.
- In Germany, there are an estimated 4 million asthmatics.
- In Western Europe as a whole, asthma has doubled in ten years, according to the UCB Institute of Allergy in Belgium.
- In the United States, the number of asthmatics has leapt by over 60% since the early 1980s and deaths have doubled to 5,000 a year.
- There are about 3 million asthmatics in Japan of whom 7% have severe and 30% have moderate asthma.
- In Australia, one child in six under the age of 16 is affected.
Asthma is not just a public health problem for developed countries. In developing countries, however, the incidence of the disease varies greatly.
- India has an estimated 15-20 million asthmatics.
- In the Western Pacific Region of WHO, the incidence varies from over 50% among children in the Caroline Islands to virtually zero in Papua New Guinea.
- In Brazil, Costa Rica, Panama, Peru and Uruguay, prevalence of asthma symptoms in children varies from 20% to 30%.
- In Kenya, it approaches 20%.
- In India, rough estimates indicate a prevalence of between 10% and 15% in 5-11 year old children.
The human and economic burden
Mortality due to asthma is not comparable in size to the day-to-day effects of the disease. Although largely avoidable, asthma tends to occur in epidemics and affects young people. The human and economic burden associated with this condition is severe. The costs of asthma to society could be reduced to a large extent through concerted international and national action.
- World-wide, the economic costs associated with asthma are estimated to exceed those of TB and HIV/AIDS combined.
- In the United States, for example, annual asthma care costs (direct and indirect) exceed US$6 billion.
- At present Britain spends about US$1.8 billion on health care for asthma and because of days lost through illness.
- In Australia, annual direct and indirect medical costs associated with asthma reach almost US$460 million.
What is asthma?
Asthma attacks all age groups but often starts in childhood. It is a disease characterized by recurrent attacks of breathlessness and wheezing, which vary in severity and frequency from person to person. In an individual, they may occur from hour to hour and day to day.
This condition is due to inflammation of the air passages in the lungs and affects the sensitivity of the nerve endings in the airways so they become easily irritated. In an attack, the lining of the passages swell causing the airways to narrow and reducing the flow of air in and out of the lungs.
Causes
Asthma cannot be cured, but could be controlled. The strongest risk factors for developing asthma are exposure, especially in infancy, to indoor allergens (such as domestic mites in bedding, carpets and stuffed furniture, cats and cockroaches) and a family history of asthma or allergy. A study in the South Atlantic Island of Tristan da Cunha, where one in three of the 300 inhabitants has asthma, found children with asthmatic parents were much more likely to develop the condition.
Exposure to tobacco smoke and exposure to chemical irritants in the workplace are additional risk factors. Other risk factors include certain drugs (aspirin and other non-steroid anti-inflammatory drugs), low birth weight and respiratory infection. The weather (cold air), extreme emotional expression and physical exercise can exacerbate asthma.
Urbanization appears to be correlated with an increase in asthma. The nature of the risk is unclear because studies have not taken into account indoor allergens although these have been identified as significant risk factors.
Experts are struggling to understand why rates world-wide are, on average, rising by 50% every decade. And they are baffled by isolated incidents involving hundreds of people in a city, who suffer from allergies such as hay fever but who had never had asthma, suddenly being struck down by asthma attacks so severe they needed emergency hospital treatment.
- One such incident in London, UK, in June 1994 saw 640 people rushed to emergency departments in the throes of full-blown asthma attacks. A similar incident happened in Melbourne, Australia. Many experts have blamed climatic conditions such as thunderstorms, which break up pollen grains, releasing starch granules that trigger attacks. But they do not know why ordinary hay-fever sufferers developed a life-threatening condition without warning.
Treatment
Because asthma is a chronic condition, it usually requires continuous medical care. Patients with moderate to severe asthma have to take long-term medication daily (for example, anti-inflammatory drugs) to control the underlying inflammation and prevent symptoms and attacks. If symptoms occur, short-term medications (inhaled short-acting beta2-agonists) are used to relieve them.
Medication is not the only way to control asthma. It is also important to avoid asthma triggers -- stimuli that irritate and inflame the airways. Each person must learn what triggers he or she should avoid.
Although asthma does not kill on the scale of chronic obstructive pulmonary diseases (COPD), failure to use appropriate drugs or comply with treatment, coupled with an under-recognition of the severity of the problem, can lead to unnecessary deaths, most of which occur outside hospital.
The way forward and the role of the WHO
WHO recognizes asthma as a disease of major public health importance and plays a unique role in the co-ordination of international efforts against the disease. International action is needed to:
- increase public awareness of the disease to make sure patients and health professionals recognize the disease and are aware of the severity of associated problems;
- organize and co-ordinate global epidemiological surveillance to monitor global and regional trends in asthma;
- develop and implement an optimal strategy for its management and prevention (many studies have shown that this will result in the control of asthma in most patients); and
- stimulate research into the causes of asthma to develop new control strategies and treatment techniques.
WHO activities
International Study of Asthma and Allergies in Childhood (ISAAC) : WHO collaborates in ISAAC and, more particularly, in the implementation of the study in developing countries with areas of severe air pollution. A preliminary objective is to obtain information on the association between childhood asthma and air pollution. The first results of this study have shown the prevalence of asthma symptoms to vary from 1.6% to 36.8%.
Global Initiative for Asthma (GINA): In 1992, WHO and the US-based National Heart, Lung and Blood Institute jointly formed GINA to cut deaths and disability by developing and implementing an optimal strategy for asthma management and prevention. Since its inception GINA has:
- produced a report covering a range of information detailing all the latest knowledge on causes, the mechanism of the disease, risk factors, management, education and socio-economic factors;
- developed guidelines on asthma management for doctors, nurses, public health officials, patients and their families;
- held workshops to introduce the GINA programme to public health officials and medical professionals in more than 80 countries, leading to implementation of the guidelines;
- been active in disseminating information in 20 languages and bringing together organizations devoted to improving asthma care;
- backed research efforts to improve asthma management.
GINA's goal is to build an active network with multiple organizations concerned with asthma to ensure better patient care world-wide.
WHO Initiative on Allergic Rhinitis and its Impact on Asthma (ARIA): WHO is developing a strategy for the prevention of bronchial asthma through the management of allergic rhinitis. The strategy was conceived by specialists from all over the world at a December 1999 meeting on ARIA.
Allergic rhinitis is defined as an allergen-induced inflammation of the membranes lining the nose. Based on the time of exposure to the allergen, allergic rhinitis can be subdivided into perennial, seasonal or occupational disease.
Three statements must be taken into account for the successful prevention of bronchial asthma:
- Among the broad spectrum of allergic diseases, bronchial asthma is the most prevalent, dangerous and life-threatening.
- Underestimated up to now, allergic rhinitis is an important risk factor for asthma.
- One efficient way to prevent bronchial asthma is to control and treat allergic rhinitis from the very beginning of its inception.
Generally speaking, ARIA will broaden the perspectives for primary prevention of bronchial asthma and will promote better understanding of bronchial asthma among physicians and patients.
The specific goals of ARIA are defined as follows:
- To increase awareness of allergy and allergic diseases as a preventable public health problem among the medical community, public health officials, and the general public;
- To prepare evidence-based guidelines for the prevention and management of allergic rhinitis as a key element of primary prevention of bronchial asthma;
- To educate physicians and other health care professionals about the relevance of allergic rhinitis to bronchial asthma; and
- To educate the public about the potentially fatal risks of allergy (anaphylaxis) and asthma, especially in children, and to encourage greater dialogue with their physicians. Better education and increased dialogue could avoid approximately 25,000 childhood deaths due to asthma each year
Tuesday, December 13, 2011
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