PM's Opening Statement at Joint Press Interaction
The Prime Minister, Dr. Manmohan Singh addressed the Press in Brussels today. Following is the text of Prime Minister’s opening remarks:
“I am delighted to be here in Brussels to attend the eleventh Summit between India and the European Union, and the first Summit since the entry into force of the Lisbon Treaty.
I would like to thank the leadership of the European Union for the gracious hospitality extended to me and members of my delegation.
India greatly values its relations with the European Union. We see it as a key strategic partner in meeting India’s development needs. We welcome the enhanced role of the European Union on the world stage consequent to the entry into force of the Lisbon Treaty. A strong and prosperous Europe, with whom India shares common values of democracy, pluralism and respect for human rights, is essential for stability and balance in the international order.
Over the years, the partnership between India and the European Union has matured tremendously. Today, it covers the entire gamut of areas ranging from the political and security to education and science. Its significance transcends the purely bilateral.
We have had extremely productive and useful discussions today. These are reflected in the Joint Statement that has been issued. We have also issued a Joint Declaration on Culture and another on International Terrorism. We reviewed the progress that has been made in the implementation of the Joint Action Plan, which is the template of our cooperation. Agreements on cooperation on peaceful uses of nuclear energy, and maritime transport are under negotiation.
Our two sides have done commendable work in negotiations of an India-EU Broad-based Trade and Investment Agreement. We are at the last stages of this complex exercise. We have directed our officials to redouble their efforts to reach a conclusion by the spring of 2011. Finalisation of a balanced Agreement will bring enormous benefits to both sides.
India and Europe should take the lead in avoiding protectionist trends, keeping our markets open and encouraging the free flow and movement of people.
I conveyed to the European leadership the vast opportunities that exist for European investment in India in the areas of infrastructure, high technology, research and development, clean energy and innovation. We are particularly keen to benefit from Europe’s experience in the area of skill development, vocational training and small and medium enterprises.
We discussed opportunities for greater cooperation in the political and security spheres. We have agreed to enhance counter-terrorism cooperation. There is, in addition, scope for working together in combating non-traditional threats to security such as piracy.
Europe has been a locomotive of the world’s economy. India, like the rest of the world, has a vital stake in Europe’s return to robust growth, innovation and the pre-crisis levels of high employment. As a member of the Group of 20, India will consult closely with the European Union and individual member States to ensure a balanced and sustained global economic recovery process.
We exchanged views on the situation in India's neighbourhood and developments in Europe. We were united in our view that the success of the international community’s efforts in Afghanistan was critical for the people of Afghanistan as well as for the stability and security of India and Europe.
We also exchanged views on other global issues like sustainable development, climate change, reform of institutions of global governance including the United Nations Security Council and disarmament and non-proliferation.
I am fully satisfied with my talks today. They give me confidence that we are on the right track. Our partnership with the European Union is poised for further expansion, and we will work with the EU towards world peace, stability and prosperity”.
***
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Saturday, December 11, 2010
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China’s loss could be India’s gain
FROM THE TELEGRAPH
BY SUNANDA K. DATTA RAY
When the Darjeeling road was being laid, an old Tibetan remarked that the blasting could be heard in Lhasa. Similarly, there is little doubt that Wednesday’s mass chanting in Bodh Gaya to mark the start of the year-long celebrations for 900 years of the Karmapa Lama, head of the Karma Kagyu Buddhist sect, could be heard in Beijing. It was a reminder, like the voice of the jailed Nobel Laureate, Liu Xiaobo, that the power of faith does not need the barrel of a gun.Not that any sense of statecraft disturbed the continuous chanting of Myanmarese and Cambodian monks around the sacred Bodhi tree or cast a shadow over the riot of colour under the huge marquee. But the throng of more than 5,000 devotees made clear that no pope ever had as many or as fervently loyal divisions. Young Chinese with cell phones and laptops mingled with striped and skirted Bhutanese. There were Thais in white cotton, modish Taiwanese sporting jeans, Sri Lankans and Vietnamese in different shades of yellow, Japanese and Koreans in severe grey gowns, pilgrims from Hongkong, Singapore and Malaysia, as well as Americans and Europeans in monastic maroon silk designer dresses.
Many wore cloth masks as protection against Bodh Gaya’s dust and dirt. Many clutched bottles of safe drinking water as they picked their way through the slush or bumped in tongas drawn by skinny nags. Discomfort is a small price for the experience of a lifetime. They knew that the ceremony they had come to witness and participate in would not be repeated for 900 years.
But underlying the pageantry lurked the inescapable question: can culture and politics ever be separated in determining identity? It arose unbidden as the infinitely lonely figure of Ogyen Trinley Dorje stood watching a gaily bedecked palanquin bearing away a small metal statue of the first of his line, Dusum Khyenpa, to the timeless wail of “Karmapa Chenno! Karmapa listen to us!” The 17th Karmapa had just launched his antique metallic self on a journey round the world to mark 900 years of the lineage. The celebration will end next December when the image returns to Delhi.
Someone asked at the press conference afterwards in an ornate upstairs room of the Yongey Tergar monastery if the Karmapa would follow Dusum Khyenpa’s statue on its global peregrination. Ever the diplomat (he greeted journalists with folded hands and “Namaste!”), he replied through an interpreter that everything depended on “events and circumstances”. It could have been shorthand for a new variant of the Great Game. A German Buddhist next to me identified the government of India, China, and the Dalai Lama’s administration in Dharamsala as the key players whose interaction determines the Karmapa’s movements. The 26-year-old monk, whose own interests are confined to his flock’s spiritual welfare, is unconcerned about strategic calculations. But he cannot escape the Great Game’s consequences.
If the Karmapa cut a lonely figure, the crowd around him confirmed the far-reaching impact of his person and position at a time when Wen Jiabao’s impending visit and the controversy over the ceremony to honour Liu underline the delicate balance of Sino-Indian relations. Tibet remains central to that equation. The Karmapa’s address during Wednesday’s ceremony mentioned Tibet’s historic connection with India. Asked if it would extend into the future, he expatiated on the student-teacher relationship between the two countries, India’s enormous contribution to Tibet’s culture, religion and lifestyle, and on the warmth and kindness with which India’s people and government had received Tibetan refugees. Deeply grateful for these gifts, Tibetans are trying to hold on to what they have received from India and give something back in return. “We hope to preserve and continue the relationship in a very live way” may have suggested more than continuing the ancient guru-shishya bond to which the Dalai Lama also pays tribute.
The Dalai Lama had repeatedly reminded Beijing that Tibet’s culture, religion and way of life face “great danger”. While fully concurring with the pontiff’s representations, the Karmapa wondered if ordinary Chinese people were aware of the damage being done to Tibet. But he claimed no insight into official Chinese thinking. He had earlier told me it was “funny” for communist leaders who didn’t believe in god to recognize an incarnation. But having done so, they could not derecognize him. They were saddled with a Karmapa whom they acknowledged but who had rejected them.
That anomaly and China’s humiliating dilemma over a lost asset account for the fantasies conjured up to explain the enigma. Suspecting that the Karmapa still enjoys China’s secret support, some wonder if he could have escaped without at least tacit Chinese connivance. Others believe the American Central Intelligence Agency planned the exercise with or without Beijing’s acquiescence, thereby feeding India’s dormant but never extinguished paranoia about the Foreign Hand. Such comments could also apply to the Dalai Lama and his flight in 1959 but speculation is seldom logical, and it’s also whispered that unwillingness to offend Beijing too much obliges New Delhi to continue to treat the Karmapa more like a State prisoner than a State guest. The government’s silence on the subject only encourages wild theories.
Tibet’s exiled prime minister, Samdhong Rinpoche, who sat next to the Karmapa on the stage, recently threw some light on Chinese motives. Claiming that “in the absence of the Dalai Lama and the Panchen Lama, China wants to make use of him (the Karmapa) for their own purposes”, he explained that “with the rumoured retirement of the Dalai Lama, the Karmapa will take on additional responsibilities” even if Dharamsala continues to “take care of administrative governance”. That forces the administration in exile — the third player in this Great Game — to do some hard thinking. The Karmapa hasn’t been disappointed in linking his post-China existence to the Dalai Lama’s. But the rumours that Samdhong Rinpoche mentioned could indicate a more independent future role. Ogyen Trinley Dorje denies temporal ambition, saying his spiritual responsibilities are heavy enough for one person. But he also realistically recognizes the material component of spiritual well-being and has just given Bodh Gaya a high-tech filter that supplies 500 litres of potable water per hour. Welfare is indivisible.
The “events and circumstances” he mentions may not leave him much choice as modern young Tibetans like Tenzing Norbu who webcast Wednesday’s proceedings in many languages (even Polish) and Lobsang Wangyal whose Miss Tibet contest will celebrate its 10th anniversary next year are drawn to the Karmapa’s vision of peace and harmony beyond doctrinal definition.
Behind him, the stage rose in a pyramid of yellow cloaks on maroon robes (unlike the rows of maroon cloaks on yellow robes squatting on mats) to a large golden Buddha. I thought the cross-legged figure in a black hat immediately below was a senior monk in deep meditation but, no, it was an image of Dusum Khyenpa from Bangkok. The four yellow-draped sentries around it were human though they, too, might have been waxworks in their stillness. There was no immobility, however, about the lithe young men in brocades and conical hats brandishing dummy swords or the pretty girls in flowing silk waving long shimmering sleeves. Or R.S. Nandkumar’s musicians singing in praise of the Buddha in Sanskrit after Tilopa, the sect’s 10th- century founder who coined the aphorism, “The problem is not enjoyment; the problem is attachment.”
No Indian crowd is ever so disciplined; no choreography so impeccably orchestrated. His Holiness had personally ensured that the ceremonial umbrellas with appliqué designs were of exactly the same height, that the timing, movement and steps of the dancers were perfectly matched. He would have made a superb stage manager if millions of Buddhists had not looked to him to manage their destiny. China’s loss could be India’s gain if education and exposure hone his natural leadership qualities for that task.
Friday, December 10, 2010
Chinese Premier to bring large trade delegation
AP Chinese Premier Wen Jiabao. File photo
Premier Wen Jiabao will be accompanied by the biggest ever Chinese trade delegation to India when he touches down in New Delhi next Wednesday on a three-day visit, during which the two countries’ fast-growing but increasingly imbalanced trade relationship will be in focus.
As of Wednesday, more than 250 representatives from 100 Chinese companies, in sectors ranging from manufacturing and banking to Information Technology, had confirmed their participation in next week’s visit.
A provisional list featured some of China’s most well-known State-run firms, from banking behemoths Bank of China and the Industrial and Commercial Bank of China to Sinosteel, one of the world’s biggest importers of iron ore, which is India’s biggest export to China.
The list featured some surprising new entrants, most notably in the real estate and construction sector. More than 20 of China’s biggest real estate players will be represented, such as the Shanghai Urban Construction Group.
The power sector is also heavily represented, including Shanghai Electric, which recently inked a record $ 8.3 billion deal with Reliance Power to supply 36 coal-fired power generation units. The power sector is one area where Chinese companies have had considerable success in India, estimated as supplying power equipment to one in every four power plants currently coming up in India. Another is the supply of telecom equipment. Representatives from giants Huawei and ZTE will accompany Mr. Wen next week.
Amid persisting political uncertainties in the bilateral relationship, trade has emerged as a key issue in the forthcoming visit. Officials have said Mr. Wen’s trip will be a “landmark” visit for bilateral ties, though breakthroughs are unlikely in any of major political issues the two countries are grappling with, such as the long-running boundary talks, China’s issuing of stapled visas or United Nations Security Council reforms.
Even in the trade relationship, a widening trade imbalance, in China’s favour, has increasingly concerned Indian officials. While bilateral trade has seen rapid growth, with the two countries on track to meet a $ 60 billion target this year and China set to again become India's largest trade partner, the trade deficit grew to a record $ 16 billion. As of October, bilateral trade stood at $ 50 billion, with Indian exports, mainly made up of iron ore and raw materials, making up $ 17 billion.
But Indian officials say the overall growth in trade still remains a source of optimism amid other uncertainties. On Mr. Wen’s last visit to India, in 2005, two-way trade was less than $ 20 billion.
source; the hindu
Facebook’s Zuckerberg to give most of his wealth away
by Dominic Rushe
In an initiative begun by Microsoft co-founder Bill Gates, a total of 57 of the world’s wealthiest people have now pledged to give at least 50% of their wealth to charity
Facebook founder Mark Zuckerberg has joined the band of billionaires who have pledged to give the majority of their wealth to charity.
Mr. Zuckerberg on Wednesday announced he had signed up for the Giving Pledge, an initiative set up by Microsoft co-founder Bill Gates that asks signatories to commit to donating the majority of their wealth.
The 26-year-old is one of 17 billionaires newly signed up to the pledge. According to Forbes magazine, Mr. Zuckerberg’s fortune is worth $6.9bn. He was joined in the latest round of 16 other pledgers including AOL co-founder Stephen Case, corporate raider Carl Icahn and former junk-bond king Michael Milken.
Mr. Gates started the drive last year, backed by Warren Buffett, the Berkshire Hathaway investor. He set up a series of dinners to try to persuade the world’s wealthiest to give their fortunes to charity. New York mayor Michael Bloomberg, Oracle founder Larry Ellison, Star Wars director George Lucas and CNN media mogul Ted Turner were among early converts. A total of 57 of the world’s wealthiest people have now pledged to give at least 50% of their wealth to charity.
“People wait until late in their career to give back. But why wait when there is so much to be done?” said Mr. Zuckerberg. “With a generation of younger folks who have thrived on the success of their companies, there is a big opportunity for many of us to give back earlier in our lifetime and see the impact of our philanthropic efforts.” The money collected under the Giving Pledge is not pooled or targeted at a specific cause. It is considered a “moral commitment” and is not a legal contract.
Philanthropy experts welcomed the move in principle but expressed concern about the lack of details. “It’s really important that we look at not just who is giving but who is benefiting,” said Aaron Dorfman, executive director of the National Committee for Responsive Philanthropy in Washington. “In general, wealthy donors do not give in ways that benefit under-served communities.”
Mr. Dorfman said the Giving Pledge was “vague” and lacked accountability. He said in general wealthy donors gave their money to the places they patronise, including arts centres and their alma maters. “Our survey found only $1 in [every] $3 actually went to the under—served, even when you define that group very broadly.” But Peter Singer, professor of bioethics at Princeton University, said: “Research shows that when people know that others are giving, they are themselves more likely to give. So publicly pledging to give will encourage others to give.”
source; Guardian News & Media 2010
by Dominic Rushe
In an initiative begun by Microsoft co-founder Bill Gates, a total of 57 of the world’s wealthiest people have now pledged to give at least 50% of their wealth to charity
Facebook founder Mark Zuckerberg has joined the band of billionaires who have pledged to give the majority of their wealth to charity.
Mr. Zuckerberg on Wednesday announced he had signed up for the Giving Pledge, an initiative set up by Microsoft co-founder Bill Gates that asks signatories to commit to donating the majority of their wealth.
The 26-year-old is one of 17 billionaires newly signed up to the pledge. According to Forbes magazine, Mr. Zuckerberg’s fortune is worth $6.9bn. He was joined in the latest round of 16 other pledgers including AOL co-founder Stephen Case, corporate raider Carl Icahn and former junk-bond king Michael Milken.
Mr. Gates started the drive last year, backed by Warren Buffett, the Berkshire Hathaway investor. He set up a series of dinners to try to persuade the world’s wealthiest to give their fortunes to charity. New York mayor Michael Bloomberg, Oracle founder Larry Ellison, Star Wars director George Lucas and CNN media mogul Ted Turner were among early converts. A total of 57 of the world’s wealthiest people have now pledged to give at least 50% of their wealth to charity.
“People wait until late in their career to give back. But why wait when there is so much to be done?” said Mr. Zuckerberg. “With a generation of younger folks who have thrived on the success of their companies, there is a big opportunity for many of us to give back earlier in our lifetime and see the impact of our philanthropic efforts.” The money collected under the Giving Pledge is not pooled or targeted at a specific cause. It is considered a “moral commitment” and is not a legal contract.
Philanthropy experts welcomed the move in principle but expressed concern about the lack of details. “It’s really important that we look at not just who is giving but who is benefiting,” said Aaron Dorfman, executive director of the National Committee for Responsive Philanthropy in Washington. “In general, wealthy donors do not give in ways that benefit under-served communities.”
Mr. Dorfman said the Giving Pledge was “vague” and lacked accountability. He said in general wealthy donors gave their money to the places they patronise, including arts centres and their alma maters. “Our survey found only $1 in [every] $3 actually went to the under—served, even when you define that group very broadly.” But Peter Singer, professor of bioethics at Princeton University, said: “Research shows that when people know that others are giving, they are themselves more likely to give. So publicly pledging to give will encourage others to give.”
source; Guardian News & Media 2010
FINANCIAL PLANNING - Seven money housekeeping mustdos
Financial planning is not just about choosing the right investment avenues, correct products and bal- anced portfolio allocation of your investments. Getting the planning and investing process right so that systems fall in place and the money works for you even when you cannot manage it yourself is crucial for both you and your dependants especially if you are not savvy about money and finances. “No doubt what you invest in is im- portant as it will determine your returns, but the way you go about it is also crucial as you should have access to your funds when you need it,“ says Gaurav Mashruwala, a Mum- bai-based financial planner.
Here are some of the basic needs to be kept in mind.
Keep it simple: While some may be savvy about money and money management, others might find it difficult to give meaning to numbers and still others may just not have the time for it. The solution to this lies in keeping the investments as simple as you can if you be- lieve you are one of those who feel inadequate to deal with fi- nancial complications. For in- stance, while some products such as gold and systematic in- vestment plans in mutual funds are easy to manage, asset classes such as real estate are complicated. Mashruwala adds, “Buying a house to live in is important, but as an invest- ment avenue, besides being complicated real estate is also not liquid enough.“ Leasing out a residential or commercial property will earn you an addi- tional income, but you have to go through various processes such as looking for a tenant, making the agreement and get- ting all the required documen- tation in place and most im- portantly collecting the rent.
Apart from opting for the right investment avenues, it is also advisable to maintain a consolidated record of all your investments and track them regularly. If you think you can't manage your finances, opt for services of your bank's wealth manager, or an individual pro- fessional practitioner to ensure that your financial life is se- cured.
Maintain a logbook: Main- tain a logbook with details of all your investments, contact numbers, list of documents, agent numbers, identity cards, bank accounts, bank lockers and anything else that is impor- tant. “Ensure that at least two- three others are aware of the mediclaim policies you hold, policy numbers and papers, helpline and agent numbers so that they will know how to file a claim in case of an emergency,“ says Mashruwala. These could be your family members such as spouse or parents or even children if they are grown up and matured enough, close friends or neighbours.
Nominations: It is extremely important to have nominations in place for all your invest- ments. Although the nominee is not the legal beneficiary but just a guardian or a trustee till the rightful heir or beneficiary is determined, having a nomi- nation in place will ensure that the funds are released quickly in case of any casualty. Inves- tors are often careless about nominations. Says Ranjit Dani, a Nagpur-based financial plan- ner, “People usually don't have nominations in place for bank accounts. If it is jointly held then the nomination is not very important, but if not then it is.
Similarly insurance policies have nominations in place. But if the policy had been assigned as a security, the earlier nomi- nation is not valid. People of- ten forget to get a new nominee in place.“
A nomination is also a better option compared with a joint ownership or holding if you prefer to maintain your financ- es separately from your spouse or if you are single. While it is easier to change a nominee, in case of joint holding it is diffi- cult to change the co-holder and in some cases not possible at all. So you would then have to close the account or invest- ment and open a new one as a joint holder cannot be changed and will enjoy equal access and rights to your assets.
For instance, if you open a joint bank account with your mother instead of making her a nominee, she will have as much right as you to withdraw money from the account. Be- sides, after you get married, you might prefer to have your spouse as a co-holder or appli- cant rather than your mother.
So if your mother was just a nominee, you could easily file a new nomination, but if she is a co-holder, you might have to close the account and open a new one.
Power of attorney: Most in- vestors worry about assigning a power of attorney to someone else as they fear that it can be misused. However, a power of attorney would be important if someone needs to administer your assets or accounts on your behalf. So you might have to consider this only if you are a non-resident Indian (NRI) or are single, you or someone in the family has a major illness or if your job is migratory.
You can assign a general or a special power of attorney.
While a general power of attor- ney would allow the person to fill in for you anywhere and take a decision beneficial to you, a special power of attor- ney would mean allowing ac- cess to the person to a single bank account to withdraw money for your medical ex- penses in case of an accident or allow him rights to manage a certain property only. This power of attorney can come into effect from the moment the document is signed, or at a predetermined future date or in case of the occurrence of a specified event. You can also revoke the power of attorney granted to a person and entrust it to someone else by following the prescribed legal procedure.
Track it regularly: Track your portfolio regularly. Says Dipika Kalra, associate finan- cial planner, International Money Matters Pvt. Ltd, a financial planning-cum-invest- ment advisory firm, “Track your investments regularly, and ensure that you have a consolidated statement of all your investments every month- end. That way you will know where you stand.“ So every month end, Kalra sends her cli- ents a consolidated statement of all her investments includ- ing those such as equity that are not handled by her. It is very important to go through all your statements periodically so that any inconsistent ex- pense or charge will most likely stand out and you will also have a fair idea of what the state of your finances is.
Regular reviews: Even if you track you portfolio regularly, it is good to review and realign it at regular intervals. Says Dani, “Your portfolio is like a garden, it has to be cleared of weeds.
You might buy certain prod- ucts or make investments an- ticipating specific needs or sit- uations. If those don't arise, then you might want to reallo- cate that investment.“ Similarly your needs and goals will change with age and these will have to be weaved in your in- vestments.
Succession plan: And last but not the least, plan your succession. As you go along, you are bound to accumulate assets which need to be taken care of after you are gone. You might want to pass it on to a friend or a relative or donate it to somebody, but it has to be passed on to someone. A will and a succession plan is thus as essential as asset allocation or portfolio management. “You don't want to leave bad blood in the family while your rela- tives sweat it out in the court- rooms,“ adds Kalra. Besides, it is also very important that someone is aware of the pro- cess of liquidation of your as- sets and can execute it as per your wishes.
EMAIL
harshada.k@livemint.com
source;livemint
Financial planning is not just about choosing the right investment avenues, correct products and bal- anced portfolio allocation of your investments. Getting the planning and investing process right so that systems fall in place and the money works for you even when you cannot manage it yourself is crucial for both you and your dependants especially if you are not savvy about money and finances. “No doubt what you invest in is im- portant as it will determine your returns, but the way you go about it is also crucial as you should have access to your funds when you need it,“ says Gaurav Mashruwala, a Mum- bai-based financial planner.
Here are some of the basic needs to be kept in mind.
Keep it simple: While some may be savvy about money and money management, others might find it difficult to give meaning to numbers and still others may just not have the time for it. The solution to this lies in keeping the investments as simple as you can if you be- lieve you are one of those who feel inadequate to deal with fi- nancial complications. For in- stance, while some products such as gold and systematic in- vestment plans in mutual funds are easy to manage, asset classes such as real estate are complicated. Mashruwala adds, “Buying a house to live in is important, but as an invest- ment avenue, besides being complicated real estate is also not liquid enough.“ Leasing out a residential or commercial property will earn you an addi- tional income, but you have to go through various processes such as looking for a tenant, making the agreement and get- ting all the required documen- tation in place and most im- portantly collecting the rent.
Apart from opting for the right investment avenues, it is also advisable to maintain a consolidated record of all your investments and track them regularly. If you think you can't manage your finances, opt for services of your bank's wealth manager, or an individual pro- fessional practitioner to ensure that your financial life is se- cured.
Maintain a logbook: Main- tain a logbook with details of all your investments, contact numbers, list of documents, agent numbers, identity cards, bank accounts, bank lockers and anything else that is impor- tant. “Ensure that at least two- three others are aware of the mediclaim policies you hold, policy numbers and papers, helpline and agent numbers so that they will know how to file a claim in case of an emergency,“ says Mashruwala. These could be your family members such as spouse or parents or even children if they are grown up and matured enough, close friends or neighbours.
Nominations: It is extremely important to have nominations in place for all your invest- ments. Although the nominee is not the legal beneficiary but just a guardian or a trustee till the rightful heir or beneficiary is determined, having a nomi- nation in place will ensure that the funds are released quickly in case of any casualty. Inves- tors are often careless about nominations. Says Ranjit Dani, a Nagpur-based financial plan- ner, “People usually don't have nominations in place for bank accounts. If it is jointly held then the nomination is not very important, but if not then it is.
Similarly insurance policies have nominations in place. But if the policy had been assigned as a security, the earlier nomi- nation is not valid. People of- ten forget to get a new nominee in place.“
A nomination is also a better option compared with a joint ownership or holding if you prefer to maintain your financ- es separately from your spouse or if you are single. While it is easier to change a nominee, in case of joint holding it is diffi- cult to change the co-holder and in some cases not possible at all. So you would then have to close the account or invest- ment and open a new one as a joint holder cannot be changed and will enjoy equal access and rights to your assets.
For instance, if you open a joint bank account with your mother instead of making her a nominee, she will have as much right as you to withdraw money from the account. Be- sides, after you get married, you might prefer to have your spouse as a co-holder or appli- cant rather than your mother.
So if your mother was just a nominee, you could easily file a new nomination, but if she is a co-holder, you might have to close the account and open a new one.
Power of attorney: Most in- vestors worry about assigning a power of attorney to someone else as they fear that it can be misused. However, a power of attorney would be important if someone needs to administer your assets or accounts on your behalf. So you might have to consider this only if you are a non-resident Indian (NRI) or are single, you or someone in the family has a major illness or if your job is migratory.
You can assign a general or a special power of attorney.
While a general power of attor- ney would allow the person to fill in for you anywhere and take a decision beneficial to you, a special power of attor- ney would mean allowing ac- cess to the person to a single bank account to withdraw money for your medical ex- penses in case of an accident or allow him rights to manage a certain property only. This power of attorney can come into effect from the moment the document is signed, or at a predetermined future date or in case of the occurrence of a specified event. You can also revoke the power of attorney granted to a person and entrust it to someone else by following the prescribed legal procedure.
Track it regularly: Track your portfolio regularly. Says Dipika Kalra, associate finan- cial planner, International Money Matters Pvt. Ltd, a financial planning-cum-invest- ment advisory firm, “Track your investments regularly, and ensure that you have a consolidated statement of all your investments every month- end. That way you will know where you stand.“ So every month end, Kalra sends her cli- ents a consolidated statement of all her investments includ- ing those such as equity that are not handled by her. It is very important to go through all your statements periodically so that any inconsistent ex- pense or charge will most likely stand out and you will also have a fair idea of what the state of your finances is.
Regular reviews: Even if you track you portfolio regularly, it is good to review and realign it at regular intervals. Says Dani, “Your portfolio is like a garden, it has to be cleared of weeds.
You might buy certain prod- ucts or make investments an- ticipating specific needs or sit- uations. If those don't arise, then you might want to reallo- cate that investment.“ Similarly your needs and goals will change with age and these will have to be weaved in your in- vestments.
Succession plan: And last but not the least, plan your succession. As you go along, you are bound to accumulate assets which need to be taken care of after you are gone. You might want to pass it on to a friend or a relative or donate it to somebody, but it has to be passed on to someone. A will and a succession plan is thus as essential as asset allocation or portfolio management. “You don't want to leave bad blood in the family while your rela- tives sweat it out in the court- rooms,“ adds Kalra. Besides, it is also very important that someone is aware of the pro- cess of liquidation of your as- sets and can execute it as per your wishes.
harshada.k@livemint.com
source;livemint
Thursday, December 9, 2010
SIKKIM: Sikkim tour dreams ride on rail plan – Hope for pilgrims & trekkers: four stations in hill state
FROM THE TELEGRAPH
BY BIJOY GURUNG
The statue of Guru Padmasambhava at Namchi. More tourists are expected to visit the spot when the proposed rail link between Mirik and Gangtok becomes a reality. Picture by Prabin Khaling
Gangtok, Dec. 8: An ambitious plan to link tourist destinations in Darjeeling district and Sikkim through train service has been drawn up by the Northeast Frontier Railway.
The 163km-long broad gauge track linking Mirik and Gangtok will pass through the hills and valleys of the eastern Himalayas. The report was submitted to the Sikkim government last month.
Apart from Gangtok, which is a popular destination for visitors from all over the world, the NFR has proposed three more stations in Sikkim. They are Namchi in South Sikkim, Daramdin in West district and Ranipul near the state capital.
Namchi is the headquarters of South Sikkim and boasts the massive statue of Guru Padmasambhava, the patron saint of the state. The government is also working on the Char Dham project in Namchi, where the replicas of four famous Hindu temples are being built.
Tourism stakeholders pointed out that Daramdin was also an important choice for the travellers as it is the gateway to the popular trekking trails of Singalila and Barsey.
Lukendra Rasaily, the president of the Travel Agents’ Association of Sikkim, said the rail project was of paramount importance as far as the development of tourism — the primary industry of Sikkim — was concerned.
“This is a very important project from the point of view of tourism. This will develop regional tourism in a big way as tourism in Sikkim and Darjeeling cannot be separated. We will have a bigger reason to promote tourism,” he said.
The project will also boost the pilgrimage tourism of Namchi, said Rasaily. “The pilgrimage tourism potential of Namchi in South Sikkim will be fully complemented by the rail project. The project will develop tourism potential of Daramdin and nearby areas of West Sikkim. Basically, it will be a nice ride across the hills from Mirik to Gangtok through Daramdin and Namchi,” said the TAAS president.
Railway minister Mamata Banerjee announced the project in 2009 and the NFR took up the survey in September the same year.
The survey has estimated that Rs 11,684 crore will be needed to lay tracks in the hills and valleys. The railways have said because of the topography of the area through which the tracks will pass, 26 tunnels will have to be constructed with the longest one being 12.25km. The total length of the tunnels will be 84km, more than half of the route.
The project also envisages the construction of 124 bridges, the largest one spanning 625 metres. According to the report, 58km of the tracks will fall in Bengal and the rest in West, South and East districts of Sikkim.
“Highly sophisticated technology for the design and construction is required for the project and prior to finalisation, there is a need for meticulous investigation and geographical mapping along the proposed alignment,” reads the report.
The state transport department has started reviewing the report. “We are studying the report. The review will be completed by the end of this month and we will send our observation to the NFR headquarters in Malegaon, Assam,” said Uttam Pradhan, the chief engineer of the state transport department.
Work has already begun last year on the 52km rail between Sevoke in Darjeeling district and Rangpo, the gateway to Sikkim.
The foundation stone for this project was laid by Vice-President, M. Hamid Ansari, on October 30, 2009. The project is estimated to cost the railways Rs 1,339 crore.
SIKKIM: HH Dalai Lama likely to visit Sakyamuni project
December 9th, 2010
Gangtok: Construction work of the Sakyamuni project has progressed 90% and it will be finally completed by April 2011 at a total cost Rs.34.6 crores sanctioned by State Government, Mr. C. Zangpo Chief Engineer of Urban Development and Housing Department cum Technical Chief of Sakyamuni Project Committee told reporters Friday.
He said the Sakyamuni project in Rabong covers an area of 22.4 acres with its own eco-garden, tourist amenities along with a Buddha statue, the tallest in India.
The statue of Lord Buddha is being designed in a sitting position at a height of 95 feet. The total height of the statue will reach up to 130 feet after adding the base and throne making the statue on of the tallest Buddha statues in the world.
The project has already received international attention much in advance with thirteen relics of Lord Buddha from 13 different countries being handed over to the project committe.
The relics were handed over for the Sakyamuni project at the new Karma Thekchenling monastery at the Mane Chokerling complex at Rabong by a team of Thai monks led by venerable Jamnian Chonsakhorn Seelasettho, the chief of priests of the Thai monastery, Mr. Zangpo informed.
During his Sikkim visit in the middle of this month, HH Dalai Lama is likely to visit the place and stay one night at Rabong lodge, project area, it is informed.
It is further informed that during his visit the Tibetan spiritual leader may announce the date of inauguration of the project. After completion of the project, people will know it as ‘Tathagatha Preserve’ instead of Sakyamuni Project because His Holiness Dalai Lama has been changed the name of the project, Mr. Zangpo said. He said that around 7 kg gold being used in the statue, it will be seen as a golden one. Accommodation, worship facilities will be available in the area. Chief Minister Dr. Pawan Chamling is chairman of the Sakyamuni Project, Mr. DD Bhutia,Vice chairman, and Mr. TT Dorjee, Chief Secretary, President.
[FROM SIKKIM REPORTER / EDITED BY ASHOK CHATTERJEE]
HH Dalai Lama to Open Science and Spirituality Cofference in Sikkim
Wednesday, 08 December 2010 12:50 YC. Dhardhowa, The Tibet Post International
Dharamshala: Tibetan spiritual leader His Holiness the Dalai Lama will visit four areas of North- eastern states of India, Sikkim and West Bengal, December 12-24, 2010, at which time His Holiness will offer lectures on world peace, teachings of Buddhism, confer empowerment, participate in a conference on Brain and Mind, and take part in long life prayer offering ceremonies. His Holiness will also give the inaugural address at the conference on science and spiritualism to host by the Namgyal Institute of Tibetology, Sikkim.
The Brain and Mind conference is expected to lay the foundations of Sikkim's efforts to formally introduce moral and ethical subjects in the school curriculum, said a media release by Pema Wangchuk Dorjee, the NIT's media consultant for the seminar.
"The inauguration of the conference by His Holiness is apt because he has always evinced a keen interest in science, and drawing from his advanced understanding of theosophical matters, often commented that science and spiritualism are not contradictory to each other and could in fact collaborate to explain things more completely. His Holiness is a leading proponent of Mind and Life Sciences and has consistently reiterated that complete education requires a sound rooting of students in spiritualism and the concepts of morality and ethics," the release said.
Chief minister Pawan Chamling has thanked His Holiness the Dalai Lama for accepting the government's invitation to visit Sikkim. In his letter, Chamling has conveyed that the government intends to follow up the conference proceedings by introducing moral ethics as a subject in Sikkim's schools and colleges.
On December 13, His Holiness will give a teaching on The Three Principal Paths (lamtso namsum) and confer a long life empowerment (tsewang) at Tharpa Choeling Monastery in Kalimpong, WB, India. On December 19, His Holiness will bless the Buddha Statue being built by the Sikkim State Government in Ravangla, Sikkim, India.
His Holiness will give two-day teachings from on December 21-22 in Gangtok, Sikkim, on the morning of December 21 he will teach on Nagarjuna's Commentary on Bodhicitta (jangchup semdrel) & Quintessential Collection of the Mind Sadhanas from the 5th Dalai Lama's Secret Teachings (thukdrup yangnying kundu). On the morning of December 22 he will confer a long life empowerment (tsewang) and be offered a long life ceremony.
On December 24, His Holiness will give teachings on Gyalsey Thokme Sangpo's 37 Practices of A Bodhisattva (laklen sodunma) and confer an Avalokiteshvera Initiation (chenresig wang) in the morning at Sed-Gyued Monastery in Salugara, WB, India.
The conference on Brain and Mind, Our Potential for Change: Modern Cognitive Sciences and Eastern Contemplative Traditions will be hosted by the Namgyal Institute of Tibetology (NIT) from December 20 to 23.
The Tibetan spiritual leader had last visited Sikkim in 2004 and had toured the state for a week, conducting prayer ceremonies and meetings.
Wednesday, 08 December 2010 12:50 YC. Dhardhowa, The Tibet Post International
Dharamshala: Tibetan spiritual leader His Holiness the Dalai Lama will visit four areas of North- eastern states of India, Sikkim and West Bengal, December 12-24, 2010, at which time His Holiness will offer lectures on world peace, teachings of Buddhism, confer empowerment, participate in a conference on Brain and Mind, and take part in long life prayer offering ceremonies. His Holiness will also give the inaugural address at the conference on science and spiritualism to host by the Namgyal Institute of Tibetology, Sikkim.
The Brain and Mind conference is expected to lay the foundations of Sikkim's efforts to formally introduce moral and ethical subjects in the school curriculum, said a media release by Pema Wangchuk Dorjee, the NIT's media consultant for the seminar.
"The inauguration of the conference by His Holiness is apt because he has always evinced a keen interest in science, and drawing from his advanced understanding of theosophical matters, often commented that science and spiritualism are not contradictory to each other and could in fact collaborate to explain things more completely. His Holiness is a leading proponent of Mind and Life Sciences and has consistently reiterated that complete education requires a sound rooting of students in spiritualism and the concepts of morality and ethics," the release said.
Chief minister Pawan Chamling has thanked His Holiness the Dalai Lama for accepting the government's invitation to visit Sikkim. In his letter, Chamling has conveyed that the government intends to follow up the conference proceedings by introducing moral ethics as a subject in Sikkim's schools and colleges.
On December 13, His Holiness will give a teaching on The Three Principal Paths (lamtso namsum) and confer a long life empowerment (tsewang) at Tharpa Choeling Monastery in Kalimpong, WB, India. On December 19, His Holiness will bless the Buddha Statue being built by the Sikkim State Government in Ravangla, Sikkim, India.
His Holiness will give two-day teachings from on December 21-22 in Gangtok, Sikkim, on the morning of December 21 he will teach on Nagarjuna's Commentary on Bodhicitta (jangchup semdrel) & Quintessential Collection of the Mind Sadhanas from the 5th Dalai Lama's Secret Teachings (thukdrup yangnying kundu). On the morning of December 22 he will confer a long life empowerment (tsewang) and be offered a long life ceremony.
On December 24, His Holiness will give teachings on Gyalsey Thokme Sangpo's 37 Practices of A Bodhisattva (laklen sodunma) and confer an Avalokiteshvera Initiation (chenresig wang) in the morning at Sed-Gyued Monastery in Salugara, WB, India.
The conference on Brain and Mind, Our Potential for Change: Modern Cognitive Sciences and Eastern Contemplative Traditions will be hosted by the Namgyal Institute of Tibetology (NIT) from December 20 to 23.
The Tibetan spiritual leader had last visited Sikkim in 2004 and had toured the state for a week, conducting prayer ceremonies and meetings.
Wednesday, December 8, 2010
New Delhi: When Bharti Walmart Pvt. Ltd opened its wholesale store near Chandigarh earlier this year, it found in a customer survey that demand existed for a ghee (clarified butter) brand that had been non-existent in most markets for several years.
The retailer then approached GlaxoSmithKline Consumer Healthcare Ltd (GSKCH), the maker of Gopikaghee, and made a pitch for reviving the brand.
“We told them the opportunity is win-win for both of us,” said Arvind Mediratta, business head for cash-and-carry at Bharti Walmart, a 50:50 joint venture between Wal-Mart Stores Inc., the world’s largest retailer, and New Delhi-based Bharti Enterprises Ltd. “They didn’t have the distribution focus on that brand and we thought we could distribute it in our trade areas. So we entered into an exclusive distribution tie-up.”
Today, Gopika outsells market leader Verkaghee in that cash-and-carry store in Zirakpur, Punjab, and GSKCH is happy to see a big increase in its sales, said Mediratta.
Retailers in India are not only busy building their private label portfolios, they are also looking at opportunities to revive old brands that still enjoy some recall among consumers or are looking at relaunching brands that have lost their sheen over the years.
Bharti Walmart is also handling the distribution of another GSKCH brand—the chocolate-flavoured health drink Maltova. Since acquiring Maltova from Jagatjit Industries in 2000, GSKCH has re-launched the brand twice—in 2002 and in 2004.
The brand had, however, “lost momentum”, according to Mediratta.
He said Maltova is now selling very well in Bharti Walmart’s three stores in Punjab, the target market of the beverage.
GSKCH, through its public relations agency Genesis Burson-Marsteller, declined to comment for this story. Emails sent to Shubhajit Sen, the company’s executive vice-president for marketing, on 30 November went unanswered.
There have been other successful brand revivals. In 2006, the Future Group acquired a mothballed jeans brand, Buffalo, from a family-owned company because the retailer found the brand still retained some “residual memory” among consumers. The company relaunched the jeans brand and spent crores of rupees in marketing it.
“We are extremely happy with it, and today it’s one of the fastest growing among our brands,” said Santosh Desai, managing director of Future Brands Ltd, the unit that is developing private brands for the country’s largest retail group.
Kishore Biyani, chief executive officer of Future Group, said his organization is currently in talks to acquire “many” such defunct brands in the home and personal consumer goods segments, declining to name any.
“Instead of building a new brand, why can’t we take a defunct brand and build it up so the primary work is always done,” he said. “It brings brand salience.”
Brand salience is the degree to which a brand is recalled by a consumer who is about to make a purchase.
Biyani said the company is also on the lookout for small-time brands that can be scaled up.
Jealous, a small jeans brand acquired five years ago, was a small Rs.1 crore business. “Now it’s nearly a Rs.40 crore brand for us,” he said.
According to Abhishek Malhotra, a partner at consulting firm Booz and Co., reviving existing brands comes with its own sets of advantages such as a ready infrastructure and brand equity.
“For modern trade, there are two choices. Either they can create their own brands or there is benefit of going with an existing brand that has all the infrastructure and try to reinvigorate that,” he said.
An organized retailer can help a great deal in reviving a brand, Malhotra said, and added, “A Wal-Mart or an Aditya Birla (retail) can offer significant upside and bring it back into the brand curving.”
Encouraged by its experience, such as with Gopika, Bharti Walmart said it will continue to identify regional brands that have appeal in certain parts of India as it expands to newer states.
Currently, Bharti Walmart operates five Best Price Modern Wholesale hypermarkets— three in Punjab, and one each in Rajasthan and Madhya Pradesh. It plans to expand to other parts of the country.
“We will certainly look at such brands, which may not be national brands, but would have some brand equity in certain pockets of the country,” Mediratta said.
rasul.b@livemint.com
The retailer then approached GlaxoSmithKline Consumer Healthcare Ltd (GSKCH), the maker of Gopikaghee, and made a pitch for reviving the brand.
“We told them the opportunity is win-win for both of us,” said Arvind Mediratta, business head for cash-and-carry at Bharti Walmart, a 50:50 joint venture between Wal-Mart Stores Inc., the world’s largest retailer, and New Delhi-based Bharti Enterprises Ltd. “They didn’t have the distribution focus on that brand and we thought we could distribute it in our trade areas. So we entered into an exclusive distribution tie-up.”
Today, Gopika outsells market leader Verkaghee in that cash-and-carry store in Zirakpur, Punjab, and GSKCH is happy to see a big increase in its sales, said Mediratta.
Retailers in India are not only busy building their private label portfolios, they are also looking at opportunities to revive old brands that still enjoy some recall among consumers or are looking at relaunching brands that have lost their sheen over the years.
Bharti Walmart is also handling the distribution of another GSKCH brand—the chocolate-flavoured health drink Maltova. Since acquiring Maltova from Jagatjit Industries in 2000, GSKCH has re-launched the brand twice—in 2002 and in 2004.
The brand had, however, “lost momentum”, according to Mediratta.
He said Maltova is now selling very well in Bharti Walmart’s three stores in Punjab, the target market of the beverage.
GSKCH, through its public relations agency Genesis Burson-Marsteller, declined to comment for this story. Emails sent to Shubhajit Sen, the company’s executive vice-president for marketing, on 30 November went unanswered.
There have been other successful brand revivals. In 2006, the Future Group acquired a mothballed jeans brand, Buffalo, from a family-owned company because the retailer found the brand still retained some “residual memory” among consumers. The company relaunched the jeans brand and spent crores of rupees in marketing it.
“We are extremely happy with it, and today it’s one of the fastest growing among our brands,” said Santosh Desai, managing director of Future Brands Ltd, the unit that is developing private brands for the country’s largest retail group.
Kishore Biyani, chief executive officer of Future Group, said his organization is currently in talks to acquire “many” such defunct brands in the home and personal consumer goods segments, declining to name any.
“Instead of building a new brand, why can’t we take a defunct brand and build it up so the primary work is always done,” he said. “It brings brand salience.”
Brand salience is the degree to which a brand is recalled by a consumer who is about to make a purchase.
Biyani said the company is also on the lookout for small-time brands that can be scaled up.
Jealous, a small jeans brand acquired five years ago, was a small Rs.1 crore business. “Now it’s nearly a Rs.40 crore brand for us,” he said.
According to Abhishek Malhotra, a partner at consulting firm Booz and Co., reviving existing brands comes with its own sets of advantages such as a ready infrastructure and brand equity.
“For modern trade, there are two choices. Either they can create their own brands or there is benefit of going with an existing brand that has all the infrastructure and try to reinvigorate that,” he said.
An organized retailer can help a great deal in reviving a brand, Malhotra said, and added, “A Wal-Mart or an Aditya Birla (retail) can offer significant upside and bring it back into the brand curving.”
Encouraged by its experience, such as with Gopika, Bharti Walmart said it will continue to identify regional brands that have appeal in certain parts of India as it expands to newer states.
Currently, Bharti Walmart operates five Best Price Modern Wholesale hypermarkets— three in Punjab, and one each in Rajasthan and Madhya Pradesh. It plans to expand to other parts of the country.
“We will certainly look at such brands, which may not be national brands, but would have some brand equity in certain pockets of the country,” Mediratta said.
rasul.b@livemint.com
aspirin can reduce the risk of many kinds of cancer
Low doses of aspirin can reduce the risk of many kinds of cancer, scientists said on Tuesday, and the evidence is strong enough to suggest people over 40 should take it daily as protection.
The findings will fuel an already intense debate about the merits of taking aspirin, which increases the risk of bleeding in the stomach to around one patient in every thousand per year.
In a study of eight trials involving 25,570 patients, researchers found that cancer deaths among those who took aspirin in doses as low as 75mg a day were 21% lower during the studies and 34% lower after five years.
Aspirin protected people against gastrointestinal cancers the most, the study found, with rates of death from these cancers around 54% lower after five years among those who took aspirin compared with those who did not.
Peter Rothwell of Britain’s Oxford University said that while taking aspirin carries a small risk of stomach bleeding, that risk was beginning to be “drowned out” by its benefits in reducing the risk of cancer and the risk of heart attacks.
“Previous guidelines have rightly cautioned that in healthy middle-aged people, the small risk of bleeding on aspirin partly offsets the benefit from prevention of strokes and heart attacks, but the reductions in deaths due to several common cancers will now alter this balance for many people,” he said.
His suggestion was that healthy people could start taking a small 75mg dose of aspirin every day from the age of around 40 or 45 and continue doing so until they reached 70-75, when the risk of the aspirin causing stomach bleeding rises.
Aspirin, originally developed by Bayer AG, is a cheap over-the-counter drug used for pain and to reduce fever.
Previous studies have found taking aspirin can cut the risk of developing colon or bowel cancer and suggested it does so by blocking the enzyme cyclooxygenase2, which promotes inflammation and cell division and is found in high levels in tumours.
Alastair Watson, a professor of translational medicine at the University of East Anglia, said the study was an important step in scientists’ understanding of how to prevent cancer.
“It is further proof that aspirin is, by a long way, the most amazing drug in the world,” he said.
In Rothwell’s study, published in The Lancet, researchers found the 20-year risk of death was reduced by around 10% for prostate cancer, 30% for lung cancer, 40% for colorectal or bowel cancer, and 60% for oesophageal cancer in those taking aspirin.
Reductions in pancreas, stomach and brain cancers were difficult to quantify because of smaller numbers of deaths.
The researchers added, however, that treatment with aspirin during the trials lasted for only for between four and eight years on average, so the effects on risk of deaths due to cancer may underestimate possible results of longer-term treatment.
Peter Elwood, an expert on aspirin from Cardiff University’s medical school who was not involved in this study, described aspirin as “a remarkable drug”.
“This risk of a bleed is so small compared to the benefits,” he told reporters. “Yes, okay, it’s a tragedy if a person is rushed into hospital and given a transfusion (because of a stomach bleed), but in relation to the things we are preventing, that is trivial.” Reuters
The findings will fuel an already intense debate about the merits of taking aspirin, which increases the risk of bleeding in the stomach to around one patient in every thousand per year.
In a study of eight trials involving 25,570 patients, researchers found that cancer deaths among those who took aspirin in doses as low as 75mg a day were 21% lower during the studies and 34% lower after five years.
Aspirin protected people against gastrointestinal cancers the most, the study found, with rates of death from these cancers around 54% lower after five years among those who took aspirin compared with those who did not.
Peter Rothwell of Britain’s Oxford University said that while taking aspirin carries a small risk of stomach bleeding, that risk was beginning to be “drowned out” by its benefits in reducing the risk of cancer and the risk of heart attacks.
“Previous guidelines have rightly cautioned that in healthy middle-aged people, the small risk of bleeding on aspirin partly offsets the benefit from prevention of strokes and heart attacks, but the reductions in deaths due to several common cancers will now alter this balance for many people,” he said.
His suggestion was that healthy people could start taking a small 75mg dose of aspirin every day from the age of around 40 or 45 and continue doing so until they reached 70-75, when the risk of the aspirin causing stomach bleeding rises.
Aspirin, originally developed by Bayer AG, is a cheap over-the-counter drug used for pain and to reduce fever.
Previous studies have found taking aspirin can cut the risk of developing colon or bowel cancer and suggested it does so by blocking the enzyme cyclooxygenase2, which promotes inflammation and cell division and is found in high levels in tumours.
Alastair Watson, a professor of translational medicine at the University of East Anglia, said the study was an important step in scientists’ understanding of how to prevent cancer.
“It is further proof that aspirin is, by a long way, the most amazing drug in the world,” he said.
In Rothwell’s study, published in The Lancet, researchers found the 20-year risk of death was reduced by around 10% for prostate cancer, 30% for lung cancer, 40% for colorectal or bowel cancer, and 60% for oesophageal cancer in those taking aspirin.
Reductions in pancreas, stomach and brain cancers were difficult to quantify because of smaller numbers of deaths.
The researchers added, however, that treatment with aspirin during the trials lasted for only for between four and eight years on average, so the effects on risk of deaths due to cancer may underestimate possible results of longer-term treatment.
Peter Elwood, an expert on aspirin from Cardiff University’s medical school who was not involved in this study, described aspirin as “a remarkable drug”.
“This risk of a bleed is so small compared to the benefits,” he told reporters. “Yes, okay, it’s a tragedy if a person is rushed into hospital and given a transfusion (because of a stomach bleed), but in relation to the things we are preventing, that is trivial.” Reuters
Pulling Together
by John Murphy
by John Murphy
Consistent application of the 10 rules of high performance teamwork ultimately generates trust, respect, unity and power within any team. Conversely, consistent violation of any one rule destroys this bond. While the author of the following is unknown, "Lessons From the Geese" is a powerful illustration from nature of the rules of high performance teamwork. As you read about the natural unity that exists among this species remember - this same unity can exist in your organization!
As geese flap their wings, they create an uplift for the bird following. By flying in a V formation, the whole flock adds 71% greater flying range than if any bird were to fly alone.
If we share a common direction and a sense of community, we can get where we are going more quickly and easily because we are traveling on the thrust of one another!
If we share a common direction and a sense of community, we can get where we are going more quickly and easily because we are traveling on the thrust of one another!
Whenever a goose falls out of formation, it suddenly feels the drag and resistance of trying to fly alone, and quickly gets back into formation to take advantage of the lifting power of the bird immediately in front.
If we have as much sense as geese, we will stay in formation with those who are headed where we want to go, and we will be willing to accept their help as well as give ours to others.
If we have as much sense as geese, we will stay in formation with those who are headed where we want to go, and we will be willing to accept their help as well as give ours to others.
When the lead goose gets tired, it rotates back into formation and another goose flies at the point position.
If we take turns doing the hard tasks and sharing leadership as with the geese, we become interdependent with one another.
The geese in formation honk from behind to encourage those up front to keep up their speed. If we "honk," we need to make sure it is positive and encouraging.
If we take turns doing the hard tasks and sharing leadership as with the geese, we become interdependent with one another.
The geese in formation honk from behind to encourage those up front to keep up their speed. If we "honk," we need to make sure it is positive and encouraging.
When a goose gets sick or wounded or is shot down, two geese drop out of formation and follow it down to help and protect it. They stay with it until it is able to fly again or dies. They then launch out on their own, with another formation or catch up with the flock.
If we have as much sense as geese, we too will stand by each other in difficult times, as well as when we are strong. Let us all try to fly in formation and remember to drop back to help those who might need it!
If we have as much sense as geese, we too will stand by each other in difficult times, as well as when we are strong. Let us all try to fly in formation and remember to drop back to help those who might need it!
BEHOLD THE POWER OF TEAMWORK
The greatest accomplishments in life are not achieved by individuals alone, but by proactive people pulling together for a common good. Look behind every winner and you will find a great coach. Look out in front of every superstar and you will see a positive role model. Look alongside every great achiever and you will find caring people offering encouragement, support and able assistance.
Rising to this level of interdependent thinking can be challenging and difficult. Looking beyond oneself, asking for help or accepting help can feel risky. But people are not given life to simply take from one another. We are here to give. Our mission in life is to offer our gifts to benefit one another, to create mutual gain in the world. This is called teamwork, a win/win mindset stemming from a genuine commitment to the rules that allow it to happen.
Tuesday, December 7, 2010
First-Ever Public Meeting of Mind and Life Dialogue Opens in India
November 23rd 2010
New Delhi, India, 22 November 2010 : The Mind and Life Dialogues that began in 1987 as a joint quest between scientists, philosophers and contemplative practitioners to understand the human mind and the benefits of contemplative practices is holding its first public meeting in Asia.
Previous Mind and Life dialogues have predominantly explored the benefits of Buddhist-based contemplative practices. This 22nd edition of dialogue now being held at India Habitat Center in New Delhi from Nov. 20 to Nov. 23 is the outcome of His Holiness the Dalai Lama’s wish to hold Mind and Life Dialogue in Asia particularly India where a rich array of philosophical and contemplative traditions have originated and developed since ancient times.
Previous Mind and Life dialogues have predominantly explored the benefits of Buddhist-based contemplative practices. This 22nd edition of dialogue now being held at India Habitat Center in New Delhi from Nov. 20 to Nov. 23 is the outcome of His Holiness the Dalai Lama’s wish to hold Mind and Life Dialogue in Asia particularly India where a rich array of philosophical and contemplative traditions have originated and developed since ancient times.
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| His Holiness the Dalai Lama speaking at the opening of the Mind and Life conference in New Delhi on November 21st, 2010. Photo/Tenzin Choejor/OHHDL |
The dialogue in New Delhi seeks to broaden the contemplative Science research by examining practices from the Indian philosophical and cultural heritage including Vendanta, Jain and Yoga.
Dr. Vijaylakshmi Ravindranath, chairman of the Center for Neuroscience of the Indian Institute of Sciences (Bangalore) and founder-director of the National Brain Research Center said holding such dialogues for the first time India, a land rich in contemplative science tradition would help neuroscientists find answers to critical questions in understanding the brain. Addressing His Holiness, she said Indian scientists are already showing enormous interests in the dialogue asking for workshops.
In his presentation during the first session of the Mind and Life dialogue, His Holiness the Dalai Lama dismissed the notion that science is a killer of religion adding Indian philosophical traditions including the Nalanda tradition of Buddhism emphasise the importance of investigation and reasoning in understanding the nature of reality. Such an approach like modern science requires one to be skeptical and adopt investigation to gain awareness or understanding of what benefits human beings in the long-term perspectives. “There’s no concept of right or wrong,” he said, “Investigate the reality and there’s no danger to religion.”
The purpose of Mind and Life Dialogue, according to His Holiness, is to simply expand knowledge not only on external matters but also internal matters such as mind. The knowledge gained through this approach will be used not only for individual benefit but for the well-being of the whole humanity. Sometimes remarkable scientific and technological knowledge, His Holiness said, are used for destructive purposes like nuclear weapons; when used for constructive purposes, it could promote a sense of individual well-being as well as concern for others. Religious methods alone cannot bring a compassionate and peaceful world.
In the first session, Swami Atmapriyananda, the vice chancellor of Ramakrishna Mission Vivekananda University who is also a physicist and a contemplative practitioner of Advaita Vendata tradition and Thupten Jinpa, the principal English translator to His Holiness and a Tibetan Buddhist scholar provided an overview of the philosophical perspectives from Hinduism and Buddhism. In their presentations, Swamiji and Mr. Jinpa discussed the ways their traditions articulated the wider understanding of reality that is the context for contemplative practices. They emphasized similarities and differences in addressing such questions as the nature of the mind and body, and techniques to achieve personal transformation. Mr. Jinpa said the primary sources of Tibetan Buddhism are the texts authored by Nalanda masters like Nagarjuna, Dhignath, Dharmakirti, Asanga, Vasobandhu, Shantideva, etc.
Dr. Richard Davidson, Director of Center for Investigating Healthy Minds at University of Wisconsin-Madison, in his presentation of scientific findings on the nature of contemplative practices reported benefits of compassion on brain for long-term practitioners including increase in mindfulness and attention. He said anxiety at anticipation of pain or suffering intensified in novice practitioners compared to expert practitioners. In his study of Attentional Blink Task, dramatic changes were cited among subjects who underwent three months training in meditation practices.
The third session on Nov. 22 focussed on the understanding Vedanta practice and its intersection with science with Swami Atmapriyananda making his presentation on the nature of the Advaita Vedanta practitioner. He discussed the number of stages of purification process that leads dehypnotizing the mind from false realities leading to ananda or pure bliss.
Commenting on Swamiji’s presentation on the ‘small self’ or ego merging into the ‘greater self’ as if understood in Vedanta tradition, His Holiness said the act of merging itself in a way indicates the deconstruction of the self. He drew the same analogy with the Christian practice of total submission of oneself to the creator or God. Another more secular way, he said, is to reduce self-centered arrogance. He said the methods are different in different traditions but the effect is same.
His Holiness then discussed some cases of Tibetan practitioners who were clinically declared dead but their body remained fresh for 2-3 weeks indicating the existence of a subtler form of consciousness long after heart beating and blood circulation had stopped functioning. Three such cases were reported recently in south India where large Tibetan monasteries are located.
Dr. Singer said science have yet to find answers for such phenomena although they do occur.
His Holiness said until now science has focussed more attention on understanding the external things or outer realities in contrast to eastern traditions which have been around for centuries studying and investigating internal things. He said there needs to be a closer coordination among scientists and contemplative practitioners so science will become more complete by carrying out more research work on internal phenomena.
Dr. Matthieu Ricard, Buddhist practitioner and the French interpreter to His Holiness said the dehypnotizing process explained by Swamiji was similar to Buddhist practice of undiluting a mind filled with distorted perceptions; the act of deconstructing misconceptional reality leading to pure awareness.
In session four of the Mind and Life Dialogue, His Holiness discussed the central practices in yoga and Jain traditions with Muni Mahendra Kumar, a multi-linguist versatile Jain scholar in physics, Mathematics, bioscience, philosophy, psychology, parapsychology, ancient history, and meditation and Dr. Shirley Telles, director of research at Patanjali Yogpeeth in Haridwarand head of Indian Council of Medical Research Center for Advanced Research in Yoga and Neurophysiology at Bangalore.
In addition to explaining the contemplative practices in Jainism, Muni Mahendra Kumar presented some empirical evidences of the overall benefits of emotional, mental and physical developments through Preksha (science of living) meditation carried out in over 10,000 schools in India. He called for a global education system where education is not only focussed on providing livelihood and career but also on how to live a life, a social life, as a human being. He said reversal of coronary heart diseases among 20,000 patients were also reported. There were cases where immunity to cancer, AIDS, and drug addiction increased. Studies are also being carried out in areas such as juvenile delinquency. There are also efforts to bring non-violent soci-economic changes in Naxalite-hit areas of Jharkhand where efforts are on to bring non-violence training to poor people. Muni Mahendra Kumar emphasized the need for a systematic research design to help Indian scientists in implementing contemplative practices in everyday life.
Dr. Telles speaking on the physiology of meditation presented some findings from a series of studies carried out in the last 17 years to examine the application of yoga in clinical contexts for mental and physical health. Using five meditation traditions - four from yoga and one from Vipassana - the study found all five reduced signs of arousals in body such as blood pressure, reduced heart rate and metabolism. She also discussed the effects of meditation on attention and memory using the Dhyana and Dharana meditative states as practiced in the Patanjali Yoga Sutra. Studies were also carried out among schizophrenic patients using the Dharana meditation in understanding distorted perceptions.
In his presentation on expansion and contraction approaches in Vedanta contemplative practice, clinical scientist HR Nagendra explained the Samadhi, that level of consciousness when the meditator, the meditated, and the process of meditation merge together and become one.
His Holiness commenting on Dr. Nagendra’s presentation referred to descriptions of the nine stages of mental development in Samadhi process in Buddhist meditation manuals.
Dr. Rajesh Kasturirangan, associate professor at National Institute of Advanced Studies (Bangalore) who completed his doctorate in cognitive science at MIT in his comments suggested the integration of both philosophical and theoretical knowledge base of eastern and western traditions to explore grounds for unity. He said there could be avenues for the emergence of a new discipline of what he called “science of human nature” or study of well-being. Dr. Kasturirangan said benefits of well-being can be applied to many pressing contemporary issues such as education and climate change. This could be achieved by culling together best of theoretical ideas with latest advanced scientific developments. Citing Bertrand Russell’s quote on the incompatibility of Plato and Mathematics, he said it is possible for Nagarjuna and Neuroscience to be compatible.
The purpose of Mind and Life Dialogue, according to His Holiness, is to simply expand knowledge not only on external matters but also internal matters such as mind. The knowledge gained through this approach will be used not only for individual benefit but for the well-being of the whole humanity. Sometimes remarkable scientific and technological knowledge, His Holiness said, are used for destructive purposes like nuclear weapons; when used for constructive purposes, it could promote a sense of individual well-being as well as concern for others. Religious methods alone cannot bring a compassionate and peaceful world.
 |
| His Holiness the DalaiLama and Swami Atmapriyananda exchange views during the Mind and Life conference in New Delhi on November 21st, 2010. Photo/Tenzin Choejor/OHHDL |
Dr. Richard Davidson, Director of Center for Investigating Healthy Minds at University of Wisconsin-Madison, in his presentation of scientific findings on the nature of contemplative practices reported benefits of compassion on brain for long-term practitioners including increase in mindfulness and attention. He said anxiety at anticipation of pain or suffering intensified in novice practitioners compared to expert practitioners. In his study of Attentional Blink Task, dramatic changes were cited among subjects who underwent three months training in meditation practices.
The third session on Nov. 22 focussed on the understanding Vedanta practice and its intersection with science with Swami Atmapriyananda making his presentation on the nature of the Advaita Vedanta practitioner. He discussed the number of stages of purification process that leads dehypnotizing the mind from false realities leading to ananda or pure bliss.
Commenting on Swamiji’s presentation on the ‘small self’ or ego merging into the ‘greater self’ as if understood in Vedanta tradition, His Holiness said the act of merging itself in a way indicates the deconstruction of the self. He drew the same analogy with the Christian practice of total submission of oneself to the creator or God. Another more secular way, he said, is to reduce self-centered arrogance. He said the methods are different in different traditions but the effect is same.
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Indian Habitat Center in New Delhi, India, venue for the Mind and Life Conference from November 21-23, 2010. Photo/Tenzin Choejopr/OHHDL |
Dr. Singer said science have yet to find answers for such phenomena although they do occur.
His Holiness said until now science has focussed more attention on understanding the external things or outer realities in contrast to eastern traditions which have been around for centuries studying and investigating internal things. He said there needs to be a closer coordination among scientists and contemplative practitioners so science will become more complete by carrying out more research work on internal phenomena.
Dr. Matthieu Ricard, Buddhist practitioner and the French interpreter to His Holiness said the dehypnotizing process explained by Swamiji was similar to Buddhist practice of undiluting a mind filled with distorted perceptions; the act of deconstructing misconceptional reality leading to pure awareness.
In session four of the Mind and Life Dialogue, His Holiness discussed the central practices in yoga and Jain traditions with Muni Mahendra Kumar, a multi-linguist versatile Jain scholar in physics, Mathematics, bioscience, philosophy, psychology, parapsychology, ancient history, and meditation and Dr. Shirley Telles, director of research at Patanjali Yogpeeth in Haridwarand head of Indian Council of Medical Research Center for Advanced Research in Yoga and Neurophysiology at Bangalore.
In addition to explaining the contemplative practices in Jainism, Muni Mahendra Kumar presented some empirical evidences of the overall benefits of emotional, mental and physical developments through Preksha (science of living) meditation carried out in over 10,000 schools in India. He called for a global education system where education is not only focussed on providing livelihood and career but also on how to live a life, a social life, as a human being. He said reversal of coronary heart diseases among 20,000 patients were also reported. There were cases where immunity to cancer, AIDS, and drug addiction increased. Studies are also being carried out in areas such as juvenile delinquency. There are also efforts to bring non-violent soci-economic changes in Naxalite-hit areas of Jharkhand where efforts are on to bring non-violence training to poor people. Muni Mahendra Kumar emphasized the need for a systematic research design to help Indian scientists in implementing contemplative practices in everyday life.
Dr. Telles speaking on the physiology of meditation presented some findings from a series of studies carried out in the last 17 years to examine the application of yoga in clinical contexts for mental and physical health. Using five meditation traditions - four from yoga and one from Vipassana - the study found all five reduced signs of arousals in body such as blood pressure, reduced heart rate and metabolism. She also discussed the effects of meditation on attention and memory using the Dhyana and Dharana meditative states as practiced in the Patanjali Yoga Sutra. Studies were also carried out among schizophrenic patients using the Dharana meditation in understanding distorted perceptions.
In his presentation on expansion and contraction approaches in Vedanta contemplative practice, clinical scientist HR Nagendra explained the Samadhi, that level of consciousness when the meditator, the meditated, and the process of meditation merge together and become one.
His Holiness commenting on Dr. Nagendra’s presentation referred to descriptions of the nine stages of mental development in Samadhi process in Buddhist meditation manuals.
Dr. Rajesh Kasturirangan, associate professor at National Institute of Advanced Studies (Bangalore) who completed his doctorate in cognitive science at MIT in his comments suggested the integration of both philosophical and theoretical knowledge base of eastern and western traditions to explore grounds for unity. He said there could be avenues for the emergence of a new discipline of what he called “science of human nature” or study of well-being. Dr. Kasturirangan said benefits of well-being can be applied to many pressing contemporary issues such as education and climate change. This could be achieved by culling together best of theoretical ideas with latest advanced scientific developments. Citing Bertrand Russell’s quote on the incompatibility of Plato and Mathematics, he said it is possible for Nagarjuna and Neuroscience to be compatible.
source: H H Dalai Lama web site
China's Tibet sees booming trade with India thru Nathu La
China's Tibet sees booming trade with Nepal, India
(Xinhua)
Updated: 2010-10-28 17:24
LHASA - In an obscure corner on the Barkor, a famous market street in the heart of Tibet autonomous region's capital Lhasa, stands a centennial store that sells Nepalese handcraft items ranging from Buddha statues and ornaments to thangka paintings.
Local Tibetans call the store "Shamo Garbo," meaning "white hat," because the Nepalese man who opened it more than 100 years ago always wore a white hat and his name was too difficult for the locals to pronounce.
The present store owner, Ratna Kumar Tuladhar, is the man's great grandson.
"In my younger days I had to trek many days from Kathmandu to Lhasa in the Himalayas. Today, the two cities are linked by mountain roads and daily flights," said the 50-year-old.
China's three leading airline companies -- China Eastern, China Southern and Air China -- all operate passenger flights to Kathmandu.
Easier and cheaper transport has cut costs, offering a larger profit margin as well as discounted prices for the customers, he said.
As China steps up trade and economic cooperation between its southwestern region and the neighboring countries including Nepal and India, more businesspeople have invested in Tibet, said Su Yuanming, an official in charge of border trade at the regional commerce department.
"Such cross-border cooperation is conducive to Tibet's economic development and the overall growth of China's underdeveloped western regions," he said.
Tibet reported $254 million of border trade in the first eight months of this year, up 88 percent year-on-year, said Su.
He said trade with Nepal took up 95 percent of Tibet's border trade. "Last year, Tibet reported $249 million of bilateral trade with Nepal."
Meanwhile, trade with India totaled 16.3 million yuan ($2.44 million) last year, at least 10 times the 2006 volume, thanks to the 2006 reopening of Nathu La Pass, a historic trade route wedged between Yadong county of Tibet's Xigaze prefecture and India's Sikkim State.
(Xinhua)
Updated: 2010-10-28 17:24
LHASA - In an obscure corner on the Barkor, a famous market street in the heart of Tibet autonomous region's capital Lhasa, stands a centennial store that sells Nepalese handcraft items ranging from Buddha statues and ornaments to thangka paintings.
Local Tibetans call the store "Shamo Garbo," meaning "white hat," because the Nepalese man who opened it more than 100 years ago always wore a white hat and his name was too difficult for the locals to pronounce.
The present store owner, Ratna Kumar Tuladhar, is the man's great grandson.
"In my younger days I had to trek many days from Kathmandu to Lhasa in the Himalayas. Today, the two cities are linked by mountain roads and daily flights," said the 50-year-old.
China's three leading airline companies -- China Eastern, China Southern and Air China -- all operate passenger flights to Kathmandu.
Easier and cheaper transport has cut costs, offering a larger profit margin as well as discounted prices for the customers, he said.
As China steps up trade and economic cooperation between its southwestern region and the neighboring countries including Nepal and India, more businesspeople have invested in Tibet, said Su Yuanming, an official in charge of border trade at the regional commerce department.
"Such cross-border cooperation is conducive to Tibet's economic development and the overall growth of China's underdeveloped western regions," he said.
Tibet reported $254 million of border trade in the first eight months of this year, up 88 percent year-on-year, said Su.
He said trade with Nepal took up 95 percent of Tibet's border trade. "Last year, Tibet reported $249 million of bilateral trade with Nepal."
Meanwhile, trade with India totaled 16.3 million yuan ($2.44 million) last year, at least 10 times the 2006 volume, thanks to the 2006 reopening of Nathu La Pass, a historic trade route wedged between Yadong county of Tibet's Xigaze prefecture and India's Sikkim State.
China Inaugurates Fifth Airport in Tibet China inaugurated its fifth airport in Tibet, strategically close to the Indian border. The new 'civil airport' at Xigaze City in southwest China's Tibet Autonomous Region began operations today after it was inaugurated at a colourful ceremony, the official media here reported. An Air China Airbus 319 landed at 'Xigaze Peace Airport' in Jiangdang Township at 9:50 am, marking the airport's formal opening. The plane took off from Chengdu, the capital city of neighbouring Sichuan Province, and stopped at Lhasa before flying to Xigaze. The USD 79.7 million airport is located 3,782 meters above sea level and it is the fifth airport in Tibet built by China. The other airports included Lhasa, Nyingchi, Qamdo and Ngari. The new airport has a terminal space of 4,500 sq m and is expected to handle about 230,000 passengers and 1,150 tonnes of cargo annually by 2020, said Xu Bo, chief of the Civil Aviation Bureau of Tibet Autonomous Region. Over the past five years, China has poured over 70 billion yuan (USD 10 billion) into Tibet in 188 infrastructure projects to boost the regional economy and promote tourism, he said. Xiagaze, housing the monastery of the China-appointed Panchen Lama, the second highest spiritual Buddhist leader next to the Dalai Lama, is also the closest Tibetan city to the Indian, Nepal and Bhutan borders. Tibet was very much in news in the recent months as China expanded its air, rail and road network to connect almost all parts of the region to mainland China. The greater movement by China in the Tibetan region has raised security concerns in India as the infrastructure development would allow the People's Liberation Army (PLA) to move its troops to quickly to the Indian border. The PLA also conducted its first air and land military exercises in the Tibet recently. Tibet is also reporting increase in its trade with India and Nepal. Tibet's trade with India picked up after the opening of the Nathu La Pass, a historic trade route wedged between Yadong County of Tibet's Xigaze Prefecture and Sikkim, Xinhua said. Tibet's trade with India totaled 16.3 million yuan (USD 2.44 million) last year, at least 10 times the 2006 volume, thanks to the 2006 reopening of Nathu La Pass, Su Yuanming, an official in charge of border trade at the regional commerce department said. Filed On: Oct 30, 2010 17:30 IST |
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