INDO-AMERICANFRIDAY, MARCH NEWS 2, 2007• FRIDAY, MARCH 2, 2007 India-Pakistan Agree to Share Gas, But Differ on Cost 39 BUSINESS | TECHNOLOGY | MONEY | STOCKS BUSINESS DESI Petroleum Secretaries of Pakistan and India : Ahmad MarketWatch Waqar (L) Wednesday, February 28, 2007 and S.B. BOMBAY SENSEX, 3:30 PM Tripathi (R) BSE SENSEX BusiNess 12938.09 -540.74 (-4.01%) NIFTY 3745.30 -148.60 DesiNews (-3.82%) KSE 100 INDOAMERICANNEWS | www.indoamerican-news.com Index 11180.02 -196.10 KSE All Share Web Technology @ IITAGH 7457.80 IITAGH’s first talk of the 2007 lecture series presents an innovative web application developed by an IIT alumnus Currency Exchange Rates 1US $= BY SURAJ MHATRE The handwriting tool has built-in smoothing to Indian Rupee 44.08 SUGAR LAND – IIT Pakistani Rupee 60.62 Alumni of Great-er Hous- automatically smooth out Bangladeshi Taka 68.98 ton (IIT-AGH) kicked off uneven text to match your Sri Lanka Rupee 108.76 their 2007 lecture series natural handwriting in Nepal Rupee 71.07 with the first talk of the any language of choice. year by Joseph Pally on Feb ZCubes also makes it 123456789012345678901234567 easy to share your cre- 123456789012345678901234567 22, 2007. 123456789012345678901234567Sensex Crashes 541 Points Pally is a 1988 graduate ation. You can choose 123456789012345678901234567 The stock markets gave a virtual thumbs from several options such 123456789012345678901234567 from IIT Madras. He un- 123456789012345678901234567down to the Union Budget and the bench- veiled the next generation as save to local disk, email 123456789012345678901234567mark BSE crashed 541 points to end below 123456789012345678901234567 of web application called or publish your creation 123456789012345678901234567the 13,000-point mark on Wednesday in ZCubes. Joseph Pally and online with appropriate 123456789012345678901234567highly volatile trading on selling by funds 123456789012345678901234567 Parag Mathur demon- tag names and appropri- 123456789012345678901234567and investors. strated the capabilities of ate security settings. The 123456789012345678901234567After plunging 678 points, the Sensex 123456789012345678901234567 ZCubes web application to ZCubes virtual black- 123456789012345678901234567remained volatile and ended with a hefty loss ZCubes President Joseph Pally demonstrating the board is a teaching aid and 123456789012345678901234567 the audience numbering 123456789012345678901234567of 540.74 points, or 4.01 %, at 12,938.09. It more than 60 people at Ma- capabilities of the interactive web application at first of the come in handy for making 123456789012345678901234567came below 13,000 points level and moved IITAGH 2007 lecture series. 123456789012345678901234567 dras Pavillion in Sugar quick notes during busi- 123456789012345678901234567between 13,298.52 and 12,800.91 during the Land, Texas. them, add captions, draw on them ness presentations. 123456789012345678901234567day. 123456789012345678901234567 Today's generation is appropriately and even handwrite to add that IITAGH activities include talks, 123456789012345678901234567In similar fashion, the National Stock called the multitasking generation or extra personal touch. You can also networking and social events, 123456789012345678901234567Exchange index Nifty dropped by 148.60 123456789012345678901234567 Generation M. "How wonderful would it drag and drop multiple videos from mentoring of college graduates from 123456789012345678901234567points, or 3.82 % at 3,745.30. It moved be- surrounding universities and teach- 123456789012345678901234567 be if the web could be as creative as the YouTube and view them simulta- 123456789012345678901234567tween 3,893.40 and 3,674.85 points. human mind; with an application that neously on a single screen while ing Math at the Lee High School. 123456789012345678901234567Major negative factors for the market There are over 1,000 IIT alumni in 123456789012345678901234567 lets you mix and match the best of the shopping online. 123456789012345678901234567were the budgetary proposals including a web to suit your needs,” said Pally. E-cards can be jazzed up by cre- the greater Houston area and the 123456789012345678901234567hike in dividend distribution tax, a 25 % 123456789012345678901234567 ZCubes allows you to create profes- ating them in your own style in the number is growing. The IITAGH is a 123456789012345678901234567dividend distribution tax for mutual funds sional web pages like photo albums by Zgreetings mode by choosing from a non-exclusive organization that is 123456789012345678901234567and liquid mutual funds, imposition of tax on 123456789012345678901234567 simply dragging and dropping images gallery of backgrounds, adding ani- open to all. 123456789012345678901234567employees stock option plan (ESOP) and no from search programs such as Google You can learn more about ZCubes 123456789012345678901234567change in the corporate tax. mations and clip art with a single 123456789012345678901234567 and Flicker or uploading your photos click and adding fancy clipart or by at www.ZCubes.com. For more infor- 123456789012345678901234567Selling pressure gathered momentum as mation on IITAGH, visit 123456789012345678901234567 and enhancing them with special ef- drawing something online with the 123456789012345678901234567there was no concessions in corporate tax fects. Place them anywhere, rotate ZPaint functionality. www.iitagh.org. 123456789012345678901234567and securities transaction tax, brokers said. INDO-AMERICAN NEWS • FRIDAY, MARCH 2, 2007 40 INDO-AMERICAN NEWS • FRIDAY, MARCH 2, 2007 BUSINESS DESI India- India Retail World Briefs Pakistan Agree to Unfriendly Protests Greet Wal-Mart in India Car Giants to Build Share Gas DELHI – A visit to India by Wal- about $300 billion a year and has at- Mart executives has sparked protests tracted the interest of international re- Indian Plant ISLAMABAD – India and by small shopkeepers worried about its tailers. CHENNAI – Renault and Nissan are join- Pakistan moved a step closer to plans for a tie-up with Bharti Enter- A spokesman for India FDI Watch, ing forces with India’s Mahindra & Mahindra build the $7 billion Iran- prises. which tries to limit the growth of foreign to build a Pakistan-India gas pipeline as Communist protesters were new $900 they reached an understanding briefly arrested after they illion car to share natural gas to be marched on government buildings plant in the imported from Iran, but they in Delhi, waving placards saying city of failed to arrive at a consensus “Save small retailers”. Chennai, on transportation costs and Wal-Mart vice-chairman Madras. transit fee. Michael Duke is in Mumbai for Mahindra, Pakistan’s petroleum talks with Bharti bosses and gov- India’s secretary Ahmad Waqar said ernment representatives. fourth- the two nations have agreed to Wal-Mart and Bharti are plan- largest car Mahindra sees its future in the receive 60 million standard ning a joint venture for cash-and- firm, will mainstream car market cubic carry. own 50% of the venture with its partners con- meters A statement from Wal-Mart trolling the rest. of gas says Mr Duke is visiting India “to Small retailers fear that they will lose business Production is expected to start in 2009 and per learn more about the market first- the plant will ultimately be able to turn out day hand and to further explore the whole- retailers in India, says Wal-Mart’s entry 400,000 cars a year. and sale cash-and-carry business”. threatens large numbers of jobs. Foreign firms have flocked to India because share The protestors burned an effigy rep- “Around 40 million people depend on of the economy’s strong growth and low costs. 30 resenting Wal-Mart near the office of the retail sector and these people’s live- Both Ford and Hyundai have already mil- Kamal Nath, the Indian commerce and lihoods will be ruined if Wal-Mart is opened plants in Chennai. lion trade minister. permitted to enter India's retail mar- stan- Petroleum Secretaries India’s retail industry is worth ket,” he said. Big Blast for Space Mission Ahmad Waqar (L) of dard INDIA – Space program got a nearly Rs 900 Pakistan and S.B. Tripathi cubic Argos in Indian Franchise Venture crore hike in Budget outlay. Space experts says (R) of India meters INDIA – The Argos retail name is to Argos will license its brand and prod- this is one of the largest hikes in recent times each in the first phase. be taken to India through a franchise uct catalogue for use in retail outlets in which will lift the space sector to higher orbits. The remaining volumes India, with the first due to open in While the amount earmarked last year was would be shared in the next Mumbai later this year. Rs 2,997 crore, it has shot up to Rs 3,860 crore phase of the project. The Argos, which is part of the Home this year. An important aspect of the space understanding was reached at Retail Group, said the deal would give it budget was that it has given a push to the a bilateral meeting attended by a “foothold” in a fast-expanding market. manned space program by allotting a sum of Rs petroleum officials of India and Several other British retailers includ- 50 crore for this project. Pakistan while Iran attended it ing Mothercare have used the franchise Experts says “Indian manned mission space as an observer. model to enter India. program has been envisaged as a national effort The two sides have not Argos is teaming up with Indian firms with Isro playing lead role to develop an autono- finalised the route of the 644 Shopper’s Stop and Hypercity Retail In- mous orbital vehicle to carry a two-member miles long pipeline. For secu- dia to launch the Hypercity Argos retail crew to the low earth orbit and safely return rity reasons, Pakistan has concept. them to earth.” proposed three routes and India is seen as one of the world’s most As well as providing its own cata- The program was approved by scientists, suggested a coastal route which untapped retail markets logue, Argos will offer IT support and including cosmonaut Rakesh Sharma in No- increased the length of the deal with two of the country’s leading advice on developing sales through the vember 2006, and is awaiting the formal green pipeline within Pakistan by store chains. internet.