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L&T's construction arm bags orders worth Rs 3,572 cr from Bangalore International Airport, others
L&T's metallurgical and material handling business received orders worth Rs 1,264 crore in the domestic market
New Delhi: Larsen & Toubro (L&T) on Monday said its construction arm has won orders worth Rs 3,572 crore across business segments.
"The construction arm of L&T has won orders worth Rs 3,572 crore across various business segments," the engineering and construction major said in a BSE filing.
L&T said transportation and infrastructure business has bagged order an worth Rs 1,358 crore from Bangalore International Airport Ltd.
Its metallurgical and material handling business received orders worth Rs 1,264 crore in the domestic market.
While the company's power transmission and distribution business and building and factories business won orders worth Rs 595 crore and Rs 355 crore, respectively.
Shares of the company were trading 0.87 percent higher at Rs 1,226.90 apiece in the morning trade on BSE on Monday.
Ryan Reynolds, Salma Hayek's The Hitman’s Wife’s Bodyguard debuts with $11.6 mn to claim top spot at US box office
The Hitman sequel notched A Quiet Place Part II, which took hold of the second spot in its fourth weekend of release.
Christie's to hold sale of creations by designer L’Wren Scott; collection to include pieces worn by Mick Jagger, Penelope Cruz
Scott was known for her elegant creations in lush fabrics; among her many influential customers was former first lady Michelle Obama.
Chandhok is one of the only two Indian drivers to have made it to Formula 1 with the other being Narain Karthikeyan.


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CHICAGO — Tribune Co. said Monday it has agreed to buy NTC Publishing Group, a Lincolnwood publisher of educational materials, for $82 million in cash.
The acquisition is the latest in the educational publishing field by the Chicago-based company, which owns the Chicago Tribune.
NTC, with revenues last year of $31 million, has 4,000 titles in print, audio and multimedia formats in 75 countries. Its labels include National Textbook Co., Passport Books, VGM Career Horizons, the Quilt Digest Press and NTC Business Books.
The privately held firm has about 160 employees.
Tribune's educational arm, Tribune Education, publishes materials for the school and home markets. Its businesses include the Wright Group, Contemporary Books, Everyday Learning Corp. and an equity interest in ImageBuilder Software Inc., a multimedia software developer.
Also, the Tribune last week reached an agreement to buy Educational Publishing Corp. of Mountain View, Calif., for $200 million in cash.
Tribune intends to combine NTC and Contemporary Books into a new company called NTC/Contemporary Publishing Co. Mark R. Pattis, now publisher and chief executive of NTC, will become president and CEO of the new company.
In another announcement, Chicago Tribune said it was changing the name of its direct-mail marketing arm. That company, known as AmeriComm Direct Marketing/Illinois, will now be called Chicago Tribune Direct.

domain: news


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The company earned a Super Service Award, a recognition that goes to only 5 percent of all the companies rated on Angie’s List.
Green Pest Solutions has earned a Super Service Award, a recognition that goes to only 5 percent of all the companies rated on Angie’s List.
“We are quite privileged to represent America’s private sector and are honored to be mentioned in this nationally acclaimed list,” said Matt Jesson, president of Green Pest Solutions. “From day one, our mission was to become a leading independent green industry company by providing superior customer service. To this day, Green Pest Solutions thrives on superior customer service and I thank our employees, brand-loyal customers, and Angie’s List for this prestigious acknowledgment.
Angie’s List Founder Angie Hicks said Super Service Award companies are “a select group of companies rated on Angie’s List that can claim the exemplary customer service record. Our standards for the Super Service Award are quite high. The fact that Green Pest Solutions earned this recognition speaks volumes about its dedication to providing great service to its customers.”
Angie’s List Super Service Award 2012 winners have met strict eligibility requirements, including earning a minimum number of reports, an excellent rating from their customers and abiding by Angie’s List operational guidelines.
Service company ratings are updated daily on Angie’s List. Companies are graded on an A through F scale in areas ranging from price to professionalism to punctuality. Members can find the 2012 Super Service Award logo next to company names in search results on AngiesList.com.


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The 1994 FDA official definition of “healthy” is under review. With changing ideas of health and people’s eating habits, along with evolving nutrition research, this is a good time to re-evaluate regulations concerning nutrient content. Under the current definition, food can be marketed as healthy if it meets appropriate levels of fat, saturated fat, sodium, cholesterol, and beneficial nutrients. Snacks can’t have more than 3 grams of fat.
“Healthy” was defined when low fat content was the main focus and sugar was not. Current guidelines would mean Frosted Flakes and Pop Tarts could be marketed as “healthy”, but salmon and almonds could not. Ideas of “healthy fat” have changed, yet FDA regulations change very slowly. Years after lobbying for their removal, the FDA finally banned trans fats last year.
The makers of the Kind fruit-and-nut bars initiated the push to change the definition after it was sent a warning for using the term “healthy” on the packaging. Last month, Kind made tweaks to the labels. Recently, the FDA agreed that Kind can use the phrase “healthy and tasty” in a descriptive paragraph, but not with the nutrition information.
Congress is also pushing the FDA to update the regulations and make it a priority issue. The FDA will propose updating the definition of “healthy.” Then there will be a time to ask the public and food producers to comment on what should be included in the modern definition of healthy, submitting their ideas and research. After the new definition is written and another comment period, manufacturers will have time to comply. Some may have to change ingredients and hire lawyers to keep up with changing rules. The process could take several years to complete.
Gasparro, Annie. “FDA Seeks to Redefine ‘Healthy’.” Business. The Wall Street Journal, 10 May 2016. Web. 10 May 2016.


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The U.S. company launches new virtual reality viewers in collaboration with HTC. Among the novelties a remote control to manage the controls
Never Google decides to be second in the field of innovation. And that's why the U.S. company after Cardboard enters the market for virtual reality devices with Daydream VR. A viewer in form and concept much more similar to the already known Samsung Gear VR.
The Daydream VR platform had already been announced by Google in August and now it is reality. It works quite similar to other visors already on the market. It can be compatible with smartphones and apps of the latest generation and the novelty will be the remote control that should facilitate the controls. A small white remote control with a round touchpad and two buttons. The launch price of Daydream will be $79, just over 70 euros. The viewer is manufactured by Htc and will be untethered from Google's Android mobile operating system. So as to encourage other Android manufacturers to create their own VR visors as well.
The new Google product emphasizes how virtual reality is a growing trend in the last period. And although Daydream VR is still in its launch phase, many video game and app manufacturers have said they are interested in continuing development in this direction. As well as in the projects of the U.S. company there could be the acquisition of the rights to some sports leagues and special 360° videos
(Taken from YouTube)
Among the many innovations planned at home Google there are also the already talked about Pixel and Pixel XL smartphones. The new line will replace the Nexus and is produced, as well as the Daydream VR, by Taiwanese Htc. Oltre questo Google lancia sul mercato un nuovo router Wi-Fi e l’atteso Chromecast Ultra per ascoltare e guardare video e musica direttamente sul televisore. E le novità non finiscono qui visto che il restyling Google continua e si mette in concorrenza con Amazon per quanto riguarda i dispositivi di Home assistant. Con Google Home sarà possibile ascoltare musica, fare ricerche vocali e organizzare con ordine gli impegni settimanali e le faccende domestiche.
(Il video Introducing Daydream View, VR Headset by Google è tratto da YouTube)
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Cross River State Governor, Ben Ayade has gifted his Special Assistant on Strategic Communication, Andrea Ekeng Inyang a brand new car.
Mr. Inyang shared photos of his new car Facebook on December 25, as he thanked the Governor for his generosity.
Sharing himself posing inside the car, the personal assistant wrote;
“Governor Ayade making my Christmas very soft as he delivers a brand new car as an Xmas gift to me. Thank you Master. The promise keeper”


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Atlus announces Dungeon Travelers 2: The Royal Library & the Monster Seal hitting PS Vita later this year
If you love the dungeon-crawlers Atlus releases but want one with far more female companions fawning over the hero, Dungeon Travelers 2 sounds right ...
Ubisoft has multiple projects in development set in the Child of Light universe, creator Patrick Plourde revealed on Twitter over the weekend.
Resident Evil Revelations 2 is finally heading to PlayStation Vita this summer, according to Sony Computer Entertainment.
YouTube is prepping an ad-free subscription service expected to launch relatively soon, The Verge reports.
Blot Interactive is brining its upcoming puzzle game Bloxiq to the PlayStation Vita, offering up owners of the handheld a new twist on puzzle games.
Operation Abyss: New Tokyo Legacy, Experience Inc.’s follow-up to last year’s Demon Gaze, will launch on PlayStation Vita at the start of this ...
A new month means a new pair of free games for PlayStation Plus members across all of Sony’s platforms.


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President Donald Trump will not attend the second Presidential primary debate, and instead will address 500 union members and retirees.
The United Auto Workers (UAW), for the first time, called a strike against all Big Three automakers at once, over pay and the EV shift.
Wyoming is considering a joint resolution against electric vehicles in the State. Everyone is overlooking the serious points it makes.
Tesla reported record earnings per share, annual revenue, production and deliveries - and sounded a warning on inflation.
The future belongs to electric vehicles, without question. But what kind of future they will bring, remains an open question.


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The internet use for the online marketplace or the eCommerce business is increasing with each passing day. The digital businesses operating in the digital environment are facing several challenges among which fraudulent transactions are major ones.
The fraudsters target online platforms to perform a variety of malevolent activities. They aim to access online user accounts and data. Through those, the financial, as well as customor information, is compromised that is further used for malicious and theft activities.
All enterprises and online merchants are adopting appropriate measures that could help them detect and prevent fraudulent activities. The online payment scams are increasing which includes a variety of high-scale financial frauds. These include money laundering, terrorist financing, and even the crypto exchanges and businesses are used to disguise the source of money.
The Process of ID verificationa and how it workds
These frauds include various stages that are complicated. The source, ownership, and identity are concealed in such a way that it gets complex for the system to identify the individuals. For this, merchants are now employing digital security measures that are linked to online identity verification.
The process of identity verification involves the verification of individuals through various methods. Digital identity verification can be done by identifying government-issued documents, biometrics, etc. It totally depends on the industrial niche.
For instance, the banking industry would require the Know Your Customer (KYC) verification of customers which requires documents. Similarly, the digital payment services providers can verify their customers through biometric identification based on facial recognition.
There are many types of online ID verification including facial verification, address validation, age verification, documentation authentication, 2-factor authentication, and consent verification.
Synthetic ID Theft
The lack of sufficient security measures in digital channels become the reason for synthetic identity theft. The fraudsters enter into the user accounts through credentials stuffing and other tricks and steal the information of users.
The identity theft information is then used to make fraudulent transactions over the network, impersonate people through phishing attacks, get illegal health benefits and certificates, get prizes, launder money, and many other criminal activities.
A study shows that online retailers are expected to lose about 130 billion dollars in digital ‘Card Not Present’ fraud between the years 2018 and 2023. The fraudsters also claim chargebacks that have two major reasons. One is that the fraudsters make transactions from the card of the same legal entity and the real owner claim that it was not made by him.
Hence the transaction is done by some bad actor. The second is that the children use the credit card of their parents to buy goods online without the permission of their parents. The parents then claim chargeback over it.
All this list of fraudulent activities can be mitigated by taking into consideration the appropriate actions and measures that could help reduce the risks of criminal activities.
The online merchant which are selling online services to their customers which need to be secured. As per the page on PayPal, “all the businesses that used to collect the credit card information of their customer to process their online payments are strictly required to:
- Protect the information of a cardholder
- Maintain a proper cyberattacks and vulnerability management program
- Implement strong customer authentication and control measures
- Build, maintain as well as take measures to secure the network in order to protect the card information
- Regular monitoring of transactions and risks assessment measures
- Maintain the policy for information security
These security measures could help online businesses reduce the risks of fraud and synthetic identity theft that could ultimately curb criminal activities. It is important to understand that online ID verification is the way forward for companies that want to secure their businesses efficiently. It not only helps them identify their clients but also adhere to the regulations of the financial regulatory authorities such as FATF, FinCEN, GDPR, etc.


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Tuesday Morning News
Ars Technica’s summary of what we’ll be seeing from Apple later this week includes a new iPhone and a new model of Apple Watch. They rate new Macs as an unlikely possibility, while iPads are much in the same boat. Software such as iOS 10 and macOS Sierra are expected to get release dates, if not outright releases at the event. Either way, I guess we’ll see in a few days.
A Vietnamese website claims it has used the new iPhone, saying the device features 4K video recording at 60 FPS and a SIM card tray that features a rubber seal. The rubber seal is presumably to aid the new iPhone’s rumoured water-resistance, with the site also saying that the new touch-sensitive home button still requires substantial force to activate. Without photos of the device, it’s hard to know how if the rumours are true or not.
A screenshot of an GeekBench report for a previously unknown iPhone model (the iPhone 9,3) suggests a 35% performance increase over the iPhone 6s. Note that GeekBench appears to mis-report the CPU speed due to iOS not reporting this directly to apps, and that the GeekBench benchmark only tests CPU and memory throughput.
Apple is no stranger to dongles. They currently offer 25 of short adapter cables, adapting Thunderbolt, Lightning, or even USB to other connection formats. What’s one more, when Apple releases a Lightning to 3.5mm headphone jack adapter next Thursday?
Owen Williams says you can pry the headphone jack from his cold dead hands, although I believe his post on Medium is more about the fallacies of Bluetooth as an imperfect wireless connection standard, rather than the inherent inconvenience of a mechanical connection that means you have to plug something in.
I was looking forwarding to Bragi’s panicked announcement almost as much as I’m looking forward to Apple’s, but unfortunately Bragi’s turned out to be much more tame than I was expecting. The Bragi Headphone is a new set of truly wireless earbuds, ones which ditch the activity-monitoring features for a bit more battery life (and a lower price) compared to Bragi’s previous offering, the Dash.
There’s a story about an ex-Apple engineer (one who worked on porting OS X to Intel processors) applying for and being denied for a job as a Genius at an Apple Store, which is part of a wider piece about age discrimination in the American workforce on the New York Times.
IMore writes that watchOS 3 is a big roll in the right direction, and I’m inclined to agree. Some may lament the loss of glances, but glances were always the stepping stone to apps — and now that apps actually load within useful timeframes, glances are no longer needed.
Macworld has a few ideas on how Apple could turn its next social experiment into a good one. It remains to be seen whether iMessage integrations will be as popular as Apple expects, but I’m getting ahead of myself — iOS 10 isn’t even out yet.
The story of the greatest tool ever is the story behind the first Mac. It’s also about how earlier interactions with Steve Jobs at Newsweek led to somewhat poorer ones, when Time wanted to make their own iPad app.


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East Med Cruise Sector Strong in 2015
3rd Posidonia Sea Tourism Forum Attracts Global Industry Interest
Posidonia Forum to host CLIA Europe Executive Committee Meeting
The East Mediterranean is gearing to increase its share of the cruise sector’s €40 billion annual contribution to Europe’s economy. According to industry representatives who will participate in the upcoming Posidonia Sea Tourism Forum, scheduled to be held on May 26-27 in Athens, 2015 brings the first positive news following the industry’s post Arab Spring deployment correction and a capacity increase with the introduction of new and larger vessels.
Senior executives from the world’s biggest and most prestigious cruise lines will be there to table the challenges the sector is facing in the Eastern Mediterranean, tackle long standing issues and try to turn trends to opportunities for the industry’s key players and the region’s port destinations.
Speakers include senior officials from Azamara Club Cruises, Celestyal Cruises (former Louis Cruises), Crystal Cruises, MSC Cruises, Royal Caribbean Cruises and more, who will gather in the Greek capital for this two-day event to meet industry officials from the region’s private sector, government bodies and regulatory authorities.
As Royal Caribbean Cruises’ representative Andreas Stylianopoulos, President & CEO, Navigator Travel said: “I am confident that the East Mediterranean will continue to recover as a cruising sub-region in spite of the fact that some of its strong destinations are still out of play. One important factor in the renewal of demand for East Mediterranean cruises is that Greece, as a tourist destination, has recently become very much in fashion worldwide. Sustainability in tourism requires a clear vision with farseeing strategies, constant nurturing with great attention to detail and of course, political stability coupled with consistent policy.”
His optimism is shared by Marco Digioia, Government Affairs Director of CLIA Europe. “We plan meetings with senior Greek government officials to discuss the potential for cruise growth in Greece and the East Med, the projected increase of deployment in the East Med for 2016, and to address current barriers to the growth of both cruise calls and home-porting in Greece,” said Digioia. On the occasion of the Posidonia Sea Tourism Forum, CLIA Europe will be holding its biannual Executive Committee Meeting in Athens, thereby showing the importance the region has for the cruise industry.
According to Theodore Vokos, Executive Director of Posidonia Exhibitions, the event’s organiser, Greece continues to enjoy a significant cruise presence with passenger calls reaching a total of 5 million in 2014. “Several Greek cruise ports are among the top ranking in Europe in absolute passenger visits and this, in combination with the emergence of new cruise ports in the region, will continue to provide cruise lines with a significant choice of exciting and lucrative destination options.”
The development of new potential homeports and ports of call in the region facilitates the additional European capacity coming online in 2015 with the delivery of vessels for TUI, Costa and P&O Cruises as well as the deployment of mega ships such as Anthem of the Seas, Allure of the Seas and Norwegian Epic. The positive news continues for 2016 and 2017 with new capacity from AIDA and MSC Cruises scheduled to join the Europe-based fleet.
More vessels trading in the region also means more business for suppliers to the sector, including food and beverage producers. With that in mind, some of the region’s local exporters of quality F&B products, processing manufacturers, wineries and gastronomic product specialists will participate in the European F&B Cruise Ship Supply Industry Workshop together with delegates and exhibitors, to network with key representatives from the Cruise Procurement and Supply sector.
The Posidonia Sea Tourism Forum’s exhibition is also the ideal platform for port destinations, port and regional authorities, chambers of commerce, airlines, tourist services providers and marinas to showcase their offering to influential international cruise industry decision makers.
The future of yachting in Greece and its potential contribution will also be debated at the Forum, together with issues relating to marina development and utilization. This year’s Forum will tackle the obstacles to further development of the industry in Greece, and its negative image and how this can change. Especially important will be the session on the regulatory environment of Mediterranean yachting, where the potential for a common strategic operational framework will be explored.
“We are delighted by the response we have received so far from the global and regional cruise and yacht sectors in terms of speakers, delegates and exhibitors for our Confex event. Delegates of the third edition of the Posidonia Sea Tourism Forum are in for two days of insightful, forward-looking deliberations that will hopefully lead to mutually beneficial networking opportunities, new business development, synergies and best practice and ideas exchange to help unlock the full potential of sea tourism for the Eastern Mediterranean region,” added Vokos.
The 3rd Posidonia Sea Tourism Forum is organised under the auspices of the Greek Ministry of Tourism, the Greek Ministry of Shipping, Maritime Affairs and the Aegean, the Hellenic Chamber of Shipping, the Greek Tourism Confederation (SETE), the Association of Mediterranean Cruise Ports (MEDCRUISE), the Hellenic Ports’ Association (ELIME), the Greek Marinas’ Association, the Association of Passenger Shipping Companies, the Union of Greek Ship Owners & Associated Members and the Hellenic Association of Travel & Tourism Agencies (HATTA).
Gold Sponsor is the Piraeus Port Authority, Silver Sponsor is Air France – KLM and Bronze Sponsor is Celestyal Cruises.
For more info please visit: http://www.posidoniaseatourism.com/
For additional information, press enquiries should be directed to:
Artemis Vamvacopoulou, Posidonia Press Officer, Extrovert Business Communication, tel. +30 210 6724265. email@example.com
Maria Photou, Marketing and Advertising Coordinator, tel.: +30 210 4283608, firstname.lastname@example.org


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Police in Florida said they have arrested a man accused of stealing a $1.29 Iced Honey Bun from a store by stuffing it down his pants.
Palm Bay police said Brandon Phillips, 18, stuffed the small snack down his sweatpants at a 7-Eleven store Dec. 28 and fled on a bicycle when confronted by a store manager, WKMG-TV, Orlando, reported Friday.
Investigators said a K-9 unit tracked Phillips to a wooded lot where he was arrested and his bike was found nearby.
The Honey Bun was not recovered, police said.
Phillips was charged with retail petit theft, resisting arrest without violence and resisting in the recovery of merchandise.
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BOSTON (MarketWatch) -- Shares of chemical-developer Pure Bioscience PURE, +0.00% soared over 25% on Tuesday, following news that the U.S. Environmental Protection Agency has cleared its silver-based disinfectant for use in food-packaging and processing settings. The product, which is considered virtually non-toxic to humans, will be marketed as a sanitizer for food preparation surfaces under the name IV-7 Ultimate Germ Defense for Food Contact Surfaces. Pure said the disinfectant can kill a wide variety of microbes, including E. coli, salmonella, listeria and MRSA. Shares of Pure were up 27% at $2.07.
Pure Bioscience soars on EPA nod


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Supermarket sales have increased by 3.6% compared with the same period last year, despite “disappointing” August weather, according to the latest grocery market share figures from Kantar Worldpanel for the 12 weeks to 10th September.
Marking the sixth consecutive month in which sales have increased more than 3%, supermarket sales were aided by a 1.5% increase in the volume of goods going through the tills, with the remainder of the overall sales uplift being put down to higher prices, according to Fraser McKevitt, head of retail and consumer insight at Kantar Worldpanel.
McKevitt commented: “We haven’t seen sustained market growth of this kind since May 2013.
“Like-for-like grocery inflation now stands at 3.2%, slightly ahead of the headline consumer price index rate and down 0.1 percentage points on last month. The average British household spends almost £4,200 in the grocers each year so a fall in inflation, which we expect to see as we approach the end of the year, will be a welcome relief.”
Lidl marked a 19.2% increase in the aforementioned period, taking its market share to a record high of 5.3%, up 0.7% on last year, with growth being particularly notable among fresh and chilled products.
What’s more, Aldi’s sales growth of 15.6% took its market share to 6.9%, with McKevitt noting: “Collectively Aldi and Lidl now account for nearly £1 in every £8 spent in Britain’s supermarkets – a decade ago this was only £1 in £25.
“In the past three months almost 63% of shoppers visited one of the two retailers, up from a level of 58.5% last year.”
However, 98% of households still shopped in at least one of the traditional ‘big four’ retailers over the same three-month period, with sales at Tesco being up 2.7% in the past 12 weeks, said McKevitt.
In addition, volume sales at Morrisons have been lifted for the first time since January, with sales of its premium ‘The Best’ line being up 38% year-on-year, making it the fastest growing premium range, according to Kantar Worldpanel.
Sainsbury’s market share fell 0.2% to 15.7%, while Asda has attracted an additional 482,000 shoppers through the tills compared with a year ago.


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Microsoft has announced today plans to make its Surface RT tablet available at retail stores as soon as mid-December, to take full advantage of the holiday season. In addition to the extension of sources where Surface tablets will be available for consumers to purchase, Microsoft will also turn several of the temporary stores that were opened for the Surface launch into permanent retail outlets.
Panos Panay, General Manager of Microsoft Surface had the following to comment on the announcement:
"The public reaction to Surface has been exciting to see. We’ve increased production and are expanding the ways in which customers can interact with, experience and purchase Surface."
Starting from mid-December, consumers will be able to purchase a Surface tablet loaded with Windows RT from retail stores in the US and Australia, with more countries being added in the coming months. This shows strong signs of progress for the company, attempting to push the product into as many hands as possible. Steve Schueler, corporate vice president, Microsoft Retail Sales and Marketing, continues:
"Our plan has been to expand the retail presence for Surface after the first of the year. Based on interest from retailers, we are giving them the option to carry Surface with Windows RT even earlier."
The hardware is currently available at Microsoft retail stores in the US and Canada, as well as online in Australia, China, France, Germany, and the UK (as well as the US and Canada). The company isn't looking to slow down with just the expansion of its stores and locations where is latest hardware is available as Microsoft has also been in talks with landlords to bring stores to Europe.
The Surface tablets have been restricted to a handful of markets, so it's positive to see Microsoft taking measures to increase productivity as well as availability worldwide.
Update: According to a report over at Yahoo!, Staples is one of the named retail chains that will be selling Surface tablets. The product will be available in stores and online as early as December 12th. Those who purchase a Surface RT tablet from Staples will receive free personalised training, free support and free startup for their new tablet. If you opt for the $699 model you'll be eligible for a free data transfer from an old PC.
We may earn a commission for purchases using our links. Learn more.


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OAKLAND, Calif. - The United States appears to be making progress in the battle against inflation, with the economy turning a 3.2% figure, the lowest in over two years.
Elevated inflation takes money out of Americans' pockets, while lower inflation rates put some money back in to those pockets.
In November 2020, inflation surged due to low unemployment and robust consumer spending spurred by state and federal stimulus programs.
By June 2022, the Consumer Price Index, driven by escalating food, shelter, and gas prices, had propelled inflation to 9.1%, marking a four-decade high.
For every $100 spent by consumers in November 2020, by the middle of 2022, the inflated price rose by $9.10 for the same goods and services. To cool inflation, the Federal Reserve increased interest rates, prompting reduced spending by consumers and businesses.
As of Tuesday, the October inflation rate stood at 3.2%, approaching the Federal Reserve's target of 2%. Sustaining high rates for a while longer is anticipated to further curtail inflation.
The family-owned Village Market in the Oakland hills, has a loyal customer base and many long-term employees.
Even patrons at the upscale market were rattled by inflation as it peaked.
"Just that everyone's making adjustments as to what they could buy and to feed their families," said Village Market manager and owner Keith Trimble.
The company absorbed much of the inflation, striving to balance employee payments and operational costs without overburdening customers.
While prices typically take longer to decrease than they did to rise, that may not be the case in the banking industry.
Some experts said prices could start to decline significantly from 2024 onward.
"I think they might hold their cards a little, sort of stay the course, which I think also bodes well," said shopper Alan Patten.
With slow economic growth expected in the coming year, some experts anticipate a 2% to 3% decline in interest rates.


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Under its new owner’s caring and skillful direction, Twitter is imploding. For quite some time, Facebook has been for old people. Instagram doesn’t seem to know what it’s about anymore. TikTok is getting banned left, right, and center. YouTube has become a distribution network for MrBeast alone. And now we have Threads.
Aside from its meteoric rise (100M users in a mere five days) – which, for the record, seemed to have slowed down – content and engagement on the platform seem to closely mimic what’s happening on Facebook. Which is to say – it’s not good. Given that Threads is built on the Instagram social graph and that Meta makes a lot of money through Instagram, it will be interesting to see how long Meta potentially wants to bleed money from Instagram into Threads. But that is a story for another day.
The real story for today is how all this, plus the impending implosion of search (see our recent Briefing on “Hello AI, Goodbye Search,” what all this will do to commerce (especially retail). Just last week, I spoke at NRF NEXUS, the leading industry event, where I sat down with Jason “Retailgeek” Goldberg, who shared the latest stats on retail, a $7.1 trillion dollar industry which grew 8.2% last year and a whopping 31% since the pre-pandemic 2019. Jason’s data shows that 61% of all purchases are digitally influenced, which is expected to rise to 70% soon.
Let this sink in for a moment and start connecting the dots. Data from one of our partners shows that the top 5% of Shopify stores generate 45% of their traffic through search. The top indie online merchants predominantly grew their market position through social and influencer marketing. And now – Search will give way to ChatGPT (and other AIs). Social is a mess that doesn’t seem to get much better anytime soon. Large retailers, like Amazon and Walmart, have tens to hundreds of millions of apps installed on phones – thus giving them a direct line to their consumers. Anybody else – not so much… It’s going to be a wild ride for a while while we figure out how the new world will work (and doesn’t). (via Pascal)


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The Super Week continues Thursday at 4!
The Diablo like Free-to-play from Grinding Gear Games expands
Death will be a month late
It's Christmas in March
Two free new maps
The dogs are out
Will we have to wait eleven months?
While waiting for Reaper of Souls
PS3 / PS4 / PC versions only
Fire Walk With Me
A Tropico summer
The cards are on the table
Some new visual effects and mana scaling!
Nathan Drake looks set to be disappointed
The crime where you are the hero
The Blizzard team mix it up on Dragon Shire
The name changes, the playes stay the same
A glimpse of what is in store


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In December, consumer prices increased 0.8% over the previous month, following the flat reading recorded in November. Increasing prices for transport (+4.0% month-on-month) as well as for food and alcoholic beverages (+1.2% mom) were the main drivers behind the monthly price increase. As a result of the monthly price increase, annual headline inflation jumped from 2.7% in November to 3.8% in December. Meanwhile, annual average harmonised inflation stepped up from November's 1.0% to 1.2%, marking a third consecutive increase and matching Central Bank expectations for the full year 2010. The Central Bank expects harmonised inflation to average 2.3% in 2011.
Inflation jumps in December
January 11, 2011
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Lithuania Economic News
October 10, 2016
Consumer prices in Lithuania rose 0.6% in September from the previous month, which contrasted the 0.5% drop in August.
September 21, 2016
In August, Lithuania’s industrial production rose 1.6% over the same month last year.
September 8, 2016
Consumer prices fell 0.5% over the previous month in August, which was slightly above July’s 0.7% drop.
August 30, 2016
GDP rose 1.9% in annual terms in Q2, according to detailed data released by the National Statistics Office on 30 August.
August 22, 2016
In July, Lithuania’s industrial production decreased 3.8% over the same month last year.


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A recent survey by Capgemini has revealed that over 75% of consumers expect their interactions to be influenced by the metaverse. What does this mean for consumers and the metaverse?
If you’re curious about the potential impact of the metaverse on the way we interact with brands and individuals, you’re not alone. According to a new survey by Capgemini, over three-quarters of consumers expect their interactions to be impacted by the metaverse.
The survey, which surveyed 8,000 consumers and 1,000 organizations across 12 countries and different sectors, found that 93% of consumers are curious about the metaverse, with 51% saying they would utilize it once the technology becomes more available for them.
Charlton Monsanto, the global immersive experiences offer leader at Capgemini, said the “consumer-facing metaverse” needs to address the challenges of accessibility and privacy in order to move forward.
In recent years, development in the metaverse has seen a rise in events that allow people to connect with one another, such as festivals and concerts. Entire nations have even begun using the metaverse to preserve their heritage for future communities to interact with.
Just last week, metaverse developer Animoca Brands announced they would open up a billion-dollar metaverse development fund for startups in the space. So if you’re curious about the potential of the metaverse, you’re not alone – and it looks like we’ll be seeing a lot more of it in the future.
What is the Metaverse?
But what is the metaverse, and why are so many people interested in it? The metaverse is a virtual world that allows users to interact with each other and with virtual objects and environments in a seamless and immersive way. It’s like a mix of video games, virtual reality, and social media, all rolled into one.
The term “metaverse” was first coined in Neal Stephenson’s 1992 novel Snow Crash, where it referred to a virtual world where people could interact with each other and with virtual objects in real time. Since then, the concept of the metaverse has evolved and expanded, and today it encompasses a wide range of technologies and applications.
One of the key features of the metaverse is its ability to provide a seamless and immersive experience for users. In the metaverse, users can interact with each other and with virtual objects and environments in real-time, using virtual reality (VR) and augmented reality (AR) technologies. This allows users to explore virtual worlds and engage in various activities, from gaming and socializing to shopping and entertainment.
However, despite the hype and excitement surrounding the metaverse, it is important to recognize that it is still in its early stages of development. Many of the technologies and applications that are being developed for the metaverse are still experimental, and there are a number of challenges and obstacles that need to be overcome before they can truly become a reality.
One of the biggest challenges facing the metaverse is the issue of accessibility. Currently, the technology required to access and interact with the metaverse is expensive and difficult to use, which makes it inaccessible to many people. In addition, the lack of standardization and interoperability among different metaverse platforms means that it can be difficult for users to move between different virtual worlds and environments, which limits the potential of the metaverse.
In conclusion, the metaverse is a rapidly growing area of technology that has the potential to transform the way we interact with each other and with virtual environments. The potential of the metaverse is vast, and it’s likely that we’ll see more and more people using it as it becomes more accessible and user-friendly.
Edmond is a passionate writer for Video games, GameFi and Web3. He has worked for top GameFi companies and video game/crypto news websites.


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March 1, 2013: The lead-acid battery industry has the opportunity to become a major player in the market for 48-volt automotive systems, according to Chip Bremer, marketing and communications manager for the Advanced Lead Acid Battery Consortium.
His comments follow the ALABC’s recent showcase of three hybrid electric concept vehicles at the Advanced Automotive Battery Conference (AABC Europe 2015) held in Germany in January.
The vehicles resulted from ALABC’s R&D programme, which aims to demonstrate the potential of lead-carbon batteries in 48V architectures. The models on display were the 48V LC SuperHybrid; the 48V Kia Optima T-Hybrid; and the ADEPT 48V.
“We’ve shown here that these lead-carbon batteries can not only meet the requirements for these systems, but also provide automakers a cost-effective option for low-emission, turbo-powered performance at that voltage,” Bremer says.
“The fact that two OEMs, Ford and Kia/Hyundai, have assisted directly with these projects, and even more automakers are showing interest in similar ventures, is a big deal for lead-acid battery producers. For years, we’ve been helping to evolve the lead-acid battery into a high-performance energy storage device capable of operating in high-rate partial state-of-charge duty yet still remain cost-effective and highly recyclable. Today, we’ve brought the technology to a point where it can meet the demands of the ever-changing energy storage marketplace, and now that automakers are starting to take notice, the lead battery industry is poised to see considerable gains in areas where other battery chemistries have assumed a significant presence.”
ALABC European project coordinator Allan Cooper says the concept of 48-volt mild hybrid powertrains is attracting interest from automakers because they are working to lower CO2 emissions by increased electrification of the powertrain as opportunities for achieving still more fuel efficient engines diminish.
“The problem is, while needing to reduce emissions, it is necessary to keep production at a relatively low cost,” he says. “Right now, we believe the best way to achieve that is with a modified micro/mild-hybrid powertrain powered by advanced lead-carbon batteries — just like the ones we put on display.
“The ALABC feels privileged to be working with Hyundai and Ford, as well as our other partners, in evaluating these lead carbon batteries and other essential components in these vehicles.”
According to Cooper, the 48V demonstrators solve some of the problems with making 48V low-emission systems appealing to the general consumer. “By downsizing and down-speeding the engine to reduce CO2 emissions, you significantly reduce the vehicle’s performance, making it less ‘fun to drive’,” he said.


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- Drew Seeley released a new holiday song, “I’ve Got Love To Keep Me Warm”
- Selena Gomez will launch her official site in 2009
- Taylor Swift tops MTV’s list of Breakout Stars of 2008
- Zac Efron is a Hebrew hottie
- Dancer Mark Ballas just has no luck on dancing tours it seems. After suffering a groin injury, he’ll have to sit out a couple of weeks on the 2008-2009 Dancing with the Stars tour. Mark had a shoulder injury during last year’s tour.
- Miranda Cosgrove recently stated that the best gift she’d ever gotten for Christmas as a Go-Kart. This year she wanted a Nintendo Wii.
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Man jailed for stealing charity box
- Credit: Avon and Somerset Constabulary.
A WESTON man has been jailed for more than a year after stealing jewellery, clothes and a charity box which was raising cash for British soldiers.
David Gilpin of Wilson Gardens pleaded guilty on Monday at Bristol Crown Court to a burglary charge after taking the items from a store in the North Worle Shopping Centre.
The incident occurred on January 12 where 25-year-old Gilpin caused thousands of pounds worth of damage and stole a Help For Heroes box which contained £25.
He was sentenced to 13 months in prison and ordered to pay an £85 victim surcharge.


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PUBLISHED July 16th, 2020 08:00 am | UPDATED July 27th, 2020 06:26 pm
Nursing a bad case of wanderlust? So are we. But even as plans for travel bubbles are floated all over the world, many countries are seeing second and third waves of the pandemic, so an overseas trip might not be on the cards till the very end of the year. However, the plane flight over is set to be a whole new (and less cushy) experience – from soaring fares to scrapped inflight meals and lengthier waiting times. We’ve already taken a sneak peek at how your hotel stay might look – here’s what we foresee for the future of air travel.
We all dread being stuck in the middle seat – and in this brave new world of social distancing, the middle seat might be permanently blocked out. More armrest comfort, though, will come at a literal price. The International Air Transport Association (IATA) projects that if forced to limit seat capacity to around 60%, airlines can only break even through raising airfares by 43%–54%. And that’s not even factoring in increased cleaning costs, which may or may not be passed on to travellers.
Here’s the silver lining, though: in the short run, the IATA expects fares to stay low. As international travel takes off post-pandemic, airlines will initially need to woo back flyers wary about safety issues. What better way to do that than a seat sale?
Fewer Flight Options
Airlines round the world have been bleeding billions during this crisis, and those that manage to stay aloft will have to fly lean. This means lower frequency of flights to choose from as well as fewer flight routes, especially for less money-spinning destinations. Possible routes in jeopardy include marginal ones like London-New Orleans and Amsterdam-Salt Lake City, according to air transport management lecturer Volodymyr Bilotkach.
Closer To Home
While lockdown has had us dreaming of a grand European escape, that won’t be in our stars anytime soon. The IATA predicts that average trip lengths will plunge during the next couple of years – unsurprising given the one-two punch of travellers’ safety worries and international restrictions.
Across the Asia Pacific, ‘travel bubbles‘ are the new buzzword, with Singapore already in talks with regional partners like China, Malaysia, and South Korea. Meanwhile, Europe is setting up green lanes within the region, with Baltic neighbours Estonia, Latvia, and Lithuania among the first to open their borders within themselves. All this means that our jetsetting adventures will have to stay closer to home for now.
Sanitize, Sanitize, Sanitize
One thing’s for sure: never has air travel been so squeaky clean. Emirates’ sanitization playbook offers an exemplary look at the future of safe travel – check-in desks fitted with antimicrobial screens, thermal scanners to screen your temperature, and complimentary hygiene kits packed with wipes and gloves. Once on board, you’ll find cabins fitted with HEPA filters to remove viruses and allergens from the air. Your cabin crew will be dressed to the nines in Personal Protective Equipment (PPE), with assistants dedicated to disinfecting the toilets.
Get Ready to Wait
With all these levels of sanitization, it’s no surprise that our usual airport drill is set to become a lengthy one. Forbes estimates suggest that the future check-in process could take up to four hours, thanks to the need to disinfect travellers and their luggage, to board and deplane passengers in smaller groups, and so forth. With more deep cleaning needed, there’ll certainly be slower turnarounds between flights as well. Of course, we’ll only feel the full force of this when air travel really picks up – in the short run, the very few willing to travel can breeze right through.
Fewer Creature Comforts
Bad news for the premium passengers: exclusive lounges might be a rarity in our post-pandemic world. In a cost-cutting move, Singapore Airlines has temporarily closed all its first-class lounges in Changi Airport, along with all its 13 overseas SilverKris lounges. Other brands have done the same, including Star Alliance and Cathay Pacific.
Our in-flight experience looks set to be a tad less cushy as well. Singapore Airlines has announced that snack bags will replace meal services for all flights within Southeast Asia and to China; for other destinations, meal services have been simplified. Scoot has similarly discontinued food and beverage services to reduce physical contact, along with in-flight seat upgrades and duty-free shopping. But hey, if that’s the price to pay for seeing the world again, we’d happily take it.


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IGN admired Final Fantasy Type-0 -- which was revealed for PS4 and Xbox One at E3 2014 -- earlier this year for its action elements and dark, mature tone.
Square Enix has yet to announce release timing for FFXV. You can find more for more on Final Fantasy and all things Japanese games on IGN Tokyo Game Show 2014 Hub.
Mitch Dyer is an associate editor at IGN. He hosts IGN Arena, a podcast about MOBAs, and is trying to read more. Here's his reading list. Talk to Mitch about books, Dota 2, and other stuff on Twitter at @MitchyD and subscribe to MitchyD on Twitch.
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By Sally Squires
Tuesday, October 2, 2007
Many people live to eat, but what if you could eat to live?
That's the idea behind using foods -- from avocados, barley and beans to nuts, oatmeal and soy -- to control the high blood pressure and elevated cholesterol levels that are ticking time bombs for heart disease.
Diet is proving to be a powerful weapon that can rival the effectiveness of many medications. Plus, food comes with other benefits: It costs less than most drugs, has no dangerous side effects and, of course, includes the pleasurable act of eating.
Take the Dietary Approaches to Stop Hypertension (DASH) Diet, developed by the National Heart, Lung, and Blood Institute. DASH is rich in fruit, vegetables, beans and whole grains. It includes lean meat, skinless poultry and fish, as well as low-fat and nonfat dairy products. Nuts, olives and healthy oils, including olive and soft margarine, are important ingredients in DASH.
Sodium intake is also reduced on DASH. Americans consume an average 3,375 milligrams of sodium daily, according to the National Health and Nutrition Examination Survey. But a recent study comparing three levels of sodium intake, ranging from 1,200 milligrams daily to 3,300 milligrams with the DASH diet, found that 2,300 milligrams was most acceptable to participants.
As for lowering blood pressure, research shows that following DASH for 30 days cut systolic blood pressure -- the pressure during heartbeats -- by an average of 12 millimeters of mercury, an accomplishment that rivals many blood pressure medications.
Smart food choices can also have a big effect on cutting blood cholesterol. The National Cholesterol Education Program, the American Heart Association and the American College of Cardiology have long advised consumers to reduce the amount of unhealthy saturated fat, trans fat and cholesterol in their diets.
A few doctors go farther. California physician Dean Ornish, the Cleveland Clinic's Caldwell Esselstyn and Neal Barnard of the Physicians Committee for Responsible Medicine advocate a vegetarian diet to lower low-density lipoprotein (LDL), the so-called bad cholesterol, and help reverse blocked arteries. (Recent research suggests that this approach can also help control and sometimes reverse Type 2 diabetes.)
At the University of Toronto, David Jenkins, professor of nutrition and metabolism, and his colleagues have assembled a portfolio of foods that lower blood cholesterol a little. Subbing them for less healthful foods lowered cholesterol by as much as 30 percent, equal to the effects of some statin drugs.
This mostly vegetarian "Portfolio" plan includes plenty of fruit, vegetables and fiber-rich foods, including oatmeal, beans, whole-grain bread, cereal and pasta. Soy is another important ingredient, as are nuts.
Foods fortified with plant substances called stanols and sterols are also key to the Portfolio plan. In the intestines, plant stanols and sterols compete with dietary cholesterol for absorption. Eating two grams per day can help lower LDL by 6 to 15 percent.
Among the foods now fortified with stanols and sterols are some margarine (Take Control, Benecol and Smart Balance); orange juice (Minute Maid Heartwise), granola bars (Nature Valley Healthy Heart), cereal (Health Valley Heartwise), a smoothie-like drink (Promise Activ Super Shot) and chocolate (Cocoa Via.)
Cutting blood cholesterol levels used to mean eating very little fat -- and missing out on a lot of flavor. But the Portfolio approach proves otherwise. In a year-long study, participants ate a moderate-fat diet, with 30 percent of daily calories as fat. Nearly all of it came from healthy sources such as olive oil, avocados and nuts. (Participants ate about two ounces of nuts daily.)
Trouble is that none of these dietary approaches works for everyone. Body weight seems to be what separates those who respond well from those who don't. Overweight and obese people -- that is, those with a body mass index of 25 or higher -- get about half the cholesterol-lowering response from changes in diet as those at a healthy weight, says Penny Kris-Etherton, professor of nutrition at Pennsylvania State University.
The difference may result from C-reactive protein, a substance whose levels rise as inflammation occurs inside the body. Dubbed "a fire within" the body, this inflammation is caused by obesity, arthritis, inflammatory bowel disease, Type 2 diabetes, insulin resistance and gum disease, among other triggers. C-reactive protein levels appear to raise heart disease risk by promoting plaque buildup within artery walls.
As levels of C-reactive protein increase, foods lose their ability to lower blood cholesterol, as Kris-Etherton plans to report today at the annual meeting of the American Dietetics Association in Philadelphia.
How to combat that? Perhaps by adding more fiber to the diet. A study based on the National Health and Nutrition Examination Survey found that the higher the fiber intake, the lower the blood levels of C-reactive protein in people of all ages and health conditions.
Also, skip foods with processed white flour and added sugar. Research shows those foods can raise C-reactive protein levels, particularly in women.
Weight loss and more physical activity are other strategies. Both cut C-reactive protein levels in men and women. So did following a high-fiber DASH diet, suggesting yet again new ways to eat to live.


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The prospect of unearthing hidden artefacts is luring metal detecting tourists from America to pay thousands of pounds to join treasure hunting tours of Norfolk.
Owners of some of the most remarkable homes in East Anglia share their halls, farmhouses, moated manors or towers with visitors as part of Invitation to View 2019.
Ten years ago Woolworths stores across the UK shut down, with branches in towns across Norfolk replaced by discount retailers and fast-food restaurants like Poundland and McDonalds.
An Anglo-Saxon gold treasure unearthed by a student while metal-detecting in Norfolk has been named the UK’s museum acquisition of the year in a national poll.
“History from the bottom up” - this is how an archive editor at Archant has described the company’s project to digitise 150 years of its stories.
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New Delhi: Snapchat’s photo messaging application has seen significant growth in Indian business, and its daily active user base (DAU) in the country has jumped 120 percent year-on-year in March 2020, a senior company executive said.
Speaking to PTI, Managing Director of Snap Inc. (International Market) Nana Murugesan said the company had expanded its team in India, which focused on developing products that were culturally relevant, community involvement and partnerships.
“We have seen significant user growth in India with a 120 percent increase in our daily active users, compared to March last year to March this year. We have added new functions to the Indian team at our Mumbai office, with our first employee hired on the strategy team and partnerships, the sales and creative strategy team, and currently recruiting our content team, “he said.
Snap is the holding company of Snapchat. This application allows users to share photos with friends for a certain period of time after the content is lost. It offers filters and lenses, many of which are augmented reality. More than an average of 4 billion Locked is created by users every day in the March 2020 quarter.
It has 229 million active daily users at the end of the March 2020 quarter, an increase of 39 million or 20 percent year-on-year. The company did not disclose the country-specific user base.
“Our team in India continues to focus on developing culturally relevant products, creative tools, community involvement and partnerships. Over the past six months, we have launched support in five more languages, introducing creative tools to celebrate moments and festivals culture, celebrities onboard celebrities like Taapsee Pannu as Snap Star, adding more Official Lens Creators and partnering with local media brands, advertisers, OEMs and Telco, “Murugesan said.
Throughout its initiatives, augmented reality remains the fundamental way used by users in India, he added.
“We are very pleased to host our first Lensathon in partnership with Skillenza to reach more than five lakh developers in India. We see this as a big step forward in democratizing creativity, building the future of AR with our community and providing even more experience interesting, relevant for Snapchatters, “he said.
Lensathon is an online hackathon by Snapchat in partnership with Skillenza, where participants create an interesting lens and AR experience using Lens Studio by Snap. They will have the opportunity to be part of the Official Lens Creation program along with other cash prizes, Snap Glasses etc.
Last year, the company held 11 Lens Studio workshops at colleges and universities in India. After the COVID-19 pandemic, these sessions were held virtually with the Pearl Academy, ISDI, Pune Symbiosis, Thapar Institute of Technology, Manipal Institute of Technology, SRM Institute, and the Goenka Deviprasad College of Media Management Studies.
This story has been published from a wire agent feed without modification to the text. Only the headline has been changed.
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DuPont Trade Secrets to China – On March 5, 2014, a federal jury in the Northern District of California found two individuals and one company guilty of economic espionage, theft of trade secrets, bankruptcy fraud, tax evasion, and obstruction of justice for their roles in a long-running effort to obtain U.S. trade secrets for the benefit of companies controlled by the government of the People’s Republic of China (PRC).
The jury found that Walter Lian-Heen Liew (aka Liu Yuanxuan), his company, USA Performance Technology, Inc. (USAPTI), and Robert Maegerle conspired to steal trade secrets and commit economic espionage from E.I. du Pont de Nemours & Company (DuPont) regarding their chloride-route titanium dioxide production technology and sold those secrets for large sums of money to state-owned companies of the PRC. The purpose of their conspiracy was to help those companies develop large-scale chloride-route titanium dioxide production capability in the PRC, including a planned 100,000-ton titanium dioxide factory in Chongqing. This case marks the first jury conviction for economic espionage (18 U.S.C. Section 1831). Liew was convicted of conspiracy to commit economic espionage, conspiracy to commit theft of trade secrets, attempted economic espionage, attempted theft of trade secrets, possession of trade secrets, conveying trade secrets, conspiracy to obstruct justice, witness tampering, conspiracy to tamper with evidence, false statements, filing false tax returns for USAPTI and Performance Group, a predecessor company to USAPTI, and false statements and oaths in bankruptcy proceedings.
Liew was an owner and president of USAPTI, a company headquartered in Oakland, Calif., that offered consulting services. USAPTI was found guilty of conspiracy to commit economic espionage, conspiracy to commit theft of trade secrets, attempted economic espionage, attempted theft of trade secrets, possession of trade secrets, conveying trade secrets, and conspiracy to obstruct justice. Evidence at trial showed that in the 1990s, Liew met with the government of the PRC and was informed that the PRC had prioritized the development of chloride-route titanium dioxide (TiO2) technology.
TiO2 is a commercially valuable white pigment with numerous uses, including coloring paint, plastics, and paper. DuPont’s TiO2 chloride-route process also produces titanium tetrachloride, a material with military and aerospace uses. Liew was aware that DuPont had developed industry leading TiO2 technology over many years of research and development and assembled a team of former DuPont employees, including Maegerle, to assist him in his efforts to convey DuPont’s TiO2 technology to entities in the PRC. Liew executed contracts with state-owned entities of the PRC for chloride-route TiO2 projects that relied on the transfer of illegally obtained DuPont technology. Liew, Maegerle, and USAPTI obtained and sold DuPont’s TiO2 trade secret to the Pangang Group companies for more than $20 million. Maegerle was convicted of conspiracy to commit theft of trade secrets, attempted theft of trade secrets, conveying trade secrets, and conspiracy to obstruct justice. Evidence at trial showed that Maegerle was employed by DuPont as an engineer from 1956 to 1991 where he had developed detailed knowledge of DuPont’s TiO2 technology and expertise in building TiO2 production lines. He also had access to DuPont TiO2 trade secrets, including specific information regarding DuPont’s TiO2 facility at Kuan Yin, Taiwan. He provided these trade secrets to Liew and USAPTI in furtherance of their contracts with state-owned companies of the PRC for chloride-route TiO2 projects. Liew, Maegerle, and USAPTI’s obstructing justice convictions stem from causing an answer to be filed in a federal civil lawsuit in which they falsely claimed that no information from DuPont’s Kuan Yin plant was used in the USAPTI designs for the development of TiO2 manufacturing facilities. Liew’s witness tampering conviction stems from his efforts to influence a co-defendant’s testimony in the civil lawsuit. The jury also convicted Liew of conspiring with his wife, Christina Hong Qiao Liew (aka Qiao Hong) who was charged in the second superseding indictment, to mislead the FBI by corruptly concealing records, documents, and other objects during the FBI’s investigation into their criminal activity. Liew, as co-owner of USAPTI, entered into contracts worth in excess of $20 million to convey TiO2 trade secret technology to Pangang Group companies. Liew and his wife received millions of dollars of proceeds from these contracts. The proceeds were wired through the United States, Singapore, and ultimately back into several bank accounts in the PRC in the names of relatives of Christina Liew. DuPont is a company based in Wilmington, Del., that manufactures a wide variety of products, including TiO2. DuPont invented the chloride-route process for manufacturing TiO2 in the late-1940s and since then has invested heavily in research and development to improve that production process. The global titanium dioxide market has been valued at roughly $12 billion per year, and DuPont has the largest share of that market. The chloride-route process is cleaner, more efficient, and produces a higher-quality product than the sulfate-route process prevalent in the PRC. The object of the defendants’ conspiracy was to convey DuPont’s secret chloride-route technology to the PRC companies for the purpose of building modern TiO2 production facilities in the PRC without investing in time-consuming, costly research and development. The second superseding indictment charged Christina Liew, Tze Chao (aka Zhao Zhi) and Hou Shengdong each with conspiracy to commit economic espionage. Ms. Liew was also charged with conspiracy to commit theft of trade secrets, attempted theft of trade secrets, possession of trade secrets, witness tampering, conspiracy to tamper with evidence, and false statements. The charges against Ms. Liew were severed from those against Walter Liew, Maegerle, and USAPTI. Ms. Liew is still awaiting trial. Chao, a former DuPont employee, pleaded guilty to conspiracy to commit economic espionage on March 1, 2012. Hou, the Vice Director of the Chloride Process TiO2 Project Department for the Pangang Group, was also charged with conspiracy to commit theft of trade secrets, and attempted economic espionage. He is currently a fugitive. Charges of conspiracy to commit economic espionage, conspiracy to commit theft of trade secrets, and attempted economic espionage are also pending against the four PRC state-owned companies charged in the second superseding indictment. This case was investigated by the FBI and the IRS Criminal Investigation.


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Idaho regulators are anticipating making further decreases in the retail charges for natural gas in the state as they currently circulate for public comments a filing by Intermountain Gas Co. to cut retail charges by 5.3%, effective Oct. 1.
Intermountain made its request in a filing to the Idaho Public Utilities Commission earlier in August, seeking changes downward in its annual purchased gas cost adjustment (PGA) to reflect the lower wholesale gas supply prices it has been paying since that part of the retail rates were adjusted last year.
In Oregon the latest gas statistics paint a similar picture. Even before the 2008 nationwide economic recession, Oregon gas sales had begun a slide that continued for at least two years, according to energy statistics for 2010 that were released Friday by the state’s Public Utility Commission (PUC).
A 10-year summary of the annual revenue and throughput for the state’s three major natural gas investor-owned utilities (IOU) show steady declines during the past five years following all time peak levels of gas sales in 2005.
In Idaho, Intermountain proposes to lower its revenue requirement by $14.4 million, or an average of 5.3%, on Oct. 1, dropping its weighted average cost of gas (WACOG) from 49.2 cents/th to 45.3 cents/th. Intermountain cited “continued weakness in the regional and national economies” as putting downward pressure on new customer growth and weather adjusted demand for gas.
“At the same time, natural gas supplies are ample and the U.S. dry gas production is at an all-time high,” said the utility, reiterating that robust supply combined with flat demand has kept gas prices “relatively lows.”
The latest request for a retail gas rate decrease in the region comes within days of the Northwest Power and Conservation Council (NPCC) reporting what its experts called “a fundamental shift” in the North American natural gas outlook, driven by the shale boom. NPCC said the shift promises to keep wholesale prices low for a long time to come.
In less than a year since NPCC revised its long-term power plan significant changes have occurred that the council’s staff thinks can “fundamentally alter” an array of expectations in the gas and power sectors.
The Idaho PUC said that Intermountain has attributed its PGA shift to supplies of natural gas nationwide continuing to “remain strong with production at an all-time high.”
Last year Oregon’s three gas IOUs collectively accounted for 782 million therms of gas delivered and overall sales of $905 million. Both numbers are far below the peak levels established in 2005 — 922 million therms and more than $1 billion in sales for five consecutive years until 2010.
NW Natural is by far the largest of three gas distribution utilities, accounting for 75% of all gas sales in the state last year and 82% of all gas therms delivered to end-users. The PUC publishes the annualized statistics as part of its “Statistics Book” summarizing annualized statistics on the four main industries it regulates — gas, electric, water and telecommunications.
While the sales and therm figures have been declining, the average number of gas IOU customers has increased from 690,918 in 2005 to 760,886 last year, the Oregon PUC report showed.
Spokane, WA-based Avista peaked in Oregon in 2008 with $195.6 million in gas sales and 88.8 million therms, compared with 2010 totals of $155.2 million and 78.5 million therms, respectively. Kennewick, WA-based Cascade peaked for sales in 2008 ($104 million) and for therms in 2007 (87.5 million therms), compared with its 2010 totals of $73.8 million in sales on 69.2 million therms delivered in Oregon.
It was 2007 for NW Natural’s sales peak ($896.4 million) and 2005 for its peak in therms delivered (755.2 million therms). Last year, however, the Portland, OR-based gas-only utility recorded $676.2 million in sales on 634.7 therms delivered.
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Toyota announced today the nationwide launch in Japan of the “Corolla Rumion”, a new compact hatchback.The Corolla Rumion, designed under the theme of “Relax in Style”, maintains the basic performance for which..
RM-A4000 from RWC Co. Ltd. Japan is a simplified car navigation equipment for motorcycles. The RM-A4000 has water spray resistance equivalent to JIS 3rd class (IPX3). It has a 3.5-inch digital LCD..
Nissan today unveiled the Pivo 2, an advanced electric concept car that will debut at the upcoming Tokyo Motor Show.Nissan Pivo 2 builds on the popularity of the first Pivo, shown at..
Panasonic developed an omni-directional display camera system that can display the periphery of a vehicle as if the image was shot from above. The system is designed to notify the driver of..
NEC Electronics today unveiled NaviEngine , the industry’s most powerful single-chip system LSI solution optimized for car navigation systems. Based on four high-speed CPU cores using the ARM MPCore technology with symmetric..
Denso has developed the world’s first refrigeration cycle system for passenger vehicles that uses an ejector. The system is used for both an air conditioner and cooler box (vehicle refrigerator). By using..
The IS F is a Lexus “F” premium sports car based on the concept of proposing a new level of performance for Lexus through a refinement of basic performance with the addition..
Honda has developed a new automatic transmission system for motorcycles using Honda’s own infinitely variable hydraulic mechanical transmission- the Human-Friendly Transmission (HFT). Easy to operate, the HFT realizes outstanding relaxed riding comfort,..
Epson Toyocom has developed a new pre-tilted gyro-sensor that can be installed in car navigation systems. As the latest addition to the XV-8000 series, the XV-8000LK is ideal for dead reckoning, a..


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MOTORCYCLE sales went from bad to worse in 2017, with December showing the biggest decline in what was already looking like a dismal year.
Figures from the Motorcycle Industry Association (MCIA) show total new motorcycles registrations – the best indication of sales – were down 51.3% in December compared to the same month in 2016.
It’s the biggest year-on-year decline of any month in 2017 and also pushed overall sales performance for the year to its lowest point.
The figures show year-to-date sales – that’s the number for motorcycles sold since the beginning of 2017 – were down 18.5% compared to the year before. It represents 22,000 fewer motorcycles sold in 2017 than 2016, at 96,943 compared 118,976.
Year-to-date sales have been down throughout 2017 but the decline has become sharper since July, when it was 13.3%.
Those figures don’t include mopeds, sales of which were down 59.1% in December and 11.6% for the year.
The Motorcycle Industry Association pointed to the introduction of new emission limits as a contributor to the decline in registrations, along with the effect of Brexit on consumer confidence.
December 2016 was the deadline to register machines not meeting the latest Euro4 emission limits, meaning some will have been pre-registered by dealers that month to sell in 2017. As those machines were sold last year, they would not have contributed to the latest registration figures.
MCIA CEO Tony Campbell said the long-term market trend remained positive.
He said: 'Phasing out Euro3 for new bikes definitely caused a distortion in the market. We estimate between 12,000 and 15,000 extra new machines were registered in 2016 to meet the December 31 deadline and that in a normal market, these would have been registered during 2017. This was particularly evident in December. Uncertainty around Brexit may also have affected consumer confidence, but the long term indicators for motorcycle and scooter use are good.
'Government tables show that the number of powered two wheelers registered for the road has been steadily increasing and you have to go back to the peak of 2009 to find higher numbers. The number of people taking motorcycle tests has also been going up annually for the past four years.'


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This article TSLA
Elon Musk, CEO of Tesla Motors, unveils a Tesla Energy battery to businesses and utilities during an event held in Hawthorne (Calif.), April 30, 2015. Patrick T. Fallon | Reuters
According to a request filed by Tesla this month with Texas' Public Utility Commission, the company wants to sell electricity directly. This application was filed after Tesla began a large battery build in Angleton (near Houston), and where it plans to connect a 100-MW energy storage system to its grid. Texas Monthly first reported the application submitted by Tesla Energy Ventures, a wholly-owned subsidiary. Tesla also has several utility-scale energy storage units around the globe. One is located east of Los Angeles. Another is in Monterey, California. Two are in Australia, one in Geelong (Victoria) and one in Adelaide, South Australia. Tesla is not the retailer electricity provider for these systems. Tesla's large batteries are used to support other companies in energy storage, generation and consumption. In February, Texas was hit by a cold snap that left millions without power and water for several days.
Initial blame was given by some officials to the intermittent nature renewable energy. However, the state still relies heavily on fossil fuels. Later, it was discovered that regulators and state legislators, including the Texas Railroad Commission and the Public Utilities Commission, had either ignored or softened the requirements to fix and prevent further vulnerabilities in Texas' electric grid. Experts had recommended that weatherproofing facilities be built and that turbines with proper insulation and heaters are used to produce power. Because Texas is an isolated state, power transmission from the rest of the United States was inaccessible to those who were stuck in the cold. The Texas grid is managed instead by the Electric Reliability Council of Texas (or ERCOT), a non-profit group that schedules electricity flow to over 25 million Texas households. Elon Musk, Tesla CEO, took aim at ERCOT during the Texas blackout, posting that it was "not earning that" R. Musk's name wasn't listed on the Tesla Energy Ventures application. Ana Stewart, Tesla's director for regulatory credit trading, is at the helm of this subsidiary. CNBC previously reported that Musk's solar panel and electric car company has been able increase its margins through green credit sales over the years. In the second quarter 2020, for example, regulatory credit sales exceeded the company's free liquidity flow, and was more than four times Tesla’s $104 million net profit.


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Independent News & Media will hold a seminar on IT security by discussing issues relating to risk awareness, privacy and the recently introduced GDPR at the third annual Dublin Information Sec 2018 in the RDS Concert Hall on Monday, October 15. The keynote speaker is Mikko Hypponen, an international expert on computer security and online privacy.
Hypponen is credited with tracking down the authors of the first PC virus and is chief research officer at cyber security company F-Secure. Cliona Carroll, sponsorship and events manager, INM, said they were delighted to have OneTrust, a global leader in privacy management and marketing compliance software, as the event’s first gold sponsor.
Other speakers at Dublin Information Sec 2018 include:
- Rahim Jina, chief operating officer and co-founder of Edgescan
- Debbie Power, IoT Vodafone Ireland
- Michael Gubbins, head of Garda Cyber Crime Unit
- Kevin Kiley, vice president of sales and business development, OneTrust
- Bill Buchanan, professor in the School of Computing at Edinburgh Napier University
- Dr Ciarán McMahon, director of the Institute of Cyber Security and academic psychologist
- Maria Farrell, writer and tech policy consultant, who has worked for ICANN, the World Bank, the International Chamber of Commerce, the Confederation of British Industry (CBI) and the Law Society of England and Wales
- Brian Honan, CEO, BH Consulting, cyber security consultant
- Sharon O’Reilly, GRC/GDPR consultant with IT Governance
- Daragh O’Brien, founder, Castlebridge, specialist in information trust
- James Chappell, co-founder and chief innovation officer, Digital Shadows
INM technology editor Adrian Weckler (pictured) will chair the seminar.


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Cindy Summerfield has been an IP attorney for years. Now, she's putting that experience to work at her startup, KarmaKrowd.
The UpTake: Cindy Summerfield is putting her experience as a patent attorney to work on her new Chicago-based crowdfunding startup, KarmaKrowd. Entrepreneurs who crowdfund on her site will get services like filing of provisional patent applications.
Cindy Summerfield is putting her training at the U.S. Patent and Trademark Office and Pfizer to good use in the startup world.
The intellectual property attorney, who started her career helping determine who would get patents and trademarks and continued as a patent attorney at the pharmaceutical giant, today is launching a crowdfunding site, Chicago-based KarmaKrowd.
What do patents and trademarks have to do with raising money online? A lot, says Summerfield, and her awareness of that fact is what she says makes her startup different from dominant sites like Indiegogo and Kickstarter.
While most crowdfunding sites take a hands-off approach to such issues as whether someone looking for money is protecting intellectual property—or violating somebody else's—KarmaKrowd actually focuses on those questions.
"We really start working with these project owners to start thinking like an entrepreneur," she tells me. "We're really on the side of the entrepreneur. We really want to support these budding businesses."
That entails such work as filing incorporation papers, provisional patent applications, trademarks, copyrights and the like. "You name it," Summerfield says.
She has partnered with fellow patent attorney Patrick Richards on the startup. Richards, founder of Richards Patent Law, like Summerfield, has a background in Chicago.
KarmaKrowd will also vet startups looking to fundraise on the platform. That process includes a questionnaire and a background check. Once through the vetting and trademarking process, KarmaKrowd will help with with marketing.
Now, Summerfield says, "Nobody is looking out for these campaign owners who do have these great ideas. I think we can do better than that. We really give their projects the best opportunity to get fully funded."
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Since May 2013, EESL’s managing director Saurabh Kumar has been successfully running the PSU, which comes under the Ministry of Power. In an interaction with Electronics Bazaar’s Abid Hasan, he shares the organisation’s growth model, current key focus areas, the pricing of LED bulbs and EESL’s ‘new kids on the block’—smart meters and electric vehicles.
By Abid Hasan
On a lazy Saturday afternoon, it’s quite unusual to see a government executive working with utmost urgency. Saurabh Kumar, managing director of Energy Efficiency Services Limited (EESL), had called some of his key team members for an important meeting in the organisation’s Noida office when I went to meet him. When asked if EESL works on a Saturday, he replies that when he was joining EESL, he was told that, “Leave is not a right, it’s a privilege.”
Well, there is no doubt that with this kind of dedication, EESL has seen a growth of more than 100 per cent over the last few years, and has also become a case study for the International Energy Agency.
Kumar says that energy efficiency is a term that sounds attractive, but in reality, as it is invisible it’s difficult to measure it. There are also many behavioural challenges that make it difficult to calculate energy efficiency. “It’s an intangible asset and you only own the asset, you don’t operate it,” Kumar points out. In an inverter, solar rooftop project or in a generator, one can calculate how many units have been used, but in energy efficiency, whether the energy has been saved or not is a matter that has to be agreed upon between the customer and the supplier.
“Today we have replaced 3.4 million streetlights in the country. EESL is the largest streetlight owning company in the world; nobody manages so many assets within just seven years, like we have done. Yes, Philips may have done much more, but that was based on the supply model,” Kumar says.
The business model – India vs the world
The global energy efficiency market is about US$ 20 billion. China, the United Kingdom and the United States account for 90 per cent of the market, and in all these three markets, 80 per cent of the efficiency happens through subsidies. These subsidies are either given directly by the government or are given in the form of rate rebates.
“This year we are aiming to close at Rs. 30-40 billion”
Kumar says, “We don’t even use a single paisa of subsidy; we are just using the power of aggregation and the market to drive down the cost.” All of this started from LED bulbs and moved on to LED streetlights, energy-efficient fans, LED tubelights, and now to smart meters and electric vehicles.
Kumar adds that the electric vehicle programme, too, will not have the capital subsidy. Anywhere else in the world, a 30-40 per cent capital subsidy is given by the government. “We will not have any such subsidy; that is the power of this model. This is the basic ethos of our business model,” he says.
Growth at lightning speed
In May 2013, when Saurabh Kumar took over EESL as the managing director, the turnover of the company was ₹ 50 million. This fiscal year (2017-18), EESL has already touched a revenue of ₹ 12.27 billion. “This year we are aiming to close at ₹ 30-40 billion,” says Kumar. EESL has nearly 1000 employees with three offices outside India and 35 offices in the country.
So far, EESL has made an investment of around ₹ 14.4 billion in the UJALA project (calculated on the basis of ₹ 55 per bulb for 260 million bulbs) and ₹ 17 billion for the streetlight project (3.4 million streetlights at a cost of ₹ 5000 each).
The size of the investments is getting bigger as EESL is also expanding into solar, electric vehicles, inverters, ACs and smart meters.
EESL earns 23 per cent on the equity it put into UJALA. For streetlights, EESL gets a return of 21.5 per cent on the equity it has deployed.
Under the Street Lighting National Programme (SLNP), the conventional streetlights are being replaced with energy-efficient LED streetlights. EESL replaced half the streetlights in Puducherry, leading to a 50 per cent savings in energy. The success at Puducherry got replicated by the Andhra Pradesh government, and that was successfully followed by the other states. As of September this year, EESL has lit up the streets of India with 3,452,518 LED bulbs.
EESL is well versed with the latest LED technology, which even the prime minister raves about. Kumar is confident about the performance of these bulbs in the long run and says the chances of their failure are low. If they do fail, however, EESL will replace the bulb and the supplier has to bear the cost.
“We have a bulb that is much superior to any other in the world at a price even the Chinese can’t match,” Kumar says.
EESL has now started operations in two other countries—UK and Malaysia. Kumar feels that overcoming problems such as cost, performance and the ‘visibility’ of energy efficiency are the major successes for EESL.
The state affair
The organisation has started covering every nook and corner of the country, one state at a time. After covering Telangana, Andhra Pradesh, Maharashtra, Puducherry and others, EESL’s key focus now is Uttar Pradesh.
The Bihar government and EESL are also in talks to replace all the lights in the state with EESL’s LED bulbs, and an official contract is expected to be signed very soon. Interestingly, the Bihar government has assured the public that if there is any bulb failure, the replacement will be done within 72 hours, or EESL will pay ₹ 25 per day as a penalty.
“It’s a performance-based model, and I will charge the same penalty if my supplier fails to perform according to the contract,” warns Kumar.
Of late, Uttar Pradesh has emerged as the most promising state, where EESL has already replaced 2 million conventional lights with LED bulbs using the same model. It is in discussions with the Haryana, Jammu & Kashmir and Madhya Pradesh governments to get the work going in those states. EESL has tied up with post offices and petrol pumps across the country to sell its LED products. It has also signed an MoU this August with 150 petrol pumps in Maharashtra and UP to sell its products, and is now expanding this programme to other states.
EESL has completed replacement work in states like Gujarat and Rajasthan, too. In the next three months, it will also complete replacement of conventional lights with LED bulbs in the entire Jharkhand region.
It is estimated that the lighting sector accounts for about 20 per cent of the country’s total energy consumption. Kumar feels that the replacement of all legacy products with LED products will result in 50 per cent savings in energy. It is estimated that, till now, the UJALA scheme has saved 6.7GW of energy.
The central connection
Recently, the Finance Ministry has issued guidelines for all central government offices to retrofit energy efficiency appliances. EESL has plans to invest over ₹ 10 billion to retrofit 10,000 large government and private buildings by 2020 with such appliances. Till now, the organisation has covered more than 5000 buildings and is also covering 1500 railway stations under the same model. Kumar says that the remaining projects have started aggregating, and the costs will fall further after this order becomes mandatory. EESL is well prepared for this.
Last year, EESL issued bonds to raise funds. The organisation is continuing with the same process along with added benefits from the UJALA scheme, for which it gets the money upfront.
Apart from UJALA, it gets the rest of its lines of credit from the World Bank, the Asian Development Bank, Agence Française de Développement (AFD), The German Development Bank (KfW), all of which adds up to about US$ 1 billion. In July this year, EESL raised ₹ 5 billion from corporate bonds and is planning to raise another ₹ 5 billion in the coming few months.
Inverter ACs, smart meters and electric vehicles
EESL claims that its latest inverter ACs use 40 per cent less energy in comparison to the normal air conditioners. When asked how would EESL deal with a situation where the Bureau of Energy Efficiency finds that the inverter ACs are not capable of matching the stated 40 per cent savings in energy, Kumar says EESL accepts the ACs from its vendors only if they have the label of the energy efficiency ratio. Second, if there is any failure, the supplier has to bear the cost.
In order to fulfil the current government’s dream of making India an electric vehicle nation by 2030, EESL has taken the first step of procuring 10,000 electric vehicles and 4000 charging stations. The bidding process was held on September 28, 2017. Indian auto giants Mahindra & Mahindra, Tata Motors and Japanese car manufacturer Nissan have bid for the car tender of 10,000 vehicles.
EESL is looking to acquire a company in UK, within this financial year
Tata Motors emerged as the lowest bidder and bagged the contract to provide 10,000 electric cars to EESL. Tata Motors quoted the lowest price of ₹ 1.02 million, in the bidding process. The vehicle will be provided to EESL for ₹ 1.12 million, which will be inclusive of GST and a comprehensive 5-year warranty. At this price, the car will cost 25 per cent less than the current retail price of a similar e-car with a 3-year warranty.
On the other hand, EESL was willing to give some portion to Mahindra& Mahindra if they match Tata’s bid.
In a recent development, Mahindra agreed to EESL’s proposal and bagged the contract to supply 30 per cent of the first phase of the total order. Mahindra will supply 150 of to 500 EVs in the first phase.
EESL is expecting the vehicles to hit the road by November 2017.Smart meters are the next new kid on the block for EESL. Kumar is keeping this project simple. Under this proposal, EESL will be replacing 4 million conventional meters with smart meters. These smart meters will increase billing efficiency and reduce the meter reading cost. “These benefits are monetised and utilities will pay us in a five-year period,” concludes Kumar.
In order to consolidate its presence in the UK market, EESL has plans to invest around US$200 million over the next two years. Aggregation of 40 million luminaire pipelines has been done and the delivery is going to start in November 2017. In Malaysia, EESL has just entered the market, and the actual distribution is planned to start from the first week of November 2017. Last year (2016-17), all of EESL’s UK operations amounted to a turnover of around US$660,000.
“We are also looking to acquire a company in the UK within this financial year. If we are able to do that, we will achieve ₹ 40 billion in revenue for the fiscal year 2017-18. It’s a private company which operates in the combined heat and power category,” says Kumar.
Passing on the leadership baton
Recently, R.K. Singh replaced Piyush Goyal as the minister of power, independent charge. When asked if there were any changes in the working environment post the new leadership, Kumar says that the momentum has remained the same and will only increase. “The current political leadership is extremely favourable towards these kinds of projects,” he says.
Ordering a large number of electric vehicles, aggregation of smart meters, and getting solar rooftops at good prices are the three key achievements for Saurabh Kumar for this financial year.
“EESL is not creating a monopoly in the LED market”
Is the Power Finance Corporation (PFC) exploring ways to fund the purchase of 10,000 electric cars by EESL?
PFC is one of the promoter companies and it has a 32 per cent stake in EESL. In a way, it is funding us because I am using its equity contribution to fund this programme. But there has been no formal discussion on financing any one of our programmes.
Is UJALA distorting the price of LED products by keeping it so low? Is that true?
This belief is not backed by facts. In 2014-15, the overall market for CFLs and bulbs was ₹ 1.2 billion and, out of this, the total size of the LED market was ₹ 3 million. We accounted for ₹ 2.5 million and the others for ₹ 0.5 million.
The following year, the share of LEDs went up from ₹ 3 million to ₹ 150 million, where EESL did ₹ 90 million and the private sector did ₹ 60 million of the business. In 2016-17, the whole market went up to ₹ 400 million, in which EESL had a share of ₹ 130 million, and the private sector had a share of ₹ 270 million.
“We have sold the concept of LEDs through UJALA”
A few years back, there was no market for LEDs, and now the LED market share is 35 per cent of the total lighting market. So to those who say and believe that EESL is disrupting the market, all I can say is, “I am sorry, but the numbers I just mentioned tell another story.”
Second, we are selling a 9-watt white LED bulb under the UJALA scheme. How many 9-watt bulbs does one person use in the house? Offices, perhaps, use not even one. So what have we sold? We have sold the concept of LEDs through this programme, so that people can now go out and buy LED products.
So you are saying that it was EESL that promoted LEDs, and private players are benefiting as a result?
When we started and did the procurement, there were only six players and now there are 60 players. Our objective was to transform the market and exit in the next one or two years. We have now achieved this market transformation. The only reason we are still in the market is that we want to ensure there is no rebound effect.
Today, many companies have reduced the prices of LED bulbs to less than ₹ 100 (though some of them have not), but what if EESL leaves the market and the prices go up to ₹ 200 after people get used to LED lighting?
Don’t you think, with this pricing, EESL is creating its own monopoly?
There is no monopoly; this is a model anybody can adopt.
EESL is procuring the LED bulbs at ₹ 38 and still, the price of these bulbs is between ₹ 80-100 in the market. What is the reason behind such a huge price gap?
This is the question I am not able to answer. In fact, the previous minister of power, Piyush Goyal, and those of us in EESL have been breaking our heads with the industry. Philips gives me a bulb at ₹ 38 but why is the same bulb sold at ₹ 150 to the consumer? Why is the arbitrage so much?
“The market share of inverter ACs is less than 10 per cent. Ideally, it should shift to 90 per cent.”
So what was the response from the industry?
They don’t have an answer. You have to ask this question to the industry. I am still looking for an answer and that is why we still want to be present in the industry, because we feel there might be a rebound. Initially, those in the industry said that they had inventories of CFL; after that they said their dealer networks require a higher premium.
Who are your suppliers for all the LED products?
Currently, we have three suppliers —Philips, LEDVANCE and Crompton Greaves.
EESL’s inverter ACs are entering the market. What kind of boost can we expect in the components manufacturing sector?
These are two different technologies. Normal ACs are fixed drive ACs. The compressor runs at a particular pace throughout the time one uses it. Inverter ACs run on a variable frequency drive. Here, the compressor switches off during the period when maximum cooling is not required —that’s how you save money. The only component which is different is the compressor, because it runs on a variable frequency.
I guess it will give a boost to the industry though it’s difficult to say anything concrete. The total number of ACs that are sold every year in the Indian market is about 5 million. The share of inverter ACs is less than 10 per cent. Ideally, it should shift to 90 per cent, but I am not sure by when that will happen. Countries like Japan, South Korea and China have already switched over to inverter ACs.
Is EESL also a buyer on the GeM (Government e-Marketplace) platform?
We are suppliers on the GeM platform. All our products are listed on this platform. It has just been launched and Indians are slowly getting to know about it. We are expecting a good response to this platform.