The Tata Nano, the world’s cheapest car, has been officially launched in India.
It is due to arrive on the roads in July after a series of setbacks.
The main production plant had to be moved following land protests, the company posted its first loss in seven years, its shares have dropped seventy percent and its credit rating been cut.
But for Tata’s boss, Ratan Tata, this is his dream come true. At the launch he said: “It never was conceived of as being the cheapest car, it was conceived of as being the car that would give the people of India an opportunity to own a car that had not been within their reach before, and I hope, that that is what we will achieve.”
Demand has outstripped supply for the tiny and basic car which costs the equivalent of just under 1,500 euros.
Tata said he wants to build a more robust version in the future to meet European and even US safety regulations.
So will the increase in worldwide petrol comsumption and carbon footprint !!! Why can't India invest her resources and technology to upgrade her massive railway networks into a viable mass rapid transport system instead. Imagine how much India will be able to save in energy expenditure and to reduce the air pollution in her cities !!!
The car that runs on fresh air
Engineers in the south of France are working on a car that they hope will radically change the way motorist fuel their vehicles.
It is powered by compressed air, emits zero pollution – from the exhaust-pipe at least – costs one euro per fill-up and boasts a top speed of 70 kilometres per hour.
Energy is still needed to power the air compressors but at least the air in cities will be cleaner with massive reduction in carbon dioxide emissions !
Seems everyone is lining up for a government handout, but in the case of the porn industry, you may wonder where the hands have been. TMZ is reporting that Hustler's Larry Flynt and "Girls Gone Wild" creator Joe Francis are asking for a $5 billion federal bailout of adult entertainment because "the economy has made America's appetite for sex go limp." The Web site claims adult DVD sales are down 22 percent in a year, numbers which are sure to deflate expectations at this weekend's AVN Adult Entertainment Expo in Las Vegas. Porn may not be as recession-proof as originally thought. Not only are people spending less, but there's a lot of free competition available. TMZ says Joe Francis, hounded by legal troubles, plans to go to Congress to ask for his own ... stimulus package. "Francis sees his industry like the big three automakers, only BIGGER" says TMZ. "Sounds like someone has a bone to pick." Gee. Where to put that $5 billion? Subsidize silicone? Provide consumer incentives ("buy one, get one free")? Zero-percent financing to shoot the next installment of "Lex the Impaler"? Larry Flynt is raising the term "if you have the cheek,flaunt it" and "ask and it may be granted" to a whole new level !! China Urges New Money Reserve to Replace Dollar By: David Barboza , The New York Times | 24 Mar 2009 | 08:15 AM ET SHANGHAI — In another indication that China is growing increasingly concerned about holding huge dollar reserves, the head of its central bank has called for the eventual creation of a new international currency reserve to replace the dollar. In a paper released Monday, Zhou Xiaochuan, governor of the People’s Bank of China, said a new currency reserve system controlled by the International Monetary Fund could prove more A new system is necessary, he said, because the global economic crisis has revealed the “inherent vulnerabilities and systemic risks in the existing international monetary system.” While few analysts believe that the dollar will be replaced as the world’s dominant foreign exchange reserve anytime soon, the proposal suggests that China is preparing to assume a more influential role in the world. Russia recently made a similar proposal. China has the world’s largest foreign exchange reserves, valued at nearly $2 trillion, with more than half of those holdings estimated to be made up of United States Treasuries and other dollar-denominated bonds. On March 13, China’s prime minister, Wen Jiabao, said he was concerned about the safety of those assets, particularly because huge economic stimulus plans could lead to soaring deficits in the United States, which could sink the dollar’s value. Should China lose its appetite for Treasuries, the United States’ borrowing costs could rise, making it more costly for Washington to carry out economic stimulus packages and for Americans to pay off their mortgages. Nicholas Lardy, an economist and China specialist at the Peterson Institute in Washington, said that through its proposal, China was indicating that the dollar’s long dominance was unfair, allowing the United States to run huge deficits by borrowing from abroad, and that the risks to holders of Treasuries were growing. “Chinese are quite concerned that the large U.S. government deficits will eventually lead to inflation, which will erode the purchasing power of the dollar-denominated financial assets which they hold,” Mr. Lardy said. “It is a legitimate concern.” The timing of the Chinese announcement, analysts said, could also be aimed at giving Beijing more leverage to negotiate with the United States and other nations in London on trade and on proposals about how to stabilize the global economy. But China is cautious when it discusses buying or selling Treasuries, for fear of sending a signal that could significantly affect currency markets. So in a separate announcement on Monday, China said it would continue to buy Treasuries, something the United States has encouraged. In Mr. Zhou’s essay, published in English and Chinese on the central bank’s Web site, he said the international community should consider expanding the International Monetary Fund’s Special Drawing Rights. Such a proposal has been suggested before by developing countries. But the United States has always been wary that this could be inflationary and affect the central role of the dollar. Special Drawing Rights are based on the value of the dollar, euro, pound and yen, but have been little used except as an accounting entry by international organizations. Mr. Zhou said the goal of reforming the international monetary system was to “create an international reserve currency that is disconnected from individual nations and is able to remain stable in the long run.” Keith Bradsher contributed reporting from Beijing. It's about time the world leaders wake up from denial and realise that the days, of USD monopoly as a Reserve Currency ,are numbered. Mind your pees and queues BRUSSELS (Reuters Life!) – A world record in the length of a queue to a toilet was set on Sunday when 756 people lined up to a latrine in central Brussels to raise awareness for the need for clean water on World Water Day. The event was organized by the United Nations' children's agency UNICEF which gave each participant a wristband with his or her number in the line and T-shirt certifying participation in the event. "The latrine was of the same design as we use in third world countries -- a dry latrine -- and we formed the longest queue this morning," UNICEF spokesman Benoit Melebeck said. "The Guinness Book of Records told us we needed to get at least 500 people in the queue to get the record," he said. Melebeck said the event was to raise public awareness and eventually funds for the need for more pumps, wells, latrines hygiene education for children in third world countries. "We have 5,000 children dying every day from the lack of clean water, sanitation and hygiene education -- this means one every 20 seconds," he said. Melebeck said none of the 756 people did not actually use the latrine, which was only a fake. Malaysia's next prime minister Najib Razak yesterday (March 24) delivered a blunt message to his beleaguered Umno party: Vote with integrity for its next generation of leaders or risk being consigned to oblivion. Speaking on the eve of crucial party elections, Najib urged members to vote a line-up of leaders who are strong and able. "Present to me a team that has the traits of loyalty, integrity, ability and dedication to duty," he said at the opening of the Youth, Wanita and Puteri wings' assembly last night. It was an impassioned plea to a party that has been severely weakened by the trouncing it received at last year's general election. Umno has come to be seen as an insular and corrupt party with self-serving leaders. Umno's triennial party elections today (March 25) and tomorrow (March 26) will, for the first time in decades, see nearly all its posts up for contest. Najib is unchallenged for the presidency. Speaking from a position of strength as he stood on the cusp of power, he used the occasion to spell out Umno's woes, one by one, that he said could send the party into the footnotes of history. He told the delegates that Umno was seen as out of touch and elitist, with its elections tainted with vote buying and money politics. "Leaders of good standing who do not indulge in corruption will be sidelined in favour of those who bribe. The party will be led by those who will bring their culture of corruption in the way they lead," he said. Najib went on to outline sweeping proposals to the party's election process to make it harder to buy votes. He wanted to give the right to vote to more Umno members, instead of just the 2,600 delegates to the Umno assembly. He also wanted the party to relook the requirement for candidates to be nominated by a certain number of divisions to qualify to contest. An identical message was stressed by Prime Minister Abdullah Badawi, the outgoing Umno president, to the delegates at a closed-door session. "I reminded them of their role to choose the right leaders. This is so that we can regain the people's confidence," he told reporters. It is, however, left to be seen if the party grassroots, fed a diet of patronage, would welcome a new system that will cut their lifeline. Resistance from the powerful grassroots and warlords has stymied past attempts to reform. But Mr Najib made it clear that the party was already in danger of losing the support of even the Malays, who no longer saw it as defending their community's interests, as evident from the election result last year. "If we do not heed this message, their seething anger will become hatred and in the end this may cause them to abandon us altogether," he warned. This is a rare acknowledgement that the Malays, too, had begun to turn to the opposition which has been championing the interest of the masses. The theme of Najib's speech was simple - recognise the danger that Umno is in, vote with integrity and face up to the need for painful reforms. "Starkly different from the party elections of previous years, at stake this year is not just a handful of party posts, nor is it a matter of positions or status for any individual. What is at stake is nothing less than the very fate of Umno," he said. Additional reporting by Elizabeth Looi You forgot to say, Najib, "present company not included" and for whose pleasure it is, your magnificent Sandiwara display !!!Porn industry seeks own stimulus ... package
Adult industry titans say economy has made Americans ‘go limp’
stable and economically viable.
China’s bold idea, released more than a week before world leaders are to gather in London for an economic summit meeting, also indicates that Beijing is worried that its huge dollar-denominated foreign reserves could lose significant value in coming years.
Give me a good team, says M'sia's next PM
Carolyn Hong
The Straits Times
Publication Date: 25-03-2009
2 comments:
Wah Ocho-Onda,
You are on a blogging spree!!! I spent the whole morning writing my post on my illness & freedom of speech hehehe and also reading your posts!! Heavy reading except for the Jane Wells' reprive!
Personally, I go for small cars - economical and more environment friendly.
Sometimes, I do not see the logic or rationale of doing sth just to get name and fame. Some Malaysians are like that - vying for the longest teh tarik, biggest pizza etc...Although the motivation is admirable, I am sure there are other ways of raising awareness apart from queueing up at the toilet!
cheers
Must be the Spring air, Paula.
It does wonders to the human psyche to know that Life and Nature itself,that surrounds us, is entering a new cycle of rebirth !
Cheers.
Post a Comment