Experience our most innovative and imaginative ship yet, Oasis of the Seas. This new class of naval engineering genius features the first ever neighbourhood concept where everyone can find their unique experiences in one of our seven distinct onboard districts, including: Central Park – a public space combining nature and nautical life; Boardwalk – dedicated to family, fun and featuring the new and entertaining AquaTheater; and the Royal Promenade – the heart of many Royal Caribbean ships, that's now bigger and better than ever. With 28 ultra-modern loft suites and 2,700 spacious staterooms, this 16-deck marvel proves that the impossible is possible. You have to see it to believe it.
Ship Highlights:
Seven distinctly designed neighbourhoods, including:
BoardwalkSM:
AquaTheater outdoor ampitheatre
Carousel
The first ever Zip Line at sea
Two rock-climbing walls
Psychic and Tattoo parlour
Kids and teen shopping
Seafood Shack, Johnny Rockets and The Donut Shop
Central ParkSM:
Open to the sky, with winding paths of quiet reading corners and other hidden surprises
Trellis Bar
Parkside Gallery & Picture This photo studio
Park Café & Vintages
150 Central Park – upmarket dining
Antonio's Table & Chops Grille
Royal Promenade – with a mezzanine level:
Three-level escalating – Rising Tide Bar
Sorrento's Pizzeria, Mondo Café, Café Promenade
Boleros Latin Lounge
Schooner Bar & Champagne Bar
On-Air Club
Loft Staterooms
28 two-level contemporary loft suites.
Ship Facts
Guest Capacity: 5,400 double occupancy
Gross Tonnage: 220,000
Staterooms: 2,700
Decks: 16 high
Length: 360.9 m (1,184 ft)
Max Beam: 46.9 m (154 ft)
Draft: 9 m (30 ft)
Cruising Speed: 22 knots (25.3 mph/40.7 kmph)
Saturday 31 October 2009
Thursday 17 September 2009
The Sony Rolly – A Cute, Cool and Dancing MP3 Player
Sony is famous for its innovations in the music players' field, so its latest products couldn't be disappointing. The Sony Rolly Sound Entertainment Player is one amazing achievement of modern technology, being the first portable music player and, at the same time, a robotic device that dances on your favorite music, while playing it. While some might argue its functionality, it still is a fun gadget to own.
DESIGN:
Quite obviously, the design of Sony's Rolly is the first thing anyone will notice about it. At first glance, the thing looks like some sort of ovoid robot, which can easily fit within one's hand and, at the same time, has a very low weight.
Furthermore, the device packs a couple of wheels, which help it dance around whenever this particular function is activated, as well as two “wings” or “fins,” whichever term you prefer, located on the sides, which flip like crazy in order to match the music being played by the device itself.
Overall, the Rolly has been clearly designed in order to combine a fairly functional design with visually attractive features, and it's sure to draw anyone's attention.
PERFORMANCE:
As far as its performance is concerned, I'd say that there are several angles from which we can “tackle” the Rolly. First of all, from an audio playback point of view, it's important to mention the fact that it packs 2 x 1.2W speakers, which is enough for a small room or a larger, but quieter one. However, if there is too much background noise, it's very likely that this amount of power won't be sufficient.
The control range is another issue, but that's restricted only by Bluetooth technology to around 10 meters. Finally, the battery life is more or less OK, since the built-in Li-Ion pack allows the gadget to play music for around five hours or dance around while playing music for up to four hours.
MONEY MATTERS:
Well, the price point is the only issue where the Rolly is far from fantastic. So, Sony's little dancing robot sells for somewhere in the vicinity of $400, which is a little bit too much, given the features this thing can provide. Sure, it's a great toy, it's fun, but unless you're sitting on a pile of money, it's not exactly a top priority purhcase.
Lets see in brief:
1GB internal flash-memory.
Bluetooth 2.0 connectivity for receiving and streaming music
Editable “dance moves” + software for controll
Battery specifications: 3.7V 1560 mAh rechargeable battery
Battery life: 5h for music playback, 4,5h for streaming music over Bluetooth connection, 4h of music and motion combined, and finally 3,5h for streaming music over Bluetooth with motion
USB 2.0 conection for transferring music and charging the batteryge
Supported audio formats: MP3, ATRAC, AAC up to 300+ kbps
Dimensions and weight: 104√ó65√ó65mm, 300grams
Price: $400.
Wednesday 2 September 2009
Thursday 9 July 2009
Hey Guys U Know The Man Who Created Orkut............
From: scrappur.com
Man Who Created Orkut
Orkut was launched on November 17, 2002 by the Google. It was the brainchild of Orkut Büyükkökten, a Turkish software engineer, who developed it as an independent project while working at Google.He developed Orkut as an independent project (all employees at Google can [Orkut Buyukkokten] spend 20% of their time working on personal interests)
Orkut Buyukkokten is a software engineer and product manager at Google. Originally from the Turkish city of Konya, Büyükkökten obtained a B.Sc. degree in Computer Engineering and Information Science from Bilkent University in Ankara, and earned a Ph.D. in Computer Science from Stanford University. His research at Stanford focused on Web search and efficient PDA usage. He has been building and working on online communities these past [Homepage at Stanford] years. His interests include social networks, interface design and mobile applications. While previously working for Affinity Engines, he had developed a similar system, InCircle, intended for use by university alumni groups.
His dream (visit his homepage at Stanford) was to "experience all the wildest things in life and never look back or regret about anything." Most of us will agree that he has somewhat achieved it.
Man Who Created Orkut
Orkut was launched on November 17, 2002 by the Google. It was the brainchild of Orkut Büyükkökten, a Turkish software engineer, who developed it as an independent project while working at Google.He developed Orkut as an independent project (all employees at Google can [Orkut Buyukkokten] spend 20% of their time working on personal interests)
Orkut Buyukkokten is a software engineer and product manager at Google. Originally from the Turkish city of Konya, Büyükkökten obtained a B.Sc. degree in Computer Engineering and Information Science from Bilkent University in Ankara, and earned a Ph.D. in Computer Science from Stanford University. His research at Stanford focused on Web search and efficient PDA usage. He has been building and working on online communities these past [Homepage at Stanford] years. His interests include social networks, interface design and mobile applications. While previously working for Affinity Engines, he had developed a similar system, InCircle, intended for use by university alumni groups.
His dream (visit his homepage at Stanford) was to "experience all the wildest things in life and never look back or regret about anything." Most of us will agree that he has somewhat achieved it.
Sunday 5 July 2009
Think different yaar............
Q.How can you drop a raw egg onto a concrete floor without cracking it?
A. Concrete floors are very hard to crack! (UPSC Topper)
Q.If it took eight men ten hours to build a wall, how long would it take four men to build it?
A. No time at all it is already built. (UPSC 23 rd Rank Opted for IFS)
Q.If you had three apples and four oranges in one hand and four apples and three oranges in the other hand, what would you have?
A. Very large hands.(UPSC 11 Rank Opted for IPS)
Q. How can you lift an elephant with one hand?
A. It is not a problem, since you will never find an elephant with one hand. (UPSC Rank 14 Opted for IES)
Q. How can a man go eight days without sleep?
A. No Probs, He sleeps at night. (UPSC IAS Rank 98)
Q. If you throw a red stone into the blue sea what it will become?
A. It will become Wet or Sink as simple as that. (UPSC IAS Rank 2)
Q. What looks like half apple?
A : The other half. (UPSC - IAS Topper )
Q. What can you never eat for breakfast?
A : Dinner.
Q. What happened when wheel was invented?
A : It caused a revolution.
Q. Bay of Bengal is in which state?
A : Liquid State(UPSC 33Rank )
A. Concrete floors are very hard to crack! (UPSC Topper)
Q.If it took eight men ten hours to build a wall, how long would it take four men to build it?
A. No time at all it is already built. (UPSC 23 rd Rank Opted for IFS)
Q.If you had three apples and four oranges in one hand and four apples and three oranges in the other hand, what would you have?
A. Very large hands.(UPSC 11 Rank Opted for IPS)
Q. How can you lift an elephant with one hand?
A. It is not a problem, since you will never find an elephant with one hand. (UPSC Rank 14 Opted for IES)
Q. How can a man go eight days without sleep?
A. No Probs, He sleeps at night. (UPSC IAS Rank 98)
Q. If you throw a red stone into the blue sea what it will become?
A. It will become Wet or Sink as simple as that. (UPSC IAS Rank 2)
Q. What looks like half apple?
A : The other half. (UPSC - IAS Topper )
Q. What can you never eat for breakfast?
A : Dinner.
Q. What happened when wheel was invented?
A : It caused a revolution.
Q. Bay of Bengal is in which state?
A : Liquid State(UPSC 33Rank )
Saturday 4 July 2009
Bill Gates's Profile
Source:BBC NEWS
Gates had sold his first computer program by the age of 17
Bill Gates has created the world's largest company, he is the world's richest man and he has become the biggest charitable giver in history.
He may be a college drop-out and "computer geek" but rivals have often underestimated his abilities in the cut throat world of business.
Despite the wealth and ruthless domination of the global computer industry, Gates maintains it is the programming itself which is his abiding passion.
He stood down as chief executive of Microsoft in 2000, to focus on software development and the new challenges of the mobile internet age.
The one-time high school computer enthusiast - whose worth passed the $100bn mark in 1999 - said he wanted to immerse himself again in the work he loves most.
Early fascination:
Gates has come to be known for his aggressive business tactics and confrontational style of management.
He, and his company, have attracted a vast army of critics and enemies in recent years as their domination of the IT world has grown.
He was born on 28 October, 1955, growing up with two sisters in Seattle. Their father, William H. Gates II, is a Seattle attorney, and their late mother, Mary Gates, was a schoolteacher.
Gates began computing as a 13-year-old at the city's Lakeside school.
By the age of 17, he had sold his first program - a timetabling system for the school, earning him $4,200.
It was at Lakeside that he met fellow student Paul Allen, who shared his fascination with computers.
During Gates' stint at Harvard, the two teamed up to write the first computer language program written for a personal computer.
The PC's maker, MITS, liked their work and the two friends established Microsoft in 1975, so-called because it provided microcomputer software.
Self-made billionaire:
A year later, Gates dropped out of Harvard, once it became clear that the possibilities for Microsoft were bright.
The big break came in 1980 when an agreement was signed to provide the operating system that became known as MS-DOS, for IBM's new personal computer.
In a contractual masterstroke, Microsoft was allowed to licence the operating system to other manufacturers, spawning an industry of "IBM-compatible" personal computers which depended on Microsoft's operating system.
That fuelled further growth, prompting the company to float in 1986, raising $61m.
Now a multi-millionaire, Allen had already stepped back from the frontline. But Gates continued to play the key role in the company's growth, with his vision for networked computers proving central to Microsoft's success.
However, his judgement has not always appeared flawless.
While sales and profits rocketed in the early 1990s, he was seen to have misjudged on a grand scale the possibilities and growth of the internet.
Outside of Microsoft he also has interests in biotech companies, sitting on the board of the Icos Corporation and has a stake in Darwin Molecular, a subsidiary of British-based Chiroscience.
Family man:
He founded Corbis Corporation, which is developing a digital archive of art and photography from public and private collections around the globe.
His books, The Road Ahead and Business @ the Speed of Thought have both hit the best seller lists.
Gates married Melinda on New Year's Day 1994.Together they have three children - Jennifer Katharine, born in 1996, Rory John, born in 1999, and Phoebe Adele, born in 2002
He met his wife in 1987 at a Microsoft press event in Manhattan. She was working for the company and later became one of the executives in charge of interactive content.
Other interests listed on his official website are reading and playing golf and bridge.
Gates and Melinda have been giving increasing amounts of money to charity, with his father running a foundation.
It has been endowed with billions to support initiatives in the areas of global health and education.
It is the world's second richest philanthropic organisation, and within shouting distance of the world number one, The Wellcome Trust in the UK.
Gates had sold his first computer program by the age of 17
Bill Gates has created the world's largest company, he is the world's richest man and he has become the biggest charitable giver in history.
He may be a college drop-out and "computer geek" but rivals have often underestimated his abilities in the cut throat world of business.
Despite the wealth and ruthless domination of the global computer industry, Gates maintains it is the programming itself which is his abiding passion.
He stood down as chief executive of Microsoft in 2000, to focus on software development and the new challenges of the mobile internet age.
The one-time high school computer enthusiast - whose worth passed the $100bn mark in 1999 - said he wanted to immerse himself again in the work he loves most.
Early fascination:
Gates has come to be known for his aggressive business tactics and confrontational style of management.
He, and his company, have attracted a vast army of critics and enemies in recent years as their domination of the IT world has grown.
He was born on 28 October, 1955, growing up with two sisters in Seattle. Their father, William H. Gates II, is a Seattle attorney, and their late mother, Mary Gates, was a schoolteacher.
Gates began computing as a 13-year-old at the city's Lakeside school.
By the age of 17, he had sold his first program - a timetabling system for the school, earning him $4,200.
It was at Lakeside that he met fellow student Paul Allen, who shared his fascination with computers.
During Gates' stint at Harvard, the two teamed up to write the first computer language program written for a personal computer.
The PC's maker, MITS, liked their work and the two friends established Microsoft in 1975, so-called because it provided microcomputer software.
Self-made billionaire:
A year later, Gates dropped out of Harvard, once it became clear that the possibilities for Microsoft were bright.
The big break came in 1980 when an agreement was signed to provide the operating system that became known as MS-DOS, for IBM's new personal computer.
In a contractual masterstroke, Microsoft was allowed to licence the operating system to other manufacturers, spawning an industry of "IBM-compatible" personal computers which depended on Microsoft's operating system.
That fuelled further growth, prompting the company to float in 1986, raising $61m.
Now a multi-millionaire, Allen had already stepped back from the frontline. But Gates continued to play the key role in the company's growth, with his vision for networked computers proving central to Microsoft's success.
However, his judgement has not always appeared flawless.
While sales and profits rocketed in the early 1990s, he was seen to have misjudged on a grand scale the possibilities and growth of the internet.
Outside of Microsoft he also has interests in biotech companies, sitting on the board of the Icos Corporation and has a stake in Darwin Molecular, a subsidiary of British-based Chiroscience.
Family man:
He founded Corbis Corporation, which is developing a digital archive of art and photography from public and private collections around the globe.
His books, The Road Ahead and Business @ the Speed of Thought have both hit the best seller lists.
Gates married Melinda on New Year's Day 1994.Together they have three children - Jennifer Katharine, born in 1996, Rory John, born in 1999, and Phoebe Adele, born in 2002
He met his wife in 1987 at a Microsoft press event in Manhattan. She was working for the company and later became one of the executives in charge of interactive content.
Other interests listed on his official website are reading and playing golf and bridge.
Gates and Melinda have been giving increasing amounts of money to charity, with his father running a foundation.
It has been endowed with billions to support initiatives in the areas of global health and education.
It is the world's second richest philanthropic organisation, and within shouting distance of the world number one, The Wellcome Trust in the UK.
Friday 3 July 2009
Reasons for global recession
These days the most talked about news is the current financial crisis that has engulfed the world economy. Every day the main headline of all newspapers is about our falling share markets, decreasing industrial growth and the overall negative mood of the economy. For many people an economic depression has already arrived whereas for some it is just round the corner. In my opinion the depression has already arrived and it has started showing its effect on India.
So what has caused this major economic upheaval in the world? What is the cause of falling share markets the world over and bankruptcy of major banks? In this article, I shall try to explain the reasons for recent economic depression for all those who find it difficult to understand the complex economics lingo and are looking for a simple explanation.
It all started in US…
In order to understand what is now happening in the world economy, we need to go a little back in past and understand what was happening in the housing sector of America for past many years. In US, a boom in the housing sector was driving the economy to a new level. A combination of low interest rates and large inflows of foreign funds helped to create easy credit conditions where it became quite easy for people to take home loans. As more and more people took home loans, the demands for property increased and fueled the home prices further. As there was enough money to lend to potential borrowers, the loan agencies started to widen their loan disbursement reach and relaxed the loan conditions.
The loan agents were asked to find more potential home buyers in lieu of huge bonus and incentives. Since it was a good time and property prices were soaring, the only aim of most lending institutions and mortgage firms was to give loans to as many potential customers as possible. Since almost everybody was driving by the greed factor during that housing boom period, the common sense practice of checking the customer’s repaying capacity was also ignored in many cases. As a result, many people with low income & bad credit history or those who come under the NINJA (No Income, No Job, No Assets) category were given housing loans in disregard to all principles of financial prudence. These types of loans were known as sub-prime loans as those were are not part of prime loan market (as the repaying capacity of the borrowers was doubtful).
Since the demands for homes were at an all time high, many homeowners used the increased property value to refinance their homes with lower interest rates and take out second mortgages against the added value (of home) to use the funds for consumer spending. The lending companies also lured the borrowers with attractive loan conditions where for an initial period the interest rates were low (known as adjustable rate mortgage (ARM). However, despite knowing that the interest rates would increase after an initial period, many sub-prime borrowers opted for them in the hope that as a result of soaring housing prices they would be able to quickly refinance at more favorable terms.
Now what is a money market?
Money Market is actually an inter-bank market where banks borrow and lend money among themselves to meet short-term need for funds. Banks usually never hold the exact amount of cash that they need to disburse as credit. The ‘inter-bank’ market performs this critical role of bringing cash-surplus and cash-deficit banks together and lubricates the process of credit delivery to companies (for working capital and capacity creation) and consumers (for buying cars, white goods etc). As the housing loan crisis intensified, banks grew increasingly suspicious about each other’s solvency and ability to honour commitments. The inter-bank market shrank as a result and this began to hurt the flow of funds to the ‘real’ economy. Panic begets panic and as the loan market went into a tailspin, it sucked other markets into its centrifuge.
The liquidity crunch in the banks has resulted in a tight situation where it has become extremely difficult even for top companies to take loans for their needs. A sense of disbelief and extreme precaution is prevailing in the banking sectors. The global investment community has become extremely risk-averse. They are pulling out of assets that are even remotely considered risky and buying things traditionally considered safe-gold, government bonds and bank deposits (in banks that are still considered solvent).
As such this financial crisis is the culmination of the above mentioned problems in the global banking system. Inter-bank markets across the world have frozen over. The meltdown in stock markets across the world is a victim of this contagion.
Governments and central banks (like Fed in US) are trying every trick in the book to stabilize the markets. They have pumped hundreds of billions of dollars into their money markets to try and unfreeze their inter-bank and credit markets. Large financial entities have been nationalized. The US government has set aside $700 billion to buy the ‘toxic’ assets like CDOs that sparked off the crisis. Central banks have got together to co-ordinate cuts in interest rates. None of this has stabilized the global markets so far. However, it is hoped that proper monitoring and controlling of the money market will eventually control the situation.
How it has affected India?
In the age of globalization, no country can remains isolated from the fluctuations of world economy. Heavy losses suffered by major International Banks is going to affect all countries of the world as these financial institutes have their investment interest in almost all countries.
As of now India is facing heat on three grounds: (1) Our Share Markets are falling everyday, (2) Rupee is weakening against dollars and (3) Our banks are facing severe crash crunch resulting in shortage of liquidity in the market.
Actually all the above three problems are interconnected and have their roots in the above-mentioned global crisis.
For the last two years, our stock market was touching new heights thanks to heavy investments by Foreign Institutional Investors (FIIs). However, when the parent companies of these investors (based mainly in US and Europe) found themselves in a severe credit crunch as a result of sub-prime mess, the only option left with these investors was to withdraw their money from Indian Stock Markets to meet liabilities at home. FIIs were the main buyers of Indian Stocks and their exit from the market is certain to wreak havoc in the market. FIIs who were on a buying spree last year, are now in the mood of selling their stocks in India. As a result our Share Markets are touching new lows everyday.
Since, the money, which FIIs get after selling their stocks, needs to be converted into dollars before they can sent it home, the demands for dollars has suddenly increased. As more and more FIIs are buying dollars, the rupee is loosing its strength against dollar. As long as demands for dollars remain high, the rupee will keep loosing its strength against dollar.
The current financial crisis has also started directly affecting Indian Industries. For the past few years, the two most preferred method of raising money by the companies were Stock Markets and external borrowings on low interest rates. Stock Markets are bleeding everyday and it is not possible to raise money there. Regarding external borrowing from world markets, this option has also become difficult.
In the last fiscal year alone, India borrowed $29 billion from foreign lenders and got $34 billion of foreign direct investment. A global recession has hurt external demand. International lenders who have become extremely risk aversive can limit access to international capital. If that happens, both India’s financial markets and the real economy will be hurt in the process. Suddenly, the 9% growth target does not seem that ‘doable’ any more; we should be happy to clock 7% this fiscal year and the next.
However, one positive point in favor of India is the fact that Indian Banks are more or less secured from the ill-effects of sub-prime mess. A glance at Indian banks’ balance sheets would show that their exposure to complex instruments like CDOs is almost nil. In India, still the major banking operations are in the hands of Public Sector Banks who exercise extreme cautions in disbursing loans to needy people/companies. As a result, we are not likely to see a repeat of sub-prime crisis in India. Though there have been a presence of big US/European Banks in India and even some Indian banks (like ICICI) have some foreign subsidiary with stake in the sub-prime losses, there presence is miniscule as compare to the overall size of Indian banking industry. So at least on this major front we need not worry much.
However, a global depression is likely to result in a fall in demand of all types of consumer goods. In 2007-08, India sold 13.5% of its goods to foreign buyers. A fall in demand is likely to affect the growth rate this year. Our export may get affected badly.
A negative atmosphere, shortage of cash, fall in demands, reducing growth rate and uncertainties in the market are some of the most visible aspects of an economic depression. What started as a small matter of sub-prime loan defaulters has now become a subject of global discussion and has engulfed the global economy scenario.
So what has caused this major economic upheaval in the world? What is the cause of falling share markets the world over and bankruptcy of major banks? In this article, I shall try to explain the reasons for recent economic depression for all those who find it difficult to understand the complex economics lingo and are looking for a simple explanation.
It all started in US…
In order to understand what is now happening in the world economy, we need to go a little back in past and understand what was happening in the housing sector of America for past many years. In US, a boom in the housing sector was driving the economy to a new level. A combination of low interest rates and large inflows of foreign funds helped to create easy credit conditions where it became quite easy for people to take home loans. As more and more people took home loans, the demands for property increased and fueled the home prices further. As there was enough money to lend to potential borrowers, the loan agencies started to widen their loan disbursement reach and relaxed the loan conditions.
The loan agents were asked to find more potential home buyers in lieu of huge bonus and incentives. Since it was a good time and property prices were soaring, the only aim of most lending institutions and mortgage firms was to give loans to as many potential customers as possible. Since almost everybody was driving by the greed factor during that housing boom period, the common sense practice of checking the customer’s repaying capacity was also ignored in many cases. As a result, many people with low income & bad credit history or those who come under the NINJA (No Income, No Job, No Assets) category were given housing loans in disregard to all principles of financial prudence. These types of loans were known as sub-prime loans as those were are not part of prime loan market (as the repaying capacity of the borrowers was doubtful).
Since the demands for homes were at an all time high, many homeowners used the increased property value to refinance their homes with lower interest rates and take out second mortgages against the added value (of home) to use the funds for consumer spending. The lending companies also lured the borrowers with attractive loan conditions where for an initial period the interest rates were low (known as adjustable rate mortgage (ARM). However, despite knowing that the interest rates would increase after an initial period, many sub-prime borrowers opted for them in the hope that as a result of soaring housing prices they would be able to quickly refinance at more favorable terms.
Now what is a money market?
Money Market is actually an inter-bank market where banks borrow and lend money among themselves to meet short-term need for funds. Banks usually never hold the exact amount of cash that they need to disburse as credit. The ‘inter-bank’ market performs this critical role of bringing cash-surplus and cash-deficit banks together and lubricates the process of credit delivery to companies (for working capital and capacity creation) and consumers (for buying cars, white goods etc). As the housing loan crisis intensified, banks grew increasingly suspicious about each other’s solvency and ability to honour commitments. The inter-bank market shrank as a result and this began to hurt the flow of funds to the ‘real’ economy. Panic begets panic and as the loan market went into a tailspin, it sucked other markets into its centrifuge.
The liquidity crunch in the banks has resulted in a tight situation where it has become extremely difficult even for top companies to take loans for their needs. A sense of disbelief and extreme precaution is prevailing in the banking sectors. The global investment community has become extremely risk-averse. They are pulling out of assets that are even remotely considered risky and buying things traditionally considered safe-gold, government bonds and bank deposits (in banks that are still considered solvent).
As such this financial crisis is the culmination of the above mentioned problems in the global banking system. Inter-bank markets across the world have frozen over. The meltdown in stock markets across the world is a victim of this contagion.
Governments and central banks (like Fed in US) are trying every trick in the book to stabilize the markets. They have pumped hundreds of billions of dollars into their money markets to try and unfreeze their inter-bank and credit markets. Large financial entities have been nationalized. The US government has set aside $700 billion to buy the ‘toxic’ assets like CDOs that sparked off the crisis. Central banks have got together to co-ordinate cuts in interest rates. None of this has stabilized the global markets so far. However, it is hoped that proper monitoring and controlling of the money market will eventually control the situation.
How it has affected India?
In the age of globalization, no country can remains isolated from the fluctuations of world economy. Heavy losses suffered by major International Banks is going to affect all countries of the world as these financial institutes have their investment interest in almost all countries.
As of now India is facing heat on three grounds: (1) Our Share Markets are falling everyday, (2) Rupee is weakening against dollars and (3) Our banks are facing severe crash crunch resulting in shortage of liquidity in the market.
Actually all the above three problems are interconnected and have their roots in the above-mentioned global crisis.
For the last two years, our stock market was touching new heights thanks to heavy investments by Foreign Institutional Investors (FIIs). However, when the parent companies of these investors (based mainly in US and Europe) found themselves in a severe credit crunch as a result of sub-prime mess, the only option left with these investors was to withdraw their money from Indian Stock Markets to meet liabilities at home. FIIs were the main buyers of Indian Stocks and their exit from the market is certain to wreak havoc in the market. FIIs who were on a buying spree last year, are now in the mood of selling their stocks in India. As a result our Share Markets are touching new lows everyday.
Since, the money, which FIIs get after selling their stocks, needs to be converted into dollars before they can sent it home, the demands for dollars has suddenly increased. As more and more FIIs are buying dollars, the rupee is loosing its strength against dollar. As long as demands for dollars remain high, the rupee will keep loosing its strength against dollar.
The current financial crisis has also started directly affecting Indian Industries. For the past few years, the two most preferred method of raising money by the companies were Stock Markets and external borrowings on low interest rates. Stock Markets are bleeding everyday and it is not possible to raise money there. Regarding external borrowing from world markets, this option has also become difficult.
In the last fiscal year alone, India borrowed $29 billion from foreign lenders and got $34 billion of foreign direct investment. A global recession has hurt external demand. International lenders who have become extremely risk aversive can limit access to international capital. If that happens, both India’s financial markets and the real economy will be hurt in the process. Suddenly, the 9% growth target does not seem that ‘doable’ any more; we should be happy to clock 7% this fiscal year and the next.
However, one positive point in favor of India is the fact that Indian Banks are more or less secured from the ill-effects of sub-prime mess. A glance at Indian banks’ balance sheets would show that their exposure to complex instruments like CDOs is almost nil. In India, still the major banking operations are in the hands of Public Sector Banks who exercise extreme cautions in disbursing loans to needy people/companies. As a result, we are not likely to see a repeat of sub-prime crisis in India. Though there have been a presence of big US/European Banks in India and even some Indian banks (like ICICI) have some foreign subsidiary with stake in the sub-prime losses, there presence is miniscule as compare to the overall size of Indian banking industry. So at least on this major front we need not worry much.
However, a global depression is likely to result in a fall in demand of all types of consumer goods. In 2007-08, India sold 13.5% of its goods to foreign buyers. A fall in demand is likely to affect the growth rate this year. Our export may get affected badly.
A negative atmosphere, shortage of cash, fall in demands, reducing growth rate and uncertainties in the market are some of the most visible aspects of an economic depression. What started as a small matter of sub-prime loan defaulters has now become a subject of global discussion and has engulfed the global economy scenario.
Humanoid Robot Reem-b
Humanoid Robot Reem-b
source: wikipedia,pal-robotics,albawaba.
A humanoid robot is a robot with its overall appearance based on that of the human body. In general humanoid robots have a torso with a head, two arms and two legs, although some forms of humanoid robots may model only part of the body, for example, from the waist up. Some humanoid robots may also have a 'face', with 'eyes' and 'mouth'. Androids are humanoid robots built to resemble a male human, and Gynoids are humanoid robots built to resemble a human female.Read more about Humanoid Robot in Wikipedia.
REEM-B is the evolution of the first humanoid created by Pal Technology Robotics, the REEM-A. The first prototype was designed to play chess with the Hydra chess engine and to be used as development platform. With REEM-B, Pal Technology comes astonishingly close to its final goal; to create a humanoid service robot that will be able to help humans in the future with sophisticated tasks.
Reem B has the unique ability to map and self localize itself, both elements that distinctly set it apart from Reem A. Although both robots can perform face recognition, object recognition, voice recognition, walking and playing chess, Reem B can also converse with humans, walk dynamically, recognize and grasp objects, accept voice commands, and even remind appointments like secretary.
Reem B is also able to carry up to 25% of its weight, making it the world’s strongest humanoid robot. In addition, the 1.47 meter tall robot has a fingered hand with 12 motors, and is able to maneuver up and down stairs, with added sensors to ensure that it avoids any obstacles. Reem B also boasts the longest battery autonomy of any robot – an impressive 120 minutes.
Mr Davide Faconti from Pal Technology said: “Our dedicated team of engineers has worked hard for four long years to get to where we are today. This is an extremely proud moment for all of those who have worked tirelessly in helping to develop Reem B. The event will showcase a number of Reem B’s advanced skills, including the ability to proficiently navigate a room and steer around obstacles.”
Mr Basar Shueb, General Manager of Pal Technology said: “Pal Technology’s ultimate goal is to create a truly useful humanoid service robot that will be able to help humans in the future with sophisticated tasks. Reem B is clearly aligned with this vision, not only representing the next generation of humanoid robotics, but a robot designed to assist people and not replace them.”
About Pal technology
PAL Technology is engaged in the research and development of high end products and technologies in the field of microelectronics, sophisticated mechatronics engineering & designing, artificial intelligence, multitasking computer programming and different prospects of renewable energy. PAL Technology is continuously investing in the field of research & development through its local and foreign collaborations in order to add value engineering to its current project as well as development of new gamut.
About Hacking and hackers
Is Gary McKinnon a Cyber-Terrorist ?
Well ! I think there is need to introduce Mr.Gary McKinnon ,the british HACKER who hacked 97 US Military and Nasa computers from his north LONDON home.
Gary McKinnonn, also known as Aka Solo, was born in Glasgow in 1966. Gary got his first computer when he was 14 years old, and has been a hobbyist ever since. He left school at 17, and became a hairdresser. But, in the early 1990s, some friends convinced him to get a qualification in computers. After completing a course, he started doing contract work in the computing field.By the late 1990s, Mr McKinnon decided to use his hacking skills to do what he calls "research" on an issue he firmly believes in. He tried to hack different unauthorised systems using different hacking tools.
The US government alleges that between February 2001 and March 2002, the 40-year-old computer enthusiast from north London hacked into dozens of US Army, Navy, Air Force, and Department of Defense computers, as well as 16 Nasa computers.It says his hacking caused some $700,000 dollars(£375,235) worth of damage to government systems.
What's more, they allege that Mr McKinnon altered and deleted files at a US Naval Air Station not long after the terrorist attacks on September 11, 2001 and that the attack rendered critical systems inoperable.The US government also says Mr McKinnon once took down an entire network of 2,000 US Army computers. His goal, they claim, was to access classified information.
In July 2005, Mark Summers, another official representing the US government, told a London court that Mr McKinnon's hacking was "intentional and calculated to influence and affect the US government by intimidation and coercion".McKinnon was originally tracked down and arrested under the Computer Misuse Act by the UK National Hi-Tech Crime Unit (NHTCU) in 2002 who informed him that he would face community service. The Crown Prosecution Service refused to charge him. Later that year he was indicted by the United States government. McKinnon remained at liberty without restriction for three years until June 2005 (after the UK had implemented a new extradition treaty with the US) when he became subject to bail conditions including a requirement to sign in at his local police station every evening, and to remain at his home address at night. In addition he was banned from using a computer with access to the Internet. There have been no more developments in respect of the charges relating to United Kingdom legislation but in late 2005 the United States began extradition proceedings.
If he is extradited to the US and charged, McKinnon faces up to 70 years in jail and has expressed fears that he could be sent to Guantanamo Bay. He has said that he will contest the extradition proceedings and believes that he should face trial in the UK, principally as he argues that any alleged crimes were committed there and not in the United States.
Following legal hearings in the UK it was decided in July 2006 that he should be extradited to the United States. In February 2007 his lawyers argued against the ruling in an appeal to the High Court in London, which was turned down on April 3. He still has the possibility of appealing to the House of Lords, and his lawyer has stated that he will do this, using the argument that because the alleged offences were committed in the UK this is where he should be tried. On July 31, 2007 the House of Lords agreed to hear the appeal.
Click here to view the official report of US department of Justice indictment for Gary McKinnon, this report consists of all crimes that US claims against Gary.
His supporters even started a blog aiming US to free Gary from extradition.
McKinnon responds to media in various occations-few of them reports as-
Gary never denied accessing the computer networks between February 2001 and March 2002. He has always maintained that he was motivated by curiosity and only managed to get into the networks because of lax security.
In a BBC interview in 2005-
Mr McKinnon said that he was not a malicious hacker bent on bringing down US military systems, but rather more of a "bumbling computer nerd".He said he's no web vandal, or virus writer, and that he never acted with malicious intent.But he did admit that he hacked into dozens of US government computer systems. In fact, he calmly detailed just how easy it was to access extremely sensitive information in those systems.
"I found out that the US military use Windows," said Mr McKinnon in that BBC interview. "And having realised this, I assumed it would probably be an easy hack if they hadn't secured it properly."
Using commercially available software, Mr McKinnon probed dozens of US military and government networks. He found many machines without adequate password or firewall protection. So, he simply hacked into them.
Regarding UFO search, Gary reportedly feels that US is hidding certain info from the world as he says-
"It wasn't just an interest in little green men and flying saucers," said Mr McKinnon. "I believe that there are spacecraft, or there have been craft, flying around that the public doesn't know about."
He further explained that he believes the US military has reverse engineered an anti-gravity propulsion system from recovered alien spacecraft, and that this propulsion system is being kept a secret.
In that sense, Mr McKinnon said he sees his own hacking as "humanitarian." He said he only wanted to find evidence of a UFO cover-up and expose it. He called the alleged anti-gravity propulsion system "extra-terrestrial technology we should have access to".
As he added-"I wanted to find out why this is being kept a secret when it could be put to good use," he said in the BBC interview last year.
He siad-"I'd stopped washing at one point. I wasn't looking after myself. I wasn't eating properly. I was sitting around the house in my dressing gown, doing this all night."
Thus, Gary McKinnon's search turned into an obsession, an addiction. As he probed high-level computer systems in the United States, his life in Britain fell apart. He lost his job, and his girlfriend dumped him. Friends told him to stop hacking, but to no avail.Eventually, Mr McKinnon got sloppy. He started leaving behind clues. At one point, Mr McKinnon began posting anti-war diatribes on the screens of the US government computers that were his targets. He has insisted, however, that he never attempted to sabotage any operations.
Few people felt that-
Hackers and other hi-tech vandals should be punished for their crimes, but questioned whether Mr McKinnon's treatment had been "fair" as so far the evidence presented by the US against him had not been contested in court.
Slightly more than 50% of 500 IT professionals polled online by computer security firm Sophos said that Mr McKinnon should not be extradited to the US.
A decision in the case was originally due in February 2006 but was postponed as the UK sought assurances from the US about some issues in the case.
The UK wanted to be sure that Mr McKinnon would not face a military tribunal, will be eligible for parole and that he would not serve his sentence at Guantanamo Bay.
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