B4U India

COLORS launches India''''s first cricket-format show ''''Ek Khiladi Ek Hassena''''

Thu, 18 Sep 2008 04:30:00 -0400

After having redefined the weekday viewing in the General entertainment category (GEC), with a variety of fiction and non fiction shows, COLORS now gears up with its new weekend prime time extravaganza, ''''Ek Khiladi Ek Hasina'''' - India''''s first cricket-format show.

Ek Khiladi Ek Hasina is a potent combination of two of India''''s biggest passions - cricket and glamour and will team-up some of India''''s leading present-day-cricketing-heroes with some of the most beautiful ladies from Indian television, to fight it out.not on the grass, but on the dance-floor.

And judging them will be none other than the vivacious Sushmita Sen and the dashing Wasim Akram. Premiering on September 26, the show will air on COLORS every Friday and Saturday at 9:00 pm.

This unique cricket-format show, ''''Ek Khiladi Ek Haseena'''' will feature Sreesanth teamed with Surveen Chawla, Harbhajan with Mona Singh, Irfan Pathan with Ashima Bhalla; Dinesh Karthik with Nigar Khan; Nikhil Chopra with Barkha Bisht and Vinod Kambli with Shama Sikander.

So, get ready to see your cricketing heroes like you''''ve never seen them before - dancing to the tunes of popular tracks, along with their respective partners. This is surely one battle you don''''t want to miss - its Swing Vs Spin, experience Vs raw energy, right-hander Vs left-footed and its antics Vs talent.

Announcing ''''Ek Khiladi Ek Haseena'''', Rajesh Kamat, Chief Executive Officer - COLORS, says "Ek Khiladi Ek Hasina is another differentiated offering from COLORS that will significantly consolidate our position over the weekends." He further added, "Given the unique format, Ek Khiladi Ek Hassena is sure to find universal appeal across demographics and will entertain the cricket-lovers as well as the showbiz-fans, equally."

The jury of ''''Ek Khiladi Ek Hassena'''' is surely as unique as the show concept. One is the former beauty queen who after her first ''''Dastak'''' in Bollywood has made a ''''Mast Mahaul'''' for herself- Sushmita Sen, who now makes her maiden appearance on the small screen. The other is the tall and dashing all rounder, who the opposition once feared - Wasim Akram, former Pakistan captain, in his first ever television appearance, outside the commentary box.

That''''s not all - Hosting this dance reality show is Sandhaya Mridul who herself is hugely popular for her dancing skills apart from her intense role as an actress. The title track of the show has been composed by the gifted duo Salim Suleiman and Kunal Ganjawala brings it to life with his powerhouse vocals.

This distinctive format will see six pairs battle it out; the voting pattern will follow 50:50 ratio for the jury and in studio audiences. The highest scoring couple finds himself in the ''''Safe Zone'''' while the couple with the lowest scores challenges any two pairs of their choice from the remaining lot in the challenger round. The winner takes home a cash prize of Rs 25 lakhs.

COLORS Programming Head, Ashvini Yardi elaborates, “We''''ve all grown up idolizing our cricketing heroes. I am sure that after ''''Ek Khiladi Ek Hassena'''', we''''d be practicing their steps as well.”

Speaking on her experience on the show, honorable judge Sushmita Sen said, “A channel that dares to think out of the box and does so making it a whole lot of fun is a rarity! I hope COLORS continues to paint its viewers lives with all its shows. Ek Khiladi Ek Haseena as unique as a concept as it is will be a decision I will always cherish. To witness my cricketing heroes attempt something that isn''''t their forte at all, with as much zeal and heartfelt enthusiasium as they did was overwhelming and great fun, making it such a pleasure to judge the show! To sum it up, I would say what I have often said on the show.”

An excited Wasim Akram on his role as a jury member said, “Ek Khiladi Ek Haseena as a show is something very different and such a show can never happen again on television as they have managed to get present day cricketers whose top most passion is cricket and COLORS has got them to participate in this show. It was an incredible experience and I enjoyed every moment of it. The cricketers along with Sen add to the uniqueness of the show.”

Ek Khiladi Ek Haseena introduces our celebrated cricketers on a new ground; this time on the dance floor which they are all set to burn in the company of some our most adored beauties. Viewers will witness for the first time ever men in blue groove to the music instead of the googlies. Twenty20 is passé now, as some of our cricketers battle each other with their respective partners every weekend for the ultimate dance title.

Ajit Thakur, COO, UTV Television, said, “Ek Khiladi Ek Haseena as a concept is very close to our heart and in COLORS we found the perfect partner for our ambitious project. In a country obsessed with cricket and showbiz stars, it does not get bigger than this. It was a complete roller coaster ride as we went on the floor with the project!” (ANI)

Citi and Andhra Bank enter remittance services alliance

Thu, 18 Sep 2008 04:30:00 -0400

Citi''s Global Transaction Services has been appointed by Andhra Bank in India to provide a range of white-labeled global remittance services.

Under the mandate, Andhra Bank will gain access to QuikRemit, Citi''s white labeled and customized remittance platform for banks, corporations and money transfer organizations, to enable end-to-end electronic remittance transfers between India and other global markets.

By white labeling Citi''s QuikRemit platform, Andhra Bank can offer its clients a single solution whereby they can efficiently and securely remit money internationally to India.

To enable this process, Citi will also provide technology support for its global remittances solution. For Andhra Bank''s international remittances business, Citi will also act correspondent bank and assist in clearing and collection of remittance flows.

This white labeled solution covers global remittance transactions via credit cards, debit cards and US-originating account debits using the Automated Clearing House (ACH) mechanisms.

QuikRemit will also allow Andhra Bank to process global remittance transactions originating from strategic markets Canada and UK, where there exists large Non-Resident Indian communities.

For Citi, the mandate marks a landmark for the Global Transaction Services franchise in India. The deal marks the first time Citi has white labeled a global remittances solution for a public sector bank in India and follows other significant wins for Global Transaction Services in this space regionally.

R.S. Reddy, Chairman and Managing Director of Andhra Bank said: “Andhra Bank and Citi have a long-standing relationship that will only gain strength through this new alliance. By committing to this landmark partnership we are extremely pleased to offer our clients premium global remittance services in India and globally, and leverage the experience of Citi.”

Commenting on the landmark mandate win, Akash Rathke, Managing Director and Regional Head of Citi''s Bank Services and Public Sector Group said: “This is an extremely significant achievement for Global Transaction Services in India, marking a major collaboration between ourselves and a highly visible and nationwide public sector bank. Providing Andhra Bank with market-leading global remittance capabilities is in line with our white labeling strategy in India and regionally, and we are proud to partner with such a progressive financial institution.”

Ashish Bajaj, Managing Director, Global Transaction Services Head for India, Sri Lanka and Bangladesh said: “Citi is extremely honored to partner with Andhra Bank in the fast growing area of global remittances. Our endeavor is to constantly support Andhra Bank through our technology, solutions and expertise, in their effort to provide a first-in-class service to their customers and to maintain their leading edge in offering remittance services to their international and domestic customers.” (ANI)

Indian bankers see little impact of Lehman collapse but stock analysts differ

Thu, 18 Sep 2008 04:29:00 -0400

While Indian bankers do not see much impact from the exposure to Lehman brothers, market analysts do not rule out immediate repercussions of the fallout on the Indian stocks.

It is official now that the sub prime crisis is no longer confined to either the US market or just the mortgage market, but the reverberations are being felt world over and across all financial services.

A failed investment banking firm- Lehman brothers is for sure spelling troubles for the Indian companies that have invested in the company.

Japan, Australia and India pumped 33 billion dollar into money markets on Wednesday as a U.S. government rescue of insurer AIG failed to soothe frayed nerves and ease a funding squeeze triggered by the crisis engulfing Wall Street.

Across Asia, which has been largely shielded from the worst of the credit crisis, central banks were bracing for more market turmoil.

Experts said that with the collapse of a giant investment banker like Lehman brothers, the impact is felt all around.

“The problem is really severe, Lehman brothers, even Tata AIG after that also had big problems, first it demanded 20 billion dollar, then it demanded 40 billion dollar, then 80 billion dollar from the Federal Reserve Bank (US Fed), so what we can come to a conclusion is that the problem in US is grave, somehow I don''t know why but it could not be foreseen by the best of the people sitting there. And how much it would take from here is very difficult to say because the figures are not known, the quantum is not known, the exposure is not known completely, but it will definitely have a very bad impact. In the US, it is happening, it will slow the economy and obviously will have effect on other markets as well,” said Ankit Ajmera, market analyst.

Lending between banks nearly seized up this week after the global credit crisis pushed Lehman brothers to seek bankruptcy protection, Merrill Lynch into the arms of Bank of America and insurer American International Group Inc to the brink of collapse -- all during one tumultuous weekend.

The Federal Reserve, which supplied an 85 billion dollar bridge loan to rescue AIG, disappointed investors who had bet that it would follow its injection of emergency funds with an interest rate cut.

Neither investors nor policymakers showed much signs of confidence that markets would return to normal any time soon.

Asian stocks and the dollar initially rallied on news that the global financial system would be spared the collapse of AIG- the insurance giant that operates in 130 countries.

But shares gave up their early gains and cash remained tight in money markets with no end in sight to the 13-month old credit crisis.

Capital has been fleeing emerging markets as investors stung by the upheaval on Wall Street shun risky assets. Seoul has spent more than 30 billion dollar this year to support the won, which has tumbled 17 per cent in 2008 against the dollar.

The Reserve Bank of India (RBI) has sprung regularly to the rupee''s defense, buying it in the currency market and exacerbating a shortage of local currency.

After the rupee''s biggest one-day fall in a decade on Tuesday, the RBI said it would make it easier for banks to get cash. On Wednesday, it injected 47.36 billion rupees into the banking system at the first of its tenders. (ANI)

Kamal Nath takes a dig at US financial crisis

Wed, 17 Sep 2008 04:20:00 -0400

Commerce and Industry Minister Kamal Nath has said that the country is not impacted by the US financial crisis.

The US credit crisis worsened on Monday after the 158-year-old Lehman Brothers filed for bankruptcy protection.

Nath added that Indian markets were strong enough to overcome the US crisis.

"The US financial system is facing deep crisis and this is obviously going to impact Europe. The fact is that this is happening in United States. We are not been impacted by it. I think United States will have to ensure that their financial system comes again in the same orbit as the economy," he said on the sidelines of a meeting with the Export Promotion Council for EoUs and SEZs here.

India''s central bank on Tuesday said it had directed Lehman Brothers'' Indian primary dealership not to undertake transactions in government securities as a dealer in the primary market.

Lehman Brothers Fixed Income Securities had also been advised not to declare any interim dividend or remit any amount to its holding company or any other group company without the central bank''s prior approval, the Reserve Bank of India said in a statement issued late in the evening.

It said Lehman Brothers Capital, a non-banking financial company, would need prior approval from the central bank before contracting any direct or indirect liability from any institution in India or abroad or making any foreign currency remittance. (ANI)

Indian shares slump following global financial crisis

Tue, 16 Sep 2008 05:08:00 -0400

Shares of top outsourcing firms, which earn a key part of their revenues from the U.S. banking and financial services sector, continued to fall sharply on Tuesday.

Nifty, the benchmark of the National Stock Exchange (NSE), fell by 102 points to 3970.80, a slump of 2.51 per cent. And the Bombay Stock Exchange (BSE) benchmark Sensex slumped to 13,058 from Monday’s close, shedding 472.81 points.

Crude oil prices plunged to a seven-month low of less than 100 dollars a barrel due to gloom in U.S. financial services, which heightened concerns that energy demand may slow down.

Cutting across sectors Indian stocks went into a tailspin, witnessing another strong round of selling this morning. Realty stocks have taken a beating once again, going down by gone down by 4.86 per cent this morning. Metal, capital goods, power, PSU and IT stocks have also declined sharply.

Meanwhile, the rupee continued to lose out against the US currency and declined further, crossing the 46 mark to a dollar today.

Experts are terming these jitters a result of the overall market. The news that US finance major Lehman Brothers filed for bankruptcy protection and the precarious health of other companies weighed heavily on the market trends.

Many small investors feel that the trend is here to stay for at least a couple of days and things might improve next week.

"I think for another day or two, the situation would be bad and the markets would be on a downward trend. This is all because of the foreign markets and the worries there and then, now this Lehman Brothers bankruptcy. See, the Indian scenario is positive, gold is falling, crude is falling, property front is also good. People will come back," said Kailash Nath, an investor.

Many felt that this slump can prove to be a good investment opportunity for those who are looking at a long-term perspective.

Software firms, which have already been floundering on worries of the dollar''s rise against the euro and pound could impact revenue growth, have been tapping segments such as manufacturing, retail and aviation to cut their dependence on the financial services sector, which has been battered by the sub-prime crisis.

The impact of the credit crisis has been particularly acute in the United States, which accounts for more than half the revenue of the country’s top outsourcing firms.

Experts say that the problem is that there is hardly any improvement seen in the U.S. economy; on the contrary, the flow of negative news has increased. (ANI)