Hyderabad is the world’s second most affordable office market: Survey

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BANGALORE: Hyderabad is the world's second most affordable office market after Surabaya in Indonesia, according to a survey, while Chennai and Pune are at fifth and sixth positions, reinforcing India's reputation as among the cheapest destinations for foreign firms to set up operations.

"Tier II cities in China and India continue to dominate the list of top-10 most affordable markets globally," said a survey by consultancy firm DTZ, which measured occupancy costs per workstation in 126 business districts across 49 countries in 2012.

"2012 has seen office space absorption rates across Indian cities drop by a fifth. We expect the office space absorption to be stable in the current year, driven by signs of overall improvement in global and domestic economies. Rentals are also expected to appreciate across the country," said Rohit Kumar, head of research at DTZ India.

According to the survey, it costs companies between $2,620 (about Rs 1.41 lakh) and $9,810 (Rs 5.27 lakh) per annum per employee in the top six Indian cities to set up operations, compared with $23,500 (Rs 12.63 lakh) per workstation in London West End.

China's Chongqing and Nanjing, followed by Cancun in Mexico, also figure among the ten most affordable markets. As per the report, a majority of markets in North Asia and India saw a 2-10 per cent rise in occupancy costs. This has forced occupiers in many markets to increasingly consider secondary space, particularly where prime space is limited to cut cost.

The total commercial office space absorption for the quarter ended December 2012 was 6.8 million sq ft, a decrease of 19 per cent compared with the previous year. Vacancies across cities are expected to rise in 2013, except Bangalore, a recent report by DTZ India said.

"Companies continue to consolidate and relocate to less premium locations. Many firms are now looking to cut real estate costs, which comprises 22-27 per cent of the total operational expenditure, the second biggest component after human resource," said Sridhar Raghavendra, founder of FM Zone India, a real estate and facility management firm.

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Are Honeybees Losing Their Way?

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A single honeybee visits hundreds, sometimes thousands, of flowers a day in search of nectar and pollen. Then it must find its way back to the hive, navigating distances up to five miles (eight kilometers), and perform a "waggle dance" to tell the other bees where the flowers are.


A new study shows that long-term exposure to a combination of certain pesticides might impair the bee's ability to carry out its pollen mission.


"Any impairment in their ability to do this could have a strong effect on their survival," said Geraldine Wright, a neuroscientist at Newcastle University in England and co-author of a new study posted online February 7, 2013, in the Journal of Experimental Biology.


Wright's study adds to the growing body of research that shows that the honeybee's ability to thrive is being threatened. Scientists are still researching how pesticides may be contributing to colony collapse disorder (CCD), a rapid die-off seen in millions of honeybees throughout the world since 2006.


"Pesticides are very likely to be involved in CCD and also in the loss of other types of pollinators," Wright said. (See the diversity of pollinating creatures in a photo gallery from National Geographic magazine.)


Bees depend on what's called "scent memory" to find flowers teeming with nectar and pollen. Their ability to rapidly learn, remember, and communicate with each other has made them highly efficient foragers, using the waggle dance to educate others about the site of the food source.



Watch as National Geographic explains the waggle dance.


Their pollination of plants is responsible for the existence of nearly a third of the food we eat and has a similar impact on wildlife food supplies.


Previous studies have shown certain types of pesticides affect a bee's learning and memory. Wright's team wanted to investigate if the combination of different pesticides had an even greater effect on the learning and memory of honeybees.


"Honeybees learn to associate floral colors and scents with the quality of food rewards," Wright explained. "The pesticides affect the neurons involved in these behaviors. These [affected] bees are likely to have difficulty communicating with other members of the colony."


The experiment used a classic procedure with a daunting name: olfactory conditioning of the proboscis extension reflex. In layman's terms, the bee sticks out its tongue in response to odor and food rewards.


For the experiment, bees were collected from the colony entrance, placed in glass vials, and then transferred into plastic sandwich boxes. For three days the bees were fed a sucrose solution laced with sublethal doses of pesticides. The team measured short-term and long-term memory at 10-minute and 24-hour intervals respectively. (Watch of a video of a similar type of bee experiment.)


This study is the first to show that when pesticides are combined, the impact on bees is far worse than exposure to just one pesticide. "This is particularly important because one of the pesticides we used, coumaphos, is a 'medicine' used to treat Varroa mites [pests that have been implicated in CCD] in honeybee colonies throughout the world," Wright said.


The pesticide, in addition to killing the mites, might also be making honeybees more vulnerable to poisoning and effects from other pesticides.


Stephen Buchmann of the Pollinator Partnership, who was not part of Wright's study, underscored how critical pollinators are for the world. "The main threat to pollinators is habitat destruction and alteration. We're rapidly losing pollinator habitats, natural areas, and food—producing agricultural lands that are essential for our survival and well being. Along with habitat destruction, insecticides weaken pollinators and other beneficial insects."


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Dorner Not IDed, But Manhunt Considered Over

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Though they have not yet identified burned remains found at the scene of Tuesday's fiery, armed standoff, San Bernardino, Calif., officials consider the manhunt over for Christopher Dorner, the fugitive ex-cop accused of going on a killing spree.


"The events that occurred yesterday in the Big Bear area brought to close an extensive manhunt," San Bernardino County Sheriff John McMahon told reporters this evening.


"I cannot absolutely, positively confirm it was him," he added.


However, he noted the physical description of the suspect authorities pursued to a cabin at the standoff scene, as well as the suspect's behavior during the chase and standoff, matched Dorner, 33.


The charred remains of the body believed to be Dorner were removed from the cabin high in the San Bernardino Mountains near Big Bear, Calif., the apparent site of Dorner's last stand. Cornered inside the mountain cabin Tuesday, the suspect shot at cops, killing one deputy and wounding another, before the building was consumed by flames.


"We did not intentionally burn down that cabin to get Mr. Dorner out," McMahon said tonight, though he noted pyrotechnic canisters known as "burners" were fired into the cabin during a tear gas assault in an effort to flush out Dorner. The canisters generate high temperatures, he added.


The deputies wounded in the firefight were airlifted to a nearby hospital, where one died, police said.








Christopher Dorner Believed Dead After Shootout with Police Watch Video









Carjacking Victim Says Christopher Dorner Was Dressed for Damage Watch Video









Christopher Dorner Manhunt: Inside the Shootout Watch Video





The deceased deputy was identified tonight as Det. Jeremiah MacKay, 35, a 15-year veteran and the father of two children -- a daughter, 7, and son, 4 months old.


"Our department is grieving from this event," McMahon said. "It is a terrible deal for all of us."


The Associated Press quoted MacKay on the Dorner dragnet Tuesday, noting that he had been on patrol since 5 a.m. Saturday.


"This one you just never know if the guy's going to pop out, or where he's going to pop out," MacKay said. "We're hoping this comes to a close without more casualties. The best thing would be for him to give up."


The wounded deputy, identified as Alex Collins, was undergoing multiple surgeries for his wounds at a hospital, McMahon said, but was expected to make a full recovery.


Before the final standoff, Dorner was apparently holed up in a snow-covered cabin in the California mountains just steps from where police had set up a command post and held press conferences during a five-day manhunt.


The manhunt for Dorner, one of the biggest in recent memory, led police to follow clues across the West and into Mexico, but it ended just miles from where Dorner's trail went cold last week.


Residents of the area were relieved today that after a week of heightened police presence and fear that Dorner was likely dead.


"I'm glad no one else can get hurt and they caught him. I'm happy they caught the bad guy," said Ashley King, a waitress in the nearby town of Angelus Oaks, Calif.


Hundreds of cops scoured the mountains near Big Bear, a resort area in Southern California, since last Thursday using bloodhounds and thermal-imaging technology mounted to helicopters, in the search for Dorner. The former police officer and Navy marksman was suspected to be the person who killed a cop and cop's daughter and issued a "manifesto" declaring he was bent on revenge and pledging to kill dozens of LAPD cops and their family members.


But it now appears that Dorner never left the area, and may have hid out in an unoccupied cabin just steps from where cops had set up a command center.






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Obama urges a move away from narrow focus on politics of austerity

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Just about every argument in Washington since the 2010 midterm elections, which returned control of the House to Republicans, has centered on reducing the federal deficit. On Tuesday night, President Obama leaned into his second term by declaring that a single-minded focus on deficit reduction would jeopardize the nation’s future. And he sounded an urgent call to rebuild.


Reelected by an ascendent coalition, the president spoke from a position of strength in his fourth State of the Union address. The economy is improving. The Republican Party is in disarray. The time has come, Obama indicated, to pivot away from the politics of austerity.


“Most of us agree that a plan to reduce the deficit must be part of the agenda,” he said. “But let’s be clear: Deficit reduction alone is not an economic plan. A growing economy that creates good middle-class jobs — that must be the North Star that guides our efforts.”

The president rejected the fiscal brinkmanship that defined the past two years. Instead, he framed future fiscal debates as opportunities to shape a “smarter government” — one with new investments in science and innovation, with a rising minimum wage, with tax reform that eliminates loopholes and deductions for what the president labeled “the well-off and well-connected.”

Second-term presidents have a narrow window of time to enact significant change before they become lame ducks, and Obama, while echoing campaign themes of reinforcing the middle class, made an urgent case for a more pragmatic version of populism, one that emphasizes economic prosperity as the cornerstone of a fair society.

Over and over, he noted that the time to rebuild is now.

The “Fix-It-First” program that Obama outlined to put people to work on “urgent repairs,” such as structurally deficient bridges, bore echoes of President Bill Clinton’s call in his 1999 State of the Union address to “save Social Security first.” Clinton’s was an effective line, one that stopped — at least until President George W. Bush took office two years later — a Republican drive to use the budget surplus to cut taxes.

Although Obama’s speech lacked the conciliatory notes of some of his earlier State of the Union addresses, he did make overtures to Republicans and cited Mitt Romney, his presidential challenger, by name.

He combined tough talk about securing the border, which brought Republicans to their feet, with a pledge to entertain reasonable reforms to Medicare, the federal entitlement program that fellow Democrats are fighting to protect.

“Those of us who care deeply about programs like Medicare must embrace the need for modest reforms,” he said.

Obama also pledged to cut U.S. dependence on energy imports by expanding oil and gas development. And he singled out one area where he and Romney found agreement in last year’s campaign: linking increases in the minimum wage to the cost of living.

Obama set a bipartisan tone at the start of his speech, quoting from President John F. Kennedy’s address to Congress 51 years earlier when he said, “The Constitution makes us not rivals for power, but partners for progress.”

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Man charged with causing death of colleague through negligence

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SINGAPORE: A man has been charged with causing the death of his 62-year-old colleague through negligence.

T Magesvaran A/L Tambisamy, 39, is accused of causing fellow production worker, Fan Chow Lin's death on 10 October 2012 at Idemitsu Lube Singapore in Pandan Road.

The alleged incident took place when the accused was operating the forklift to lift a tote tank designed to hold up to 2000 litres of liquids.

While doing so, Magesvaran is said to have mistakenly stepped on the accelerator instead of the brake, therefore causing the forklift to move forward and knocking into the tank.

Mr Fan was crushed between two tanks.

For causing a man's death due to negligence, the accused faces the maximum penalty of a jail term of up to two years and a fine.

- CNA/ck



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Indian tender twisted to favour Italian firm: Prosecutors

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BUSTO ARSIZIO, ITALY: Three brothers with family ties to a former head of the Indian air force helped to twist rules in a helicopter tender won by Italy's AgustaWestland, prosecutors alleged in an arrest warrant for a top Italian businessman.

Italian prosecutors said in the warrant reviewed by Reuters on Tuesday that two managers at AgustaWestland, a unit of defence group Finmeccanica, paid go-betweens to help it win the 2010 contract to supply 12 helicopters to India.

Part of these payments ended up with the three Indian brothers, Juli, Docsa and Sandeep Tyagi, whose cousin Sashi Tyagi was former Indian air force chief. None of the Tyagis has been accused of wrongdoing by officials in India.

In a growing corruption scandal, police arrested on Tuesday AgustaWestland's former chief executive Giuseppe Orsi, who now heads Finmeccanica Orsi and denies any wrongdoing over the 556-million-euro deal.

The case, which is still in its preliminary investigation phase, has rocked Italy before parliamentary elections on February 24-25, and also in India, the world's largest weapon importer.

Prosecutors in the northern town of Busto Arsizio, near AgustaWestland's headquarters, said Orsi hired US-born Guido Ralph Haschke, who was then a consultant for the Finmeccanica group, to lead dealings in India to secure the contract.

Haschke and his partner Carlo Gerosa, prosecutors said, had close ties with the Tyagi brothers.

Prosecutors allege that Orsi, along with the current chief executive of AgustaWestland Bruno Spagnolini, paid 400,000 euros in consultancy fees to Haschke and Gerosa. "Of this, 100,000 euros in cash were given to the Tyagi brothers," they said in the 65-page warrant.

The money went to the brothers to pressure Indian officials and help doctor the tender terms to favour the specification of AgustaWestland's helicopters, the prosecutors alleged.

The tender was changed to accommodate AgustaWestland by, among other things, lowering required altitudes where the helicopters could operate to 15,000 feet from 18,000 feet, "thus allowing AgustaWestland, which otherwise would not even have been able to present an offer, to take part in the tender", the warrant said.

The tender terms were also changed to introduce an engine failure flying test. This favoured AgustaWestland as its helicopters were the only ones in the tender operating with three engines.

Orsi's lawyer said his client denied distributing any money or pocketing a single euro, adding that the investigation did not provide any evidence of illicit payments. AgustaWestland said on Tuesday it supported Spagnolini who was placed under house arrest.

The warrant also covered Haschke and Gerosa. Neither has been arrested as they are in Switzerland. A lawyer for Haschke, contacted by reporters, declined to comment on the case while Gerosa could not be reached for comment.

Reuters was not immediately able to locate the Tyagi brothers, nor Sashi Tyagi.

Sashi Tyagi, head of India's air force from 2004-2007, in November told a news weekly that he had no memory of the issue. The warrant did not explain how Tyagi might have been involved in a deal completed after he had left his post.

The investigation into Finmeccanica, which started more than a year ago, is one of a series of corruption scandals in defence dealmaking in India. Defence minister A K Antony has ordered an inquiry into the deal to be conducted by the Central Bureau of Investigation, the country's federal police force.

The arrests over Indian bribery allegations come as Finmeccanica unit Alenia Aermacchi hopes to compete for a contract to supply over 50 military transport aircraft to India in competition with European aerospace group EADS.

According to specialist defence publication IHS Jane's, Alenia would build 40 of the 56 C-27J Spartan airlifters in India and use the same assembly line to meet future regional demand for tactical air transport.

The military arm of EADS subsidiary Airbus told Reuters last week it would offer its C295 military transport plane as an alternative, adding that manufacturers were waiting for a formal competition document from the Indian government.

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Your Shot: Blizzard Photos From Our Readers

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State of the Union: Obama Pushes Job Creation

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Pursuing an aggressive and diverse early second-term agenda, President Obama turned his focus Tuesday night squarely to the economy, using his State of the Union address to unveil new government initiatives aimed at creating jobs.


The defining duty of the new Congress and new administration is to "reignite the true engine of America's economic growth -- a rising, thriving middle class," Obama said Tuesday night from the House chamber.


"That must be the North Star that guides our efforts," he said.


Obama's proposals had a familiar ring, including re-packaged economic ideas but also offering several bold new measures aimed at boosting the middle class.


None of the proposals would add to the deficit "by a single dime," Obama pledged, with costs offset by savings carved out in the budget and from money saved from ending two wars.


"It's not a bigger government we need, but a smarter government that sets priorities and invests in broad-based growth," Obama said.


For the first time as president, Obama called for raising the minimum wage from $7.25 to $9.00 an hour by 2015. He proposed to ensure future increases by indexing the minimum wage to inflation.


He proposed a national goal of universal pre-school education, an effort to help states provide tens of thousands of low- to middle-income four-year-old children access to quality public education from an earlier age.






Charles Dharapak/Pool/AP Photo











Obama: A Rising Middle Class Should Be 'North Star' Watch Video









Obama Wants Minimum Wage: 'A Wage You Can Live On' Watch Video









Obama Announces Afghanistan Troop Withdrawal Watch Video





And, to heal the nation's crumbling roads and bridges, Obama offered a $50 billion "fix it first" infrastructure program that would prioritize repair of existing structures before building new ones.


"Every day, we should ask ourselves three questions as a nation," Obama said. "How do we attract more jobs to our shores? How do we equip our people with the skills needed to do those jobs? And how do we make sure that hard work leads to a decent living?"


Answers to those questions, the president suggested, include redoubling investments in clean energy technologies -- a step which he said would both benefit the environment and reduce U.S. dependence on foreign oil.


"For the sake of our children and our future, we must do more to combat climate change," he said.


He called for doubling the amount of renewable electricity generation in the U.S. by 2020, and announced an energy version of his "Race to the Top" education program that would give states grants for the best energy efficiency programs.


Related: 7 Things Obama Says at Every State of the Union


In tandem with his economic focus, Obama announced the withdrawal of 34,000 U.S. troops from Afghanistan by this time next year, cutting in half the current force and marking a quickened pace for the final exit of U.S. combat forces by a 2014 deadline.


There are currently 66,000 U.S. troops serving in Afghanistan. Obama has vowed to bring nearly all of them home by the end of next year, though a small contingent will likely remain to train Afghan forces and assist counterterrorism operations, officials have said.


Obama touched briefly on his recently-unveiled proposals to overhaul the nation's immigration system, expand rights for gay and lesbian Americans and curb an epidemic of gun violence.


With dozens of victims of gun violence looking on from the House gallery, including former Rep. Gabby Giffords, and families of victims from shootings at Newtown, Conn., Oak Creek, Wisc., and Aurora, Colo., Obama made an emotional plea for an up-or-down vote on his gun control plan.


"Each of these proposals deserves a vote in Congress," he said of proposed restrictions on assault-style weapons and high capacity magazines, and enhanced background checks, among other measures.


"If you want to vote no, that's your choice," he said. "But these proposals deserve a vote. Because in the two months since Newtown, more than a thousand birthdays, graduations and anniversaries have been stolen from our lives by a bullet from a gun."


Read More: President Obama's Past State of the Union Promises






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Impact of State of Union speeches isn’t very lasting

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When President Obama delivers his fourth State of the Union speech Tuesday night, he is guaranteed an audience of millions of viewers, the rapt of attention of Beltway reporters and issues advocates, and for at least an hour, the undivided attention of Congress.


What isn’t guaranteed is any lasting impact.


Rarely have State of the Union addresses moved public opinion, and rarely have they led to the kind of broad legislative accomplishments that presidents propose. For all the ritual and attention surrounding these speeches, the State of the Union is, well, sort of lame.

“Most of the speeches can be summarized in three words: boring, boring, boring,” said Allan Lichtman, author of “The 13 Keys to the Presidency.” “They tend to be laundry lists. But sometimes they rise above that.”

Mandated by the Constitution, the State of the Union, for much of its history, was not a speech at all but a written list of policy recommendations handed to Congress. Now, the addresses are grand political theater and provide a rare chance for a president to make an unfiltered argument and lay out policy ambitions from the biggest bully pulpit he will have all year.

Billed as a coda to his second inauguration, Obama’s speech will focus on the economy and the middle class — he is set to propose spending public money on education, research and infrastructure — as well as touch on immigration and gun control.

He will spend the remainder of the week giving repackaged versions of his address, looking to capi­tal­ize on the moment and further underscore his priorities.

“The State of the Union is a Super Bowl-like political event. The key to fully leveraging it is to make sure that it doesn’t become a one-off but contains a big-idea thematic animated by some specific proposals,” said Chris Lehane, a Democratic strategist who worked for President Bill Clinton. “If the speech is not approached like that, it risks becoming a pupu platter moment — lots of tasty dishes, but you won’t be filled up for the long term.”

Although interest groups and lobbyists, inside and outside the administration, spend time trying to get the briefest of mentions of their pet causes in the speech before an audience of about 40 million, there are few legislative payoffs to show for all their efforts.

President George W. Bush used the first State of the Union speech of his second term to call for privatizing Social Security, an effort that hit a brick wall in Congress and nationwide.

In his 2012 speech, Obama proposed that every state require that students stay in high school until they graduate or turn 18, a recommendation that also fell flat.

Obama used that address to make his argument for reelection, touching on themes of fairness and economic equality that would undergird his campaign stump speeches. But there have been few memorable lines or themes from Obama’s addresses on par with Clinton’s 1996 pronouncement that “the era of big government is over” or Bush’s “axis of evil” reference from 2002.

“His speeches have tended to be about half looking back and half looking forward. And that’s a style you can choose in a State of the Union — how much of the speech is going to be devoted to where we are today, how far we’ve come and so forth, versus something more visionary and using your time to look forward,” said Chriss Winston, a speechwriter for President George H.W. Bush. “That’s a choice every president has to make.”

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Sri Lanka drops IMF loan bid over spending dispute

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COLOMBO: Sri Lanka on Tuesday dropped plans for a fresh $1.0-billion loan from the International Monetary Fund following disagreements over how the money should be spent, the central bank said.

The government announced last month that it was seeking a new cash infusion from the IMF after drawing down a previous $2.6-billion bailout loan six months ago.

"Sri Lankan authorities have decided not to pursue a new programme with the IMF, but to continue maintaining the close relationship with the Fund under standard consultation processes similar to many other member countries," the central bank said.

Treasury chief Punchi Banda Jayasundera had said he wanted the new IMF loan to spend on infrastructure while the US-based lender was only willing to hand over money to bolster the bank's foreign reserves.

"The IMF has indicated that the Fund may not be in a position to consider any direct or indirect budget support to Sri Lanka," the bank statement said.

Money for foreign reserves is not meant for immediate spending, but serves to enhance a country's creditworthiness.

An IMF team is currently in Colombo conducting annual consultations with Sri Lankan authorities.

The 2009 IMF bailout was secured when Sri Lanka's foreign reserves crashed to a dangerously low level of $1 billion. They now stand at a comfortable $7 billion.

The bank also announced on Monday that Sri Lanka's new taxes on cars and luxury goods had helped reduce imports last year and narrow the huge trade deficit.

Faced with a balance of payments problem in 2011, the government hiked car imports by up to 300 per cent, stopped credit for luxury imports and allowed the local currency to depreciate sharply by nearly 20 per cent.

The government has revised down its growth estimate for 2012 from 7.2 per cent to 6.5 per cent.

Sri Lanka's economy grew 8.3 per cent in 2011, up from 8.0 per cent in 2010, the first full year after government forces crushed Tamil rebels bringing an end to the island's ethnic war.

- AFP/ck



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