BEIJING -- The U.S. wants more discussions on naval safety and communications with China, following a recent confrontation between an American surveillance ship and Chinese vessels in the South China Sea, a senior U.S. navy officer said.
U.S. Chief of Naval Operations, Admiral Gary Roughead, told reporters Sunday that interaction between ships of the two navies should "be professional and safe, and not jeopardize the well-being of our sailors."
The navies must "operate in accordance with international law," added Adm. Roughead, the highest-ranking U.S. military official to visit China this year.
Five Chinese vessels last month crowded around the USNS Impeccable off China's southern island province of Hainan. China says the Impeccable was violating international law by conducting surveillance activities in its exclusive economic zone. The U.S. and many other nations view such activity as legal.
Adm. Timothy Keating, the officer in charge of American forces in Asia, said at the time that the incident showed that the Chinese are "not willing to abide by acceptable standards of behavior."
Nevertheless, Adm. Roughead said the current relationship between the two navies is "one that is positive."
He said that the desire of the China People's Liberation Army Navy to acquire an aircraft carrier would mean China could project its military power much further from its coast, and that the growth of China's naval forces is "consistent with China's economic advancement and its role in a globalized world."
But he added that as China modernizes its navy "there should be clearer communications with regard to what the intentions of that capability are." (See related article, Page 16.)
Adm. Roughead added that in future dialogues with China, he hopes the two sides can discuss further cooperation on search-and-rescue missions as well as continuing joint counterpiracy efforts to stop the surge in attacks off of Somalia.
Counter-piracy is "very much on the forefront of both our minds, and it is also the first time we have operated together that far from China," Adm. Roughead said.
—Bai Lin in Shanghai contributed to this article.
Monday, April 20, 2009
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Intermediate 1st Year Results 2009 Online| Online Results Intermediate First Year
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Tech Mahindra Wins Satyam Bid | Tech Mahindra News
Tech Mahindra Wins Satyam Bid for a good price.
MUMBAI: Venturbay Consultants, a subsidiary controlled by Tech Mahindra, has emerged as the higest bidder to acquire the controlling stake in Satyam, according to a release issued by the government-nominated board to the BSE today.
According to the release issued to the BSE today, Tech Mahindra has agreed to subscribe and acquire up to 30.28 crore shares,representing 31% stake in the company at Rs 58 per share thereby agreeing to infuse Rs 1,756 crore (approximately $351 million).
Tech Mahindra will have to deposit the initial subscription amount and the requisite escrow amount on or before April 21, 2009.
"In the event of Tech Mahindra does not deposit the total acquisition funds before April 21, the next higest bidder will be considered the highest bidder and the detailes will be announced by the board," the release added.
Board members Deepak Parekh and S B Mainak abstained from the discussion regaring the selection of the highest bidder.
Tech Mahindra will make the mandatory open offer for 20% stake in Satyam at Rs 58 per share within four days of receiving approval from the Company Law Board for the preferential allotment, and open the public offer no later than 55 days after the date of the announcement of the public offer.
The company will pay Rs 2,890 crore for 51% stake in Satyam, which has been valued at nearly 1xsales.Satyam News | Tech Mahindra Wins Satyam Bid
MUMBAI -- Indian software company Tech Mahindra Ltd. is the highest bidder for a stake in rival Satyam Computer Services Ltd., two people familiar with the development said Monday.
"They (Tech Mahindra) have emerged as the clear winner. They had bid at 58 rupees ($1.16) per share," one of them told Dow Jones Newswires. The next bidder was Larsen & Toubro Ltd. at 49.50 rupees, the person added.
According to the process laid down earlier, the bid is for a 31% stake in Satyam. This will be followed by an open offer for another 20% in the company.
At 58 rupees per share, Tech Mahindra would have to pay about 32 billion rupees to 33 billion rupees for a controlling 51% stake in Satyam, said Apurva Shah, an IT analyst with Mumbai-based brokerage Prabhudas Lilladher.
Source:
http://online.wsj.com/article/SB123960585583213041.html?mod=googlenews_wsj
Sunday, April 12, 2009
Infosys Fires 2100 People | Infosys Layoff 2100 Employees
Indian IT Company Infosys has announced that they are firing around 2100 workers from their operations in the Indian market.
The company said that these workers are being fired due to poor performance history.
Infosys said that the decision was taken after the annual performance appraisal exercise that was concluded last month.
A senior company representative said: “The tolerance for non-performance has come down to zero. The appraisal was conducted for 60,000 of our employees. At the bottom, some 3.5 per cent of the people were either outplaced or left the company. It’s an annual scenario after every performance assessment. In fact, normally the bottom size is 5 per cent.”
Infosys clarified that none of their trainees were fired.
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Fiitjee FIIT JEE 2009 Answer Keys
FIITJEE Solutions to IIT-JEE 2009 will be available here at Midnight on 12th April, 2009.
MidNight Update from FIITJEE: Studnets can Download the Solutions/Answer Key - Click Here
Saturday, April 11, 2009
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