Microsoft to offer money for search engine use
22 May 2008, 0352 hrs IST,REUTERS
REDMOND: Microsoft Corp said on Wednesday it launched a new "cashback" search service that pays users a rebate for buying products they found through the company's Windows Live search engine.
Live Search cashback is the latest attempt by the world's largest software maker to draw users to its online search engine, which is a distant third behind market leader Google Inc and Yahoo Inc.
"This is giving you a reason why you should use a particular search engine," Microsoft Chairman Bill Gates said at the company's Advance 08 advertising conference.
Microsoft sees online search as a critical component to establishing an online advertising powerhouse. By placing text-based ads next to results from its ubiquitous search engine, Google has become the leader in Web advertising.
A product search on Windows Live will call up links to online retailers offering that item. The user who buys that item from the retailer's site will get 2 percent to 30 percent of the purchase price back as a rebate.
Consumers would have to sign up for a free Windows Live cashback account to participate in the program. Rebates would be issued after a 60-day waiting period to make sure there are no returned products.
Microsoft's Gates said it will partner with more than 700 retailers including eBay Inc, Barnes & Noble, Sears and Home Depot Inc.
Redmond, Washington-based Microsoft will offer advertisers a cost-per-acquisition model of payment, meaning that they only pay for ads that lead to purchases. The current cost-per-click model charges advertisers for every click on a sponsored link associated with certain keywords.
"If you knew the user and watched their behavior you could do a lot better for them in terms of taking them directly to the information or presentation they want. Search can be dramatically better," said Gates.
"We think we're entering a period where there'll be quite a bit of change (in search)."
The company's effort to gain more market share in Web search led to its unsolicited offer to buy Yahoo Inc earlier this year. It withdrew a sweetened $47.5 billion offer a few weeks ago, but said on Sunday it had re-approached Yahoo with an alternative deal.
A source familiar with the talks said Microsoft had offered to buy Yahoo's search business and take a minority stake in the rest of the company after selling off its Asian assets. Microsoft executives did not address the Yahoo issue directly at the conference.
Microsoft also launched Live Search Farecast, based on the airfare-predicting technology that the company bought in April through its acquisition of travel site Farecast. Microsoft also said it will consider cash rebates for flights booked through the search.
Shares of Microsoft fell 51 cents, or 1.77 percent, to $28.25 on Nasdaq.
Friday, May 23, 2008
Thursday, May 22, 2008
SBI decision may play havoc with Bihar's agriculture plans
SBI decision may play havoc with Bihar's agriculture plans
Patna (PTI): The State Bank of India's (SBI) decision not to finance agriculture equipment would tremendously impact Bihar and may wreak havoc on the state's agriculture plans, according to Deputy Chief Minister Sushil Kumar Modi.
'The agriculture income in the state is low and medium and marginal farmers do not have the money to buy agricultural equipment like power tillers and tractors required for modernising agriculture in the state', Modi, also the state Finance Minister said while reacting to the SBI decision.
'It has come at a time when the state government has launched an agricultural roadmap and it may adversely affect the state's ambitious plans', he said.
'The four per cent agricultural growth target will also remain a pipedream and the food security of the nation compromised if the State Bank of India is allowed to continue with its decision', Modi feared.
Patna (PTI): The State Bank of India's (SBI) decision not to finance agriculture equipment would tremendously impact Bihar and may wreak havoc on the state's agriculture plans, according to Deputy Chief Minister Sushil Kumar Modi.
'The agriculture income in the state is low and medium and marginal farmers do not have the money to buy agricultural equipment like power tillers and tractors required for modernising agriculture in the state', Modi, also the state Finance Minister said while reacting to the SBI decision.
'It has come at a time when the state government has launched an agricultural roadmap and it may adversely affect the state's ambitious plans', he said.
'The four per cent agricultural growth target will also remain a pipedream and the food security of the nation compromised if the State Bank of India is allowed to continue with its decision', Modi feared.
Wednesday, May 21, 2008
Mukesh Ambani's pay cheque is over Rs 44 cr
Mukesh Ambani's pay cheque is over Rs 44 cr
19 May 2008, 1808 hrs IST,PTI
NEW DELHI: Top business house Reliance Industries has given its chief Mukesh Ambani, the country's richest person and presumably top-paid executive, a hefty pay hike of about 45 per cent to take his annual remuneration to over USD10 million.
Mukesh Ambani, Chairman and Managing Director of Reliance Industries, got a total payout of Rs 44.02 crore in financial year 2007-08, marking an increase of about Rs 13.5 crore from the previous fiscal.
In fiscal 2006-07, Ambani's annual remuneration had increased to Rs 30.46 crore, from Rs 24.77 crore previously.
However, a large part of Ambani's full-year pay cheque comes in the form of commissions that the company pays to select executives as a ratio of its net profits.
According to the company's annual report being sent to shareholders, Ambani got a salary of Rs 60 lakh (Rs 5 lakh per month) and another Rs 48 lakh (Rs 4 lakh per month) in the name of "perquisites and allowances".
In addition, he got Rs 18.75 lakh under the head of "retiral benefits" and Rs 4,275.44 lakh toward commission on net profit, taking his total to Rs 4,402.19 lakh for 2007-08.
RIL Chief was the top-paid executive in fiscal 2006-07, followed by Madras Cement's Chairman and MD P R R Rajha, who had an annual payout of about Rs 24.8 crore.
However, Ambani, who was ranked as world's fifth richest by Forbes magazine earlier this year with a net worth of USD 43 billion, may not find a place even among the 200 most paid chiefs globally.
In a separate list, Forbes named Oracle's CEO Larry Ellision at the top of 500 most paid CEOs in the US with a pay cheque of USD 192.9 million. A total 177 CEOs in the list had a salary of over USD 10 million.
It is not yet clear whether Ambani would be highest paid executive in India for 2007-08, as most of the companies are yet to disclose the remuneration figures for that year.
Among the Indian companies that have disclosed their top-management salaries so far for 2007-08, Managing Directors of Merck, ICI India and Crisil have their annual pay cheques running into crores -- but they are way behind Ambani.
Merck's M Dziki got Rs 2.02 crore, while ICI India's Rajiv Jain and Crisil's Roopa Kudva got Rs 1.25 crore and Rs 1.1 crore respectively in the latest fiscal.
Mukesh Ambani has been CMD of RIL since July 31, 2002. His current term expires on April 18, 2009. RIL's board of directors at a meeting held on April 21, 2008 approved re-appointment of Ambani for a further five years at a remuneration determined by the concerned committee.
The shareholders would vote on these board decisions at the company's 34th AGM to be held on June 12, 2008.
Addressing the shareholders, Ambani said in the annual report that the company "set new records for turnover, net profits and dividend payout."
He said that RIL has become India's first private sector company to surpass cash profit of Rs 25,000 crore and net profit of Rs 15,000 crore.
"India's growth is creating wealth and jobs across the world. We are an integral part of this evolution and have the responsibility to accelerate India's growth by reinvesting our cash flow in our business," he wrote.
Ambani's pay hike of about 45 per cent is even higher than the rise in total managerial remuneration given by RIL in the latest fiscal. RIL paid total managerial remuneration of Rs 67.53 crore in 2007-08, up 43 per cent from Rs 47.14 crore in the previous fiscal. The figure stood at Rs 44.36 crore in 2005-06.
The company paid its non-executive directors a total of Rs 1.85 crore in the latest fiscal, up from Rs 1 crore in 2006-07 but down from Rs 2 crore in 2005-06.
The perquisites and allowances include accommodation or house rent allowance in lieu thereof, house maintenance allowance together with reimbursement of expenses for gas, electricity, water, furnishing and repairs, medical reimbursement, leave travel concession for self and family, club fees and medical insurance, among others.
However, reimbursement for expenses like business trips, car use for company business and residence telephone expenses are not considered as perquisites, although they would be reimbursed, the annual report said.
19 May 2008, 1808 hrs IST,PTI
NEW DELHI: Top business house Reliance Industries has given its chief Mukesh Ambani, the country's richest person and presumably top-paid executive, a hefty pay hike of about 45 per cent to take his annual remuneration to over USD10 million.
Mukesh Ambani, Chairman and Managing Director of Reliance Industries, got a total payout of Rs 44.02 crore in financial year 2007-08, marking an increase of about Rs 13.5 crore from the previous fiscal.
In fiscal 2006-07, Ambani's annual remuneration had increased to Rs 30.46 crore, from Rs 24.77 crore previously.
However, a large part of Ambani's full-year pay cheque comes in the form of commissions that the company pays to select executives as a ratio of its net profits.
According to the company's annual report being sent to shareholders, Ambani got a salary of Rs 60 lakh (Rs 5 lakh per month) and another Rs 48 lakh (Rs 4 lakh per month) in the name of "perquisites and allowances".
In addition, he got Rs 18.75 lakh under the head of "retiral benefits" and Rs 4,275.44 lakh toward commission on net profit, taking his total to Rs 4,402.19 lakh for 2007-08.
RIL Chief was the top-paid executive in fiscal 2006-07, followed by Madras Cement's Chairman and MD P R R Rajha, who had an annual payout of about Rs 24.8 crore.
However, Ambani, who was ranked as world's fifth richest by Forbes magazine earlier this year with a net worth of USD 43 billion, may not find a place even among the 200 most paid chiefs globally.
In a separate list, Forbes named Oracle's CEO Larry Ellision at the top of 500 most paid CEOs in the US with a pay cheque of USD 192.9 million. A total 177 CEOs in the list had a salary of over USD 10 million.
It is not yet clear whether Ambani would be highest paid executive in India for 2007-08, as most of the companies are yet to disclose the remuneration figures for that year.
Among the Indian companies that have disclosed their top-management salaries so far for 2007-08, Managing Directors of Merck, ICI India and Crisil have their annual pay cheques running into crores -- but they are way behind Ambani.
Merck's M Dziki got Rs 2.02 crore, while ICI India's Rajiv Jain and Crisil's Roopa Kudva got Rs 1.25 crore and Rs 1.1 crore respectively in the latest fiscal.
Mukesh Ambani has been CMD of RIL since July 31, 2002. His current term expires on April 18, 2009. RIL's board of directors at a meeting held on April 21, 2008 approved re-appointment of Ambani for a further five years at a remuneration determined by the concerned committee.
The shareholders would vote on these board decisions at the company's 34th AGM to be held on June 12, 2008.
Addressing the shareholders, Ambani said in the annual report that the company "set new records for turnover, net profits and dividend payout."
He said that RIL has become India's first private sector company to surpass cash profit of Rs 25,000 crore and net profit of Rs 15,000 crore.
"India's growth is creating wealth and jobs across the world. We are an integral part of this evolution and have the responsibility to accelerate India's growth by reinvesting our cash flow in our business," he wrote.
Ambani's pay hike of about 45 per cent is even higher than the rise in total managerial remuneration given by RIL in the latest fiscal. RIL paid total managerial remuneration of Rs 67.53 crore in 2007-08, up 43 per cent from Rs 47.14 crore in the previous fiscal. The figure stood at Rs 44.36 crore in 2005-06.
The company paid its non-executive directors a total of Rs 1.85 crore in the latest fiscal, up from Rs 1 crore in 2006-07 but down from Rs 2 crore in 2005-06.
The perquisites and allowances include accommodation or house rent allowance in lieu thereof, house maintenance allowance together with reimbursement of expenses for gas, electricity, water, furnishing and repairs, medical reimbursement, leave travel concession for self and family, club fees and medical insurance, among others.
However, reimbursement for expenses like business trips, car use for company business and residence telephone expenses are not considered as perquisites, although they would be reimbursed, the annual report said.
Friday, May 16, 2008
Haryana contributes more wheat to Central pool
Agri. & Commodities
Haryana contributes more wheat to Central pool
Chandigarh (PTI): Haryana Deputy Chief Minister Chander Mohan said on Thursday that the State has contributed 18 lakh Metric tonn (MT) more wheat in the Central Pool which was 54 per cent more than the previous year.
He said that as much as 51.50 lakh MT of wheat was contributed in the Central Pool so far while during the last entire rabi season only 33.50 lakh MT of wheat was given in the Central Pool.
Mohan said that as much as 52.14 lakh MT of wheat has arrived in the Mandis of the State.
The Deputy Chief Minister said that during the entire season of last year, the arrival of wheat in the Mandis was 37.37 lakh MT and out of this 33.50 lakh MT of wheat was procured by the Government procuring agencies.
Sirsa district was ahead in the arrival of wheat with the arrival of 7.46 lakh metric tonnes followed by Karnalwith 6.01 lakh metric tonnes of wheat.
Haryana contributes more wheat to Central pool
Chandigarh (PTI): Haryana Deputy Chief Minister Chander Mohan said on Thursday that the State has contributed 18 lakh Metric tonn (MT) more wheat in the Central Pool which was 54 per cent more than the previous year.
He said that as much as 51.50 lakh MT of wheat was contributed in the Central Pool so far while during the last entire rabi season only 33.50 lakh MT of wheat was given in the Central Pool.
Mohan said that as much as 52.14 lakh MT of wheat has arrived in the Mandis of the State.
The Deputy Chief Minister said that during the entire season of last year, the arrival of wheat in the Mandis was 37.37 lakh MT and out of this 33.50 lakh MT of wheat was procured by the Government procuring agencies.
Sirsa district was ahead in the arrival of wheat with the arrival of 7.46 lakh metric tonnes followed by Karnalwith 6.01 lakh metric tonnes of wheat.
U.N.'s mid-year economic projections:grim
UN: World economy "teetering on brink"
UNITED NATIONS (AP): The U.N. says the world economy is ``teetering on the brink'' of a severe downturn and will grow by only 1.8 percent in 2008.
That's down from a global growth rate of 3.8 percent in 2007.
The U.N.'s mid-year economic projections released Thursday blamed the downturn on further deterioration in the U.S. housing and financial sectors in the first quarter.
The U.N. said the U.S. problems are expected to continue to be ``a major drag for the world economy'' into 2009. It forecast global economic growth of 2.1 percent next year.
But developing countries won't suffer as badly. The U.N. said they should reach 5 percent growth this year, compared to a robust 7.3 percent in 2007.
UNITED NATIONS (AP): The U.N. says the world economy is ``teetering on the brink'' of a severe downturn and will grow by only 1.8 percent in 2008.
That's down from a global growth rate of 3.8 percent in 2007.
The U.N.'s mid-year economic projections released Thursday blamed the downturn on further deterioration in the U.S. housing and financial sectors in the first quarter.
The U.N. said the U.S. problems are expected to continue to be ``a major drag for the world economy'' into 2009. It forecast global economic growth of 2.1 percent next year.
But developing countries won't suffer as badly. The U.N. said they should reach 5 percent growth this year, compared to a robust 7.3 percent in 2007.
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