Wednesday, August 11, 2010

Observing Ramadan? There's an app for that

The most ancient traditions of Islam are going high-tech, with a slew of modern offerings for those observing the holy month of Ramadan, which begins this week.

Cell phone applications such as "iPray" or "iQuran" offer a beeping reminder of requisite prayer times, while the "Find Mecca" and "mosque finder" programs help the Muslim traveler in an unfamiliar city find the nearest place to pray.

"When I saw these applications for the first time, I thought: this is amazing," said James Otun, who has several Islamic applications on his Apple iPhone and iPad. "Whoever came up with this idea: God bless him or her."

The applications aren't just for Ramadan; there are Islamic-themed programs that help users find the nearest Costco offering foods prepared according to Islamic dietary rules, learn the correct Arabic pronunciations in a daily prayer, or count how many pages of the Quran they've read that day — all on a mobile phone.

There also are applications, or apps, for the holy books of several other religions, from the Catholic Holy Bible to the Bhagavad Gita, a sacred Hindu scripture.

The first time Sumeyye Kalyoncu heard the Adhan — or call to prayer — through surround-sound speakers on her iPhone dock, she was overcome with nostalgia for her native Turkey. Such applications are especially popular in the U.S., Kalyoncu said, as U.S. mosques do not broadcast daily calls to prayer from external loudspeakers, as they do in Muslim countries.

"These are traditions and these have been in our lives for ages, like almost 15 centuries, so they seem very old," Kalyoncu said. "I think this is like combining together the technology and the things that we do daily."

Kalyoncu uses an iPhone app called iPray Lite, keeping track of requisite daily prayers with a program that simulates the clicking sound of prayer beads or the turning wheel of a handheld metal counter Muslims use to keep count of prayer repetitions. Using headphones, the 24-year-old says she can now fulfill her daily spiritual obligations by counting prayers on her iPhone on the commuter bus to Manhattan from her Edgewater home.

Apple spokeswoman Trudy Muller said the company doesn't track the more than 225,000 apps for its phones by category so she doesn't know how many are Islamic-themed. The programs aren't just offered by Apple; Nokia has a Ramadan suite for its cell phones that consolidates everything worshippers need to know to observe Islam's holiest month, in which Muslims worldwide observe daily daylight fasting.

Some apps are free. Those that are not generally range from about 99 cents to $2.99, although some are more expensive.

The dates of Ramadan still are determined by the lunar calendar, and calculations can differ among Islamic communities around the world. In North America, many Muslims will mark the first day of Ramadan on Wednesday.

But Islam never has been at odds with innovation, said Zinnur Tabakci, who runs an Islamic religious book and gift shop in Paterson, N.J..

"Islam is not against technology. Now you can do it easier, faster," said Tabakci, who recently supplemented the strings of traditional prayer beads and religious texts he sells with a wall of mobile phone accessories to keep up with demand.

"Islam started 1,400 years ago, and at that time, they didn't have that much technology, but they knew everything," he added.

The mosque Tabakci attends in Paterson, called Ulu Cami, or "Great Mosque," has gone high-tech, too. After 16 cameras were installed for security purposes, one innovative mosque attendee began using them to broadcast services live over the Internet so those too old, sick or otherwise unable to attend could watch daily prayers online from home. Mosque leaders say the live broadcasts have become especially popular among relatives of immigrants who like to tune in from overseas to hear the same prayers as their loved ones in New Jersey.

Otun, a technology aficionado, says the apps he uses on his iPhone and iPad make him a more observant Muslim. From the beeping reminder to stop and pray during his busy schedule running a limo service, to an app that tells him which nearby restaurants serve food prepared within Islamic guidelines, Otun says there's no longer an excuse to live an unobservant life.

"If you forgot to pray, you might not be responsible, because you're human; you forget and you can make it up later," said Otun, 35. "But not now that you have those apps, that might change things in God's level."

Otun's favorite application, called Find Mecca, is a compass-like program with an electronic indicator that changes from red to green when you've reached the requisite prayer angle of 58-degrees, Northeast, to ensure you're facing Mecca from any location — a requirement of all Muslims when praying.

Otun said he was amazed to see an image of Mecca on his cell phone screen for the first time, and to realize he could carry a library of religious texts with him everywhere.

"iPhone makes you emotional," he said. "I can't carry 10,000 pages of books, now, you have it in your phone — it's priceless."

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Rajya Sabha adjourned over Belgaum dispute

The Rajya Sabha was adjourned on Wednesday following the Shiv Sena's demand for an immediate discussion on the Belgaum dispute between Maharashtra and Karnataka. As the house met for question hour, Shiv Sena members led by Manohar Joshi appealed to Chairman Hamid Ansari that a discussion be held on
the issue.

The chair, however, rejected the demand, stating that the matter was sub-judice and could not be taken up in the house.

At this, Shiv Sena members led by Joshi gathered near Ansari's podium. Despite repeated requests, they stood firm on the demand for the discussion, forcing the chair to adjourn the house for half-an-hour till 11.30 am.

The Maharashtra-Karnataka boundary row suddenly came to the limelight following the central government's affidavit in the Supreme Court early July that the disputed areas could not be made a part of Maharashtra merely because a majority of the population there speak Marathi.
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Commonwealth Games: Sheila does a debris check around Delhi

Unhappy over the slow pace of removal of rubble in the city preparing for the Commonwealth Games, Delhi Chief Minister Sheila Dikshit today visited various construction sites to supervise its progress.

Her visit came a day after the government extended the deadline for debris clearance to August 31 as various agencies like municipal corporation failed to remove rubble and construction waste from Commonwealth Games sites.

Dikshit visited Connaught Place, various parts of South and Central Delhi such as Paharganj and Karol Bagh where heaps of rubble can still be seen due to the ongoing construction and underground cabling work.

Senior officials accompanying her said that the Chief Minister personally supervised the progress in removal of rubble and other construction waste.

She also instructed the officials at the site to expedite the job at the earliest to initiate streetscaping work to give a presentable look to the city preparing for the mega sports event.

Dikshit had last month set an August 10 deadline for removal of construction waste across the city and ordered all civic agencies to strictly comply with it.

Civic agencies, including MCD and NDMC, however expressed their inability to clear the debris within the time frame and had sought extension till August 31 which is also the deadline for completing all construction work.

According to the government, 80,000 metric tonnes of debris has already been removed.
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Lata Mangeshkar moves HC to get notice quashed

Legendary singer Lata Mangeshkar has moved the Bombay high court, seeking relief from a notice issued against her by the Kolhapur Municipal Corporation (KMC) in July this year. According to the petition, Mangeshkar, 80, had undertaken demolition of a dilapidated shed of her Jay Prabha Studio in Kolhapur in April this year after KMC issued her a notice.

The KMC notice, dated April 16, 2010, had directed Mangeshkar to demolish the shed as it was at least 60 years old and was in dilapidated condition. The notice also stated that if the shed was not demolished immediately, it could prove harmful to people travelling on the adjacent road and also to students of a nearby school. Mangeshkar was told that she would be held liable for any accident that took place because of the shed.

However, when the singer started demolition of the shed, KMC issued her two more notices on July 9 and 10, directing her to stop the demolition work. The notices were issued as KMC wanted Mangeshkar to retain the original iron frame of the shed. She was told to not make changes in the original construction, as it was classified under Heritage Grade-III structure.

“All the iron sheets and the roof were removed and when the work of removing the iron frame was in happening, the respondents (KMC) issued a fresh notice,” stated Mangeshkar’s petition. “My bonafide intention was only to avoid any accident, as the condition of the said shed and also the iron frame is very bad.”

In her petition, Mangeshkar has urged the high court to quash the KMC’s order, which has restrained her from carrying out further repair work. On Tuesday, a division bench of justice DD Sinha and justice Mridula Bhatkar directed the KMC’s counsel Srinivas Patwardhan to file a reply in four weeks.
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Ajay Devgan unhappy with KJo

/photo.cms?msid=6292268It is almost as if Ajay Devgn is discovering new dimensions to his relationship with wife Kajol. If a very reliable trade source is to be believed, the actor is openly singing paens about his wife's talent. This is rather strange because Ajay and Kajol have been married for 11 years. And neither has gone gaga about each other in public, until now!

Anyway what prompted this diatribe is information saying that Ajay is not happy with the We Are Family promotions.

The source says, "Ever since the first interview for WAF appeared, Ajay felt that Kajol should have been positioned differently from Kareena."

According to information available, it is said that Ajay feels Kajol (quite obviously) is in a different league as an actress as opposed to the younger Kareena. And so he feels that Karan should give Kajol a different kind of placement in the whole publicity campaign instead of making it seem like Kajol and Kareena are on par."

BT asked Kajol if she was aware of her husband's "anguish" and as usual she spoke her mind. "Listen I don't know if Ajay is anguished or any such thing. If you say that he wants me to be more prominent than Bebo in the WAF campaign, I will understand. After all I'm his wife and he is bound to be biased towards me."

Kajol even joked that if this matter is true, then she would go home and advise her husband to take up the issue with her best friend Karan. Ajay, in defence of his bias, said, "Kajol is the best actress Bollywood has. I will naturally look out for her interests in every way and in every campaign. But honestly, who am I to complain about how Karan should go about with the publicity of his film? As for me being unhappy with Kajol being placed on par with Kareena, that's not entirely true. Like I said, Kajol is the finest actress around but Kareena is also very good in her own place. Bebo is a friend. She is also my heroine. I've done Golmaal Returns and Omkaara with her. I'm currently shooting with her for Golmaal 3. This is a very sensitive issue. I won't be a hypocrite and say that I like Kajol and Kareena equally. But I don't wish to start any controversy." Of course, when pushed to say who he would give his vote to, Ajay grinned sheepishly and said, "Kajol. She is terrific." Guess after Ajay it will be Saif Ali Khan's turn to pick his favourite. And no prizes for guessing which of the two Ks Saif will choose.
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NBFC stocks rise as RBI moots new banking licenses

Malvinder Mohan Singh, Chairman, Religare enterprises Ltd. File photo

Shares of major NBFCs today zoomed as much as 14 per cent after the Reserve Bank released the much awaited discussion paper on granting banking licenses to private players and non-banking finance companies.

Financial services provider Religare Enterprises led the gains and soared 13.8 per cent to hit a year high of Rs. 472.70 on Bombay Stock Exchange. The company is among the entities like Reliance Capital, IndiaBulls, IL&FS, IDFC, IFCI and Aditya Birla Nuvo, that are reported to be mulling entering the banking space.

Bajaj Auto Finance jumped 3.2 per cent to touch a year high of Rs. 622.50, while Anil Ambani-led Reliance Capital climbed 4.7 per cent to Rs. 795. Domestic financial institutions IFCI and IDFC also witnessed an upsurge of 5 per cent and 1.6 per cent respectively.

“The market sentiment went up after the RBI’s proposal. Banking licence will be a sure shot way of making money. There will be a lot of wealth creation as it will be like RBI distributing gold to the contenders.” SMC Capitals equity head Jagannadham Thunuguntla said.

Aditya Birla Nuvo, which is a Birla group firm with a strong presence in financial services, rose 1.38 per cent to Rs 818. Bajaj Auto Finance jumped 3.2 per cent to touch a year high of Rs. 622.50.

As per market information, these players have firmed plans to enter the banking sector after Finance Minister Pranab Mukherjee mentioned in the Union Budget 2010-11 that fresh licences would be issued to private firms and NBFCs.

The RBI today released a discussion paper on giving new banking licenses and formulating regulations for the same to foster greater competition.

“The Reserve Bank is considering providing licenses to a limited number of new banks. A larger number of banks would foster greater competition, and thereby reduce costs and improve the quality of service,” the central bank said in a discussion paper.

The RBI also sought to know “whether industrial and business houses could be allowed to promote banks.” And, should NBFCs be allowed to convert into or promote banks.

The central bank has sought feedback on this as also business model for the new banks by September 30.
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Brokers` view on Tata Motors Q1 numbers

India`s largest automobile company, Tata Motors posted consolidated net profit of Rs 19.89 billion for the June 2010 quarter, a significant turnaround from a loss of Rs 3.28 billion in the corresponding quarter last year. Consolidated revenues grew 64.20% at Rs 270.56 billion for quarter ended June 2010 as against Rs 164.73 billion in the corresponding quarter previous year.

Post the positive results, shares of company traded higher by Rs 940.10, up Rs 21.15, or 2.30% at the Bombay Stock Exchange (BSE) on Tuesday at 2:51 p.m.

Currently, shares of the company gained Rs 53.2, or 5.56%, to trade at Rs 1,010.50. The total volume of shares traded was 2,817,724 at the BSE (12.45 p.m., Wednesday).

In an exclusive discussion with Myiris.com, analysts discuss what they make out from the numbers and how have they positioned themselves in the stock:

Prabhudas Lilladhar:

Q1FY11 standalone results were disappointing: Tata Motors (Q,N,C,F)* posted a 62.60% y-o-y growth in its revenues at Rs 104 billion. Overall volumes grew by 47.6% y-o-y, whereas average realization/vehicle improved by 10% y-o-y on account of better product mix. EBITDA grew by 61.20% y-o-y at Rs 11.70 billion with EBITDA margins flat y-o-y at 11.3%. Sequentially, the raw material cost was flat at 70.5% of revenue on account of price hikes taken by the company to compensate for the higher raw material cost. On account of tight control over other expenses, the EBITDA margins expanded 120bps Q-o-Q. As a result the Adj. net profit grew by 25% Q-o-Q at Rs 4.60 billion.

Valuations: With signs of recovery in some of the key markets and aggressive cost-cutting measures, we have built-in a 21.7% volume growth at 0.24 million units in FY11E and an EBITDA margin of 14.5% at JLR. We value JLR at 3.5x FY12E EV/EBITDA multiple at Rs 510 a share. Our SOTP valuation stands at Rs 1,136 a share. We believe that an improvement in the core Commercial Vehicle (CV) business, coupled with recovery at the JLR front would lead to better stock price performance. Maintain `Accumulate`.

Emkay Global Financial Services:

Consolidated Sales: JLR was a show stealer. Revenues were above expectation as both Tata Motors (expectation of Rs 112 billion) and JLR (expectation of Rs 145 billion) surprised positively due to better product mix resulting in higher realisations.

Valuations: We have upgraded our FY11E and FY12E earnings by 63% and 65% to Rs 100.50 and Rs 122.50 respectively. The revision in estimates is due to volume upgrades in JLR along with upgrades in realizations and hence net profits. We have upgrades our rating on the stock from Hold to Accumulate and Target Price to Rs 1,140 (earlier Rs 810).

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