Israeli Satellite In India's Service

Jerusalem — India has purchased a spy satellite manufactured by the Israel Aerospace Industries (IAI) and plans to launch it into space in April.

The advanced satellite will help India defend itself against terror attacks of the kind that were carried out in Mumbai last November.

The news of the satellite purchase was reported by Indian sources, prompting reports in the Indian and international medias. According to the reports, India bought the satellite because of pressure from the Indian army following the Mumbai terror attacks.

India has spy satellites, but they are effective only during daylight conditions and are ineffective at night or under poor weather conditions.

The Indian NDTV station reported the Risat-2 satellite, which weighs 280 pounds, would be launched by an Indian Polaris rocket, which was also used to carry the Israeli Tecsar satellite into space last year.

All reports indicate that the new, advanced satellite is fitted with a special radar, capable of identifying targets on the ground, even in the dark, inclement weather and during sand storms.

The Indians charge the terrorists who committed the attacks in Mumbai arrived by boat from Pakistan, and an effective spy satellite would have allowed them to identify the boat long in advance.

India’s decision to buy an advanced spy satellite from Israel raises security links between Israel and India to a new level. This marks the first time that Israel has been reported to have exported a spy satellite.

The deal places IAI in a small and very select club of spy satellite manufacturers and exporters. The other spy satellite manufacturers, such as the United States and Russia, are not prepared to sell their satellites to foreign countries.

According to other security reports in India, IAI is currently developing a surface-to-air missile for India. It has also purchased unmanned aerial vehicles, and there are a number of other deals that are in advanced stages.


Source: http://thebulletin.us/

Ninetowns to Discontinue B2B Initiative and Refine Business Focus

BEIJING, March 20, 2009 /PRNewswire-Asia via COMTEX/ ----Ninetowns Internet Technology Group Company Limited (Nasdaq: NINE) ("Ninetowns" or the "Company"), one of China's leading providers of online solutions for international trade, today announced that it has undertaken a thorough review of its overall business-to-business ("B2B") strategy for international trade and has decided to discontinue its tootoo.com business. This decision was made in light of the recent major changes in the global economic environment and will enable Ninetowns to better manage its investments for long-term growth. The discontinuation of the B2B business is not expected to have a material financial impact on Ninetowns' other business solutions.

Tootoo.com was originally developed as a B2B search and service provider for suppliers and buyers engaged in international trade and was not fully commercialized as of the end of 2008. Ninetowns expects to begin winding down all services and support for tootoo.com within approximately 60 days and plans to eventually discontinue tootoo.com's B2B service offering. Ninetowns intends to re-assign existing tootoo.com personnel consisting of approximately 50 employees to other functions within Ninetowns.

As a result of this decision, Ninetowns expects to record a one-time non- cash impairment charge of approximately RMB115 million against its long-lived assets and goodwill. Ninetowns is now in the process of finalizing the impairment charge with its advisors, including an independent third-party valuation specialist. Ninetowns does not expect the non-cash impairment charge to have an adverse impact on its current cash position, current cash flows from operating activities, or future cash expenditures.

"We carefully assessed the long-term impact of continuing our B2B business and have determined that the time and investment required for further support is not in the best interests of the Company or its shareholders given the uncertain global economic environment," stated Mr. Shuang Wang, Ninetowns' Chief Executive Officer. "In particular, the continuing deterioration of the global economy has had a severe effect on China's import/export trade sector and will greatly prolong our investment horizon if we continue to operate tootoo.com. The anticipated cost reductions from this decision will better position us to explore other growth opportunities in both the domestic market and the international trade market as well as to drive improved financial performance. We remain focused on maintaining our business-to-government ("B2G") market leadership, while leveraging our quality management expertise and experience to expand into other potential opportunities. Our long-term goal is to continue to strengthen and expand our risk control and quality management systems into various industries. Our unique quality control system, which ensures transparent supply chain processing from sourcing to final delivery, is our core competitive advantage and will enable us to deliver long-term shareholder value. "

Mr. Tommy Fork, Ninetowns' Chief Financial Officer, commented, "This was a difficult decision, but we feel it is the correct path to narrow our strategic focus to areas where we can drive maximum return on investment, while conserving the Company's cash in order to maintain a sound financial position under the current economic environment. As of the end of fiscal year 2008, our balance sheet remains solid with estimated cash and cash equivalent of RMB605 million and no debt. The discontinuation of our B2B business will reduce significant future cash outlays, further strengthen our balance sheet, and enable us to have the flexibility to re-direct these financial resources to other potential long-term growth opportunities."

Source: http://www.foxbusiness.com/

Kerala sellers meet buyers

CHENNAI: It was not just an evening to showcase Kerala’s art forms but also promote its tourism.

"We call the event a partnership meet, where sellers of Kerala meet the buyers. Around 44 trade partners had B2B meets with 140 buyers. They briefed the buyers (tour operators) about the schemes and packages," said Satheesh K N, additional director (general), Department of Kerala Tourism.

He added that they had already conducted the meet in Bangalore, where 58 sellers participated. What followed after the meet was a cultural programme. Kerala’s art forms Mohiniyattam, Thiruvathirakali, Kathakali and the marital art form Kalaripayattu were showcased.

A statistical detail says, 5, 98, 929 foreign tourists visited Kerala in 2008, up 80,000 from the previous year.

The most important visitors are from the UK, followed by France and Germany.

Kerala Tourism together with the Kerala trade is focusing its efforts on the domestic market. Consumers can expect some great deals and value-for-money. Kerala holiday packages, branded under the Dream Season Campaign. Attractive schemes and packages by hoteliers, travel agents and tour operators will be unveiled to woo domestic travelers in a big way.

In a move to make the holiday destination even more attractive and accessible for the domestic market, Kerala Tourism will soon announce a tie-up with one of the country's leading airlines.

Source: http://www.expressbuzz.com/