Regenerative medicine crossed another milestone this week when scientists at the University of Lund in Sweden demonstrated the direct conversion of skin tissue cells into nerve cells. So far, the standard technique in this field has been to convert adult cells (usually from the skin) into stem cells, and then converting stem cells into tissues or organs that have to be transplanted. This method has several risks and has not worked well in humans so far, although a few recent breakthroughs seem promising. The new method skirts the stem-cell route, and so avoids most of the risks associated with it.Regenerative medicine is in some ways the Holy Grail of modern medicine. Damaged organs such as kidney, liver or the retina can seldom be repaired through drugs. The only way out is to transplant a new organ. This works for some time, but brings with it other risks such as rejection. The average life expectancy of a patient with a transplanted kidney, for example, is 10-15 years. Regene-rative medicine can one day provide these people with their own organs, but so far it has not worked to the extent required for field use.Regenerative medicine is useful not just in transplanting organs. Bone marrow transplants are being used to treat leukaemia patients. Many neural diseases can in theory be treated with regenerated cells. For example, Parkinson's disease, caused by degeneration of brain cells that produce a chemical called dopamine (an important neurotransmitter involved in many brain functions) can, in theory, be treated by transplanted brain cells. However, this method has not worked in practice so far.The use of stem cells in regenerative medicine has been dogged by several controversies. The use of embryonic stem cells has been criticised as unethical and has been banned at various times in several countries. Scientists have learned to convert adult cells — particularly of the skin — into a type of stem cell called pluripotent cells (which are capable of differentiating into most organs in the body), but the use of pluripotent stem cells in therapy is dangerous because they sometimes lead to tumours. The current method in Lund avoids this step, and converts cells of one type directly into cells of another type.The Lund scientists have achieved this by reprogramming the skin cell, of a type called fibroblasts. Cells differentiate into different types because different kinds of genes become active in different kinds of tissues. You can use this process to change cells of one type into another. For example, if you shut down the liver genes in the liver cells and activate the retina genes, the liver cells will be converted into retinal cells. Lund scientists, led by Malin Parmar at the department of developmental neurology, found that this technique was much easier than people thought.Parmar and her team activated three nerve cell genes in the fibroblasts, and another two genes involved in dopamine synthesis. This led to the conversion of the fibroblasts into dopamine-producing nerve cells, thereby demonstrating a possible therapy method for Parkinson's disease. This was a major breakthrough because it opened a new avenue of research with immense potential. For scientists to actually use it in a clinical trial, they need to see how the new neurons grow in the brain. They need to optimise their methods with the right kind of starting cell, see how well the new neurons grow in the brain, whether they survive in the long term, and also how well they produce dopamine. Of course, they would also need to see whether the patients get better with the treatment. (This story was published in Businessworld Issue Dated 27-06-2011)
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Amidst panic in the stock market over double tax avoidance treaty with Mauritius, the government on Monday said India "cannot impose arbitrarily" capital gains tax on investment routed through the island nation."How can you do that? There has to be some agreement on that. Right now, it is not there in the agreement. You cannot impose it arbitrarily," Finance Secretary Sunil Mitra told PTI.However, he said the two nations are likely to hold discussions on revision of the double tax avoidance treaty, which has been used for routing third country investment into India for availing of tax exemptions.The BSE benchmark Sensex plunged by over 556 points in intra-day trade on Monday on widespread panic selling by funds as well as retail investors, triggered by reports that the government may impose capital gains tax on investments through Mauritius.There was a recovery in the market in the afternoon, but the Sensex was trading 336 points lower 1450 hours.Asked to comment on the market fall, Mitra said," that is up to the market. What can I say".The Finance Secretary said the process of renegotiation of the tax treaty with the island nation began in 2006 through a joint working group, but got stalled in 2008.New Delhi has suggested dates in July and August for resumption of talks. "They have to give their consent," he said.Under the present treaty, only Mauritius has the right to tax capital gains on investment which is routed through it in India. But it does not levy any tax as per its domestic policies giving advantage to the investors.Most of the foreign direct investment as also the inflows in the stock market are round-tripped through Mauritius. PTI NKD PC(PTI)
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Gaming is no longer for kids. Computer manufacturers are coming up with gaming machines that eclipse the power and performance of your meticulously assembled home and office PCs. And the advocates of the fun and advantages of console gaming have to agree that the visual and aural images that a cross-platform game evokes on a gaming PC are far superior to those on a console.Made for pros, gaming PCs are awe-inspiring monsters that feature only the most powerful and branded components. From the unique exterior down to the inside cabling, they look awesome and cater to a niche but growing number of enthusiasts. We list five such PCs that are custom-built and wow with their lightning fast performance. Expectedly, these are expensive — in fact, more expensive than the average fancy laptop. Courtesy: Digital Storm Digital Storm Assassin"Powerful is an understatement," proudly proclaims the digital storm website. And indeed, the handsome Digital Storm Assassin is more than a powerful gaming machine: the build quality of the system and the manufacturer's dedicated customer service make it a recommended buy for those who can afford $1,627 (Rs 72,978). Featuring 8-GB DDR3 memory and an Intel Core i5 2500K 3.30GHz processor, the Assassin also sports a much-needed 1-TB Western Digital Caviar hard disk drive, while a 1-GB NVIDIA GeForce graphics card makes gaming a visual delight on the black machine. However, the ASUS motherboard with Intel P67 Chipset does not support Scalable Link Interface (SLI), a technology that's meant to increase the processing power available for graphics. Courtesy: Dell Alienware Aurora The science-fiction-inspired designs of the alienware brand of pcs from Dell have always been a big hit, even with those who don't play games. The Alienware Aurora, for example, sports a case that reminds one of an alien's head. Apart from boasting an 8-GB RAM (upgradable to 16-GB!), it also comes equipped with a whopping 2-TB hard drive. The capable Intel Core i5 processor and the 1-GB AMD Radeon high-definition video card give the alien monster all the power it needs to run heavy, graphics-intensive games, be it The Witcher 2 or your old favourite Tomb Raider: Legend. However, the Aurora's processor boosting limit is clocked at 3.3GHz, which, when compared with some of its rivals, looks insufficient. Some of the Aurora's other standard features include integrated 7.1-channel audio, Alienware High-Performance Liquid Cooling and AlienFX lighting. So, if you are game, get ready to shell out $1,299 (Rs 58,097) to catch this powerful monster of a gaming PC. Courtesy: Maingear Maingear ShiftThe sturdy-looking chassis with advanced vertical heat Dissipation of the Maingear Shift is more than a façade. The brushed black aluminium exterior houses a CPU that boasts the power of an Intel Core i5 processor and 8-GB Crucial DDR3 memory. The system also comes equipped with a 64-GB solid-state drive, a 1-TB Samsung hard drive and a decent cooler. However, adding extra hard drives is a big problem, courtesy the pre-wired layouts in the two additional hard drive bays. When it comes to graphics, the Maingear Shift features the staggering 1-GB power of an NVIDIA GeForce GPU. Considering the full specifications, the fact remains that a retail price of $2,040 (Rs 91,239) makes the Shift slightly overpriced as many of its less expensive rivals also deliver similar — and better — performance.CyberPower Black PearlThe Cyberpower Black Pearl is an object d'art in its own right. The machine flaunts a beautiful Azza Hurrican 2000 Full Tower Gaming Case that houses an Intel Core i7 processor and a motherboard featuring an Asus Sabertooth X58 chipset complementing the CPU. The staggering capacity of 12-GB onboard memory and a 1-TB SATA hard drive add to the joys of the dedicated gamer. It also boasts a 1-GB AMD Radeon HD video card and Asetek 510LC Liquid Cooling System, while 7.1 HD audio comes standard with the system. But with the base model itself having a starting price of $1,299 (Rs 58,097), it is no wonder that the Black Pearl will make a sizeable hole in your pocket. Courtesy: Velocity Micro Velocity Raptor Signature EditionIt turns out that the raptor signature Edition from Velocity Micro is one of the most expensive gaming PCs in the market. Its scary price of $4,549 (Rs 2,03,454) aside, it is also one of fastest gaming monsters — the Intel Core i7 Extreme Edition processor and the Intel motherboard with X58 chipset are apt to handle multitasking while the SLI-ready NVIDIA GeForce video card renders high-end graphics. However, given its price and the Signature Edition tag (the system comes with the signature of Velocity Micro's founder and CEO Randy Copeland), the 6-GB memory looks paltry and the loud cooling hardware is something of a downer. Thankfully, it comes equipped with a 2-TB hard drive and a Blu-ray reader. Also, a premium Razer gaming keyboard is supplied with the machine. (This story was published in Businessworld Issue Dated 27-06-2011)
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The recommendations of the high-powered Expert Committee (HPEC) on Urban Infrastructure, set up by former urban development minister Jaipal Reddy, have to traverse some more distance. Constituted in 2008, HPEC submitted its findings last month on the problems of leap-frogging urbanisation and the financial measures necessary to make our cities more efficient and liveable. Kamal Nath, the current minister, has asked the committee to "revisit the report and come up with a concrete roadmap to help implement its recommendations".The HPEC, mandated to estimate investment requirements for urban infrastructure for the next 12 years, was headed by Isher Judge Ahluwalia, chairperson of Indian Council for Research on International Economic Relations (Icrier), and included Nasser Munjee, deputy chairman, Infrastructure Development and Finance Company (IDFC); Hari Sankaran, managing director, IL&FS; and P.K. Srivastava, joint secretary and mission director of Jawaharlal Nehru National Urban Renewal Mission (JNNURM).The HPEC doesn't sound the normal doomsday warnings. Figures show that India — with 30 per cent of its population living in towns and cities — is far behind other developing markets such as China (45 per cent) and Brazil (87 per cent). Unmistakably, though, the growth of Indian cities is striding forward. The number of cities with more than one million people will go up from 50 to 87 by 2020, and India's urban populace will be 600 million by 2031. HPEC sees cities as the future engines of growth. "India's economic growth momentum cannot be sustained if urbanisation is not actively facilitated," and predicts that as much as 80 per cent of the country's GDP will come from the urban sprawls by 2031.The report's recommendations are divided into three parts: First, investing Rs 39.2 lakh crore in urban infrastructure over 20 years with the bulk targeting development of urban roads, water and waste management and for re-housing slums. It also pleads for giving much more importance to urban planning and seeks a hike in investment from 0.7 per cent of GDP in 2011-12 to 1.1 per cent by 2031. Next, it pitches strongly for strengthening of governance particularly of the urban local bodies. The only way urban transformation will happen is when the current bungling and financially bankrupt municipal and local bodies are souped up with efficient and autonomous administration, improved tax collection, and the ability to raise funds from the market for specific programmes and projects.Finally, the Ahluwalia report argues for a programme-based roadmap instead of the current piecemeal project-based approach. In this context, the analysis of the JNNURM implementation is interesting. Kicked off in 2005, the JNNURM was allocated Rs 66,000 crore by the government of India. Of this, less than half — Rs 28,650 crore — has been disbursed so far, and, of the 526 infrastructure projects sanctioned, only 84 have been completed.Asked to comment on Nath referring back the Urban Infrastructure report to the committee, HPEC's chairperson Isher Ahluwalia told BW: "The minister asking for a roadmap is a compliment. The work of the Committee is over but we will constitute a small working group and submit a ‘roadmap' in a month or so."The committee has in fact put forward specific reforms and proposed delivery structures. These include creating an urban affairs ministry and an accountable and empowered Mayor at the level of the urban municipal bodies, pooling of taxes and resources between local bodies, and a suggestion for training 300 IAS officers annually as dedicated ‘urban specialists'.(This story was published in Businessworld Issue Dated 16-05-2011)
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Succession in corporate India has its share of problems, but the same in government-owned companies is strange. Take Life Insurance Corporation of India (LIC), India's largest insurance firm by many a mile. In the past few days, the government announced that Rakesh Singh, an IAS official, would be interim chairman for three months. (He also has additional charge of National Bank For Agriculture And Rural Development, or Nabard). The man he is replacing, T.S. Vijayan, has about two years of service left, but is being demoted to managing director.What is odd is that usually the government has a reservoir of talent it can draw upon. Yet it has been unable to find one that fits the bill for LIC. True, there has been a recent reshuffle of the senior-most bureaucrats in some ministries; also true, the Congress is fighting elections in no less than five states, and is under the microscope for scandals in the conduct of the Commonwealth Games and 2G spectrum allocations, so it may be occupied elsewhere.But LIC is the biggest financial institution in India that collects and invests nearly Rs 60,000 crore each year in insurance premiums. Its investments can move markets, and managing a portfolio of about Rs 12 lakh crore is a gargantuan task. This is more than adequate reason for the government to ensure that a successor to Vijayan is found quickly.What makes this even more complicated is that Vijayan still has two years left before he retires; he joined LIC in 1977 in the marketing division. No rationale for this decision has been provided, though there is considerable speculation about the losses — this is unconfirmed — that some of his decisions may have caused. Exits, like successions, should be graceful.(This story was published in Businessworld Issue Dated 16-05-2011)
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US donations to charity rose to $291 billion last year, a study found on Monday, but it was still more than 6 percent below a 2007 record as the nation struggles to recover from its worst recession in decades.Americans gave nearly 4 percent more in 2010 compared to 2009, the Giving USA Foundation and the Center on Philanthropy at Indiana University said, perking up after the recession sparked the biggest giving slump in four decades.Revised estimates by the study, which started in 1956, showed that during the financial crisis giving fell more than $10 billion in 2008 to $299.8 billion and then dropped more than 6 percent in 2009 to $280.3 billion.Patrick Rooney, executive director of the Center on Philanthropy at Indiana University, said that giving in 2010 grew by 2.1 per cent after adjusting for inflation."But the sobering reality is that many nonprofits are still hurting, and if giving continues to grow at that rate, it will take five to six more years just to return to the level of giving we saw before the Great Recession," he said.The study estimates the giving by about 75 million US households, up to 1.5 million corporations, an estimated 120,000 estates and about 77,000 foundations. That money goes to more than 1.2 million registered charities and some 350,000 American religious congregations.Individual giving rose by 2.7 per cent in 2010 to $211.7 billion, charitable bequests soared nearly 19 percent to $22.8 billion, foundation giving remained unchanged at $41 billion and corporate giving rose more than 10 percent to $15 billion.Edith Falk, chairwoman of the Giving USA Foundation, a philanthropic research group, said that while giving had started to rebound, the gains "suggest philanthropy is likely in for slow growth over the next several years" and changes in donor behavior during the recession are likely here to stay."More corporations are focusing their philanthropy on organizations and causes that closely align with their missions and values. And foundations have been reluctant to take on new programs or fund new organizations," she said.More than a third of US donations go to religious groups, while education accounts for 14 percent, giving to foundations makes up 11 percent, human services receives 9 percent, health picks up 8 percent and public society groups 8 percent.Arts and culture groups got 5 per cent of the total, along with international affairs, which includes relief, development and public policy initiatives. Environmental and animal groups picked up 2 percent, and another 2 percent went to individuals, most often in the form of medications.Donations that cannot be attributed to any one particular sector make up the last 1 percent.The figures in the report are based on tax data, government estimates for economic indicators, and information from other research institutions.(Reuters)
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There has been a change of guard at one of the most coveted bureaucratic posts. S. Sundareshan was replaced as petroleum secretary by Girish Chandra Chaturvedi. For the first time in 13 years, a petroleum secretary has been transferred; the last was T.S. Vijayaraghavan in 1998. Since then all officers at this post have retired rather than moving to another ministry.The move comes at a time when the petroleum ministry, and more particularly Sundareshan, was dealing with several critical issues: the $9.6-billion Cairn-Vedanta deal is awaiting clearance, as is BP's acquisition of 30 per cent stake in Reliance Industries' (RIL) 23 oil and gas blocks. Then there is the impasse between the oil and gas regulator and RIL over production at the Krishna-Godavari basin's D6 well. Sundareshan, some officials believe, was one of the biggest hurdles in the clearance of the Cairn-Vedanta deal.Sundareshan's transfer was talked of since S. Jaipal Reddy replaced Murli Deora as the petroleum minister. The 1976-batch Kerala cadre officer had joined the ministry in 2007 as an additional secretary, and became secretary in January last year. He now moves to the heavy industries ministry.Chaturvedi, a 1977 batch officer of the Uttar Pradesh cadre, was special secretary at the finance ministry and took charge as special director-general of the Commonwealth Games in July last year when the preparations were threatening to fall apart. The new posting is being seen as a reward.(This story was published in Businessworld Issue Dated 16-05-2011)
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Oil and Natural Gas Corp said it was in talks with Russia's Bashneft and RussNeft to merge its Russian assets, but no approval had been received from the Indian government.The Economic Times had reported on Monday the cabinet had approved the merger proposal that would give state-run ONGC 25 per cent stake in the combined entity and access to one of the biggest discovered oilfields in Russia."We are in discussion but nothing has been finalised. No such proposal was put up for cabinet," ONGC Chairman A.K. Hazarika told Reuters. "This news is incorrect."ONGC has long eyed a deal with Bashneft, a unit of telecoms-to-oil group Sistema as well as involvement in the Arctic fields of Trebs and Titov, as it seeks to broaden its oil and gas base in Russia, the world's top energy exporter.But a merger of Bashneft and RussNeft is a long way off.Last week, Sistema President Mikhail Shamolin said the company may consider merging Bashneft and RussNeft once the latter's debt falls below $4 billion, but given current oil prices it may be a few years before that debt falls to the required level, the Interfax agency reported.ONGC already has a stake in Russia's Sakhalin-1 oil and gas project in the Pacific, and in 2008 it acquired the Imperial Energy oil company in western Siberia.Last December, Sistema and ONGC signed a non-binding agreement to consider asset swaps and joint tapping of Russia's energy deposits.At 10:55 a.m. (0525 GMT), shares in ONGC were trading 2.1 per cent lower at 260.30 rupees in a Mumbai market down 1.8 percent.(Reuters)
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Hundreds of millions of Indians living in the country's overcrowded cities must get used to paying more for better public services as the government pushes a huge infrastructure privatisation programme, urban development minister Kamal Nath said.The Indian economy is one of the fastest growing in the world, but city councils are struggling to pay for the rocketing demands for electricity, clean water and good roads in some of the most populous cities and biggest slums on the globe.Instead, the Indian government must foster the growth of domestic and foreign companies to lift the lid on privatisation in public utilities, passing the costs on to consumers, Kamal Nath said at the Reuters Global Real Estate and Infrastructure Summit."Everything has happened for free in the municipalities," Nath said in an interview at his office in the capital."This has to change, and it requires a huge mindset change."The government has pushed privatisation in the form of public-private partnerships (PPPs) to plug huge infrastructure gaps that put the brakes on faster economic growth.The government aims to invest $1 trillion in the sector between 2012 and 2017, half of which will come from private money.A drive towards such a development model means private construction companies are, for example, building slick roads across the country and charging drivers toll fares.That's a world away from the free but shoddy services that plagued India's state-planned economy before liberalisation in 1991.Nath, a charismatic stalwart in the ruling Congress party, who in his previous post as road transport minister energetically courted foreign investors for highway projects, wants to push such a transformation in city utilities."We've got to develop the right PPP models," he said. "We are now having discussions, we are engaging with financial institutions, on what is the right PPP model."I think that in our water waste disposal, we should target at least 50 per cent (of funds from the private sector), and for this we need to be having proper PPP models," he added.A push for private partnerships could open more doors for infrastructure firms such as GMR Infrastructure Reliance Infrastructure Ltd and SPML Infra.GMR operates India's biggest airport, while Reliance is building the Mumbai metro. SPML runs water utilities for municipalities.Inviting private companies will improve services as well as the finances of municipal corporations, opening the door for India to deepen its municipal bond market in the government's next five-year economic plan, which runs to 2017, he said."Our bond market is very weak, and that is one of our challenges," Nath said.Stake SaleIndia plans to sell a 10 per cent stake in the National Buildings Construction Corp (NBCC), the country's largest state-run construction company in three months, Nath said.An influx of poor, rural migrants has fed a population explosion that may see 590 million people -- nearly double the population of the United States -- live in Indian cities by 2030, an estimate by the McKinsey Global Institute showed.Indian drivers face an average peak morning commute of more than one-and-half hours to two hours, while its cities treat only 30 per cent of sewage generated and its sewers reach less than two-thirds of the population, the McKinsey report showed."The carrying capacity of our existing urban areas is already way exceeded," Nath said."Because of this, there is so much stress in every urban infrastructure activity of ours."(Reuters)
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It has been in the eye of the storm almost ever since it was conceived. Last week, the government gave the go-ahead to the 9,900 MW nuclear power plant at Jaitapur in Ratnagiri district of Maharashtra. Once completed, it would be the single-largest power plant in India. Jaitapur got the clearance despite opposition from the residents of the region. Apart from dislocating villagers from the mango bowl of Maharashtra, the plant is located on the coast in a seismic zone — though a significantly lower one than Fukushima, Japan. Situated 10 metres above mean sea level, the threat of a tsunami affecting operations is also relatively lower.While most countries are reviewing their nuclear power strategy, India has decided to go ahead with the Jaitapur plant. The question is why.By this decision, the government has indicated that India's nuclear power programme will continue despite Fukushima. As things stand, nuclear power could be critical in meeting the growing power demand in the country. At present, India has 20 nuclear reactors at six locations that generate 4,780 MW of power, which accounts for just 2.2 per cent of India's total power generating capacity. The government expects nuclear power plants to generate 20,000 MW by 2020 and 63,000 MW by 2032.With GDP growing at over 8 per cent per annum, India would need power generation capacity to grow at close to 10 per cent per annum. It also fits in with the government's plans to add 100,000 MW of power generating capacity during the 12th Plan (2012-17).India has been looking to expand nuclear power capacity in a big way ever since the 2008 nuclear deal with the US. It has signed preliminary agreements with the US, France and Russia for acquisition of new reactors. It is in this context that Jaitapur has got the green signal.The 9,900-MW Jaitapur nuclear power plant will have six nuclear reactors of 1,650 MW each to be set up in three phases. The first phase will have two European pressurised reactors (EPR) supplied by France's Areva. That is likely to be commissioned in 2018. The capacity at Jaitapur alone will be more than double the current nuclear power capacity of 4780 MW.While there have been concerns on the EPR, government officials point out that these are commercial reactors and not experimental reactors. They are upgraded versions of French N4 and German Konvoi reactors that have been in use for several years in these countries. French EPRs are currently under construction in Finland, France and China.The action on the nuclear front is not just limited to adding power-generation capacity. The government is expected to introduce a Bill in the next session of Parliament for the formation of an independent and autonomous nuclear regulatory authority.While that is a step in the right direction, the big issue at stake now with Jaitapur is the environmental impact of the project and long-term safety. If the government manages to address these issues directly, it could well assuage the anti-nuclear groups in the country and open the doors to setting up more nuclear power plants.(This story was published in Businessworld Issue Dated 16-05-2011)
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