The US State Department has removed "inaccurate" maps of India and Pakistan from its website which did not reflect the correct boundary and geographical locations.
"We have taken the map (of India) off the website. It did contain some inaccuracies which were associated with the boundaries of some geographic features," State Department spokesperson Victoria Nuland told reporters at a news conference on Monday.
"My understanding is that is the way that it was inaccurate, that it wasn't drawn properly," Nuland said.
"We will put up the new map when we acquire one that we are confident is accurate," she said in response to a question but did not answer questions from where such inaccurate map came from.
"This was unintentional. We're going to get the map fixed and put up a fixed map," Nuland said.
The State Department is also pulling out such maps from other sections of its website, she said adding that this was unintentional.
The State Department pulled out from its website the maps of both India and Pakistan, as they showed Pakistan-occupied Kashmir (PoK) as part of Pakistan, which was first reported by the Times of India, following which the Indian government had lodged a strong protest with the State Department.
Under its A-Z list of countries, the website www.state. gov carries profiles and maps of all countries with which the US has diplomatic relations.
Nov 22, 2011
Infosys warns of revenue slowdown in business
Infosys has raised a warning sign about the deteriorating economic environment which has the potential to adversely affect revenue growth in the coming months soon.
V Balakrishnan, the Bangalore-based company's chief financial officer, said the company will not miss its revenue growth forecast for the October-December quarter or the financial year ending in March. But he said India's second-largest software exporter, which has earned a reputation as a company that exceeds its guidance regularly, cannot confirm that sales growth will be at the upper end of the forecast.
"The world is in a terrible mess and things are deteriorating. We will be somewhere in the range. We don't know whether it will be at the lower end or the upper end," Balakrishnan told ET on Monday.
Earlier in the day, Dow Jones newswire quoted Balakrishnan as saying Infosys may miss the upper end of its sales growth forecast of 3-5% for the December quarter and 17.1-19.1% for the financial year, or $7.08-7.2 billion.
Infosys is regarded as a bellwether for the software industry and any comment by the company is closely watched for signals about what it portends for the rest.
Infosys' language on its prospects has been cautious from the beginning of the financial year.
The company has been warning that globally uncertainty remains high and decision-making takes longer even though customer spending has not come down so far. "The whole idea of giving a range is that we will be in that range. If we had to only meet the top end of the forecast, I would only give that number," he said. Analysts are not reading any extra negativity in Infosys' latest comment, saying this is what they have been hearing from the company all along.
"Infosys has been cautious from the beginning and we do not see any change in stance," said Shashi Bhushan, an analyst at brokerage Prabhudas Lilladher.
V Balakrishnan, the Bangalore-based company's chief financial officer, said the company will not miss its revenue growth forecast for the October-December quarter or the financial year ending in March. But he said India's second-largest software exporter, which has earned a reputation as a company that exceeds its guidance regularly, cannot confirm that sales growth will be at the upper end of the forecast.
"The world is in a terrible mess and things are deteriorating. We will be somewhere in the range. We don't know whether it will be at the lower end or the upper end," Balakrishnan told ET on Monday.
Earlier in the day, Dow Jones newswire quoted Balakrishnan as saying Infosys may miss the upper end of its sales growth forecast of 3-5% for the December quarter and 17.1-19.1% for the financial year, or $7.08-7.2 billion.
Infosys is regarded as a bellwether for the software industry and any comment by the company is closely watched for signals about what it portends for the rest.
Infosys' language on its prospects has been cautious from the beginning of the financial year.
The company has been warning that globally uncertainty remains high and decision-making takes longer even though customer spending has not come down so far. "The whole idea of giving a range is that we will be in that range. If we had to only meet the top end of the forecast, I would only give that number," he said. Analysts are not reading any extra negativity in Infosys' latest comment, saying this is what they have been hearing from the company all along.
"Infosys has been cautious from the beginning and we do not see any change in stance," said Shashi Bhushan, an analyst at brokerage Prabhudas Lilladher.
Jet Airways needs to raise funds: Auditors
The auditors of India's biggest carrier Jet Airways have warned the company needs to raise funds or generate cash flows in the future to meets its obligations, including financial support to its loss-making subsidiary JetLite.
Deloitte Haskins & Sells and Chaturvedi & Shah said in a report dated November 11 that raising money is crucial if Jet's accounts have to be prepared on a "going concern basis" in the future. The report was released to the stock exchange on Monday.
In September, auditors of smaller rival Kingfisher Airlines had warned the carrier needed to infuse funds to continue as a "going concern".
Jet, which enjoys nearly a quarter of the market share , swung to a net loss in September quarter, compared with a profit a year ago, hurt by rising fuel prices and a forex loss in the quarter.
"Jet is better relative to Kingfisher in terms of financial strength. I definitely think they will make a profit over the time and shore up their capital," said an analyst with a local brokerage who requested anonymity.
The company's shares rose as much as 4.5 percent in early deals on Wednesday, despite the auditor's comments. At 12.31 pm (0701 GMT), they were up 3.95 percent at 248.6 rupees.
"Jet has a different business model.... They have a preponderous international fleet, adequate flight strength and they have been able to protect their market share. It will be able to meet its obligation to service debt," the analyst added.
Shares of the carrier, valued by the market at over $400 million, have lost as much as 67.5 percent of their value in 2011.
Deloitte Haskins & Sells and Chaturvedi & Shah said in a report dated November 11 that raising money is crucial if Jet's accounts have to be prepared on a "going concern basis" in the future. The report was released to the stock exchange on Monday.
In September, auditors of smaller rival Kingfisher Airlines had warned the carrier needed to infuse funds to continue as a "going concern".
Jet, which enjoys nearly a quarter of the market share , swung to a net loss in September quarter, compared with a profit a year ago, hurt by rising fuel prices and a forex loss in the quarter.
"Jet is better relative to Kingfisher in terms of financial strength. I definitely think they will make a profit over the time and shore up their capital," said an analyst with a local brokerage who requested anonymity.
The company's shares rose as much as 4.5 percent in early deals on Wednesday, despite the auditor's comments. At 12.31 pm (0701 GMT), they were up 3.95 percent at 248.6 rupees.
"Jet has a different business model.... They have a preponderous international fleet, adequate flight strength and they have been able to protect their market share. It will be able to meet its obligation to service debt," the analyst added.
Shares of the carrier, valued by the market at over $400 million, have lost as much as 67.5 percent of their value in 2011.
Rupee at historic low against US dollar, looks vulnerable
The rupee skidded to an
all-time low on Tuesday as oil refiners and other companies scrambled to
buy dollars, with the currency looking increasingly vulnerable to a
swelling current account deficit.
Exposure to short-term portfolio flows, a rising oil import bill and slowing export growth have heightened the risk on the rupee and the outlook remains bearish.
There is also the increasing likelihood the US super committee will fail to reach a deal on debt restructuring, which could trigger another major round of selling of emerging market and risky assets.
It looks like Indian market may crash more due to lack of policy making and political will by congress government with sackful of scams.
Exposure to short-term portfolio flows, a rising oil import bill and slowing export growth have heightened the risk on the rupee and the outlook remains bearish.
There is also the increasing likelihood the US super committee will fail to reach a deal on debt restructuring, which could trigger another major round of selling of emerging market and risky assets.
It looks like Indian market may crash more due to lack of policy making and political will by congress government with sackful of scams.
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