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Issue Date: June 15, 2008 7/4/2008
 
A Crisis at Hand

High energy costs felt across board; experts debate if ‘Peak Oil’ looms


 

When the Dow Chemical Co. disclosed in late May that it would raise its prices across the board to offset the rising costs of energy, raw materials and transportation, the announcement made headlines not just because of the size of the planned increases – up to 20 percent – but also for the sternly worded statement that the Midland, Mich.-based company issued along with it.

Dow Chemical chief executive officer Andrew Liveris took the unusual step of casting blame at the nation's energy-policy makers for failing to develop a sound energy strategy.

"For years, Washington has failed to address the issue of rising energy costs and, as a result, the country now faces a true energy crisis, one that is causing serious harm to America's manufacturing sector and all consumers of energy," Liveris said. "Our first-quarter feedstock and energy bill leapt a staggering 42 percent year-over-year, and that trajectory has continued, with the cost of oil and natural gas climbing ever higher.

(Click on headline for complete article)

 
 

 

Gurgaon firm tours U.S. promoting subcontinent real estate
 
 
Centra Realty makes stops in New York, Philly, Boston


GURGAON, India – Ashish Bahadur and the Gurgaon-based Centra Realty Pvt. Ltd. have spent half a decade delving into India’s real estate market. Bahadur knows its potential and is now on a quest to enlighten American investors about the opportunity.

 
Craigslist founder headlines TiECON East
 
 
Final night chat with Newmark details subtle Internet success


WALTHAM, Mass. – The Boston chapter of The Indus Entrepreneurs welcomed a customer-service representative from one of the world’s most popular Web sites as the premier speaker at the organization's annual convention, TiECON East 2008, which wrapped up May 30 after a two-day run.

 
TiECON panel: India’s outsourcing market no bubble
 

Experts predict industry will continue to flourish

WALTHAM, Mass. – Unlike the technology waves of the 1980s and 1990s with limited life-cycles, interest in outsourcing to India has not peaked and will not subside anytime soon, according to a panel of outsourcing experts who gathered at the recent TiECon East 2008 conference.

 
Sterlite to buy copper giant for $2.6b
 
 
Sale to Mumbai mining business comes  during Asarco’s Chapter 11 bankruptcy


TUCSON, Ariz. – Indian mining and manufacturing giant Sterlite Industries Ltd. will acquire Asarco LLC, the third-largest copper producer in the United States, for $2.6 billion.

 
Cutting fuel consumption to take dedicated effort
 
 
MIT researcher examines U.S.’s pressing problem


CAMBRIDGE, Mass. – It is possible to slash fuel use by all vehicles on U.S. roads to pre-2000 levels within a few decades, but doing so will require an immediate and herculean effort in several areas, according to data issued recently by researchers at the Massachusetts Institute of Technology.

 
SunEdison grabs $131m funding is big VC score
 
VC Report

Solar energy provider SunEdison LLC recently hauled in $131 million in venture capital, yielding the largest round yet for a South Asian-run business this year. The Beltsville, Md.-based company also secured $30 million in debt financing as part of the deal. Financial backers included Greylock Partners; HSH Nordbank AG; Applied Ventures LLC; Black River Commodity Clean Energy Investment Fund; MissionPoint Capital Partners; and Allco Renewable Energy Ltd.

 
Bharat Desai
 

 
Chairman, CEO, Syntel Inc.


Bharat Desai is chairman, chief executive officer and co-founder of Syntel Inc., an IT-services and knowledge process outsourcing firm headquartered in Troy, Mich.

 
Capgemini deal fuels Winshuttle
 
Wash. company expects 2008 revenue to double

BOTHELL, Wash. – Winshuttle Inc., a private software company, entered into an alliance with Capgemini that will push the company further out in the marketplace and help grow its revenue to an expected $10.5 million in 2008, up from $5.5 million in 2007.  

 
Wheeling and dealing
 
 

E-commerce company Ignify has high hopes for new integration with Microsoft business-management tools

LOS ANGELES – Ignify Inc., a company that specializes in e-commerce services, will now integrate with all Microsoft enterprise resource planning products, in an effort to help its customers better control their business relationships.

 
Snapfish gobbles up MeraSnap users
 
 
HP company continues growth as industry head


SAN FRANCISCO – The world's largest Web-based, digital-photo-processing service has just gotten a lot bigger. Snapfish by HP, the online photo venture launched at the height of the dot-com era and now owned by American IT giant Hewlett-Packard Co., has acquired all of the customers of MeraSnap.com, one of India's most popular photo-processing Web sites and a direct competitor to the Indian version of Snapfish.

 
Providence to invest $640m into Aditya Birla
 

PROVIDENCE, R.I. – Providence Equity Partners plans to invest $640 million in Indian wireless communications company Aditya Birla Telecom Ltd., a wholly-owned subsidiary of Idea Cellular Ltd.

The Providence investment will be used to fund the network rollout and ongoing operations of Aditya Birla Telecom.

 
Getting a foot in the research door
 
 
MIT students provide prosthetic work to India


CAMBRIDGE, Mass. – The Massachusetts Institute of Technology is working with India’s Jaipur Foot Organization to fit its patients with prosthetic limbs more efficiently.

 
Pioneer donates to Indian group that provides medical support for rural areas
 

BOSTON – In May, Pioneer Investments provided Medical Relief for India with support for their medical operations in rural areas of India.

Dr. K.S. Charak and Susan Pfau, both of Medical Relief for India, were in Boston to accept the funds as a result of a recent “Denim Day” held at Pioneer Investments which were then matched by the company.

 
SINUS SUCCESS
 
 

A lesson in market perseverance, sprayed with a little bit of luck

SANTA ROSA, Calif. – Most successful entrepreneurs tackle a problem, start a company that solves it and then hit the market. Dr. Ketan Mehta is no different – except that the problem he addressed with his NeilMed Pharmaceuticals Inc. was his own.

 
New PerkinElmer office to target Indian growth
 
Neonatal, maternal tests, research tabbed as key

WALTHAM, Mass. – PerkinElmer has expanded its health and environmental focus to India with the opening of a new global EcoAnalytix application and technical center in Mumbai.

 
InSite signs licensing deal for pink eye drug in Turkey
 

ALAMEDA, Calif. – InSite Vision Inc. has signed a licensing and distribution agreement with Biem Pharmaceuticals, an ophthalmology-focused Turkish pharmaceutical company, for InSite's AzaSite azithromycin ophthalmic solution or the treatment of bacterial conjunctivitis, commonly known as pink eye.

 
Chief financial officers play key role in pharma success
 

Surveys find cash focus now on managing return

ISELIN, N.J. – Two separate Ernst & Young surveys underscore important changes in the role of the chief financial officer and finance function in driving the success of pharmaceutical companies.

 
Special Report: Franchise Finance
 
 

From the outside the franchise industry is often generalized into a number of segments but, as an insider knows, a closer look reveals such a wide variety of concepts – even within these segments – that the choices are dizzying. The same holds true for franchise financing.

 
Plain Jane no more: Motel 6 gets boutique styling
 
 
Accor hopes to establish economy hotel standard


CARROLLTON, Texas – Here’s an idea for a new reality-television show, filmed on location at a Motel 6 anywhere in the United States: “Extreme Makeover: Hotel Edition.” The premise of the show is to give the dated property a fresh upgrade.

 
Diplomat’s president given Ellis Island Medal of Honor
 
 

ATLANTA – Mukesh “Mike” Patel was among this year’s recipients of the Ellis Island Medal of Honor given by the National Ethnic Coalition on May 10 in New York City. 

 
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