Stanford spent large sums on their projects

A former employee of Texas billionaire R. Allen Stanford told the jury that the financier spent millions of dollars in property and construction business in Antigua and Barbuda in the Caribbean.

Arnold Knoche, who worked 16 years in the real estate company in Stanford, testified Tuesday during the trial of financier for fraud in Houston. He stated that his former boss was not limited to spend on a hangar at a private airport, cricket grounds, an athletic club and installation on a pier for your boat. Knoche said he was concerned about the source of money for these projects construction. He said that Stanford spent in works such as marble finishes and removal of the wooden floors of the building from their bank because they felt they were not the right tone. Prosecutors allege that Stanford used the money of savers who bought certificates of deposit to his bank in Antigua, to pay for these projects and to be a billionaire life. Stanford's lawyers consider him a smart businessman, whose financial empire was legitimate. The defense has suggested that James Davis, former chief financial officer, is the real culprit of financial fraud. Prosecutors say Stanford masterminded a scheme in which investors defrauded more than 7,000 million dollars in a massive scheme type " pyramid "focused on the sales of certificates of deposit from your bank in Antigua.

Emotion to Mobilize the Innovation Act

"The moment you fall in love a problem, you motivate yourself to finding a solution," said Rodrigo Saa, eClass Professor of Consumer Behavior, eClass during the recent seminar "Innovation for Growth."

Each day, the concept of "innovation" becomes stronger within the different companies, among the organizers encouraging, promoting and generating new ideas that are able to break paradigms, offering new services, which deliver additional value to customers as well as new revenue for the company. "If we want to innovate, we must know our audience in a classroom, living experiences. Understand their needs, their fears, their fears, and thus perceive their everyday problems. " Thus, to the extent that we can fall in love with a problem, we have the motivation to seek solutions. The skill lies in turning knowledge into actions that deliver value to others, says Rodrigo Saa, eClass teacher. In this sense, Rodrigo Saa says that we be clear about our focus and concentrate our ability and passion towards this maintaining a positive attitude that drives us on this journey. Meanwhile, Jorge Montt, says it is important to start observing and understanding customers, open position in the market with new allies, so that through a "co creation ", delivered innovative services that are valued by the customer. "The experience of moving from being a company that also carry gas to the multi-home offers, such as charging cell phones and paying bills, helped us to retain to our customers. This solved a problem for them was important, like having to leave their homes and businesses to make arrangements to go, spending time and money, "said Montt. It Montt emphasized the importance of testing and not be afraid of failure. "It is important to test projects and not stop when they do not face. Failure to innovate is a sign little bit. And as you get the first hit, it moves us to move forward, "said Jorge Montt, CEO of Gasco. eClass ABOUT BUSINESS Business eClass leading semi Business Education and Business Administration, issues diplomas and courses with certification and support of Business School of Universidad Adolfo Ibáñez. Through innovative blended learning methodology, eClass provides high levels of flexibility and efficiency, with more than 55,000 students and more than 200 companies have trained their staff .

Petrol prices to fall

Petrol will fall between $ 4 and $ 6 per gallon from Thursday

Meanwhile, the value of paraffin recorded a low of $ 2 per liter, while diesel will make $ 5, according to the National Petroleum Company.

A drop of $ 4 to $ 6 per liter benzine will experience from this Thursday, the National Petroleum Company (ENAP). Meanwhile, the value of paraffin record low of $ 2 per liter, while diesel will make $ 5.

During the reference period for calculating the prices of Enap, lowered the prices of gasoline, diesel and LPG, while prices rose slightly in paraffin and fuel oil. The state explained that despite the agreement to rescue European Greece, the uncertainty brought down the markets by the lack of political agreement between the U.S. government and leaders of the U.S. Congress to raise the debt limit. The possibility of default by the world's largest economy raised fears of a financial crisis which prompted a fall in stock markets and commodity prices, including oil.

In calculating price changes also influenced the application to import parity prices in dollars per cubic meter (U.S. $ / m3) of Sipco for gasoline and diesel, and FEPP for paraffin VAT, the exchange rate and transportation costs. "The agreement to raise the limit of U.S. government debt, finally closed last Monday, failed to reassure markets, due to possible adjustments to spending would eliminate the incentive to economic activity at a crucial moment in the cycle and precipitating the U.S. economy - and global - a new recession in the coming months, "warned the state about how prices could be affected next week.

Falabella profits grew 26% in June to $ 436 million

During the period total revenues rose 17.6% to U.S. $ 5,164 million. Meanwhile, in the second quarter earnings were $ 232 million, 13.7% higher than in the same period in 2010.

Falabella's earnings grew 25.8% in the first half of the year to $ 204,333 million (U.S. $ 436 million), according to the holding in one essential fact Superintencencia sent to the Securities and Insurance (SVS).

The revenue totals to June 2011 increased 17.6% to $ 2,417,791 million, about U.S. $ 5,164 million.

Meanwhile, in the second quarter, earnings totaled $ 108,648 of holding million (U.S. $ 232 million), 13.7% higher than in the same period in 2010.

Consolidated revenues for the quarter increased 13.3% to $ 1,249,164 million (U.S. $ 2,668 million), which are explained by the "high levels of consumption, the product of good time by passing the region and the largest number of stores opened late last year, "the company said in the document sent to the SVS.

Special package for jk

Special package to start private FMs in J&K

While giving a green signal signal to e-auction of new FM radio channels in 227 towns with over one lakh population through a private agency in phase 3, Union Cabinet here on Thursday announced special incentives for Jammu and Kashmir and the North-east. The Cabinet also allowed non-political news, features and also petmitted stations to carry the news bulletins of the government run All India Radio.

The incentives provided in the Policy for North Eastern States, besides J&K would make the operations viable in these areas and are expected to result in better off-take of channels. The steps taken in the new policy will bring down operational costs and improve viability in general, the I&B Minister said.  In J&K, the government has proposed that reserve price be kept at Rs. 5 lakh.

A significant aspect of the new guideline is that at least 11 cities in border areas of North-east even though having a population of less than 1 lakh have been included in the list for strategic reasons and to counter cross border propaganda, after consultation with Ministries of Home Affairs and Defence, sources said.

Union Information and Broadcasting Miniter Ambika Soni while outlining the new policy guideline said that private FM radio broadcasters in North-east (NE) would be required to pay half the rate of annual license fee for an initial period of three years from the date from which the annual license fee becomes payable and the permission period of fifteen (15) years begins.
The revised fee structure has also been made applicable for a period of three years, from the date of issuance of guidelines, to the existing operators in these States to enable them to effectively compete with the new operators, the Minister said.
Apart from the fee relaxation, it is further proposed that Prasar Bharati infrastructure would be made available at half the lease rentals for similar category cities in such areas, said Soni.

The limit on the ownership of Channels, at the national level, allocated to an entity has been retained at 15 percent. However, channels allotted in Jammu & Kashmir, North Eastern States and island territories will be allowed over and above the 15 percent national limit to incentivise the bidding for channels in such areas.

To improve viability, only three FM channels will be allowed in a city in this phase as against four permitted in phase 2. The lock-in period of shareholding of promoters has been also reduced from five to three years to give them greater freedom to change the ownership pattern.

Information and Broadcasting Minister Ambika Soni told a Press conference here that the Cabinet also raised ceiling on the FDIs (foreign direct investment) and foreign institutional investments in the FM radio broadcasting companies from 20 to 26 percent.

The new policy allows private operators to network their own channels across the country and own more than one channel but not more than 40 percent of total channels in a city, provided there are at least three different operators in its jurisdiction.

A company, however, cannot have more than 15 per cent of the total channels in the country, except in Jammu and Kashmir, North East and island territories.

Soni said the Cabinet okayed an ascending e-auction of airwaves for the FM channels on the lines of auction of 3G and BWA (Broadband Wireless Access) spectrum as recommended by the Group of Ministers on licensing methodology.

The permissible broadcast of information by treating it as non-news include traffic, weather, coverage of sporting and cultural events, festivals, coverage of topics pertaining to examinations, results, admissions, career counselling, employment opportunities, as also local administration's public announcements pertaining to civic amenities like electricity, water supply, natural calamities, health alerts, etc.

As a special incentive to the FM operators in Jammu and Kashmir, North East and island territories, they will be charged only half the annual licence fee for the first three years and this includes the existing operators. They will also be allowed use of the Prasar Bharti infrastructure at half the lease rentals.

The e-auction for the channels will be conducted in batches, their number depending upon the response from the bidders after auction of the first batch. Soni said the agency for conducting the e-auction will be selected through a transparent process.
She said her Ministry will separately issue a detailed Information Memorandum, in due course, enabling the prospective bidders to participate, and also indicating the cities, reserve prices city-wise, number of channels to be taken up in each batch and other procedures for e-auction. A Notice Inviting Applications (NIA) for participation in the Auction(s) will also be issued in due course of time.

Div Com inspects Yatri Bhawan

Divisional Commissioner, Jammu, Dr. Pawan Kotwal today chaired a high level officers meet-ing at Yatri Niwas, Bhagwati Nagar, Jammu to review the facilities being provided to the yatries by the admin-istration during the Shri Amarnathji Yatra.

During the meeting, Director Tourism, Mehta apprised the Divisional Commissioner that 3,318 yatries have left today for the holy cave of Lord Shiva from Yatri Niwas, Bhagwati Nagar, base camp Jammu for their onward journey towards the historic Shrine.

Those who attended the meeting were Deputy Commissioner, Jammu, Sanjeev Verma, Municipal Com-missioner, Sawhney, Chief Engineer PHE, B. R. Dogra, SP City North, J. S. Johar and other senior officers of PDD and allied departments.During the meeting Dr. Kotwal reviewed all the facilities including power, drinking water, sanitation, transport, security, langar arrangements and other facilities being provided to the Amarnathji yatries. He expressed satisfaction over the elaborate arrangements being made by all the departments and hoped that this year’s yatra will also be a grand success.

The Divisional Commissioner directed the Chief Engineer PHE to keep ready sufficient quantity of drinking water and said that soft water only be used for drinking purpose. He directed the PDD authorities to ensure that no unnecessary shut down be effected without proper consultation with the Deputy Commissioner.Later, Dr. Kotwal also visited Yatri Bhawan and enquired the yatries about the facilities being provided to them by the administration.

Google investigated by US authorities

Google confirms that it is investigated by U.S. authorities

The Federal Trade Commission United States would be investigating the company for abusing its dominant position in the web.

Through its official blog , Google confirmed today it is being investigated by the Federal Trade Commission, U.S. (FTC), which had already advanced the press a few days ago, saying the motive was primarily to study alleged monopolistic practices the company network. 

"It is unclear exactly what worries the FTC, but we have made our position clear," said Amit Singhal, Google executives said in a statement released today. 

According to various media, the FTC suspicion that Google may be abusing its dominant position in the web and harming competition. 

Among other things, authorities are expected to review the advertising system associated with the Google search engine, the main source of income for the company to see if the company directs users to its platform of services irregularly. 

"We recognize that our success has led to greater scrutiny. Yesterday we received an official notification from the Federal Trade Commission on U.S. had begun to revise our business," said Singhal. 

Finally, the Google executive said the company is willing to work with the FTC in this case to clarify the situation, and noted further that the company values ​​focus on "giving priority to the user."

University of Chile Students

Students at the University of Chile protested the Stock Exchange

A group of 35 students entered the place peacefully and spoke out against the profit in education.

At about 13.00 hours on Friday a group of 35 students from the University of Chile entered the offices of the Santiago Stock Exchange to speak out against the profit in education.

Students on campus were about 20 minutes inland in that place where deployed a canvas with the slogan "Education is not traded."

Rodrigo Munoz , a student at the U. of Chile who participated in the demonstration, told La Tercera that "the force that has taken the movement has led us to think like we're on base position to seek structural changes".

According to Munoz, the education is based on a system "that is malfunctioning and is framed in a model of a country with which we disagree. One of her emblems is the Bourse, as it integrates the whole process of foreign investment poll and all that it has brought. "

"It is also the space where they traded the shares of the private universities. We are children of parents whose pension funds are subject to stock volatility and victims of an education system based on profit," he said.

After protest, the protesters withdrew from the place peacefully and there were no prisoners.

Debt of the communities to make up a record

The debt of the communities to make up a record 11.4% of GDP

The debt of the community has set a record at the close of the first quarter after reaching 121,420 million, representing a rise of 26.4% over the same period last year, when the figure was 96.042 million .

According to the Bank of Spain published Friday, the ratio of debt to GDP of the communities reached 11.4%, compared to 9.1% a year ago and 10.9% the previous quarter. For the first time in the time series offered by the Bank of Spain (since 1995) that the ratio of debt to GDP exceeds 11%. Catalonia is the region most indebted, with 34.323 million euros.

The debt of all the government, meanwhile, grew by 17.5% to 679.779 million euros, also an absolute record in history. According to data released Friday by the Bank of Spain, this debt represents 63.6% of GDP, which in this case constitutes its highest level since March 1999. A year ago was 55%.

Most of the debt accumulated central government, with 521.007 million euros, 76% of the total, registering an increase of 16.8% last year.