India is the second country of the world, after Brazil, where the currency futures are more liquid than the currency forwards. Today when I glanced at the order book of the near month rupee-dollar futures, I was struck by the big numbers that are visible: The tick size of this market is 0.25 paisa, so the top five prices cover 1.25 paisa on each side. So there’s nothing interesting about the prices: I focus on the quantities
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Liquidity on the currency futures vs. the Nifty futures
In India, inflation measurement is commonly done using year-on-year growth rates. The change in a price index from March 2009 to March 2010 shows the average rate of change over the 12 intervening months. But the most important thing to focus on is the point-on-point change seen in January, February and March
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Measuring inflation better
Mid-March a special plenary session of the Canadian standard committee isacc was convened in Ottawa to review the final report of the Canadian IPv6 Task Group. It was unanimously approved and the essence of its 66 pages are seven recommendations for Government, Industry, Service and Content providers, and the regulator, CRTC to proceed with diligence, even some sense of urgency. One paragraph provides an interesting new twist to the exhaustion debate: Is the Internet already becoming less reliable as a consequence? Paragraph 3.1 of the report says: Evidence has shown that most of the remaining IPv4 address space is already in use by organizations
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IPv6: Beware of dirty, muddy IPv4 addresses as the pool dries up
India has long operated a `silo system’ where the financial industry was sought to be broken up into vertical silos associated with regulatory agencies. The word `regulation’ is relatively little understood in India. Instead, there has been a central planning notion of comprehensive `control’ of a given financial firm vesting in a given regulator, so that a somewhat feudal arrangement prevails in each silo
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Frontiers of across-silo thinking in Indian finance
Shekhar Gupta’s column in the Indian Express today is about the incipient threats faced by freedom of speech in India. In this ranking for 2009, by Reporters without Borders , India’s freedom of press comes in at rank 106 out of 175 countries (top 60th percentile). We’re in the company of Burundi, Côte d’Ivoire, Guatemala and Oman.
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Freedom of speech in India
When we look back at the sweep of history, the 20th century stands out. It stands out as a time of immense progress in our knowledge, a time of great carnage, and the time when the great debate about socialism and the market economy ended.
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This century and the last one: A report card for the first 10 years
Over the years, I have written quite a bit in the media, and all of it is up on my MEDIA page . I recently looked at the logs of my website and it shows 2534 reads in 5 days, or 21 reads an hour. The top 25 articles are as follows: 1 What should the financial stability and development council (FSDC) do?
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The shelf life of newspaper columns on the net
In recent months, the discussions that have sprung up around some of the posts on this blog have been quite interesting: Taxi companies in Bombay: an episode in India’s urban transportation What does it mean when a million people apply for a thousand jobs? The joys of central planning Implications of ETF on the Hang Seng index that’s traded in India How efficient is the traditional Indian family-run business
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To the anonymous participants of great discussions
The problem The best thing that you can ask for, in getting around a city, is a comprehensive underground metro system, where a tube station is at worst 200m away from wherever you might be. There is no city in India that has this
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Taxi companies in Bombay: an episode in India’s urban transportation
Several economists have commented on the remarkable and relatively new phenomenon that’s seen in India, where a government agency (or a state owned enterprise) advertises (say) 100 job openings and gets a million applications. This is generally interpreted as a problem, as a reflection of the very high extent of unemployment amongst the educated in India.
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What does it mean when a million people apply for a thousand jobs?
It has been fascinating, watching the FSDC evolve from a pre-budget recommendation, to a cryptic paragraph in the budget speech, to a few immediate responses focusing on the big picture, and then more detailed writing as the idea has sunk in. 22 March Nirvikar Singh in Mint
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Media treatment of the Financial Stability and Development Council (FSDC)
Recently I had a chance to meet with David Bettinger the CTO of iDirect to discuss his company’s achievements . His company founded in 1994 provides IP communications equipment for the satellite industry. By accelerating TCP/IP protocols the company allows more efficient voice and video communications over satellites.
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iDirect Optimizes IP communications over Satellite
At the Satellite 2010 show in Maryland I had a chance to sit down with Jon Douglas of Spacenet Inc. and learn about his company which is 30 years-old. An interesting twist on traditional satellite delivery – aside from providing VSAT service in North America the company plays in managed network services.
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Spacenet Satellite Services Aid Haiti, Boost Business Continuity
In one of the most unusual stories I have seen in a while, media and Internet titans Viacom and Google are sparring publicly . Earlier this week court documents revealed a YouTube cofounder consistently uploaded copyrighted material to the site to boost traffic
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Viacom Lawsuit Against YouTube and Google gets Juicy
As a technology that enables consumers to gain greater access to better Internet services, WiMAX has captured significant attention in today’s marketplace. In particular, WiMAX can make important inroads to the Indian SME and consumer markets. Driven by basic broadband needs and VoIP, WiMAX is increasingly being considered as the most viable last-mile solution
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Why WiMAX?
Here is a beautiful shot from my hotel room as I get ready to leave for day two of the Satellite 2010 show in Maryland. Follow me: Facebook Profile Google Reader Profile Twitter Profile Related Entries TrackBacks | Comments | Tag with del.icio.us | Communications and Technology Blog – Tehrani.com Home | Permalink: Day two of Satellite 2010 Copyright Communications and Technology Blog – Tehrani.com
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Day two of Satellite 2010
I have a column in the Financial Express today on this. You might like to look back at my previous blog post on budget day, where a paragraph in the budget speech unveiled the FSDC.
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What should the Financial Stability and Development Council (FSDC) do?
Having been one of the early evangelists of VoIP and launching the first magazine in the space – Internet Telephony and longest-running conference , etc – I think I need to take a moment and point out that one of the challenges of consumer VoIP is the need for external power. This past weekend, the northeast just endured a nor’easter where I saw massive trees buckle like dandelion stalks in the hurricane-force winds
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Nor’easters Remind us why the PSTN is Useful
Chart courtesy of DigitalBeat and Hitwise US It was bound to happen and many predicted this year would be the one where we see social media – especially Facebook take away the most popular site crown from Google. The social networking site did beat out Google by a miniscule percentage – 7.07% to 7.03% in the US according to Hitwise. It is worth pointing out that social gaming seems to be the reason for the rapid rise of Facebook traffic
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Facebook Passes Google in US Traffic
I have long collaborated with Achim Zeileis, Ila Patnaik, Anmol Sethy and Vimal Balasubramaniam on testing, dating and monitoring of structural change of the de facto exchange rate regime. A few weeks ago, Anmol Sethy had done a talk about the ZSP methodology in Singapore.
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Talk in Chicago on testing, dating and monitoring of structural change of the exchange rate regime
`Repec’ is very nice public domain effort in economics which is building up a database of papers in economics. They have a series of email alerts for New Economics Papers (NEPs) where an editor examines the flow of papers and picks a few in a field. I am the editor for the NEP on international finance , so please do subscribe to this as a mechanism to track the literature in this field
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Tracking the literature
New York (GaeaTimes.com) – Obama Administration has recently guaranteed billions of loans for new nuclear power plants in the U.S. But the decision of new power plants may not be heartily welcomed in every part of the country
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104 Nuclear Reactors: List of Nuclear Power Plants in US
A few years ago, when Percy Mistry’s committee was working on the MIFC report, I used to joke that of the two great industries in Bombay, movies will make it first to international customers. A few days ago in the New York Times , Anupama Chopra has a story showing that some action on that front is now visible. Winning on a global scale in finance and in movies has some common features : it involves raw materials like human capital, top end computer technology, freedom of speech, openness to other cultures, a large home market, the natural opportunities of connecting up with the disapora, and Schumpeterian creative destruction
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The two great industries of Bombay
Dear developers, you have no power, no recourse beyond $50 and are at our complete mercy. NASA has an iPhone app and the mere fact that this government agency chose to develop one means that the EFF was able to use the Freedom of Information Act to obtain the Apple iPhone developer agreement – the closely guarded document which gives Apple the power to pull applications at will and be the final arbiter of what apps make it into the iTunes App Store.
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Apple iPhone Developer Agreement Made Public
Although WiMAX has universal appeal, as it creates ubiquitous broadband connectivity, the key drivers for the deploying WiMAX in emerging and developed markets differ. Over the last few years, WiMAX has gained a strong foothold in developing markets, where there is a latent demand for broadband, but poor infrastructure
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WiMAX: Emerging Markets vs. Developed Markets
Years back TMC launched a magazine titled IMS which stands for IP Multimedia Subsystem – and represented an architecture model allowing carriers to open up their networks to developers who would in turn take a revenue split in exchange for allowingtheir apps to run on the carrier’s network. Customers of the service provider would be provided walled garden access to services – they would be pushed to use authorized apps.
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Google Apps Marketplace Brings Walled Garden to the Desktop
Seeing Adobe Air and Flash run on a device which is similar to the iPad makes users wonder just why Apple has chosen not to support these ubiquitous technologies Steve Jobs is one of the most powerful people in business and especially technology. So when he comes out publicly and says Adobe’s Flash technology has problems and he won’t support it in his products, people take notice
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Adobe Comes Out Swinging Against Apple
Florida (GaeaTimes.com) – Jacob Nodarse, a 23 year old man was arrested at his parents home in southern Florida in Wednesday afternoon. He was arrested on the charges of obstruction of justice, but police told The Chicago Tribune that he is a prime suspect in the murders of Darien family in Florida. Jeffrey Kramer, 50, …
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Jacob Nodarse Arrested: Prime suspect of Darien Family Killing
As Neptune’s trident has struck Port Alberni this December 8th 2009 he must have remembered the day more than a century ago when the All Red Line was completed close by at the Bamfield Cable Station in October 1902. The first Global network circling the Globe, projecting the might of the British Empire and Neptune’s first globe spanning copper belt.
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Port Alberni Cable Landing Station Sees Traffic Again
The 8.8 magnitude earthquake in Chile last week was so powerful that it may have shifted the Earth’s axis by about three inches shortening our days by 1.26 millionth of a second. The shortening of our days by that much amount won’t have any directly perceivable changes in the environment such as season or temperature …
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Chile Earthquake: Earth axis shifts shortening our days