id id

The Finance (No.2) Bill 2009 has proposed certain changes in the service tax law. Some of which are effective from 7 July 2009, some from the date the budget is passed, i.e., the Finance Bill becomes Finance Act, some from the date to be notified. The rate of service tax has been retained at 10% plus cess: effectively 10.3%.
Three new services have been brought under the service tax levy from date to be notified. These include legal consultancy services provided by a business entity to another business entity. Business entity in­cludes association of person, body of indi­vidual, company or firm but does not in­clude individuals.
Cosmetics and plastic surgery services like liposuction, forehead lift, and reshaping of nose are now covered. Surgeries to re­store body functions affected due to con­genital defects, developmental abnormalities, disease, injury, and trauma are excluded.
Services provided for transport of coastal goods and transport of goods through inland/national waterways are subjected to service tax. Only domestic freight (and not international freight) is liable to service tax.
Changes in existing services from the date to be notified are applicable to sub-brokers. They will now be outside the purview of ser-

vice tax. They will neither be taxed for provid­ing stock-broker services nor as commission agents under' Business auxiliary servicess'.
Production and processing of goods for or on behalf of a client will not fall within the purview of service tax under, 'Business auxiliary services' only if the activity re­sults in manufacture of excisable goods.
Goods transported by railways (govern­ment or non-government), whether in con­tainer or otherwise, are now covered under transport of goods by rail services.
For existing services, export refund and cenvat credit it has been clarified from 7 July 2009 interbank purchase and sale of foreign currency between scheduled banks is now no longer taxable under banking and other financial service. The Federation of

Indian Export Promotion Organization and other specified export promotion councils are exempt from levy of service tax under, 'Club and association services'.
Private bus operators with 'contract carriage permit' are now not covered under 'Tour operator services' provided such ser­vice is for point to point transport of pas­sengers and for tourism, conducted tours or charter or hire.
Under works contract service, composi­tion scheme will be available to only such works contracts where the gross value of works contract includes the value of all goods used in or in relation to execution of work contract whether received free of cost or for consideration under any other contract. Amendment is not applicable to current works contract where execution commenced or payment made on or before 7 July 2009.
Scheme for refund of service tax paid by exporter on taxable service received and used in connection with export of goods has been further simplified. A service provider providing both taxable and exempt services and using common input/input services but opting not to maintain separate accounts has to pay 6% of the value of exempted service instead of 8% earlier.

Promoters losing control of their companies due to pledging of shares can lead to takeover battles. This will offer good exit opportunities for invest

Great Offshore, provider of offshore drilling and logistics services to oil and gas compa­nies, is up fro grabs. Reason? The promoter of Great Offshore had pledged his shares to raise funds and failed to meet the margin calls (see box: The great gamble). The Great Off­shore episode, which is still unfolding, seems like a scene from a Hindi soap opera, where owners fmd themselves in spot due to finan­cial disaster and miscalculations. Of course, it comes along with a lot of emotional drama.
What is happening with Great Off­shore and its promoters cannot be ruled out taking place in other companies as well. Great Offshore is just the first inci­dent of promoters losing control after pledging their shares. Many more promot­ers have pledged a high proportion oftheir equity stakes in their companies. This could lead to change in management.
Typically, pledged shares act as secu­rity against loan. Now if the price of the pledged shares takes a drastic plunge, mar­gin calls are triggered as the value of the se­curity declines and it is not possible for the lender to recover the money ifthe borrower
In 2007, Vijay Sheth raised money by pledging his entire 15.5% equity stake in Great Offshore following a family settlement that required Vijay Sheth to buyout the equity stakes of his cousins in Great Offshore. Great Offshore was spun off from Great Eastern Shipping as part of the division of assets among the Sheth family members.
The arrangement was going on fine till the stock market took a turn for the worse. As the market started its southward journey from the all-time high of21,000 in January 2008, difficulties began to mount for Vijay Sheth as margin calls were triggered.
Vijay Sheth had pledged his stake with one of the financial institutions
defaults. In such a scenario, the borrower needs to pay money to the lender to recoup the losses or pledge more shares.
The situation was extremely bad a few months ago. However, as the stock market has rebounded smartly since March 2009, it has saved many promoters and companies from going the Great Offshore way. More­over, promoters of a few companies that had pledged a higher proportion of their
based in Mumbai. Subsequently, Bharati Shipyard acquired the pledged shares for Rs 315. Interestingly, Bharati Shipyard had along maintained that it is a strategic investor and was not interested in taking over Great Offshore.
Ultimately, Bharati Shipyard came out with an open offer at Rs 344 a share to increase its equity stake in the company. The story again took a turn in June 2009, when ABG Shipyard jumped into the ring with an unsolicited offer at Rs 373 per share. The bidding war between Bharati Shipyard and ABG Shipyard is still going on.
It would take time for the dust to settle down. Irrespective of who gains control of Great Offshore, minority shareholders will be the real wrrmers.
equity stakes in their companies have re­voked their pledges in the last three months. For instance, Delhi real-estate company Unitech. End March 2009, promoters of Unitech had pledged 77 .17% of their eq­uity stake. This has come down to 72.31 %. This means between 1 April 2009 and 30 June 2009, promoters revoked over five­crore pledged shares. Other promoters to have revoked pledged shares riding on im­proved market sentiments and rising stock prices include Emami, Jaiprakash Associ­ates, Nocil, Bajaj Holdings, Godawari Power & Ispat, HEG, Pantaloon Retail, Suzlon Energy and Tata Motors.
To find out the vulnerable companies, Capital Market went through the shareholding pattern of 497 companies for which latest data (end June 2009) was avail­able. Of these 497 companies, promoters of seven companies have pledged 100% of their equity holdings. These companies include Tata Coffee, Tuticorin Alkali, GSL (India), Kerala Ayurveda, Pentasoft Technologies, ETC Networks and Refnol Resins. Promot­ers of 18 companies have pledged more than 90% to 99% of their equity stakes. (see table:
The most vulnerable).
How real is the takeover threat or prob­ability of promoters losing control over these companies? This depends on various factors like stock market conditions. A sharp down­turn in equity valuations as seen in October 2008 after Lehman Brothers went bust could make life difficult for vulnerable promoters. The financial position of the promoters also matters. Tata group company Tata Coffee features in the list of the most vulnerable com­panies. Given the financial prowess of the Tata conglomerate, it is but understood that it cannot be a takeover target. However, pro­moters with weak financial standings could be on the losing side.
Also, the raider will examine the qual­ity of assets up for grabs. As liquidity is still not flowing freely, arranging funds for takeover would be difficult for the raiders. Thus, unless a quality asset is on the block, the borrowers would remain untouched and safe. For instance, companies with corpo-

Mustard-seed prices are expected to outperform all oilseeds on recedina arrivals and revival of mustard-meal exports

also bolstered the yield,rate of the mus­tard-seed crop from 900 to II 00 kg per hectare. This enhanced production by 41 % to reach 30lakh tonnes in FY 2009. Uttar Pradesh: Sowing acreage of mustard seed is normally between seven lakh hect­ares and nine lakh hectares, and production between seven lakh hectares and 10 lakh tonnes in Uttar Pradesh. The major sowing areas of mustard seed in Uttar Pradesh are Agra, Kanpur and Lucknow, accounting for almost 65%-70% of the state's production. In the current season, total output of the state is expected to be up almost 8.9% to around nine lakh tonnes over FY 2008.
Strong gains are mainly on steady rise in sowing acreage as most wheat farmers have shifted to mustard crop along with comfort­able rainfall during the monsoon period. Pro­ductivity of the mustard crop is likely to be around 1114 kg per hectare from 890 kg per hectare in the previous year.
Others: Mix production trends were re­ported in Madhya Pradesh, Haryana and Punjab despite higher sowing of mustard seed in the current year. Production of Haryana and Punjab was reportedly marginally down to 4.1 lakh tonnes, while Madhya Pradesh reported some gain to reach 6.5 lakh tonnes from FY 2008.

Outlook
As per market sources, arrivals of mustard seed have surpassed almost 75% of the cur­rent year's total availability. Arrivals in Janu­ary were down to almost 75,000 bags against one lakh bags reported in June 2009. Arriv­als are estimated to be lower in the coming days as farmers are not willing to liquidate their positions at the lower level.
Some traders are expecting that the weak monsoon leading to low water-reservoir dams in major growing states such as Rajasthan, Uttar Pradesh and Punjab might discourage sowing of mustard seed. Being an irrigated crop, the mustard-seed crop needs six times the irrigation than that con­sumed by other oilseeds during crop forma­tion. This requires high water-storage levels for this oilseed. Sturdy prices might prompt farmers to diversify to chana. Therefore, sowing acreage of mustard seed is expected to be lower in the current rabi season (October 2009-March 20 I 0).
On the other hand, strong buying was noticed in the physical market due to resur­gence of export demand for mustard meal in the June 2009. As per latest date released by the Solvent Extractors' Association of India, exports of mustard meal were up 205% to 58,805 tonnes in June 2009 as against 19,245 tonnes reported last year in the same month. Mustard-seed prices are also getting a positive bias from palm-oil prices. Prices of palm oil are expected to remain strong on strong export demand coupled with sturdy prices of crude oil.
Spot prices of mustard seed are likely to remain supportive at the lower It;vel of around Rs 2500-Rs 2550 per quintal on steady de­mand for mustard meal in both the domestic and international markets coupled with di­minutive arrivals at major physical markets. The National Commodity and Derivatives Exchange (Ncdex) September 2009 bench­mark contract is expected to gamer some buy­ing at Rs 530-Rs 532 per 20 kg ( Rs 2600-Rs 2650 per quintal) while selling likely to per­sist at Rs 560-565 per 20 kg ( Rs 2850-Rs 2900 per quintal) in the coming days.

Mustard-seed prices are expected to outperform all oilseeds on recedina arrivals and revival of mustard-meal exports

Rapeseed mustard seed is the most impor­tant oilseed in the domestic arena. The oil content of the seeds ranges from 38% to 46%, depending on the crop yield. Rape­seed and mustard crops are tropical as well as temperate and require relatively cool tem­peratures for satisfactory growth. In India, they are grown in the rabi season from Sep­tember-October to February-March. Rape­seed and mustard-seed crops grow well in areas with 25- to 40-cm of rainfall. There­fore, Rajasthan, Uttar Pradesh and Madhya Pradesh are the major producers of mustard seed. Together they account for almost 80%­85% of the total production.
The sowing acreage of mustard seed nor­mally ranges between 52 lakh hectares and 60 lakh hectares, depending on the price of the mustard-seed crop as against other al­ternates and favorable climatic conditions. But the strong returns given by the com­modity in the fiscal ended March 2009 (FY 2009) following a pathetic crop in FY 2008 along with favorable rainfall in major grow­ing areas such as Uttar Pradesh and Rajasthan resulted in sturdy gains in mus­tard-sowing acreage. Total acreage has been augmented by almost 13% from last year, standing at 65.80 lakh hectares mid January 2009. Total production is estimated up 12% to 62 lakh tonnes in FY 2009.

Following is the state-wise summary of mustard crop:
Rajasthan: The sowing acreage is hovering between 25 lakh hectares and 30 lakh hect­ares in Rajasthan over the last few years. Output ranges between 27 lakh tonnes and 33 lakh tonnes. The sowing regions of Rajasthan are Jaipur, Alwar, Sriganganagar and Jodhpur. Favourable monsoon condi­tions during the sowing period in FY 2009 coupled with remunerative prices of mus­tard seed throughout the year increased the total sowing acreage of the state 14% to 28.09 lakh hectares from FY 2008. The Ncdex September 2009 benchmark contract is expected to see buying at Rs 530-Rs 532 per 20 kg, while selling is likely around Rs 560-Rs 565 per 20 kg
Timely irrigation facilities in major dis­tricts such as Alwar, Kota and Sriganganagar along with favourable tem­perature during the crop formation stage

From 1 April 2008, notice can be served on the assessee within six months from the end of the financial year in which the return is furnished

to get the registration done in his favor even after the passage ofloo days and the advance money ofRs 10 Iakh was forfeited as per the terms of sale agreement. Is the forfeited advance money taxable? H yes, on what amoont? H the forfeited advance money is not taxable, then how should it be entered in the books of accoonts?
- Mukesh Jain, e-mail Forfeited advance money is recorded in the books of accounts as per the explanation given below: Where any capital asset was the subject of negotiations for its transfer on any previous occasion, any advance or other money received and retained by the assessee for such negotiations is to be de­ducted from the cost for which the asset was acquired or from the writtendown value or the fair market value, as the case may be, in computing the cost of acquisition. Only when the advance or other money has been received or retained or forfeited by the as­sessee can it be deducted from the cost of the asset.
In the given case, the cost of purchase of capital asset, i.e., house property, is Rs 5
lakh and forfeited advance money received was Rs 10 lakh. Therefore, you cannot de­duct the indexed cost of acquisition. The entire amount of sale consideration will be taxable as long-term capital gain.
Can I claim deductions on medical ex­penses in Form -16 even though my em­ployer did not provide medical allowance or reimbursement?
- Mukesh Kumar, e-mail Deduction on medical treatment (Section 80DDB of the Income Tax (IT) Act, 1961) is available if the following conditions are satisfied:
• The taxpayer is resident in India (ordi­nary resident and non-ordinary resident). • The tax payer is an individual or Hindu undivided family (HUF).
• The taxpayer has actually paid any amount for the medical treatment of a speci­fied disease or ailment as prescribed by the Central Board of Direct Tax under Rule I1DD of the IT Rules 1962.
• The expenditure is actually incurred for medical treatment of the assessee himself or wholly/mainly dependent husband/wife, children, parents, brothers and sisters of the tax payer.
For HUF, the medical expenses should have been incurred for the medical treatment of any member of the family who is wholly/ mainly dependent upon the family.
• The assessee has to submit a certificate in the prescribed form (Form No. 10 -1) from a neurologist, an oncologist, a urologist, a hematologist, an immunologist or such other specialist, as may be prescribed, working in a government hospital.
Deduction of Rs 40000 or expenditure actually incurred, whichever is lower, is

Tax Matters

The time limit of notice under Section 143(2) has been changed in the Finance Bill, 2008-09. It says that "notice onder ~on 143(2) shall be served on the as­sessee within six months from the end of the financial year in which the return is furnished". Is this applicable for re­torn of accoonting year 2006-07?
-Anuj Rajvanshi, e-mail Notice under Section 143(2) of the Income Tax Act, 1961, can be served on the assessee within six months from the end ofthe finan­cial year in which the return is furnished. This time limit is applicable from I April 2008. Up to 31 March 2008, such notice can be served before the expiry of 12 months from the end of the month in which the re­turn was furnished.
Section 139(4) says if return is not fur­nished within the time allowed under Sec­tion 139 (1) or within the time allowed un­der notice issued under Section 142(2), the person may, before the assessment is made, furnish the return of any previous year at any time before the end of one year from the end of relevant assessment year.
If return of 2006-07 is not furnished be­fore the due date, then it can be furnished till 31 March of2009 under Section 139(4). If return of 2006-07 is furnished before or on the due date of filing of return, then the notice under Section 143(2) can be served before the expire of 12 months from the end ofthe month in which return was furnished.
If return of 2006-07 is furnished after 31 March 2008, then notice under Section 143(2) can be served on the assessee within six months from the end of the fmancial year in which return is furnished.

Section 44 AB states every person whose total sales turnover or gross receipt exceeds Rs 40 lakh is liable for tax audit

available ifthe above the conditions are sat­isfied. If the expenditure incurred by the as­sessee or his dependent or any member of an HUF of the assessee is a senior citizen, then Rs 60000 or actual expenditure, which­ever is lower, is available. Therefore, you can claim deduction under Section 80DDB if the above conditions are satisfied.
The certificate obtained in the prescribed form, i.e. Form No. 10-1, is not to be attached with the return of income. It may be fur­nished when the assessing officer requires it.
I am a tenant in a posh locality since the last 20 years. Now the ownership of my tenanted property has changed. The new landlord has offered me Rs 40 lakh to vacate the fully-furnished 1,50o-sq-ft Oat. Will the Rs 40 lakh I receive be my tax­able income? H yes, will it be taxable under the normal tax rate or will it be taxable under, 'Long-term capital gain'? How can I save on tax? Can I invest in house property to save tax?
- Sadhu Kumar, e-mail Under Section 2(47) of the Income- Tax Act, 1961, the word "transfer" includes relin­quishment of the asset or the extinguish­ment of any rights. A relinquishment takes place when the owner withdraws himself from the property and abandons his rights on it. It presumes that the property contin­ues to exist after the relinquishment.
In your case, the new landlord has of­fered Rs 40 lakh to vacate the fully-furnished flat of 1,500 sq ft. Therefore, the transfer of tenancy rights will be taxable under Section 2(47) as a long-term capital gain. To save on tax you have two options:
Section 54EC: Capital gain not to be charged on investment in certain bonds if the fol­lowing conditions are satisfied:
• The assessee may be an individual, firm, company or any other person.
• The asset transferred is long-term capi­tal asset.
• The assessee has invested whole or any part of the capital gain in long-term speci­fied assets within six months from the date of transfer of asset. Long-term specified as­set means bonds issued by the National Highway Authority ofIndia and Rural Elec­trification Corporation if such bonds are re­deemable after three years and issued on or after I April 2006.
Amount of exemption available under Section 54EC is the least of the following: • The amount of capital gain generated from transfer of capital asset, or
• The amount invested in specified asset as stated.
Investment can be made up to Rs 50 lakh during the financial year.
The cost of specified asset which is con­sidered for the purpose of Section 54EC is not eligible for tax rebate under Section 88 or deduction under Section. 80C.
Section 54F: Capital gain on long-term capi­tal asset other than a house property.
• Exemption available to individual or Hindu undivided family (HUF) only
• The transferred capital asset has to be long­term capital asset other than house property. • To claim exemption under Section 54F, the tax payer will have to purchase a residential house property (old or new) or construct a residential house property. It may be in India or outside India. The new house has to be purchased within one year before, or within two years after, the date of transfer of the original asset. The new house has to be con­structed, i.e., completed, within three years from the date of transfer of original asset.
The exemption under Section 54F will be available if the tax payer has not more than one residential house property. Amount of exemption equals the cost of new house multiplied by capital gains divided by net sale consideration. The amount of exemp­tion cannot exceed the amount of capital gain.
I under take intra-day trading. My sales and purchase volume exceeds Rs 50 lakh. But my profit was Rs 60000 in the fiscal ened March 2009. How do I calculate my turnover for tax and audit? Is there any need for tax audit?
- Pankaj Gael, e-mail Section 44AB of the Income Tax Act, 1961, states that every person whose total sales turnover or gross receipt exceeds Rs 40 lakh is liable for tax audit. Intra-day trading is considered as speculative business and is covered under Section. 43(5) of the Income Tax Act, 1961.
The intention of intra-day trading, is to deal in differences, which is permitted on the stock exchange. Therefore, it is only the amount of difference or profit/loss that is
material in deciding the issue of applicabil­ity under Section. 44AB. If the aggregate of the net position or profit/loss of every trans­action exceeds the limit of Rs 40 lakh as prescribed by Section 44AB, tax audit will be applicable.
Your profit was Rs 60000 in the account­ing year 2008-09. But this information is insufficient to decide whether you are liable for tax audit. This can be explained by way of the following two examples:
• An aggregate profit ofRs 60000 can be derived as profit of Rs 80000 and loss of Rs 20000. In such a case tax audit is not applicable.
• Similarly, aggregate profit of Rs 60000 can be derived as profit of Rs 22 lakh and loss of Rs 21.40 lakh. Here, tax audit is ap­plicable as the turnover exceeds Rs 40 lakh (Rs 22 lakh + Rs 21.40 lakh).
My wife made short-term capital loss (STCL) of approximately Rs one lakh by selling equities (securities transaction tax paid) in the accounting year 2008-09, whereas she made long-term capital gain (LTCG) of Rs 7ססoo from fixed maturity plans (FMP) of mutual funds in the ac­counting year 2008-09. Can Rs 7ססoo be set off and only Rs 3ססoo be carried for­ward as STCL? Can STCL be set off against LTCG on FMP?
- Drishti Khatri, e-mail For FMPs, no securities transaction tax (STT) is paid. Thus, any gain on redemption of these units will be taxed as LTCG and will not be exempt under Section 10(38) of the Income Tax Act, 1961. STCL can be set off against LTCG. Hence, STCL of Rs 100000 can be set off against LTCG of Rs 70000 and the remaining STCL ofRs 30000 can be car­ried forward for eight assessment years.
The replies are only in the nature of guidelines. The tax counsellors and the publication are not responsible for any decision taken by readers on the basis of the same. Readers may address their queries on direct taxation to:
T K Doctor, Clo Capital Market,
101, Swastik Chambers, Sion-Trombay Road, Chembur, Mumbai-400 071
E-mail: tax-matters@capitalmarket.com
ED

NHPC CM Rating 47/1 00

NHPC is the largest hydroelectric power gen­erating company in the country. It has 13 op­erating hydro electric power (HEP) plants with an installed capacity of5,175 MW including two power stations of total 1,520-MW ca­pacity set up through its joint venture subsid­iary Narmada Hydroelectric Development Corporation (NHDC). Current total generat­ing capacity is 5,134.2 MW, taking into ac­count the downgrade of the capacity ratings of Loktak and Tanakpur power stations by the Central Electricity Authority. All the ex­isting power projects of the company (ex­cluding the N subsidiary) are located in the northern and north-eastern states such as Jammu & Kashmir, Himachal Pradesh, Uttarakhand, Manipur and Sikkim. The two HEP stations are in Madhya Pradesh.
NHPC is constructing II additional hy­droelectric projects, which are expected to increase the installed capacity by 4,622 MW. These plants, barring Teesta Low Dam IV, are mostly in the north and northeastern states and scheduled to be commissioned between December 2009 and March 2013. The Teesta Low Dam IV project is coming up in the DaIjeeling district of West Bengal. NHPC is awaiting government sanction to build another five projects with an antici­pated capacity of 4,565 MW on its own and another 2,166-MW capacity projects through certain N projects. In addition, the company is surveying and investigating pro­posals for nine additional projects totaling 7,255 MW of anticipated capacity.
Apart from development and operation of HEP projects, NHPC also develops, de­signs, and delivers HEP station to clients. The company has executed two HEP projects, i.e. Kurichhu HEP in Bhutan and Devighat HEP in Nepal, on contract. Further, it also pro­vides technical, management advisory and consultancy services to domestic and interna­tional clients. So far it has completed 76 con­sulting assignments and had 17 consulting as­signments on hand end May 2009.
11,82,49,343 equity shares of Rs 10 each (9.1% of post- issue equity). While NHPC will not get any amount from offer for sale (which will go to the government), the pro­ceeds from fresh issue will be used to part fmance the construction and development of Subansiri Lower in Arunachal Pradesh, Uri II in Jammu & Kashmir (J&K), Chamera III in Himachal Pradesh, Parbati III in Himachal Pradesh, Nimoo Bazgo and Chutak in J&K, and Teesta Low Dam IV power projects as well as for general corporate purposes.
Strengths
· Operational efficiency track record ofthe existing power plants is strong.
· Proven execution capability in designing, executing, completing HEPs.
· The Nirnoo Bazgo (45 MW) and Chutak (44 MW) HEPs in J&K were registered by the executive board of Clean Development Mechanism (CDM). These two projects are scheduled to commission in August 20 I 0 and February 2011, respectively, and will generate carbon credit. Also pursuing CDM registration for other projects.
Weaknesses
· HEPs are typically associated with longer execution period as well as high execution risks: geological, hydrological as well as environmental. Rehabilitation and re­settlement issues are obstacles and often result in delays in the completion of projects. Moreover, there is little return on equity investments made during project execution.
electricity board as per the MoUs signed with the respective state governments fol­lowing the power purchase agreements.
· Among others, the tariff includes annual fixed charge (AFC) consisting of primary energy charge and capacity charges. How­ever, under the new tariff policy effective from I April 2009, the capacity index has been replaced with the normative annual plant availability factor (NAPAF). Ca­pacity charge for a power generating sta­tion will constitute 50% of the AFC and will be calculated using a formula that takes into account the NAPAF and the actual plant availability factor achieved. Earlier, if the capacity was available, the capacity charges could be recovered. Now, capac­ity has to actually operate at or above NAPAF. So if there were insufficient wa­ter, which prevents the plant from operat­ing at or above NAPAF, the capacity charge would be adversely affected, even though the unit might have available capacity. Also, earlier capacity charge was equal to AFC less the primary energy charge. Now, 50% of AFC will depend on capacity charge. So this has introduced volatility in AFC, ca­pacity charge and revenue, especially when water availability is poor.
· Supplies 12% of the energy generated free to the respective state or its utilities or the
The current public offer has two compo­nents: Disinvestment from the Union government's existing holding 55,91,24,672 equity shares of Rs 10 each (4.5% of post­issue equity) and fresh issue of

on growth track

Pidilite Industries is well-known for its larg­est selling adhesives brand in Asia, Fevicol. The company classifies its sales into con­sumer and bazaar products [73% of the to­tal sales in the fiscal ended March 2009 (FY 2009)], specialty industrial chemicals [(22% of the total sales in FY 2009]. and others [vinyl acetate monomer (VAM), around 5% of the total sales in FY 2009].
The consumer and bazaar products seg­ment constitutes adhesives and sealants, con­struction and paint chemicals and art mate­rial and others. Adhesives and sealants com­prised around 50% of the total sales in FY 2009 and largely included sales of Fevicol and other sealants like M-Seal. An extensive range of consumer, craftsmen, engineering and industrial adhesives are offered under the Fevicol brand. M-Seal is used for joining and repairing, sealing, and such other applications for the consumer and craftsmen markets.
Pidilite Industries has been continuously expanding the range of adhesives and seal­ants used for building construction and inte­rior decoration. From adhesives for furni­ture, the range includes adhesives for fixing tiles, marble, and granite on various surfaces, adhesives for fixing wallpapers, and adhe­sive for laying wooden floors. Almost all these new products were developed at the R&D labs of the company. More such new products will be introduced to cater to the expanding building construction and interior decoration market.
The construction and paint chemical sub-segments made up around 17% of the total sales in FY 2009. Dr Fixit is the market leader in the retail construction chemicals market. The waterproofmg seg­ment includes Dr Fixit water bar for seal­ing constructing joints in reinforced ce­ment concrete structure. Dr Fixit Roofkote and Roofseal are products for terraces, and Dr Fixit Safeguard for internal water­proofing of walls of potable water tanks. The brand has a strong presence in seal­ing, flooring, concrete treatment & plas­tering, and such other applications.
crude derivatives, were higher, Pidilite In­dustries was able to increase the prices of its finished products in FY 2008 and H I of FY 2009. But the impact of such price in­crease always takes time given the stocks that dealers and distribution chains carry. Further, raw material prices were continu­ously rising, with crude touching a high of US$147. Thus, the operating profit margin (OPM) was lower by 310 basis points (bps) to 13.7% even though there was in­crease in finished goods prices in FY 2009. However, with the company having cleared all the high-cost inventory of raw materi­als, the low-cost inventory of raw materi­als together with price increases in the past boosted OPM 510 bps to 23.3% in QI of FY 2010. Thus, strong brands enable the company to generate better sales and mar­gin, baring short-term aberration.
Pidilite Industries is also growing its international presence through acquisitions and setting up manufacturing and market­ing facilities abroad. The co
in Gujarat, Maharashtra, Himachal Pradesh and Daman. The subsidiaries faced adverse market conditions due to economic slow­down and steep increase in input cost in HI ofFY 2009 and was negatively impacted by forex fluctuations. Steps have been ini­tiated to rationalise the product mix and other cost efficiencies.
Standalone net sales grew 4% to Rs 519.70 crore in the quarter ended June 2009 over the quarter ended June 2008. How­ever, VAM production was down by 94% to Rs 2.51 crore as against Rs 44.39 crore as it was not cost-effective to manufacture VAM in the quarter. This restricted the sales growth. Profit after tax (PAT) rose 54% to Rs 84.81 crore. Consolidated net sales were up 5% to Rs 586.80 crore and PAT 66% to Rs 83.43 crore. Losses at subsidiaries have reduced substantially. Pidilite Industries can report standalone EPS ofRs 8.3 In FY 20 I O. The current price of Rs 145 dis­counts this 17.5 times. - mpany has 13 overseas subsidiaries (four direct and nine step-down) including those with manufac­turing and marketing operations in the US, Brazil, Thailand, Singapore and Dubai. Manufacturing facilities in India are located
When prices of raw materials, largely

Movers and shakers

Net profit of India's largest truck maker by sales rose 57.5% to Rs 5 I 3.76 crore, while sales dipped 7.8% to Rs 6350.20 crore in QI June 2009 over QI June 2008. The unexpected rise in standalone profit came as lower commodity prices and a smaller foreign-exchange loss helped offset declining vehicle sales. Tata Motors had an unrealized foreign-exchange loss ofRs 5.54 crore in Q I June 2009 compared with Rs 162 crore in QI June 2008. Spending on steel and other raw materials, the single-biggest expense, fell 24% to Rs 3802 crore in QI June 2009 over QI June 2008. Meanwhile, the company repaid US$ 150 million of the US$ I-billion Jaguar and Land Rover (JLR) bridge loan. The company had raised the money last month by selling 1.5% stake in Tata Steel. It roped in two international consultancy fmns KPMG and Roland Berger to advise on cutting costs and reducing complexities at its loss-making JLR units.
The Mumbai-based real-estate developer is planning to issue shares of up to US$ 450 million, or its rupee equivalent. The funds to be raised in the next few months will be used early next year for financing projects. The developer plans to launch 2.3 million square feet (mst) of development in Mumbai suburbs after the monsoon. It will also start a slum rehabilitation project in Goregaon and another two-three projects at Bhandup, both in Mumbia. Meanwhile, net profit fell 66.2% to Rs 107.47 crore and sales 48.2% to Rs 295.35 crore in Ql June 2009 over Ql June 2008.
Net profit of India's largest two-wheeler maker by sales rose 25.3% to Rs 583.54 crore and sales 33.9% to Rs 6364.71 crore in Ql June 2009 over QI June 2008. Increased sales of high-end models, new product launches and a drop in raw-material prices aided the strong growth in the first quarter net profit. Maruti Suzuki India expects to show similar performance in the second quarter this fiscal on huge demand for its cars in Europe. The scrappage policy in Europe that gives cash incentives to those buying fuel-efficient cars boosted exports 135% to 29,314 units in Ql June 2009, with the A-Star model contributing 90% to overseas sales. The company hopes to export 1,30,000 units of vehicles by March 2010. Total vehicle sales rose 17.72% to 2,26,729 units in QI June 2009 over Ql June 2008. Declining interest rates bolstered car sales in the domestic markets,too. Maruti Suzuki India's operating profit margin improved in the June 2009 quarter due to a combination offactors like commodity prices, better margin yield from the more expensive diesel models, localisation for procuring automobile components, a favourable foreign exchange rate, and reduced expenses on sales promotion, advertising, freight and shipping. It has earmarked Rs 21 OO-crore capital expenditure this year. Cash reserves are Rs 4700 crore.
Net profit of India's largest real-estate developer by market capitalisation plunged 85.7% to Rs 100.40 crore and sales 67.3% to Rs 417.97 crore in QI .Tune 2009 over Ql June 2008. Consolidated net profit declined 78.75% to Rs 396 crore and consolidated sales 56.7% to Rs 1649.86 crore in Ql June 2009 over Q I June 2008. There was, however, a sharp improvement in its sequential result. Standalone net profit rose 236.23% to Rs 100.40 crore and sales 652.69% to Rs 417.97 crore in Ql June 2009 over Q4 March 2009. The economy has been showing signs of recovery, and activity in the real estate sector has picked up suitably, DLF's vice chairman Rajiv Singh said in a statement. Construction activity has gained momentum and response to new launches has been encouraging. Going forward, the company expects the scenario to improve further.

Unitech is reported to have raised Rs 5400 crore selling shares and properties in Ql June 2009. The company sold Rs 2790 crore of shares in June 2009

Net profit of India's largest aluminium maker by sales fell lesser-than expected 31 % to Rs 480.56 crore and sales 16.2% to Rs 3870.90 crore in QI June 2009 over QI June 2008. The performance was much better than what brokers and analysts expected. However, earning cannot be compared with the corresponding quarter in the previous year due to early adoption of the AS-30 accounting standards. AS-30 was issued by the Council of the Institute of Chartered Accountants of India and came into effect from I April 2009. The standard - which typically recognises and measures financial assets, financial liabilities and contracts to buy or sell non-financial items - becomes mandatory only after I April 2011. Separately, Hindalco said its board approved a proposal to raise funds up to US$ 500 million (around Rs 2400 crore) through a qualified institution placement issue or a global depository receipt share issue.
Net profit of the Delhi-based real-estate developer fell 52.7% to Rs 142.50 crore and sales 54.6% to Rs 335.52 crore in QI June 2009 over Ql June 2008. Unitech is reported to have raised Rs 5400 crore selling shares and properties in Ql June 2009. The company sold Rs 2790 crore of shares in June 2009 in addition to Rs 1620 crore of shares in April 2009 and disposed of properties for Rs 1000 crore in June 2009. The cash will help the developer cut debt and spend on new projects.
Net profit of world's sixth largest steel maker by sales fell 46.9% to Rs 789.83 crore and sales 8.8% to Rs 5554.02 crore in Q I June 2009 over Q I June 2008. Steel output of jumped 30.51 % to 1.54 million tonnes and sales 22.41 % to 1.42 million tonnes in Q I June 2009 over Q I June 2008. Export turnover, however, slipped 61.41 % to Rs 334.95 crore in Q I June 2009 over Q I June 2008. Tata Steel will announce consolidated earning, including data from Corus, end August 2009.
Net profit of the Mumbai-based steel maker climbed 55% to Rs 340.02 crore and sales 6.1 % to Rs 3893.87 crore in Ql Jun.e 2009 over Ql June 2009. Consolidated net profit fell 6.5% to Rs 234.08 crore and sales 10.5% to Rs 3990.19 crore in QI June 2009 over QI June 2009. Rise in standalone net profit was helped by higher volumes and lower production costs. JSW's crude steel production grew 41 % and saleable steel 62% compared with the previous year. The steelmaker cut its production cost by 24% to US$ 315 per tonne and plans to lower it further to US$ 275 a tonne in the next fiscal.
Consolidated net profit of India's third largest software outsourcer by sales moved up I % to Rs 1015.50 crore even as consolidated sales fell 3% to Rs 6273.90 crore in QI June 2009 over Q4 March 2009. Wipro expects 0.91 % to 1.9% growth in consolidated revenue from IT Services business at between US$ 1035 million to US$ 1053 million in Q2 September 2009 over QI June 2009. The guidance is based on constant currency exchange rates.
Net profit of the Uttar Pradesh-based infrastructure developer rose 292.3% to Rs 491.18 crore and sales 78.3% to Rs 2067.08 crore in Ql June 2009 over Ql June 2008. The higher-than-forecast net profit was due to a one-time extraordinary profit, higher cement despatches and an increase in construction activity. The company made an extraordinary profit of Rs 374 crore through sale of treasury shares. JAL has merged with itself its four subsidiaries - Jaypee Hotel, Jaypee Cement, Gujarat Anjan Cement and Jaiprakash Enterprises -leading to the formation of treasury shares. Since a parent company cannot

Net profit of the New Delhi-based fast moving consumer goods company rose 33.8% to Rs 162.02 crore and sales 16.8% to Rs 1209.51 crore in QI June 2009

the quarter as against Rs 577 crore in the June 2008 quarter. Cement dispatches rose 30% to 24.1 lakh tone as against 18.46 lakh tonnes. Turnover of the engineering division including wind power increased 114% to Rs 1084 crore from Rs 506 crore. Despite the slowdown in the real-estate sector, JAL managed to ramp up its earning from realty by 26% to Rs 95 crore in the June 2009 quarter from Rs 75 crore in the same period a year ago. While the cement division acounted for 43% of the total revenue, the engineering division contributed 51 %, real estate 4%, and the hotel business 2%.
Net profit of the Gujarat-based generic agrochemicals maker rose 11.8% to Rs 52.11 crore and sales 33.5% to Rs 659.49 crore in Ql June 2009 over Ql June 2008. Meanwhile, some media reports suggested the company may acquire a Rs 1000-crore privately held agro-chemical firm Gharda Chemicals. UPL would reportedly gain pricing power in India and abroad if it acquires Gharda Chemicals. Besides UPL, the Tata-owned Rallis India, Godrej Industries and two multinationals are also reported to be interested in the privately held firm. Gharda Chemicals, which manufactures industrial and agricultural chemicals and is one of the fastest growing companies in this sector, reportedly expects an enterprise valuation of Rs 2500 crore-Rs 3000 crore.
Net profit of the New Delhi-based fast moving consumer goods company rose 33.8% to Rs 162.02 crore and sales 16.8% to Rs 1209.51 crore in QI June 2009 over Ql June 2008.
The board of the Haryana-based steelmaker approved allotting five bonus shares of face value Rs one each for every share held in the company. Net profit of Jindal Steel & Power fell 25.4% to Rs 300.06 crore and sales 16.9% to Rs 1575.70 crore in QI June 2009 over Ql June 2008.
Net profit of the Gujarat-based private port operator soared 76.4% to Rs 170.76 crore and sales 17.8% to Rs 298.04 crore in Ql June 2009 over Ql June 2008. While major Indian ports together showed a growth of 1.9%, cargo volumes of Mundra Port & Special Economic Zone rose 24% in QI June 2009. Total cargo handled at the port was 9.89 million tons (mt) in Q I June 2009 compared with the 7.98 mt in QI June 2008. While handling of bulk cargo went up 53%, with coal and fertiliser being the important contributors, crude volumes increased 17%. The company is reportedly aiming to emerge as the country's largest port by cargo handling by 2013-14.
Net profit of India's largest tractor maker by sales surged 151.6% to Rs 400.85 crore and sales 28.7% to Rs 4229.46 crore in QI June 2009 over QI June 2008. The figures of the current quarter are not comparable with those of the previous year's quarter as the Q I June 2009 result includes figures of the erstwhile subsidiaries Mahindra Holdings and Finance and Punjab Tractors which were merged with the company on II August 2008 and on 16 February 2009, respectively. M&M recorded a volume growth of28.5% in the utility vehicle (UV) segment selling 48,720 UVs in QI June 2009 as compared with 37,919 UVs in QI June 2008. Domestic tractor industry sales grew 14% to 97,295 tractors from 85,434 tractors.

What I really noticed about this little beauty was the speed

- it loads really quickly and smoothly. The processor is an Intel Core 2 Duo 2.00 Ghz and there is 3GB RAM. This combination makes the Inspiron easily the fastest computer in the house - making me What I really noticed about this little beauty was the speed green with envy!
So onto the litmus test - did my daughter like it? Well yes - she loved it! She was really pleased to have this compact little laptop in her bedroom instead of the old desktop computer she had had in the past. She loved how she didn't need a wireless adaptor, the speed, and everything about it! The laptop has a large hard drive of 250 GB but this is half full already - just over 3 months since she got it, so I can foresee me having to get an external hard drive for her in the future.
I had worried about her learning how to use Vista, but like all 12 year olds, she picked it up far quicker than I did, so my fears were unfounded.
There are three USB ports, which so far I have found sufficient. The laptop does have speakers but they are a bit on the tinny side and given my daughter listens to a lot of music on her computer, I got her some USB powered speakers which offer fantastic sound quality.
The laptop also has an integral SD card reader which is invaluable for my daughter as she can easily upload photos and videos from her camera and also copy music onto the SD card she uses in her new Nintendo DSi.
There is a CD/DVD RW drive which works a treat - my daughter thoroughly enjoys making music CDs up using it and has also burned the occasional DVD featuring some of her many video clips. She can also watch DVDs on the laptop but hasn't used the laptop this way - she prefers to watch her DVDs on TV. It also came with Windows Media Center already installed which was an extra bonus as my daughter was already familiar with this from her old desktop computer and was delighted to still be able to use it for her videos, photos and music.
The Inspiron I purchased does not have a built-in webcam but this feature is available on some models.
The one thing we haven't tested is the battery life - Dell claim it's 2 hours however. As my daughter hasn't removed it from her bedroom since she got it I cannot tell you for sure. As she just recently broke the screen on my Samsung laptop, resulting in a large repair bill, she is probably too scared to move this one!
I am really pleased with the Dell Inspiron 1545 and think it's a really good buy for children or students as it's easy to use, fast to load and has a large hard drive but is available at a good price for the spec offered.
I do advise getting some half decent speakers to use with it however and cleaning it regularly - the piano black doesn't half attract the dust and show up fingerprints.
Overall this is a good machine for the money and it can be found in various outlets right now, including Currys, Tesco and Dell online.
**Previously published on dooyoo by me under the same user name

The lung may be visualized bag

pressThe lung may be visualized bag situated a closed pleura! cavity it the inraalvenlar pressure is say 761 mmure The pressure volume curve Compliance in an ntact man can be measured clinically The principle, in short, of this measurement, is as foflows Irtrapleural pressure is recorded and simultaneousty the lung volume is also recorded The person, now, partially inspires (or expires) and stops in the midway making no further inspiration or expiration His intrapieurai pressure and the lung volume are again recorded at this point A series of such observanons are made and the graph plotted (figure A 22) ( HYPERUl*: http //Fig 4 2 2 Compliance ) of lung, the hysteresis loop (descnption in the text) The intrapleural pressure is recorded by placing a balloon m the esophagus as mentioned above The subject breathes from a spirometer The volume of ar that has entered from a spircrneter [thus which can be measured due to the expansion of the lung must be the volume of expansron of the lung In this way the values of v and P are obtained This curve therefore denotes the Interrelationship between the intrapleural pressure (PpL)and the volume of lung Such a pressure volume curve is also called a compliance curve

Inspiring Inspiron from Dell

I purchased the Dell Inspiron 1545 laptop back in January for my daughter's birthday. I had a limited budget but wanted to get her something with decent enough spec for playing computer games should she wish to do this, and a large hard drive as she is a big fan of making videos on her digital camera and downloading music - two things which can eat up hard drive space.
I did a fair bit of research before purchasing and decided I wanted to get the best spec I possibly could for my money and the Inspiron ticked all the boxes. I paid £399 in January 2009 in Currys for the laptop which was the absolute limit on my budget.
The Dell I purchased has a dark blue coloured lid, however the rest of it is a shiny piano black which looks lovely. I would have preferred metal for the mousepad area - it feels sturdier and doesn't seem to attract the dust the way the piano black plastic does - however that's a small quibble. The screen is widescreen and measures 15.6 inches and overall it's pretty lightweight and easy to carry about if you wish to do so.
So - what came in the box?
As well as the laptop there was an instruction manual, mains lead, Dell restoration CD-ROMs and a CD-ROM for Works 9.
The laptop had Windows Vista Premium pre-installed - and I worried that this might be a challenge for me as it was my introduction to Vista - however setting the machine up was a piece of cake.
I merely switched it on and dealt with a few prompts as Vista set up and then the computer was up and running. It has wifi installed and this picked up my wireless connection without any problems - and once I entered the security details for my network we were home and dry and online in no time!
When I was researching laptops I learned that you really need a minimum of 2GB RAM to run Vista properly, so this was another factor to consider when deciding the spec I needed for her laptop.
The laptop had a trial version of MacAfee installed but I decided to ignore this and installed AVG instead as my daughter is more familiar with it. I also decided to install the Works program that came with the laptop rather than Office as she really only needs a word processing program at the moment. I was concerned she may find it hard to use at first but we had no such worries.

space Now if a lung is stiff. a greater (more man usual) amourt of negativity

Therefore, ultimately the expansion or the lung is proportional to the increase of the negatrvity of the intrapleural space Now if a lung is stiff. a greater (more man usual) amourt of negativity wril be required to expand the lung This interrelationship between the pressure surrounding the lung and the volume of the lung is called compliance In plan words, compliance means the distensibility Imagine the following sequence of events which normally occurs Inspiration begins intrapleural pressure fads l e the negahvty nses) 4 lung expands Clearly, therefore, compliance indicates the strechatufty of the lung Compliance is defined as the volume 0f expansion of the lung per unit change of pressure, that is dV/d P, vvnfiere V and P indhcate volume of the lung and ntrapteural pressure (Ppl)respectively and A = the difference In noimal heathy young adults the value of compliance is about 0-2 l/cmH20 This means that per every cm fall in inirapleural pressure, the expansion of the lung is 0-2 1 It can be defined in another way also, viz the shrinkage of lung volume per every cm of H2Onse of irtrapleural pressure [Note. AV = expansion or shnnkage of volume] Compliance can be defined in another way But before that, the term Trans pulrnorTary pressure' (Ptp). should be explained in fig 4 2 11he lung and pleura! cavity are shown schematically

For USA members who seeks to get Mortgage or refinance

Banks are there to make money and I would like educate you as how the Mortage market works. first of all Banks compound your interest rate daily .. that's bad..for example if you take out a loan or a Mortage 6% for 30 years, $300,000 you end up paying over $700,000 . What is the solution ? you can double payments that will reduce your 30 years to about 24 years. You can ask your Banker to have a simple interest loand which I will doubt it if they will give it to you.Also for member who are 60 years and older and they have equity on their house over $65,000 you can have a reverse Mortgage(refinance to this concept).What is a reverse Mortgage, simply you stop paying your mortgage bill until all your equity will become zero, nada, nothing left. At that time either you die or if you sell your house the Banker will get most of the preoceeds.With the new era and economic collapse, they Banks right now will give a 30 years mortgage 4%. If you can get that you will never be able to beat this rate any where and time . Good luck.

efforts, particularly with glottis closed (Valsalva maneuver) when because

of the large +ve intrapleural pressure the cardiac inflow may be rernarkabty reduced so that cardiac output falls resulting in cerebral ischemia, visual efforts, particularly with glottis closed (Valsalva maneuver) when because blackouts and unconsciousness Valsatva maneuver or severe bouts of cough may be therefore, dangerous in an old man intrapulmonary pressure As fhe act of inspiration proceeds, the lungs confirms to expand and the intra atveolar irvtrapulmonary) pressure fails In quiet breathing, it may thus become -3 mm Hg As ar of the atmosphere enters (because of the pressure gradient). the negabvity decreases and at the end of the inspration, it is again ob i e. atmospheric During quiet expiration the pressure rises, {maximum +3 mm Hg) but at the end of expiration * is again O In VatsaVa's maneuver, great expiratory efforts are made with the glottis closed, intrapulmonaiy pressure may nse tremendously (say about + 60 mm Hg) This may cause rupture of the atveoli PRESSURE VQLLtoC WTERELATIONSHIP. COMPLIANCE lrutroduciion As The muscles of inspiration contract, the thoracic cage expands, the inrapteurai pressure, that is, the pressure around The lung, falls and the volume of lung increases (fig A 2 1) As already pxplamed in the mechanism of breathing, (he tung expands because it is pulled by the visceral pteura The degree of pull is proportional to the negativity of the plsura! cavity, greater negauvity indicating greater pull

HSBC Mortgages

My partner has banked with HSBC since his student days and has had his fair share of run-ins with them (like over-extending the overdraft and maxing out the credit card etc!) but has mellowed out somewhat in the time we have been together. Following a period of what I fondly refer to as 'credit hell' we having been working our butts off ever since to try and improve our credit rating to get back to a clean slate. Circumstances came up (at not such a great time, which is normal)and we found ourselves in need of getting or having 12 months to find a lender who would offer us a mortgage. It seemed that every avenue we turned to ended in a closed door and so we went down to HSBC with not too many hopes. The mortgage advisor was fantastic. He told it to us straight, told us the things we needed to do and ultimately, he gave us a goal to work towards. We came out not feeling like we had been laughed, which, after a fair few declines, is no small feat, and began working towards the light at the end of the tunnel. Well, the year is almost up and boy, have we worked hard. We went back to our friendly mortgage advisor to check that we were on track and he congratulated us on our efforts, which made us feel very pleased with ourselves. Like he said, the only way for us to truly improve our credit is to get a mortgage and in order to do that, someone has to take a gamble on us so that we can prove ourselves... HSBC are taking that gamble and I believe that it would take a very big something to stop us from banking with them from now on. They have been the friendly face that you so rarely get from Banks and Building Societies these days and once we're on the ladder, we won't forget all the hard work we had to put in to get there.

endolracheal tube, if Jocal anesthelrcs (to paralyze this irritant receptors)

endolracheal tube, if Jocal anesthelrcs (to paralyze this irritant receptors) are not sufficiently used, bronchospasm many develop Similarly, sneezing is also due lo irritation of such receptors in the nasal mucous membrane) So, in short, lung irritant receptors are ardinanly not called into action, when Ihey operate, the rhythm of respiration is severely altered Afferent impulses from these receptors are earned by vagal (afferent) fibers V Peripheral ctomoreceplors Chemoreceptors are present in various anatomical sites of the body and they serve vanous purposes In connection with the control of respiratory1 system we have two types of chenoreceptors, (i) central chemofeceptors (described afterwards), and (ii) penphtral chetmoreceptors etanls ol penpheral chmoreciplors will be given below The following sketches may be noted at present Penpheral chemoreceptors include two sets, (a) cartid body [present at the root of eiiernaf carotid artery fig.4 3 5) and (b) aortic bodies, present in the arch of aorta. They are so placed in the vascular endothelum that they come in direct.cortfacl with the blood They can delect (= analyze) the anenal blood P02 (= Pa02)h PC02 (= Pa C02) and pH When Pa 02 is low, they are stimulated send signals lo the respiratory center respiration stmulated (hyperpnea), by which Pa 02 deficiency is corrected These chetmoreceptors can also sense (= analyze) the PaC02 and when PaCQ3 is high they are ;[stimulaied hyperpnea a correction of PaC02 values However, so far as PaC02 is concerned, central chemoreceptors (not the peripheral ch em o receptors) play the dominant role On the contrary, for Pa02. there is no central chemo receptors and.the. PaO2 correction occurs via the peripheral chemoreceptors. Low blood pH is also sensed by The

The current account mortgage works like a huge overdraft secured on my house

The current account mortgage works like a huge overdraft secured on my house. I have my salary paid into it and all my direct debits etc. come out of it. The rate varies depending on how much you owe in relation to the value of your property – for me, fortunately, it’s in the lowest bracket. I am saving loads of money each month and actually paying the mortgage off, not merely paying the interest. I can use PC banking which was not available with the building society I had my previous mortgage with. There is no redemption penalty if I win the lottery and decide to pay the mortgage off. I could go on but you'd get bored.
The whole thing, from me deciding to re-mortgage to the money being in my new current account, took around six weeks. Whenever something cropped up, as things do, I simply rang my local branch (or they rang me) and talked to one of three ladies whose names I knew and who, despite being busy, took as much time as was necessary to sort out whatever needed sorting in the friendliest manner imaginable. There was one snag: the mortgage insurance. This is supposed to be free for the first six months and I expected the premium to start being taken out of my account at the beginning of this year, but this never happened. It seems that somewhere along the line, the application had gone astray: I've never established whether it was me, the bank or the insurance company who lost it. This is a minor problem - it had the potential to be major if anything had happened but I was lucky.
The Royal Bank of Scotland are only human, and do make mistakes from time to time. Little ones, in my experience, and not very often. They use their vast electronic machine to help, not to hide behind. I wish all banks were this nice!

affected Many of the victims developed muscular paralysis Following Paintal's

weakness Teteologically, this may be viewed as a naturally exsting 'brake'mechanism in the body, operating to prevent excessive exercise However, paintals vews regarding the cause of muscular weakness in physical exercise is yei to be univsrsally agreed Towards the end of 198J. a ryeal iragedy, called Bhopal Gas Tragedy'occurred m Bhopal oMndia In this tragedy, poisonous gas leaked out from a factory and great many people were affected Many of the victims developed muscular paralysis Following Paintal's line of argument, it can be suggested that This can be due to the stimulation of the J raceptors by the gas Afferent fibers from [ht J nctpton are carried by thi vagus iV Lung irntant receptors Thess are present in the epthelial layer (in between the epthelial ceils. to bt precise) throughout the tricheo bronchial tree (but upto the respiratory bronchiole) They are stimulated by cigarette smoking, industrial pollutants like S02 and imtant gaas Thers is a suggestion that during asthmatic allacks they are stimulaied by histamme (recall mast cell' dtslabtlzation and release of hitarrane itend to occur with very slight provocation in asthmatics) Effects may be of two types i) if the receptors of trachea/bigger bronchi are stimulated the response is cough ii) if the receptors of smaller or smallest bronchi are stimulated, the effect is bronrhospasm Cough In Ihe intial phase of cough, there is a catch (an inspiratory catch) followed by violent expiralory effort with Ihe glollis closed Ai this phase the inliapleural pressure nses tremendously (may reach figures like 7O or 8O mm Hgi and the alveol have to withstand a tremendous pressure This is followed by actual expiration of The air with a very high velocity (may be 500 or 700 km/hr (During cough, owing to great nse of intraptlaural (and hence mediastial pressure) veins (which ara thin walled structures) are severlytd cessatfon of bfood flow through Them no cardiac infow no cardiac outflow (output) cerebral ischemia Recall the brain cannot withstand assaults of anoxafschemia for. say, more than 20 seconds So a severe and prolonged attack of cough may be assocntad with visual black outs and even fainting due to lack of brarn blood supply Cough is beneficial as it causes removal of obnoxous agents from the tracheo bronchial tree However excessive cough, threatening to produce alveolar ruplure/fainting, attack/hemiaton etc should be stopped by anirtussve (cough suppressant) agents Bronchospasm is also to some extent. teleologically benaficlal as il prevents entry of further noxous agents During anesthesia and introduction of

Re-mortgaging with the Royal Bank of Scotland

I've been a home-owner now for about eleven years: bought my first house as the market hit rock bottom and and am still there. Naive as I was then about financial matters, I took advice from a professional and ended up with an endowment mortgage. I expect you can guess what happened next. Actually it wasn't that bad: I still had fifteen years to run on my mortgage and am young enough to get another 25-year mortgage. So that's what I decided to do.
I have banked with Royal Bank of Scotland ever since they took over Williams & Glynn's Bank nearly 20 years ago and while I've had other bank accounts as well, both personal and treasurers' accounts for some clubs I've been involved in, as well as building society accounts, RBS have always won hands down when it comes to customer service and helpfulness. Also, and this is VERY IMPORTANT, you can phone your branch up and speak to a real person instead of phoning a call centre and going through endless menus in order to talk to someone who can't or won't help you. So when it came time to re-mortgage, I looked at the available options with the intention to go with RBS unless something spectacularly better came up. It didn't - in fact the current account mortgage I decided on had one of the best rates I could find and in addition, the Bank paid all the legal fees and the valuation fee. The actual process was simple. I filled out the application form and sent it off with the necessary copies of my payslip etc. The bank made an appointment to send their surveyor round and my partner stayed home that day. The bank's solicitors did all the legal work: they are based up north but there is no reason whatsover, with a routine transaction, why I should have needed to see them in person, and I didn't. I did speak to them a couple of times and they were friendly, helpful and phoned me back when they said they would. I had to do very little myself.

probably in the walls of the alveoli, when stimulated they produce apnea (=

, probably in the walls of the alveoli, when stimulated they produce apnea (= stoppage of respiration) followed by hyperpnea. bradyeardia and hypotension In addition. 11 can also produce bronchospasm Further, stmulation of J receptors Ie ads to the inhibition of contraction of the skeletal muscles Therefore. J reflex = stimulation of J receptor bradycardia + hypotension + hyperpnea + weakness of skeletal muscles When are these receptors stimulated? Answer is, it is slimulaied in pathological conditions like, (i) sma emboh in the pulmonary blood vessels and (ii) pulmonary edema J receptors and muscular exercise What causes the physical exhaustion and muscular fatigua during a hard exercise is not clearly known (In general, it is believed that fatigue in intact man is caused by central mechanism, ie . mechanism residing in the synapses of the central nervous system) Paintil argued that during muscular exercise. cungestion of the pulmonary capillaries lead to slight accumulation of interstitial fluid (recall, at health during rest, the pulmonary interstium is dry) this in turn Ie ads to stimulation of J receptors muscular weakness Teteologically, this may be viewed as a naturally exsting 'brake'mechanism in the body, operating to prevent excessive exercise However, paintals vews regarding the cause of muscular weakness in physical exercise is yei to be univsrsally agreed

How to Become a Forex Broker

It is a fact that you can make money with currency trading on Forex. Indeed, Forex investing is one of the most potentially rewarding types of investments available. Since individual traders and companies have equal chance to expand in Forex trading, we all have the option to becoming a forex trading broker in order to generate more revenue.
In order to help with your trading strategy and transactions, it is recommended that you must find a forex broker if you are new to the FOREX. The forex broker acts as a liaison of the client to the forex market, which provides technical analysis and research of the market situation and guides the client on the methods of trade as well. All of the information he provides is believed to increase the client's profit.
Before I will discuss on how to become a forex broker, here are some reasons why should you become one. As a forex trading broker you provide your customers access to the freedom that comes from actively trading their own money online on secure forex trading platforms. Since you offer your clients some money making opportunities and some investments, you are then greatly improving the scope and reputation of your own business leading to greater client retention levels. Aside from the fact that you are paid a commission you can also take advantage of the explosive growth in the demand for alternative investments by offering your high-net worth clients a managed forex account.
Becoming a forex broker is simple. A currency trading broker in the Forex trading market is like being a realtor in the property market. Here are steps to becoming one. Becoming Licensed and Registered. Sign on to a licensed business or seek appropriate securities license and fill out a registration form with the SEC in order to be a full service broker. Take note that licensing is different depending on which state you live in. If you move from state to state, license is not always acknowledged. You’re ready to start trading once registered.
However, if you want to become a business broker only and not a full service forex broker, you may work at a brokerage house. You may either go to school or try to learn forex trading by yourself in order to get license. Remember, knowledge is power for the successful broker! A successful forex broker is aware of what’s happening in the world. Forex brokers research heavily on all political and economic news from the countries for which they hold currency.
Forex brokers are much like any other broker that act as the middleman for the individual and the market itself. They key to a successful forex broker is to get licensed and educated about how the market works. With this article you now have information on how to become a forex broker. Get licensed and registered and start forex trading. Soon you will just be sitting up in your multi-million

contracticns obviously, results in mixing of the food matter (chyme) with juices

contracticns obviously, results in mixing of the food matter (chyme) with juices available in the intestine (like pancreatic juice and bile). This type of contractions can not cause propulsion of the chyme in the aboral direction. (ii) Pendular movements are similar to The segmenting contractions: however the individual segments formed are large, about 20 cm in length Therefore, the chyme moves forward i.e. in the aboral direction hist and then retraces its path next. This type of movement helps the liquid chyme (recall. That the chyme delivered from the stomach is either liquid or nearly so) to move to and fro. like the pendulum of a wall clock, i.e. it is exposed to a large area of intestinal mucosa provided by the villi and microvilli. The intestine acts here as a powerful shaker, (iii) Peristaltic waves, first described by Starting and Bayliss. consist of a ring of contraction which moves forwards, i.e. in the aboral direction. The result is that the chyme moves in the forward, i.e. aboral. direction So peristalsis is a propulsive movement. Because of the fact That it sleeps onwards, it is also spoken of as a translatory movement. Starling and Bayliss
visualized the whole process as follows . a sort of a mass of chyme appears somewhere in the small intestine and acts as a stimulus (stretching produced by The bolus is actually the specific stimulus). As a result the ring of constriction appears behind (i.e. cranial to ) the mass and relaxation occurs in front (i.e. caudal to) of the mass and the mass therefore moves forward. In its fresh. i.e. new position. The mass again acts as a stimulus and the whole process is repealed. This conception remains valid till to dates. Peristalsis waves are superimposed on segmental movements. [NB. According to

Knowledge in Forex Trading

I read all the time about how important it is to learn lots of information to trade forex and how you continually need to learn, but this is NOT true. Succesful Forex trading is actually very simple and the knowledge is easy to acquire, yet 90% of traders lose - so why is this ?Because knowledge alone is not enough, furthermore you need to learn the right knowledge and most forex traders don't.There are plenty of very smart people who lose and plenty of small potato investors who make a lot. The fact you have a lot of knowledge or are clever does not ensure success and in most cases ensures you lose.Let's look at this in more detail.The right knowledge Is not hard to acquire and starts from learning yourself and not trying to get a short cut to success by buying it - if you think you can buy success you are going to lose.Trading means getting knowledge that works and you can have confidence in.Your aim is to make money, not be clever and you can build a simple system from free resources on the net.Simple systems beat complicated systems as they are easier to understand, easier to apply and make more money as they are more robust.Fact is most of the top traders in the world use simple systems.We have been traders for over 22 years and our system is simple:Trend lines, support and resistance to spot trends and 3 confirming indicators and that's it and it works.The right knowledge is easy to acquire but the trick is you MUST understand it, to have confidence and this gives you the trait that most traders lack. DisciplineIf you try and follow someone else you won't have confidence and you won't be able to follow a system with discipline. Unless your knowledge is acquired by you and you have confidence, you won't be able to follow your trading system through losing periods. You will simply throw in the towelDiscipline sounds easy to acquire but it isn't - it's extremely hard to hold your emotions in check.How do I get the RIGHT KnowledgeForget all the e-books, courses and other forex education sold on the net.Go to Amazon and get some books by top traders, who have walked the walk rather than simply talk the talk.Most sold info on the net is not worth the money and you can get far better knowledge cheaper at your local bookstore.Good books to start with are Jack Schwager - Market Wizards and New Market Wizards - the interviews here are all with legendary traders and is a great inspiring read.Then get some books on trader psychology.I am a big fan of Jake Bernstein who really shows how important and elusive getting the right trading psychology is and really hits it home.Another favourite of mine is Trader Vic by Victor Sperandeo, a fantastic book covering all you need to know from money management to system building.Done that?Then go on the net and build a simple system based around technical analysis, a breakout methodology find a few indicators you like to confirm trend momentum and you're all set to go. Sounds simple?Building the system is the easy part - getting the right mindset is the hard part - good luck.

This is due to stimulation of vomiting center by some metabolites Vomiting

This is due to stimulation of vomiting center by some metabolites Vomiting very often ejects undesirable substances from the stomach and Thus, saves us from Them. However, persistent vomiting also causes loss of water (dehydration and H+ ions (alkalosis) with their attendant train of sequences. MOVEMENT OF THE SMALL INTESTINE 1. Introduction. 2. The movements the different types of movements, effects of nerves and hormones on them and conditions influencing them.3. Applied Physiology. Introduction The small intestine, beginning from the first part of the duodenum and ending in the ileocecal junction, normally maintains a tone After death. this Tone disappears and as a result. The length of The small intestine (as well as that of the large intestine) increases To great extent The length of the intestine in cadavers, therefore is no index of That in life. In addition to the tone three other movements are described classifically They are - (i) segmentations. (ii) pendular movements and (iii) peristalsis. These are on the basis of the animal experiments made by Cannon (of USA) as well as Starling and Bayliss (of Great Britain) who made their studies in the beginning of 20th century or in the last phased 19th century. In 1965 G. Friedman and his colleagues reported their studies on the movements of human srnall intestine. They introduced some new nomenclatures while describing them However, on the whole The movements are basically simlar to Those found by the earlier workers on the animals. THE MOVEMENTS Description and utility. (i) Segmentation or segmenting contractions were described by Cannon. In this movement, constrictions appear at several points in a portion of The intestine Therefore, that portion of the intestine is divided into several segments, each bounded by a ring of constriction on either side. Each segment is about 1 or 2cm long. Very soon a constriction ring appears in the middle of each segment but The previous constrictions now disappear. This process is repeated (fig.3.7.3) and the constriction rings again appear at the sites where they appeared

Online Forex Broker Profile

MoneyForex Financial Ltd. is one of the world leading online currency trading broker offering low pips and commission-free online forex trading. Founded by Wall Street veterans, MoneyForex's vision is to service individual and corporate investors such as money managers, banks, and financial institutions in easing the complexity in dealing with forex trading. Our dealing software which specialized in forex dealing is rated second to none for it user friendly environment. Lightning speed and efficient execution is one of its many benefits.MoneyForex Financial Ltd. is incorporated in British Virgin Island (Registration Number 629302) under the provisions of the International Business Companies Act, 1984. MoneyForex is authorized to offer futures, securities, and foreign exchange as a forex broker and primary market maker.MoneyForex is founded by a group of Wall Street Veterans who has more than 30 years experience in the financial market. Other than the financial industry, the group operates various businesses including real estate development, media communication, advertising, internet technology and software application and development.In this complex forex market, a user friendly platform is a must in order to make fast and efficient trading decision and execution. Our trading platform is rated the most user friendly by professional traders. MoneyForex's clients consist of financial institutions, money managers as well as individual investors.We take pride in our professional staff that is thoroughly trained to look after the best interests of our clients. Our professional staff is available twenty-four hours a day (Monday to Friday) to answer your inquiry. Try out our service by open a free demo forex account.

There is a concomitant stoppage of respiration after initial 'catch'

in inspiration. the Lriynx is closed and is drawn upwards. All these events result in prevention of aspiration of the vomits into the respiratory tract. The palate There is a concomitant stoppage of respiration after initial 'catch' rises and the communication between the nasopharynx and pharynx is cut off This prevents spilling off of the vomitus into the nasopharyngeal and nasal cavity. Ant peristalsis waves may develop in the stomach or duodenum and if This develops it aids in vomiting. However, development of ant peristalsis waves is probably not essential. Vomiting center. This is situated in The medulla, close to the salivary centers. salivations therefore, is common when The vomiting center is stimulated. The vomiting center may be stimulated by a very Large variety of stimuli. Thus inflammation of malady of most of the viscera within our abdomen (gastritis. enteritis, cholecystitis etc.) heart (myocardial infarction) or ghastly disagreeable sight, smell, taste etc. can cause vomiting. Head injury and intracranial Tumor irritate The vomiting center directly by means of raised intracranial tension and cause vomiting. This type of vomiting is called "central vomiting’ Near The vomiting center at medulla There is a "central chemoreceptor trigger zone" (CTZ) which when stimulated, causes a stimulation of the vomiting center in turn. Drugs of the group of phenothiazines (e.g. chlorpromazine or largacticl'. act on this CTZ and thus inhibits vomiting. Nausea and vomiting, particularly in the morning are normally seen in early months of pregnancy and are called "morning sickness"

There is a concomitant stoppage of respiration after initial 'catch'

in inspiration. the Lriynx is closed and is drawn upwards. All these events result in prevention of aspiration of the vomits into the respiratory tract. The palate There is a concomitant stoppage of respiration after initial 'catch' rises and the communication between the nasopharynx and pharynx is cut off This prevents spilling off of the vomitus into the nasopharyngeal and nasal cavity. Ant peristalsis waves may develop in the stomach or duodenum and if This develops it aids in vomiting. However, development of ant peristalsis waves is probably not essential. Vomiting center. This is situated in The medulla, close to the salivary centers. salivations therefore, is common when The vomiting center is stimulated. The vomiting center may be stimulated by a very Large variety of stimuli. Thus inflammation of malady of most of the viscera within our abdomen (gastritis. enteritis, cholecystitis etc.) heart (myocardial infarction) or ghastly disagreeable sight, smell, taste etc. can cause vomiting. Head injury and intracranial Tumor irritate The vomiting center directly by means of raised intracranial tension and cause vomiting. This type of vomiting is called "central vomiting’ Near The vomiting center at medulla There is a "central chemoreceptor trigger zone" (CTZ) which when stimulated, causes a stimulation of the vomiting center in turn. Drugs of the group of phenothiazines (e.g. chlorpromazine or largacticl'. act on this CTZ and thus inhibits vomiting. Nausea and vomiting, particularly in the morning are normally seen in early months of pregnancy and are called "morning sickness"

Learn to Trade Forex

The GBPJPY is trading at an important long term resistance level around 159.45, in the short term charts it is trading in a tight range in between 159.79 and 158.23, so it first need to clear either support or resistance to start looking for trading opportunities, please take a look at the next chart:
If the market breaks the 159.79 short term resistance line, I will be looking for long opportunities. All take profit orders will be placed around 161.70
If the market breaks the 158.23 short term support level, I will be looking for short trading opportunities. All take profit orders will be placed around 157.00
If the market keeps trading in the short term range I will do nothing.
Good luck

family, friends relatives, people at work, etc . (iii) rahabilltating the recovered pattern in

reaction family, friends relatives, people at work, etc . (iii) rahabilltating the recovered pattern in to recognisable psychosocial stresses Clinical picture is characterised by preserves of emorional turmoil and florid psychotic symptoms such as delirium hallucinations, incoherence and grossly ofeorganfsed behaviour These syrnptoms should be prsseni for less than 2 weeks Treatment - Antipsycholic drugs as in schizophrenia, although some cases are known to remit spontaneously. IV Schizo-affective disorder - Characterised by the simultaneous occurrence of schizophrenic symptom and symptoms of an affective or mood disorder, after depression or elation This diagnosis carries a better prognosis than schizophrenia. Treatment - Antipsychotic: drug, as in schizophrenia or In combination with antidepressants (in presence of depressive symptoms) Antipsychotic drugs are also efficacious when administered in combination with following mood stabilizers. (a) Lithium carbonate 600-1500 mg/day orally so as to achieve serum lithium levels ranging from 0.6-1.0 Eq /L. (b) Sodium evaporated 600-1500 mg/day orally (c) Divalproex (d) Carbamazepine 600-1200 mg/day orally Drug treatment can be given co currently with ECT and supportive psychotherapy. V. Delusional disorders -Characterized by occurrence of non-bizarre, persistent, well-systematized delusions of persecution of Jealousy In contrast to the bizarre delusions seen in schizophrenia Unlike schizophrenia hallucinations, are absent in delusional disorders. The non-bizarre delusions usually involve situations that could occur In reality. such as being followed, poisoned or deceived by spouse or lover. These delusions should be present or at least one month. The behaviors and emotions are appropriate to the content of the delusional system Apart from the impact of delusions, daily functioning is not markedly Impaired. A related condition is shared Delusional Disorder In which a delusional system develops in a person as a result of his close friendship with another person who has a delusional disorder. 2. MOOD DISORDERS Definition. The mood disorders are so called because their main feature is an abnormality of affect or mood This

Foreign Exchange Education Centre

The Forex market is a non-stop cash market where currencies of nations are traded, typically via brokers. Foreign currencies are constantly and simultaneously bought and sold across local and global markets and traders' investments increase or decrease in value based upon currency movements. Foreign exchange market conditions can change at any time in response to real-time events.
The main enticements of currency dealing to private investors and attractions for short-term Forex trading are:
· 24-hour trading, 5 days a week with non-stop access to global Forex dealers.
· An enormous liquid market making it easy to trade most currencies.
· Volatile markets offering profit opportunities.
· Standard instruments for controlling risk exposure.
· The ability to profit in rising or falling markets.
· Leveraged trading with low margin requirements.
· Many options for zero commission trading.

age of 20-25 years with equal incidence in both sexes Onsel can be acute or gradual Clinical charactertetics

age of 20-25 years with equal incidence in both sexes Onsel can be acute or gradual Clinical charactertetics include catatonic alupor. catatonic rigidity. negativism, posturing or sengaless exciramant 3 PARAMOID SCHIZOPHRENIA-Occurs around the age of 25, to 30 years, incidence is perhaps mors in males than famales Delusions of suspiciousnesa. persecution and grandeur are the characteristic syrnptorns Disorganization of speech and thought and hallucination are additional symptorne Personality comparatively wall preserved and autism and regression are rare Prognosis is better than in hecephrenic schzophranla 4. UNDIFFERENTIATED SCHIZOPHRENIA - charaderied by prominent delusions, hallucinations, incoherence or greatly disorganised behaviour, which cannot be grouped intu any of the above types of schizophrenia 5 RESIDUAL SCHIZOPHRENIA - In this type. the patient would have a history of at least one episode of schizophrenia, but there are no prominent psychotic symptorrs at the time at evaluation except for bluntad or inappropriate affect, social withdrawal, eccentric behaviour or illogical thinking B According to duration of illness 1 Acute Duiatlon of illness is at least 6 months 2 Chronic Duration of illness is more than 2 yeare C. Based on psychopahology 1 TYPE I SCHIZOPHRENIA comprises transient positive symptorns (e.g delusions, hallucinations, thought duisorder) it has been suggested that type I symptoms result from a central hyperdopaminergic state and are ameliorated by post-synaptic dopamine receptor blockade caused by rienrolepties 2 TYPE II SCHIZOPHRENIA - is characterised by 'negative symptorns such as emotinal blunling. apathy anhadonia. asotclatity and 'Impoverished thinking Prognosis. Good Risperidone 4-8 mg od or bd orally Doses less than mg/day are less likely to cause extrapyramidal symptoms 2 Electro-convusive therapy (ECT) - About 6 to10 convulsions spread out over a period of 2 to 4 weeks Indcations (a) Caiaconic and paranoid schizophrenia (b) Stupor. excitement or violent behaviour of the patient (c) Associated syrnptoms of depression or mania (d) Suicidal and homicidal tendencies (e) Patients not responding to the other treatments 3 Psychothgrapy and Case work - Supportive paychontharapy indicated(a) early schizophrenics, (b) rnaintenance and rehabilitation of recovered patients Anatytical or deep psychotherapy usually avoided In schizophrenic patients Case work by psyatric social worker is quite useful in (i) modyfing the environment (physical as well as psychological) so as to make it less stressful for The palisnl. (ii) eslablshing harmonioua relationship with people around, i e.

Traits of Successful Forex Traders

Forex trading is an exiting way of earning a living or making some extra money on the side, but its not for everyone. There is always the risk of losing money on top of all the variables you have to take into account. Some people just cant make the cut into the realm of successful traders. If you are considering taking up Forex trading as something else than a hobby, you will want to read this article carefully. It contains the traits that set successful traders apart from the rest.If you can’t recognize these traits in yourself then maybe Forex trading isn’t for you.
Discipline. Successful traders always go by a strategy and don’t let their emotions get the better of them. They never ‘trade on the fly’.The ability to accept risk as part of the game. Despite what you may hear from shrewd sales pages, Forex trading is never without risk. Risk is the other side of the coin. There is big profits to be made but you have to be willing to accept the risk of losing.
Willingness to accept failure and learn from it. Even the best traders in the game lose trades. Its the natural order of things. But the difference between a successful trader and a losing trader is the ability to learn from failed trades and not dwell on the negative.
Confidence. Successful traders always keep confidence in their ability and knowledge. They don’t second guess themselves after making a trade.
The ability to accept being wrong. No one is perfect. You are going to make plenty of mistakes along the way. Don’[t be stubborn and stay in trades gone bad to save yourself from admitting you were wrong.
Patience. Smart traders stay with their system and wait patiently for the right spot to present itself. You don’t need to have positions open all the time. Don’t trade just to trade.
Know when to get out. There is more to trading than knowing when to get in, you need to know when to get out as well. Too many traders got greedy and stayed in a trade for too long, only to see their profits wiped out. Get out when your system tells you too. Don’t go chasing pips.
Know your financial limitations. Don’t over-leverage yourself and don’t trade with money you need to pay your bills or risk ending on the street. Only trade with money you can afford to lose even if this means starting out with only a few hundred dollars. There are many forex brokers where you can get started with that.

barber's Instruments, hair brushes and combs

barber's Instruments, hair brushes and combs. There is patchy hair loss with broken hair. Hair Infected by Microsporon fluoresces under Wood light The fungus gets foothold in the stratum corneum and grows in it. later it enters the hair folicle. penetrates the hair cortex and flourishes Inside. The weakened hair then breaks giving rise to a bald patch Types (a) Black dot patch (b) Grey patch with scaling. (c) Inflammatory type Certain fungi causa deep, boggy swelling called a kerion. (d) Favus - Circular yellow cups made up of a fungal mat (scutula) surround the hair follicle it occurs also on the nails and body. Patients have a 'mousy' odour. Tinea capitis should diferentiated from Impetigo. alopecia areate. seborrhoeic dermatetis Tinea barbae - Is usually found in adult males. it is acquired from a barbers Instrument or from animals The lesions are similar to tinea infections else where Types (a) Non-Inflammatory type - spreading peripherally and clearing in the centre. (b) Inflammatory type - This is a deeper type wich pustules and kerion formation a should be differentiated from sycosis barbae Tinea corporis - Ringworm of the glabrous skin can occur anywhere on the body. it is caused most oftan by tricophyton speclea. The lesion starts as a papule which spreads ring-like perlpneralry with central clearing. The lesions are usually circinate with an active border consisting of vesicles and sealing. D. D. - (a) Tubsrculoid leprosy where minimal Infiltration in the penriphery mimics the active border of tinea circinata (b) intertrigo with scabies with lesions In flexural and moist sites

forex signal provider? which one?

So you decided to make full time leaving from foreign exchange market? Or you are going to supplement your income from here? You have set up yourself with proper broker available. I believe you spent hundred of hours in front of PC trying to put together all maths and physics involving currency market. Now you watching business news in the morning paper and following CNBC channel to be on the top with latest information from exchange market. You trading your demo account trying to figure out how to make it all work? So? Does it? No?Face the fact that in currency market all is possible and there is no golden rule to follow. There are so many aspects to consider that you will need at least another head to set this puzzle together.But do not worry there is a hope that can make it work.Signal solutions for forex trading. People who traded forex for a long time and developed their own systems to enter and exit with profit strategies. They will share this knowledge with you for varieties of prices from usd49 to usd499 a month for those precious information. Problem is which one will suit you best. Are they scams? How do I know?For medium advanced forex trader is almost impossible to choose proper forex signal system, which is not a scam, or at least not profitable. There is bulk of forex signals providers out there. They all offer their signal solution to trade currency with success.Advice is that you will have to establish what type of trader are you? Do you want to trade quickly or maybe over the days or weeks? What losses can you manage and how much money you want to invest.As long as you know al that it is a time to pick up signal trade provider.Few things worth researching are: performance, service offered and rewievs of the signal. Search on forum for another users of the product you are interested in and ask for comment. Every profitable system should be up on collective2 with real track performance. Look for service offered. You will quickly find out that only few offer free trail-option to try signals before you pay. Demand performance evidence.But while doing all that hard work choosing your automat forex signal system remember that you will have to totally follow it without exceptions to make most out of it. Any even small innovation may have dramatic results in your own gains.Remember that your future profits will depend on your signal provider so calculate carefully and make smart decisions.for more go to http://www.rorexmoneysignal.com

. Tha signs are similar to pediculosis corporsis Compliction - Secondary infection

. Tha signs are similar to pediculosis corporsis Compliction - Secondary infection. lymphadenitis. urticarial rash Management .P. capitis infestation - Ganma benzene hexachloride 1%or permethrin 1%or malathion 05% single applications are efective but it is safer to repeat after 10 days Massage gently into the scalp, leave it on for 8 to 10 hours and then shampoo if off There is a permethrin shampoo available which has to be used like any other shampoo. Nits can be removed by combing the hair with a fine toothed comb, dipped in vinegar. 2. Fungal infection Definition Fungal Infections are caused by non-photosynthetic vegetable parasites called fungi. Broadly two types of superficial fungai infections exist - Keratinolytic; and Nonkeratinoclytic Classification: 1. Superfecial mycoses Tinea versicolor. Tinea nigra. Trichomycosis axillaris, Piedra. Candidiasis. 2. Cutaneous mycosis Ringworm fungi. 3. Subcutaneous mycosis. mycetoma, Rhinosporidosis, Sporotrichosis, Chromoblastomycosis. 4 .Syatemic myocosis Actinromycosis, Nocardosis, Gandidiasis, Histoplasmosis. Blastomycosis. Coccidiodomycosis. 5. Miscellaneous - Aspergillosis; mucomnycosis Keratinolytic fungal Infection Ringworm (Damiatophytosis) Etiology This superifcial fungus infection is caused by species of three genera of fungi - Trichophyton. Micerosporum and Epidermophyton. The clinical picture is often similar, and identification e dificult without culture. henca these darmatophytes are best described according to the region of the body Involed Dermatophyte fungi are found in the soil. In animate and human beings. They live on the superficial layers of the epidermis, hair and nails The factors that promote dermatophytophytosis are a warm humid climats. poor nutrtion and hygiene, contact with infected animals and humansr debililating diseases Clinical types Tines capitis - is commonest In children and e sometimes seen In epidemic proportions Infections are caused by species belonging to either Microsporan or Tricophyton Mcrosporon is very rare in India. It is usually spread by caps,