Friday, 7 February 2014

Microsoft wants to swap your iPhone 4, iPhone 4S, or Galaxy S2 for a Lumia 1020 or Lumia 1520

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Earlier this week, we wrote about a Microsoft Store deal offering to buy your smartphone or tablet for up to $250, and speculated that “device-specific deals” would come later. The first one is already here: you can now get a new Windows Phone (Lumia 1020 or Lumia 1520) in exchange for your iPhone 4, iPhone 4S, or Galaxy S2.
lumia 1020 1520 iphone s2 Microsoft wants to swap your iPhone 4, iPhone 4S, or Galaxy S2 for a Lumia 1020 or Lumia 1520
As you can see, Microsoft has included a cute image of the Android and Applelogos in the trash. The deal is only valid until March 2, 2014, or “while supplies last.” There are also some important caveats worth noting (we’ve highlighted the important parts in the following fine print):
To be eligible for trade-in, product must power on and be in fully functional, working condition without broken/missing components, cracked display/housing or liquid damage, cannot be password protected, and include original chargers/accessories. To receive maximum trade in value, you must purchase an eligible Nokia Lumia 1020 or Nokia Lumia 1520 with a qualifying new or renewal mobile contract or upgrade (2 years) at the same time.
Any appraised value will be determined at trade-in and provided as store credit, subject to Microsoft’s discretion and approval. All trade-ins are final. Not valid on prior orders or purchases; cannot be transferred or otherwise redeemed for cash or gift cards. Not combinable with other offers. Discount does not include taxes, shipping or other fees. Void where prohibited or restricted by law. Microsoft reserves the right to modify or discontinue offers at any time.
If you have old devices lying around, you can either get a fairly recent Lumia device in exchange, or some in-store credit. As has been pointed out a few times with these deals, however, you’ll need to find a store (US and Canada only) that is close to you, and make sure the deal is available.
This is a smart strategy for Microsoft, though it also highlights the company’s problem in retail: it doesn’t have many stores.

Neymar not to blame for Camp Nou chaos, says former Barcelona defender Nadal

Neymar not to blame for Camp Nou chaos, says former Barcelona defender Nadal
The ex-Spain centre-back believes the Brazilian needs to isolate himself from the current crisis at institutional level, which was caused by his signing from Santos
EXCLUSIVE
By Ben Hayward | Spanish Football Writer

Former Barcelona defender Miguel Angel Nadal says Neymar is unlucky to have been caught up in the recent troubles at the Catalan club and believes the Brazilian needs to be left in peace.

The investigation into the forward's summer move from Santos led to the resignation of former Barca president Sandro Rosell last month and new chief Josep Maria Bartomeu began his tenure by revealing the figures behind the transfer.

Those showed Barca had in fact spent a total of €86.2 million on the total operation, although the Blaugranastill claim the transfer fee itself was €57.1m.

Also revealed was that Barca paid out €40m of the fee to the player's parents and Bartomeu could now face court cases in both Spain and Brazil as third party investors DIS also claim they will file lawsuits against the Catalan club in the two countries.

"Neymar is very young and naturally, he has nothing to do with this issue," Nadal told Goal. "Different stories emerge and they are things that don't usually come out. He is [only] involved because the story is there."

The Brazilian, who turned 22 on Wednesday, is currently recovering from an ankle injury and Nadal believes he should isolate himself from the negative press surrounding his move.

"The player should be left alone in all this," he said. "The only thing he did was come to Barcelona because they proposed it to him."


On the defensive | Miguel Angel Nadal in action for Spain

Nadal, uncle of tennis star Rafa and a centre-back in Johan Cruyff's Dream Team, has warned that the case could ultimately affect Barca's performances on the pitch.

"The more calm there is at a club, the better," he said. "That way, attention is focused solely on the objectives outlined at the beginning of the season.

"When that is lost, it can have an effect. In these last few months of the season, Barcelona have to find ambition and security as a team - and also correct a few errors."

Some of those errors have come in defence, particularly at set pieces, and Nadal is sure that the key to winning titles lies in Barca tightening up their back line.

"The defence is an important point because if gives you security and that, in turn, gives you consistency," he explained.

"So you have to find that balance and solve a few of the problems, especially at set pieces, because that gives you [extra] security at the back.

"That will make a big difference becuase it's very rare that Barcelona fail to score."

Energy-efficient: Shell Eco-marathon commences

Incentive: $2,000 is the prize money for a winner in any of the six categories that the teams are vying for in the marathon. PHOTO: FILE
MANILA: At a time when fuel costs continually increase, coupled with a load-shedding crisis, energy-efficient vehicles become the need of the hour.
The Shell Eco-marathon (Sem) Asia 2014, which got under way in Manila yesterday, is an event that stares down the uncertain future and encourages the young generation to be part of the innovation and solution to the energy crisis.
Six hopeful and aspiring teams from Pakistan universities underwent technical inspection – to ensure safety compliance among other requisites – on the first day of the four-day event that is being held in the Philippines for the first time.
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The competition encourages students to design, build and test energy-efficient vehicles with teams being judged on how far their “prototype” or “urban concept” model – across different energy sources — travels on a litre of fuel.
Shell’s involvement in the event, which is the fifth of its kind, comes due to its attitude to lead innovation and reduce environmental footprint, according to Omar Sheikh, chairman and managing director of Shell Pakistan Limited and country chairperson for Shell companies in Pakistan.
“The need for mobility is going to evolve,” Sheikh told The Express Tribune. “We would like to lead the innovation and not just be part of it.”
While Shell plans to “lead the way”, as Sheikh put it, students who were finally able to register and reach the venue – with their vehicles being transported all the way from their university – had their own agenda.
The Pakistan teams, although confident and hopeful, were aware of the tough competition, which sees the participation of over 100 teams from 15 countries.
“The capacity set in our students is amazing,” commented Sheikh. “The delta is between the cars – and not the people. Sem allows the students to polish their skills and get a sense of what is out there in terms of competition. It gives them practical knowledge and an experience that itself is very precious.”
Meanwhile, participants from the National University of Sciences and Technology (Nust) were confident of bagging at least the off-track communications award if not winning anything on-track – the first round of which starts today.

Foreign assistance: Govt receives only 26% of projected funds in first half

The United Kingdom provided the largest component in aid, amounting to $138.2 million in grants. ILLUSTRATION: TALHA KHAN
ISLAMABAD: Pakistan remains in firefighting mode despite availing a $6.7 billion loan from the International Monetary Fund (IMF), as the country received about $1.5 billion or one-fourth of the projected annual foreign funding in the first half of the current fiscal year, underscoring grave challenges for the government in balancing its books.
Receipts for the July to December period of fiscal year 2013-14 stood at $1.5 billion or just 26% of the annual estimate of $5.8 billion, according to documents released by the Economic Affairs Division (EAD).
Out of the $1.5 billion, a sum of $273 million was received in grants, while the remaining was in the form of loans.
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The less-than-projected foreign loans have increased external financing requirements that remain significantly higher, much more than the official foreign currency reserves of $3.18 billion that the State Bank of Pakistan (SBP) currently holds.
With this, the chances of an upward revision in the current account deficit target for the second time have increased, according to analysts. Earlier, the IMF revised the current account deficit projection for the current fiscal year from $1.3 billion to $2.3 billion.
Experts believe that the deficit will remain close to $3.5 billion by the end of June this year.
In September last year, Pakistan got approval for the $6.7 billion bailout package from the IMF to avoid a looming default. But the IMF’s decision to disburse the amount in 12 quarterly tranches of roughly $550 million each eroded the benefits that the government was expecting.
The IMF has so far disbursed about $1.1 billion, which is less than what the country has returned to the lender in repayment of the 2008 loan. In the remaining period, the IMF is expected to release two more tranches, provided the country successfully completes the quarterly reviews.
The government seems desperate as it has decided to tap international bond markets without caring for the price that it would have to pay. It is contemplating floating a euro bond next month.
Of the foreign funds, the United Kingdom provided the largest component in aid, amounting to $138.2 million in grants. It had promised to give $224 million in the fiscal year. The assistance mainly came for the Benazir Income Support Programme in addition to education projects in Punjab.
The US disbursed only $31 million under the Kerry-Lugar package, according to official documents. The disbursement was 15% of the annual budgeted amount of $212.7 million.
Flow of funds from Japan, the Asian Development Bank (ADB), the World Bank (WB) and other bilateral lenders was far below estimates. Japan gave $30.7 million or less than a tenth of the projected assistance of $325.8 million, according to the EAD.
Japan is sceptical about Pakistan’s commitment to economic and governance reforms and has linked restoration of budgetary support with the government’s ability to successfully complete the second review of the $6.7 billion IMF programme, said Finance Minister Ishaq Dar last month.
Dar is currently engaged with an IMF team in Dubai where both sides are holding talks under the second review of the programme.
In the first half, aid from China amounted to $186.4 million or 14% of the promised assistance of $1.4 billion for the current fiscal year. It gave a loan of $146.2 million for Chashma III and IV nuclear power plants.
The ADB, the country’s single largest lender, gave $227.7 million or less than one-fourth of the annual commitment of $991 million. The ADB, like the WB, has linked the increase in loans with the government’s ability to introduce meaningful reforms in the energy sector.
The WB gave $214.6 million or just a fifth of the annual commitment, according to the EAD.
The Islamic Development Bank was the only lender that disbursed more than half of the annual commitment. It extended short-term expensive commodity loans of $386 million.
The government also borrowed $100 million from Standard Chartered Bank of the UK to bridge the shortfall.

Financial relations: Pakistan, India to open bank branches soon

Indian High Commissioner to Pakistan TCA Raghavan speaks at a session in Karachi on Thursday. PHOTO: MOHAMMAD NOMAN/EXPRESS
KARACHI: Indian High Commissioner to Pakistan T C A Raghavan has said that Pakistan and India are soon going to open bank branches in their respective countries.
“India and Pakistan will sign an agreement next month to open bank branches in Mumbai and Karachi. The much-awaited banking links will give a boost to trade and commerce,” Raghavan said.
He was speaking to the business community at the head office of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Thursday.
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“It is good that bilateral trade between India and Pakistan has grown considerably in the last few years but it is still far behind its true potential,” he added.
The high commissioner said his country wants to provide all possible support to the business community of Pakistan so that the two neighbours can increase bilateral trade according to their potential.
Speaking on India-China trade, the high commissioner said the two countries are rapidly improving their trade which is now touching $100 billion.
Concerning visa issues, he said India has eased its visa conditions and it is processing more multiple-entry visas for Pakistani businessmen. “However, India has not yet decided on opening an Indian consulate in Karachi, which is one of the core demands of the business community of Karachi,” he added.
FPCCI President Zubair Ahmed Malik said India and Pakistan should increase regional trade and the two countries need to put all the major issues behind trade cooperation.
Currently, bilateral trade is heavily in India’s favour, which has to change if the two countries want to see more trade in the future, he added.
According to the figures of the Directorate General of Commercial Intelligence and Statistics, Ministry of Commerce and Industry, India, bilateral trade recorded a net increase of $410 million from April 2012 to March 2013, up 20%. Pakistan’s exports to India grew 28% while Indian exports to Pakistan increased 19% during this period.
This recent jump in exports is encouraging for Pakistan but it is still far behind the potential.
Official trade between India and Pakistan has crossed $2.6 billion. India’s exports to Pakistan are $2.1 billion while Pakistan’s exports to India are just $500 million.
Both countries have repeatedly pledged to remove non-tarrif barriers which are hampering trade. Pakistan has so far given Indian the Most Favoured Nation status and pledged to work towards freer trade

Avoiding project bidding: Power ministry seeks advice on direct award of contracts

The impact of the energy crisis has been compounded by a lack of internal resources, prompting the country to search for foreign investment and assistance to undertake key projects. PHOTO: FILE
ISLAMABAD: 
As the country finds it difficult to attract significant investment in the energy sector, the Ministry of Water and Power has approached the Public Procurement Regulatory Authority (PPRA) to seek advice on awarding contracts for mega energy projects directly to foreign companies, investors and sovereign states.
“The Ministry of Water and Power has sent a draft to the PPRA for its advice on the application of Rule 42(c), which allows public sector entities to enter into direct contracts,” a senior government official told The Express Tribune.
Many countries like China and Russia and even foreign private investors were interested in undertaking mega energy projects with the offer of financing but they wanted contracts without bidding, the official said.
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Quoting an example, he said China had recently expressed its willingness to provide the entire financing of $14 billion for Diamer Bhasha Dam, but sought direct award of contract.
Pakistan is currently facing an energy crisis because of widening demand and supply gap. As a result, power outages have become unavoidable and have hit the economy badly.
The impact has been compounded by a lack of internal resources, prompting the country to search for foreign investment and assistance to undertake key projects to tackle energy shortages.
According to the official, the Ministry of Water and Power has been constantly contacting potential investors, but these efforts have not borne fruit. The investors are shy of the procedural nitty-gritty and do not want to get involved in what they perceive as a lengthy, inefficient and defective system of bidding, evaluation and award.
Sources disclose that the ministry has prepared a draft framework to stimulate foreign investment in power projects through grant of direct contracts keeping in view Rule 42(c) of PPRA Rules 2004, which enables the public sector to enter into direct contracts.
Under the framework, “direct contracting” will be followed in cases where the foreign private investor or sovereign lender will bear 85% of the project cost while
the remaining 15pc will be arranged by the government of Pakistan or its designated agency. The government will also provide sovereign guarantees for project financing.
The Ministry of Water and Power has sent the draft to other relevant ministries, which have backed direct contracts for mega power projects. The law ministry has also supported the draft, but it has asked the water and power ministry to seek the advice of PPRA before going ahead.
According to the government official, prices of such contracts are determined by the government or its authorised body.
At present, the role of government’s authorised body for the power sector is being played by the National Electric Power Regulatory Authority (Nepra), which has already determined upfront tariff for coal and wind power projects including the capital cost component.
The spirit behind designing the framework is that interested investors will submit their technical and financial proposals for examination by Nepra and approval in accordance with the regulator’s parameters. The project sponsor will get the letter of award once the proposal is approved by Nepra whose determination will be binding.

FDI: Movenpick to invest $30m in Pakistan

The new management says they value the 32-year legacy of this hotel. The renovation plan will usher in a new and exciting phase. PHOTO: FILE
KARACHI: 
Undeterred by lawlessness, crime and terrorism in the city, Mövenpick Hotels and Resorts is going to invest up to $30 million in the next few years to renovate its Karachi property.
The 407-room building located in the city’s pricey business district was known as Sheraton Hotel as recently as January 1. But Arabian Sea Enterprises (ASE), a Kuwait-based company that owns the building, decided not to renew its contract with Starwood Hotel and Resorts Worldwide, which is an American firm that manages Sheraton hotels globally.
Subsequently, ASE signed a deal with Mövenpick Hotels and Resorts, an international hotel chain based in Switzerland, which is set to spend well over Rs3.1 billion in the next few years to renovate the structure.
The announcement was made at a press conference addressed by Andreas Matmüller, who serves as chief operating officer for the Middle East and Asia operations of Mövenpick Hotels and Resorts, along with ASE CEO Sikander Mahmood and Mirza Mansoor Ahmad, the hotel’s general manager.
“We understand the 32-year legacy of this hotel. The renovation plan will usher in a new and exciting phase of the hotel and add value to the service and product quality while preserving the soul of the property,” said Matmüller.
“These are exciting times for Mövenpick Hotels and Resorts and we look forward to building on our reputation of quality, reliability and care with a personal touch in Pakistan,” he noted, adding the company plans to set up new hotels in other Pakistani cities, including Lahore, in the future.
The renovation of the property will be undertaken in phases, he said, with the first phase to start immediately. This includes renovation of the ground floor, entry points, restaurants and public areas. However, the hotel will not be closed for renovation at any point in time, he said.
The several stages of the refurbishment will overlap over the next two years and cover almost 100% of the hotel, thus giving it a new look. “The renovation of the hotel’s suites and rooms, mezzanine level restaurants, meeting rooms, the ballroom, the makeover of the building facade and landscaping are part of the project,” he said.
Replying to a question, the hotel’s general manager said there have been no layoffs since the management change one month ago. “We’re continuing with the same team and the turnover has been very, very low,” he said.
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