Archive

Reuters blog archive

from India Insight:

Interview: DC Design mulls IPO to raise up to $24 million in 2014

Photo

Indian automotive design and modification firm DC Design is considering an initial public offering this year to raise about 1 billion to 1.5 billion rupees ($16 million-$24 million) to expand its operations, its founder said in an interview on Wednesday.

The company would consider filing for an IPO among other ways to raise capital after its Avanti supercar goes on sale later this year, Dilip Chhabria told India Insight at the Delhi Auto Expo in Greater Noida.

“So far we have somehow managed, but really we want to exploit the full potential of our brand, capability and market segmentation, then obviously we have to have access to capital,” Chhabria said ahead of his two new car launches.

It is not the first time that Chhabria has talked about going public. United News of India reported in 2000 that he was planning an IPO, and the Economic Times reported in 2004 that he was planning to take the company public by 2007.

from Photographers' Blog:

Bureaucrats in a conflict zone

Photo

Bangui, Central African Republic

By Joe Penney

On Thursday, the volatile Central African Republic was host to a bloodbath. Hours of fighting between the former “Seleka” rebels that took power in a March coup d’etat and local militia and fighters loyal to the deposed president, Francois Bozize, killed over a hundred. As the situation continues to deteriorate, France is set to take a bigger role in its former colony’s security, sending hundreds of troops in the coming days.

Yet while security is what is grabbing the headlines at the moment, CAR’s problems lie much deeper. Already an unstable state in the run-up to the coup, the Central African government is now in tatters and just going through the motions. During the coup, most ministry buildings were looted for cash, computers and anything hungry rebels could get their hands on. Little has since been replaced.

from Photographers' Blog:

Home is where the Beetle is

Photo

Monterrey, Mexico

By Daniel Becerril

The need to find a place and make it your own is sometimes the only way to cope in a life full of surprises, hardship, sorrow and joy. It’s unbelievable how humans are capable of accommodating themselves in any space and under any circumstances.

I first heard of Oscar Almaguer, or Don Oscar, on a local TV program. It was the story of an 83-year-old man who had been living in a battered VW Beetle for the last 10 years. Don Oscar’s story was the perfect one to show life’s full range of social complexities and I thought it would definitively make an interesting picture story.

from Global Investing:

Korean exporters’ yen nightmare (corrected)

Photo

(corrects name of hedge fund in para 3 to Symphony Financial Partners)

Any doubt about the importance of a weaker yen in thawing the frozen Japanese economy will have been dispelled by the Nikkei's surge to 32-month highs this week. Since early December, when it became clear an incoming Shinzo Abe administration would do its best to weaken the yen, the equity index has surged as the yen has fallen.

Those moves are giving sleepless nights to Japan's neighbours who are watching their own currencies appreciate versus the yen. South Korean companies, in particular, from auto to electronics manufacturers, must be especially worried. They had a fine time in recent years  as the yen's strength since 2008 allowed them to gain market share overseas. But since mid-2012, the won has appreciated 22 percent versus the yen.  In this period, MSCI Korea has lagged the performance of MSCI Japan by 20 percent. Check out the following graphic from my colleague Vincent Flasseur (@ReutersFlasseur)

from Fan Fare:

Another Charlie Sheen car over the cliff

Photo

Another day.  Another pricey Charlie Sheen car ends up wrecked at the bottom of a Los Angeles canyon.  And another mystery heist.

charlie sheen2010

It's the second time in five months that one of the "Two and a Half Men" star's luxury cars has been driven out of the actor's gated community in the middle of the night (without anyone apparently seeing anything suspicious)  and been driven off the side of  famed Mulholland Drive.

from India Insight:

Recall virus dims Maruti A-Star lustre

Photo

No. 1 Indian carmaker Maruti Suzuki's recall of its best-selling A-Star vehicles may not cost the company much financially, but sure raises questions about the procedures followed by the company for disclosing such information to investors.

Maruti A-StarThe company says the recall of 100,000 cars began in November, but did not disclose the move until late February.

from Your View:

Work or play? Kids helping to clear snow

Photo

A group of Brooklyn kids help their Dad clear snow out from around their car after the December 19th snow storm.  Your View/Matthew Schrack

from Changing China:

China: Green or Gray?

Photo

                   

As Copenhagen's climate talks draw near, more and more critics are turning to the world's biggest emitter of greenhouse gases and asking how much damage has been done and what is being done about it?

China's booming double-digit growth came with a price. Coal, the dirtiest of the fossil fuels produces 80 percent of the country's energy. But China says change is already well underway. The government recently announced that it aims to cut 2005 carbon intensity levels by 40-45 percent by 2020.

from India Insight:

It’s raining compact cars in India

Photo

Honda's premium hatchback Jazz has just added to the flurry of four-wheelers crowding the ramp in the compact car segment.Indian market leader Maruti has been in the forefront here, following up its launch of the A-Star in 2008 with the Ritz (see photo) this year.This week, Fiat launched the Grande Punto, another compact car.This segment already has cars such as the hugely popular Swift, Swift D'Zire (all from the Maruti stable), the i10, i20 and Getz from Hyundai, Chevrolet's Spark, etc.There are more in the pipeline with Skoda Auto's new Fabia expected later this year and Volkswagen's Polo in early 2010.And there is room for more.Auto expert Hormazd Sorabjee thinks this segment is fairly elastic and has the scope to absorb the supply."Of course there will be a lot of competition…they will eat into each other's share, but it will help to expand the market. And the competition is good."Around 75-80 percent of the cars sold in India are in the compact segment - where the price varies from about 350,000 rupees to about 700,000 rupees (the super-premium compact).Within this elastic price range, the category has the cars to suit all budgets.Maruti dominates the segment because of the number of brands it has.It would be difficult for other players to dethrone it mainly because the company has got a clear head start over the others and it has identified itself as more of an "Indian" company compared to them.Few people think about its Japanese parentage. It also has the advantage of having a wider service network than the other relatively recent entrants.What do you think? Which car can end Maruti's domination over the compact car segment in India?

from Fan Fare:

Robert Pattinson’s love affair with his old ride

Photo

     robert-pattinsonWhen 22-year-old actor Robert Pattinson emerged as a big star last year for playing an alluring vampire in "Twilight," he still drove an old beat-up BMW. 

    But he has now has leased a new car and moved on from his 20 year-old convertible BMW, whose dashboard had reportedly once caught fire while Pattinson was driving.

  •