A new portable scanner for detecting early signs of breast cancer has been developed at the University of Manchester by Professor Zhipeng Wu. The device works by radio frequency technology that can show the presence of tumors on an computer screen. The amazing thing is that it can show the image within seconds on the computer screen, rather than a x-ray mammography which takes minutes and can only be done at hospital or specialist care centers. This new technology can revolutionize the early detection for women with breast cancer.
Around the world, breast cancer comprises about ten percent of all cancer incidents for women. Breast cancer can be fatal, but there are different ways of treating it: surgery, hormone therapy, chemotherapy, and radiation. Unfortunately, according to statistics from 2004, breast cancer caused 519,000 deaths and accounted for one percent of all deaths worldwide. The key in beating the disease is to detect the cancer in its infant stage before it has a chance to grow.
Professor Wu, professor at the University's School of Electrical and Electronic Engineering, says that the new portable scanner can offer patients real-time video images that would clearly show the presence of any tumor. The new method would be much quicker and less intrusive. The device could be used at GP offices, reducing wait times and would allow patients to avoid costly and unnecessary mammographies. It can even be used at home.
The patented radio frequency technology uses computer tomography and works with the same technology as a mobile phone. The casing for the device is no larger than a bread basket, making it portable and low-cost.
Mammography, the standard detection for breast cancer, can give results up to 95 percent accuracy for women over 50, but is far less effective for younger women. For those under 50, it provides results that are only up to 60 percent accurate. However, it is at this age when detection is the most important. Thousands of lives could be saved if they are diagnosed and treated at an early stage.
While mammographies use density to detect the cancer, the new radio frequency technique works by detecting the dielectric contrasts between normal and affected breast tissues. The malignant tissue has a higher permittivity and conductivity to radio frequency, and will therefore show up differently (in red) on the scan.
It works instantly, as soon as the breasts are placed in the cup. 30 images can be scanned in real-time, in one second, making the process fast and painless. According to Professor Wu, "The real-time imaging minimizes the chance of missing a breast tumor during scanning. Other systems also need to use a liquid or gel as a matching substance, such as in an ultrasound, to work but with our system you don't need that — it can be done simply in oil, milk, water or even with a bra on."
Professor Wu has submitted his innovation to the IET Innovation Awards under the Electronics category. The winners will be announced this November.
Friday, October 29, 2010
Wednesday, October 27, 2010
Beach garbage recycled — as vacuum cleaners
There's a story behind the blue, white and green plastic covering the surface of the Pacific Ocean vacuum cleaner. They're tiny bits of plastic collected from one of Hawaii's dirtiest beaches, Kahuku, where waves dump trash from the Pacific all day long.
The machine made by Electrolux AB is fully functional and can suck up dirt from a rug like any other vacuum. But the company said it wants the device to serve as an object that provokes a conversation about the large volumes of plastic trash that are polluting the world's oceans.
The Stockholm-based company has also made four other vacuums, each from plastic trash collected in the Indian Ocean and the Mediterranean, North and Baltic seas. None of the five are for commercial sale.
Cecilia Nord, vice president for sustainability and environmental affairs at Electrolux's floor care and small appliances division, said many groups are doing their best to clean the ocean and beaches of plastic.
But the problem keeps growing because people continue to consume more plastic without recycling it afterward, she said.
"We — as a big manufacturer with a global reach — can start a debate and hopefully can contribute to addressing the root cause," Nord said.
Electrolux received its Pacific Ocean plastic from a Hawaii-based volunteer group that cleans up Kahuku beach once a week. The remote shoreline is one of Oahu's dirtiest, in part because current flows tend to deposit trash on that side of the island.
"We can be there on any day and see it coming in on each wave," said Suzanne Frazer, president and co-founder of Beach Environmental Awareness Campaign Hawaii.
Watch online series on eco-entrepreneurs
Garbage also quickly accumulates at Kahuku because the beach is behind two private properties and can't be easily visited by beachgoers who pick up trash on Hawaii's more populated shorelines every day.
Plastic breaks down into smaller pieces slowly over time but doesn't ever completely disappear. In the ocean, currents carry the small bits to areas where massive gyres of plastic garbage have formed.
One spot between Hawaii and California the size of Texas has been dubbed the "Great Pacific Garbage Patch." Researchers recently found a similar plastic trash gyre in the Atlantic between Bermuda and Portugal's Azores islands.
Seabirds eat the plastic bits — particularly ones that are a bright red or orange — thinking they're squid, fish eggs or other food.
Some Laysan albatross, a seabird that nests at Midway atoll northwest of the main Hawaiian islands, die of starvation with their stomachs full of plastic.
Electrolux's Pacific vacuum has only a few red or orange pieces because marine animals have eaten most of the brightly colored plastic trash pieces before they wash ashore.
Carey Morishige, outreach coordinator for the marine debris program at the National Oceanic and Atmospheric Administration, said people should use less plastic and reuse and recycle what they do use.
"If it's still going in, we're still going to have to clean it up," Morishige said. "The ultimate solution is going to be in stopping this stuff from getting into the ocean in the first place."
The machine made by Electrolux AB is fully functional and can suck up dirt from a rug like any other vacuum. But the company said it wants the device to serve as an object that provokes a conversation about the large volumes of plastic trash that are polluting the world's oceans.
The Stockholm-based company has also made four other vacuums, each from plastic trash collected in the Indian Ocean and the Mediterranean, North and Baltic seas. None of the five are for commercial sale.
Cecilia Nord, vice president for sustainability and environmental affairs at Electrolux's floor care and small appliances division, said many groups are doing their best to clean the ocean and beaches of plastic.
But the problem keeps growing because people continue to consume more plastic without recycling it afterward, she said.
"We — as a big manufacturer with a global reach — can start a debate and hopefully can contribute to addressing the root cause," Nord said.
Electrolux received its Pacific Ocean plastic from a Hawaii-based volunteer group that cleans up Kahuku beach once a week. The remote shoreline is one of Oahu's dirtiest, in part because current flows tend to deposit trash on that side of the island.
"We can be there on any day and see it coming in on each wave," said Suzanne Frazer, president and co-founder of Beach Environmental Awareness Campaign Hawaii.
Watch online series on eco-entrepreneurs
Garbage also quickly accumulates at Kahuku because the beach is behind two private properties and can't be easily visited by beachgoers who pick up trash on Hawaii's more populated shorelines every day.
Plastic breaks down into smaller pieces slowly over time but doesn't ever completely disappear. In the ocean, currents carry the small bits to areas where massive gyres of plastic garbage have formed.
One spot between Hawaii and California the size of Texas has been dubbed the "Great Pacific Garbage Patch." Researchers recently found a similar plastic trash gyre in the Atlantic between Bermuda and Portugal's Azores islands.
Seabirds eat the plastic bits — particularly ones that are a bright red or orange — thinking they're squid, fish eggs or other food.
Some Laysan albatross, a seabird that nests at Midway atoll northwest of the main Hawaiian islands, die of starvation with their stomachs full of plastic.
Electrolux's Pacific vacuum has only a few red or orange pieces because marine animals have eaten most of the brightly colored plastic trash pieces before they wash ashore.
Carey Morishige, outreach coordinator for the marine debris program at the National Oceanic and Atmospheric Administration, said people should use less plastic and reuse and recycle what they do use.
"If it's still going in, we're still going to have to clean it up," Morishige said. "The ultimate solution is going to be in stopping this stuff from getting into the ocean in the first place."
Tuesday, October 26, 2010
U.S. Solar Market to Grow 42% Annually
The U.S. solar market for photovoltaic and solar thermal electricity generation is projected to grow annually by 42 percent to reach 44 gigawatts (GW) by 2020 as long as the industry can attract $100 billion worth of investment, according to a report from Bloomberg New Energy Finance. The market researcher expects rapidly declining equipment costs combined with stronger government support to spur growth over the next decade.
The report also finds that high electricity prices and generous incentives are two of the biggest factors behind the market’s growth in the U.S.
The report, “Quantifying the US solar market: system returns and new build projections,” finds that solar-powered generating capacity — using photovoltaic and solar thermal electricity technologies — could reach 4.3 percent of the nation’s power capacity by 2020.
Today, the U.S. has 1.4 gigawatts of installed solar power capacity, ranking it fifth globally, according to the report. The forecast capacity from large-scale solar thermal projects is projected to rise from 0.4 gigawatts currently to 14 gigawatts by 2020. Photovoltaics is expected to achieve a 34 percent annual growth rate, reaching 30 gigawatts by 2020.
While the report indicates that the cost of a typical photovoltaic module has dropped by more than half over the past two years, solar power is still more expensive than other power sources. As an example, the unsubsidized cost of best-in-class photovoltaic and solar thermal electricity generation is just below $200/megawatt-hour — nearly four times the equivalent cost for a coal-fired power plant ($56/megawatt-hour) — and between two and four times the cost of onshore wind power, says the market research company.
The report expects that policy measures such as tax credits, capital expenditure grants, generation incentives and renewable electricity credits will be key drivers behind solar growth at least over the next three years.
The report also projects that the commercial sector will lead the way with around half of all photovoltaic installations between now and 2020, with utility and residential systems contributing one-quarter of future installations.
Taking into account incentives currently available, researchers estimate that commercial-scale photovoltaic systems can obtain unlevered returns of 8-14 percent in states such as Hawaii, Texas, New Jersey, and Massachusetts.
Two recent solar installations, adding to the solar portfolio in the U.S., include Del Mar Farms and Allsteel.
Del Mar Farms has activated its 354-kW photovoltaic (PV) system, which is expected to generate more than 660,000 kilowatt hours per year and pay for itself in about four years. The roof-mounted solar power system is spread across three buildings and offsets Del Mar’s main energy meter by more than 90 percent. Cenergy Power designed and installed the system.
Allsteel recently installed 42 solar panels on the roof of its 200,000-square-ft. plant in Muscatine, Iowa, which is expected to generate between 10,000-13,000 kilowatts of energy each year, reports Quad-City Times. The solar installation is estimated to prevent the emissions of 37,000 pounds of carbon dioxide, and help the company reach its goal of reducing energy consumption by 5 percent each year.
The report also finds that high electricity prices and generous incentives are two of the biggest factors behind the market’s growth in the U.S.
The report, “Quantifying the US solar market: system returns and new build projections,” finds that solar-powered generating capacity — using photovoltaic and solar thermal electricity technologies — could reach 4.3 percent of the nation’s power capacity by 2020.
Today, the U.S. has 1.4 gigawatts of installed solar power capacity, ranking it fifth globally, according to the report. The forecast capacity from large-scale solar thermal projects is projected to rise from 0.4 gigawatts currently to 14 gigawatts by 2020. Photovoltaics is expected to achieve a 34 percent annual growth rate, reaching 30 gigawatts by 2020.
While the report indicates that the cost of a typical photovoltaic module has dropped by more than half over the past two years, solar power is still more expensive than other power sources. As an example, the unsubsidized cost of best-in-class photovoltaic and solar thermal electricity generation is just below $200/megawatt-hour — nearly four times the equivalent cost for a coal-fired power plant ($56/megawatt-hour) — and between two and four times the cost of onshore wind power, says the market research company.
The report expects that policy measures such as tax credits, capital expenditure grants, generation incentives and renewable electricity credits will be key drivers behind solar growth at least over the next three years.
The report also projects that the commercial sector will lead the way with around half of all photovoltaic installations between now and 2020, with utility and residential systems contributing one-quarter of future installations.
Taking into account incentives currently available, researchers estimate that commercial-scale photovoltaic systems can obtain unlevered returns of 8-14 percent in states such as Hawaii, Texas, New Jersey, and Massachusetts.
Two recent solar installations, adding to the solar portfolio in the U.S., include Del Mar Farms and Allsteel.
Del Mar Farms has activated its 354-kW photovoltaic (PV) system, which is expected to generate more than 660,000 kilowatt hours per year and pay for itself in about four years. The roof-mounted solar power system is spread across three buildings and offsets Del Mar’s main energy meter by more than 90 percent. Cenergy Power designed and installed the system.
Allsteel recently installed 42 solar panels on the roof of its 200,000-square-ft. plant in Muscatine, Iowa, which is expected to generate between 10,000-13,000 kilowatts of energy each year, reports Quad-City Times. The solar installation is estimated to prevent the emissions of 37,000 pounds of carbon dioxide, and help the company reach its goal of reducing energy consumption by 5 percent each year.
DOT, EPA Set Nation’s First GHG, Fuel Efficiency Standards for Trucks, Buses
The U.S. Environmental Protection Agency (EPA) and the U.S. Department of Transportation (DOT) have unveiled the first national standards to reduce greenhouse gas (GHG) emissions and improve fuel efficiency of heavy-duty trucks and buses. The new proposed standards are for three categories of heavy trucks: combination tractors, heavy-duty pickups and vans, and vocational vehicles.
The EPA and DOT sent draft rules to the White House in August.
The program, proposed by EPA and DOT’s National Highway Traffic Safety Administration (NHTSA), is projected to reduce GHG emissions by about 250 million metric tons and save 500 million barrels of oil over the lives of the vehicles produced within the program’s first five years.
For combination tractors, the agencies propose engine and vehicle standards that begin in the 2014 model year and achieve up to a 20 percent reduction in carbon dioxide (CO2) emissions and fuel consumption by 2018 model year.
For heavy-duty pickup trucks and vans, the proposal calls for separate gasoline and diesel truck standards, which phase in starting with 2014 model year and cut emissions and fuel consumption 10 percent for gasoline vehicles and 15 percent for diesel vehicles by 2018 model year (12 and 17 percent respectively if accounting for air conditioning leakage).
For vocational vehicles, the agencies propose engine and vehicle standards starting in 2014 model year, which would reduce CO2 emissions and fuel consumption 10 percent by 2018 model year.
Overall, the heavy-duty national program would provide $41 billion in net benefits over the lifetime of model year 2014 to 2018 vehicles, together with the potential for fuel efficiency gains, ranging from seven to 20 percent.
There is a 60-day comment period that begins when the proposal is published in the Federal Register.
While a host of companies including Navistar and Cummins and organizations such as ACEEE, Diesel Forum and the Engine Manufacturers Association have announced support for the proposed standard, some like ACEEE say the agencies have left some fuel-savings opportunities on the table.
“Setting fuel efficiency standards for trucks is a crucial step toward saving oil and reducing emissions from the transportation sector. And it will help keep down the price of goods that move by truck,” said Therese Langer, Director of ACEEE’s Transportation Program, in a statement.
Langer said a recent National Academy of Sciences study shows how long-haul tractor-trailers (the biggest diesel users) could reduce their fuel consumption by at least 35 percent by 2017, using measures that would pay for themselves in two years but the proposed rule calls for no more than 20 percent savings. “Trailers are not covered by the rule, even though improving trailers’ aerodynamics and tires alone could reduce fuel use by 10 percent,” she added, and “the program needs to do more to draw advanced technologies into the market.”
Allen Schaeffer, executive director of the non-profit Diesel Technology Forum said that many initial gains in fuel efficiency will come from improvements in the efficiency of the diesel engines including further advances in combustion efficiency, waste heat recovery, improved efficiency through advanced turbocharging and fuel injection. Other technologies such as lower rolling resistance tires and aerodynamics, and idle reduction strategies could also be used as part of a total vehicle approach, he added.
Schaeffer noted that some vehicles may be more appropriate for some solutions than others. As an example, long-haul trucks can benefit from aerodynamic improvements that cut vehicle drag and save fuel because they operate at higher average speeds, however, local pickup and delivery trucks would not benefit from aerodynamics but would benefit from increased use of hybrid powertrains because of the stop and go nature of their operations, he added.
The Engine Manufacturers Association (EMA) and Truck Manufacturers Association (TMA) also announced their support for a single national GHG reduction and fuel efficiency improvement program.
The associations said they will review the proposal, submit comments as part of the public participation process and work with EPA, NHTSA, and other stakeholders to ensure that an implementable rule is finalized on schedule.
A few companies already are pledging to work with the EPA and DOT to implement the proposed changes.
Navistar said it will work closely with the EPA and DOT to ensure this program expands the use of existing technologies to reduce CO2 emissions, improve overall fuel efficiency, and to properly incentivize the early introduction of advanced technologies.
“While it’s too soon to evaluate all elements of the proposed regulations, we are committed to engaging with the EPA and DOT on this issue. We look forward to working together with government and industry leaders in the months ahead to implement changes that will benefit the customers and communities we serve with cleaner, more fuel efficient commercial vehicles,” said Daniel C. Ustian, Navistar chairman, president and chief executive officer, in a statement.
Cummins, which already has made some advances in clean diesel technology, also supports the new standards.
“For some time now, Cummins has advocated for consistent and responsible regulations that recognize the needs of business, offer clear direction and provide incentives to companies that create innovative technologies as well as jobs in this country,” said Rich Freeland, president, Cummins Engine Business, in a statement. “Such regulations also add real value to our customers, as better fuel economy lowers their operating costs while significantly benefiting the environment. We look forward to working with the EPA, DOT and other stakeholders in developing the final rule.”
The EPA and DOT sent draft rules to the White House in August.
The program, proposed by EPA and DOT’s National Highway Traffic Safety Administration (NHTSA), is projected to reduce GHG emissions by about 250 million metric tons and save 500 million barrels of oil over the lives of the vehicles produced within the program’s first five years.
For combination tractors, the agencies propose engine and vehicle standards that begin in the 2014 model year and achieve up to a 20 percent reduction in carbon dioxide (CO2) emissions and fuel consumption by 2018 model year.
For heavy-duty pickup trucks and vans, the proposal calls for separate gasoline and diesel truck standards, which phase in starting with 2014 model year and cut emissions and fuel consumption 10 percent for gasoline vehicles and 15 percent for diesel vehicles by 2018 model year (12 and 17 percent respectively if accounting for air conditioning leakage).
For vocational vehicles, the agencies propose engine and vehicle standards starting in 2014 model year, which would reduce CO2 emissions and fuel consumption 10 percent by 2018 model year.
Overall, the heavy-duty national program would provide $41 billion in net benefits over the lifetime of model year 2014 to 2018 vehicles, together with the potential for fuel efficiency gains, ranging from seven to 20 percent.
There is a 60-day comment period that begins when the proposal is published in the Federal Register.
While a host of companies including Navistar and Cummins and organizations such as ACEEE, Diesel Forum and the Engine Manufacturers Association have announced support for the proposed standard, some like ACEEE say the agencies have left some fuel-savings opportunities on the table.
“Setting fuel efficiency standards for trucks is a crucial step toward saving oil and reducing emissions from the transportation sector. And it will help keep down the price of goods that move by truck,” said Therese Langer, Director of ACEEE’s Transportation Program, in a statement.
Langer said a recent National Academy of Sciences study shows how long-haul tractor-trailers (the biggest diesel users) could reduce their fuel consumption by at least 35 percent by 2017, using measures that would pay for themselves in two years but the proposed rule calls for no more than 20 percent savings. “Trailers are not covered by the rule, even though improving trailers’ aerodynamics and tires alone could reduce fuel use by 10 percent,” she added, and “the program needs to do more to draw advanced technologies into the market.”
Allen Schaeffer, executive director of the non-profit Diesel Technology Forum said that many initial gains in fuel efficiency will come from improvements in the efficiency of the diesel engines including further advances in combustion efficiency, waste heat recovery, improved efficiency through advanced turbocharging and fuel injection. Other technologies such as lower rolling resistance tires and aerodynamics, and idle reduction strategies could also be used as part of a total vehicle approach, he added.
Schaeffer noted that some vehicles may be more appropriate for some solutions than others. As an example, long-haul trucks can benefit from aerodynamic improvements that cut vehicle drag and save fuel because they operate at higher average speeds, however, local pickup and delivery trucks would not benefit from aerodynamics but would benefit from increased use of hybrid powertrains because of the stop and go nature of their operations, he added.
The Engine Manufacturers Association (EMA) and Truck Manufacturers Association (TMA) also announced their support for a single national GHG reduction and fuel efficiency improvement program.
The associations said they will review the proposal, submit comments as part of the public participation process and work with EPA, NHTSA, and other stakeholders to ensure that an implementable rule is finalized on schedule.
A few companies already are pledging to work with the EPA and DOT to implement the proposed changes.
Navistar said it will work closely with the EPA and DOT to ensure this program expands the use of existing technologies to reduce CO2 emissions, improve overall fuel efficiency, and to properly incentivize the early introduction of advanced technologies.
“While it’s too soon to evaluate all elements of the proposed regulations, we are committed to engaging with the EPA and DOT on this issue. We look forward to working together with government and industry leaders in the months ahead to implement changes that will benefit the customers and communities we serve with cleaner, more fuel efficient commercial vehicles,” said Daniel C. Ustian, Navistar chairman, president and chief executive officer, in a statement.
Cummins, which already has made some advances in clean diesel technology, also supports the new standards.
“For some time now, Cummins has advocated for consistent and responsible regulations that recognize the needs of business, offer clear direction and provide incentives to companies that create innovative technologies as well as jobs in this country,” said Rich Freeland, president, Cummins Engine Business, in a statement. “Such regulations also add real value to our customers, as better fuel economy lowers their operating costs while significantly benefiting the environment. We look forward to working with the EPA, DOT and other stakeholders in developing the final rule.”
Monday, October 25, 2010
India Warned Over Capital Inflow Risks
Economists are warning that New Delhi may be underestimating the risks of excessive capital inflows, as huge foreign portfolio investment into India has helped push both the stock market and the rupee to pre-crisis levels.
Since January, India’s equity and bond markets have attracted a record $33.8bn in foreign funds on the back of the country’s robust economy, which grew 8.8 percent year-on-year in the second quarter. However, during the same period foreign direct investment – which tends to be more long-term than inflows into the stock market – dropped 35 percent, down to Rs637bn ($14.4bn) from Rs976bn.
Neil Beer | Photodisc | Getty Images
--------------------------------------------------------------------------------
“India’s dependence on foreign capital to grow its economy is a limiting factor,” said Ridham Desai, India equity strategist for Morgan Stanley. “What seems more critical to us is the mix of capital flows, which still are skewed toward capital market sources rather than foreign direct investment.”
A string of multibillion-dollar state-run IPOs, which will follow Coal India’s $3.5bn offering, is expected to attract further foreign capital, raising new concerns that the economy is overheating.
“Today there are several indicators that suggest that the economy is moving towards the overheating zone,” said Sonal Varma, chief India economist for Nomura. “We are not quite there but we should be vigilant.”
India’s emerging market peers, including Brazil, Indonesia, South Korea, Taiwan and Thailand, have taken some measures to curb foreign capital inflows and are acting to suppress resulting currency appreciations.
In the past month the Indian rupee [INR=X 44.25 -0.10 (-0.23%) ] has risen nearly 5 percent against the U.S. dollar. Last week the currency reached its highest level since the global financial crisis, hitting Rs44.11 against the dollar.
Yet despite the stronger rupee, India has decided to wait, as policymakers weigh up the pros and cons of allowing more “hot money” into Asia’s third-largest economy.
Some analysts believe that the government can absorb the extra liquidity given a widening current account deficit, which is estimated to be at about 3 percent of gross domestic product this fiscal year.
"The broader risk is that these bubbles are often fuelled by easier access to credit and if the bubbles burst it will have a negative impact on the entire banking sector."
Sonal Varma
Chief India Economist, Nomura
“At the moment the country needs the extra inflows to fund its deficit,” said Rashesh Shah, chairman of Edelweiss, a financial services group.
However, more cautious economists warn that the bounty of foreign cash could lead to unintended consequences, as a sharp reversal of capital inflows could negatively affect the country’s overall balance of payments.
“The government’s over-reliance on one-off sales of state-owned assets and the rising influx of foreign capital to fund its deficit is not healthy for the economy,” said A. Prasanna, chief economist at ICICI Securities. “These extra [foreign] funds could dry up from one moment to the other.”
The entry of short-term and volatile investments should be a prime concern for the government, according to Ms Varma.
“When you get too many inflows your asset classes start heating up and that leads to asset price bubbles,” she said. “The broader risk is that these bubbles are often fuelled by easier access to credit and if the bubbles burst it will have a negative impact on the entire banking sector.”
New Delhi said it was aware of the risks and had been playing down economists’ concerns. The country’s septuagenarian finance minister, Pranab Mukherjee, says that “there is nothing unusual about capital inflows … We have not reached the stage where the panic button needs to be pressed.”
Since January, India’s equity and bond markets have attracted a record $33.8bn in foreign funds on the back of the country’s robust economy, which grew 8.8 percent year-on-year in the second quarter. However, during the same period foreign direct investment – which tends to be more long-term than inflows into the stock market – dropped 35 percent, down to Rs637bn ($14.4bn) from Rs976bn.
Neil Beer | Photodisc | Getty Images
--------------------------------------------------------------------------------
“India’s dependence on foreign capital to grow its economy is a limiting factor,” said Ridham Desai, India equity strategist for Morgan Stanley. “What seems more critical to us is the mix of capital flows, which still are skewed toward capital market sources rather than foreign direct investment.”
A string of multibillion-dollar state-run IPOs, which will follow Coal India’s $3.5bn offering, is expected to attract further foreign capital, raising new concerns that the economy is overheating.
“Today there are several indicators that suggest that the economy is moving towards the overheating zone,” said Sonal Varma, chief India economist for Nomura. “We are not quite there but we should be vigilant.”
India’s emerging market peers, including Brazil, Indonesia, South Korea, Taiwan and Thailand, have taken some measures to curb foreign capital inflows and are acting to suppress resulting currency appreciations.
In the past month the Indian rupee [INR=X 44.25 -0.10 (-0.23%) ] has risen nearly 5 percent against the U.S. dollar. Last week the currency reached its highest level since the global financial crisis, hitting Rs44.11 against the dollar.
Yet despite the stronger rupee, India has decided to wait, as policymakers weigh up the pros and cons of allowing more “hot money” into Asia’s third-largest economy.
Some analysts believe that the government can absorb the extra liquidity given a widening current account deficit, which is estimated to be at about 3 percent of gross domestic product this fiscal year.
"The broader risk is that these bubbles are often fuelled by easier access to credit and if the bubbles burst it will have a negative impact on the entire banking sector."
Sonal Varma
Chief India Economist, Nomura
“At the moment the country needs the extra inflows to fund its deficit,” said Rashesh Shah, chairman of Edelweiss, a financial services group.
However, more cautious economists warn that the bounty of foreign cash could lead to unintended consequences, as a sharp reversal of capital inflows could negatively affect the country’s overall balance of payments.
“The government’s over-reliance on one-off sales of state-owned assets and the rising influx of foreign capital to fund its deficit is not healthy for the economy,” said A. Prasanna, chief economist at ICICI Securities. “These extra [foreign] funds could dry up from one moment to the other.”
The entry of short-term and volatile investments should be a prime concern for the government, according to Ms Varma.
“When you get too many inflows your asset classes start heating up and that leads to asset price bubbles,” she said. “The broader risk is that these bubbles are often fuelled by easier access to credit and if the bubbles burst it will have a negative impact on the entire banking sector.”
New Delhi said it was aware of the risks and had been playing down economists’ concerns. The country’s septuagenarian finance minister, Pranab Mukherjee, says that “there is nothing unusual about capital inflows … We have not reached the stage where the panic button needs to be pressed.”
Rainbow Warrior ordered out of Indonesia - rainforest destruction allowed to stay
Being a part of a Greenpeace ship tour is never boring. Generally, you expect the unexpected, and then you're surprised. But even by ship tour standards, the Rainbow Warrior's recent 'tour' of Indonesia was an interesting one.
It started with high hopes that our peaceful campaigning ship would be able to support the Indonesian president's stated aims of ending deforestation in Indonesia. It ended with the Rainbow Warrior being denied vital supplies and being ordered - and escorted - out of Indonesian waters and well into international waters by two navy vessels, in breach of international maritime law.
Amrit, a deckhand from India on board the Rainbow Warrior, explains what happened:
The Rainbow Warrior II was supposed to dock in Jakarta on the 13th of October. We were hoping to be visited by high level officials from Indonesia. However, none of it ever happened. On October 13 we were told by the port control of Indonesia that we weren't allowed to enter due to lack of permission. It was a bit surprising, but we were not too alarmed.
However as the days progressed, it seemed likely that there was more willingness to keep us out of Indonesia than get us into it. The ship apparently had to get permission from the Ministry of External Affairs, which was being pondered over. They pondered over and over and over. Today is the 21st of October and they are still pondering. Meanwhile, rainforests keep on being destroyed.
We were running out of food (environmental activists have a rather good appetite, you know). So, on the 20th of October we were told we could approach the port and take food supplies (by boat). The government had apparently allowed us to enter the anchorage and resupply. Walter, our excellent cook, had big dreams of tomatoes and vegetables and curry and soup, which were shattered by two Indonesian navy vessels on the horizon. If only the government could act as quickly on stopping deforestation as they did in getting the navy ships to visit us.
The Warrior was coming here to promote solutions to deforestation and climate change; Indonesia's forests are disappearing at one of the world's fastest rates, making it the world's third largest emitter of greenhouse gases, after the US and China.
There was no reason to suspect she wouldn't be allowed in. Until now, Greenpeace's ships have always been allowed into the country. Five years ago, the Rainbow Warrior was here assisting in the tsunami relief effort with MSF, captained by the same captain who's now been ordered out of Indonesia under military escort.
What's more, just a few months ago, Indonesia's President Yudhoyono said he welcomed working in partnership with non-governmental organisations, including Greenpeace, to end deforestation. And he recently announced a two year moratorium on forest destruction in Indonesia as part of a US $1 billion deal with Norway, which could create the single largest climate mitigation and adaptation project in the world - if successful.
We are campaigning to make sure the deal succeeds, that it includes the millions of hectares of rainforests and carbon-rich peatlands that have already been parcelled out for logging, and not just new logging concessions. In short, we're campaigning alongside Indonesian NGOs and civil society for a new green development pathway and zero deforestation in Indonesia by 2015.
So why wasn't the Rainbow Warrior let in? The honest answer is that we don't know, for sure. The government has given us no official reason.
But we do know that we've been working - with significant success - to expose the rapid expansion of the palm oil and pulp and paper sectors into Indonesia's rainforests and carbon-rich peatlands. And we do know that the notorious forest-destroyer, Sinar Mas, is expanding its plantations while claiming that it does not destroy forests.
So it seems very possible that there are some things that short-sighted political and economic interests did not want us - or you - to see, and that Indonesia's government capitulated to these vested interests.
We did see it though. Last weekend, a Greenpeace team flew over Sumatra to bear witness to the forest destruction first hand. As you'll see, the destruction of Indonesia's rainforests and carbon-rich peatlands is real and very much ongoing:
If you'd like to help our campaign to stop the destruction of Indonesia's rainforests and carbon-rich peatlands - which also means the destruction of habitats for endangered species like the orang-utan and the Sumatran tiger, of the homes and livelihoods of indigenous communities and of the global climate - the best thing you can do right now is to share this photo essay: help us to get the word out about the ongoing rainforest destruction that Sinar Mas doesn't want you to know about.
I'll leave you with some words from Von Hernandez, Greenpeace South East Asia's Executive Director, on the Rainbow Warrior's hasty ejection from Indonesia, sent as an open letter to Indonesia's Ministry of Foreign Affairs:
The Rainbow Warrior is a peaceful environmental campaigning vessel. She has been sailing for Greenpeace for the past 21 years and is known for being a vital part of our work to promote environmental protection in every region of the world.
Alarming for us are developments this morning, when our ship agent was prevented from delivering emergency food and provisions to our crew by the Indonesian Navy. This runs counter to the spirit and intent of existing international maritime agreements which seek to provide welfare and services for all seafarers irrespective of nationality, religion, political opinion or social origin. As a democratic country, we find it disturbing that the Indonesian government has chosen to adopt this unreasonably uncompromising and inflexible stance against our campaigning vessel and her crew...
We regret that our campaign to support the achievement of President Yudhoyono's vision with the help of the Rainbow Warrior II is being set aside seemingly in favour of short-sighted political and economic interests. Aside from signifying the government's capitulation to these vested interests, the government's refusal in allowing entry for the Rainbow Warrior casts a dark shadow on Indonesia's reputation as a robust and genuine democracy where peaceful freedom of expression is observed and guaranteed. Worse, given the Rainbow Warrior's strong track record in environmental campaigning, the government's stance serves to fuel concerns that the permitting system is being abused to serve the interests of those who stand to gain from the destruction of the environment.
It started with high hopes that our peaceful campaigning ship would be able to support the Indonesian president's stated aims of ending deforestation in Indonesia. It ended with the Rainbow Warrior being denied vital supplies and being ordered - and escorted - out of Indonesian waters and well into international waters by two navy vessels, in breach of international maritime law.
Amrit, a deckhand from India on board the Rainbow Warrior, explains what happened:
The Rainbow Warrior II was supposed to dock in Jakarta on the 13th of October. We were hoping to be visited by high level officials from Indonesia. However, none of it ever happened. On October 13 we were told by the port control of Indonesia that we weren't allowed to enter due to lack of permission. It was a bit surprising, but we were not too alarmed.
However as the days progressed, it seemed likely that there was more willingness to keep us out of Indonesia than get us into it. The ship apparently had to get permission from the Ministry of External Affairs, which was being pondered over. They pondered over and over and over. Today is the 21st of October and they are still pondering. Meanwhile, rainforests keep on being destroyed.
We were running out of food (environmental activists have a rather good appetite, you know). So, on the 20th of October we were told we could approach the port and take food supplies (by boat). The government had apparently allowed us to enter the anchorage and resupply. Walter, our excellent cook, had big dreams of tomatoes and vegetables and curry and soup, which were shattered by two Indonesian navy vessels on the horizon. If only the government could act as quickly on stopping deforestation as they did in getting the navy ships to visit us.
The Warrior was coming here to promote solutions to deforestation and climate change; Indonesia's forests are disappearing at one of the world's fastest rates, making it the world's third largest emitter of greenhouse gases, after the US and China.
There was no reason to suspect she wouldn't be allowed in. Until now, Greenpeace's ships have always been allowed into the country. Five years ago, the Rainbow Warrior was here assisting in the tsunami relief effort with MSF, captained by the same captain who's now been ordered out of Indonesia under military escort.
What's more, just a few months ago, Indonesia's President Yudhoyono said he welcomed working in partnership with non-governmental organisations, including Greenpeace, to end deforestation. And he recently announced a two year moratorium on forest destruction in Indonesia as part of a US $1 billion deal with Norway, which could create the single largest climate mitigation and adaptation project in the world - if successful.
We are campaigning to make sure the deal succeeds, that it includes the millions of hectares of rainforests and carbon-rich peatlands that have already been parcelled out for logging, and not just new logging concessions. In short, we're campaigning alongside Indonesian NGOs and civil society for a new green development pathway and zero deforestation in Indonesia by 2015.
So why wasn't the Rainbow Warrior let in? The honest answer is that we don't know, for sure. The government has given us no official reason.
But we do know that we've been working - with significant success - to expose the rapid expansion of the palm oil and pulp and paper sectors into Indonesia's rainforests and carbon-rich peatlands. And we do know that the notorious forest-destroyer, Sinar Mas, is expanding its plantations while claiming that it does not destroy forests.
So it seems very possible that there are some things that short-sighted political and economic interests did not want us - or you - to see, and that Indonesia's government capitulated to these vested interests.
We did see it though. Last weekend, a Greenpeace team flew over Sumatra to bear witness to the forest destruction first hand. As you'll see, the destruction of Indonesia's rainforests and carbon-rich peatlands is real and very much ongoing:
If you'd like to help our campaign to stop the destruction of Indonesia's rainforests and carbon-rich peatlands - which also means the destruction of habitats for endangered species like the orang-utan and the Sumatran tiger, of the homes and livelihoods of indigenous communities and of the global climate - the best thing you can do right now is to share this photo essay: help us to get the word out about the ongoing rainforest destruction that Sinar Mas doesn't want you to know about.
I'll leave you with some words from Von Hernandez, Greenpeace South East Asia's Executive Director, on the Rainbow Warrior's hasty ejection from Indonesia, sent as an open letter to Indonesia's Ministry of Foreign Affairs:
The Rainbow Warrior is a peaceful environmental campaigning vessel. She has been sailing for Greenpeace for the past 21 years and is known for being a vital part of our work to promote environmental protection in every region of the world.
Alarming for us are developments this morning, when our ship agent was prevented from delivering emergency food and provisions to our crew by the Indonesian Navy. This runs counter to the spirit and intent of existing international maritime agreements which seek to provide welfare and services for all seafarers irrespective of nationality, religion, political opinion or social origin. As a democratic country, we find it disturbing that the Indonesian government has chosen to adopt this unreasonably uncompromising and inflexible stance against our campaigning vessel and her crew...
We regret that our campaign to support the achievement of President Yudhoyono's vision with the help of the Rainbow Warrior II is being set aside seemingly in favour of short-sighted political and economic interests. Aside from signifying the government's capitulation to these vested interests, the government's refusal in allowing entry for the Rainbow Warrior casts a dark shadow on Indonesia's reputation as a robust and genuine democracy where peaceful freedom of expression is observed and guaranteed. Worse, given the Rainbow Warrior's strong track record in environmental campaigning, the government's stance serves to fuel concerns that the permitting system is being abused to serve the interests of those who stand to gain from the destruction of the environment.
LEED Roundup: Schneider, SKF, Legg Mason, MasterCard, Gordon and Betty Moore Foundation
Here’s the latest roundup of some of the most recent businesses and office buildings that have earned the U.S. Green Building Council’s Leadership in Energy and Environmental Design (LEED) certification. These include Schneider, SKF, Legg Mason, MasterCard, and the Gordon and Betty Moore Foundation.
Here are highlights for each LEED certification project.
Schneider Electric’s LaVergne facility has earned LEED Silver certification, with the help of many of the systems it designs and manufactures at the plant, reports The Daily News Journal. It is also the North America headquarters of Schneider Electric’s lighting and whole-home control business.
These systems include occupancy sensors, a schedule-based Powerlink lighting control system, and PowerLogic monitoring systems to establish an energy use baseline used to monitor and measure performance and help identify future opportunities for efficiency, according to the article.
In addition, Schneider installed its Andover Continuum building management system to enable the company to review real-time energy use and compare information regarding previously used energy.
Other sustainable features cited in the article for the 55,000-square-foot facility include the installation of bi-level and lower wattage lighting with occupancy sensors to reduce electricity consumption and LED exit lights, and use of sustainable construction materials including carpet and flooring made with recycled fiber, low-VOC paint, and wood products certified by the Forest Stewardship Council.
The company also installed water-conserving faucets and plumbing fixtures, which are estimated to save over 40 percent of the water used by conventional fixtures. The facility also implemented a “green” cleaning policy.
SKF USA is touted as the first commercial building in Pennsylvania to achieve Platinum level certification under LEED for Commercial Interiors and one of only 60 worldwide.
The company also announced plans to build a new $2-million rooftop solar panel project that is scheduled to be completed in April 2011. The state’s Commonwealth Financing Authority has approved a $346,000 Solar Energy Program Grant to help SKF finance the new project.
Here are several sustainable design and construction features included in the 117,000-square-foot headquarters facility: a geothermal heating/HVAC system, consisting of 112 500-foot deep wells that is expected to save more than 30 percent on heating and cooling costs, daylight harvesting combined with high efficiency lighting that saves 30 to 40 percent in lighting energy consumption over traditional lighting systems, and water-efficient fixtures that consume 44 percent less water than conventional fixtures, saving an estimated 278,000 gallons per year.
The project also used low emitting Greenguard quality refurbished furniture, Forest Stewardship Council-certified flooring and doors, and diverted 93 percent of waste materials from landfills. In addition, 90 percent of all furniture equipment in the Lansdale facility is Energy Star-rated including the fluorescent lights that use 75 percent less energy than incandescent fixtures.
Legg Mason’s Baltimore headquarters has earned LEED Gold certification for the space it occupies at Harbor East. The base building has achieved Silver certification.
Legg Mason’s Harbor East facility has installed low-flow water fixtures that reduce use by more than 20 percent and state-of-the-art video conferencing to reduce business travel.
The company also has invested in renewable energy that is equal to 100 percent of the electrical power that the facility uses. Nearly 30 percent of the total building materials content were manufactured using recycled materials and were sourced from local manufacturers where possible.
In addition, the facility’s open floorplan layouts and extensive use of glass allow more than 95 percent of all spaces to have a direct line of sight to the exterior, maximizing the use of natural light and reducing the need for electricity.
MasterCard Worldwide’s main technology campus in O’Fallon, Missouri, has achieved LEED Gold certification for Existing Buildings: Operations and Maintenance (LEED-EBOM).
The 550,000-square-foot MasterCard Technologies campus, which is the company’s largest facility and home to its main data center, is the first project in Missouri to earn LEED-EBOM Gold certification, according to the company.
Sustainable features and practices include the use of occupancy sensors, dual low-flush valves on toilets and urinals, roofing material with a high-reflectance value, Green Seal standard cleaning products, and an integrated pest-management program that focuses on environmentally friendly spray chemicals and traps.
The campus also recycles about 50 percent of waste by weight, including paper, cardboard, aluminum, plastic, glass, batteries, wood pallets, light bulbs, and kitchen cooking oil, while 100 percent of shredded documents are recycled. The facility also composts all non-protein and yard waste on site. It also has eliminated styrofoam and disposable plastic from the cafeteria and coffee kiosks.
The facility also uses restroom paper supplies containing post-consumer recycled content, and copy and printer paper that contains 30 percent post-consumer recycled content. Office furniture contains at least 10 percent post-consumer recycled content.
The Gordon and Betty Moore Foundation workplace has been awarded LEED Platinum certification, representing the eleventh project in California to be awarded the Platinum designation for Commercial Interiors (LEED-CI).
Energy-efficiency measures include a cool roof, window film, window shades, lighting controls, light harvesting, occupancy sensor operated emergency lighting in the stairwells, a new high efficiency boiler, Energy Star appliances and equipment, enhanced commissioning, and ongoing measurement and verification measures.
Indoor environmental quality was improved by providing access to natural light and views to everyone in the building, careful selection of materials and adhesives, increased ventilation, and the implementation of green cleaning protocols.
The project also achieved a construction waste diversion rate of more than 96 percent, and a regionally manufactured material total of 40.6 percent including all of the new conference tables and casework. Nearly 73 percent of all of the wood-based products used in the remodel are Forest Stewardship Council (FSC) certified. In addition, new and refurbished restroom cores cut water use by 37.4 percent.
The project also used bamboo and cork as a replacement for wood flooring and bamboo and Kirei (sorghum straw) board are used for casework. Plaster, recycled content carpet tile, no- and low-VOC paints, FSC wood, reclaimed timber, locally harvested wood from urban forestry sources, cotton insulation, and recycled glass tile also were used in the project.
Here are highlights for each LEED certification project.
Schneider Electric’s LaVergne facility has earned LEED Silver certification, with the help of many of the systems it designs and manufactures at the plant, reports The Daily News Journal. It is also the North America headquarters of Schneider Electric’s lighting and whole-home control business.
These systems include occupancy sensors, a schedule-based Powerlink lighting control system, and PowerLogic monitoring systems to establish an energy use baseline used to monitor and measure performance and help identify future opportunities for efficiency, according to the article.
In addition, Schneider installed its Andover Continuum building management system to enable the company to review real-time energy use and compare information regarding previously used energy.
Other sustainable features cited in the article for the 55,000-square-foot facility include the installation of bi-level and lower wattage lighting with occupancy sensors to reduce electricity consumption and LED exit lights, and use of sustainable construction materials including carpet and flooring made with recycled fiber, low-VOC paint, and wood products certified by the Forest Stewardship Council.
The company also installed water-conserving faucets and plumbing fixtures, which are estimated to save over 40 percent of the water used by conventional fixtures. The facility also implemented a “green” cleaning policy.
SKF USA is touted as the first commercial building in Pennsylvania to achieve Platinum level certification under LEED for Commercial Interiors and one of only 60 worldwide.
The company also announced plans to build a new $2-million rooftop solar panel project that is scheduled to be completed in April 2011. The state’s Commonwealth Financing Authority has approved a $346,000 Solar Energy Program Grant to help SKF finance the new project.
Here are several sustainable design and construction features included in the 117,000-square-foot headquarters facility: a geothermal heating/HVAC system, consisting of 112 500-foot deep wells that is expected to save more than 30 percent on heating and cooling costs, daylight harvesting combined with high efficiency lighting that saves 30 to 40 percent in lighting energy consumption over traditional lighting systems, and water-efficient fixtures that consume 44 percent less water than conventional fixtures, saving an estimated 278,000 gallons per year.
The project also used low emitting Greenguard quality refurbished furniture, Forest Stewardship Council-certified flooring and doors, and diverted 93 percent of waste materials from landfills. In addition, 90 percent of all furniture equipment in the Lansdale facility is Energy Star-rated including the fluorescent lights that use 75 percent less energy than incandescent fixtures.
Legg Mason’s Baltimore headquarters has earned LEED Gold certification for the space it occupies at Harbor East. The base building has achieved Silver certification.
Legg Mason’s Harbor East facility has installed low-flow water fixtures that reduce use by more than 20 percent and state-of-the-art video conferencing to reduce business travel.
The company also has invested in renewable energy that is equal to 100 percent of the electrical power that the facility uses. Nearly 30 percent of the total building materials content were manufactured using recycled materials and were sourced from local manufacturers where possible.
In addition, the facility’s open floorplan layouts and extensive use of glass allow more than 95 percent of all spaces to have a direct line of sight to the exterior, maximizing the use of natural light and reducing the need for electricity.
MasterCard Worldwide’s main technology campus in O’Fallon, Missouri, has achieved LEED Gold certification for Existing Buildings: Operations and Maintenance (LEED-EBOM).
The 550,000-square-foot MasterCard Technologies campus, which is the company’s largest facility and home to its main data center, is the first project in Missouri to earn LEED-EBOM Gold certification, according to the company.
Sustainable features and practices include the use of occupancy sensors, dual low-flush valves on toilets and urinals, roofing material with a high-reflectance value, Green Seal standard cleaning products, and an integrated pest-management program that focuses on environmentally friendly spray chemicals and traps.
The campus also recycles about 50 percent of waste by weight, including paper, cardboard, aluminum, plastic, glass, batteries, wood pallets, light bulbs, and kitchen cooking oil, while 100 percent of shredded documents are recycled. The facility also composts all non-protein and yard waste on site. It also has eliminated styrofoam and disposable plastic from the cafeteria and coffee kiosks.
The facility also uses restroom paper supplies containing post-consumer recycled content, and copy and printer paper that contains 30 percent post-consumer recycled content. Office furniture contains at least 10 percent post-consumer recycled content.
The Gordon and Betty Moore Foundation workplace has been awarded LEED Platinum certification, representing the eleventh project in California to be awarded the Platinum designation for Commercial Interiors (LEED-CI).
Energy-efficiency measures include a cool roof, window film, window shades, lighting controls, light harvesting, occupancy sensor operated emergency lighting in the stairwells, a new high efficiency boiler, Energy Star appliances and equipment, enhanced commissioning, and ongoing measurement and verification measures.
Indoor environmental quality was improved by providing access to natural light and views to everyone in the building, careful selection of materials and adhesives, increased ventilation, and the implementation of green cleaning protocols.
The project also achieved a construction waste diversion rate of more than 96 percent, and a regionally manufactured material total of 40.6 percent including all of the new conference tables and casework. Nearly 73 percent of all of the wood-based products used in the remodel are Forest Stewardship Council (FSC) certified. In addition, new and refurbished restroom cores cut water use by 37.4 percent.
The project also used bamboo and cork as a replacement for wood flooring and bamboo and Kirei (sorghum straw) board are used for casework. Plaster, recycled content carpet tile, no- and low-VOC paints, FSC wood, reclaimed timber, locally harvested wood from urban forestry sources, cotton insulation, and recycled glass tile also were used in the project.
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