Iran Says US Breaching Nuclear Deal As Hassan Rouhani Starts New Term

Iran Says US Breaching Nuclear Deal As Hassan Rouhani Starts New Term

Iran Says US Breaching Nuclear Deal As Hassan Rouhani Starts New Term

Teheran Iran said on Thursday that the new US sanctions constituted a violation of its nuclear agreement with world powers, putting pressure on President Hassan Rouhani as he began his second term.

Rouhani was sworn in by Supreme Leader Ayatollah Ali Khamenei late on the day after his re-election in May.

It is less than 24 hours after US President Donald Trump has confirmed new sanctions against Iran.

Tehran said the new measures violate the 2015 agreement with world powers, which have facilitated sanctions in exchange for restrictions on its nuclear program, an agreement that Trump has repeatedly threatened to break.

“We believe the nuclear deal has been violated and we will respond appropriately,” Deputy Foreign Minister Abbas Araghchi told state television.

“Of course, do not fall into the trap of US policy and Trump, and our response will be considered very carefully.”

The growing crisis creates a difficult situation Rouhani, a 68-year-old moderator who won re-election largely to his efforts to repair relations with the West.

“It’s an unfortunate moment,” said Ellie Geranmayeh, an Iranian analyst at the European Council on Foreign Relations.

“What is absolutely essential is the way Europeans are positioning themselves,” he said, emphasizing growing trade ties with Europe and its continued support for the nuclear deal.

Britain, France and Germany – which signed the agreement with Russia, China and the US. – are the founders of the agreement and criticized the administration for Trump threatened to demolish.

The French giant of total energy has defied US pressure in July over the signing of a $ 1 billion gas deal with Iran.
“What the Iranians now bancent, perhaps overestimated, is that Europe is going to safeguard and build the business and make it too politically costly for Trump to tear, or at least prove to Washington that if it withdraws to do it alone, Geranmayeh said.

Hard-line opposition

The International Atomic Energy Agency has repeatedly confirmed that Iran is clinging to its commitments under the agreement – a position that was reluctantly accepted by the White House Trump.

But with Iran taking the lead in the Middle East, through its support for the powers in Syria, Lebanon and Iraq, US lawmakers seem determined to increase tensions.

Meanwhile, Rouhani faces challenges closer to home, opponents in difficulty arguing that aggressive moves prove that Washington would never have confidence in the United States.

A war of words has also erupted between the Rouhani office and the Revolutionary Guard after criticizing its role in the economy – although they tried to bury the ax with a public demonstration of unity.

This week, the reformist allies Rouhani also joined the chorus of criticism, attacking the press that continues to appoint a male cabinet.

Maoists abduct, release three gatemen in Bihar; 25 trains delayedMaoists abduct, release three gatemen in Bihar; 25 trains delayedMaoists abduct, release three gatemen in Bihar; 25 trains delayedMaoists abduct, release three gatemen in Bihar; 25 trains delayedMaoists abduct, release three gatemen in Bihar; 25 trains delayedMaoists abduct, release three gatemen in Bihar; 25 trains delayedMaoists abduct, release three gatemen in Bihar; 25 trains delayedMaoists abduct, release three gatemen in Bihar; 25 trains delayedMaoists abduct, release three gatemen in Bihar; 25 trains delayedMaoists abduct, release three gatemen in Bihar; 25 trains delayedMaoists abduct, release three gatemen in Bihar; 25 trains delayedMaoists abduct, release three gatemen in Bihar; 25 trains delayedMaoists abduct, release three gatemen in Bihar; 25 trains delayedMaoists abduct, release three gatemen in Bihar; 25 trains delayedMaoists abduct, release three gatemen in Bihar; 25 trains delayedMaoists abduct, release three gatemen in Bihar; 25 trains delayedMaoists abduct, release three gatemen in Bihar; 25 trains delayed

Maoists abduct, release three gatemen in Bihar; 25 trains delayed

Maoists abduct, release three gatemen in Bihar; 25 trains delayed

Maoist rebels kidnapped three strong janitors at railway crossings in Bihar, altering the movement of trains for nearly seven hours in the Patna-Howrah section, officials announced Thursday.

The movement of about 25 trains was halted until the road reopened at 7 am Thursday, a high-powered HT train said.

The three railroad workers, who retired after midnight, were released at 2 am after security forces launched an operation in Lakhisarai, one of Bihar’s 15 districts affected by the Maoist insurgency.

Sources said rebels kidnapped railroad employees for defying a week-long ruling from the martrers observed by the banned CPI (Maoist) and its army, the PLGA, July 28, the anniversary of the death Of Charu Mazumdar who is considered the father of the revolt left in India.

About 100 rebels were involved in the hijacking of crosses less than 10 kilometers away, said SM Khopde, inspector general of the Bhagalpur area. The rebels also threatened the driver and caretaker of a passenger train.

Following the abduction, several trains – including Howrah-Amritsar Punjab – were stopped at different locations until the road is clear in the morning.

“All railroad employees have been released and are safe,” said Rajesh Kumar, the spokesman for Eastern HT Railways.

Perpetual for four Maoists, RI 10 years for one, in the case of Sanjay Singh DFO murder
The extraction area, about 180 km from the city of Patna, is located along the border with Jharkhand, one of the most unusual Indian states, the most affected.

Police sources said security forces, including the anti-Maoist force, CoBRA – CRPF – launched operations in the Gopalpur forest, leading to a brief exchange of gunfire.
The rebels, however, managed to escape deep into the jungles under the cover of darkness.

The deputy director general of the police (barracks) Sanjiv Kumar Singhal said that all possible routes used by the Maoists to move were sealed to catch the rebels.

Sources said a mobile tower operated by a private company was also burned. The rebels often turn to infrastructure.

The incident came hours after the government informed Parliament that incidents of violence by the Maoists – officially called the far left – have steadily declined in the past five years.

In a written response, Minister of State in the country Hansraj Gangaram Ahir Rajya Sabha reported that 1,048 Maoist attacks were reported in 2016, compared to 1089 incidents in 2015.

He said that 213 civilians and 65 security personnel died in Maoist attacks in 2016 compared to the killing of 171 civilians and 59 security agents in 2015.

The Maoists profess to fight for the emancipation of the poor and oppressed, but the government says that most of the rebel outfits were mainly involved in kidnapping for ransom.

'Virgin Means Unmarried Girl': Bihar Minister 'Clarifies' On Bizarre Form

‘Virgin Means Unmarried Girl’: Bihar Minister ‘Clarifies’ On Bizarre Form

‘Virgin Means Unmarried Girl’: Bihar Minister ‘Clarifies’ On Bizarre Form

Patna: A blank is a single girl, said Bihar Health Minister Mangal Pandey in a strange comment that justified a form of government that the hospital requires doctors and other staff members to declare their virginity or the Number of times they were married.

“I looked for” virgin “in the dictionary.This means kanya, Kunwari (daughter, single) Punya Bhumi … I do not see anything wrong with it,” said M. Pandey Thursday.

He responded to the inexplicable form of “marital notification”, transmitted to the Indira Gandhi Institute of Medical Sciences, Patna, which seems to cross the professional line.

Recruits were asked to declare that they are single or widowed or blank, if they are married and have only one “living woman” or if they have more than one wife. Women must state whether they are married to a person with a woman or a woman.

Igims ani patna
The recruits to the IGIMS Patna were asked to declare if they were single or widowed or blank.

Working on social networks, the Minister has instructed the health department to replace “virgin” with “single” in the form.

Earlier I had said the same form was used by major AIIMS hospitals in Delhi. “It was a 34-year rule for medical staff to file the statement,” he told reporters.
Manish Mandal, the hospital’s medical director, said: “The rules are made by the government and the constitution. If they change their password, we will also do it.”

The statement of virginity, he said, was about the marital status of a person and the parents.

“Virgin has nothing to do with virginity, but marital status. If a person joins and dies, what would the applicant be?” Perhaps, he acknowledged, respondents “should have asked whether they were married or not … that they would have been sober.”

The comments were ridiculed in the tweets that have assumed that the word actually meant the intention of its use was “unique” and not “virgin”.

“It’s embarrassing for us to say anything,” a health official told the IANS news agency.

Live Cricket Score, India vs Sri Lanka 2nd Test, Day 1: KL Rahul Hits Fifty On Return

Live Cricket Score, India vs Sri Lanka 2nd Test, Day 1: KL Rahul Hits Fifty On Return

Live Cricket Score, India vs Sri Lanka 2nd Test, Day 1: KL Rahul Hits Fifty On Return

Indian skipper Virat Kohli would not want to make too many changes in the game of eleven after winning the first convincing match against Sri Lanka.

KL Rahul is ready to make a comeback in the eleven game instead of Abhinav Mukund while the rest of the team is likely to remain the same.

Cheteshwar Pujara will play his 50th test match and India will try to get the early lead on the first day of the second test match with the hosts really struggling to get their team combination.

For India, the two new pitchers worked well in the final round and spinners coming to the party in the second possibility of the Galle Test, visitors almost all bases covered.

24:40 IST: Welcome back! KL Rahul and Cheteshwar Pujara are moving towards the center. Rangana Herath launches the second session.
24:01 IST: It’s a LUNCH in Colombo. India 101/1 in 28 overs.

11:28 IST: Cheteshwar Pujara struck this powerful, but the ball hit the Kusal Menis helmet in front of the short leg. Pujara checks if the player is good.

11:23 IST: FOUR! KL Rahul Rangana Herath sends to the middle window deep for a limit. India 90/1 in 19 overs.

11:19 IST: FOUR! KL Rahul will be back-up and hitting the ball to the mid-deep cleat. A shot of the law. India 84/1 in 18 overs.

11:12 IST: FOUR! Excellent KL Rahul shot. The right-hander for the track and sent the ball to the deep extra cover for a limit. India 74/1 at 15.2 overs.

11:10 AM IST: FOUR! Cheteshwar Pujara down the court and crushes the ball over a limit. India 70/1 at 14.5 overs.

11:08 IST: Cheteshwar Pujara plays instead of the window. There will be 2 races.
10:51 PM IST: Cheteshwar Pujara is the new Batman in the fold. This is his 50th test match.

10:48 IST: WICKET! A strong attractive BPN Dilruwan Perera. The referee is not interested. Sri Lanka has requested a review. It is line of passage, and that is outside. Shikhar Dhawan share 35 races. India lost its first shutter. India 56/1 in 10.1 overs.

10:40 IST: A great attraction BPN Dimuth Karunaratne. The referee stopped working. I waited! Rahul asked about the criticism. And it is not outside. The referee must reverse his decision. India 52/0 in 9.1 off.

10:37 IST: FOUR! KL Rahul used the ball and sent it to the right leg. Nuwan Pradeep is not happy with this one. India 52/0 in 8.4 off.

10:36 IST: FOUR! Shikhar Dhawan led Nuwan Pradeep to the deep extra cover. India 47/0 in 8.3 off.

10:26 IST: FOUR! India now occupies borders. Shikhar Dhawan takes a long step and pushes the ball through the covers. Left-handed beautiful shot. India 36/0 in 6.3 off.

10:25 IST: FOUR! KL Rahul stuns the middle stop holder and got another border. A great use of law adjustment. India 32/6 off.

On his last day in office as President, Pranab Mukherjee got this letter from PM Modi

On his last day in office as President, Pranab Mukherjee got this letter from PM Modi

On his last day in office as President, Pranab Mukherjee got this letter from PM Modi

NEW DELHI: Prime Minister Narendra Modi called former president Pranab Mukherjee, a “paternal figure” + before, but Mukherjee’s last day as president, sent him a letter expressing his deep admiration that many more.

The prime minister said Mukherjee, who was more moved than the two “were able to work together with synergy” despite the different political ideologies that shaped them.

He spoke of Mukherjee’s “intellectual capacity” and his “profound approaches to issues” that have helped the government and him personally.

And Mukherjee was given the greatest compliment for a politician, when he said that the former president +, “politics was a simple way to return society disinterestedly” by placing the “welfare being of the nation above all else.”

Mukherjee, who said these words “touched” his “heart”, shared the letter of PM Modi in his letter on Twitter.

Your phone call asking me “I hope you take care of your health” was enough to fill you with fresh energy after a long day of meetings or during a field trip, “wrote PM .

He spoke of “wisdom, guidance and personal warmth” Mukherjee as a beacon of light that inspires confidence and strength.

These characteristics, combined with the “strength of intelligence” of the former president through his “knowledge bank” on a wide range of topics, which led quality Mukherjee PM was the most admired, it seems.

This quality? The spirit of bipartisanship Mukherjee, who helped to give seriousness to constitutional responsibilities not political but crucial to be president.

“Pranab da, our political travels took shape in different political parties. Our ideologies have sometimes been different … However, such is the strength of their intelligence and wisdom that we could work with a synergy,” he said. Modi wrote.

PM has direct experience of this synergy. After all, Modi inherited Mukherjee in 2014, when he and the NDA led by the BJP won the Lower House elections.

Mukherjee, a veteran of the Congress Party, won the presidential election as a candidate for Congress and UPA, which have a very different ideology from the BJP.

But this ideological divide has never prevented the PM-president relationship.
For this, the member has lavished praise on Mukherjee in his letter.

“During his travel policy and his presidency, the welfare of the nation has been placed above everything else … you belong to a generation of leaders for whom politics was simply a way of giving back to society … India will always be proud of you, a president who was a humble public servant and an outstanding leader. “

D K Shivakumar: Congress' money and muscle man

D K Shivakumar: Congress’ money and muscle man

D K Shivakumar: Congress’ money and muscle man

BENGALURU: Karnataka Energy Minister Doddallahalli Kempegowda Shivakumar is wearing many hats. It is the money bag +, the human muscles, the mobilization of crowds and above all a reliable store for the high command of the Congress. In short, man to go for all things and all seasons.

Not surprisingly, given that 55 is the country’s second richest minister, with assets worth Rs 251 crore, according to a survey conducted by the Association for Democratic Reforms in 2016.

Popularly known as the “DK” in political circles, it has so many enemies as supporters. His critics are seniors mostly in the party – the main reason he lost the race for the position of KPCC President and was appointed head rather than the congressional campaign committee for the 2018 Assembly polls .

“He is relentless, he does not respect the elders and pushes his ideas on everything,” said a party official.

An ambitious man, self-made, Kumar has taken on the rungs of the political ladder. He admits tirelessly to be an aspiring Minister claiming in the same category that he will wait his time and let his old man complete his rounds first.

For now, his goal is to emerge as a leader in the Vokkaliga Karnataka Congress, filling the spot with his mentor and former Minister of State and Foreign Minister of the Union, SM Krishna, who recently joined BJP.

His biggest political opponents are former PM Prime Minister Deve Gowda and his son, the state chairman of JD (S), HD Kumaraswamy.

The reasons are mainly related to the fact that both belong to the same powerful political Vokkaliga community in the ancient region of Mysore. The two rush towards political and business support in the same urban district of Bangalore.

Both have a policy in the active family. Kumar’s brother, DK Suresh, is a member of the Bangalore Rural Premium and S Ravi is a MLC.

Coming from a Sathanur bourgeois family farm, 30 km from Bangalore, the initial matriculation Kumar was in the recognized national public school, which was asked to be out of class 8 does not meet the academic requirements.

In 1985 he was unsuccessfully contested against Gowda of the Sathanur district assembly and in 1989, he won the seat.

Kumar and controversy go hand in hand and he easily recognizes his entry despite the publication made.

In 2002, he was invited to a congressional official who takes into account the nomination papers signed by deputies for candidates Rajya Sabha from the party that used them to become the candidate himself.

Upon learning of this, Kumar, minister, rushed to Vidhana Soudha and took the officer by the collar before the chairman of election table and asked him to withdraw.

A true believer in numerology, the favorite number is six, which he says is ruled by the planet Venus and gets the energy.

CLASH OF HINDUTVA ANDTRADE POLICY

ITH INDIA’S EXPORTS shrinking for the third straight month, the commerce ministry rushed the publication of its long- delayed five-yearly foreign trade policy. The ministry tried to make up for its tardiness by presenting a rather ambitious plan: to double exports to $900 billion by 2020. It expressed pride that for the first time, India’s foreign trade strategy would be aligned with other government economic pro­grammes like Make in India, Digital India and Skills India. What it has not factored in, is the Hindutva agenda, which threatens to put a spoke in the wheel of development.

The B JP-led state governments’ imposition ofban on cow slaughter in Maharashtra and others runs smack into the commerce ministry’s plan to create jobs and increase exports by promoting trade in leather goods. This clash of economic policy with religiosity provides yet another example of the ruling B JP’s penchant for culture war, threatening to undo Narendra Modi’s development plan.

The trade policy was unveiled days after the ban on cow slaughter and beef import introduced in Maharashtrabegan to spread to other B J P-ruled states. Placing the imprimatur of the central government on that trend, home minister Ra- jnath Singh declared that “cow slaughter cannot he allowed in this country. We will use all our might to ban it”. Another BJP stalwart even demanded the humble cow be renamed as “Rashtra Mata” — mother of the nation. A misplaced re­ligious sentiment (Hindus have been consuming beef for centuries) has now been raised to the level of state policy — negating the brave rhetoric of progress for all Indians.

It is thus ironic that the newly unveiled foreign trade policy singles out leather export as an area deserving special sup­port. The leather sector already employs 2.5 million workers and the rising value of Indian leather and footwear exports

Ban on cow slaughter in BJP-ruled states negates the Modi govt’s intent of supporting the leather industry

for important destinations as the US. While entirely laudable, whatthe ministry neglected to note is that pliable cow hide, rather than harder buffalo leather, is needed to manufacture quality garments andfootwear. By shutting down abattoirs for cows and bulls, the government is threat­ening to stunt growth in of one of its self-identified promising areas. India does not lack skilled workers in leather goods, but growth has been blocked by a shortage of raw material. Last year, industry officials said that in order to meet the export target of $14 billion by 2016 -17, the sector would have to double its production of 2 billion square feet of leather Instead, thanks to the ban, the industry will face a reduced supply (Maharashtra alone supplied over 15 per cent of cow hide) and meeting its existing commitments may require it to import semi-processed cowhide from Africa at more than double the price. Not a recipe for success in any business.

India’s chaotic policy-making offers a remarkable contrast with China’s sure-footed planning. As the world’s number one exporter, China accounts for 11.74 per cent ofthe world’s merchandise trade (compared with India’s 1.66 per cenfi and has launched new initiatives to boost trade in order to support its slowing economy. Prime Minister Li Keqiang said the government would adopt policies “to allow our industries to charge out into the world unfettered and rise up through facing competition on the global stage”.

While India, lacking infrastructure, technology and skilled workers, struggles to grow its manufacturing indus­try, the Chinese government at different levels is proactiveh planning for the coming labour shortage. Recently Guang­dong province announced plans to offer sops to 2,000 manu­facturers intending to install robots on their production lines. Though seen as a random coincidence, the divergen: concerns of the two nations over cows and robots, perhaps explains their different growth trajectories.

 

FICCI FRAMES MISSES THE BUS

HEN AN INDUSTRY holds an annual jamboree, it should turn the spotlight on itself and frankly recognise its pluses and minuses. Unfortunately, ‘Ficci Frames’, the annual three-day conclave of the media and entertainment (M&E) industry, held this year in the last week of March, lacked any serious introspection. Over the years the forum has become a net­working site where people exchange business cards. They also listen to suspect ra-ra figures from management consul­tants about the performance of the different segments such as television, cinema and print.

The one person who spoke sense and disturbed the audi­ence’s smugness was Aamir Khan. Pointing to the research that he had delved into during the making of his TV show, SatyamevJayate, the actor said he had realised the country was good at its ‘hardware’ — everybody had the latest phones and gadgets, and information technology was booming; but there was a‘software’ weakness. There was a real weakness in understanding the ‘fabric’ that makes people and their feel­ings. For instance, the kind of content children watch today is scary; that is because no relevant cinema or TV content is being produced for them, he said. Rubbing in the point, he said: “… If you look at the matrimonial columns, you will realise that we have not moved an inch.”

After Khan, came the outpouring of statistics that tried to convince us that 2014 was a great year, and that future pros­pects are equally bright. The KPMG report on the perfor­mance of the industry described 2014 as “a watershed year, with advertising bouncing back”. It estimated that Indian advertising grew 15 per cent in 2014, while digital media was expected to gallop at 30 per cent over the next fewyears. The report predicted that the Rs 1,09,400 crore M&E industry is poised to grow at 13.9 per cent over the next five years to reach

Rs 1,96,400 crore by 2019 (See M&E graphics on Page 130).

What was lost in the noise was KPMG’s data on the perfor­mance of cinema, the heart of the country’s entertainment industry. Revenues from films grew less than one per cent to Rs 12,640 crore in Calendar 2014 from Rs 12,530 crore the previous year. This year holds poor prospects too, with growth for filmed entertainment pegged at less than 8 per cent.

Why did the conference not focus on the regulatory and licensing regime, which is key to the growth of the sector? The B JP government, like its UPApredecessor, has kept up the dubious reputation of using film stars on stage when it suits them, but doing nothing for the health of the industry.

Take radio. It has shown robust growth of 18 per cent, with more than 200 channels in 70 cities. Forthelastthree-and-a- halfyears, the Centre has been promising to take radio com­munication to another level with the auction of839 stations across 227 cities and towns, but postponing on one count or the other. Finally, after many false starts the Union cabinet in January this year announced it would go ahead with its third phase of radio auctions by the end ofFY2014 -15. That has not happened. At ‘Frames’, J.S. Mathur, additional secretary. Union information and broadcasting (I&B) ministry, said the government had “started proceedings” into the auction of FM channels for 135 channels in 69 cites, and “we hope to auction 1,000 new FM channels by 2016”.

Again, on digitisation of cable TV, pending for over a de­cade, the B JP government got cold feet last year: It pushed back by more than two years the deadlines for implementing Phase 3 and Phase 4 of the Digital Addressible System that will cover over 80 per cent of the population —December 2015 for Phase 3 and December 2016 for Phase 4. What’s the bet that these deadlines too, will not go begging?

Why were I&B minister Arun Jaitley and I&B secretary J.S. Mathur not grilled on the government’s pussyfooting? Instead, the conclave discussed: Print media versus digital: and arrived at the ‘weighty’ conclusion everybody knows — ‘yes’ the two will coexist! ‘Ficci-Frames’ should do everyone a favour by either examining why the industry is showing such dismal growth and investment; or it should hang its boots. E

TRANSIT LOUNGE

‘We want to be India’s Oxford’

Tim Barton, managing director, Global Academic Publishing, Oxford University Press (OUP), talks to BWs JOE C. MATHEW on publishing in India

Q: How do you rate India’s academic publishing in­dustry? What provides an extra edge to OUP?

A: India’s publishing industry is astonish­ingly vibrant and varied. OUP’s contributions he in providing both quality and service. The press’s rigor­ous review process ensures that our publications have

been vetted by experts and assessed by scholars of high repute in India who are our delegates. We have established networks and resources that ensure our authors’ books reach vari­ous audiences, both within India and globally.

Q: How promising is In­dia’s market for the global academic publishing divi­sion of OUP?

A: We are encouraged by the recent experiences in expanding our publish­ing in India. We have been aggressively add­ing resources across our editorial, marketing, and sales functions, and are taking steps to ensure that our Indian authors benefit from the advantages that come with being an Oxford author. OUP is already a well known and respected imprint here, but we are still seeking out options to make its experience abet­ter one. OUP will always behave like a 100-year-old startup, with a focus on the needs of Indian authors and customers. We want to be India’s Oxford, not simply Oxford India.

Q: What are the chal­lenges India poses?

A: India poses the same challenges as any other country. Frankly speaking, authors and readers want the same thing — excellent, well-produced books that are accessibly priced — and we know how to publish well. While we are not complacent about the chal­lenges that piracy poses, our current emphasis is on building our business by
doing the best possible job.

Q: Will allying with In­dian universities work as a business strategy?

A: OUP often collaborates with universities on their research dissemination priorities. We enjoy fruitful relationships with univer­sity centres, and are keen to explore in India. It needs a mutual benefit to such alli­ances, where the union cre­ates value for both, mainly, for our constituents.

Q: How fast is the growth of digital products?

A: At Oxford, we be­lieve print and digital go hand in hand, and publishers should strive to be ‘format-agnostic’, meaning that we provide the works of our authors in a manner preferred by readers. This can be an expensive proposition for a publisher, so we need to time our expansion into various formats with the development of the market. Print is a wonder­ful, durable technology that has served us well for centuries but, we can’t un­derestimate the benefits digital can provide for re­searchers and readers. CD

Upping The Game

BLOOMBERG is moving to make Bloomberg Televi­sion India a more ‘premi­um’ product that will focus on long-term business trend stories rather than on stock market coverage aimed at retail traders.

In an exclusive chat with BWabout the business channel — ajoint venture with the Reliance ADA Group — Justin Smith, CEO of Bloomberg Media Group, said Bloomberg TV has always positioned itself differently from market- based TV networks such as CNBC and ETNow.

When asked why Bloom­berg TV had been lagging behind in audience share, Smith said: “We want to be the business channel for business leaders. Becom­ing No.l in viewership is not necessarily our obj ec- tive. We want to become the most influential among the business leaders.”

Smith, who was in India to attend a board meeting of Bloomberg TV India, said the agenda was to discuss product position­ing; and the consensus that emerged was to make the channel more ‘premium’ in days to come. “Our part­ners agree that Bloomberg brings more premium global focus; rather than the traditional day-trader focus others have. We are going to double down on that strategy,” he said.

Before Bloomberg, Smith was in-charge of Atlantic Media, a 156-year- old hugely influential print and magazine company in the US. “When I joined, Atlantic’s print and digital audience was at half a million. Today, print is 400,000, while digital has soared to 25 million.”

At Bloomberg, the digi­tal faces ofBloomberg.com and Businessweek.com

50%

Of Bloomberg LP’s rev-
enues come from the
digital platforms, which
the company wants to
replicate in India

were merged two months ago to create Bloomberg Business as a new destina­tion primarily for mobile use. “We are exploring the possibility of Bloomberg Business India,” he added.

Smith revealed that digital platforms are generating nearly 50 per cent of Bloomberg LP’s revenues. Advertisers, who earlier suspected digital formats, are now beginning to move their money out of print. What digital offers advertisers is better ‘targetability’ and ‘measurability’. “The
combination of context, content and ‘geo-targeting’ is phenomenal, and that’s the Holy Grail; it is much better than buying an ad in a newspaper.”

Bloomberg Media Group, which accounts for a little less than 10 per cent of Bloomberg LP’s annual $9 billion revenue, was carved out as a subsidiary in March 2011 putting together Bloomberg’s tele­vision, print, radio, mobile and digital media proper­ties. “Our vision is to create the biggest global media company and capture the consumer in every stage of the media consumption cycle by surrounding him with all these platforms.” He said newspapers like Wall Street Journal and Financial Times are print centric; they are moving to digital, but are hanging on to print. Competition is mainly from what he calls ‘legacy’ media and their business models are under pressure. “The idea is to disrupt the traditional newspaper and television businesses, and create the next generation media company; and the heart of our strategy is digital with Bloomberg Business as our flagship destination,” he adds. — Gurbir Singh