Google.org, the philanthropic arm of Google Inc, has teamed up with the Soros Economic Development Fund and Omidyar Network to fund a USD 17 million company that will invest in small- and medium-size business in India.
The Small to Medium Enterprise Investment Co would fill the gap between loans offered by microfinance institutions and those of large commercial banks and private equity funds.
Google.org’s Sonal Shah said Indian businesses of small and medium size do not have the same financing opportunities as provided in rich countries.
“Our goal is to increase the flow of capital to SMEs in India. This is an important step in helping to attract commercial capital and reduce dependency on philanthropy or soft capital to fund this industry.”
There is a huge demand for loans targeted at small and medium businesses, said Neal DeLaurentis, Vice President of Soros Economic Development Fund.
“Long ignored by commercial capital Markets, small and medium businesses are an attractive investment opportunity as well as an engine for economic growth for India.”
Courtesy : WWW.FINANCIALEXPRESS.COM
Firm funded by Google to invest in India SMEs
February 21, 2008, 9:28 amGujarat cricketers strike it rich at IPL bidding
February 21, 2008, 9:25 am
Gujarat's cricket stars have struck it rich at the Regal Ballroom, Hilton Oberoi in South Mumbai, where the bidding for cricketers for the Indian Premier League took place. The Pathan brothers, Irfan and Yusuf, from Baroda, Munaf Patel, who is from Bharuch and plays for Maharashtra, and Parthiv Patel of the Gujarat Cricket Association have been roped in by the IPL teams for a period of three years for a whopping sum of Rs 8 crore.
Irfan has been bought by Mohali for Rs 3.70 crore, while brother Yusuf has been roped in by Jaipur for Rs 1.90 crore. Munaf Patel has also been roped in by Japiur for Rs 1.10 crore, while Parthiv Patel has been roped in by Chennai for Rs 1.3 crore.
Yusuf, who is currently playing Duleep Trophy final against North Zone in Mumbai, said, it’s a great opportunity and he believes he has been rewarded for his fine performance in domestic cricket.
Yusuf's all-round performance in the ongoing domestic season has been quite impressive. In the two Duleep Trophy league matches, he scored a hurricane century in one and in the other, grabbed five wickets in an innings with his off-break. “I have been obviously rewarded for my fine performance in domestic cricket,” said the Baroda player, who played in the finals of the inaugural Twenty20 World Cup.
“I enjoy playing all forms of the game,” he added.
His star brother Irfan has also been rewarded for his all-round ability ever since he made a comeback to national team with the Twenty20 World Cup.
Pathiv, who is vying to return to the national team, is also reaping the rewards of his domestic
performance, both in front and behind the stumps. Pathiv, whose base price was US 150,000 dollars, is currently playing Duleep Trophy final in Mumbai.
Irfan, the most expensive player in the group at US 925,000 dollars, has been paid 725,000 dollars more than his base price.
Munaf, who has been in and out of the Indian team due to injuries, is the least expensive in the group, but has yet managed to get US 175,000 dollars more than his base price.
Courtesy : Expressindia.com
Irfan has been bought by Mohali for Rs 3.70 crore, while brother Yusuf has been roped in by Jaipur for Rs 1.90 crore. Munaf Patel has also been roped in by Japiur for Rs 1.10 crore, while Parthiv Patel has been roped in by Chennai for Rs 1.3 crore.
Yusuf, who is currently playing Duleep Trophy final against North Zone in Mumbai, said, it’s a great opportunity and he believes he has been rewarded for his fine performance in domestic cricket.
Yusuf's all-round performance in the ongoing domestic season has been quite impressive. In the two Duleep Trophy league matches, he scored a hurricane century in one and in the other, grabbed five wickets in an innings with his off-break. “I have been obviously rewarded for my fine performance in domestic cricket,” said the Baroda player, who played in the finals of the inaugural Twenty20 World Cup.
“I enjoy playing all forms of the game,” he added.
His star brother Irfan has also been rewarded for his all-round ability ever since he made a comeback to national team with the Twenty20 World Cup.
Pathiv, who is vying to return to the national team, is also reaping the rewards of his domestic
performance, both in front and behind the stumps. Pathiv, whose base price was US 150,000 dollars, is currently playing Duleep Trophy final in Mumbai.
Irfan, the most expensive player in the group at US 925,000 dollars, has been paid 725,000 dollars more than his base price.
Munaf, who has been in and out of the Indian team due to injuries, is the least expensive in the group, but has yet managed to get US 175,000 dollars more than his base price.
Courtesy : Expressindia.com
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