Warner Bros to offer movies through Facebook

Warner Bros is making some of its films available on Facebook, opening up a new revenue source for the Internet social network and signaling new competition for online entertainment companies.

Consumers can pay for the movies using Facebook Credits, a virtual currency so far used mainly in social games on the site, according to Warner Bros, a unit of Time Warner Inc, on Tuesday.

Facebook, which makes money mostly through online advertising, takes 30 per cent of the revenue from sales by third parties on the website using Credits.he service will initially be available in the United States, the company said.

The streaming of full-length Hollywood films on Facebook creates a new role for the 500-million-plus member social network, which has grown into one of the most powerful Web players by making it easy to share photos, videos and other content with friends.

In a note to investors on Tuesday, Goldman Sachs analyst Ingrid Chung said Facebook represents a long-term threat to online rental service Netflix Inc that caught Wall Street investors by surprise.

"The 'wisdom of friends' could be a bigger driver of movie viewership than the 'wisdom of crowds,.

The first movie available on the Warner Bros Entertainment page on Facebook is "The Dark Knight". Additional titles will be available for rental or purchase in the coming months.

Rentals cost 30 Facebook Credits, or $3, for 48 hours, and viewers can pause and restart a movie whenever they log back in.

One person close to the Warner-Facebook project told Reuters that it was not a partnership, but rather, a Facebook application that Warner developed on its own, using the website's open payment and technology standards.

More than 400 games and applications use Facebook Credits, the company said in an emailed statement on Tuesday. "We're open to developers and partners that want to experiment using credits in new and interesting ways, and we look forward to seeing what they come up with."

Mukesh Ambani confident of India’s economic Growth

Mukesh Ambani, chairman of India’s largest private sector enterprise Reliance Industries Limited (RIL), presented a very optimistic prediction of future of India’s economy. At a meeting held on Friday at the Institute of International Finance (IIF), Mukesh Ambani spoke with confidence about the future of India’s economy saying that India would most likely become a USD 5 trillion economy by 2022-25. He reported that the economy may grow at near 9 percent this fiscal year and that the nation must secure its food and energy supply needs to grow at double-digits.

India’s economy currently stands at USD 1.2 trillion. Mukesh Ambani, in addition to many other corporate heads of the country, voiced out the need for ‘inclusive growth’ that can help thrust the economic value to the advocated prophecy of prosperous growth. Mukesh Ambani reflected upon the fact that India was going to surprise the world in the next five-seven years in terms of digital distribution of funds, acclaiming tremendous development in infrastructure for the same.  He suggested that although India is treading on a prosperous path, there is a need to bring rural and agricultural development into consideration when going about economic re-structuring whereas the manufacturing sectors need to develop on automation of processes, so as to match up to global standards. He emphasized that the current spate of inflation needs to be overruled by efficient management of supply chain, so as to remove the backlog before commencing on the path to economic augmentation. 

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ITC to export soybean meal to China

ITC Ltd has signed a Rs.300 million agreement with a Chinese Business delegation to export soyabean meal to Yunnan province.

The agreement was signed after an interactive session with the Chinese team headed by Xiong Qinghua, director general of Yunnan's department of Commerece

The session was organised by the Indian Chamber of Commerce (ICC).

Qinghua said: "The total volume of bilateral trade between India and Yunnan province stood at $680 million, in which export from the province to India registered $520 million in 2010."

He said the major export from the province to India was fertilizers and the major import was iron ore and alumina.

Yunnan hosts the China South Asia Business Forum every year in June. Sri Lanka will be the theme country this year.

Reliance Communications inks $1.9 bn loan deal with Chinese bank

Reliance Communications Wednesday said it has concluded all necessary formalities with the China Development Bank for a $1.93-billion loan facility to Finance  its third generation telecom services business.


The loan facility is fully underwritten by the Chinese bank and represents the first and largest ever syndicated loan not only in India's telecom sector but also in terms of a loan to an Indian entity from a Chinese financial instituation.


The loan facility includes an agreement for $600 million for financing imports, as also for domestic expenditure on telecom equipment sourced from the Chinese vendors namely, Huawei and ZTE.

"Reliance Communications has already received Reserve Bank of India's approval for the facilities and the draw down is expected to commence shortly," .

The financing has a maturity period of 10 years.

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Apple Looking to Simplify iPhone 5 with Aluminum Body, Internal Antenna?

 iPhone 5! It is, however, a mock-up from a Japanese website that cites a Taiwanese source that says Apple's next iPhone will apparently feature an aluminum casing and an antenna that's been moved back inside the shell.

It's a lot of dots to connect—don't put too much stock into this information, in other words. Apple's expected to announce the iPhone 5 in early June at its Worldwide Developers Conference, so we've got roughly three months of rumors barreling down on us between now and then.The idea of Apple moving the antenna back inside the phone (as opposed to the external antenna design found on the iPhone 4) isn't too much of a stretch seeing as though the iPhone 4's external antenna has been the subject of plenty of controversy.

 The company likely wants to avoid colorful descriptors like "Antennagate" and "Death Grip" from now on.And rumors of the glass-backed iPhone 4 suffering from scratches and cracking may lend credence to the idea of an aluminum-clad iPhone 5.

Both design changes would be throwbacks to previous iPhone models—the first iPhone had an aluminum back and all models previous to the iPhone 4 sported internal antennas.

As with anything that says "iPhone 5" anywhere on the entire internet until Apple actually announces the thing, take this news with a grain of salt.