Get subscribed to our newsletter
Get interesting updates to your email inbox.
Hong Kong, Sep 11, 2017: He grew up in Chandigarh and never thought he would be a billionaire and one of the richest people in Hong Kong. But Harry S. Banga has done that successfully in the fields of commodities, ship management and asset management.
With a net worth of $1.02 billion, Harindarpal Singh Banga, as the chairman of the fairly young Caravel Group, not only figures among the list of Top 50 richest people (Forbes Magazine) in Hong Kong but is known as the tycoon who has staged a comeback in the commodities sector in a big way.
“It’s been a great journey. (I am) So proud of achieving what we have done. Obviously, there were a lot of ups and downs. Never realised on leaving Chandigarh that I will be where I am today. By the grace of god, it has been a wonderful and successful journey. One day I will write a book,” Banga told IANS during an interview in the swanky headquarters of the Caravel Group in the Central Plaza skyscraper in Hong Kong’s busy Wan Chai commercial area.
Banga, who started as a shippie, has reasons to feel proud.
He exited the Noble Group, in which he was a co-founder in 1988, just before it started crumbling on the business front. Setting up the Caravel Group in 2013 with an $800 million investment, Banga was soon back in the big league of Hong Kong billionaires early this year.
“We have three verticals within the Caravel Group. The first one is Asset Management. It is purely investing in liquid assets in equity, fixed income and debt investment and some private equity investment. The other part is brick and mortar business in Caravel International which has got two verticals. One is Caravel Resources under which we do the commodities business. Then we have Caravel Maritime and Caravel Fleet Management Limited.
“Today we are the third largest ship management company in the world. We have 450 ships under our management, close to $20 billion dollars of assets. Total officers and crew are about 18,000 — the majority of them from India,” he explained.
With operations spread in 19 countries across most continents, Banga says that doing business with China is easier.
“Seventy per cent of our total turnover comes from China. I have been dealing with China since 1983. Dealing with officials and corporates in China, I find them very easy to develop and do business with.
“Our business mainly focuses around China, which is the main consumer of commodities today. Today, we are the largest international trading company supplying iron ore to China. Total volume is 40 million tonnes. The originating countries are India, Australia, South Africa and Brazil. Caravel Carbon does the thermal coal business. Sixty per cent of that goes into China and 40 percent to India to power plants, cement plants etc,” he said.
Though his company has offices in India, the business dealing is limited.
“While in other countries in Europe, Australia, America it is either a green light or red light — it is all very clear. Though in the last three years it is changing, in India it is permanent amber light. So, you don’t know if it is red or green. They do come with a policy in India but it takes a long time to understand that policy,” said Banga, who was honoured with the Pravasi Bharatiya Award in 2011 by the Indian government.
“Ours (India) is not easy. We have religion issues, caste issues, language issues, states have their own issues. All these things are very challenging. New Delhi takes decisions. The implementation is in districts. It is a very different world there (in the districts). In Beijing, one guy decides, everyone implements,” he said.
Banga is worried that too many young people in India are getting education and skills, but not enough jobs are available.
“In India, we have the beauty product and health product e-retail company called Nykaa. That is one of the major investments that we have,” he added.
Born in Amritsar, Banga, 66, did his schooling and bachelor of engineering in Chandigarh before moving out in the 1970s.
“I became the youngest captain at the age of 27-and-a-half. I worked with companies in London, Geneva and Hong Kong, where I arrived in 1984,” he said.
Among other things, Banga has an eye for contemporary paintings and antiques. (IANS)
Every child who grew up in the 90s and the early 00s has certainly grown up around Tom and Jerry, the adorable, infamous cat-chases-mouse cartoon. The idea of naughtiness and playing mischief had the standards that this particular series set for children and defined how much wreckage was funny enough.
The show's creators, William Hanna and Joseph Barbera initially named their characters Jasper and Jinx. They did not plan for the fame that Tom and Jerry brought them when they released a movie by the name of "Puss Gets the Boot". This movie featured a certain cat and mouse who were a notorious pair, named Jasper and Jinx. When the movie became a hit, the names of the characters were changed and the show shot to fame.
Tom and Jerry became a go-to cartoon for children in the early 00s, and it was one of those shows with a firm foundation, that had already been in the running for decades. The original template had been planned nearly 80 years ago, and the makers did not change it. The music that was played in the many episodes, made a breakthrough in its own way. It is the most easily recognizable melody with utterly nostalgic associations.
Today, Tom and Jerry is still a household name in homes where children love cartoons Image credit: wikimedia commons
A set of supporting characters were defined for the show, to occasionally take the focus off the original pair. There was a large, black woman named Mammy Two Shoes and a bulldog who took Jerry's side. Mammy Two Shoes was discontinued because her character portrayed racist tendencies. A tall white woman replaced her, who was kinder and loved mice. Either of the women's faces was never revealed.
Today, Tom and Jerry is still a household name in homes where children love cartoons. There are a host of other shows besides this that aim to replicate the same aspects of the cartoon but do not come close at all. Despite the immense amount of violence in the show, it is a beloved pastime of parents and children alike.
Keywords: Tom and Jerry, Cartoon, Hanna and Barbera, Television
One of India's leading private museums, the Museum of Art & Photography (MAP) Bengaluru, has released new primary research conducted by the ReReeti Foundation, on audience behaviour in India's cultural sector. While more than half of the respondents thought the arts and culture are essential, they rarely manage to make time for it. The majority (60.6 per cent), mostly young people under 30, felt Indian museums could present more engaging content, and most perceived culture as anthropological/ sociological. Of the diverse categories included, music emerged as the most popular cultural activity.
The report is based on a survey of 500 people, which included school and college students, professionals across sectors, homemakers and senior citizens. The first initiative of its kind in the cultural space, the report shares valuable insights into the behaviour and expectations of Indian audiences engaging with a broad range of cultural activities. As part of MAP's mission to foster meaningful connections between communities and the cultural sector globally, which includes its innovative digital programme Museums Without Borders, the report shares a wealth of insights that can help museums across the country understand their audiences better. As much as 60.6 per cent said Indian museums are not experimental enough, and can do more to create engaging content that is also relevant to surrounding communities.As much as 60.6 per cent said Indian museums are not experimental enough, and can do more to create engaging content that is also relevant to surrounding communities.
As much as 60.6 per cent said Indian museums are not experimental enough, and can do more to create engaging content that is also relevant to surrounding communities. | Photo by Annie Spratt on Unsplash
Speaking on the recent report, Kamini Sawhney, Director, Museum of Art & Photography (MAP), said, "MAP is focused on changing the notion of a museum in India, by enabling more relevant and inclusive programming, both online and in our space in Bengaluru. The audience research commissioned by MAP, and conducted by the ReReeti Foundation, provides valuable, and actionable insights which we hope will help museums across the country better understand their consumer base, improve decision making and deepen social impact." As much as 62.3 per cent college students and 47.6 per cent professionals/homemakers perceive culture as anthropological and sociological. Music was the most popular cultural event likely to be attended, followed by heritage tours and plays/comedy shows for Indian audiences.
Over 70 per cent of college students visit museums with family and friends; working professionals, homemakers and senior citizens also predominantly visit with groups/ spouses (indicating a need to focus on increased group programming/facilitation). As much as 68 per cent of people were optimistic about going outdoors for activities and events in 2021. As much as 60.6 per cent said Indian museums are not experimental enough, and can do more to create engaging content that is also relevant to surrounding communities.(IANS/MBI)
Keywords: Art, Culture, India, Museum, Music
What is the best way to save Goa from deforestation?
Drinking feni, may well be the answer, says the secretary of the Goa Cashew Feni Distillers and Bottlers Association Hansel Vaz, who on Thursday said, that sipping the state's unique alcoholic drink and making it popular would directly aid the greening of Goa's hills and other barren landscapes.
"To get more cashews, we need to plant more trees. I always say, by drinking feni you will save Goa, because we will be planting more cashew trees and we will have greener hills. The beauty of cashew is you do not need fertile land. You can grow it on a hill which can provide no nutrition. We will be able to grow more trees, if we can sell feni properly," Vaz said. Vaz's comments come at a time when the hillsides of the coastal state have witnessed significant deforestation for real estate development and for infrastructure projects. Feni is manufactured by fermenting and double distilling juice from the cashew apple.
Best way to keep Goa green is to grab yourself a glass of feni. | IANS
Addressing a press conference in Panaji, Vaz also said that the promotion of feni was also in sync with the Prime Minister's vision for India to go "vocal for local". "There is no conglomerate, multinational company owning the drink. So every time we sell feni, it is a direct cash injection into Goa. If you sell a feni cocktail in Calangute (a popular beach village), it makes a direct impact in Valpoi and Bicholim, because this money is going down there," the Association official said at a press conference in Panaji.
The Association held the media briefing to announce a road map ahead for the feni industry, especially vis a vis streamlining aspects related to production, standardisation and marketing of the brew to make it popular in other Indian states and abroad.
The efforts to streamline the state "heritage drink" comes a month after the Goa government notified a formal policy, 'Goa Feni Policy 2021', which covers 26 different varieties of feni distilled in the state. "There were many barriers related to feni, which the policy has now addressed," treasurer of the Association Tukaram Haldankar said. One such hurdle was the previous government classification, which described feni as "country liquor", which would deter tourists from purchasing the drink. The reclassification of feni as a state "heritage drink" has lent dignity to the brew which has been manufactured locally in Goa since the 16th century.
But there is more the government can do, along with the state's traditional distillers and manufacturers to promote feni, Haldankar said. | Photo by Ishvani Hans on Unsplash
But there is more the government can do, along with the state's traditional distillers and manufacturers to promote feni, Haldankar said. "We request the government to allow the sale of feni in duty free stores in airports and cruise liner terminals. The government should also support us through the department of Tourism, so that feni can be promoted in its programmes. iIf you go to Scotland, they promote Scotch. Goa should promote its feni to Goa," Haldankar said, adding that traditional distillers should also be given subsidies and other measures should be taken to standardise feni, which he said, "would require further subsidies and financial assistance from the government".
"It should be a standard product like scotch, champagne," Haldankar said. "Like Mexico's tequila, Russian vodka and Japan's sake, we need to export our feni across the country and the world and the local distillers should also benefit economically," president of the Association Gurudutt Bhakta also said. (IANS/ MBI)
Keywords: deforestation,cashew,distillers,association,government, goa, feni, India