Siliconeer :: A General Interest Magazine for South Asians in U.S.

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Asian Realtors Meet Draws over 800 Attendees | Free Travel Credits by Vayama | Global Hub | Airline Codesharing

Asian Realtors Meet Draws over 800 Attendees

Participants of the recent convention of the Asian Real Estate Association of America in Las Vegas.

Asian Americans are an important and growing segment of prospective homebuyers—quite possibly representing the antidote to a down real estate market—according to leading bankers, mortgage brokers and other real estate professionals who spoke at the recent convention of the Asian American Real Estate Association, the leading trade organization committed to closing the homeownership gap for Asian Americans. More than 800 participants from around the world attended the event.

Top economists Douglas Duncan, of the Mortgage Bankers Association, and Lawrence Yun, of the National Association of Realtors, provided a forecast to help position businesses for success in the changing real estate environment. Carmela Ma, AREAA board member and convention co-chair, facilitated a panel of high-ranking real estate and finance leaders from China, India, Japan, Korea, Singapore, and Thailand to share the opportunities and challenges of dynamic growth in Asia.

Asian American homeownership has experienced the most rapid growth among all ethnic groups over the past three decades. In 2000, the Asian American homeownership rate was 52.9 percent. By 2005, the rate jumped to almost 60 percent. No population, including non-Hispanic whites, has attained such rapid growth in homeownership, according to AREAA.

In fact, experts estimate the rapidly growing purchasing power of Asian Americans will reach nearly $600 billion by the end of the decade.

Today’s real estate and mortgage industry cannot ignore these facts, says Emily Moerdomo Fu, chairman of AREAA. At a time when the housing industry as a whole is facing significant changes, it is these demographic shifts, combined with the robust international real estate environment, that are creating opportunities for economic growth.

“From the housing industry’s perspective, the Asian American housing market could be one of the most profitable business lines that the market can pursue,” Fu said.

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Free Travel Credits by Vayama

Vayama, a Web site dedicated to international travel, is giving away thousands of dollars worth of free travel credits as it launches its new promotion, the Vayama Win-Win Event, according to a press release. Eight winners will be selected in a drawing to receive free travel credits towards a future international trip purchase on vayama.com.

Anyone who purchases a ticket through Vayama from now till January 31, 2008 is eligible to enter into the Vayama Win-Win Event drawing.

All qualified individuals can log onto vayama.com/promo and complete a simple entry form to enter into the drawing. One first place winner will receive a $1,000 travel credit, two 2nd place winners will receive a $250 travel credit each, and five 3rd place winners will each receive a $100 travel credit towards a future purchase on vayama.

Winners will be announced in early February 2008.

Vayama is a first-of-its-kind web site dedicated exclusively to international travel. It offers price and booking capabilities for all available international air travel to 191 countries, including airlines, fares and routes that travelers never knew existed. Vayama was developed by travel experts with decades of experience in the industry backed by a team of top engineers based in Silicon Valley. Vayama is an operating unit of Airtrade International Inc, which is a subsidiary of BCD Holdings, one of the world’s leading travel logistics and financial services companies. Interested readers will find more information at www.vayama.com.

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Global Hub

Energy-Guru.com, a leader in global hub for renewable energy, has launched its site, it announced in a press release. Energy-Guru.com is a one stop shop for consumers seeking renewable energy related information and request free quotes for their needs. Suppliers trade their products and services with other global players.

Due to recent developments in solar, small-wind, geothermal, biomass technologies, consumers as well as small businesses can participate in generation of renewable energy. After consumers submit a request for a quote for desired renewable energy project, energy-guru.com gets best information about related suppliers, their pricing. New technologies and federal and state incentives are also making renewable energy projects financially viable and compete with conventional energy.

By definition, renewable energy is "clean" - producing few or no hazardous emissions or pollutants, and having minimal impact on fragile ecosystems. There are five main types of renewable energy: hydro, biomass, geothermal, solar and wind. In addition to the obvious environmental benefits, green power has major economic advantages as well.

Umesh Choori, president and co-founder of Energy Guru, has a bachelor's degree in chemical engineering from the Indian Institute of Technology, Kharagpur, an M.S. degree in Environmental Engineering from Univ. of Oklahoma and an MBA from Univ. of Michigan, Ann Arbor.

Geetanjali Patil, CEO & co-founder, has a masters in electrical engineering.

More information is available at www.energy-guru.com

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Airline Codesharing

American Airlines, a founding member of the global Oneworld Alliance announced that it has applied to the United States Department of Transportation for authorization to begin codeshare cooperation with Jet Airways. The application proposes that code sharing operations begin on Jan. 16, 2008.

Under the proposal, American would place its AA designator code on Jet Airways flights to certain cities in India beyond the Jet Airways Delhi hub. American flies nonstop between its Chicago hub and Delhi.

In turn, Jet Airways would place its 9W designator code on certain American Airlines domestic flights out of New York’s John F. Kennedy Airport.

In addition, American and Jet Airways will codeshare and cooperate on traffic between the United States and India that connects at Brussels Airport.

“Jet Airways is a fast-growing, world-class airline that will provide our passengers additional choices and convenient service to points in India, including those beyond Delhi,” said Henry Joyner, American’s senior vice president. “We also look forward to serving Jet Airways passengers with convenient, easy connections on our American flights in many of our North American markets served from JFK. Both American and Jet Airways operate out of American’s new $1.3 billion state-of-the-art terminal at JFK.”

Joyner also noted that American hopes to expand its codeshare cooperation with Jet Airways on other routes in the months and years ahead.

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