Author: Jerome Anthony

Indian Railways to operate record 9,000 plus train trips as massive travel rush expected this summer

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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To accommodate an increasing number of travellers seeking summer getaways, the Indian Railways has announced a significant surge in train operations this season. With a remarkable 43% increase compared to last year. The Railways Ministry said that a record 9,111 train trips are slated to run during the summer period.

This rise from the 6,369 train trips offered in the summer of 2023 will meet passenger demands effectively. The additional trains have been strategically planned to connect key destinations across the country, facilitating seamless travel on major railway routes.

Taking cognisance of the anticipated surge in travel demand during summer, Indian Railways is operating 9,000+Summer Special Train trips to ensure smooth and comfortable travel for passengers.

Read: https://t.co/5gi3Kt0c0w pic.twitter.com/K86Ey6BsIn

— Ministry of Railways (@RailMinIndia) April 19, 2024

Leading the pack, the Western Railways will operate the highest number of trips at 1,878, followed by the North Western Railway at 1,623 trips.

Also read: First train to longest route, 5 facts about Indian Railways

Anticipating the summer travel rush, all zonal railways have geared up to operate these additional trips, catering to passengers from various states across India.

The ministry, which continuously monitors passenger demand through various channels including media reports, social media platforms, and helpline services, ensures dynamic adjustments to the number of trains and trips throughout the season.

Also read: India starts working on indigenous bullet train with speeds exceeding 250 km per hour

In addition to expanding train services, the ministry has directed zonal railways to ensure the availability of drinking water at railway stations and has implemented elaborate crowd control measures to regulate passenger flow effectively. With the deployment of RPF personnel and the coordination of GRP and RPF at foot-over bridges, Indian Railways aims to provide a safe and comfortable travel experience for all passengers during the summer season.

Tickets for these additional trains can be booked through railway ticket counters or the IRCTC website/app.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Mahavir Jayanti on April 21: Vasai Virar Municipal Corporation bans meat slaughter on Sunday; fish sale allowed

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The Vasai Virar Municipal Corporation has declared a ban on meat slaughter on Mahavir Jayanti, which falls on Sunday (April 21). A notification Issued by the solid waste management department, outlined the prohibition on mutton, chicken, beef and pork slaughter with an exception for fish sale.

This is the first such ban on Mahavir Jayanti that the civic body has implemented since its inception in 2009. The move follows a request made by the Jain community, the notification read. According to a Times of India report, meat vendors have stressed that they will face potential revenue losses as Sundays traditionally witness heightened demand for meat.

Mahavir Janma Kalyanak or Mahavir Jayanti, is one of Jainism’s most-cherished festival that commemorates the birth anniversary of Lord Mahavir, the 24th and final Thirthankara of Jainism.

Lord Mahavir, revered as a teacher who propagated Dharma within Jainism, is believed to have entered the world on the Trayodashi (the 13th day) of the Shukla Paksha (the bright half) of the Hindu month of Chaitra, which traditionally falls in March or early April according to the Gregorian calendar.

Observed with fervour by Jains worldwide, Mahavir Jayanti is characterised by religious processions, prayers, chants, and sermons, serving as a day of celebration and introspection as devotees recommit themselves to the teachings of Lord Mahavir.

Mahavir Jayanti 2024: Date and Time

As Jains mark the 2622nd birth anniversary of Lord Mahavir this year, festivities will commence on April 20 at 10:41 pm and conclude on April 22 at 1:11 pm, according to the Panchang. Udaya, or daybreak, of Mahavir Jayanti will be observed on April 21, 2024.

So far the BMC has not implemented any such ban in Mumbai.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

After ‘India Out’ campaign by Maldives, visitors to island nation plummet

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Indian tourists visiting Maldives have almost halved following the diplomatic stand-off between the two nations. According to reports, in the first quarter of 2023, just 34,847 Indian visitors travelled to the Maldives, a significant decrease from the 56,208 tourists who visited the island nation during the same period last year. This 38% decline is lower than the figures from the first quarter of 2019, when 36,053 Indian tourists visited the country.

After COVID-19 restrictions were lifted, India remained the primary source market for Maldives between 2021-23. However, this year has witnessed considerable decline, after Indians started a boycott Maldives campaign after alleged derogatory remarks were made against Prime Minister Narendra Modi.

In the past few months that followed, there have been quite a few developments between India and Maldives. Nonetheless, this decline in Indian visitors travelling to Maldives coincides with the “India Out” campaign led by Maldivian President Mohamed Muizzu. The issue gained attention after Prime Minister Narendra Modi’s visit to the Lakshadweep islands in January 2024. Not only social media influencers but travel agencies and celebrities joined the trend and urged Indians not to travel to Maldives for vacations.

Also read: People in Maldives miss Indian tourists; are sorry and urge them to return amid diplomatic row

As relations between Maldives and India soured, Indian military personnel stationed in the neighbouring country, who operated a Dornier aircraft gifted by India, left nation on April 9.

Under an earlier agreement, New Delhi agreed to replace Indian military personnel with trained civilians to oversee the operations of military aircraft gifted to Male. Nonetheless, Muizzu reiterated his commitment to removing all Indian soldiers from Maldives.

Amid developments over the past few months, Muizzu reaffirmed his stance on foreign influence in Maldives, asserting that the ultimate power rests with the citizens and not with foreign ambassadors, which highlighted the shifting dynamics in the region.

Despite these geopolitical shifts, the Maldives remains a crucial maritime neighbour for India in the Indian Ocean Region (IOR). It holds significance in India’s strategic initiatives like ‘SAGAR’ (Security and Growth for All in the Region) and the ‘Neighborhood First Policy.’

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Israel-Iran tensions: Air India suspends flights to Tel Aviv until April 30

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Tata Sons-owned Air India has decided to extend the suspension of flights to the financial capital of Israel, Tel Aviv until April 30. In a post on social media platform X, Air India said, “Our flights to and from Tel Aviv will remain suspended until 30th April 2024, in view of the emerging situation in the Middle East.”

Air India further said, “Continuously monitoring the situation and extending support to passengers who have confirmed bookings for travel to and from Tel Aviv. Offering one-time waiver on rescheduling and cancellation charges to affected passengers.”

Our flights to and from Tel Aviv will remain suspended until 30th April 2024, in view of the emerging situation in the Middle East. We are continuously monitoring the situation and are extending support to our passengers who have confirmed bookings for travel to and from Tel Aviv…

— Air India (@airindia) April 19, 2024

Earlier, the flight suspension by Air India to Tel Aviv was until April 20. However, after alleged fresh air strikes by Israel on Iran today, Air India decided to extend the suspension of flights. Air India has thrice weekly flights to and from Tel Aviv.

Air India on April 14 had temporarily suspend flights to Tel Aviv amid escalating tensions between Israel and Iran. An official said the direct flights between Delhi and Tel Aviv will be suspended for now.

Air India operates four weekly flights between the national capital and Israeli city. The Tata group-owned carrier recommenced services to Tel Aviv on March 3 after a gap of nearly five months.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Saudi Arabia hunts for cash to fund projects under $1.5 trillion Neom desert city

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Saudi Arabia’s Neom City is planning its debut riyal bond sale later this year as it looks for more sources of funding for its $1.5 trillion construction projects it’s planned for the futuristic city, according to people familiar with the matter.

Neom has appointed banks including HSBC Holdings Plc and the securities units of Al Rajhi Bank and Saudi National Bank to advise on the sale of Islamic bonds, or sukuk, the people said. The debt would be denominated in the local currency and could raise as much as 5 billion riyals ($1.3 billion), they said, asking not to be identified as the information is private.

The sukuk sale could come as early as the second half of this year, the people said. A final decision on the timing and offering size will depend on market conditions, they added.

Representatives for Neom, HSBC and Saudi National Bank declined to comment, while a spokesperson for Al Rajhi Bank did not respond to a request for comment.

We kicked off the China leg of our global Discover NEOM tour with showcases in Beijing and Shanghai 🇨🇳

With over 500 senior business and industry leaders in attendance, we highlighted investment opportunities and important milestones.

Learn more: https://t.co/KS6aypC8ki#NEOM pic.twitter.com/xqhtGHAEy8

— NEOM (@NEOM) April 17, 2024

Also read: Saudi Arabia mega city Neom to run entirely on renewable energy; here is the roadmap

The city, located in the kingdom’s northwestern desert, is a brainchild of Crown Prince Mohammed bin Salman. The development’s signature project is The Line, a pair of mirror-clad skyscrapers that the kingdom hopes will ultimately stretch 170 kilometers and house all of a city’s normal functions. Neom’s plans also include an industrial area, ports and tourism developments.

Most of the development’s funding so far has come in the form of equity injections from its owner, Saudi Arabia’s sovereign wealth fund, which is led by Crown Prince Mohammed. But to pull off the ambitious project, Neom’s developers have been hunting for new forms of cash in recent months.

Neom recently secured a 10 billion-riyals loan from a group of Saudi banks, according to two other people familiar with the deal. The project’s developers have also raised a 3 billion-riyal loan to finance Sindalah, a luxury tourism island in the Red Sea.

Also read: FICCI holds first Indian delegation of 17 CEOs in Saudi Arabia’s iconic Neom City

Scaling Back
Saudi Arabia has scaled back its medium-term ambitions for The Line, people familiar with the matter told Bloomberg earlier this month. While the government at one point hoped to have 1.5 million residents living in The Line by 2030, it now expect the development will house fewer than 300,000 residents by that time.

The plans to pursue a sukuk sale comes as the Public Investment Fund, as the kingdom’s main state fund is known, has been considering plans to accelerate debt sales of its own and by its subsidiaries. The PIF has also considered obtaining bank loans or offering up equity in the companies it controls as it hunts for new sources of cash.

The PIF’s effort to obtain more cash comes as total spending by the fund is set to top $70 billion a year after 2025, up from current levels of about $40 billion to $50 billion a year.

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Amsterdam bans construction of new hotels to fight overtourism

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Amsterdam, the capital of The Netherlands has banned the construction of new hotels to battle overtourism. The city’s council in a X post said on Wednesday (April 17), “Our aim is to maintain the city’s livability for both residents and visitors. This entails: combating over-tourism, halting new hotel developments, and capping tourist hotel stays at 20 million annually.”

According to reports, a new hotel will only be built in the tourist capital of Europe if another hotel shuts down. According to a release shared by the city council, if the total sleeping accommodations remain unchanged, and if a new establishment improves upon existing standards, such as enhanced sustainability, then it will be allowed to be built. The new regulation excludes hotels that have already obtained construction permits.

🏨❌ We zegen ‘nee’ tegen nieuwe hotels.

We willen de stad leefbaar maken én houden, voor bewoners en bezoekers. Dat betekent: geen overtoerisme, geen nieuwe hotels erbij, en niet meer dan 20 miljoen hotelovernachtingen door toeristen per jaar. ⤵️https://t.co/VILooYb30j

— Gemeente Amsterdam (@AmsterdamNL) April 17, 2024

The city has been actively pursuing measures to curb tourist influx, which reaches millions annually, primarily by discouraging sex and drug-related tourism in its red-light district.

Intentions of tourists visiting the Dutch capital have been repeatedly questioned by locals. In 2023, a staggering 49.7 million guests chose accommodations in hotels, campsites, and holiday parks across The Netherlands. This marked an 8.1 percent surge compared to 2022, setting a new record.

Also read | Top 10 city destinations of 2023: Paris was most-visited place, No 2 will surprise you

It has set a new threshold of 20 million as the maximum number of overnight hotels stays by tourists the city is prepared to accommodate each year.

Often hailed as a paradise for sex enthusiasts, The Netherlands is one of the most popular global sex tourism destinations. Prostitution is legal and regulated in the country. De Wallen in Amsterdam stands out as the largest and most famous red-light district, attracting international sex tourists seeking cubicle-based experiences.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Canadians advised not to travel to India during 2024 general elections

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Canada has advised its citizens against travelling to India between May and June 2024, when the world’s largest democracy will hold its general elections to elect the country’s ruling party. According to the advisory issued by the Canadian government, citizens have been asked to “exercise a high degree of caution in India due to the threat of terrorist attacks throughout the country.

The advisory mentioned cities like Bengaluru, Chandigarh and Mumbai should be avoided for non-essential travel. “Consular services in-person are temporarily unavailable in those cities or surrounding areas. If you need consular services, contact the High Commission of Canada in India, located in New Delhi. At any time, you may also contact the Emergency Watch and Response Centre in Ottawa,” the advisory read.

Moreover, Canadians have been advised against travelling to parts of Northeast India, including Assam and Manipur and sensitive border areas of the country.

Recently, Canada trimmed the number of diplomatic personnel deployed in New Delhi and other parts of the country and the Justin Trudeau-led government said that staff had been reduced to “effectively manage in-country operations.”

In September 2023, India had temporarily suspended visa services to Canadian citizens amid a diplomatic standoff between the two nations. There were speculations at the time about Canada retaliating with a similar visa suspension.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Check why arbitrage funds are better alternatives than fixed deposits

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Arbitrage funds, also known as equity-oriented hybrid funds, have become increasingly popular among investors in recent times. One of the key reasons for this is that they are a better alternative to fixed deposits.

In this article, we’ll take a closer look at why arbitrage funds are better than fixed deposits. Fixed deposits have long been a popular investment option for people looking to earn a fixed rate of return on their savings.

However, the interest rates offered by banks on fixed deposits have been declining over the years. In today’s low-interest-rate environment, finding an investment option that offers attractive returns while managing risk can be challenging.

This is where arbitrage funds come into the picture. These funds invest in both equity and debt securities, with a focus on taking advantage of the price differentials between the cash/spot and derivatives/future markets. By doing so, they aim to generate returns that are higher than the prevailing interest rates on fixed deposits.

One of the key advantages of arbitrage funds over fixed deposits is that they offer higher returns. The returns from arbitrage funds are typically in the range of 6-8% per annum, which is significantly higher than the interest rates offered by banks on fixed deposits.

Moreover, arbitrage funds are tax-efficient, as they are classified as equity funds and are therefore eligible for long-term capital gains tax benefits. Another advantage of investing in arbitrage funds is that they offer greater flexibility than fixed deposits. Fixed deposits typically have a lock-in period, which can range from a few months to several years, depending on the type of deposit. During this period, investors cannot withdraw their funds without incurring a penalty.

In contrast, arbitrage funds have no lock-in period, and investors can withdraw their funds at any time without penalty. In addition to offering higher returns and greater flexibility, arbitrage funds are also considered to be less risky than fixed deposits. While fixed deposits are one of the safest investment options, they are not entirely risk-free. In contrast, arbitrage funds are invested in a diversified portfolio of securities, which helps to manage risk.

In conclusion, while fixed deposits have been a popular investment option for many years, declining interest rates have made them less attractive in today’s environment. Arbitrage funds, on the other hand, offer higher returns, greater flexibility, and less risk. Therefore, if you are looking for an investment option that offers attractive returns while also managing risk, you may want to consider investing in arbitrage funds.

Note: This is a partnered post authored by Shalab Gupta, Founder of Bibhab Capital.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow