5 Minutes Read

Centre got over 65.25 crore Covishield doses, 9.1 crore Covaxin jabs till September 19

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

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Summary

The Centre has received over 65.25 crore Covishield doses from Serum Institute of India and 9.1 crore doses of Covaxin from Bharat Biotech till September 19, according to official documents. The SII has informed the government that it will be able to supply around 22 crore doses of Covishield in October.

The Centre has received over 65.25 crore Covishield doses from Serum Institute of India and 9.1 crore doses of Covaxin from Bharat Biotech till September 19, according to official documents. Serum Institute of India (SII) has supplied 20.29 lakh doses of Covishield to the Union Ministry of Health in September as committed in August by Prakash Kumar Singh, Director, Government and Regulatory Affairs at the Pune-based firm.

The SII has informed the government that it will be able to supply around 22 crore doses of Covishield in October. The Centre has announced resuming the export of surplus vaccines in the fourth quarter of this fiscal under the ‘Vaccine Maitri’ programme to meet its commitment to the COVAX global pool, official sources said. The Pune-based pharmaceutical company has enhanced its Covishield manufacturing capacity to more than 20 crore doses per month.

Singh has also assured the government that by December 31, the Pune-based firm will complete the supply of 66 crore doses of Covishield against the recent order and will touch supplies of more than 130 crore doses in the year 2021. The cumulative doses administered in the country so far under the nationwide COVID-19 vaccination drive has exceeded 89 crore.

Union Health Minister Mansukh Mandaviya on September 20 announced that India will resume export of surplus COVID-19 vaccines in the fourth quarter of 2021 under the ‘Vaccine Maitri’ programme and to meet its commitment to the COVAX global pool, but vaccinating its own citizens remains the topmost priority of the government. About the expected production and supply trends in the coming months, the minister said the government will receive over 30 crore doses of COVID-19 vaccines in October and over 100 crore doses in the upcoming quarter from October-December.

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

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Tracking the pulse of global markets: Return of reflation trade or a regime change?

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

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Summary

It is time to focus on the global picture because at the margin India has outperformed global markets in a big way this year.

After climbing steadily for much of the year, the global markets have became muddled in the recent weeks as investor optimism dipped with the spread of the more contagious delta variant of coronavirus, a spike in treasury yields, and the Federal Reserve’s hawkish tilt.

The investors on Wall Street were also saddled with budget wrangling in Washington besides the concerns over COVID-19. The Street closed sharply lower Thursday with S&P 500 posting its worst month since the onset of the coronavirus pandemic.

While the approval of a stopgap spending bill to prevent a US government shutdown lent some support to benchmarks on Thursday, the stocks quickly resumed their downtrend, dragging even the Nasdaq into the red after it traded higher most of the day.

Benchmark S&P 500 fell over 1 percent and the Dow Jones Industrial Average slumped over 1.5 percent. Nasdaq also declined half a percent.

“The market’s been resilient, but the risk tied up in the policy headlines over the debt ceiling, the chaos around these spending bills is weighing on the markets a bit as the quarter comes to a head,” said Ross Mayfield, investment strategy analyst at Baird told Reuters.

This was the first monthly drop since January for S&P 500, and the biggest since March 2020. This week, the index slumped over 3 percent and Nasdaq slumped over 4 percent.

“In a larger context, it’s been pretty mild. We’re coming on the heels of seven ‘up’ months and volatility’s been fairly muted despite the headline risks, not to mention COVID-19 and tapering,” Mayfield added. “The market had to take a pause, and a pause is necessary and probably to be expected.”

Elsewhere in Europe, the markets fell almost one percent, tracking Asian and US counterparts. The pan-European index, Stoxx 600 was down almost one percent on Friday. This index closed September down 3.4 percent, ending a seven-month winning streak. Shares in Asia suffered too on Friday. Japan slid over 2.5 percent and Indian markets slumped half a percent Friday.

At the margin, though India has outperformed global markets this year. But if the global picture muddles, it can lead to periods of sideways movement, choppiness, volatility and risk-off.

And while headline indices on Wall Street may be slipping, Russell 2000, which is made up of mostly economy facing domestic smaller companies is doing relatively well. While Nasdaq is down over 4 percent for the week, Russell is down only 2 percent.

And experts are saying, this performance of economy-facing part of the market kind of smells like reflation is back.

When economies recovered from the setback of the coronavirus outbreak and the resulting lockdowns, the measures of inflation ticked higher. That got analysts talking about reflation. Reflation occurs when economies witness recovery after a broad contraction.

But the question we face is, is this the correct interpretation? Because the backdrop could have started to change meaningfully. One view is, global growth has peaked. And the central banks are preparing the markets for a withdrawal of liquidity. On top of that, we have the factors pointing to a slowdown in China, it started slowly but seems to be picking pace now. Most of it might be self-imposed but it is what it is: the second-largest economy is slowing down.

So, take the cocktail of peak growth, lower earnings revisions, at the margin tighter monetary policy. And then throw in higher energy prices in the mix. All of it tells us maybe it is not a very clean backdrop for undisrupted upmove like the ones we have seen this year. And from here, the picture might get a little more muddled and volatile.

Watch the accompanying video of CNBC-TV18’s Prashant Nair for more details.

(With inputs from agencies)


Also Read | US Fed tapering in November less likely if market falls: Bank Julius Baer


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

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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

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

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Delhi records 5 COVID-19 fatalities in September; total death toll stands at 25,087

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

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Summary

Five fatalities due to the infection were reported in the last month, one each on September 7, September 16 and September 17, and two on September 28, according to official figures. The death toll due to COVID in Delhi stands at 25,087.

Five fatalities due to the coronavirus infection were reported in September in Delhi amid a reduction in the number of COVID-19 cases recorded in the national capital, according to official figures. On September 30, the city recorded zero death due to COVID-19 and 47 cases with a positivity rate of 0.06 percent, according to data shared by the city health department.

Five fatalities due to the infection were reported in the last month, one each on September 7, September 16 and September 17, and two on September 28, according to official figures. The death toll due to COVID in Delhi stands at 25,087.

On Wednesday, 41 cases were recorded with a positivity rate of 0.06 percent. On Tuesday, 34 cases were reported with a positivity rate of 0.05 percent, and two deaths were recorded. The number of cumulative cases on Thursday stood at 14,38,868. Over 14.13 lakh patients have recovered from the virus.

A total of 72,386 tests — 50,425 RT-PCR tests and 21,961 rapid antigen tests — were conducted a day ago, the Thursday bulletin said. The daily case count had dropped to 17 on September 13, with no death being recorded, while the positivity rate stood at 0.04 percent, according to official figures.

Despite fall in daily cases in the last several days, Chief Minister Arvind Kejriwal had recently cautioned that the chances of the third wave of the COVID-19 pandemic were quite real, while he asserted that his government was preparing on a “war-footing” to combat it. Delhi had been reeling under a brutal second wave of the pandemic that is sweeping the country, claiming a massive number of lives daily, and the oxygen supply shortage issue at various hospitals had added to the woes.

While reported cases here may have reduced in the last two months, the city government has said that it will keep itself prepared to meet any future challenges. Delhi Health Minister Satyendar Jain recently had said that medical infrastructure was being ramped up and 37,000 beds dedicated for COVID-19 patients were being set up to tackle the anticipated third wave of the pandemic in the city.

A few days later, he had said that the number of coronavirus cases had also been under control for the last two months, and together the society and government can strive and win over it, by following all COVID-appropriate behaviours. The number of active cases slightly increased to 400 on Thursday from 392 a day before, the bulletin said.

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

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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

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

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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DU admission 1st list: SRCC, Hindu, Hansraj, 5 other colleges issue 100% cut-off for these courses

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

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Summary

DU will release the first cut-off list later on October 1 with college principals saying that the cut-offs are going to soar higher this year than the last time with over 70,000 students scoring above 95 percent in CBSE class 12 board exams.

The Delhi University on Friday released the first cut-off list while various colleges also announced their individual cut-off list for admission to various under-graduation courses. The compiled lists are available on the official website du.ac.in.

Delhi University‘s Jesus and Mary College has pegged the cut-off for BA (Hons) Psychology at 100 percent for those who do not include the subject while calculating their best of four percentage. The cut-off for students who will include the subject in their best of four subjects (BFS) marks is 99 percent.

The cut-off for BA (Hons) Economics is 98.5 percent, BA (Hons) English 99 percent, B.Com (Hons) and B.Com stand at 98 percent and 97.25, respectively.

According to media reports, Hansraj College issued 100 percent cut-off for Computer Science(H) programme. For the Economics and BCom (H) courses, the cut-off stood at 99.75 percent. The college is yet to issue the complete list.

Other colleges that declared 100 percent cut-off are:

  • Shri Ram College for Commerce (SRCC) for BA (Hons) Economics and BCom Honours
  • Hindu College for Political Science Honours
  • Ramjas College for Political Science Honours and for a combination of BA programme
  • SGTB Khalsa College for BCom
  • Hansraj College for BSc (Hons) Computer Science
  • Shaheed Sukhdev College of Business Studies for BSc (Hons) Computer Science
  • Deen Dayal Upadhyay College for BSc(Hons) Computer Science
  • Jesus and Mary College for BA(Hons) Psychology

Delhi University will release the first cut-off list later in the day with college principals saying that the cut-offs are going to soar higher this year than the last time with over 70,000 students scoring above 95 percent in CBSE class 12 board exams.

The admission process for the first cut-off list will begin from October 4 and conclude on October 6. The second cut-off list will be released on October 9 and the third list on October 16.

With inputs from PTI

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

 Daily Newsletter

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

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Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Climate change causing drop in brightness of Earth: Study

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

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Summary

Warming ocean waters have caused a drop in the brightness of the Earth, according to a study published in the journal Geophysical Research Letters. It also found that our planet is now reflecting about half a watt less light per square metre than it was 20 years ago. The study used decades of measurements of …

Warming ocean waters have caused a drop in the brightness of the Earth, according to a study published in the journal Geophysical Research Letters. It also found that our planet is now reflecting about half a watt less light per square metre than it was 20 years ago.

The study used decades of measurements of earthshine, the light reflected from Earth that illuminates the surface of the Moon.

The researchers also analysed satellite measurements, finding that there has been a significant drop in Earth’s reflectance, or albedo, over the past two decades. They found that Earth is now reflecting about half a watt less light per square metre than it was 20 years ago, with most of the drop occurring in the last three years of earthshine data.


Also Read | How a drowning girl statue in Spain got people talking about climate change


That is the equivalent of a 0.5 percent decrease in the Earth’s reflectance, according to the researchers. Earth reflects about 30 per cent of the sunlight that shines on it, they noted.

“The albedo drop was such a surprise to us when we analysed the last three years of data after 17 years of nearly flat albedo,” said Philip Goode, a researcher at New Jersey Institute of Technology and the lead author of the study. Goode was referring to the earthshine data from 1998 to 2017 gathered by the Big Bear Solar Observatory in Southern California.

When the latest data were added to the previous years, the dimming trend became clear, the researchers said. They noted that two things affect the net sunlight reaching the Earth: the Sun’s brightness and the planet’s reflectivity.

The changes in Earth’s albedo observed by the researchers did not correlate with periodic changes in the Sun’s brightness, meaning changes in Earth’s reflectiveness are caused by something on the Earth.

There has been a reduction of bright, reflective low-lying clouds over the eastern Pacific Ocean in the most recent years, according to satellite measurements made as part of NASA’s Clouds and the Earth’s Radiant Energy System (CERES) project.


Also Read | Explained: How NASA’s Landsat 9 satellite will help combat climate change


That is the same area where increases in sea surface temperatures have been recorded because of the reversal of a climatic condition with likely connections to global climate change, according to the researchers. The dimming of the Earth can also be seen in terms of how much more solar energy is being captured by Earth’s climate system, they said.

Once this significant additional solar energy is in Earth’s atmosphere and oceans, it may contribute to global warming, the researchers explained. This is because the extra sunlight is of the same magnitude as the total anthropogenic climate forcing, or a number of human-induced factors, over the last two decades, they added.

“It’s actually quite concerning,” said Edward Schwieterman, a planetary scientist at the University of California at Riverside who was not involved in the study. Many scientists had hoped that a warmer Earth might lead to more clouds and higher albedo, which would then help to moderate warming and balance the climate system, he said.

“But this shows the opposite is true,” Schwieterman added.


Also Read | In pics: India’s 10 most polluted cities according to WHO


 

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

 Daily Newsletter

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

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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China’s Belt and Road Initiative leaves developing nations with $385 billion in ‘hidden debts’: Report

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

 Listen to the Article (6 Minutes)

Summary

China has invested in both public and private projects in about 70 countries and organisations since 2013 under Xi Jinping’s BRI scheme. Once these countries declare their inability to pay back, China grabs their sovereign land for building military installations.

China’s Belt and Road Initiative (BRI) has left several lower- and middle-income nations with crushing ‘hidden debts’ (undisclosed liabilities), totalling $385 billion, according to a latest report.

AidData, an international development research lab based at Virginia’s College of William & Mary, came up with this figure after analysing 13,427 Chinese development projects, worth a combined $843 billion, across 165 countries over 18 years, ending 2017.

The report adds that China has invested in both public and private projects in about 70 countries and international organisations since 2013, when President Xi Jinping launched the BRI scheme.

The debts are ‘hidden’ as the World Bank or International Monetary Fund (IMF) aren’t aware of them, thanks to the way the Chinese loans are structured. The financial liabilities linked to the loans provided under China’s hallmark BRI scheme are intentionally under-reported to World Bank’s Debtor Reporting System. Instead of lending to state institutions, China often extends loans to private companies in lower- and middle-income countries.

Also read: Explained: Evergrande debt crisis and why it matters for global markets

Among the debt-ridden nations, over 40 lower- and middle-income countries have to pay back more than 10 percent of their national gross domestic product to China, the report estimates.

Additionally, these BRI projects often encounter implementation issues. The report points out that 35 percent of the BRI infrastructure projects face “corruption scandals, labour violations, environmental hazards, and public protests.”

The study comes at a time when global economic powers have expressed concern over China pushing smaller economies into so-called debt traps. Once these countries declare their inability to pay the huge debts, China grabs their sovereign land for building military installations.

Also read: Chinese foreign aid: Funding development or influence?

Compared to the US and other major economies, China spends at least twice as much on international development finance. The country’s per-year BRI investment has been pegged at $85 billion. These investments have “propelled China to global dominance in international development finance,” says the report.

In fact, the number of infrastructure projects, financed with loans worth $500 million or more, tripled during the first five years of the BRI rollout.

To counter China’s influence, the European Union recently rolled out Global Gateway, an infrastructure development scheme. The US too is planning to launch a similar scheme in South America.

Also read: US plans to launch B3W to counter China’s BRI: Check India’s stance on it

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

 Daily Newsletter

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

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Eurozone inflation at 13-year high as energy prices soar

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

 Listen to the Article (6 Minutes)

Summary

Eurostat said inflation came in at 3.4 percent for September, up from 3.0 percent in August and more than the 3.3 percent expected by market analysts. The overall inflation level, boosted by a jolting 17.4 percent increase in energy prices, is the euro area’s highest since 2008.

Sharply higher oil and gas prices helped push annual inflation in the 19 countries that use the euro to its highest in more than a decade, the European Union’s statistics agency said Friday.

Eurostat said inflation came in at 3.4 percent for September, up from 3.0 percent in August and more than the 3.3 percent expected by market analysts.

The overall inflation level, boosted by a jolting 17.4 percent increase in energy prices, is the euro area’s highest since 2008.

Higher prices for natural gas and electricity have spread concern among European governments, which are taking steps to limit rises in residential utility bills through subsidies and tax cuts.

Core inflation, which excludes volatile fuel and food, was more modest at 1.9 percent.

Despite higher recent inflation readings, the European Central Bank has indicated it has no plans to tighten monetary policy in response. The central bank sees higher inflation as the result of transient factors such as supply bottlenecks and statistical comparisons to extremely low energy prices a year earlier during the depths of the pandemic recession.

The bank predicts inflation will recede next year, and ECB President Christine Lagarde has said it will not overreact by scaling back its support measures for the economy in order to counter inflation that is only temporary.

Those measures include 1.85 trillion (USD 2.14 trillion) in bond purchases slated to run at least through March 2022, a step aimed at holding down market borrowing costs for companies.

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

 Daily Newsletter

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

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
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10 Questions · 5 Minutes
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Win WRX (WazirX token) worth Rs. 1500.
Question 1 of 5

What coins do you think will be valuable over next 3 years?

Answer Anonymously

Should Elon Musk be able to buy Twitter?

 5 Minutes Read

COVID-19 tests, quarantine mandatory for UK visitors arriving in India from Oct 4

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

 Listen to the Article (6 Minutes)

Summary

The regulations will come into effect from October 4, and will be applicable to all UK nationals arriving from the UK, sources told CNBC-TV18.

India on Friday decided to impose reciprocity on UK nationals arriving in India from the UK. The UK nationals will have to mandatorily undergo an RT-PCR test and observe quarantine for 10 days, irrespective of the vaccination status.

The regulations will come into effect from October 4, and will be applicable to all UK nationals arriving from the UK, sources told CNBC-TV18.

All UK nationals arriving in India from the UK will have to undertake the following measures:

  • Pre-departure COVID-19 RT-PCR test within 72 hours before travel
  • RT-PCR test on arrival at airport
  • RT-PCR test on day 8 after arrival
  • Mandatory quarantine at home or in the destination address for 10 days after arrival in India

The move came after the UK did not recognize the CoWIN certificate and Indian nationals will still have to take tests on arrival and quarantine for 10 days. There has been no change for Indian nationals since the country was moved to the amber list.

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

 Daily Newsletter

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

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

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Shanghai residents turn to NFTs to record COVID lockdown, combat censorship

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
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Question 1 of 5

What coins do you think will be valuable over next 3 years?

Answer Anonymously

Should Elon Musk be able to buy Twitter?

 5 Minutes Read

HFC phase-down: India can solve its cooling problem through collaborative R&D

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

 Listen to the Article (6 Minutes)

Summary

Cooling holds transformative potential for India. It offers us an opportunity to make our labour more productive and our farm supply chains more efficient.

India recently ratified the Kigali Amendment to the Montreal Protocol for the phase-down of hydrofluorocarbons (HFCs). HFCs have high global warming potential (GWP) and are primarily used as refrigerants in cooling applications. India’s decision could prevent emissions of about 105 million tonnes of CO2 equivalent (mtCO2 eq) and shave as much as 0.5°C off the rise in global average surface temperatures. Also, a transition away from HFCs is expected to offer opportunities for domestic innovation, production and manufacturing of alternative chemicals and technologies. What does all this mean for cooling and thermal comfort in India?

Access to cooling in India continues to be abysmally low. The India Cooling Action Plan (ICAP) estimates that only 8 per cent of Indian households have air conditioning. We also have one of the world’s lowest energy consumption levels for space cooling: just 69 KwH per capita. Further, the infrastructure gap in key components of India’s cold chain (such as pack-houses, reefer transport and cold chambers) is as high as 90 percent, according to the National Centre for Cold chain Development (NCCD). This causes 16 percent of India’s fruits and vegetables to go to waste each year, causing significant losses to producers—not to mention a multiplier effect in the form of wasted critical inputs like water and fertilisers. Be it global warming mitigation, protection from extreme heat events, or economic efficiency, every metric point to India’s need to enhance cooling and thermal comfort.

By deciding to phase down HFCs, we have given ourselves a chance to obliterate the climate impact of current and future cooling applications. To make the most of India’s massive cooling opportunity, we must invest in large-scale collaborative research, development and deployment (RD&D) of next-generation technologies. Doing so is essential for India to develop a multi-pronged strategy to meet its Kigali objectives and further decrease its energy and climate footprint. But how do we foster an atmosphere of innovation for driving advances in sustainable cooling?

First, scale up bilateral and multilateral technology cooperation to facilitate accessibility and capacity building in low-access and resource-poor regions. This will steer the focus to applied R&D: adapting technologies for specific purposes rather than developing them from scratch.

ALSO READ | DHFL Resolution: A feather in the cap of RBI and IBC

Second, make changes in the institutional framework for R&D in India to improve industry participation in public research programmes. It is important to incentivise both university researchers and their industry counterparts for effective collaboration. One way to do this on the academic front is by structuring incentives into tenures and appraisals for research professors.

Third, linking technological developments with disruptive business models could attract climate financiers and venture capital, fuelling further innovation. Hence, it is crucial to promote emerging business models such as Cooling as a Service (CAAS) and technologies like District Cooling, which create efficiency of use and lower barriers to access. We should begin by commissioning pilot projects to gauge their viability in different sectors.

Fourth, focus on developing and deploying low-cost technological solutions for communities facing extreme heat such as cool roofs and cooling hubs. In this regard, the role of end-consumers themselves is important for the successful adoption of cooling technologies. This calls for building trust and confidence between private players, government agencies, university researchers, and civil society organisations (CSOs), and ensuring that they work in concert with each other.

Fifth, provide R&D support to small and medium enterprises to enable their participation in local as well as international value chains. A Production-Linked Incentive (PLI) scheme approved in April 2021 seeks to address the issue of value chain localisation by supporting component manufacturing in the white goods sector (LEDs/consumer electronics like ACs and refrigerators). By combining manufacturing incentives and technology diffusion in the local value chains, the equipment manufacturers can achieve operational and technical flexibility and make it easier for Indian firms to further absorb new technologies.

Cooling holds transformative potential for India. It offers us an opportunity to make our labour more productive and our farm supply chains more efficient. It will also help us create jobs and growth through manufacturing. Our chance to act is now.

—Himanshu Dixit is a Research Analyst at the Council on Energy, Environment and Water (CEEW), an independent not-for-profit policy research institution. Views expressed are personal

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

 Daily Newsletter

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

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

Next Article

Shanghai residents turn to NFTs to record COVID lockdown, combat censorship

LIVE TV

today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
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Question 1 of 5

What coins do you think will be valuable over next 3 years?

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Should Elon Musk be able to buy Twitter?

 5 Minutes Read

Idli on a stick in India’s ‘innovation capital’ impresses Anand Mahindra

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

 Listen to the Article (6 Minutes)

Summary

Anand Mahindra tweeted out a picture of a Bangalore restaurant serving popsicle idlis with sambar-chutney dips. The image divided the traditionalists, realists, and the innovative while reaching thousands of likes and retweets. 

Anand Mahindra, the chairman of Mahindra and Mahindra, recently tweeted about an interesting take on a traditional south Indian meal — a popsicle idli with sambar-chutney dips. A restaurant in Bangalore is serving idli moulded around ice cream sticks so people can enjoy eating idli sambar without getting their hands dirty.

“Bengaluru, India’s innovation capital can’t stop its creativity from manifesting itself in the most unexpected areas… Idli on a stick — sambhar & chutney as dips…Those in favour, those against?” Mahindra tweeted with an image of idlis from the restaurant.

While idli and sambar, along with most other desi food, is usually eaten with hands, the innovative take on the south Indian staple by the restaurant both surprised and baffled many on social media.

Also read: We analysed the Twitter habits of Anand Mahindra and Harsh Goenka. This is what we found

While some said that idli in popsicle format would lead to wastage in the form of the sticks, others had more practical concerns about the viability of eating popsicle idli with sambar.

However, many others were keen to try the innovation.

The tweet from Mahindra has already garnered over 17,000 likes and nearly 1,400 retweets. Mahindra has become a prominent voice on Twitter, regularly interacting, and sharing content on the social media platform. With 8.5 million followers on the platform, his tweets often go viral.

Also read: This dosa maker is faster than robots, says Anand Mahindra. See video here

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

 Daily Newsletter

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

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

Next Article

Shanghai residents turn to NFTs to record COVID lockdown, combat censorship

LIVE TV

today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
Powered by
Are you a Crypto Head? It’s time to prove it!
10 Questions · 5 Minutes
Start Quiz Now
Win WRX (WazirX token) worth Rs. 1500.
Question 1 of 5

What coins do you think will be valuable over next 3 years?

Answer Anonymously

Should Elon Musk be able to buy Twitter?