Germany eases travel ban; allows entry of Indian students, highly-skilled professionals

Germany has eased travel restrictions for five countries, including India. Students and working professionals had reached out to the German Embassy to lift the travel ban. The country has now allowed foreign students and skilled and highly-skilled professionals to travel.

Germany is easing strict restrictions on travel from Britain, Portugal and some other countries that were imposed because of the rise of the more contagious delta virus variant.

Germany’s national disease control centre, the Robert Koch Institute, said on Monday that Britain, Portugal, Russia, India and Nepal will be removed from the country’s highest risk category of “virus variant areas”, effective Wednesday.

Watch the accompanying video of CNBC-TV18’s Parikshit Luthra for more details.

Startup Street: Scripbox’s new offering allows users to invest in US stocks

Bob Moritz

Digital wealth management service Scripbox has launched an additional investment avenue on their platform, US stocks.

While Scripbox has already been offering equity-based mutual funds on its platform, the venture claims its new offering will now allow users to invest in stocks of leading global companies listed in the US stock exchanges, along with index exchange traded funds.

The investment solution has been developed in partnership with Stockal, a global investing platform. Startup Street spoke to Atul Shinghal, Founder and CEO of Scripbox.

Watch accompanying video for more.

 5 Minutes Read

Exclusive: Vaccine donations delayed due to pending legal formalities in India, says US embassy

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

 Listen to the Article (6 Minutes)

Summary

Sources told CNBC-TV18 on Monday that the US was looking at sending more than 4 million doses of Moderna’s vaccine to India, but the consignment was held up due to pending legal formalities in India

A spokesperson at the US Embassy has confirmed that India is currently in the process of reviewing legal provisions related to accepting vaccine donations. “In the case of India, the delay is not from the US side. India has determined that it needs further time to review legal provisions related to accepting vaccine donations. Once India works through its legal process, our donation of vaccines to India will proceed expeditiously,” a US embassy spokesperson told CNBC-TV18. The official also confirmed that COVAX would facilitate delivery of these vaccines.

The US had dispatched donations of the Moderna vaccine to Honduras, Pakistan and Bangladesh through COVAX last week. Sources told CNBC-TV18 on Monday that the US was looking at sending more than 4 million doses of Moderna’s vaccine to India, but the consignment was held up due to pending legal formalities in India.

The spokesperson added that the US will be sharing 80 million doses from its own supplies with countries around the world, but before that the recipient nation must complete its own regulatory and legal processes. The spokesperson did not confirm the number of doses likely to be shared with India or the timeline for delivery.

The delay has been due to discussions on indemnity between the Indian government, COVAX and foreign vaccine makers like Moderna, Pfizer and Johnson and Johnson. “We are yet to take a call on indemnity. We are discussing terms of indemnity with foreign vaccine makers and COVAX is also part of those discussions,” said an Indian government official requesting anonymity. The official explained that India too was trying to get these doses as soon as possible.

CNBC-TV18 also reached out to GAVI which is a part of the COVAX alliance for an update on the quantum of vaccine doses allotted to India and timeline for delivery.

“We welcome donations of vaccine doses by the US, which will play an important role in helping COVAX address immediate term supply gaps – before larger volumes become available through the facility later in the year. GAVI, on behalf of COVAX, is working closely with the US government and other partners to operationalise these donations and get doses delivered as quickly as possible, so that countries can continue to protect their most at-risk groups. More information on volumes and timelines will follow in due course,” said a spokesperson on behalf of GAVI.

When contacted, a Moderna spokesperson said that the US government would be able to share the status of vaccine donations. However, on the June 2, Moderna had signed a long term agreement with UNICEF to provide COVAX with 34 million doses by the fourth quarter of 2021 and 466 million doses in 2022.

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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Stan Swamy’s death puts spotlight on UAPA, experts decode

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

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Summary

The death of Stan Swamy, the 84-year-old priest and tribal rights activist, has brought the unlawful activities prevention act or UAPA in the spotlight yet again. Swamy, who was arrested in October 2020 as an accused in the Elgar Parishad Case, died at the Holy Family Hospital in Mumbai on Monday; the day his bail hearing was scheduled in the Bombay High Court. This was the latest in a series of bail pleas, all of which were previously rejected.

The death of Stan Swamy, the 84-year-old priest and tribal rights activist, has brought the unlawful activities prevention act or UAPA in the spotlight yet again.

Swamy, who was arrested in October 2020 as an accused in the Elgar Parishad Case, died at the Holy Family Hospital in Mumbai on Monday; the day his bail Elgar Parishad Casehearing was scheduled in the Bombay High Court. This was the latest in a series of bail pleas, all of which were previously rejected.

The allegations against Swamy were that he was linked with the banned CPI (Maoist) and receiving funds from cadres.

While rejecting one of his bail pleas last year, the Special Trial Court had said it had no hesitation in concluding that the collective interests of the community would outweigh the applicant’s right to personal liberty. Notwithstanding his old-age or alleged sickness, the UAPA was invoked.

It extends the pre-chargesheet custody period from 90 days to 180 days and restricts the right to bail. The law allows the court to depend on police documents to presume guilt of the accused.

For context, the conviction rate under the UAPA has been dismal. According to the data shared by the Home Ministry in March this year, only 2.2 percent of cases registered under the UAPA between 2016 and 2019 have resulted in convictions by the courts.

To take this discussion forward, CNBC-TV18 spoke to Harsh Mander, social activist & columnist; Kamini Jaiswal, senior advocate at SC; Anand Grover, senior advocate at SC, and Yashovardhan Azad, former IPS officer.

Harsh Mander said, “I think that when Father Stan Swamy breathed his last yesterday, the whole Indian republic was diminished. Here is the man who dedicated his life living with extreme austerity to the rights of Adivasi people. No one who has worked with him can believe that he had anything to do with Maoist or terror violence of any kind. The problem is we have still in our statute books laws like UAPA, which lend themselves to misuse.”

He added, “The very figure that you gave of 2.2 percent conviction means that actually laws are not successful in convicting people who are actually involved in terror crimes. It allows the state to pick-up people whom it wishes to punish without evidence and therefore they are in prison for very long period. I think the existence of extraordinary laws of the kind that UAPA represents is firstly the problem.”

Advocate Anand Grover said, “I think compassion is one of the issues. I want you to look at the things in a more holistic manner because we have to understand there are these laws which are in place and UAPA is only one of them. These laws have been enacted over a period of time and they really start with Narcotics Act, which is even more draconian than the UAPA.”

“Over a period of time, the normal law and the India penal code have been jettison and special laws have been brought in place on the statute books and there the procedure has changed over a period of time so the basic tenets of innocence, granting of bail etc. has been completed changed which actually allows the courts to do what they want in case of like this.”

Watch accompanying video for more.

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

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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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2021 Range Rover Evoque launched; prices start at Rs 64.12 lakh

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

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Summary

Car, powered by 2.0L Ingenium engine, comes in diesel and petrol variants,

Jaguar Land Rover India announced the launch of the updated Range Rover Evoque. The price of the upcoming Evoque is expected to start from Rs 64.12 lakh (ex-showroom), up from Rs 57.99 lakh (ex-showroom) that the current generation of Range Rover Evoque is sold at. The prices of the variants have not yet been declared.

Rohit Suri, president and managing director, Jaguar Land Rover India, said, “Range Rover Evoque has always turned heads with its unique, modernistic and smart design. With the introduction of new interior colourways and latest Land Rover technologies, the new Evoque’s style quotient is even more enhanced and the new Ingenium powertrains make it more powerful and efficient.”

The car will come in diesel and petrol variants, with the former coming in S-trim and the R-Dynamic SE trim available for the latter. The car will be powered by the 2.0L Ingenium engine and paired with a ZF eight-speed automatic transmission. The petrol engine is capable of producing 247 HP and 365 Nm of peak torque, while the diesel variant will be capable of 201 HP and 430 Nm of peak torque. The car will be running on a four-wheel drive and come with Terrain Response two off-road modes.

The car will also come with features like 3D Surround Camera, cabin air ionisation with PM2.5 filter, wireless charging with a phone signal booster, Pivi Pro infotainment system, 11-speaker Meridian audio system, a digital instrument cluster, 10-way powered front seats, two-zone climate control and seven airbags.

The SUV is following the launch of the Range Rover Velar, which also got an update for the year.

 

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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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 new Liquor Policy: Bars in hotels, restaurants & clubs can now operate till 3 am

liquor

The Delhi government has revamped its liquor policy easing rules for bars in hotels and restaurants and also those with licences to operate round the clock.

The new policy aims to introduce sweeping changes in the liquor business, clean up malpractices, and improve user experience.

It strictly prohibits crowding outside a vendor in the pavement and buying through the counter.

But it allows bars in hotels, restaurants and clubs to operate till 3am “except those licensees which have been given license to operate round the clock service of liquor”.

The policy also recommends serving of liquor in open spaces such as terrace, balcony at licenced hotels and restaurants. Delhi government is also seeking to exit the retail liquor trade, which will lead to closure of state-run shops.

Watch the accompanying video of CNBC-TV18’s Timsy Jaipuria for more details.

 5 Minutes Read

Less than 50% Indians troubled by climate change: Survey 

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

 Listen to the Article (6 Minutes)

Summary

Only 45 percent of respondents from India felt their country has suffered due to climate change.

Only 48 percent of Indians are concerned about climate change across the globe, according to a recent survey. The Mintel Sustainability Barometer 2021 survey saw only 48 percent of the respondents from India rank climate change as an environmental problem to be concerned about. The survey by Mintel was conducted across 16 countries — Australia, Brazil, Canada, China, France, Germany, India, Ireland, Italy, Japan, Poland, Spain, South Korea, Thailand, the UK, and the US. It measures consumer behaviour and attitude towards climate change.

The survey also revealed that only 45 percent of the respondents from India believe that the country is suffering as a result of climate change. Apart from Indians, most respondents from France, the US, Poland and Australia too were unruffled about climate change.

At the other end of the spectrum, nearly 70 percent of the respondents from South Korea saw climate change as an important issue. This, even as just 38 percent of the country’s respondents felt that the country was actually suffering due to global warming. Respondents from Italy and Japan were also concerned about climate change. Chinese and German respondents felt that their country is feeling the impact of climate change, but they still only represented a small majority.

At the same time, a higher percentage of respondents cited “deforestation, loss of biodiversity or chemicals entering the environment” as one of their top three environmental concerns. Seventy eight percent of Indian respondents listed felling trees, rapid loss of biodiversity and chemical spillages into the environment as areas of concern.

The results of the survey highlight that tangibility plays a major role in deciding how concerned individuals are about the environment. Consumers are more likely to go for sustainable products that may help to mitigate environmental challenges in their own ‘locality.’

“(The survey) signifies the importance of tangibility and localism when it comes to delivering solutions or sustainable products,” stated the report from Mintel.

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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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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Reopening India: As states are easing COVID curbs; tourism, law and order need to go hand-in-hand, says Postcard Hotel’s Kapil Chopra

With COVID infections declining in India and more and more people getting vaccinated every day, states across the country have been gradually easing COVID-related curbs with an aim to revive the economy. Moreover, the upper and the middle class are now flocking to malls and shopping centres, and are jetting off to holiday destinations to shake off their ‘Lockdown Fatigue’.

But on the flip side, there is the lurking danger of such steps leading to a fresh outbreak.

Last week, the central market at Delhi’s Lajpat Nagar was shut down indefinitely over non-adherence of COVID norms. The decision was taken after an inspection was carried out by the sub-divisional magistrate along with COVID-19 appropriate behaviour enforcement teams. This arises the next big question: who shall bear the onus of maintaining COVID appropriate behaviour. On the other hand, images of massive crowd on the streets of Manali and Dharamshala, and other popular tourist destinations are also causing concerns.

While, the pick-up in tourism is a silver lining, how do we ensure a responsible restart? What are hotels and home stays etc. doing to ensure safety of travellers?

To talk about the way out for hotels, homestays and tourism; CNBC-TV18 spoke with Rajesh Magow, co-founder and Group CEO of Make My Trip; Kapil Chopra, founder CEO, Postcard Hotel and Chairman, Easy Diner. Along with them are Pradeep Shetty, Joint Secretary, Federation of Hotel and Restaurant Associations of India and Ashish Grover, General Secretary, Confederation of All India Traders.

Talking about revival of tourism and travel, Magow said it is a bit of a repeat of the recovery we saw after the COVID-19 first wave and probably it is steeper if one were to look at recovery curve. The air passenger traffic flow is around 2 lakh a day, which is nearly 40 percent recovery. On the hotel side, it is about 50 percent.

Similarly, city bus transport in states like Karnataka, Kerala and Tamil Nadu are little behind.

This time as well it is similar sort of consumer behaviour we had seen after the first wave, which is pent-up demand, revenge travel, fatigue and maybe the summer weather has helped this, said Magow. Across the board the signs are encouraging.

Chopra said at the hotel level all the precautions like sanitising etc. can be done but if one were to look at the pictures coming in from Manali and other hill stations are cause of concern. So more than a hotel situation, it is a law and order situation. It was a good decision by the Delhi government to shut down the central market at Lajpat Nagar.

Tourism has to be responsible and has to work with local law and order authorities. It is appreciable what the Goa government has done, it has opened up restaurants with restrictions. There is an RT-PCR test compulsory for entry into Goa.

“As a hotel owner there are two-sides to the coin – you have to be very concerned about the guest but you also have to be concerned about the safety of your team,” said Chopra. “What is happening in hill stations is very concerning – this time around they are very lax in implementing basic social distancing and if epidemic breaksout there it will be create havoc,” he added.

For the entire discussion, watch video

 5 Minutes Read

Sustainability key to consumer choices in FMCG sector, but so is brand: Survey

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

 Listen to the Article (6 Minutes)

Summary

Survey covered consumer behaviour across three products — coffee, soaps and socks.

Consumers consider the sustainability factor while purchasing items  in the fast-moving consumer goods (FMCGs) sector. A recent survey by Mintel showed that consumers do appreciate the sustainability factor, but often not at the expense of quality or brand. The survey by Mintel was conducted across 16 countries — Australia, Brazil, Canada, China, France, Germany, India, Ireland, Italy, Japan, Poland, Spain, South Korea, Thailand, the UK, and the US — and measures consumer behaviour and attitude towards climate change. 

The survey measured how much importance consumers placed on sustainability when choosing three FMCG products —  coffee, soaps and socks.

A significant portion of consumers said they would choose a product over another just for the packaging. Only 31 percent of consumers said they would choose one brand of coffee over another if “it comes in minimal or recyclable packaging.” For soaps, the number of respondents who saw the importance on minimal packaging was 35 percent; while for socks, the figure was 31 percent.

Apart from packaging, consumers also paid attention to the product’s effect on the environment. Thirty percent of respondents claimed that coffee being produced in an environmentally friendly way was the most important factor when it came to choosing a brand. Forty three percent of respondents said they would go for soaps that did not contain chemicals that would harm the environment while 33 percent of respondents said they would buy socks that did not contain harmful material like synthetic microfibres or dyes.

Apart from one or two sustainability factors, the survey also found that most consumers were worried about climate change, air quality and plastic pollution. Despite the increased focus on sustainability, a substantial proportion of consumers stated that the brand or quality of their coffee is of overriding importance. While 36 percent of the people surveyed said the quality of the coffee mattered the most, 35 percent of the respondents said that they would choose a brand that they had bought earlier.

 

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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Cabinet reshuffle: Younger leaders likely to be inducted

The highly-anticipated expansion of the Union cabinet, the first since Prime Minister Modi began his second term is expected to take place on July 7 and there are expectations that the cabinet’s strength may go up from 53 to 81, post the expansion.

Sources told News18 that former Assam Chief Minister Sarbananda Sonowal, who made way for Himanta Biswa Sarma in the recently-concluded state assembly elections, is likely to be inducted into the cabinet.

BJP Leader Jyotiraditya Scindia, who switched from the Congress to join the BJP last year and played a crucial role in the run-up to the Madhya Pradesh trust vote, may also get a ministerial berth.

Ahead of the cabinet reshuffle, eight new governors were appointed to various states, including Social Justice Minister and Rajya Sabha MP from Madhya Pradesh Thawar-Chand Gehlot.

CNN-News18’s Marya Shakil has more details on what can be expected by the Modi government.