Category: PTI

US trade policy ‘deplorable’, says Japan

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

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US-imposed trade tariffs on its close allies could have a “grave impact” on ties and the world trading system, the Japanese government said today, describing the situation as “extremely deplorable”.

Washington found itself isolated at a weekend meeting of G7 finance ministers over its stinging steel and aluminium tariffs and Tokyo kept up the barrage in unusually strong language.

“It is extremely deplorable that the situation has not improved even after Japan has explained to the US its concerns at various levels,” said government spokesman Yoshihide Suga.

Close allies Tokyo and Washington have been at loggerheads over trade policy after the US refused to give Japan an exemption from the tariffs, which came into effect on Friday.

“The US government’s trade measures, citing its security, makes us concerned that they could disrupt the global market,” Suga told reporters.

“On top of that, we think that it may have a grave impact on the economic cooperation between the allies Japan and the United States and on the whole multilateral trading system under the WTO (World Trade Organization) rules.” The trade row has cast a shadow over the relationship between Prime Minister Shinzo Abe and US President Donald Trump, who have forged otherwise close ties.

Last month, Tokyo informed the WTO it had the right to impose tariffs worth 50 billion yen ($456 million) on American goods — equivalent to the impact of the US tariffs newly imposed on Japanese steel and aluminium products.

According to the most recent data, Japan’s trade surplus with the US was 615.7 billion yen in April ($5.6 billion), a gain of 4.7 percent on higher demand for cars and construction machinery.

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

Maldivian government fines GMR group company

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

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The Maldivian government has slapped a notice seeking $ 20.5 million towards income tax and fines on GMR Male International Airport (P)Ltd, a GMR group company, that won $ 271 million arbitration against the premature termination of Male International Airport contract.

A GMR spokesperson refuted the tax claim by the island nation.

According to a regulatory filing, the Indian infra major said the Maldives Inland Revenue Authority (MIRA) had issued tax audit reports and notice of tax assessments demanding business profit tax amounting to $ 14.4 million, $ 2.8 million as the additional withholding tax and further $ 3.3 million towards fines totalling $ 20.5 million.

GMIAL entered into an agreement on June 28, 2010 with Maldives Airports Company Limited (MACL) and Ministry of Finance and Treasury (MoFT), Maldives, for the rehabilitation, expansion, modernisation, operation and maintenance of Ibrahim Nasir International Airport for a period of 25 years.

However, On November 27, 2012, MACL and MoFT issued notices to GMIAL stating that the concession agreement was “void ab initio and that neither MoFT nor MACL had authority under the laws of Maldives to enter into the agreement and MACL took over the possession and control of the MIA and GMIAL vacated the airport effective December 8, 2012.

The matter was under arbitration.

“During the current year (2017-18), Maldives Inland Revenue Authority (‘MIRA’) has issued tax audit reports and notice of tax assessments demanding business profit tax amounting to $ 1.44 crores ( $ 14.4 million), $ 0.28 crore ($ 2.8 million as the additional withholding tax and further $ Rs 0.33 crore ( $ 3.3 million) towards fines,” GMR said.

When contacted a GMR spokesperson refuted the tax claims and said they are awaiting response from Maldives Airports Company Limited on the issue.

“Maldives Inland Revenue Authority has issued tax notices to GMIAL in late 2017. We have refuted the tax claims as GMIAL has no business operations in Maldives.

Further the compensation awarded to us by the arbitration tribunal indemnified us against any tax liabilities that may be imposed on us in Maldives.

We have sought MACL’s response in the matter and will decide the future course of action basis their response,” the GMR official told PTI in an email reply.

During the year ended March 31, 2017, the arbitration tribunal in Singapore delivered its final award in favour of GMIAL, pursuant to which the GMR group company received $ 271 million from MACL.

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

Mercury dips in Delhi after dust storm, says MeT department

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

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A day after a dust storm hit Delhi-NCR, the mercury slipped a few notches in the national capital, bringing some relief from the hot weather.

The minimum temperature was recorded at 26.6 degrees Celsius, one notch below the normal, the Meteorological (MeT) Department said.

A dust storm and thunderstorm has been forecast for today as well, a MeT official said.

The dust storm last night that hit Delhi, Noida, Gurgaon, and Ghaziabad, had brought the maximum temperature down from 42 degrees Celsius to 35 degrees Celsius.

The minimum temperature yesterday had settled at 30 degrees Celsius, three notches above the season’s average.

The maximum temperature is likely to hover around 42 degrees Celsius later in the day.

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

Rupee gains 24 paise against the US dollar in early trade

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

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Rising for the third day, the rupee appreciated by 24 paise to 67.17 against the US dollar today on continued selling of the American currency by banks and exporters amid robust macroeconomic data.

Data released by the CSO yesterday showed gross domestic product (GDP) growth in the January-March quarter of 2017-18 was at a seven-quarter high of 7.7 per cent, helping India retain the tag of world’s fastest growing major economy.

Forex dealers said besides sustained selling of the American currency by exporters as well as banks, a higher opening in the domestic equity market supported the rupee.

However, the dollar’s strength against other currencies overseas capped the gains.

Yesterday, the local currency had edged up by 2 paise to end at 67.41 against the American currency on stray dollar selling by banks and exporters.

Meanwhile, the benchmark BSE Sensex was up 55.60 points, or 0.15 percent, at 35,377.98 in early trade.

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

US receives over 5,000 tips on H-1B visa fraud, says official

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

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More than 5,000 complaints of H-1B visa fraud and abuse have been received by a federal agency on a dedicated email helpline that was launched by the Trump administration last year, an official said.

“As of May 21, 2018, the USCIS has received over 5,000 tips to the dedicated H-1B email address,” Philip Smith, a Spokesperson for the US Citizenship and Immigration Services (USCIS) told PTI.

After US President Donald Trump Signed “Buy American, Hire American” executive order last year, Fraud Detection and National Security Directorate (FDNS) established email addresses dedicated to receiving information about suspected H-1B and H-2B fraud or abuse.

FDNS leads USCIS’s efforts to combat immigration benefit fraud.

Anyone (including both American workers and workers who suspect they or others may be the victim of H-1B or H-2B fraud or abuse) can email ReportH1BAbuse@uscis.dhs.gov or ReportH2BAbuse@uscis.dhs.gov to submit tips, alleged violations, and other relevant information about potential fraud or abuse, Smith said.

The USCIS, however, did not provide any other details with regard to the nature of complaints, the companies involved and which country’s high-tech professionals were the victims of H-1B visa fraud and abuse.

“Pursuant to the Buy American, Hire American Executive Order, FDNS has helped the agency investigate the H-1B program to protect American workers,” Smith said.

In April 2017, USCIS FDNS created and implemented the Targeted Site Visit and Verification Program (TSVVP) as part of its continuous efforts to enhance the integrity of the immigration benefit process, he said.

“This targeted approach focuses on H-1B dependent employers (those who have a high ratio of H-1B workers as compared to US workers, as defined by statute); Cases that we cannot validate the employer’s basic business information through commercially available data; and employers petitioning for H-1B workers who work off-site at another company or organization’s location,” Smith said in response to a question.

FDNS officers resolve background check information and other concerns that surface during the processing of immigration benefit applications and petitions.

Resolution often requires communication with law enforcement or intelligence agencies to make sure that the information is relevant to the applicant or petitioner at hand and, if so, whether the information would have an impact on eligibility for the benefit.

FDNS officers also perform checks of USCIS databases and public information, as well as other administrative inquiries, to verify information provided on, and in support of, applications and petitions.

Smith said administrative inquiries may include targeted site visits ? Inquiries conducted in cases where fraud is suspected.

FDNS uses the Fraud Detection and National Security Data System (FDNS-DS) to identify fraud and track potential patterns, he said.

The USCIS has formed a partnership with Immigration and Customs Enforcement (ICE), in which FDNS pursues administrative inquiries into most application and petition fraud, while ICE conducts criminal investigations into major fraud conspiracies, he said.

According to the USCIS, the H-1B visa program should help US companies recruit highly-skilled foreign nationals when there is a shortage of qualified workers in the country.

“Yet, too many American workers who are as qualified, willing, and deserving to work in these fields have been ignored or unfairly disadvantaged,” the USCIS says on its webpage.

Employers who abuse H-1B visa program may negatively affect US workers, decreasing wages and opportunities as they import more workers from abroad, it said.

Highly popular among Indian technology professional, the H-1B visa is normally issued for three years and renewed for another three years.

The US Congress has a cap of 65,000 H-1B visas per year.

It also issues another 20,000 H-1B visas to those who have masters and higher education from a US academic institute.

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

More Indians travel in airplanes than in AC trains, says Government report

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

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The number of flyers in India is more than those travelling in AC coaches of trains, documents released to mark fourth anniversary of the Narendra Modi government show.

With India emerging as the third largest aviation market, air passenger traffic growth has been in the range of 18-20 percent over the past three years.

“For the first time, more people travelled in airplanes than in AC trains,” according to the document, titled ‘saaf niyat, sahi vikas’ (clean intent, right development).

Prime Minister Narendra Modi, while presenting the government’s report card at a rally in Cuttack last Saturday, had drawn the people’s attention to the rapid growth of the civil aviation sector in the country.

The Aviation Ministry is targeting a five-fold increase in passenger trips to one billion per annum in 15-20 years. The civil aviation sector will also see the addition of 1,000 aircraft in the Indian skies in the coming decade from about 55o aircraft today.

The document also said domestic air passenger crossed 100 millions in 2017. It said the National Civil Aviation Policy 2016 has been unveiled to transform the sector.

Under the present dispensation, the Civil Aviation Ministry had launched the Regional Connectivity Scheme or UDAN to provide air connectivity to smaller towns and hilly terrains at affordable prices.

The ministry has claimed the scheme as a major success and taking the number of operational airports in the country to about 100.

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

National parties under RTI Act, says Election Commission

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

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The Election Commission today said national parties are public authorities under the RTI Act as declared by the Central Information Commission, a day after the poll panel’s appeal order on an RTI application saying ?political parties are out of the purview of RTI Act? was reported.

In a statement issued today, the Election Commission of India clarified that it goes by the CIC order of June 3, 2013 that declared national parties as public authorities for the purposes of RTI Act.

In pursuance of this, the CIC order had said, all the information about the contributions received by these parties as well as their annual audited accounts, as and when submitted to the Commission, are put in public domain.

The appeal order had come on an RTI applicant Vihar Dhurve who had sought details of donations, through electoral bonds, collected by the six national parties declared as public authorities under the RTI Act by the CIC — Congress, BJP, NCP, BSP, CPM and CPI.

In its order deciding his first appeal, a senior official of the Election Commission had said, “Requisite information is not available in the Commission. This is related to political parties and they are out of purview of the RTI?

The First Appellate Authority in the Election Commission K F Wilfred, the Senior Principal Secretary in poll panel, wrote in the order that he agrees with the view taken by the CPIO of the Commission.

Six out of seven political parties; the BJP, Congress, BSP, NCP, CPI and CPM,  for which information was sought by the applicant were brought under the ambit of the RTI Act by a full bench of the commission on June 3, 2013.

The order has not been challenged in the higher courts but the political parties have refused to entertain the RTI applications directed at them. Several activists have approached the Supreme Court on the grounds of non-compliance of the CIC order and the matter is pending.

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

DMK dubs Sterlite closure as ‘eyewash’ and ‘drama’

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

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DMK working president M K Stalin today described as “drama” the Tamil Nadu government’s order to permanently close the Sterlite plant at Tuticorin.

“It is an eyewash, a drama,” Stalin, who is also the Leader of the Opposition in the Assembly, said.

If this decision had been taken without the “killing” of 13 lives, the government’s good intention could have been appreciated, he told reporters here after chairing a meet of party MLAs ahead of the start of the assembly session tomorrow.

As this decision comes “after killing 13 people,” and injuring many, it clearly showed an “ulterior motive,” for it.

Had the Cabinet been convened and a resolution adopted for the closure, it would have been “laudable.”

“This government order (GO) is not a cabinet decision. You should know this is a GO of the Pollution Control Board,” Stalin said.

He said the plant’s closure under similar circumstances in 2013 was also an “eyewash.”

It was reopened later following a report of the Pollution Control Board that the unit was safe, he said.

If the government had no motive behind its order, by now action must have been taken against police officials including the DGP for the firing incidents which led to the loss of 13 lives, he said.

“So far no action has been taken. We will raise these issues in the Assembly tomorrow,” he said adding if action was not taken, his party would approach the court.

Following the order, the Tuticorin based copper smelter plant belonging to the Vedanta group was immediately sealed by authorities.

Top actor Rajinikanth, who is set to enter politics, said the closure was a “victory,” adding it was dedicated to the people who lost their lives in the police firing.

“I pray to God that such incidents which took innocent lives do not continue in future,” he said in an audio message shared on his twitter handle.

Makkal Needhi Maiam chief Kamal Haasan described the closure as a victory for the might of the people.

“All political parties should humble themselves before this victory of the people; salute the martyrs and learn from them.”

Had the government acted swiftly, it would have avoided the unfortunate loss of lives, he added.

CPI (M) state secretary K Balakrishnan said the closure showed that the government which attempted to suppress the anti-Sterlite agitation, eventually bowed due to “people’s voice of opposition.” Referring to the deaths of 13 people, MDMK chief Vaiko said the AIADMK government went in for closure to escape from the people’s ire and avoid blame.

He reiterated his demand seeking the resignations of Chief Minister K Palaniswami and Tamil Nadu Director General of Police TK Rajendran over the police firing and deaths of people.

Read our extensive coverage on Sterlite Tuticorin protests 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

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

India does not recognise unilateral US sanctions on Iran, only follows UN sanctions, says Sushma Swaraj

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

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India today said it will continue trading with Iran and Venezuela despite US sanctions against the two countries, asserting that it only recognises UN restrictions.

“We only recognise UN sanctions. We do not recognise any country-specific sanctions,” External Affairs Minister Sushma Swaraj said at a press conference.

She made the remarks while responding to a question on whether US sanctions against Iran and Venezuela will hit India’s oil imports from the two countries.

The external affairs minister also said that India does not make foreign policy under any pressure from any country.

“We don’t make our foreign policy under pressure from other countries,” she said.

Earlier this month, the US had pulled out from the landmark Iran nuclear deal of 2015 under which Tehran had agreed to stop its sensitive nuclear activities in return for the lifting of crippling economic sanctions.

Announcing the decision, President Donald Trump had reimposed sanctions against Iran which were suspended after the nuclear deal was finalised three years back.

The US had also announced tightening sanctions against Venezuela following re-election of President Nicolas Maduro.

Iran is India’s third largest oil supplier. Venezuela is also one of the major suppliers of oil to India.

Swaraj also ruled out using cryptocurrency in oil trade with Venezuela saying the Reserve Bank of India had banned it.

Her comments came hours before a meeting with Iranian Foreign Minister Mohammad Javad Zarif who is here to seek India’s support to salvage the nuclear deal.

There were apprehensions about possible impact of the US decision on India’s oil import. However, officials said the US decision to reinstate financial sanctions on Iran would not impact India’s oil imports as long as European countries did not follow suit.

China, Russia and several European nations have been trying to salvage the deal.

Iran had struck the Joint Comprehensive Plan of Action (JCPoA) with the US, the UK, Russia, China, France and Germany after years of negotiations.

In its reaction to Trump’s decision, India had said all the parties concerned should engage constructively to resolve the issue peacefully and that Iran’s right to peaceful use of nuclear energy must be ensured.

According to the External Affairs Ministry, India-Iran bilateral trade during the 2016-17 fiscal was $12.89 billion. India imported $10.5 billion worth of goods, mainly crude oil, and exported commodities worth $2.4 billion.

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

Southwest monsoon to hit Kerala today, predicts weather firm

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

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The Southwest Monsoon hit Kerala today, marking the arrival of the rainy season in the country, private weather forecasting agency Skymet said.

However, the India Meteorological Department (IMD), the country’ official weather forecaster, in its 8.15-am bulletin, said Monsoon would hit Kerala in the next 24 hours.

“There are Monsoon-like conditions over Kerala and we can say that the annual rainfall season has arrived,” Skymet CEO Jatin Singh told PTI.

The Skymet, in its forecast, said that Monsoon would hit the Kerala coast on May 28, while the IMD has made a prediction for its arrival on May 29.

According to the IMD, if after May 10, 60 percent of the available 14 stations –Minicoy, Amini, Thiruvananthapuram, Punalur, Kollam, Allapuzha, Kottayam, Kochi, Thrissur, Kozhikode, Thalassery, Kannur, Kudulu and Mangalore — report rainfall of 2.5 mm or more for two consecutive days, the onset of Monsoon over Kerala can be declared on the 2nd day. This is one of the main parameters for the declaring the arrival of monsoon.

Besides this, the other parameters for the arrival of Monsoon should be that the westerly winds must be up to 15,000 feet above main sea level and outgoing long-wave radiation should be less than 200 wm-2 (watt per square metre).

“The long-wave radiation is 140 wm-2. Rain for consecutive two days have been recorded in almost all weather stations and even the wind criteria has matched to safely say that the Monsoon has hit Kerela,” said Mahesh Palwat, Vice-President (Meteorology and Climate Change) of Skymet.

Conditions are favourable for further advance of Southwest Monsoon into some parts of South Arabian Sea, remaining parts of Comorin Maldives area, some parts of Kerala, Tamil Nadu, some more parts of South Bay of Bengal, remaining parts of Andaman Sea and Andaman and Nicobar Islands during the next 24 hours, the IMD said in its forecast.

“The Monsoon is expected to hit Kerala in the next 24 hours,” Mritunjay Mohapatra, Additional Director General, IMD said.

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