5 Minutes Read

COVID-19: Arunachal Pradesh turns virus-free

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

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Summary

The total caseload in the northeastern state remained at 16,836, while the number of recoveries stood at 16,780.

Arunachal Pradesh became a coronavirus-free state on Sunday with the three active cases recovering from the disease, a senior health official said.

The total caseload in the northeastern state remained at 16,836, while the number of recoveries stood at 16,780, State Surveillance Officer Lobsang Jampa said.

No fresh COVID-19 case was reported in the past 24 hours, he said, A total of 56 people have so far died due to the contagion in the state.

Arunachal Pradesh’s recovery rate and positivity rate are at 99.66 percent and zero percent, respectively, the official said.

Altogether, 4,05,647 samples have been tested, including 312 on Saturday, Jampa said. Meanwhile, State Immunisation Officer (SIO) Dimong Padung said 32,325 health and frontline workers have received vaccine shots in the state thus far.

The health department has been carrying out the inoculation drive four days a week – Monday, Thursday, Friday and Saturday.

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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Survey finds insurance as most preferred financial product to protect family post-COVID

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

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Summary

The survey conducted on 1,369 respondents across nine centres revealed that during the pandemic, 51 percent of the respondents invested in life insurance, while 48 percent invested in health-related insurance solutions, which is higher than other financial asset classes.

Insurance has become the most-preferred financial product to protect the family against health emergencies post the COVID-19 pandemic with more people inclined to invest in insurance products in the next six months, according to a survey from Tata AIA Life Insurance.

According to a consumer confidence survey on the impact of COVID-19 commissioned by research agency Nielsen, life insurance turned out to be the most preferred financial tool driven by the need to secure a family’s future financially and the concern around medical emergencies.

The survey also found that most consumers would like to buy life insurance in the next six months as part of their investment plans. The survey conducted on 1,369 respondents across nine centres revealed that during the pandemic, 51 percent of the respondents invested in life insurance, while 48 percent invested in health-related insurance solutions, which is higher than other financial asset classes.

More than half of the respondents said their views towards life insurance have changed positively due to the pandemic and 49 percent want to invest in buying a life cover in the next six months and 40 percent intends to invest in health insurance. The survey said 30 percent of the people invested in life insurance for the first time during the pandemic, while 26 percent invested in health-related insurance solutions for the first time.

Financial security against medical emergencies and expenses has become the topmost priority, with as many as 62 percent mentioning about it and a majority of 84 percent saying they are still concerned about self and family due to coronavirus. 61 percent were worried about themselves/family and their top concern is the economic slowdown.

”Of the respondents concerned about self and family, 50 percent are worried about mental health due to increased workload due to Covid-19 pandemic. Among female respondents, 55 percent said they are concerned about the mental health due to the increased workload during the pandemic. 41 percent people are buying financial products online more often than before Covid-19 pandemic,” the survey said.

Among the other asset classes, one-third of the respondents said they invested in bank or company fixed deposits, and 30 percent invested in mutual funds, while 24 percent invested in stocks, 17 percent invested in gold/digital gold.

”Life insurance has clearly emerged as the preferred financial asset as per our Covid sentiment study. There is a distinct shift towards considering life insurance as the primary source of future financial protection, followed by health and wellness solutions. ”The survey findings have helped capture and unravel the transition in customer usage and attitude towards life insurance,” said Venky Iyer, CDO and Head marketing, Tata AIA Life Insurance.

The survey reveals that with changing money needs and priorities, consumers’ monthly allocation towards insurance, savings and investment, has increased. With less discretionary spends and more focus towards essentials spending, consumers are motivated to save, and invest more in life insurance than they were pre-Covid, he observed. Tata AIA Life said the motive behind doing the survey was to get a comprehensive understanding about consumers’ usage and attitude pre and post Covid-19 pandemic towards financial instruments and type of life insurance policies.

The survey was conducted on salaried, business and self-employed male and females in the age-group of 25-55 years through computer-aided web interview.

Click here: For the latest news and updates on COVID-19

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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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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Charging stations & battery storage: Cornerstones of electric mobility

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

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Summary

India is witnessing a conscious shift towards green mobility.

The role of electric mobility to reduce dependency on fossil-fuels is witnessing global popularity. The driving factors influencing the growth of the electric vehicle sector include an increased focus on climate change, advances in renewable energy, rapid urbanization, advancement in battery technology and a need to ensure energy security. India is also witnessing a conscious shift towards green mobility to achieve its commitments under the Paris Agreement.

In India, the EV sector is steadily gaining traction. The central as well as the state governments have been taking various steps and policy decisions to encourage the adoption of EVs. Regulatory support for EVs in India includes the National Electric Mobility Mission Plan, 2020 for the faster adoption of EVs, with the aim to enhance national fuel security and provide affordable transportation, the Faster Adoption and Manufacturing of Electric Vehicles in India (FAME) Schemes I and II, that set out various incentives to enhance demand for EVs, and various state-specific policies for EVs.

To boost consumer confidence in the sector and address issues of ‘range anxiety’, the ‘Charging Infrastructure for Electric Vehicles – Guidelines and Standards’ (Charging Station Guidelines) was issued by the Ministry of Power, Government of India (MoP) on December 14, 2018, and subsequently revised on October 1, 2019. Further, on June 8, 2020, the Charging Station Guidelines were amended.

The Charging Station Guidelines allow the setting-up of private charging stations as well as public charging stations (PCS).  Under the Charging Station Guidelines, setting-up of PCS is a de-licensed activity since it is deemed to be a service.  The amendment to the Charging Station Guidelines incorporates several new concepts such as captive charging station and battery swapping stations. More importantly, while the tariff for supply of electricity to PCS is to be determined by the appropriate regulatory commissions as per the Tariff Policy issued in terms of the Electricity Act, 2003, the amendment caps the tariff at cost of supply plus 15%, unless the Tariff Policy specifies otherwise.

While the Charging Station Guidelines are a step in the right direction, various interpretation and implementation issues persist. For example, although there is a requirement as to the minimum number of charging stations for a 3 km radius, the Charging Station Guidelines do not specify a maximum number, which could lead to long term demand and competition issues. Another issue is that there are no minimum infrastructure requirements on private charging stations, and this could potentially be exploited by PCS players to set-up single-point charging stations directly in the consumer’s name.

Further, energy storage is vital to achieving India’s sustainability and climate goals. Currently, India is heavily dependent on imports to meet its battery storage requirements and local manufacturing is limited. EV batteries can take significant time to charge and this inhibiting factor can be effectively tackled by developing an ecosystem of fast-charging or swapping of batteries. While there have been various government initiatives such as the National Mission on Transformative Mobility and Battery Storage, 2019, the battery storage sector is still at its nascent stage. The mission aims at a phased manufacturing program to localise production across the entire EV value chain. Measures to strengthen the supply chain of raw materials (primarily used in lithium-ion batteries), local manufacturing capability for battery storage solutions along with a focus on research and development, will contribute to the growth of the sector. Additional factors such as norms for adequate battery disposal facilities, recycling of old batteries should also be considered. Presently, India lacks a regulatory framework for energy storage systems, which is also the need of the hour to encourage battery storage solutions.

Notably, the uninterrupted supply of electricity to charging stations underpins the success of e-mobility in India and the State DISCOMs would play a crucial role in ensuring this. Newer business models would shift focus from state-owned utilities, which are currently setting-up charging stations, to more private sector participation.

A robust ecosystem for battery storage and public and private charging stations will boost confidence and drive India’s mission to achieve 100% electric vehicle (EV) sales by 2030. By developing local manufacturing expertise and scaling domestic production capacity, India can have a significant economic advantage in this vital sector. A predictable legal and regulatory landscape will help incubate new platforms for growth and innovation, which will help to achieve India’s climate change ambitions.

-by Vishnu Sudarsan & Megha Arora

(Vishnu Sudarsan & Megha Arora are partners at J Sagar Associates. The 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

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

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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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JNPT, Deendayal ports offer discounts on vessel, cargo charges to boost trade at Chabahar port

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

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Summary

On May 6, 2015, a ministerial-level MoU on Chabahar Shahid Beheshti Port – was signed between India and Iran and the historic agreement was executed on May 23, 2016, in Tehran during the visit of Prime Minister Narendra Modi.

To enhance trade at Chabahar port in Iran, Jawaharlal Nehru Port and Deendayal Port are offering discounts on the vessel and cargo charges, as per the Ministry of Ports, Shipping and Waterways. Located in Sistan-Balochistan province on the energy-rich Iran’s southern coast, the port is being developed by India, Iran and Afghanistan to boost trade ties.

Chabahar Port lies outside the Persian Gulf and is easily accessed from India’s western coast, bypassing Pakistan. ”To promote Shahid Beheshti Port of Chabahar, Iran Jawaharlal Nehru Port and Deendayal Port are providing discounts on Vessel related charges and Cargo related charges for the vessels going and arriving from Shahid Beheshti,” according to the ministry.

For the past six months, a 50 per cent discount on terminal handling charges for transit containers has also been granted. ”The flow of bulk cargo is steady. Transit cargo from Afghanistan is now picking up. The Shipping line has assured us of weekly container service as volumes are on the rise,” as per a document from the MoPSW.

Owing to the challenges in activation of the main agreement pertaining to Chabahar port, a formal Short Lease (Interim) Contract between India and Iran was signed on May 6, 2018, with the incorporation of an Iranian SPV – India Ports Global Chabahar Free Zone (IPGCFZ) – for its implementation. ”The terms and conditions of this Contract are different than the 10-year Agreement. Under this Contract, India Ports Global Chabahar Free Zone (Iranian subsidiary of India Ports Global Ltd) took over the operations at berth length of 360 mts at Shahid Beheshti Port on 25th December 2018. IPGCFZ handled its first cargo on 30th December 2018,” the document said.

Till January 31, 2021, about 123 vessels have berthed at the terminal and IPGCFZ have handled approximately 13,752 TEUs (twenty-foot equivalent unit) and 18 lakh tonne of bulk / general cargo, it added. Efforts are on to improve the traffic at Chabahar Port.

The Short Lease Contract has since been renewed till June 25, 2021. ”We are now in possession of over 1,240 mts berth length and 70 Ha of back up area. Four post Panamax vessels can now simultaneously berth at our terminal,” as per the shipping ministry document. The ministry also said CONCOR has proposed to commence shipping service from the east and west coast of India to Vorsino terminal in Moscow via Shahid Beheshti port using INSTC (International North-South Transport Corridor) route.

This will be under multimodal using sea leg till Chabahar and thereafter by road and/or rail. It is under their internal approvals, as per the document. On May 6, 2015, a ministerial-level MoU on Chabahar Shahid Beheshti Port – was signed between India and Iran and the historic agreement was executed on May 23, 2016, in Tehran during the visit of Prime Minister Narendra Modi.

The pact was signed between Aria Banader Iranian Port & Marine Services Company (ABI) of Iran and India Ports Global Ltd (SPV formed by the Ministry of Shipping in January 2015) for the development of phase one of Shahid Beheshti Port of Chabahar. As per the contract terms, India has to equip and operate two terminals in Phase 1 at the cost of USD 85 million and after activation of the main contract, India will operate Shahid Beheshti Port of Chabahar for 10 years.

In January, India supplied a consignment of two mobile harbour cranes to the Chabahar port having a total contract value of over USD 25 million. Additional Secretary, MoPSW, Sanjay Bandopadhyaya said two more cranes are standing for loading near the port near Venice, which will reach by March-end to this port, while another two will reach by June-end.

Bandopadhyaya said after mobile harbour cranes are delivered, there are plans to procure rail-mounted cranes for which bidding is going on. Since 2017, he has said, India had sent a consignment of 1.1 lakh tonnes of wheat, pulses and other assistance in over 4,800 containers to Afghanistan through the Chabahar port.

The bilateral contract between Iran and India was signed on May 23, 2016, with a total value of USD 85 million ?for equipping, mechanising and starting operations at the port under the first phase. In this regard, a special purpose vehicle — India Ports Global Ltd (IPGL), Mumbai — was incorporated under the shipping ministry.

The government in February last year had approved the exemption of IPGL from the Department of Public Enterprises (DPE) guidelines for smooth execution of the Chabahar Port project. IPGL was incorporated as a special purpose vehicle jointly promoted by Jawaharlal Nehru Port Trust (JNPT) and Deendayal Port Trust (DPT) for the development and management of Shahid Beheshti Port of Chabahar.

Subsequent to the withdrawal of the US from the Joint Comprehensive Plan of Action, the external affairs ministry advised the shipping ministry on October 29, 2018, to exclude JNPT and DPT from the possible impact of US sanctions. The development of the Chabahar port will help in the expansion of economic and mutual relations between India and Iran as well as give a further boost to the maritime trade between the countries.

The location of the Chabahar port has a strategic advantage and high potential to provide connectivity between India, Iran, Afghanistan, Uzbekistan and other Commonwealth of Independent States (CIS) countries, especially Eastern CIS nations, and boost 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

 Daily Newsletter

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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Superstar Amitabh Bachchan hints at undergoing surgery

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

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Summary

In a one-line, cryptic message on his personal blog, the 78-year-old actor gave an update to his fans and followers. ”medical condition .. surgery .. can’t write (sic)” Amitabh Bachchan wrote on Saturday.

Megastar Amitabh Bachchan has shared that he has a ”medical condition” for which he needs to undergo surgery. It is unclear if the medical procedure is complete.

In a one-line, cryptic message on his personal blog, the 78-year-old actor gave an update to his fans and followers. ”medical condition .. surgery .. can’t write (sic)” Amitabh Bachchan wrote on Saturday.

The actor recently shared the details about the projects his family members — wife Jaya Bachchan, son Abhishek Bachchan and daughter-in-law Aishwarya Rai Bachchan — were currently working on. Amitabh Bachchan had also said he would soon start shooting for filmmaker Vikas Bahl’s next.

The screen icon was last seen in Shoojit Sircar’s ”Gulabo Sitabo”, which had a digital premiere last year in the wake of the coronavirus-induced shutdown. One of the busiest stars in the Hindi film industry, Amitabh Bachchan was recently shooting for ”MayDay”, directed by and starring Ajay Devgan. The veteran actor, who regularly keeps in touch with his followers whom he calls his ’extended family’ via social media, was also one of the first Indian film personalities to be diagnosed with coronavirus last year.

Amitabh Bachchan, along with Abhishek Bachchan, 45, and Aishwarya Rai Bachchan, 47, had tested positive for COVID-19 in July 2020. His granddaughter, Aaradhya (nine) too had contracted the virus. They were admitted to a private hospital here for treatment and were discharged later. Amitabh Bachchan will next be seen in sports-drama ”Jhund”, directed by Nagraj Popatrao Manjule, which debuts in theatres on June 18. His other release for the year, ”Chehre”, will open theatrically on April 30.

Click here: For the latest news and updates on COVID-19

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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Myanmar police crack down on protests for second day

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

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Summary

Police were out on the streets in force again at the main protest site in the city of Yangon early on Sunday as hundreds of protesters, many clad in protective gear, began to congregate, a witness said.

Myanmar police threw stun grenades and fired into the air on Sunday to disperse opponents of military rule, sustaining a sweeping crackdown launched the previous day when security forces arrested hundreds in town and cities across the country.

The action to stamp out the protests came after state television announced that Myanmar’s UN envoy had been fired for betraying the country after he urged the United Nations to use ”any means necessary” to reverse the Feb. 1 coup that ousted elected leader Aung San Suu Kyi.

Myanmar was thrown into chaos when the army seized power and detained Suu Kyi and much of her party leadership, alleging fraud in a November election her party won in a landslide.

The coup, which stalled Myanmar’s progress toward democracy after nearly 50 years of military rule, has brought hundreds of thousands of protesters onto the streets and drawn condemnation from Western countries, with some imposing limited sanctions.

Police were out on the streets in force again at the main protest site in the city of Yangon early on Sunday as hundreds of protesters, many clad in protective gear, began to congregate, a witness said.

Police moved swiftly to break up groups. ”Police threw stun grenades at us,” said protester Myint Myat, 29. ”We had to run and hide but I’ll get out again because today is very important. If all of us get out, they can’t win.”

Police in the second city of Mandalay fired guns into the air, trapping protesting medical staff in a city hospital, a doctor there said by telephone. Police and the spokesman for the ruling military council were not available for comment.

Saturday brought disturbances in towns and cities across the country as police moved forcefully to crush the protests, firing tear gas, setting off stun grenades and shooting into the air.

Uniformed police and plain-clothes security men set upon some people with clubs, witnesses said.

One woman was shot and wounded in the central town of Monwya, 7Day News and an emergency worker said. 7Day and two other media organisations had earlier reported that she was killed.

Junta leader General Min Aung Hlaing has said authorities have been using minimal force. Nevertheless, at least three protesters have died over the days of turmoil. The army said a policeman has been killed in the unrest.

State-run MRTV television said more than 470 people had been arrested in all. It said police had given warnings before using stun grenades to disperse people.

Several journalists were among those detained, their media organisations and colleagues said.

’INSTIL FEAR’

Youth activist Esther Ze Naw said people were battling to overcome the fear of the military they had lived with for so long.

”This fear will only grow if we keep living with it and the people who are creating the fear know that. It’s obvious they’re trying to instil fear in us by making us run and hide,” she said.

”We can’t accept that.”

Saturday’s violence came after Myanmar’s Ambassador Kyaw Moe Tun told the U.N. General Assembly he was speaking on behalf of Suu Kyi’s government and appealed for help to end the coup.

MRTV television said he had been fired in accordance with civil service rules because he had ”betrayed the country” and ”abused the power and responsibilities of an ambassador”.

However, the United Nations has not officially recognised the junta as Myanmar’s new government.

The ambassador vowed to fight on.

”I decided to fight back as long as I can,” Kyaw Moe Tun told Reuters in New York.

UN Special Rapporteur Tom Andrews said he was overwhelmed by the ambassador’s ”act of courage”, adding on Twitter, ”It’s time for the world to answer that courageous call with action”.

Myanmar’s generals have traditionally shrugged off diplomatic pressure. They have promised to hold a new election but not set a date.

Suu Kyi’s party and supporters said the result of the November vote must be respected.

Suu Kyi, 75, spent nearly 15 years under house arrest during military rule. She faces charges of illegally importing six walkie-talkie radios and of violating a natural disaster law by breaching coronavirus protocols.

The next hearing in her case is set for Monday.

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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Nearly 96% people faced drop in earnings during lockdown: Survey

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

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Summary

Before the lockdown, nearly 70 percent of the respondents had a monthly income Rs 7,000, while the remaining earned about Rs 3,000 per month.

Nearly 96 percent of the people surveyed under a food rights campaign in Maharashtra faced a drop in their earnings during the coronavirus-induced lockdown last year, claims a social body. Job losses and non-availability of casual work were the key reasons for this, and every fifth respondent was forced to go hungry because of no money to buy food, Mukta Srivastava, the state’s convener for the Anna Adhikar Abhiyan, told reporters here on Saturday.

The Abhiyan, comprising a group of activists from food and nutrition sector, surveyed a total of 250 people in May and September last year in Mumbai, Thane, Raigad, Pune, Nandurbar, Solapur, Palghar, Nashik, Dhule and Jalgaon. The Centre announced a nationwide lockdown in March last year following the outbreak of COVID-19 in the country.

Later, after a few months, restrictions were gradually eased in a phased manner. ”Around 96 percent people out of those surveyed admitted that their earnings dropped sharply in the lockdown period, and their situation remained the same five months after the lockdown was lifted,” Srivastava said.

Of the total respondents, 52 percent were from rural areas and the rest from urban limits. Those surveyed included 60 percent women, she said. Before the lockdown, nearly 70 percent of the respondents had a monthly income Rs 7,000, while the remaining earned about Rs 3,000 per month, Srivastava said.

”The drop in such already low incomes underscores how hard they would have been hit,” she said. Nearly 49 percent of respondents of the survey, conducted as part of the nationwide Right to Food Campaign, had to borrow money from friends and relatives to buy food, she said.

Asked about the earning status of respondents in the first few months after the lockdown came into force last year, Srivastava said, ”During April and May, 43 percent people had no income at all. Only 10 percent of them have come back to their pre-lockdown income levels.” The situation of 34 percent respondents, who had no income in April and May, remained unchanged till September- October, she said. The findings also revealed that 12 percent of these people sold their jewellery while three percent sold their land during the lockdown to buy food, Srivastava said.

In nutritional aspects, the survey showed lower consumption of cereals (by 63 percent), vegetables (76 percent), pulses (71 percent) and non-vegetarian food (82 percent), she added.

Click here: For the latest news and updates on COVID-19

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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Budget session of Maharashtra Legislature from Monday

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

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Summary

A draft of the Shakti Act, which provides for strict punishment for crime against women and children, is under consideration of a joint select committee of both Houses.

The Budget session of the Maharashtra Legislature will begin on Monday under the shadow of a surge in COVID-19 cases in the state, and is likely to be a stormy affair with the opposition BJP expected to corner the state government over various issues. The 10-day-long budget session will have eight working days and the budget will be tabled on March 8.

Bills pertaining to departments such as revenue, higher education and home are likely to be taken up. A draft of the Shakti Act, which provides for strict punishment for crime against women and children, is under consideration of a joint select committee of both Houses.

The state budget session is normally held for six weeks, but in view of the current pandemic situation, it has been curtailed. The BJP recently alleged that the Uddhav Thackeray-led Maha Vikas Aghadi (MVA) government was trying to curtail the session on the pretext of coronavirus situation to run away from debate on its ”failures”.

However, state Parliamentary Affairs Minister Anil Parab on Thursday claimed that it was opposition parties which wanted a one-day session. The session will start with the address of Governor Bhagat Singh Koshyari to the joint sitting of the state Legislative Assembly and Council.

The state government will also table supplementary demands on the first day. The House will hold discussion on the governor’s speech on March 2, while next two days are reserved for discussion on supplementary demands, Parab said. The governor has so far not approved 12 names recommended by the cabinet for nomination to the Legislative Council.

According to Parab, the Legislature will discuss proposals of opposition parties on March 5 and some bills will also be tabled. There will be no sittings on March 6 and 7.

Parab had claimed that the opposition suggested a one-day session due to the COVID-19 situation, ”but we decided to have a ten-day session”. Leader of Opposition in the Assembly Devendra Fadnavis recently pointed out that election of the new Speaker was not on the agenda of the meeting.

The post fell vacant following the resignation of Nana Patole, who has taken over as the Congress’s state unit chief. The state Legislature’s budget session was curtailed last year also in the wake of the outbreak of COVID-19.

On Saturday, Maharashtra reported more than 8,000 new COVID-19 cases on the fourth straight day, raising the caseload in the state to 21,46,777. The death toll in the state due to the pandemic has reached 52,092, as per official data.

Chief Minister Uddhav Thackeray last Sunday asked to follow ”COVID-appropriate” behaviour and safety norms, and said he would observe for a week to 15 days and then decide whether to impose another lockdown. The BJP has accused the government of mismanagement of the COVID-19 crisis and failure to boost development works.

It will raise in the House the issue of state Forest Minister Sanjay Rathod’s name being linked to the death of the woman in Pune. The BJP had earlier warned that it would not allow the Budget session to proceed smoothly if Rathod did not resign.

The minister has denied the allegations against him. The government is also likely to face questions from the opposition over the last month’s fire at a hospital in Bhandara where 10 newborn babies died, and delay in help to farmers affected by floods and cyclone in parts of the state.

Incidents of atrocities against women in COVID-19 care centres and alleged corruption in various government departments are also likely to be raised during the session. Fadnavis a few days back said the government did not want to be questioned on issues such as ”rampant corruption”.

Click here: For the latest news and updates on COVID-19

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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Mann Ki Baat Highlights: Here’s what PM Modi said in his 74th radio address

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

 Listen to the Article (6 Minutes)

Summary

Modi called for a 100-day campaign to clean up all water bodies and prepare them for rainwater harvesting before the monsoon season starts.

Aatmanirbhar Bharat is the national spirit of India, said PM Narendra Modi while addressing the nation during the 74th edition of his monthly radio programme, Mann Ki Baat on Sunday.

Here are the key highlights from the speech:

  • PM Modi spoke about the importance of water conservation in our lives.
  • We must understand our responsibility towards water conservation. In a few days, the Jal Shakti Ministry will launch a campaign ‘Catch the Rain’. Its slogan is ‘Catch the Rain, where it falls, when it falls.’
  • Modi called for a 100-day campaign to clean up all water bodies and prepare them for rainwater harvesting before the monsoon season starts.
  • During this month of ‘magh’, Haridwar is hosting Kumbh this year. On March 22, World Water Day will be celebrated. To associate ‘magh’ month with water is that after this month winters and summers begin.
  • Modi praised the ‘innovative spirit’ of the country and said that Sant Ravidas would have been satisfied to see today’s youth.
  • “In the run-up to Mann Ki Baat, I was asked if there was something I missed out on during these long years as chief minister and prime minister. I feel — it is a regret of sorts that I could not make enough efforts to learn the world’s oldest language Tamil. Tamil literature is beautiful,” Modi said.

-with agency inputs

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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PSLV rocket lifts off with 19 satellites from Brazil, US and India

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

 Listen to the Article (6 Minutes)

Summary

ISRO’s PSLV-C51 rocket loaded with 19 satellites from Brazil, the US and India lifted off from the rocket port at Sriharikota in Andhra Pradesh on Sunday morning.

India’s Polar Satellite Launch Vehicle-C51 (PSLV-C51) rocket loaded with 19 satellites from Brazil, the US and India lifted off from the rocket port at Sriharikota in Andhra Pradesh on Sunday morning.

The rocket carrying Brazil’s 637-kg Amazonia-1 satellite as its primary passenger and 18 others (13 from the US and five from India including a defence satellite) as co-passengers lifted off from the first launch pad at Satish Dhawan Space Centre (SDSC) here at 10.24 a.m. on Sunday.

India’s first space mission for 2021 is one of the longest for a PSLV rocket and is expected to conclude 1 hour, 55 minutes and 7 seconds into its flight.

If all goes well India will end the mission orbiting a total of 342 foreign satellites, all for a fee.

The rocketing is a fully commercial one of NewSpace India Ltd (NSIL) with the primary passenger being the Amazonia-1 satellite.

At 10.24 a.m. the 44.4-metre tall PSLV-C51 rocket blasted off from the first launch pad here and slowly rose-up towards the skies with thick orange flame at its tail.

The rocket slowly gained speed as it went up while emitting a rolling thunder sound.

Amazonia-1 is the optical earth observation satellite of the National Institute for Space Research (INPE).

This satellite would further strengthen the existing structure by providing remote sensing data to users for monitoring deforestation in the Amazon region and analysis of diversified agriculture across the Brazilian territory, the Indian Space Research Organisation (ISRO) said.

The 18 co-passenger satellites include four from IN-SPACe (three UNITYsats from a consortium of three Indian academic institutes (Jeppiaar Institute of Technology, Sriperumbudur, G.H.Raisoni College of Engineering, Nagpur and Sri Shakthi Institute of Engineering and Technology, Coimbatore), one Satish Dhawan Sat from Space Kidz India) with an engraved picture of Prime Minister Narendra Modi on it as well as Bhagavad Gita in a flash.

The remaining 14 satellites Sindhu Netra, an Indian technology demonstration satellite from Defence Research Development Organisation’s (DRDO) research centre Imarat, Hyderabad to identify suspicious ships and 13 satellites from the US viz., SAI-1 NanoConnect-2, a technology demonstration satellite and 12 SpaceBees satellites for two-way satellite communications and data relay.

For the third time, ISRO is using the PSLV rocket’s DL variant that will have two strap-on booster motors.

In normal configuration, the PSLV is a four-stage/engine expendable rocket powered by solid and liquid fuels alternatively. Six booster motors will also be strapped on to the first stage to give higher thrust during the initial flight moments.

But the 44.4-metre tall PSLV rocket that flew on Sunday was the DL variant having only two strap-booster motors. This variant was used for the first time to put the Microsat R satellite into orbit on January 24, 2019.

The Indian space agency has PSLV variants with two and four strap-on motors, larger PSLV-XL and the Core Alone variant without any strap-on motors.

The choice of the rocket to be used for a mission depends on the weight of the satellite and the orbit where the satellite has to be orbited.

Be that as it may, the PSLV-C51 mission is one of the longest ones.

As per its flight plan, the rocket will put the 19 satellites into Sun Synchronous Orbit over a duration of 1 hour, 55 minutes and 7 seconds.

During its flight, the rocket’s fourth stage engine will be cut off and restarted a couple of times, the first one will be at 16 minutes into its flight.

Seventeen minutes into its flight the rocket will sling the Brazilian satellite Amazonia-1.

Just over one hour into its flight the rocket’s engine will be restarted for about nine seconds before it is shut down again.

After 1 hour, 49 minutes and 52 seconds the rocket’s engine will be reignited for eight seconds after which the 18 piggyback satellites will be put into orbit.

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
Quiz
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Should Elon Musk be able to buy Twitter?