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Russia-Ukraine War: Would Vladimir Putin actually be able to rule Ukraine?

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

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Summary

Russia-Ukraine War: Even if victorious, Vadimir Putin won’t be able to achieve what he wants because to ultimately win, he’ll need to govern a country conquered against its will.

Ukrainian resistance to Russia’s invasion has been fierce since Vladimir Putin attacked the country, raising questions about whether he’d be able to rule Ukrainians as he pleases if he’s ultimately successful in winning the war in military terms. There are good reasons to believe that he wouldn’t. Even if victorious, Putin won’t be able to achieve what he wants because to ultimately win, he’ll need to govern a country conquered against its will.

How well a country is governed depends on its culture more precisely, on how compatible its culture is with the model of the government put in place. The late American political scientist Harry Eckstein, an expert in political culture, once argued that governments perform well if their authority patterns are similar to the authority patterns of the governed society.

In stable democracies, all organizations including households have some elements of democratic rule. Conversely, in autocracies, power tends to be centralized at all levels of social organization. The father of the nation, a popular concept in Russia, is expected to act very much like the father of a family. Power distance’ The concept of power distance, originally proposed by the late Dutch social psychologist Geert Hofstede, helps measure to what extent inequality in the distribution of power is socially accepted.

Also Read: Russia-Ukraine war: Europe to be worst hit, India will be significantly impacted too, say experts

The bigger the value of the power distance index, the more inequality is accepted, although Hofstede was interested mostly in the distribution of power within companies. An in-depth comparative study of the perception of power conducted in Russia and Ukraine in 2015-16 shows Ukrainians and Russians regard power differently. The value of power distance index is 100.9 in Ukraine compared to 110.7 in Russia. Educated and well-off Ukrainians have a particularly low tolerance for inequality in the distribution of power.

Putin’s potential rule in Ukraine is therefore problematic because it would not match the model of power that Ukrainians are prepared to accept. Suspicion and rejection of autocratic power is deeply rooted in Ukrainian culture. The impact of the Cossacks Ukraine’s most renowned historian, Mykhailo Hrushevsky, considers the Cossacks of the 15th and 16th centuries the predecessors of modern-day Ukraine.

The Cossacks border militia hired by the Polish and Russian governments to protect against raids by the Tatars had a reputation for being trouble-makers for any rulers, including the Poles, the Tatars and the Russians. Hrushevsky described the Cossacks as people knowing no authority over them. Even the Poles, who had their own problems with the concept of centralized power, called the Cossacks unruly. Cossack military leaders, or starshina, were elected and easily replaceable. After a military loss, the Cossacks usually gathered and elected a new leader. No one among them possessed power permanently and with no strings attached.

Does the Cossack heritage still influence Ukraine’s culture, at least as far as the perception of power and those who possess it are concerned? The fierce resistance Ukrainian forces are showing against their Russian invaders suggest it might. Ukrainian national culture was suppressed during the Soviet Union era and denigrated by Russia. That could explain Putin’s allegations that Ukrainians are ruled by nationalists and neo-Nazis.

Also Read | Explained: Why is Ukraine so popular among Indian medical students

Elements of Cossack culture were revived during the mass protests in 2013-14 against the former Ukrainian president’s efforts to replicate Putin’s style of governance. The protesters organized their tent camp in the centre of Kyiv along the organizational and spatial lines of Cossack military camps. War creates nations War often serves a trigger for the revival of a nation’s consciousness. British historical sociologist Anthony D. Smith, an authority on nations and nationalism who died in 2016, wrote that warfare is one of the most powerful factors in the creation of both nations and ethnic communities in every period of history.

The 2014-15 military confrontation in eastern Ukraine and Crimea had precisely this effect. Today’s full-fledged war waged by Putin will hardly be an exception. It will likely lead to an outcome clearly unanticipated by Putin the further rejection by Ukrainians of autocratic rule. If one placed Ukraine and Russia on a continuum from anarchy to autocracy, Ukraine would be closer to anarchy whereas Russia is an autocracy. Russia has always been a power-centred society where all key decisions are expected to be taken by a few ideally, by one.

The alignment of Putin’s rule with the perception of power rooted in Russian culture explains its exemplary stability, at least so far mass protests against the Ukrainian invasion in several Russian cities suggest growing dissent. Nonetheless, Russia and Ukraine appear to be almost perfect opposites, reducing the chance that Ukraine could be governed in a friendly manner by Putin’s Russia even if it wins the war. The war in Ukraine confirms that power is about force in the Russian mindset. For Putin to transfer that mentality to Ukrainians would be a very difficult if not impossible task.

Follow latest updates on Russia-Ukraine war on CNBCTV18.com’s blog 

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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Globe Teleservices announces strategic investment in EYWAMEDIA

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

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Summary

With the new strategic investment in EYWAMEDIA, Globe Teleservices is determined to ensure its foray into the coveted Telco sector, with new product offerings like CPaaS and CVM into the worldwide markets.

Leading telecom solution company, Globe Teleservices Pte Ltd (GTS) on Tuesday announced a strategic investment in EYWAMEDIA, an award-winning, CX-focused SaaS company.

An independent leader in O2O Customer Experience (CX) Cloud, EYWAMEDIA enables enterprises to engage their most potential and loyal customers, matching their products with their customer’s preferences based on offline-online data points.

Specialising in products and services in the voice and messaging domain, anti-fraud solutions, Singapore-based Globe Teleservices works closely with over 100 mobile operators and has a global presence across the world.

Also Read | Bharti Airtel acquires strategic stake in blockchain technology startup Aqilliz

With the new investment, Globe Teleservices is determined to ensure its foray into the coveted Telco sector, with new product offerings like CPaaS and CVM into the worldwide markets.

“EYWAMEDIA provides insights into customers behaviour by analysing multitude of data points (first party and third party) to predict and influence their preferences. This immensely helps to deliver value to both customers and enterprises that wish to build lasting relationships with them,” said Ashutosh Agrawal, MD, Globe Teleservices.

Welcoming the partnership, Ramasubramaniya Raja, Co-founder and CEO of EYWAMEDIA said, “We are elated to join hands in this riveting space of O2O customer experience and expand it to the Telco sector as well. They have seen the benefits we bring to the market using our 360-degree customer experience via our technology capabilities and in GTS we have a perfect partner who can fathom the huge added value that our ADTARBOTM CX CLOUD Suite delivers to enterprise.”

Also Read | India’s mobile subscriber count down by 1.28 crore in Dec 2021: TRAI data

“We at EYWAMEDIA during our 6+ years of evolution, have been able to crack the code of understanding consumer journeys across offline and online touchpoints, personalise communications throughout multiple channels and build meaningful continuing conversations between ventures and their customers,” Anshuman Chaudhary, Co-founder and CBO of EYWAMEDIA said.

Globe Teleservices joins the EYWAMEDIA family along with erstwhile investors ah! Ventures Angel Network, Wintech Ventures and Kyron Accelerator.

Giving an existing investors’ perspective, Abhijeet Kumar, ah! Ventures and Winston Ling, Wintech Ventures, said, “As the world gets further connected through multiple devices, the ability to analyse data in real-time and give actionable intelligence to SMB and enterprises becomes super critical!”

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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‘Peace is important’: Two Russian oligarchs speak out against Russia-Ukraine conflict

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

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Summary

Two of the richest men in Russia Mikhail Fridman and Oleg Deripaska have broken ranks with Kremlin and called for an end of the conflict in Ukraine.

Two Russian oligarchs Mikhail Fridman and Oleg Deripaska have broken ranks with Kremlin and called for an end to the conflict in Ukraine.

Fridman, 57, who was born in western Ukraine, called the ongoing war between Russia and Ukraine a “tragedy for them both”.

One of Russia’s richest men, Fridman controls private equity firm LetterOne and is also the founder of Russia’s largest private lender and fourth-biggest financial services firm Alfa Bank. The Alfa Group, which Fridman chairs, operates primarily in Russia and former Soviet states and has business in the banking, insurance, retail and mineral water sectors. According to the Bloomberg Billionaire’s Index, Fridman’s current net worth is $11.4 billion.

Last week, Alfa Bank was hit by sanctions imposed by the US that will prevent it from raising money in America.

In a letter to the staff of LetterOne, Fridman said the war was driving a wedge between the Slav people of Russia and Ukraine who have been brothers for centuries, Reuters reported.

Talking of his Ukrainian roots, Fridman said his parents still reside in Lviv, which he described as his favourite city. He also confessed that he lived much of his life as a citizen of Russia, building and growing businesses and was deeply attached to the people of both countries.

“While a solution seems frighteningly far off, I can only join those whose fervent desire is for the bloodshed to end,” he said in the letter that was first viewed and reported by Financial Times.

Another Russian billionaire Oleg Deripaska, who made his fortune in the aluminum business, echoed Fridman’s call for peace.

“Peace is very important!” Deripaska said in a post on messaging app Telegram on Sunday, hoping that negotiations would start as soon as possible.

Born in Soviet Russia, Deripaska, 54, founded Russian aluminium giant Rusal. He still holds a stake in the behemoth through shares in its London-listed parent company EN+ Group.

After the collapse of the Soviet Union, Deripaska made a massive fortune from the chaotic scramble for assets. According to Forbes, Deripask’s current net worth is $3.9 billion.

He has been on the US sanctions list since 2018 for his alleged links with Russian President Vladimir Putin, which he has challenged in court. On February 21, Deripaska had said there would not be a war between Russia and Ukraine.

Read Also | BP to exit Russia oil giant Rosneft at cost of $25 billion over Ukraine invasion

Read Also | The Oligarchs: Here are Russia’s five richest individuals

Follow Russia-Ukraine war latest updates on CNBCTV18.com’s blog

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

3 Mins Read

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

 Daily Newsletter

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

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today's market

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

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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New Air India CEO Ilker Ayci declines offer 2 weeks after appointment by Tata group

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

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Summary

New Air India CEO Ilker Ayci has declined the job offer at the national carrier two weeks after he was offered the role by Tata Sons, sources told CNBC-TV18.

Ilker Ayci has declined the position of chief executive officer (CEO) at Air India two weeks after he was offered the role by Tata Sons, sources told CNBC-TV18 on Tuesday.

The Tata group company, which recently took over the national carrier, had announced the appointment of Ayci as Air India CEO and managing editor on February 14.

The former Chairman of Turkish Airlines, who was on the board of the company, was expected to join Air India as CEO on or before April 1.

At the time of announcing Ayci appointment, Tata Sons Chairman N Chandrasekaran had said, “Ilker is an aviation industry leader who led Turkish Airlines to its current success during his tenure there. We are delighted to welcome Ilker to the Tata Group where he would lead Air India into the new era.”

Ayci had then said, he was delighted to join the Tata Group. “Working closely with my colleagues at Air India and the leadership of the Tata Group, we will utilize the strong heritage of Air India to make it one of the best airlines in the world with a uniquely superior flying experience that reflects Indian warmth and hospitality,” he said earlier this month.

Born in Istanbul in 1971, Ayci is a 1994 alumni of Bilkent University’s Department of Political Science and Public Administration. After a research stay on political science at the Leeds University in the UK in 1995, he completed an International Relations Master’s program at the Marmara University in Istanbul in 1997.

Since 2015, Ayci had been the chairman of the Board and the Executive Committee at Turk Hava Yollari Anonim Ortaklığı (THY), also known as Turkish Airlines. Prior to that he worked in various fields, including at investment firms and insurance companies.
Notes :

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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Monthly GST collection crosses Rs 1.3 lakh crore for 5th time

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

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Summary

February is the fourth month when Goods and Services Tax (GST) collection has crossed the Rs 1.30 lakh crore, and eighth month in a row when it stayed above the Rs 1 lakh crore mark.

GST collection in February topped over Rs 1.33 lakh crore, registering a jump of 18 percent year-on-year basis, the Finance Ministry said on Tuesday. February is the fourth month when Goods and Services Tax (GST) collection has crossed the Rs 1.30 lakh crore, and eighth month in a row when it stayed above the Rs 1 lakh crore mark.

“The gross GST revenue collected in the month of February 2022 is Rs 1,33,026 crore of which CGST is Rs 24,435 crore, SGST is Rs 30,779 crore, IGST is Rs 67,471crore (including Rs 33,837 crore collected on import of goods) and cess is Rs 10,340 crore (including Rs 638 crore collected on import of goods),” the release read.

Source: PIB

The revenue stayed above the Rs 1.30 lakh crore mark despite the Omicron-led curbs in the month of February, which also is a shorter 28-day month, the Finance Ministry said.

“February, being a 28-day month, normally witnesses revenues lower than that in January. This high growth during February 2022 should also be seen in the context of partial lockdowns, weekend and night curfews and various restrictions that were put in place by various States due to the omicron wave, which peaked around 20th January,” it added.

The GST collection in January 2022 had crossed Rs 1.38 lakh crore mark.

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

3 Mins Read

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

 Daily Newsletter

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

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

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today's market

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

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Microsoft CEO Satya Nadella’s son Zain Nadella passes away at 26

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

 Listen to the Article (6 Minutes)

Summary

Satya Nadella’s son Zain Nadella was 26 years old and had been born with cerebral palsy. He received most of his treatment at the Children’s Hospital in the US.

Microsoft Corp CEO Satya Nadella and his wife Anu’s son Zain Nadella passed away on Monday morning. He was 26 years old and had been born with cerebral palsy.

The software maker in an email told its executive staff that Zain had passed away and asked the executives to hold the family in their thoughts and prayers while giving them space to grieve privately.

Jeff Sperring, CEO of Children’s Hospital, where Zain received much of his treatment, said “Zain will be remembered for his eclectic taste in music, his bright sunny smile and the immense joy he brought to his family and all those who loved him.” He wrote the message to his Board, which was shared with Microsoft executives.

Since taking on the CEO’s role in 2014, Nadella has focused the company on designing products to better serve users with disabilities and cited lessons he learned raising and supporting Zain.

Last year, the Children’s Hospital joined with the Nadella’s to establish the Zain Nadella Endowed Chair in Pediatric Neurosciences, as part of Seattle Children’s Center for Integrative Brain Research.

Telugu Desam Party (TDP) national president and former Chief Minister N. Chandrababu Naidu expressed his condolences. “Deeply pained to learn of the passing away of young Zain Nadella. Condolences to Anupama Ji, @satyanadella and family. May god give them strength through this difficult time. Om Shanthi,” he tweeted.

Chandrababu Naidu’s son N Lokesh also expressed anguish over Zains’s demise. “Anguished with the news of Zain Nadella’s demise. Heartfelt condolences to the bereaved parents and family. I pray to God to give them enough strength to bear this profound grief and may the departed soul rest in peace. @satyanadella,” he said in a tweet.

 

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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From LPG to jet fuel, key changes that come into force from March 1

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

 Listen to the Article (6 Minutes)

Summary

The price of aviation turbine fuel as well as commercial LPG cylinders has been raised from March 1, 2022. Petrol and diesel prices were left unchanged for more than 100 days.

Businesses have to account for two important price changes from March 1, 2022. Effective Tuesday, the price of aviation turbine fuel (ATF), as well as commercial LPG cylinders, has been increased.

For domestic flights, the price of aviation turbine fuel (ATF)– or jet fuel — was increased by Rs 3010.9 per kilolitre each in Delhi and Mumbai.

After the revision, the price of jet fuel stands at Rs 93,530.7 per kilolitre in the national capital Delhi.

Jet fuel price for domestic airlines (with effect from March 1, 2022)

City Price (in rupees/Kl)
Delhi 93,530.66
Kolkata 97,899.58
Mumbai 91,998.08
Chennai 96,478.40

Source: Indian Oil Corp

ALSO READ: BSE, NSE shut on Mar 1 for Mahashivratri

Jet fuel price for domestic airlines on international run

City Price (in dollars/Kl)
Delhi 930.77
Kolkata 969.29
Mumbai 924.13
Chennai 924.42

Source: Indian Oil Corp

Also with effect from today, the price of commercial LPG cylinders of 19 kg was raised by Rs 105 in the national capital to Rs 2,012.

Meanwhile, petrol and diesel rates were left unchanged. In Delhi, consumers pay Rs 95.41 per litre for petrol and Rs 86.67 a litre for diesel.

Here are the current prices of petrol and diesel in the four metros (in rupees per litre):

City Petrol Diesel
Delhi 95.41 86.67
Kolkata 104.67 89.79
Mumbai 109.98 94.14
Chennai 101.40 91.43

Source: Indian Oil Corp

ALSO READ: Banks to be closed for 13 days in March

State-run oil retailers Indian Oil, Bharat Petroleum and Hindustan Petroleum, which review the prices of petrol and diesel on a daily basis, have kept the rates on hold for more than 100 days. Any changes in petrol and diesel rates are implemented at fuel stations with effect from 6 am.

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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Win WRX (WazirX token) worth Rs. 1500.
Question 1 of 5

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

Answer Anonymously

Should Elon Musk be able to buy Twitter?

 5 Minutes Read

Assembly Elections 2022 highlights: UP polls seem to be of ‘chhalia’ versus Ballia, says Akhilesh Yadav

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

 Listen to the Article (6 Minutes)

Summary

Assembly Elections 2022 Live Updates: The first phase of Manipur Assembly Elections concluded on Monday with the north-eastern state recording a voter turnout of 78.03 percent as 38 constituencies went to the polls. The sixth and seventh phases of Uttar Pradesh elections will be held on March 3 and March 7 respectively. Poll campaigning in Uttar Pradesh is going on full swing with political parties going all-out in to woo the voters and attack opponents. Results of the seven-phase Assembly polls across five states will be declared on March 10. Follow LIVE Updates on Assembly Elections 2022 here

Assembly Elections 2022 Live Updates: The first phase of Manipur Assembly Elections concluded on Monday with the north-eastern state recording a voter turnout of 78.03 percent as 38 constituencies went to the polls. The sixth and seventh phases of Uttar Pradesh elections will be held on March 3 and March 7 respectively. Poll campaigning in Uttar Pradesh is going on full swing with political parties going all-out in to woo the voters and attack opponents. Results of the seven-phase Assembly polls across five states will be declared on March 10. Follow LIVE Updates on Assembly Elections 2022 here

 

 

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

3 Mins Read

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

 Daily Newsletter

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

Previous Article

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

Next Article

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

LIVE TV

today's market

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

Currency

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

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

Answer Anonymously

Should Elon Musk be able to buy Twitter?

 5 Minutes Read

MG Motor India records 5% growth in retail sales in February 2022

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

 Listen to the Article (6 Minutes)

Summary

MG Motor India said, “The demand remains robust as the company has garnered a healthy booking pace and is experiencing a promising growth momentum while working its way through the supply chain constraints.”

MG Motor India on Tuesday announced that it has retailed 4528 units in February 2022, accounting for a growth of 5% over the corresponding month last year. The automaker had retailed 4,329 units in February 2021.

“The demand remains robust as the company has garnered a healthy booking pace and is experiencing a promising growth momentum while working its way through the supply chain constraints,” MG Motor India said in a statement.

It noted that Astor has attained a strong interest among the buyers, and the company is continuously working to increase the supply of the model to meet the rising demand.

Also Read | MG Motor to drive in new EV this year for UK consumers

“Besides this, Hector and Gloster continue to exhibit good sales trends in their respective segments,” the company added.

The automaker stated that it is set to launch the all-new ZS EV in the country soon.

(With inputs from PTI)

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

3 Mins Read

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

 Daily Newsletter

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

Previous Article

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

Next Article

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

LIVE TV

today's market

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

Currency

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

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

Answer Anonymously

Should Elon Musk be able to buy Twitter?

 5 Minutes Read

Ashneer Grover resigns as BharatPe MD: A timeline

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

 Listen to the Article (6 Minutes)

Summary

Ashneer Grover, co-founder and managing director of BharatPe, has resigned from the fintech company. His appeal against the internal probe in BharatPe was rejected by the emergency arbitrator on all five grounds.

A day after BharatPe co-founder and managing director Ashneer Grover lost an arbitration that he had filed against the company’s investigation against him, he has resigned from the fintech company with immediate effect. According to media reports, he will continue as the single largest individual shareholder of the company.

Following allegations of using abusive language against Kotak Mahindra Bank staff and fraudulent practices, Grover had taken a two-month leave of absence and had filed an arbitration plea with the Singapore International Arbitration Centre (SIAC) claiming the company’s investigation against him was illegal. However, his appeal was rejected by the emergency arbitrator (EA). So far, neither BharatPe nor Grover has issued a public statement on the development.

Here’s how BharatPe-Ashneer Grover controversy unfolded:

March 2018: Ashneer Grover and Shashvat Nakrani founded BharatPe.

February 2019: BharatPe raised $14.5 million in a Series A funding round.

June 2019: BharatPe raised $50 million in a Series B funding round.

February 2020: BharatPe raised $75 million in Series C funding.

August 2020: Grover had a heated exchange with Harshjit Sethi, Sequoia Capital India’s Managing Director, after the investing firm retracted on providing the investment promised in BharatPe’s Series B funding round.

February 2021: BharatPe raised $108 million in a Series D funding.

August 2021: BharatPe became a unicorn after raising $370 million in a Series E funding round.

August 2021: Sameer Suhail, who joined BharatPe in 2020, is appointed CEO.

October 10, 2021: Grover, and his wife Madhuri Grover applied for Nykaa’s IPO through Kotak Mahindra Bank.

October 28, 2021: Citing high lending rates, Kotak Mahindra Bank told Grover and his wife that the bank cannot provide IPO financing.

October 30, 2021: Grover sent a legal notice to Kotak Mahindra Bank and Uday Kotak.

October 2021: Directorate General of GST Intelligence searched BharatPe’s head office.

January 5, 2022: An audio clip was leaked on social media where Grover was allegedly threatening and abusing Kotak Bank’s staff member over Nykaa’s IPO.

January 6, 2022: Grover called the audio clip fake.

January 9, 2022: Kotak Mahindra Bank said it will send legal notice to Grover and his wife.

January 17, 2022: The emails, in which Grover allegedly used foul language for Harshjit Sethi, became public.

January 19, 2022: Grover takes voluntary leave till March 2022.

January 29, 2022: Madhuri Grover, Head of Controls at BharatPe, takes voluntary leave as well.

January 29, 2022: BharatPe appoints Alvarez and Marsal (A&M), New York-based professional services firm, for an internal audit at the board’s recommendation.

January 29, 2022: Media reports, citing sources, claim that BharatPe is likely to terminate Ashneer Grover.

January 30, 2022: Grover hires a Delhi law firm as pressure mounts for him to leave the company.

February 4, 2022: Investigations by A&M reveal inconsistencies in payment transactions. The audit report said all invoices generated were from Panipat — Grover’s wife Madhuri and his brother-in-law Shwetank Jain’s native town. The “fake invoices” fraud was estimated at Rs 10.97 crore.

February 4, 2022: Grover seeks the removal of Suhail Sameer from the board.

February 10, 2022: Madhuri writes to Alvarez & Marsal (A&M) questioning the consulting firm about recent media leaks. Her letter threatens legal action against the firm.

February 22, 2022: Grover files an arbitration plea in Singapore, looking to protect his 9.5% stake in the company.

February 23, 2022: BharatPe sacks Madhuri on charges of misappropriating funds.

February 27, 2022: Grover lost the arbitration that he had filed against the company’s investigation against him. EA rejected all the five grounds of relief.

February 28, 2022: Grover steps down as BharatPe’s managing director.

Read Also | Ashneer Grover says investigation a sham, seeks to learn from Nithin Kamath and Bhavin Turakhia to build bootstrapped firms

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

3 Mins Read

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

 Daily Newsletter

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

Previous Article

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

Next Article

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

LIVE TV

today's market

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

Currency

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

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

Answer Anonymously

Should Elon Musk be able to buy Twitter?