5 Minutes Read

Big blow for India before ODI World Cup? Axar Patel injured, Washington Sundar added as cover in Asia Cup team

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

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Summary

Sundar, 23, has played 16 ODIs and taken 16 wickets at an economy rate of 5.05. He has also slammed 233 runs with a half-century to his name. He can bat at No. 8 if required and could be a possible replacement for Axar in the World Cup squad if the Delhi Capitals (DC) all-rounder fails to recover by then. 

Washington Sundar has been called up to join the Indian squad for the final of the Asia Cup 2023 as a cover for the injured Axar Patel. The Men in Blue are set to take on co-hosts Sri Lanka in the final of the showpiece event in Colombo on Sunday.

Axar sustained several injuries during India’s six-run loss to Bangladesh in their last Super Four match on Friday. The extent of Axar’s injuries is currently unknown and hence bowling all-rounder Washington, who was part of India’s Asian Games squad, has been called up as a precautionary measure.

“Axar is currently suffering from multiple injuries. He has hurt his little finger, got hit on forearm by a throw from deep and most importantly has developed a hamstring niggle. So Washington has been called,” a BCCI source told PTI on conditions of anonymity.

Also Read: Tim Southee likely to miss World Cup after injuring thumb in an ODI against England

More than the swelling on his forearm, it is Axar’s hamstring issue which will keep the Indian team management worried with just three weeks to go for the World Cup. Washington, who bowls off-spin, last played an ODI at home against New Zealand in January this year.

Sundar appears to be a like-to-like replacement to Axar but he adds the one missing dimension from the Indian bowling attack. He will now be the sole off-spinner in the Team India squad but it is unlikely that he would feature in the playing XI for the final. India will most likely field a bowling unit comprising Jasprit Bumrah, Mohammad Siraj, Shardul Thakur, Kuldeep Yadav, and Ravindra Jadeja against Sri Lanka.

Sundar, 23, has played 16 ODIs and taken 16 wickets at an economy rate of 5.05. He has also slammed 233 runs with a half-century to his name. He can bat at No. 8 if required and could be a possible replacement for Axar in the World Cup squad if the Delhi Capitals (DC) all-rounder fails to recover by then.

(With PTI 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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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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UAW, automakers to resume talks as strike starts to create parts shortage

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

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Summary

About 13,000 US auto workers stopped making vehicles and went on strike Friday after their leaders couldn’t bridge a giant gap between union demands in contract talks and what Detroit’s three automakers are willing to pay.

The United Auto Workers said it plans to resume bargaining on Saturday after launching its first simultaneous strikes at General Motors, Ford Motor and Chrysler parent Stellantis, with effects of the limited shutdown starting to spread on Friday.

The most ambitious US industrial labor action in decades has halted production at three plants producing the Ford Bronco, Jeep Wrangler and Chevrolet Colorado, along with other popular models.

The United Auto Workers said it plans to resume bargaining on Saturday after launching its first simultaneous strikes at General Motors, Ford Motor and Chrysler parent Stellantis, with effects of the limited shutdown starting to spread on Friday.

The most ambitious U.S. industrial labor action in decades has halted production at three plants producing the Ford Bronco, Jeep Wrangler and Chevrolet Colorado, along with other popular models.

At a rally on Friday afternoon and at picket lines during the day, union members protested loudly and took special aim at a two-tiered wage system that left new hires without the pay or benefits of seasoned hands. That was unfair and favored investors over workers, they said.

“We’re not going to wreck the economy. The truth is we are going to wreck the billionaire economy,” said UAW President Shawn Fain.

The union is demanding a bigger share of profits, shorter work weeks, restoration of defined benefit pensions and stronger job security as automakers shift to electric vehicles.

UAW vice president Chuck Browning, who is leading talks with Ford, told a rally of hundreds of UAW workers in downtown Detroit on Friday afternoon that recent talks have made “good progress, but we have far to go.”

U.S. President Joe Biden, who faces re-election next year, called for the auto companies to reward workers just as executives’ salaries have risen. “The companies have made some significant offers but I believe they should go further to ensure record corporate profits mean record contracts,” he said.

Striking workers said “tier two” employees can make only half the hourly wages of senior UAW workers and get worse benefits.

“That’s the biggest thing I hear in our plant: we were built on equal pay for equal work,” said Bruce Baumhower, the UAW president for the local including the striking Stellantis, Jeep plant in Toledo, Ohio.

Some two-tier systems were set in place during bankruptcies more than a decade ago. The starting wage for tier two workers of $15.78 now is on par with fast food restaurants and has not changed since it was set 14 years ago, he said.

“Fourteen years later, our workers are still in bankruptcy,” he added.

None of the Detroit Three has proposed eliminating those tiered wage systems, a key UAW demand, but they have offered to cut the time needed to reach top pay to four from eight years.

“I think they are making progress at the table,” said Arthur Wheaton, who teaches collective bargaining at Cornell’s School of Industrial and Labor relations. Automakers have raised wage offers and the UAW appears to be focusing its demands. “You’re no longer hearing anything about the 32-hours work week from the UAW,” he said.

Executives say the union’s asks would make the automakers uncompetitive against other nonunion rivals. Ford CEO Jim Farley said the UAW’s 40 percent wage hike demand would “put us out of business.” GM CEO Mary Barra on “CBS This Morning” on Friday said “We still have a ways to go with the offer they put on the table last night.”

Senator Bernie Sanders, speaking at the Friday rally, retorted, “I say to Ms. Barra, do you have any idea what it’s like for one of your workers to survive on $17 an hour?”

Friday’s walkout was smaller than some analysts expected. “Keep the other plants open,” said Sofus Nielsen, a 29-year Ford veteran, outside the Wayne plant. “This way we can be out here longer and hurt them more.”

The UAW has an $825 million strike fund but the automakers have built up billions thanks to robust profits from trucks and SUVs.

Biden on Friday said acting Labor Secretary Julie Su and adviser Gene Sperling will travel to Detroit to offer support for talks but the White House said they would not mediate.

Ford shares ended barely changed on Friday, GM stock rose about 1 percent and Stellantis shares earlier closed up 1.9 percent in Milan.

The automakers have offered up to 20 percent wage hikes, without key benefits demanded by the union.

Ford said the UAW’s latest proposals would double its U.S. labor costs and make it uncompetitive against Tesla and other nonunion rivals.

Stellantis said it had immediately gone into “contingency mode” and would take structural decisions to protect the company and its North American operations, without elaborating.

Nearly half the 12,700 striking workers are at the Stellantis plant, although management has been preparing: a parking lot of finished Jeeps is more than a mile long outside the factory.

GM said on Thursday the UAW wage and benefits proposals would cost the automaker $100 billion, but did not elaborate.

Fain has rejected the automakers’ assertions, saying the companies have spent billions on share buybacks and executive salaries.

While Biden is pouring billions in federal subsidies into expanding electric-vehicle sales, this shift could threaten combustion powertrain jobs. The UAW has not endorsed his re-election.

Biden’s likely opponent, former president Donald Trump, on Friday criticised the shift to EVs as a job-killer for the UAW.

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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Maheesh Theekshana to miss India vs Sri Lanka Asia Cup final, Axar Patel’s participation under a cloud too

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

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Summary

Maheesh Theekshana strained his right hamstring during Sri Lanka’s Super Fours clash against Pakistan. Axar Patel suffered multiple injuries in the middle of the India vs Bangladesh Super Fours’ match on Friday. While Sahan Arachchige has been named as Theekshana’s replacement in the Sri Lankan squad, Washinton Sundar is being rushed to the Sri Lankan capital to join the Indian team before the final.

Sri Lanka’s ace spinner Maheesh Theekshana is set to miss the Sunday’s Asia Cup final against India owing to an injury, Cricket Sri Lanka confirmed on Sunday.

Theekshana strained his right hamstring during the Super Fours clash against Pakistan. The Sri Lankan cricket board said that the spinner will the country’s high performance center to commence rehabilitation work.

Theekshana will be replaced by 27-year-old top-order batsman Sahan Arachchige.

Theekshana missing the final will be a big blow for the Dasun Shanaka-led side as the off-spinner has been in sublime form in the tournament. The 23-year-old bowler is the team’s frontline spinner and claimed 8 wickets his last five outings. 

Axar Patel to miss the final too

Injury will also affect team India’s composition for the final too. Ahead of the big-ticket final, team’s all-rounder Axar Patel has suffered a niggle according to a report published by Cricbuzz.  Patel suffered the injury during India’s final Super Fours’ match against Bangladesh on Friday.

With Patel poised to sit out of the final, all-rounder Washington Sundar is being rushed to the Sri Lankan capital as a backup. Sundar was stationed in Bengaluru as he was expected to fly to Hangzhou, China, to participate in the Asian Games. Now Sundar will join India’s Asian Games squad after the final.

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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Cricket is giving the ultimate boost to tourism industry in India

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

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Summary

With cricket fans continuing to book flights and hotels ahead of the ICC Men’s Cricket World Cup 2023, CNBCTV18.com spoke to tourism industry experts to understand how the sector is getting a boost from cricket

It is rightly said that cricket is a religion in India. And when it comes celebrating the biggest festival of the religion, in this case the ICC Men’s Cricket World Cup 2023, money would never be a barrier. For one, we all know how air ticket prices and hotel bookings soared for Ahmedabad, once the schedule of the World Cup was announced, but interestingly, it is the overall tourism industry that is reaping benefits from the World Cup, which commences from October 5, 2023 at the Narendra Modi Stadium in Ahmedabad, Gujarat.

India is set to welcome a massive influx of tourists as it hosts the highly anticipated mega event. Nonetheless, the cricketing spectacle is proving to be a major game-changer for India’s tourism industry, offering visitors a unique blend of sporting excitement and cultural exploration.

The World Cup fever has begun to grip the country with reports suggesting that match ticket prices are skyrocketing in the black market. As cricket fans continue to book flights, hotels, and match tickets, Daniel D’Souza, President and Country Head for Holidays, SOTC Travel told CNBCTV18.com, “India has always been a cricket loving nation and despite increased airfares and hotel rates, we are witnessing over 100 percent surge in demand for travel among cricket enthusiasts across segments for the upcoming October-November period.”

Also read: 10 sights every cricket fan must see in India during the 2023 World Cup

Rajeev Kale, President and Country Head, Holidays, MICE, Visa – Thomas Cook (India) Limited told CNBCTV18.com, “What is noteworthy is the strong continuum in demand beyond the traditional peak summer season – with a strong uptick during the festive season driven by the cricket bonanza that has put the spotlight on domestic destinations.”

“We have witnessed an 80-100 percent surge in demand for the months of October-November compared to last year and this is not just from our leisure segment of cricket aficionados, but corporate MICE. To catalyse demand, we have created unique hub and spoke programs – offering popular locales and experiences in and around match destinations. India is a cricket-crazy nation, and our data reflects high demand across segments of multigenerational families, millennials, Gen Z and couples and corporates.”

Also read: Book air tickets now for travel post Diwali as prices already through the roof

He added, “Despite the 4x surge in tariffs for hotels compared to the current rates, our trends reveal strong appetite especially for the final and semifinals at Ahmedabad, Mumbai, Kolkata; followed by Delhi, Bengaluru, Chennai, Dharamshala, Hyderabad, Lucknow and Pune.”

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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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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Delhi weather update: Showers at some places, minimum temperature 26.9 degree celsius

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

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Summary

The maximum temperature is likely to settle at 35 degrees Celsius. Delhi’s Air Quality Index (AQI) stood at 84 around 11 am.

The national capital received showers at some places Saturday morning to much relief of its residents who were troubled by a stifling heat for the past few days. According to the India Meteorological Department (IMD), the minimum temperature in the city on Saturday settled at 26.9 degrees Celsius, two notches above the season’s average, Delhi recorded 0.6 mm of rain in the last 24 hours till 8.30 am.

The relative humidity was recorded at 85 per cent at 8.30 am.

The IMD has predicted generally cloudy skies with light rain during the day.

The maximum temperature is likely to settle at 35 degrees Celsius. Delhi’s Air Quality Index (AQI) stood at 84 around 11 am.

An AQI between zero and 50 is considered ’good’, 51 and 100 ’satisfactory’, 101 and 200 ’moderate’, 201 and 300 ’poor’, 301 and 400 ’very poor’, and 401 and 500 ’severe’.

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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Metaverse holds potential for transforming the eCommerce landscape: VOSMOS

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

 Listen to the Article (6 Minutes)

Summary

Metaverse is making its impact felt in India’s diverse sectors, from entertainment, gaming to education and automotive.

The global pandemic brought about a seismic shift, propelling the virtual world into the spotlight and redefining the balance between physical and virtual spaces. This virtual landscape has emerged as a tool that is reshaping the future of the business ecosystem.

By harnessing the power of virtual reality, companies can unlock new possibilities and pave the way for a more innovative and connected future. Hence, concepts like the metaverse and virtual events are emerging, according to VOSMOS, a tech start-up focused on the metaverse and virtual experiences.

These platforms provide opportunities for brands to connect with their community of customers and engage them through immersive virtual experiences. This not only improves efficiency but also fosters creativity and innovation within organizations. The metaverse is expected to experience significant growth, with a CAGR of 34.98 percent and reaching a total market size of $485.8 billion by 2030 as per a report by Statista, Vosmos said.

Metaverse is making its impact felt in India’s diverse sectors, from entertainment, gaming to education and automotive. In the retail sector, virtual stores have emerged as a tool to provide immersive product showcases and collect valuable customer data. This technology bridges the gap between physical retail and e-commerce, providing a unique and convenient shopping experience.

“For instance, Gucci’s 100th anniversary was marked by the launch of a virtual exhibition showcasing art installations through Roblox, entitled “Gucci Garden. Using augmented reality, IKEA showcases how its storage solutions can make clutter-free living a reality. The Swedish retailer has partnered with Snapchat to launch an augmented reality ‘escape room’. Point your camera at a blank space and a messy 3D room will pop up. To get rid of the clutter, simply drag and drop one of the IKEA items into the room to visualise a room of your dream, ” Piyush Gupta, the CEO of VOSMOS said.

Gupta is quite optimistic about the diverse prospects that Metaverse offers across industries. He highlights the immense potential it holds for transforming the e-commerce landscape.

He said, “Sustainability in the e-commerce industry is a big issue. Metaverse will lead to a more informed buying decision, which will, in turn, reduce the return ratio.”

Simultaneously, virtual events have their own advantages over offline events: greater accessibility, as participants can join from anywhere in the world, reduced travel expenses, elimination of geographical barriers, cost-effective and environment friendly. Sectors like IT, manufacturing and Automotive are implementing it already. Virtual fairs and conferences are now in full swing, allowing participants with virtual avatars to meet, converse, play games, or collaborate on projects. With the capacity to converse and communicate, there are numerous intelligent features that each technology company is introducing as a distinct feature to their virtual spaces.

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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PM Modi to inaugurate housing project for economically weak sections in Solapur next month

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

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Summary

The project at Raynagar in Solapur is spread over 100 acres and comprises 30,000 homes, of which 15,000 have already been built, Maharashtra’s additional chief secretary Valsa Nair Singh said.

Prime Minister Narendra Modi will be inaugurating the largest housing project for economically weaker sections at Solapur, in Maharashtra, next month, a senior government official said on Friday.

The project at Raynagar in Solapur is spread over 100 acres and comprises 30,000 homes, of which 15,000 have already been built, Maharashtra’s additional chief secretary Valsa Nair Singh said.

”The biggest economically weaker section housing scheme is now in the final stages of being built at a place called Raynagar in Solapur. PM Modi is coming next month to inaugurate it,” the bureaucrat said, addressing a summit organised by industry lobby Naredco.

Every house is 300 sq ft and will be costing Rs 6 lakh for the beneficiaries, she said, adding that to be eligible, a family has to have an earning of less than Rs 3 lakh per year.

The Maharashtra Housing and Area Development Authority (Mhada) is executing the project, which also has assistance from the central government’s PMAY.

According to officials, it is a set of seven housing societies and the beneficiaries include unorganised workers, textile workers, beedi workers, construction workers, ragpickers and garment workers.

Meanwhile, Nair said a Memorandum of Understanding (MoU) to kick-start the multi-thousand crore Dharavi redevelopment project will be signed very soon.

She said the agreement will pave the way for similar projects to be carried out across the state, where a cluster gets developed.

The state government is working on a cluster-based development, and every project will entail signing of cluster and development agreement, she said.

of the year, we will be ”talking about” at least ten such cluster projects, Singh said, adding that a similar approach is being taken for the redevelopment of Kamathipura, the financial capital’s red light district.

The new policy will push on affordable housing, push for ”walking to work”, bettering work-life balance, make home smarter and having the best of technology inputs, she said.

It will also incentivise homes for specific categories like ones for senior citizens and students, Singh said, stressing that the country is set to age going forward and the senior citizens have to be treated with respect and dignity.

The policy, a draft of which will be posted in public domain, will also seek to address the issue of skilled manpower, she said.

Speaking at the same event, Pravin Darade, the principal secretary for environment, said the government is working to create an action plan for climate change and has a set of 20 interns who are dealing with multiple government departments as part of the formulation.

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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Indian Railways to introduce Vande Bharat sleeper coaches, Vande Metro trains soon; Check details

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

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Summary

Indian Railways will soon be launching the inaugural edition of Vande Bharat sleeper trains. The launch of this train is planned to take place by the end of October, according to reports.

Indian Railways is going to launch the Vande Bharat sleeper trains soon. The introduction of sleeper coach trains will enable passengers to undertake extensive overnight journeys aboard these high-speed trains.

BG Mallya, the General Manager of Integral Coach Factory (ICF), Chennai, recently shared details of these upcoming developments with the news agency ANI. He stated, “We will be launching the sleeper version of Vande Bharat within this financial year.”

He also mentioned that Indian Railways will introduce a train for passengers who prefer non-air-conditioned travel. This train will consist of 22 non-AC sleeper coaches with a locomotive at both ends. The launch of this train is planned to take place before the end of October.

The sleeper version of Vande Bharat Express is expected to consist of 16 coaches, offering 11 AC three-tier coaches, 4 AC two-tier coaches, and 1 first AC coach. Mallya said that these trains would be “cost-effective,” making high-speed rail travel more accessible to a broader range of passengers for long-distance journeys.

 


In addition to the sleeper trains, ICF is also working on the Vande Metro, a 12-coach train designed for short-distance travel, according to reports. This train is scheduled for release in January or February of 2024.

According to an Economic Times report, the production of these sleeper trains is a joint venture between India’s Rail Vikas Nigam Limited (RVNL) and Russia’s TMH Group, which secured the contract to supply 120 out of the 200 new Vande Bharat sleeper trains due to their lowest bid. The remaining 80 trains will be manufactured by a consortium consisting of Titagarh Wagons and BHEL.

These new sleeper trains are seen as a viable alternative to the Rajdhani Express trains, providing passengers with more options for comfortable overnight travel.

The Vande Bharat Express, India’s semi-high-speed train, has already made significant strides in transforming rail travel across the country. With 50 operational services, it has improved passenger experiences by offering state-of-the-art amenities and reduced travel time.

The journey of the Vande Bharat Express began on February 15, 2019, when it was inaugurated by Prime Minister Narendra Modi, connecting New Delhi and Varanasi. This train, manufactured at the ICF in Chennai, embodies the Make-In-India initiative.

The project to produce an indigenous semi-high-speed train commenced in mid-2017, with the ICF Chennai completing Train-18 within 18 months. Renamed Vande Bharat Express in January 2019, this train touched a maximum speed of 180 kmph on the Kota-Sawai Madhopur section.

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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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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Green funding: SBI plans to bundle home loans with rooftop solar installations

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

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Summary

The SBI, which has a home loan book of over Rs 6.3 lakh crore as of June, has outstanding forex loans of $2.3 billion from multilateral lenders, including the World Bank, the Asian Development Bank, and KfW of Germany.

The country’s largest lender SBI plans to bundle and make home loans with rooftop solar installations mandatory for residential projects funded from the bank’s long term climate action funds drawn down from multilateral agencies.

The SBI, which has a home loan book of over Rs 6.3 lakh crore as of June, has outstanding forex loans of $2.3 billion from multilateral lenders, including the World Bank, the Asian Development Bank, and KfW of Germany.

”We are planning to make it mandatory for builders to make rooftop solar installations if the project is funded from our green funds,” Ashwini Kumar Tewari, Managing Director, Risk, Compliance and Stressed Assets at SBI, said.

”We are, in fact, planning to make it a bundled deal for home loan applicants going forward,” Tewari told reporters here on Thursday on the sidelines of the final day of the global SME summit organised by Sidbi.

These loans come with 10-year or 20-year tenors leading to forex risks for the borrowing banks.

Given the risks involved in long-term forex loans, Tewari urged multilateral lenders to allow borrowing banks to hedge their exposures so that green and financial inclusion funding can be more sustainable.

Tewari also said the bank is increasing its exposure to green initiatives, including funding green buildings, battery recycling, solar rooftops plans among others.

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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Hartalika Teej: Simple recipes to prepare at home when you observe a fast

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

 Listen to the Article (6 Minutes)

Summary

One of the three main Teej festivals, Hartalika Teej will be celebrated on September 18. It is usually observed a day before Ganesh Chaturthi.

One of the three main Teej festivals, Hartalika Teej is just around the corner it will be observed on Monday, September 18. The festival, which usually falls a day before Ganesh Chaturthi, is observed mainly by Hindu married women in states like Uttar Pradesh, Rajasthan, Haryana, Jharkhand and Madhya Pradesh.

On this day, both married and unmarried girls observe a day-long ritualistic fast and worship Goddess Parvati and Lord Shiva. At the end of the day, women break their fast with a light vegetarian meal. A variety of traditional delicacies and sweets are prepared on this day for the fasting women and other guests.

Hartalika Teej: Date and Timing

Hartalika Teej is celebrated on the Tritiya Tithi of Shukla Paksha in the month of Bhadrapada, as per the Hindu calendar. This year the festival will be celebrated on September 18. Here are the timings for Puja rituals:

– Pratahkala Hartalika Puja Muhurat begins at 06:26 a.m.

– Pratahkala Hartalika Puja Muhurat ends at 08:53 a.m.

– Tritiya Tithi begins at 11:08 a.m. on September 17, 2023

– Tritiya Tithi ends at 12:39 p.m. on September 18, 2023

Fasting dishes to prepare on Hartalika Teej

  1. Moong Dal Samosa: For preparing something spicy and light for evening snacks, what could be more ideal than samosas made with moong dal? It is not only delicious but also filled with much-needed energy and proteins after a long period of fasting.
  2. Poori Sabzi: A quintessential meal usually prepared on festive days is fried poori along with delicious aloo sabzi. It is very easy to prepare and can be also made without onion or garlic.
  3. Nariyal Laddoo: Sweets are often prepared on all festive days and Nariyal Laddoos are the easiest to prepare at home. One such easy and tasty sweet is prepared with coconut, khoya, condensed milk, and sugar. Coconut laddoos are light and tasty.
  4. Ghevar: Another popular sweet that can be prepared on Teej is Ghevar. This creamy and crunchy sweet prepared with pure ghee is topped with dry fruits.
  5. Sabudana Kheer: Those who keep a fast can opt for a plate of sabudana kheer instead of rice kheer. It can be prepared with soaked sabudana, milk, ghee, sugar and dry fruits.

 

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

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Should Elon Musk be able to buy Twitter?