PM Modi tells Russian President Putin ‘now is not an era of war’

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

Listen to the Article (6 Minutes)

Prime Minister Narendra Modi on Friday told Russian President Vladimir Putin that now is not a time for war, with food, fertiliser and fuel security among the major concerns of the world at present.

“I know that today’s era is not an era of war, and I have spoken to you on the phone about this,” Modi told Putin on the sidelines of the SCO summit in Uzbekistan, adding that democracy, diplomacy and dialogue keep the world together.

Putin said that he understood Modi’s concerns about the Ukraine war. “I know about your position on the conflict in Ukraine, and I know about your concerns. We want all of this to end as soon as possible,” he said.

Putin, who met Chinese President Xi Jinping at the summit, acknowledged on Wednesday Beijing’s concerns about the war.

Modi and Putin spoke on the sidelines of the Shanghai Cooperation Organisation (SCO) meeting, whose members include India, China, Russia, Pakistan, Kazakhstan, Kyrgyzstan, Tajikistan and Uzbekistan.

“Our trade is growing, thanks to your additional supplies of Russian fertilisers to the Indian markets, which have grown more than eight-fold. I am hopeful that this is going to be of huge help of the agricultural sector of India,” Putin said.

Also Read: SCO Summit: For PM Modi, energy security tops agenda, not meetings with Xi or Sharif

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

3 Mins Read

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

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

Narendra Modi turns 72: Lesser-known facts about our prime minister

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

Listen to the Article (6 Minutes)

Prime Minister Narendra Modi will be celebrating his 72nd birthday on September 17. He is expected to have a busy birthday as a series of events have been lined up. One is the release of eight cheetahs brought from Namibia to Kuno National Park, Madhya Pradesh. This move has come as part of PM Modi’s efforts to revitalise and diversify the country’s wildlife and habitat.

To mark Prime Minister Narendra Modi’s 72nd birthday, we bring you some lesser-known facts:

1. PM Modi used to sell tea with his father at Vadnagar railway station.

Also Read | 1,200 gifts of PM Modi to be auctioned on his birthday, proceeds to go to Namami Gange Programme

2. He disguised as a Sikh to escape arrest during the Emergency

During the Emergency imposed by Indira Gandhi, PM Modi disguised himself as a Sikh to evade arrest. He used to disguise and provide information to leaders who were imprisoned by the government.

3. Modi is the second most followed political leader on Twitter.

Also Read | Here’s how BJP plans to celebrate PM Modi’s birthday while organising social programmes

4.  He is the first Prime Minister to be born in Independent India.

5. PM Modi, before contesting in the General Elections, was also the longest-serving chief minister of Gujarat.

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

3 Mins Read

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

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

Who is Yvon Chouinard, the billionaire who donated his entire company to fight climate change?

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

Listen to the Article (6 Minutes)

Billionaires like MacKenzie Scott, Bill Gates, Warren Buffett, Charles Feeney, George Soros and Michael Bloomberg are known to be some of the biggest philanthropists in modern times. But Yvon Chouinard, the billionaire founder of the American outdoor apparel brand Patagonia, has joined the list by pledging his entire company to fight climate change.

Chouinard has transferred the ownership of the company, which earns nearly $100 million in profits according to an NYT report, to a specially-designed trust and a non-government organisation (NGO). The trust and NGO will use the proceeds to fight climate change.

“Earth is now our only shareholder,” wrote Chouinard in a letter. “If we have any hope of a thriving planet — much less a business — it is going to take all of us doing what we can with the resources we have. This is what we can do.”

Also read: A capitalist monk? Why this 30-year-old crypto billionaire wants to give it all away

The 83-year-old’s decision may be surprising in the way it’s playing out but for anyone who knows about Patagonia and Chouinard, the question always was ‘how’ and ‘when,’ not ‘if.’

Chouinard made a name for himself in the 1960s as a rock climber, making ascents across mountain ranges in North America. Chouinard’s father was a handyman, mechanic and plumber. With his passion for rock climbing, Chouinard decided to learn blacksmithing to make his own tools and later turned it into a small business, Chouinard Equipment.

In 1973, Chouinard established Patagonia as an apparel maker that could provide rugged clothing for outdoor hobbies like rock climbing. Chouinard had already made a name for himself in rock climbing with his tools company, and Patagonia quickly expanded to other outdoor sports like surfing.

Also read: Gautam Adani beats Jeff Bezos to become world’s 2nd richest person: Forbes

While climate pledges and corporate responsibility are concepts that most companies are only discovering recently, Chouinard’s passion for the environment meant that both his companies always had the environment as their first priority.

“I never wanted to be a businessman,” said Chouinard in his open letter. “As we began to witness the extent of global warming and ecological destruction, and our own contribution to it, Patagonia committed to using our company to change the way business was done.”

Chouinard’s idea was to lead by example. “If we could do the right thing while making enough to pay the bills, we could influence customers and other businesses, and maybe change the system along the way,” he added.

Also read: Azim Premji birthday: Interesting facts about India’s biggest philanthropist

The idea of being a billionaire always rubbed Chouinard the wrong way. “I was in Forbes magazine listed as a billionaire, which really, really pissed me off. I don’t have $1bn in the bank. I don’t drive Lexuses,” the self-proclaimed craftsman told the NYT.

For decades, Chouinard demonstrated that having a successful business doesn’t need to come at the expense of the environment or one’s morals. With his decision to give away his fortune, the mountain-climber-craftsman-environmentalist-philanthropist-businessman highlights that his convictions matter more to him than money.

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

3 Mins Read

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

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

Justin Bieber cancels Delhi concert due to ill health

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

Listen to the Article (6 Minutes)

Singer pop-star Justin Bieber, who was supposed to perform in New Delhi in October, has cancelled his upcoming concert due to health issues, the organisers of the mega concert said on Thursday.

“We are extremely disappointed to share that the ‘Justin Bieber Justice World Tour – India’ scheduled for October 18th, 2022, at Jawaharlal Nehru Stadium, New Delhi has been cancelled owing to the singer’s health condition,” BookMyShow, which sold the tickets for the show, said in a Twitter announcement.

🚨 Justice World Tour – India, Important Update 🚨
.
.
.#JusticeWorldTourIndia #JusticeWorldTourIndiaUpdate pic.twitter.com/I3MmNgSfxe

— BookMyShow (@bookmyshow) September 15, 2022

Along with his concert in New Delhi, the pop star has also cancelled shows in Chile, Argentina, Brazil, South Africa, Bahrain, UAE and Israel.

This would have been Bieber’s second visit to India, following his performance in 2017 in Mumbai as part of his Purpose World Tour.

Also read: Netflix Tudum 2022 global fan event: All you need to know

BookMyShow said it had initiated complete refund of the ticket amount to people who had booked for the show. The refund would be reflected within 10 working days in the customer’s account, the company said.

In June, the 28-year-old singer revealed to the world that he was diagnosed with the Ramsay Hunt Syndrome, an uncommon neurological disorder, which caused partial paralysis to his face. Following the announcement, the singer said he would take a break from performing on stage.

In July, the “Never Say Never” singer said he would resume his “Justice World Tour” from July-end after a hiatus for a month.

However, last week the Canadian singer bowed out of future tour dates to focus on his health. Bieber had as many as 70 shows running until March 2023 in Asia, South America, Australia, New Zealand, and Europe. It is not clear when the pop star will resume performing again.

Also read: Ajay Devgn opens new multiplex of his venture NY Cinemas in Ahmedabad

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

3 Mins Read

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

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

Netflix Tudum 2022 global fan event: All you need to know

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

Listen to the Article (6 Minutes)

Netflix has announced the dates for its global fan event Tudum. The streaming service will host the virtual global fan fest with five different events on the same day from Korea, India, Japan, Latin America, the US and Europe.

The India event will start at 11 am on September 23. Netflix fans will be able to get a look at what’s ahead for India in terms of releases and productions. One of the more anticipated Netflix releases is the English spy-thriller ‘Heart of Stone’, which stars Jamie Dornan of ‘Fifty Shades’ fame and Alia Bhatt.

“TUDUM is back! It’s got your favourite shows! The coolest movies! The biggest stars! Don’t miss all five shows in this global fan event,” the company said in a tweet. The teaser for the event features actors like Millie Bobby Brown, Chris Hemsworth, Gal Gadot, Alia Bhatt, Rajkummar Rao, Henry Cavill, and others.

#TUDUM is back!

It’s got your favorite shows! The coolest movies! The biggest stars! Don’t miss all five shows in this global fan event. Set your YouTube Reminder now for September 24 at 10 am PT https://t.co/6Wj9nZNDps pic.twitter.com/Ds7K1qlhYU

— Netflix (@netflix) September 14, 2022

“The free virtual event is a celebration of Netflix fandom and is dedicated to sharing the scoop on over 120 fan-favorite shows, films, specials and games from across the globe,” Netflix said.

Also Read | Netflix’s password-sharing problem could see an end as Adobe says it has a solution

The event will share exclusive news, never-before-seen footage, new trailers and first looks for upcoming shows, new seasons of Netflix shows, and movies. The company has built a dedicated microsite for the event where fans can go to catch all the highlights that they may have missed.

Some of the movies and shows that will be featured at the event include the 3 Body Problem, Bridgerton, Emily In Paris, Money Heist: Korea – Joint Economic Area, Nayanthara: Beyond The Fairtytale, Squid Game, Stranger Things, The Crown, The Witcher, Chor Nikal Ke Bhaga, Enola Holmes 2, Extraction 2, Heart Of Stone, Khufiya and many more.

Also Read | These OTT releases will keep you entertained this September: Check details

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

3 Mins Read

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

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

Patanjali Foods plans to go big on plantations to cut edible oil imports

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

Listen to the Article (6 Minutes)

Yoga guru Baba Ramdev said at a press conference in Delhi that his Patanjali group is working on oil plantations in 11 states, with big focus areas being the North East, Andhra, Telangana and Karnataka.

He also announced the initial public offering (IPO) plans for four Patanjali group companies over the next five years.

“There is a strong array of companies which are there. We are doing our own work, they are doing their own work. The market is growing overall, so there is a lot of space and room for growth for all the companies. We will be very supportive of everyone’s efforts but we will continue growing ourselves quite aggressively,” Sanjeev Asthana, CEO of Patanjali Foods, told CNBC-TV18.

While addressing the conference, Ramdev also mentioned that as part of the Vision 2027 for Patanjali Group, the brand has aggressive plans for oilseeds, which involves setting up multiple nurseries and oil processing units.

Also read: Patanjali IPO: A look at India’s fastest growing FMCG brand’s journey

Patanjali is also looking to set up seed gardens and make big investments in the palm oil business.

“To become self-reliant in palm oil, Patanjali group has announced plans to plant palm trees on more than 15 lakh acres of land. These trees will be planted in 55 districts of 11 states,” said Ramdev.

In 5-7 years, the aim is to earn an annual return of Rs 2,000 crore. In addition, the income will keep flowing for 40 years after the palm trees are planted.

Also read:Patanjali group to have 4 IPOs in the next 5 years announces Baba Ramdev

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

3 Mins Read

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

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

SBI MF launches FMP Series 68 — key things to know about fixed maturity plans

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

Listen to the Article (6 Minutes)

The State Bank of India Mutual Fund (SBI MF) has launched its Fixed Maturity Plan (FMP) Series 68. The tenure has been fixed at 1,302 days, i.e. the scheme will mature in April 2026. The issue will end on September 21, 2022.

What are the benefits of investing in FMP?

Minimal interest rate risk

FMPs are least exposed to interest rate risk because the fund manager will normally hold the instruments till their maturity. Also, FMPs generally invest in securities with higher credit quality so that credit and liquidity risks are minimised, according to SBI MF.

Low cost

As the investments are made in line with the maturity of the fund, there is no buying or selling of securities in the scheme. This reduces the costs of the scheme.

Taxation benefit

FMPs enjoys benefit of indexation if the maturity period is over three years while calculating tax out of return earned.

What are the associated risks?

If the profile of the scheme portfolio is poor, there is a chance of default in some securities. This could potentially hamper returns. They are also exposed to ‘reinvestment risk’ — that is, the risk that the fund manager faces to reinvest maturity proceeds at lower than earlier rate.

That being said, one should not blindly invest in any scheme based on any indicative yield, say experts.

ALSO READ | 4 ways to invest in digital gold this festive season

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

3 Mins Read

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

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

Massive fire engulfs 42-storey skyscraper in China; no deaths reported

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

Listen to the Article (6 Minutes)

A massive fire erupted on Friday from a 42-story skyscraper in central China belonging to the country’s largest telecoms provider, but no injuries were recorded, officials said.

❗️In #China, the skyscraper of the largest telecom operator China Telecom in #Changsha is on fire. Hundreds of people could be burned alive. pic.twitter.com/GDNC74k8Tj

— NEXTA (@nexta_tv) September 16, 2022

Several levels of the China Telecom building in Changsha, the capital of central Hunan province, were destroyed by fire. According to the city’s fire service, 280 firemen were dispatched and were able to immediately extinguish the blaze on the 218-metre (720-foot) skyscraper.

Footage from inside the burning #ChinaTelecom skyscraper in #Changsha pic.twitter.com/P6ZOLiwgYT

— NEXTA (@nexta_tv) September 16, 2022

According to China Telecom, no injuries or deaths have been reported. It claimed that cellphone service was not disrupted, although social media users reported being unable to use their phones.

Videos of the fire showed one side of the building charred black and rubble falling to the ground. Other recordings from local media showed staff inside successfully evacuating the facility.

WATCH: High-rise engulfed in flames in Changsha, China; no victims reported so far according to state media pic.twitter.com/8EJS8f6aVa

— BNO News (@BNONews) September 16, 2022

There was no immediate information on the cause of the blaze.

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

3 Mins Read

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

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

Adani completes acquisition of Ambuja Cements and ACC

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

Listen to the Article (6 Minutes)

The Adani family on Friday said it has completed the acquisition of Ambuja Cements & ACC Ltd and has become country’s second largest cement player. Adani family, through their special purpose vehicle Endeavour Trade and Investment Ltd, completed the acquisition after completing the transaction with Swiss firm Holcim and an open offer, said a statement.

“The transaction involved the acquisition of Holcim’s stake in Ambuja and ACC along with an open offer in both entities as per SEBI Regulations,” it said. The value of the Holcim stake and open offer consideration for Ambuja Cements and ACC is USD 6.50 billion, which makes this the largest ever acquisition by Adani, and also India’s largest ever M&A transaction in the infrastructure and materials space, it added.

Post the transaction, Adani will hold 63.15 percent stake in Ambuja Cements and 56.69 percent in ACC (of which 50.05 percent is held through Ambuja Cements). Gautam Adani said, “What makes cement an exciting business is the headroom for growth in India, which exceeds that of every other country well beyond 2050.” In May this year, the Adani Group announced that it has clinched a deal to acquire a controlling stake in Holcim Ltd’s businesses in India.

Currently, Ambuja Cements and ACC have a combined installed production capacity of 67.5 MTPA. The two companies are among the strongest brands in India with immense depth of manufacturing and supply chain infrastructure, represented by their 14 integrated units, 16 grinding units, 79 ready-mix concrete plants and over 78,000 channel partners across India.

“The Board of Ambuja Cements approved an infusion of Rs 20,000 crore into Ambuja by way of preferential allotment of warrants. This will equip Ambuja to capture the growth in the market,” it said. Aditya Birla group firm UltraTech leads the cement sector with an installed capacity over 100 MTPA.

Also Read: Gautam Adani’s elder son to oversee newly acquired cement units

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

3 Mins Read

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

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