अमेरिका हमें न बताए कहां से तेल खरीदना है, भारत खुद फैसला करेगा: ओवैसी

एआईएमआईएम के अध्यक्ष असदुद्दीन ओवैसी ने ईरान से भारत को तेल आयात खत्म करने के लिए करने के ट्रंप प्रशासन के फरमान पर अमेरिका को आड़े हाथों लिया है। 

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कैराना विधायक ने गैंगरेप पीड़िता के परिवार को दी धमकी, ऑडियो वायरल

गैंगरेप पीड़िता के परिजनों ने समाजवादी पार्टी के कैराना विधायक नाहिद हसन पर अंजाम भुगतने की धमकी देने का आरोप लगाया है। जानिए क्या है मामला...

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बिहार: सुशील मोदी ने लालू परिवार पर लगाया जमीन हड़पने का आरोप

बिहार के उपमुख्यमंत्री व भाजपा के वरिष्ठ नेता सुशील कुमार मोदी ने एक बार फिर लालू प्रसाद यादव के परिवार पर बड़ा आरोप लगाया है।

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As trade war erupts, China rethinks its world domination dream

By Keith BradsherChina has spent nearly five years steering an ever-growing stream of hundreds of billions of dollars to a bold plan to gain greater global influence by funding big projects across Asia, Eastern Europe and Africa.Now, Beijing is starting to tap the brakes.The value of the deals that Chinese companies are striking under the country’s big global plan — called the Belt and Road Initiative — is smaller than a year ago, according to new data. Chinese officials themselves are sounding a cautious note, voicing worries that Chinese institutions need to be careful how much they lend under the program — and make sure their international borrowers can pay it back.“Current international conditions are very uncertain, with lots of economic risks and large fluctuations for interest rates in newly emerged markets,” said Hu Xiaolian, the chairwoman of the Export-Import Bank of China, a state-controlled lender that plays a big role in financing the projects, at a forum this month in Shanghai. “Our enterprises and Belt and Road Initiative countries will face financing difficulties.”China has begun a broad, interagency review of how many deals have already been done, on what financial terms and with which countries, say people close to Chinese economic policymaking, who asked to speak on the condition of anonymity because the effort has not been made public.American and European officials have long worried that Belt and Road represents a diplomatic and economic power grab by Beijing, fueled by its vast government wealth and helped by the Communist Party’s laserlike focus on achieving long-term goals.Under the initiative, Chinese government-controlled lenders offer big chunks of money — usually through loans or financial guarantees — to other countries to build big infrastructure projects like highways, rail lines and power plants. That money often comes with the requirement that Chinese companies be heavily involved in the planning and construction, throwing them a lot of business.But even with its financial firepower, China has its limits. Its economy is showing signs of slowing, and it is in the middle of a trade war with the United States. Beijing is struggling to tame domestic debt problems — problems an international lending spree certainly hasn’t helped.Too much overseas activity risks creating wasteful white elephants that can drag down Chinese companies and local partners alike. All types of deals are now angling to be associated with the Belt and Road Initiative like a theme park in Indonesia and brewery in the Czech Republic.Further, profligate lending can worsen relations with other countries rather than help them. New governments in places like Malaysia and Sri Lanka have questioned why their predecessors borrowed so much from Beijing.This year, some Chinese officials have expressed some concerns about lending under the program.“Ensuring debt sustainability — that is very important,” Yi Gang, the new governor of China’s central bank, said at a conference in Beijing in late April.While Belt and Road activity remains huge, it has certainly become more restrained, according to official data. In the first five months of 2018, Chinese companies signed contracts worth $36.2 billion in business, down nearly 6 percent from the same period a year ago.Deal signings were down at this time last year from 2016, too, though by a lesser magnitude. Much of that downturn stemmed from big companies and governments’ saving their powder for a major Belt and Road forum held in May 2017 in Beijing that was attended by Xi Jinping, China’s top leader, President Vladimir Putin of Russia and other major political figures. After the forum, activity surged.“I sensed that the level of enthusiasm about BRI had certainly shifted down a few notches relative to last year,” said Eswar Prasad, a Cornell economist and former head of the International Monetary Fund’s China division who recently visited Beijing and had extensive conversations with Chinese financial policymakers.Project activity could pick up later this year, of course. But an uncertain global economic outlook has given Beijing even more reasons to be cautious.A protracted trade war between the United States and other countries, particularly China, could shake confidence and stunt growth. The United States has pushed up short-term interest rates, making it more costly to borrow money. In the past, interest rate increases in the United States have sometimes caused financial turbulence elsewhere, especially in emerging markets.Belt and Road lending seemed a sure thing when the effort began under Xi in 2013. Loans would be long-term, giving borrowers time to pay them back. China also tends to extend loans mainly to countries with significant natural resources. If a resource-rich developing country had trouble repaying its loans, it could offer goods like oil, iron ore or even food instead.But part of the problem now is that no one — not even the Chinese government — has a comprehensive picture of the lending so far. The Finance Ministry and the state-controlled banking system have poured money into projects from the Czech Republic to Laos, and from South Africa to Kazakhstan. The China Banking and Insurance Regulatory Commission estimated this spring that Chinese banks had lent $200 billion for 2,600 projects.Various government agencies have also issued extensive export guarantees, loan guarantees and other financial arrangements as part of the initiative, although some of these overlap with the bank loans.A Belt and Road slowdown may also be natural. Official data show Chinese companies are completing projects at nearly the same pace as they are signing deals for new ones, suggesting the initiative may simply be settling into a sustainable rhythm.“They are still very actively promoting Belt and Road,” said Andrew Mackenzie, the chief executive of BHP Billiton, an Australian mining giant that is among the biggest exporters of iron ore to Chinese steel mills, which are among the intended beneficiaries of Belt and Road.Still, some Chinese officials are looking more closely at where the money is ending up.For example, they have been reassessing the country’s financial exposure in Africa, a continent with immense natural resources that has lured a wide range of Chinese energy and construction companies, people close to Chinese policymaking said.Belt and Road has been viewed with increasing skepticism by multilateral institutions as well. They have warned that developing countries should not incur excessive debts.“The first priority,” Christine Lagarde, the managing director of the International Monetary Fund, said at the Beijing conference in April, “is that Belt and Road only travels to where it is really needed.”

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Sriram takes charge as MD and CEO of IDBI Bank

B Sriram today assumed charge as Managing Director and CEO of IDBI Bank. Sriram was appointed MD and CEO in place of Mahesh Kumar Jain who recently took charge as deputy governor of the Reserve Bank of India (RBI). "The Government of India on June 29, 2018 appointed him as Managing Director & Chief Executive Officer of IDBI Bank Ltd. for period of three months with effect from the date of assumption of office, or up to September,2018 , or until further orders, whichever is earlier," IDBI bank said in a statement. Sriram has been working as the MD (Corporate and Global Banking) in SBI since July 2014. Born on September 20, 1958, Sriram had joined State Bank of India as a Probationary Officer in 1981. He is a Post Graduate in Physics from St. Stephen's College, New Delhi and has a Diploma in Management from AIMA. The board of Insurance Regulatory and Development Authority of India (Irdai) yesterday permitted Life Insurance Corporation (LIC) to increase the current stake from 10.82 per cent to 51 per cent in IDBI Bank.

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महंगा हुआ रसोई में खाना पकाना, एलपीजी के दामों में 55 रुपये की बढ़ोतरी

तेल कंपनियों ने लगातार दूसरे महीने एलपीजी सिलेंडर के दामों में बढ़ोतरी कर दी है। अब बिना सब्सिडी वाला सिलेंडर 55 रुपये महंगा हो गया है। बढ़ी हुई नई कीमतें 1 जुलाई से पूरे देश में लागू हो जाएंगी।

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उत्तराखंड: सीएम जनता दरबार केस में शिक्षा मंत्री ने की उत्तरा से बात, हर संभव मदद का दिया आश्वासन

मुख्यमंत्री त्रिवेंद्र रावत के जनता मिलन कार्यक्रम में हंगामा और अभद्रता करने के आरोप में सस्पेंड की गई शिक्षिका उत्तरा पंत से शनिवार को शिक्षा मंत्री अरविंद पांडेय ने बात की।

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Subsidised LPG price hiked by Rs 2.71 per cylinder

Subsidised cooking gas price was hiked by Rs 2.71 per cylinder today as a result of tax impact of base price rising due to spurt in international rates and fall in rupee. Subsidised LPG with effect from midnight tonight will cost Rs 493.55 in Delhi, a statement issued by Indian Oil Corp (IOC) said. Oil firms revise LPG price on 1st of every month based on average benchmark rate and foreign exchange rate in the previous month. "The increase is mainly on account of GST on revised price of Domestic Non-Subsidised LPG," the statement said. As a result of higher global rates, the price of Non-Subsidized LPG at Delhi will increase by Rs 55.50 per cylinder. "The balance Rs.52.79 (Rs.55.50 minus Rs.2.71) is being compensated to the customer by increase in subsidy transfer to their bank account. Accordingly, the subsidy transfer in customer's bank account has been increased to Rs 257.74 per cylinder in July 2018 as against Rs 204.95 per cylinder in June 2018. Thus the domestic LPG customer is protected against the increase in international prices of LPG," the statement said. Consumers buy non-subsidised or market price LPG after exhausting their quota of 12 subsidised cylinders of 14.2-kg each.

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टीम इंडिया को लगा जोरदार झटका, इंग्लैंड के खिलाफ टी-20 और वन-डे सीरीज से बाहर हुआ स्टार तेज गेंदबाज

टीम इंडिया के स्टार तेज गेंदबाज जसप्रीत बुमराह की उंगली में फ्रैक्चर है, जिसकी वजह से वह इंग्लैंड के खिलाफ आगामी टी-20 इंटरनेशनल और वन-डे सीरीज से बाहर हो गए हैं।

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Xiaomi Mi A1 Now Receiving Android 8.1 Oreo Update: What You Should Know

Users are advised to take a backup of SMS history on their Xiaomi Mi A1 before updating. File size of the Android 8.1 Oreo update is said to be around 1.2GB.

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Nun Accuses Kerala Bishop Of Sexual Abuse, Bishop Calls It "Revenge"

A nun has filed a police complaint against a Catholic bishop of a diocese in north India, alleging that he had sexually abused her multiple times at a small town near here four years ago, police said...

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"Friends, Please See This": Sushma Swaraj's Husband Takes On Troll

The husband of foreign minister Sushma Swaraj has shown the mirror to a Twitter troll by retweeting the screenshot of an abusive post -- which the man had deleted -- that said the union minister...

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Why one of India's longest-serving bosses is getting another extension

Why does conglomerate ITC Ltd wants to extend tenure of non-executive chairman YC Deveshwar by another two years from 2020 to 2022? ITC has sent a notice to shareholders for the 107th annual general meeting to be held here next month which says Deveshwar would continue to mentor the senior management “given the increasing size and complexity of the organisation". ITC is trying to emerge as a modern diversified fast-moving consumer goods (FMCG) player while trying to shed its cigarette and tobacco legacy. In 2016-17, cigarettes had accounted for 58 per cent of its revenue, and 85 per cent of its net profit. The stock tanks on the bourses if taxes on cigarettes go up. It has remained subdued for almost a year because of fear of impact due to the goods and services tax (GST).Over the past two decades, ITC has tried hard to shed its cigarette-maker tag. The question is, has ITC done enough to set itself on course to emerge as a company that does not depend on cigarettes, and will it complete the journey anytime soon? ITC already has 25 “mother brands” (Sunfeast, Ashirvaad, etc) in its FMCG portfolio targeted at market segments, and expansion plans will involve filling in the sub-segments covered by these brands with sub-brands and product variations. For example, ITC was the number two player in shower gel but was not present in body wash, something it is entering now. The Ashirvaad brand, for instance, has now been extended to spices. It is a Rs 4,200 crore brand and is expected to grow fast with other products, apart from atta, under its banner. At the same time, ITC continues to launch new brands. Dermafique, for example, is its first premium skin care offering, being launched in April ITC has also been growing the FMCG portfolio through acquisitions. In 2014, it acquired B Natural from south Indian juicemaker Balan Natural. In 2015, it acquired Shower to Shower and Savlon brands from Johnson & Johnson and in 2017, Charmis from Colgate-Palmolive. Nascent segments where ITC is likely to scale up fast are juices, dairy, spices and salt. Then there are the premium offerings. ITC has also entered the coffee and chocolates markets at the top-end luxury segments — via boutiques at ITC’s hotels and a few select malls. The company wants to achieve FMCG turnover of Rs 1 lakh crore by 2030. In 2016-17, ITC’s FMCG arm had clocked a turnover of Rs 10,000 crore, and in the nine months ended December 31, 2017, it crossed Rs 8,000 crore. To compare, FMCG major Hindustan Unilever reported a revenue of Rs 34,487 crore in 2016-17.Deveshwar was instrumental in transforming the Kolkata-based company from being mostly a cigarette maker to a conglomerate with interests in sectors such as fast-moving consumer goods, hotels, paper and packaging, and agri-business. He was among the first CEOs to tap India’s vast countryside, by way of his unique e-Choupal concept — linking directly with farmers via the Internet for procurement of products — and by entering the FMCG space in rural areas. Since the company had started to diversify and expand under Deveshwar's, it might find his presence helpful at this crucial transition. However, many think Deveshwar's continued presence will cast a long shadow on the executive leadership.

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Indonesia Shuts Bali Airport As Mount Agung Becomes Active Again

The airport will stay shut on Friday until 7 pm local time (1100 GMT), and 48 flights had been cancelled affecting 8,334 passengers, including 38 international flights and 10 domestic flights, the...

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World Cup Live: Argentina, France Meet In Mouth-Watering Clash

FIFA World Cup 2018, Live Football Match Score France vs Argentina: Chelsea striker Olivier Giroud will spearhead France's attack in their last-16 World Cup match against Argentina as Didier...

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'If Swiss Money White, Where Is Black Money': Congress Comeback At Centre

The Congress delivered a stinging comeback to union ministers Arun Jaitley and Piyush Goyal who have said it was wrong to assume that all money in Swiss Banks was black money.

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कल से 12 अंकों का आधार नंबर हो जाएगा बेकार, यूआईडीएआई ने जारी किया नोटिफिकेशन

अब 1 जुलाई से आपको अपना 12 अंकों का आधार नंबर भूलना होगा। आधार जारी करने वाली संस्था भारतीय विशिष्ट पहचान प्राधिकरण (यूआईडीएआई) ने इसके लिए 1 जुलाई से लागू करने के लिए नोटिफिकेशन को जारी कर दिया है।

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Whatsapp 'Send Messages' Group Controls Rolling Out on Android, iPhone

The new 'Send Messages' tab is available on WhatsApp version 2.18.70 on iPhone and version 2.18.201 on Android (stable).

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फीफा विश्व कप 2018 लाइव: अर्जेंटीना और फ्रांस के बीच हाईवोल्टेज मुकाबला, मेसी पर रहेंगी निगाहें

अर्जेंटीना को यदि इस विश्व कप में आगे बढ़ना है तो उसके स्टार लियोनल मेसी को तेजी से लय आने की जरूरत है...

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US-China trade war could flood India with steel

By Swansy Afonso and Bhuma ShrivastavaIndian companies are bracing for a possible flood of steel imports should the U.S. and China follow through on their threats about a trade war.Duties imposed by the U.S. would trigger “trade diversion” from other steel makers, who would then dump their products in India, said Bhaskar Chatterjee, secretary general at Indian Steel Association, in an email. As much as 80 million tons of steel -- or 17 percent of global exports, based on World Steel Association data -- could be diverted to markets such as India, according to Seshagiri Rao, joint managing director of the country’s top mill, JSW Steel Ltd.The comments highlight the uncertainties surrounding global trade ahead of July 6, when President Donald Trump’s tariffs on $34 billion of Chinese goods are scheduled to kick in, a move that China has vowed to retaliate against. India stands out as an attractive destination because it’s the world’s fastest-growing major economy. The country has also much riding on the health of its steel industry because it’s expected to overtake Japan as the world’s second-largest steel-producing nation as soon as this year.64807424 Other steelmakers have voiced concerns about a looming trade war.Thyssenkrupp AG’s Italian unit said it will take a $220 million sales hit if the European Union doesn’t take measures. The Canadian government is preparing countermeasures to prevent a flood of steel imports through a combination of quotas and tariffs. Similar steps are being considered by the European Union too.

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US-China trade war could flood India with steel

By Swansy Afonso and Bhuma ShrivastavaIndian companies are bracing for a possible flood of steel imports should the U.S. and China follow through on their threats about a trade war.Duties imposed by the U.S. would trigger “trade diversion” from other steel makers, who would then dump their products in India, said Bhaskar Chatterjee, secretary general at Indian Steel Association, in an email. As much as 80 million tons of steel -- or 17 percent of global exports, based on World Steel Association data -- could be diverted to markets such as India, according to Seshagiri Rao, joint managing director of the country’s top mill, JSW Steel Ltd.The comments highlight the uncertainties surrounding global trade ahead of July 6, when President Donald Trump’s tariffs on $34 billion of Chinese goods are scheduled to kick in, a move that China has vowed to retaliate against. India stands out as an attractive destination because it’s the world’s fastest-growing major economy. The country has also much riding on the health of its steel industry because it’s expected to overtake Japan as the world’s second-largest steel-producing nation as soon as this year.64807424 Other steelmakers have voiced concerns about a looming trade war.Thyssenkrupp AG’s Italian unit said it will take a $220 million sales hit if the European Union doesn’t take measures. The Canadian government is preparing countermeasures to prevent a flood of steel imports through a combination of quotas and tariffs. Similar steps are being considered by the European Union too.

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मुस्लिम तुष्टिकरण के आरोप पर फिर ट्रोल हुईं सुषमा स्वराज

विदेश मंत्री सुषमा स्वराज शनिवार को एक बार फिर ट्विटर पर ट्रोल की गईं और उन पर मुस्लिम तुष्टिकरण करने का आरोप लगाया गया। 

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Live Score: India Face Netherlands For A Place In Final

2018 Champions Trophy Live Score, India vs Netherlands Hockey Match: India are currently placed second on the points table. A win or even a draw will lead team India through to the finals.

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मंदसौर रेप: चॉकलेट के बहाने बच्ची को फंसाया, आरोपियों ने बारी-बारी से किया दुष्कर्म

मध्यप्रदेश के मंदसौर रेप मामले के दूसरे आरोपी आसिफ को पुलिस ने शुक्रवार को गिरफ्तार कर लिया। दूसरे आरोपी को दबोचने के बाद कई नए खुलासे हुए हैं। 

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#जीएसटीएकवर्ष: जीएसटी को मिली धार, टैक्स बढ़ोतरी एक हजार करोड़ के पार

वस्तु एवं सेवा कर (जीएसटी) को एक साल पूरा होने जा रहा है। जीएसटी व्यापारियों और जनता के लिए काफी उतार चढ़ाव भरा रहा। वहीं, टैक्स वसूली करने वाले विभागों (वाणिज्य कर और सेंट्रल जीएसटी) की बल्ले-बल्ले हो गई।

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She Kept Gaining Weight, Didn't Know Why. It Was A 50-Pound Ovarian Cyst

For months, Kayla Rahn had been struggling with abdominal pain, swelling and shortness of breath. It wasn't until recently that she learned what was really happening: A watermelon-sized cyst was...

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From tomorrow, no need to share your Aadhaar for any verification

NEW DELHI: Unique Identification Authority of India (UIDAI) has issued a notification directing local Authentication User Agencies (AUAs) to accept Aadhaar virtual ID and UID token in lieu of Aadhaar when so mandated. Paving the way for this, the UIDAI has also asked the AUAs to make necessary changes in their authentication systems to accept virtual ID, UID Token in lieu of Aadhaar number and limited e-KYC to comply with requirements of their respective Regulators. The notification is dated June 28, 2018.Local AUAs include Telecom Service Providers, National Housing Bank regulated Finance Companies, Nonbank PPI Issuers, CCA regulated eSign Providers, non-Life Insurance Companies and NBFCs etc.UIDAI , which had earlier said it will be mandatory for all agencies that undertake authentication to accept Aadhaar virtual identity from their users from June 1, 2018, had given a month's extension to these authentication agencies. The extension was given considering the "difficulty and amount of internal work" involved for these agencies.As of now, July 1 is the deadline for service providers and agencies like banks and telecom companies to fully deploy Virtual ID system and accept these IDs in lieu of Aadhaar number. In January this year, to address privacy concerns, the Unique Identification Authority of India (UIDAI) announced plans to introduce a virtual identity (VID) for Aadhaar which an Aadhaar-card holder could generate from its website and produce for various authentication purposes, instead of sharing the actual 12-digit biometric ID.In April, Aadhaar-issuing body UIDAI followed this up with the launch of beta version of VID feature allowing users to generate VID and use it to update address in Aadhaar online. It had then said that the service providers would soon start accepting VID in place of Aadhaar number.The VID is a temporary, revocable 16-digit random number mapped with the Aadhaar number. As per the UIDAI, the virtual ID can be used for the purpose of authentication in the same way the Aadhaar number is used. Currently, VID can be generated on UIDAI's resident portal. Since this is a digital ID, Aadhaar holders can regenerate it multiple times, which makes it safer than providing your actual Aadhaar number. At present, the VID is valid for a minimum of one day, which means an Aadhaar holder would be able to re-generate a new VID a day after he has generated the first one. Further, there is no expiry period defined yet for the VID and it will be valid till the time a new one is generated by you. This particular facility on the UIDAI website, can only be accessed if you have your mobile number registered in the UIDAI database. This is because all Aadhaar-related online services are one-time password (OTP) enabled and for this, registering your mobile number with UIDAI is a must. 63527063

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Muslim Woman, Attacked For Running Cow Shelter, Appeals To PM For Help

A Muslim woman from Madhya Pradesh, who was assaulted in Bhopal today for running a cow shelter, fears that her attackers might use acid next time. "They came prepared. They threatened to kill me....

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सरकार कल मनाएगी जीएसटी दिवस, जेटली बोले- कर संग्रह में हुई 44 फीसदी की बढ़ोतरी

वस्तु एवं सेवा कर (जीएसटी) की पहली वर्षगांठ पर सरकार एक जुलाई 2018 को ‘जीएसटी’ दिवस के रुप में मनायेगी । नरेंद्र मोदी सरकार ने पिछले साल एक जुलाई को इसकी शुरुआत की थी। भारतीय कर सुधार की दिशा में यह सबसे बड़ा कदम था।

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All this LIC money is just cold comfort for the new man on IDBI's hot seat

MUMBAI/KOLKATA: Beleaguered IDBI Bank getting ₹9,000 crore in equity investment from Life Insurance Corp of India may be a lifeline for the lender, but to regain its past glory it requires a new vision and strategy from B Sriram who has taken over as its new chief executive.For a bank that is stuck with more than a quarter of loans as bad loans and not much of a retail presence, a new strategy on how to ride the digital revolution and changed corporate loans landscape are the much needed solutions.“The speed with which it got done is remarkable,” said Ashvin Parekh an independent industry analyst and a former consultant at EY.“Between policyholders and shareholders of IDBI Bank, nobody should benefit at the cost of the other. There is no proposal as how LIC will bring the bank out of the rut. There will be constraints. When it will come to technicalities related to banking, we have to see whether they have the bandwidth.”Capital alone is not enough for IDBI Bank. In the past decade, IDBI Bank has received capital from the government to the tune of ₹22,884 crore, data from ICRA shows. Even last fiscal it received ₹12,471 crore in capital IDBI Bank transformed into a universal lender from having been a term lending institution specialising in project funding in the pre-liberalisation era when the country faced enormous capital deficiency. Even as it changed its stripes, it was unable to cope with the challenges and competition.IDBI Bank’s stressed assets from the state, far higher than any other bank. If the past capital investments did not help it much, it is doubtful whether LIC’s investment alone can bring the bank out of the slump.“If the bank recovery happens in the next 4-6 quarters, then policyholders will benefit, else the money is going down the drain. LIC will have to provide more capital in the next few quarters,” said Parekh.IDBI's stressed assets are at 27.95% of total, the highest among all banks. Its capital adequacy is at 10.70%. It hasn’t made a profit in the past three fiscal years.“LIC will now have higher representation in IDBI board. So, there will be fresh thinking which should help IDBI in the long run. This is the first step by the government in reviving state-owned banks,” said Sanjeev Jain, an analyst with Ashika Stock Broking. “Shareholders should see IDBI Bank as a longterm bet.”While its immediate rival ICICI managed to become a fullfledged retail bank under the stewardship of KV Kamath, the continued government ownership and diktat from New Delhi restricted the activities of IDBI Bank.But given its precarious financial position, it would be a tall order for it to cut cheques for thousands of crores for single project and sit pretty. With most banks switching out of project lending, the glory days of IDBI Bank may be behind.Also, big companies such as Reliance Industries and Hindalco Industries are shifting their funding profile with them accessing the bond markets more often which give them better pricing than a bank loan.So, IDBI Bank faces challenge in its traditional stronghold as well.

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India to auction 40 GW renewables every year till 2028

India will auction 40 GW of renewable energy projects comprising 30 GW solar and 10 GW wind every year for the next 10 years till 2028, indicating huge potential for domestic manufacturers and developers, a senior official said today."We have 30 GW solar energy bidding plan for 2018-19 and 2019-20. This 30 GW auction per annum would continue till 2028. Similarly, we have to auction 10 GW of wind energy for next 10 years till 2028 to meet the power demand of 862 GW by 2030," New and Renewable Energy Secretary Anand Kumar told reporters at the Global Wind Day celebration by the Indian Wind Turbine Manufacturers Association (IWTMA).Elaborating further, he said, "We have to do 350 GW in solar (to meet demand by 2030), of which 100 GW is planned till 2022. So we have to bid out at least 30 GW each year from 2020 onwards to achieve additional 250 GW."The government's power projection indicates that India will have to bid out 140 GW of wind energy to meet demand by 2030, he said, adding the country would complete bidding of 60 GW of wind energy by 2o2o.Kumar further said, "Therefore, we have to do 10 GW every year till 2028 to meet the overall power demand of 862 GW by 2030. India has already achieved 70 GW of renewable energy capacity including 22 GW of solar and 34 GW of wind."India would ultimately have around 500 GW of renewable energy capacity by 2030, including 350 GW of solar and 140 GW of wind energy.The secretary was of the view this capacity addition would give enough opportunity to domestic renewable energy equipment manufacturers and project developers.The Central Electricity Authority and other government agencies have worked out a demand projection of 862 GW by 2030 factoring in 6 per cent growth in electricity demand per annum.About the best bidding mechanism, he said, "We have engaged IIM Lucknow for preparing a detailed report on merits of close envelop auction and reverse bidding method. They are expected to give their report in July. The government will take call only after that."Kumar explained that some players had expressed concerns that the bidders with deep pockets can hurt small developers by outbidding them in auctions for renewable projects.However, he also admitted that tariff-based reverse auction helps in achieving the best pricing.Under the close envelop auctions, the bid price cannot be changed whereas in reverse auction, the bid price is known and bidders can outbid each others.The secretary also said the ministry would call a meeting of bankers and financial institutions in July to allay fears related to projects turning into NPAs or bad loans as there is no such case at present.He said the 500 MW capacity in Bhadla Phase-III Solar Park, Rajasthan -- which witnessed lowest solar tariff of Rs 2.44 per unit last year in May -- would be commissioned in August this year.Suzlon Group Chairman Tulsi Tanti and President IWTMA said India would double its wind energy manufacturing capacity to 25 GW per annum by 2020.He exuded confidence that India would overachieve wind energy capacity target of 60 GW by 2022 and would rather have 80 GW by that time.He said that keeping in view scenario beyond 2030, offshore wind and solar-wind offshore would be the future in respect of issues and cost related to land acquisition.

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माल्या 27 अगस्त को हाजिर नहीं हुआ तो 125 अरब की संपत्ति होगी जब्त, समन जारी

शराब कारोबारी विजय माल्या को 27 अगस्त को एंटी मनी लॉड्रिंग विशेष अदालत में पेश होने का समन जारी किया गया है।

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बनारस में पूर्व मंत्री गायत्री प्रजापति के खिलाफ केस दर्ज, फोन पर धमकी देकर मांगी थी रंगदारी

सपा सरकार में खनन मंत्री रहे गायत्री प्रसाद प्रजापति के खिलाफ शनिवार को बनारस के दशाश्वमेध थाने में रंगदारी मांगने का मुकदमा दर्ज किया गया है।

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जम्मू-कश्मीर: भारी बारिश से बाढ़ का खतरा, आपातकालीन बैठक में राज्यपाल ने लिया स्थिति का जायजा

जम्मू-कश्मीर में भारी बारिश के बाद कई जगह बाढ़ जैसे हालात हो गए हैं। झेलम और उसकी सहायक नदियां खतरे के निशान से ऊपर बह रही है। 

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हरियाणा: बेटियों के हक में पंचायत ने लिया ऐतिहासिक फैसला, सीएम ने की तारीफ

एक ओर जहां देश में बेटियों के खिलाफ अपराधों की संख्या में इजाफा हो रहा है, तो वहीं एक पंचायत ने बेटियों की हक के लिए एक अहम फैसला लिया है।

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इस क्राइम रिपोर्टर ने उठाया था संजय दत्त के आतंकी संबंधों से पर्दा!

संजू फिल्म देखते हुए आज बलजीत परमार की बहुत याद आई

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'ग्रे लिस्ट' में डलने से अलग-थलग पड़े पाकिस्तान की मदद को एक बार फिर सामने आया चीन

आतंकियों को वित्तीय सहायता पर लगाम लगाने में नाकाम रहे पाकिस्तान को ग्रे लिस्ट में डालने के फाइनैंशल एक्शन टास्क फोर्स (एफएटीएफ) के फैसले के बाद अंतरराष्ट्रीय मंच पर अलग-थलग पड़ गए पाकिस्तान की मदद के लिए एक बार फिर चीन आगे आ गया है।

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#जीएसटीएकवर्षः सरकार की नजर में राहत, व्यापारी बोले आफत, तकनीकी दिक्कतों से पूरे साल जूझते रहे लोग

देश में जीएसटी लागू हुए एक जुलाई को एक साल हो जाएगा। सरकार इसे व्यापारियों के लिए राहत बता रही है तो व्यापारी इसे आफत।

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Mumbai Plane Crash: "Who Exactly Was At Fault", Asks Co-Pilot's Husband

The husband of the co-pilot of the chartered plane, which crashed in suburban Ghatkopar on Thursday, sought to know who cleared the flight despite the adverse weather conditions and if the aircraft...

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Anatomy of a crash: Lessons for aviation from a 69-yr-old tragedy

The plane crash in Ghatkopar, Mumbai has a curious parallel from almost exactly 69 years back. On July 12, 1949 the KLM Constellation aircraft Franeker crashed in the hills between Ghatkopar and Powai, killing the 34 passengers and 11 crew members aboard. It was India’s worst air disaster till that date and it attracted international attention because the victims included a large group of American journalists, including HR Knickerbocker, a Pulitzer Prize winner who had become famous in the years leading to World War II for his prescient reporting from Berlin about the dangers of Adolf Hitler and the Nazis. The plane was on its way back to Europe from Indonesia, where the journalists had been taken by the Dutch government in an attempt to show their side of the ongoing liberation struggle. In sympathy with the revolutionaries, newly independent India and Pakistan had initially refused permission for the colonial government’s carrier to land and refuel, as was required by the aircraft of that time. India had relented and allowed the plane to land in Delhi, but Pakistan apparently refused permission for it to land in Karachi. According to the detailed report in the Times of India (ToI) on July 13, this was why it had to attempt the difficult monsoon landing in Bombay. The plane had made a first approach, but with runway “temporarily unserviceable”, it had taken off for another sweep. The Ghatkopar area is now a concrete jungle, but it was almost an actual jungle at that time. The ToI reported on how locals had heard “a deafening detonation” and gone to investigate through “thick undergrowth, across waterlogged fields and nullahs swollen by unceasing rain.” Horrifyingly, the first victim they found was still alive, “a woman in agony”. She died as they tried to help her. 64802352 ToI reported the international attention that followed and the funerals of the victims. Most of them were buried between the city’s Haines Road and Sewri cemeteries, with the two Chinese origin victims being interred at the Chinese cemetery at Antop Hill. “The Chinese consul performed the obsequies which included the burning of joss sticks and the offering of food and wine to the spirits of the dead.” Most important of all, ToI followed the formal inquiry. This placed the blame on pilot error, but also urgently recommended upgradation of Santa Cruz airport, which clearly had to be ready to deal with a huge increase in air traffic, in all weathers. The measures included “development of the east-west runway at Santa Cruz airport as the main instrument runway, equipping it with high intensity lighting and approach lighting” and more equipment, all for an estimated cost of Rs 34 lakh. The recommendations also included blowing up the tops of the hills which had caused the problems and installing permanent beacons. The latter was done, but the reduction was not felt to be feasible at that time. Yet over the decades this has effectively happened simply due to rampant development—but with the substitution of tall buildings as a new hazard. The new crash in Ghatkopar is a stark reminder of the problems that remain with such a busy airport in an intensely crowded area. The crash was both tragic in itself and a vivid warning of a far worse disaster waiting to happen with a larger aircraft. Bombay in 1949 learned from the Ghatkopar crash and upgraded Santa Cruz airport. Will Mumbai in 2018 learn from this crash and expedite development of its much-needed second airport.

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85 shopping malls likely to be launched in next 5 years: Anarock

Nearly 85 shopping malls are expected to come up in the country over the next five years, despite growing trend of online marketing, according to property consultant Anarock."There is so much talk of the death of brick-and-mortar retail as a consequence of the aggressive advent of e-commerce into the country, when the fact is that shopping malls have just got started in India - and they are definitely here to stay," Anarock Retail MD and CEO Anuj Kejriwal said in a report. Over the next five years, the consultant said that nearly 85 malls are expected to come up in India. Out of 85, more than 30 new malls accounting for nearly 14 million sq ft area will open just in the top eight cities by 2020. Kejriwal hoped that mall revolution in India will go for next cycle of evolution as real estate developers learn through their experience to find more winning formulas for their malls and also as retailers get more into omni-channel selling. Explaining why Indian mall story rocks, Kejriwal said: "Unlike 'couch potato' e-commerce shopping, malls offer an experience... a touch-and-feel benefit which online shopping cannot". Further, he said that going to a mall becomes an outing for the family and friends and that too in an air-conditioned comfort. "The massive Indian middle class loves this experience and online retail is unlikely to put malls in the shade in India anytime soon," he said. However, he said that e-commerce has had an effect on mall business as online portals offer deep discount. Kejriwal said that both online shopping and physical retail will continue to coexist in India, without impacting each other too much. The consultant said the cities that have seen maximum malls include the national capital region, Mumbai, Chennai, Bengaluru and Pune. The expansion of shipping malls are now taking place in tier-ll cities because of low vacancy levels and high rentals in big cities. Overseas retailers are now expanding not just in metros but even tier 2 cities namely Ahmedabad, Chandigarh, Lucknow and Jaipur and this has led to mushrooming of malls all across the country, Kejriwal said. "We are definitely not looking at a deathbed scenario here - as a matter of fact, just the opposite. However, like every other real estate vertical in India, retail has also had to evolve with the times in order to retain its allure," he said. Stating that no mall in India can survive on just shopping experience, the consultant said developers have understood that they need to transform their malls into a prominent 'shoppertainment' locations. The consultant also said that large malls tend to do better as they are better able to incorporate all the features required for successful operations. Many malls have failed in India due to variety of reasons such as wrong location, insufficient or unscientific parking arrangements, unsuitable tenant mix and lack of a food court, among others. Strata-ownership of shops was also a major issue in many of the failed malls.

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No single silver bullet for dealing with NPAs: Jayant Sinha

In an interview with Supriya Shrinate of ET Now, Jayant Sinha, MoS, Aviation, talks about a range of options for dealing with NPAs and that a bad bank could also be an option worth considering. He also says that investment is happening, but in new sectors. Edited excerpts:It’s one year of GST and obviously the government is in a big celebratory mode. The opposition believes it was not a very well laid out GST and the 64779400 rates are too high. In the hindsight, do you believe the government could have done it differently? In your present capacity, you are trying to push ATF under the GST. How hopeful are you of that going through? We are hopeful that ATF will get included in GST. That will be the economically right decision to make. We have to get the states on board. The central government obviously has been advocating that all petroleum products should come under GST. That is exactly why the constitutional amendment included petroleum products and we had set the trajectory for that and hopefully we will get there once the states are on board. But overall, I would say that GST has been outstanding success. We are getting revenues of up to Rs 1 lakh crore a month which is a very robust growth from where we were earlier. We have added 45-50 lakh new indirect tax payers which is a stunning growth in the number of indirect tax payers.The most remarkable thing about GST is the effect it has on formalisation of the Indian economy. The EPFO numbers that are being added to payrolls in a formal way is growing every month. It is showing a very strong and robust progress. People are gradually settling into and using the GST forms and understanding how to do that and that is making us more competitive, efficient and enabling further growth. GST is a signature reform for this government. Never before in human history has this level of tax reform been attempted in such a large country and implemented so successfully within a year.GST was meant to be a game changer. I am glad it is at least turning out to be one after its initial teething troubles. The other part of your reform drive has been to clean up India’s toxic public sector banks and the idea of a bad bank seems to be back on the table. Could this add to the multiple layers of cleaning up banks? I would caution anyone on looking for just one silver bullet. The reality of the NPA situation in India is we have to do a host of different things. There is a lot of work which we started doing some years ago when I was in the Ministry of Finance and that has progressed very well. We are looking at the various sectors and seeing what can be done to heal those sectors and ensure that those sectors are vibrant once again.We attempted that in steel and steel has turned around and the NPA situation has abated there. We are looking at what we can do with power assets. Clearly, there are things we need to do in real estate as well. So, we have to look at the underlying sectors and try and improve the health that is one thing. Second, we have to get the ARC process to work well and clear the markets. Three, we have to get the insolvency in bankruptcy code working. It has now started to work and we have to get resolution there. Four, there may be ways in which we can see whether we can create a bad bank, good bank type combination. In Air India, that is exactly what we did. I brought over my experience from the Ministry of Finance to see whether we can do that in Air India and maybe we can follow that up with IDBI as well.In Air India, we took a whole host of assets -- the non-core real estate, the art and the artefacts, some of the debt, Centaur Hotels, Alliance Air and several of these assets and we put them into Air India Asset Holding Company. That enabled us to create a clean efficient well run airline on the other side. So, we separated it. Now, if we have a bad bank and the good bank combination, that becomes a much more attractive proposition. So, these are the fout things that we have attempted. When we look at the situation with NPAs, let us not just look for one silver bullet. There is a range of options we have to consider and potentially the bad bank could be also an option that may be worth considering. The policy makers are looking at this and will take the right decision in the interest of the economy. There cannot be just one silver bullet and there have to be many options but all of this is geared towards one aim and that aim is to make industry begin investing to deleverage balance sheets and clean up banks so that they can begin lending. When do you think that is going to happen? I disagree with that entire idea. I disagree because every time we have a new growth cycle, it is led by new industries and that is the way any modern day economy works. Today many sectors are seeing massive investments. Swiggy got a large investment right now and became the newest entrant to the unicorn club. So food delivery is getting huge investments. We just saw the investment of Walmart into Flipkart. A massive investment is happening in logistics, in building supply chains, in procurement and so on. Rivigo is another unicorn that has now become the largest purchaser of trucks in India. So, investment is happening. Perhaps investment is happening in different sectors That is how growth happens. New sectors come up. The aviation is a great example and you do not see the investment in aviation showing up in the investment numbers because all the planes are leased. We have massive orders for planes coming up. We have over 900 planes on order right now that is billions and billions of dollars. We have lakhs of crores invested in airports as well. So, investments are happening, it is just that they may not happen in the sectors that we were looking at previously because that is like looking in the rear view mirror. We have to look out the windshield and see where the growth is happening. But given the kind of sectors that are now drawing in investments, are interest rates largely becoming irrelevant? For Swiggy to raise funds and be a unicorn, it does not matter what RBI’s interest rates are, whereas for a steel company to set up a new project it remains relevant. Do you believe that the high interest rates regime that we are entering, is largely irrelevant? Interest rates are obviously important for capital intensive industries or for debt financing and consumer purchases. Perhaps, more important, are real interest rates. Though the important question for India now is the real cost of capital going up, because easy money policies of the central banks in the develop world is now changing. That will mean we have to be careful in India as the cost of capital is going to go up, not so much because inflation is going up but because the entire paradigm is shifting.You started off this interview by saying that this was market dynamics that perhaps did not see so much of investor interest do you believe some of that market dynamics some of that sentiment has been marred by questioning of Air Asia or summoning of Tony Fernandes? Is this kind of institutional activism once again taking a toll on investments? I cannot speculate on why people choose to bid or not bid. I really cannot get into that as I said the consolidated feedback from the transaction adviser suggest that it was really market circumstances, industry dynamics that inhibited bidding.

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शरद पवार का महागठबंधन को करारा झटका, कहा- आम चुनाव में तीसरा मोर्चा व्यवहारिक नहीं

साल 2019 में होने वाले आम चुनाव से पहले बीजेपी और कांग्रेस से अलग किसी तीसरा मोर्चे के गठन के प्रयासों को राष्ट्रवादी कांग्रेस पार्टी (एनसीपी) ने करारा झटका दिया है।

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मंदसौर रेप पर चढ़ा सियासी पारा: देश में बढ़ा आक्रोश, कांग्रेस बोली- सही दिशा में नहीं हो रही जांच

मध्य प्रदेश के मंदसौर में सात साल की बच्ची के साथ हुई हैवानियत ने पूरे देश को हिलाकर रख दिया है। मंदसौर में हजारों की संख्या में लोग सड़कों पर उतर आए हैं और आरोपियों को फांसी की सजा देने की मांग कर रहे हैं।

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जीएसटीः सरकार देने जा रही है लोगों को बड़ा तोहफा, घर बनाना होगा सस्ता, इस सेक्टर में आएगा उछाल

वस्तु व सेवा कर को लागू होने की पहली वर्षगांठ पर जीएसटी काउंसिल जल्द ही लोगों को एक बड़ा तोहफा देने जा रही है, जिसके बाद घर बनाना काफी सस्ता हो जाएगा।

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Rishi Kapoor Tells Son Ranbir To Marry 'Best Friend'. See Pic

A classic case of Rishi Kapoor trolling Ranbir

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14-Year-Old Mumbai Girl Left A Note For Her Mother Before Suicide

Moments after writing a chilling letter to her mother, revealing that she no longer wanted to live, a 14-year-old girl jumped to death from a high-rise in Kandivli on Thursday.

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Andhra Student Raped, Assault Filmed; Man With Video Demands 10 Lakhs

A 22-year-old engineering student from Andhra Pradesh has accused her seniors of raping her, filming the act and using it to blackmail her. In her complaint to the police, she said that two of her...

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Moto E5 Plus India Launch Set for July, Moto E5 May Arrive at Later Date

Gadgets 360 has learnt that only the Moto E5 Plus will be coming to India in July, and the Moto E5 might arrive at a later date.

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On Camera, Fishermen Poke Tiger In Sunderban River With Stick

A Royal Bengal Tiger was filmed swimming across a river in the Sunderban National Park when a trawler of fishermen drove straight towards it. The fishermen could be seen prodding at the tiger with a...

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Amidst Wedding Rumours With Ranveer, Deepika Says 'I Want To Have Kids'

While a stony silence continues to be maintained at the Padukone and Singh quarters, Deepika shared how she deals with speculation

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Flood Alert In Jammu And Kashmir, Amarnath Yatra Suspended

Amarnath Yatra has been suspended due to inclement weather and bad condition of the roads in Baltal and Pahalgam routes. Flood alert has also been sounded in Jammu and Kashmir.

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Chetan Bhagat Prefers Train Journey In Anubhuti Coaches Over Air Travel

Anubhuti coaches: Calling his trip in Shatabdi train a joy, Chetan Bhagat urged passengers to prefer train journey instead of air travel

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Should Petrol, Diesel Be Brought Under GST Regime? What Experts Say

One Year of GST: If petrol and diesel are also brought under the GST regime, can it help provide relief to consumers?

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Oppo O-Free Wireless Bluetooth Headset With Translation Support Launched

The Oppo O-Free Wireless Bluetooth Headset price in China has been set at CNY 699 (approximately Rs. 7,200).

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अगले 72 घंटों में 19 राज्यों में होगी मूसलाधार बारिश, मौसम विभाग ने जारी किया ऑरेंज अलर्ट

मौसम विभाग ने बताया है कि  देशभर के कई राज्यों में आने वाले 3 दिनों में दिल्ली के अलावा, उत्तर प्रदेश, मध्य प्रदेश सहित 19 राज्यों में भारी बारिश हो सकती है। आईएमडी ने ताजा अपडेट में 19 राज्यों के लिए ऑरेंज अलर्ट भी जारी किया है।

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Old tax tricks are falling flat under GST, 200 companies just learnt it the hard way

The indirect tax department has issued notices to about 200 companies after data mining revealed that they may be guilty of evading the goods and services tax (GST). The findings showed that these companies may be under-invoicing or selling their goods in cash to customers. The data mining has raised red flags in situations where details in GSTR3B and GSTR1 didn’t match. GSTR1 is an online form in which details such as value of the product, tax rate and amount of tax are mentioned. GSTR3B is an online form that records sales and purchase details. “It is apparent that the GST authorities have started scrutiny of the returns using the data emanating from the system and the information sought from taxpayers on specific aspects, which are required to be responded to with specific details,” said MS Mani, partner, Deloitte India. “It is imperative to have the returns doubly verified before vigil on the information sought by the authorities in order to prevent litigation.”The data mining showed that companies were purchasing products at high prices but there was a mismatch with sales. “You have set off your tax liabilities (GST) by way of payment using input tax credit in excess of 95% of the total tax liabilities... In other words, payment of tax was less than 5%,” read the tax notice sent to a company that EThas seen. 64801314 Tax officials said many of the companies recorded large raw material purchases but little sales, suggesting that they may be under-billing or selling products at lower prices officially and accepting money in cash from buyers for the rest, tax officials said. However, experts said there could be another explanation. “The tax department has issued notices but many companies may have used transition credit from the previous tax regime against tax due and to assume that they have not paid tax on actual value addition may not be fair,” said Sachin Menon, national head of indirect tax, KPMG. “This mismatch could also be due to the suppliers not uploading all the invoices while the company may have taken these credits as they have received tax invoices and paid for them.” As part of the transition to GST last year, companies were allowed to use unused, old tax credits on their books as transitional credits to set off future GST liabilities. To assume that tax credits for all businesses only pertain to one month may not be accurate, tax experts said. Legal experts said that such notices could lead to litigation and some companies may be looking to approach the courts. “While there could be some lapses in a few cases, the entire business community cannot be looked at through the fraud lens,” said Abhishek A Rastogi, partner at Khaitan & Co. “Such notices should be issued after thorough examination as there could be several reasons for less payment through cash. In case we will find that the notices are arbitrary, we may opt to file writs against such action.” Tax officials on the other hand pointed out that many companies indulge in undervaluing sales and overvaluing purchases. “In the earlier tax regime, such transactions would typically go undetected as there was no mechanism to compare inputs from suppliers with sales,” said one of them. “Underinvoicing and over-invoicing is the biggest method by which most companies escape tax and generate black money.” The government had charted out sector-wise ‘risk factors’ or issues companies might exploit to avoid paying GST. According to the tax official cited above, categorisation or risk evaluation for these audits has been created by using big data analytics. The government has used statistics of the last two financial years to create the audit checklist. Big data analytics is being used by tax departments since 2016. The tool is deployed to find outliers in any sector and the gap with industry based average taxes is used to determine targets for further scrutiny. “The government would have comparables,” said a person with knowledge of the matter. “Say, if 10 consumer goods companies of a particular size pay Rs 50 crore in taxes, it is unlikely that one company of the same revenue size would pay Rs 1crore. Data analytics could easily point out such anomalies and the lens would then be on such companies.”

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Box Office Welcomes Sanju With Jaadu Ki Jhappi. Highest Opening Of 2018

Despite being a non-holiday release, Sanju managed to kick-start the week with a "phenomenal total"

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Malaysia Open 2018 Live: PV Sindhu Takes The Second Game vs Tai Tzu Ying

Malaysia Open 2018 Live, PV Sindhu vs Tai Tzu Ying Badminton Score, Semi Final Match: The 22-year-old Sindhu, who won a silver at the Glasgow World Championship, is pitted against world no 1 and...

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'He Tried To Kiss My Ear': Actress Shares About Brush With Casting Couch

Swara, who has been part of the industry for almost a decade now, opened up about her first-hand experience of the much-debated issue

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मूसलाधार बारिश के बावजूद कम नहीं हुआ भक्तों का उत्साह, अमरनाथ यात्रियों का चौथा जत्था पहुंचा जम्मू

मूसलाधार बारिश और भारी बर्फबारी के बावजूद अमरनाथ यात्रियों का उत्साह कम नहीं हो रहा है। बाबा बर्फानी के दर्शन को चौथा जत्था भी जम्मू बेस कैंप पहुंच चुका है।

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आसान नहीं है 75 साल के राजस्थान भाजपा अध्यक्ष सैनी की चुनौतियां

भाजपा ने 72 दिन के इंतजार के बाद मदन लाल सैनी को राजस्थान भाजपा का अध्यक्ष बनाया है। 1943 में पैदा हुए 75 साल के सैनी अशोक परनामी के उत्तराधिकारी हैं, लेकिन प्रदेश अध्यक्ष के तौर पर उनकी चुनौतियां काफी पेंचीदा हैं।

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Women Commandos Train Hard To Fight Stone Throwers In Jammu And Kashmir

From blindfolding them to deal with night-time deployment to training them to repair weapons in under a minute, the CRPF women commandos are undergoing a rigorous training.

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5 Elephants Circled Thai Man On Motorcycle, Trampled Him To Death

A Thai man was trampled to death by five wild elephants near a rubber plantation Friday, police said, the latest deadly encounter in a country where pachyderms are both venerated and feared.

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वीडियो : सरकारी अस्पताल का हाल बेहाल, स्ट्रेचर न मिलने पर मरीज को बेडशीट से खींचकर ले गए परिजन

सरकारी अस्पतालों का हाल बेहाल है। आए दिन सरकारी अस्पतालों की बदहाल व्यवस्था की पोल खोलने वाली खबरें सामने आ रही हैं।

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मंदसौर की सात साल की बच्ची का दर्द बेइंतहा, कहा- मुझे ठीक कर दो या मार डालो

इंदौर के महाराजा यशवन्तराव होलकर चिकित्सालय में भर्ती मंदसौर की 'निर्भया' की हालत स्थिर बताई जा रही है। इस सात साल की मासूम बच्ची के साथ हुई हैवानियत के बाद वह सहम गई है।

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हाईकोर्ट ने रच दिया इतिहास, पहली बार हिंदी में उपलब्ध कराया आदेश

हिंदी में कोर्ट के फैसला चाहने वालों के लिए अच्छी खबर है। अब उन्हें अंग्रेजी भाषा में लिखे फैसले पर निर्भर नहीं रहना पड़ेगा।

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आज है आधार से पैन कार्ड लिंक कराने की आखिरी तारीख, आयकर विभाग की वेबसाइट हुई क्रैश

आधार कार्ड और पैन कार्ड आपस में लिंक कराने की समयसीमा शनिवार यानी 30 जून को खत्म हो रही है।

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मध्य प्रदेश: रेप पीड़िता से मिलने पहुंचे भाजपा नेता निकले बड़बोले,कहा- सांसद जी को धन्यवाद बोलिए

मध्य प्रदेश के मंदसौर में 7 साल की मासूम के साथ हुई हैवानियत को लेकर पूरा देश उबाल पर है। लोग आरोपियों को सख्त से सख्त सजा देने की मांग कर रहे हैं।

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कर्नाटकः येदियुरप्पा बोले- कांग्रेस और जेडीएस के 'बागियों' को भाजपा में शामिल करो

कर्नाटक के पूर्व मुख्यमंत्री और भारतीय जनता पार्टी के नेता बीएस येदियुरप्पा अभी भी सरकार बनाने की जुगत में जुटे हुए हैं।

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New Mukesh Ambani weapon all set to disrupt India just like Jio did

After majorly disrupting the telecom market with freebies and cheap data, Mukesh Ambani's Reliance Jio is going to unleash another weapon— Fiber to the home (FTTH). It is expected to disrupt the segment of home broadband services now. It is likely to offer an attractive combo of fast broadband connectivity at initial data speeds of 100 Mbps (with huge dollops of free data thrown in), videos and unlimited voice calls through the Vo-IP (voice over internet protocol) route for around Rs 1,000-1,500 a month. What is FTTH?FTTH, as the name suggests, means installing the fiber cable right up to the individual building. At present, the fiber cable reaches only till the main premises while the last connections to individual homes/offices are through traditional copper cable. Why is FTTH faster?The cable used for connections to individual units is not made of fibre. The traditional cable is not as efficient as the fiber cable. Due to patches, etc, the traditional cable is slower. A fiber cable till the individual unit dramatically increases speed and quality and improves the experience of surfing, gaming and streaming, etc. FTTH could be 100 times faster than the traditional modem connections. FTTH is also costlier than the traditional cable.Is Jio the first FTTH provider?No. Bharat Sanchar Nigam Ltd (BSNL) already offers FTTH broadband schemes in Kolkata and Chennai. However, Jio's entry in FTTH will at a much bigger scale and more aggressive. Jio is running a pilot in many cities. What will be Jio's impact? An aggressive FTTH service launch by Jio can cause two sets of disruptions, according to Rohan Dhamija, partner & head for India, South Asia & Middle East at Analysys Mason. First, it can immediately disrupt home broadband pricing, forcing rivals such as Airtel to slash rates. Second, it could also have a secondary impact on the larger mobile services market, if Jio chooses to bundle generous wired broadband packs with its current 4G plans.

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PAN-Aadhaar linking deadline expires today: Here's what will happen from tomorrow

The deadline for linking of PAN with Aadhaar expires today i.e. June 30, as per the last press release from the Central Board of Direct Taxes (CBDT). While chartered accountants opine that there would be grave consequences for those whose PAN-Aadhaar are not linked by this deadline, they are also of the view that the deadline is very likely to be extended. Purely technically, as per Section 139AA (2) of the Income Tax Act, your PAN may become invalid unless linked to your Aadhaar (except for exempted cases) by this date.However, no notification/release has been issued on the subject till the time of publishing this article. Further, there is no clarity among the chartered accountants regarding what will happen once this deadline expires if there is no extension.According to Chetan Chandak, Tax Research, H&R Block India, says "At present there is no clarity on this matter. Unless the date is further extended by the CBDT in this regard those taxpayers who already have an Aadhaar allotted in their name and not yet linked it with their PAN may face grave consequences."He further adds, "Taxpayers may not be allowed to file the return post 30th June without linking the PAN and Aadhaar. Also, if they have already filed the return it may not get processed by the tax authorities. But in the backdrop of the supreme court judgement their PAN may not be deactivated/invalidated because they are bound to suffer immensely in their day to day dealings owing to deactivation of PAN."On the other hand, Shalini Jain, Tax Partner, People Advisory Services, EY India says, "As per proviso to section 139AA(2), in case of failure to link Aadhaar within the due date, PAN allotted to the person shall be deemed to be invalid. The SC in the case of Binoy Viswam has provided for a partial stay on the operation of this proviso for those who do not have Aadhaar and therefore have not completed the linking process. Basis the existing provisions of the Act and the SC ruling, there is a risk of PAN being considered as invalid in relation to persons who have Aadhaar but have not linked the same to PAN by the due date. The current due date is tomorrow, i.e. 30 June 2018."Another, practising chartered accountant who did not wish to be quoted said that, there can be four possible consequences:1. It may be possible that your PAN becomes invalid from 1st July 2018 and you are not able to login on the website of income tax department. 2. If the deadline for linking the two is not extended - It may be possible that all those whose Aadhaar and PAN are not linked will not be able to file their income tax returns. 3. It is also possible that if the deadline is not extended-you may be able to file return but it may not be processed. 4. If the deadline is extended then you may be able to file returns (without linking of Aadhaar -PAN) and these may be processed also like last year.However, they all believe that it is very likely that the CBDT will extend the deadline in order to avoid hardship for common taxpayers. CBDT in the past has extended the deadline to link same several times. The initial deadline to link PAN and Aadhaar was 31 August, 2017 which was further extended to December 31, 2017. This deadline was again extended to March 31, 2018. Post Supreme Court judgement of extending deadline 'indefinitely' of linking Aadhaar to various services, CBDT pushed the deadline to June 30, 2018.In its press release dated 10 June, 2017, the CBDT had stated that the Supreme Court, in its judgement, had upheld the validity of Section 139AA(1) and Section 139AA (2) which mandatorily require quoting of Aadhaar for new PAN applications as well as for filing of returns and require that the Aadhaar number must be intimated to the prescribed authority for the purpose of linking with PAN.As per the press release, "It is only the proviso to Section 139AA(2) where the Supreme Court has granted a partial stay for the time being pending resolution of the other cases before the larger bench of the Supreme Court. "The Supreme Court has unequivocally stated as follows:Those who have already enrolled themselves under Aadhaar scheme would comply with the requirement of sub-section (2) of Section 139AA of the Act. Those who still want to enrol are free to do so. However, those assessees who are not Aadhaar card holders and do not comply with the provision of Section 139(2), their PAN cards be not treated as invalid for the time being. It is only to facilitate other transactions which are mentioned in Rule 114B of the Rules. We are adopting this course of action for more than one reason. We are saying so because of very severe consequences that entail in not adhering to the requirement of sub-section (2) of Section 139AA of the Act. A person who is holder of PAN and if his PAN is invalidated, he is bound to suffer immensely in his day to day dealings, which situation should be avoided till the Constitution Bench authoritatively determines the argument of Article 21 of the Constitution. CBDT, in its press release dated May 12, 2017 has exempted the following individuals from linking PAN with Aadhaar, if they do not possess the Aadhaar/Enrolment ID. These are as follows:a) An Individual residing in the state of Assam, Jammu and Kashmir and Meghalaya.b) An individual who is non-resident as per the Income-tax Act, 1961.c) An individual of the age of 80 years or more at any time during the previous yeard) An individual who is not citizen of IndiaAlso Read: How to link PAN with Aadhaar

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Watch: MS Dhoni's Daughter Ziva Is Hardik Pandya's New 'Cheerleader'

The Men in Blue bowled out the hosts for just 70 runs and recorded a comprehensive 143-run victory to win the series 2-0.

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Woman Stripped, Thrashed For Trying To Stop Attack On Landlady In Delhi

A 45-year-old woman was allegedly stripped and beaten up by her landlady's family members after she tired to stop them from attacking the latter, police said yesterday.

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Vijay Mallya's Response After Probe Agency Dismisses His "Plea Bargain"

Fugitive business tycoon Vijay Mallya today dismissed the statement made by an Enforcement Directorate official claiming that he is attempting a "plea bargain". The official had said that Vijay...

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2nd T20I: India Outclass Ireland By 143 Runs To Win Series 2-0

Highlights, India vs Ireland 2nd T20I: India defeated Ireland by 143 runs to clinch the series 2-0

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Airtel Lowers Data Benefits on Rs. 149, Rs. 399 Packs

Some subscribers are even reportedly receiving the reduced validity of 70 days with the Rs. 399 pack.

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In India's Response To Terror Financing Tag For Pak, A Word Of Advice

India has welcomed the decision taken by the Financial Action Task Force or FATF, a global anti-money laundering body, to put Pakistan on the terror watch list. Pakistan, which was assessed as having...

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Malaysia Open Live: Kento Momota Wins The First Game vs Kidambi Srikanth

Malaysia Open 2018 Live, Kidambi Srikanth vs Kento Momota Badminton Score, Semi Final Match: Srikanth is trying to recapture the silken form that gave him a bunch of titles around same time last year.

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60 Seconds Before Crash In Mumbai, Pilots Contacted Airport For Landing

The plane had completed its test flight and it seemed to have done fine. The pilots had flown the 26-year-old aircraft to Surat and were just moments away from landing at Mumbai's Juhu airstrip.

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Read Alia Bhatt's Review Of Ranbir Kapoor In Sanju

Alia Bhatt was spotted attending the screening of the film with Ranbir Kapoor on Thursday

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Opinion: BJP Chief's Lies About Mamata Banerjee During Bengal Yatra

A certain party president is in the midst of a much-publicised yatra to West Bengal, lecturing the rest of us heathens on Tagore's message of love and peace.

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Woman, Her Daughter Accused Of Sexually Abusing Boy, 17, In Himachal

A Nepalese woman and her daughter have been charged with sexually assaulting a 17-year-old boy for over three months in Himachal Pradesh's Solan district, police said.

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Till Trump do us part: Future tense for India's H-1B spouses

Wipro may have dropped Donald Trump from its list of risk factors, but for Indian IT professionals and their spouses in the US, the President’s policies remain a big threat. With Trump moving to tighten work visa rules, including to rescind the H4 employment authorisation that allows spouses of H-1B visa holders to work in the US, many of them are moving back to India, or staring at the possibility of that.Recruitment firms say in the past one year they have seen a 100% jump in the CVs they were getting from Indian IT professionals working in the US and their spouses. They even have added a new profile of job seekers — spouses of Indian IT professionals, according to firms like TeamLease, Randstad, Adecco, ManpowerGroup and ABC Consultants.For many those who may be forced to leave the US, the situation is more complicated than just finding a job elsewhere. An IT professional, who lives with his techie wife in Atlanta, said he had been in the US for over 10 years now on an H-1B visa. While the couple remain Indian citizens, their children were born in the US and are American citizens. “We fear we may never get our Green Cards and what happens if we lose our jobs? Our children are born US citizens, but we will have to leave the country,” said the techie who was unwilling to be named.Another software expert, who moved from Kerala to Canada and later got a job in the US under the NAFTA professional visa programme that allows citizens of Canada and Mexico to work in the US, is now looking for options. His worry is about Trump’s threat of withdrawing from NAFTA (North American Free Trade Agreement). “I have been in the US for three years but if NAFTA is revoked, I will lose my visa. While I can go back to Canada, job market opportunities in the US are better,” he said, also speaking on condition of anonymity.While this IT expert could go back to Canada, for most, the only option is to return home. And, they are scanning the opportunities here.“We received approximately 1,000 CVs from the beginning of this year, which is roughly double of what we saw last year for the same period,” said Paul Dupuis, managing director of Randstad India.In fact, India’s IT companies have also been flagging the risk of the changing visa policies in the US. In fiscal 2017, Wipro had explicitly named Trump as a risk to the business. In its latest annual report filed with the US regulators, however, the Bengalurubased company didn’t name him as a risk but highlighted the threats from the global political environment.Till last year, there was hardly any flow of job seeking Indians from the US, said Mayank Patel, director of permanent placement and professional staffing at Adecco Group India. “Last year, only those Indians were returning who had some personal emergency but this year, the number of CVs has definitely seen a 2x and 3x growth.”Canada and Mexico remain the first preferences for Indian IT talent and their spouses who are currently facing US visa curbs, followed by India. “With IT majors setting up operations in Mexico and Canada, many Indian IT professionals want to park themselves here,” said Manmeet Singh, president of Experis that handles the IT sector at ManpowerGroup India.Almost half the applications for IT jobs at Manpower-Group is coming from H-1B visa holders, unlike a year ago when only 20% was from this cluster. “The bigger threat to the stability of the Indian techie diaspora is the revocation of the working status for those on H4 dependent visas,” Dupuis of Randstad India said. According to him, this could affect about 70,000 families working in the US, many of whom might be forced to repatriate themselves to India.ManpowerGroup and Team-Lease also confirm over 70,000 families were being impacted in the short run due to changes in US’ visa regime.Some IT professionals are choosing to stay on in US. However, their spouses who are on H4 permits are in the process of relocating, recruiters said. In addition to H4 visa holders, Indian IT professionals with less than six years of experience are also hunting for job back home, as well as in countries like Sweden and Poland apart from Mexico and Canada.ABC Consultants has seen an about 50% jump in CVs from Indian IT professionals in the US with work experience of 2-6 years. “At least 5 lakh Indians have been impacted by the US visa restrictions,” ABC Consultants director Ratna Gupta said, adding that many of them were looking for other visas like EB5, L1A, or choosing other countries. “Quite a few are exploring India-based opportunities.”Rituparna Chakraborty, cofounder of TeamLease Services, said those who moved to the US in the last three-four years were vulnerable and were on their way back to India, apart from H4 holders.H-1B visas are issued for three years, and an extension for three years was almost a given. But the process of extension has now become difficult. The new rules imply one may not even now get the initial full three years. The shorter durations may even make transition from H-1B to a Green Card next to impossible.Based on H-1B visa data obtained from the US Citizenship and immigration Services, Tata Consultancy Services received 2,312 H-1B visas in 2017, about half the number in 2015. Infosys saw a 57% drop and Wipro 60% in visa allotments in the same period, with only Tech Mahindra among the top seven India-based IT companies witnessing an increase in the number.

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Why Modi govt should be sending LIC a big thank you note for its IDBI rescue act

India’s insurance regulator on Friday gave an unprecedented go-ahead to the Life Insurance Corporation of India’s proposal to take over IDBI Bank and rescue it from a crippling crisis caused by massive rise in bad loans. The board of Insurance Regulatory and Development Authority of India (Irdai), which met in Hyderabad on Friday, okayed LIC’s investment proposal as a special case due to IDBI Bank’s precarious financial position. The Mumbai-based lender has the highest bad loans in the industry at nearly 28% of total advances and posted aloss of Rs 5,663 crore last year. IDBI Bank’s shares jumped on the news and the impending capital infusion, which may be worth more than Rs 9,000 crore in one or more tranches. This will provide a breather to the bank and give it the means to address some of its biggest problems. “The Irdai board on Friday allowed LIC to buy out 51% stake in IDBI Bank,” said a member of the board who did not want to be identified. “LIC will have to sell it in the future and bring it down to the regulatory requirement of 15%.” This could mean LIC would have to start cutting its stake from 51% in the next few years and bring it on par with norms for other insurers. This is the first time that the insurance regulator has eased its investment rules to such an extent. The Insurance Regulatory and Development Authority (Investment) (Fifth Amendment) Regulations, 2013 allows insurers with assets of over Rs 2.5 lakh crore to buy up to 15% equity in a company.Under special provisions, LIC can hold up to 30% with the approval of the government, investment committee and the regulator. The proposal also goes against LIC’s own investment mandates, which prevents it from taking over any business. The fact that it went through could be due to IDBI Bank’s desperate financial situation and the government’s desire to make LIC provide funds so that it doesn’t have to do so. With LIC coughing up the money, the government has one less bank to deal with whenever it considers capital allocation for public sector banks. Irdai’s okay also caps weeks of intense negotiations between the government, LIC and Irdai. While the government was keen on LIC playing a big role, officials at the insurer and the regulator kept mum on the issue. Some officials also gave an indication that the proposal would not be kosher as IDBI Bank is under the RBI’s prompt and corrective action (PCA) rules and therefore may not be a viable investment proposal for LIC. Banks under PCA are barred from lending though they can continue accepting deposits. Under normal circumstances, LIC would have found it difficult to invest in IDBI Bank. The proposal was also not on the agenda of Irdai as it was a routine quarterly board meeting fixed weeks earlier. But it was a tabled matter which meant that the board members had to discuss it. The deal may have to climb another regulatory hurdle at the Reserve Bank of India. “We will have to see what RBI does and whether RBI will allow them to hold on to their stake in other banks,” said Ashvin Parekh managing partner Ashvin Parekh Advisory Services. “The government may want LIC to buy stake in more PSBs.” LIC, which owns 10.82% stake in IDBI Bank will be allowed to buy an additional 40% by investing Rs 9,000 crore in the bank. IDBI Bank has a market cap of Rs 22,954 crore. 64801351 Shares of the company jumped 10.02% on news of LIC taking over the majority shareholding in the bank. IDBI Bank with the highest non-performing loans in the banking industry— gross NPA at 27.95% of the total advances, as on March 31, 2018 and core equity capital of 7.42% — has been seeking capital from the government. During the last financial year, government and LIC infused equity capital of Rs 12,471 crore and Rs 394 crore, respectively in the Bank. IDBI Bank is also in the process of selling non-core assets to free up capital and meet regulatory capital norms. The bank had posted a loss of Rs 5,663 crore in the fourth quarter on higher provisions. It has put the life insurance subsidiary with Aegis and Federal Bank on block a year ago though the deal is still under works. “If this deal goes through, LIC will increase its stake to 51% from 11% in IDBI while the government’s stake will proportionately come down to around 40% from 70%,” said Asutosh Mishra, senior analyst at Reliance Securities. “This could be a precursor for the privatisation of IDBI Bank because it is the only PSU which is outside an Act of Parliament. SBI is governed by SBI Act, other PSU banks by Bank Nationalisation Act and other banks by Companies Act.”

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ICICI's new crisis manager is patient listener, but his own man in making decisions

Girish Chandra Chaturvedi, the new non-executive chairman of ICICI Bank, brings with him rich experience in general administration and the financial sector, with sensitive assignments including Joint Secretary, banking and insurance, and additional secretary for financial services — positions that placed him on the boards of LIC and state-run several banks.Chaturvedi, a physics graduate who holds an M.Sc in economics from the London School of Economics, joined the Indian Administrative Service in 1977 and was allotted the Uttar Pradesh cadre along with his batch-mate Cabinet Secretary PK Sinha. He has undertaken key reforms before retiring as India’s petroleum secretary in January 2013 and gathered valuable experience in handling sensitive investigations such as the CAG audit and probes by various agencies into the affairs of the Commonwealth Games.As petroleum secretary, he adopted a liberal approach and was actively involved in setting in motion the process of gradually increasing diesel rates every month until they reached market levels and could be decontrolled. He had also proposed reforms in the pricing of natural gas and was involved in building India’s strategic petroleum reserves.Officials and executives who have worked with him recall Chaturvedi as an upright man, who patiently listens to all sides without being very assertive, but takes his own decision fairly.“He’s a man of integrity. He would harbour no bias, not get influenced by any pressure group. Everyone would have good things to say about him. He’s a very patient listener,” said RS Sharma who was chairman and managing director of ONGC when Chaturvedi was petroleum secretary.Chaturvedi left a similar impression in the financial world, recalls SB Mathur, former chairman of LIC. “He is a simple person, upright with good administrative skills. He is very knowledgeable, simple, down to earth person,” Mathur said.Chaturvedi comes to ICICI bank as non-executive chairman and independent director soon after Sandeep Bakhshi was made chief operating officer as chief executive Chanda Kochhar went on leave because of a probe into an alleged conflict of interest.Bakhshi and Chaturvedi have known each other for long and said to have the bandwidth and rapport needed to steer the bank out of the situation it faces. Bakhshi --who headed ICICI Lombard General Insurance when Chaturvedi was in the finance ministry – probably had a role in bringing the former bureaucrat as chairman, sources said.Chaturvedi recognises the challenges that his new job brings, but he is optimistic about ICICI Bank dealing with its problems and moving on. “I don't subscribe to this that it's (ICICI Bank) in a mess. Incidents keep happening, but basically we have to learn lessons from them, we have to rectify, and move ahead. I think we will be able to do that,” he told ET Now.He has dealt with challenging situations such as the Commonwealth Games, which faced many allegations and media scrutiny.He was Special Director General (Finance & Accounts) in the Commonwealth Games 2010. In this capacity he facilitated probes by the Central Vigilance Commission, Enforcement Directorate, Central Bureau of Investigation and Income Tax authorities.His administrative experience includes sought-after positions such as CEO of Greater Noida, commissioner of Lucknow, and stints as collector of Saharanpur, Meerut and Muzaffarnagar. He has also been the chairman of the Warehousing Development and Regulatory Authority.In the finance ministry he was involved in drafting the Insurance Act Amendment Bill to facilitate level playing field for the private sector and proposing increase in foreign equity limits to 49% from 26% in the insurance sector. Chaturvedi was also actively involved in amalgamation of more than 100 regional rural banks to make them viable.“He encouraged new companies and contributed a lot to the growth of insurance industry,” said G Srinivasan, chairman, New India Assurance.He has been the government’s nominee as director on the Boards of LIC of India, GIC of India, Canara Bank, Bank of Baroda, IDBI Bank, IDFC, New India Assurance Company, United India Insurance Company, Agriculture Insurance Co. of India Ltd, Institute of Banking Personnel Selection and National Insurance Academy Pune.

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US says it will detain migrant children with parents

WASHINGTON: The U.S. government said in a court filing on Friday that it has the right to detain children and parents caught crossing the U.S. border illegally for the duration of their immigration proceedings.A 1997 court settlement known as the Flores agreement has generally been interpreted to require the Department of Homeland Security to release illegal immigrant children from custody after 20 days.But Justice Department lawyers said in the filing in U.S. District Court in California on Friday that they now have no choice but to hold children for as long as it takes to resolve their immigration cases, because of a preliminary injunction issued on Tuesday in a separate immigration case.That case, brought by the American Civil Liberties Union in San Diego, challenged the recent government policy of separating families in order to detain parents for as long as necessary under President Donald Trump's "zero-tolerance" policy.Since that policy was implemented in May, families have been routinely separated after apprehension. Some 2,000 separated children are currently under government care.An executive order issued by Trump this month reversed the policy, and the subsequent injunction in San Diego ordered the government to immediately stop separating parents and children and said families must be reunited in 30 days or less. To comply with the injunction, the government said Friday it "will not separate families but detain families together during the pendency of immigration proceedings." Cases can sometimes take months or years to resolve.Under previous administrations, parents and children were often released to pursue immigration claims at liberty in the United States. Trump has decried that so-called catch-and-release policy, and vowed to detain immigration violators.

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Thyssenkrupp AG, Tata Steel finalise European steel joint venture

KOLKATA: The executive board and the supervisory board of Germany's Thyssenkrupp AG have adopted resolutions that paves the way for signing of a definitive agreement to create a 50/50 joint venture, that will combine the European steel businesses of Thyssenkrupp and Tata Steel. The decision follows the signing of a Memorandum of Understanding between the two in September 2017. In a statement issued late night on Friday, Thyssenkrupp said due diligence and independent expert opinions have confirmed the economic viability of the new company and the expected annual recurring synergies of €400 to 500 million. "The joint venture with Tata Steel is an important milestone for the transformation of Thyssenkrupp to an industrials and service group and will lead to a significant improvement of the financial figures of Thyssenkrupp, effective with closing," the statement said. However, in case of an Initial Public Offering (IPO) of the joint venture Thyssenkrupp will receive a higher share of the proceeds, reflecting an economic ratio of 55:45, it added.The signing of the definitive agreement is expected shortly. The transaction is subject to merger control clearance in several jurisdictions, including the European Union.The deal initially faced opposition from Thyssenkrupp workers union which questioned the move. Workers representatives on the board and having a significant say in the companys affairs. The final hurdle was crossed after the powerful unions gave their nod to the proposed agreement. Earlier this month, in the run up to the final agreement between the two partners, investment management firms like, Elliot Management Corp raised the issue of valuation adding that in recent months the European steel business of Tata Steel did not perform as well as Thyssenkrupp and hence questioned whether it should get equal stake in the propsed JV.Thyssenkrupp’s second-largest shareholder Cevian Capital also had similar views on the joint venture with Tata. This is believed to have prompted the two prospective partners to get back to the table and thrash out a compromise that would include a compensation for Thyssenkrupp.

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Reliance Industries to acquire telecom solutions provider Radisys Corporation

MUMBAI: Reliance Industries (RIL) Saturday it will acquire Nasdaq-listed telecom solutions provider Radisys Corporation for $1.72 per share in cash."This acquisition further accelerates (Reliance) Jio’s global innovation and technology leadership in the areas of 5G, IOT and open source architecture adoption," Akash Ambani, director of Reliance Jio, said in a joint statement.RIL will fund the acquisition through its internal accruals. The deal is expected to close in the fourth quarter of 2018, subject to regulatory approvals.US-headquartered Radisys Corp. has nearly 600 employees with an engineering team based out of Bangalore, India, and sales and support offices globally. It works with service providers and telecom equipment vendors by providing open-centric software, hardware and service capabilities that enable the migration to next-generation network topologies."The backing and support of India-based global conglomerate Reliance, will accelerate our strategy and the scale required by our customers to further deploy our full suite of products and services," Brian Bronson, CEO of Radisys, said in the statement.The Mukesh Ambani-owned company, involved in a bitter fight with market leader Bharti Airtel, Vodafone India and Idea Cellular for subscribers, has made acquisitions to expand its technology and content segments.Two months ago, RIL signed a pact to merge a music app with its own digital music service JioMusic in a cash-and-stock deal to create a $1 billion entity in which the Mukesh Ambani-owned company will have a stake of more than 75%.The parents company has also been raising money to fuel its expansion plans.

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Crude oil market tightens more, prices have upsides

By Pritam Kumar PatnaikCrude oil prices continued to move higher this week. The price action for ICE Brent August futures saw a movement from a low of $73.74 a barrel to high of $78.42 a barrel during the week. Similarly, NYMEX Crude August futures saw a movement from a low of $67.72 a barrel to high of $74.03 a barrel for the week.Prices started on the backfoot as investors prepared for an extra 1 million barrels per day (bpd) of oil to hit markets after Opec agreed to raise production and as US equity markets slipped on trade war fears.However, after the initial weakness, crude prices started recovering and by the end of the week, they ended with solid gains.So why did the rally happen? Traders bought oil as they feared Washington’s policy of stopping allies from purchasing Iranian crude would constrain global supplies.Reuters reported that the US has told countries to cut all imports of Iranian oil from November and is unlikely to offer any exemptions, as the Trump administration ramps up pressure on allies to cut off funding to Iran.In May, US President Donald Trump said his administration was withdrawing from the ‘defective’ nuclear deal agreed between Iran and six world powers in July 2015, aimed at curbing Tehran's nuclear capabilities in exchange for the lifting of some sanctions, and ordered the re-imposition of US sanctions against Tehran that were suspended under the accord.Iran’s seaborne crude exports fell to about 1.93 million bpd in June from 2.38 million bpd in May and 2.58 million bpd in April, based on Thomson Reuters data.The US official specifically cited India and China as countries that would have to stop accepting Iranian imports, though officials have not yet spoken with those countries.India imports large quantities of oil from Iran, though the country has suggested it would comply with Washington; Beijing, meanwhile, has not committed to an agreement to stop buying Iranian oil, and rising trade tensions with the US may make such an agreement less likely.Oil also rallied this on the back of disruptions from Canada and Libya. Disruptions from Canada could affect the supply of crude throughout July after the outage at Syncrude Canada’s 360,000 bpd oil sands facility near Fort McMurray, Alberta. A spokeswoman confirmed will remain offline through July.In addition, a power struggle among the two parallel Libyan national oil companies created uncertainty on the country's export ability.The announcement for transferring operations of eastern ports to NOC in Benghazi follows military action by the eastern Libyan National Army (LNA) under the command of Khalifa Haftar to retake Ras Lanuf and Es Sider ports, which are also in the east and remain closed.Those two closures have disrupted oil flows amounting to about 450,000 barrels per day (bpd), cutting by about half Libya's total output of about 1 million bpd earlier this year.Oil prices were also supported after data from Energy Information Administration showed that US commercial crude oil inventories dropped by almost 10 million barrels in the week to June 22, to 416.64 million barrels. The draw in US inventories was also due to high exports of almost 3 million bpd, coupled with domestic refinery activity hitting a utilisation rate of 97.5 per cent, the highest in more than a decade.Looking ahead, prices could continue to see more upside move in the next week or so supported by unplanned supply disruptions from Canada to Libya and Venezuela. Additionally, Iran problem may not fade away quickly and could continue to support prices.However, not all indicators point toward an ever-tightening market. US crude production is approaching 11 million barrels per day (bpd), and Saudi Arabia and Russia are expected to match that in coming months as well.At the same time, oil prices could be influenced by weak global factors after investors may be worried that trade friction between the United States and other major economies could escalate and could prompt investors to exit aggressive positions in high risk assets like crude.This was reinforced by CFTC data for last which showed that hedge funds and other money managers cut their net long US crude futures and options positions in the week to June 19. The speculator group cut its combined futures and options position in New York and London by 9,344 contracts to 340,679 during the period.Technically, MCX Crude July contract witnessed sharp rise in last week and moved higher from Rs 4,627 to the high of Rs 5,109 till now. Since June 2016 prices have been intact in upward moving channel and as of now it has approached close towards upper channel resistance. As per this channel, resistance zone is placed at Rs 5,180-5,200 level. Hence price action near this zone will be important to watch. Weekly RSI has reached towards 70 zone and hence some profit booking can be possible in coming week. We can expect prices to trade in broader range of Rs 4,800 and Rs 5,180 levels. Volumes have been decreasing from last three sessions which has arrived at 14,0322 contracts from 17,0431 contracts. Hence, sideways action is possible in the coming days.Internationally, Brent Crude Futures, after the rally from $72.70 to $78 levels, prices are trading in overbought state and hence some sideways action is possible in coming week.We can expect prices to trade in the range of $76 and $78 for now. One can use any dips towards $76 as buying opportunity. On upside $78.80 is the important resistance to watch.(Pritam Kumar Patnaik of Reliance Commodities analyses outlook for various commodities on weekends, Views are his own)

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Mayuresh Joshi: 2 midcaps one should buy on dips

Mayuresh Joshi, Fund Manager, Angel Broking, tells ET Now that other than the couple of midcaps which can be a buy on dips in a staggered manner, ICICI Bank on any significant decline remains on his conviction list.Edited excerpts:Do you believe that yellow weeds are emerging when it comes to banks or is it a space best avoided, barring HDFC Bank? If you divide this space into three parts --. the retail private banks, the corporate facing private banks and the public sector banks, straightaway you see the underperformance of PSU banks in relation to asset quality and how elevated provisioning and credit costs are taking a hit on their balance sheet. Those concerns continue. Though a pickup has been witnessed in credit growth in the past few weeks, how much the PSU banks can take advantage of an improving cycle is to be seen. For large retail private sector banks, the growth has been stupendous over the last few quarters. The retail advances are still growing at a very fast clip and coupled with the strong capital adequacy that they possess, the earnings momentum should remain strong. Again, valuations probably are on extreme ends for large retail private banks with price to book or price to adjusted book at elevated levels or a premium to their historic mean. PSU banks are probably languishing but the trade still goes with selective large private retail banks. The advances growth should prop up the earnings for banks like an HDFC Bank or an IndusInd Bank. So, we remain very optimistic on these banks. As for corporate facing private banks, the pain that they have gone through in terms of the corporate book the SME and the MSME stress which is largely related to a huge watchlist, the drill down of that watchlist along with provisioning for NCLT cases and the growth in retail advances should hold them in good stead. What you are probably seeing in terms of the regulatory moves towards ICICI Bank and changes in the management for Axis Bank, they might have some intermittent effects for these banks. The long-term story in terms of return ratios probably remains very strong. ICICI Bank on any significant decline remains on our conviction list. What would be the key factor that the street is going to look out for next week? Apart from what you are probably looking out for in terms of IPO listings, the global factor is still at play. So what happens in terms of tariff movement is going to be extremely critical. Second, apart from the near term factors, the earnings outlook for Q1 is going to be extremely critical for the Indian markets at large and the third element obviously from a macro perspective is going to be where crude probably moves and how the rupee is probably moving .The consensus is with the emerging market currencies depreciating against the dollar. I think a) it is more to do with safeguarding their own trade related issues because of the tariff impositions and to that end, some safeguarding measures are taken. b) The second element concerns how the central banks will take follow up action whether it is the ECB or any commentaries out of the Japanese Central Bank. There are a lot of moving parts over the next few weeks and so the volatility for Indian markets might very well continue. I do not know if you have been a buyer in the midcap carnage, but anything that is giving a buy signal out loud? From the broader universe, music broadcast is something that I will continue to like. The old stations probably have broken even on the EBITDA front much faster than one anticipated, in 15 odd months. The new stations obviously are also going to have a lot of say in terms of the fixed cost absorptions and the old stations probably are seeing better yields in terms of both ad volumes going up and realisations improving. At the same time, Aditya Birla Capital has corrected significantly. In my opinion, financialisation of savings, the NBFC, AUM growing at a very fast clip, the VNB margins of insurance business turning positive, housing finance probably having a strong growth trajectory along with strong NIMs and the equity AUMs on the asset management side of the business are holding up. Within the midcap cement space, JK Lakshmi Cement is a buy on any decline. It already has seen a sharp correction, a significant 10% to 12% improvement is seen in volumes. Over the next two-two and a half years, revenues will probably improve in terms of their cost optimisation programme for their Durg facility. Both the conveyor belt and the other cost saving programmes should abet their EBITDA per tonne. At $82 on an EV to tonne basis, it looks very very attractive. On any significant decline, these stocks within the midcap universe can be a buy in a staggered manner.

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