Jindal Stainless Group aims 15-20pc jump in topline in FY19

KOLKATA: The Jindal Stainless Group -- Jindal Stainless Ltd and Jindal Stainless (Hisar) Ltd -- is aiming at a 15-20 per cent jump in topline in the 2018-19 fiscal, betting big on higher value-added product mix."Stainless steel demand in India is growing at 9-10 per cent, while our growth is expected to be at 12-13 per cent. But, due to higher value-added product mix, our revenue is likely to jump by 15-20 per cent," Jindal Stainless Group Sales Head Vijay Sharma said today.The Group's turnover during the last fiscal was around Rs 20,000 crore from sales of 1.4 million tonnes of steel products.It is foraying into stainless long-products to deepen its portfolio over the next 18 months for an annual capacity of about 50,000 tonnes a year, company officials said."Long products constitute about 20 per cent of total demand, so it is natural to expand. It is being implemented at Jindal Stainless (Hisar)," Sharma said.Jindal Stainless is also installing additional two lakh tonnes per annum capacity, which would expand the Group's capacity of cold-rolled products, currently at 0.6 million tonnes.He said the Jindal Stainless Group sees the automotive sector and the railways, which are expected to see a sharp rise in demand, as growth drivers."Railways is expected to increase stainless steel coaches to 5,000 units a year by 2020 from 2,500 coaches procured in 2017-18. In the infrastructure sector, there is scope for good demand," Sharma said.In the automotive sector, there is an overall rise in demand of stainless steel and by 2020, when Bharat-VI norms are implemented, consumption of stainless will jump by 30-35 per cent, he said.Meanwhile, the company said the combined short and long-term debt is about Rs 7,400 crore (Jindal Stainless Ltd Rs 4,600 crore and Jindal Stainless (Hisar) Limited Rs 2,800 crore)."We have met all the requirements for exiting the CDR (Corporate Debt Restructuring). The banks are also in agreement with us, and we have applied for the exit. We are awaiting response from the CDR cell now," Sharma said.

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BlackBerry KEY2 LE With Snapdragon 636 SoC, 3,000mAh Battery Launched

BlackBerry KEY2 LE has been launched - let's get into the pricing, availability, and specifications.

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GDP gallops to 8.2%, India off to a rousing start in Q1 of FY 19

India's economy grew at an impressive 8.2 per cent in the first quarter of 2018-19 financial year ending June 30 on the back of a strong core performance and a healthy base .This jump ahead of national elections next year would help bolster the government amid a debate over its economic record versus that of its predecessor following the release of back-series data recently. This will also be factored in by the monetary policy committee at its next review scheduled for October 3-5. The Indian government changed the base year for GDP calculation from 2004-05 to 2011-12, by changing the goods and services in the basket to make it more current, in 2015.Key HighlightsThis is the highest growth in two years and strongest since the first quarter of 2016. Sectors which registerd growth of over 7 per cent include ‘manufacturing, ‘electricity, gas, water supply & other utility services’ ‘construction’ and ‘public administration, defence and other services’.The growth in the ‘agriculture, forestry and fishing’, ‘mining and quarrying’, ‘Trade, hotels, transport, communication and services related to broadcasting’ and financial, real estate and professional services is estimated to be 5.3 percent, 0.1 percent, 6.7 percent, and 6.5 percent respectively during this period.GDP at current prices in Q1 of 2018-19 is estimated at Rs 44.33 lakh crore, as against Rs 38.97 lakh crore in Q1 of 2017-18, showing a growth rate of 13.8 percent. 65624890 The official figures are much better than the expectations of economists who have predicted about 7.5-7.6 per cent Q1 growth. The world’s second largest economy, China, reported a 6.7 per cent growth for June quarter compared with 6.8 per cent in March quarter. India's $2.6 trillion economy surpassed France's in 2017 to be the world's sixth largest, and it was not far before the United Kingdom, according to World Bank data.However despite the strong Q1 numbers, there is apprehension about the economy slowing down in the coming times. Sameer Narang, chief economist at Bank of Baroda, told Reuters that the economic growth could cool to about 7.2 percent in October-March. #GDPData | Q1FY19 GDP growth at 8.2% vs 5.6% YoY (vs 7.7% QoQ) #BREAKING https://t.co/EHIhILUPO2— ET NOW (@ETNOWlive) 1535717007000 The Reserve Bank of India has raised its benchmark repo rate by a total of 50 basis points at its past two meetings, to 6.5 percent, to tame inflation that has remained above its medium-term target of 4 percent for the last nine months.In July, retail inflation eased to 4.17 percent from a year earlier, but is projected to remain around 4.8 percent in the second half of the fiscal year.The rupee has weakened nearly 10 percent against the dollar this year, touching a record low of 71 to the dollar today, and is the worst performing currency in Asia.Credit ratings agency Moody's has warned about rising pressure of higher oil prices and interest rates on government finances and India's current account.Earlier today, government data showed a fiscal deficit of Rs 5.40 lakh crore for April-July, or 86.5 percent of the budgeted target for the current fiscal year compared with 92.4 percent a year earlier. Meanwhile, core sectors' growth have slowed down a bit in the month of July. 65623100 65624314

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RBI employees to go ahead with mass casual leave

KOLKATA: Reserve Bank of India employees have rejected Governor Urjit Patel's request to withdraw their two-day mass leave programme, arguing they are left with no choice but to intensify their agitation to fight for the long pending pension issues.The employees have called for mass leave on September 4 and 5 under the banner of the United Forum of Reserve Bank Officers and Employees.The employees of the central bank are demanding pension updation for about 21,000 retirees and one more chance to switch from Contributory Provident Fund (CPF) to pension for 2600 CPF retainersGovernor Patel as well as past governors supported their plea, but successive governments turned a blind eye.What has really angered the employees is the fact that the ministry of finance had revised pension for nearly 55 lakh central government employees and has recently updated pension for professors and non-teaching staff of UGC sponsored universities.“The governor requested us to reconsider the agitation programme as it would hamper the prestige of RBI when the international financial situation is in turmoil and the Indian economy is facing challenges. But we have no alternative but to intensify the agitation as the pension issue has been lingering for over a decade,” Samir Ghosh, general secretary of All India Reserve Bank Employees Association, told ET.“Our agitation was not against the governor or the central board or the bank management, but against the bureaucracy which has refused to see reason and created a situation of extreme turmoil in RBI,” Ghosh explained.Patel, in fact, wrote to the ministry in October last year recommending one more option to CPF retainers and improvement of pension.The association members also credited the governor for his efforts in improving medical benefits in the form of group insurance for OPD treatment for pensioners."RBI governors, past and present, had taken up the issue with the government but the finance ministry every time turned down our demand which is most unjustified," they said.

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विराट ने तोड़ा सचिन तेंदुलकर का एक और रिकॉर्ड, इतनी पारियों में पूरे किए 6000 रन

टीम इंडिया के कप्तान विराट कोहली ने टेस्ट क्रिकेट में अपने 6000 रन पूरे कर लिए हैं।

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Asian Games Women's Hockey Final Live: India Face Stern Japan Test

Live updates of India vs Japan Women's Hockey Final Match, Asian Games 2018: A confident India women's hockey team will be vying to win the gold

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Motorola One Power With Snapdragon 636 SoC Coming to India in October

Lenovo-owned Motorola has unveiled its latest Motorola One and Motorola One Power smartphones with Android One at IFA 2018 in Berlin.

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विकास दर में आई बड़ी उछाल, चालू वित्त वर्ष की पहली तिमाही में 8 फीसदी के पार

देश की अर्थव्यस्था में तेजी से उछाल आया है। इस वित्त वर्ष की पहली तिमाही में विकास 8.2 फीसदी दर्ज की गई है।

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India's core industries' growth slows down in July

The growth of eight core industries slowed down to 6.6 per cent in July against 7.6 per cent the previous month. However year-on-year, the figures are much better. The eight core sector -- coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity -- had registered a growth of 2.9 per cent in July last year.The eight infrastructure sectors of coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity, constitute 40.27 per cent of the total industrial production. The coal sector saw a huge decline to 9.7 per cent from 11.5 per cent a month ago.Crude oil output was minus 5.4 per cent against minus 3.4 per cent in June.The Natural Gas production (weight: 6.88per cent) declined by 5.2 per cent in July.July refinery products at 12.3% vs 12.1% in June. Electricity output also dropped significantly to 4.8 per cent vs 8.4 per cent growth in the previous month.Steel sector saw better output with data showing growth of 6 per cent vs 3.4 per cent in the month of June 2018.The cement sector saw a growth of 10.8 per cent against 13,2 per cent in June.A marginal increase was wittnessed in fertilizer sector that saw growth of 1.3% vs 1% in June.During the April-July period of the current fiscal, these 8 sectors grew by 5.8 per cent as against 2.6 per cent in the year-ago period.

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GDP Growth At 8.2% In April-June

The April-June GDP growth data was also in line with the central bank projections for the current year.

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Virat Kohli Dethrones Virender Sehwag In This Test Batting Record

Virat Kohli has been in great batting form during the Test series with England.

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LIVE: थोड़ी देर में पीएम मोदी करेंगे पशुपतिनाथ मंदिर में पूजा, महत्व पर कही कई बातें

थोड़ी देर बाद पीएम मोदी पशुपतिनाथ मंदिर में पूजा करने वाले हैं।

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मनोवैज्ञानिक दबाव की रणनीति को कश्मीर में अंजाम देने में जुटे आतंकी

जम्मू-कश्मीर में पिछले दिनों सुरक्षाबलों ने जिस अंदाज में दहशतगर्दों पर चौतरफा शिकंजा कसना शुरू किया उससे घबराए आतंकियों ने सुरक्षाबलों के परिवार वालों का बड़ी संख्या में अपहरण कर मनोवैज्ञानिक दबाव बनाने की कोशिश की है।  

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बैंकों में एक ही जगह 3 साल से कार्यरत कर्मचारियों का हो तबादला, सीवीसी ने दिया आदेश

केंद्रीय सतर्कता आयोग (सीवीसी) ने फर्जीवाड़ों पर लगाम के लिए सभी बैंकों, बीमा कंपनियों तथा केंद्र सरकार के विभागों को निर्देश दिया है कि वे संवेदनशील पदों पर काम कर रहे कर्मियों का नियमित समयांतराल पर स्थानांतरण करते रहें।

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चिदंबरम की बढ़ सकती है परेशानी, एयरसेल-मैक्सिस मनी लांड्रिंग मामले में फिर पूछताछ

इससे पहले, उनसे 24 अगस्त को करीब छह घंटे तक पूछताछ की गई थी।

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Vedanta Resources says Srinivasan Venkatakrishnan commences as CEO

Srinivasan Venkatakrishna commenced as the CEO of Anil Agarwal-led Vedanta Resources plc today, replacing interim CEO Kuldip Kaura. The mining mogul-led company announced the appointment of Venkatakrishna in April. Venkatakrishnan, 53, worked as the CEO of Johannesburg-based AngloGold for five years and spent much of his career working in Africa. This is a first for a Vedanta CEO and points to the growing importance of the group’s investments on the continent, where its assets include Zambian copper and South African zinc.Between 2005 and 2013, he was AngloGold Ashanti's Chief Financial Officer and prior to this, he was CFO of London-listed Ashanti Goldfields Ltd. Vedanta had in August last year appointed an interim chief executive, Kaura, to replace Tom Albanese. Albanese, a former chief executive of rival Rio Tinto, returned to the US after his three-year contract, which was extended by five months, expired at the end of August. Kaura was made interim CEO from September 1 but he did not serve as a director on the board.

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Airlines asked to pay Rs 35 lakh as compensation for deboarding three of family

CHANDIGARH: The Punjab State Consumer Disputes Redressal Commission here has ordered two airlines to jointly pay a compensation of Rs 35 lakh to a woman and her two minor children for the "mental agony, tension, harassment" suffered by them after being asked to deboard a Toronto-bound flight at Delhi airport last year.Minali Mittal along with her two children--11 year old daughter and 3-year old son -- was travelling to Toronto in September, 2017. They boarded a Jet Airways flight from the Chandigarh International Airport at Mohali to Delhi for onward journey to Canada.In her petition, Minali submitted that having boarded the Air Canada flight in Delhi her daughter Teesha Mittal had to use the washroom and finding it locked, she kept on waiting at its door.It was alleged that the "washroom was emitting a foul smell," as a result of which Teesha suffered from nausea and vomited at the door of the washroom.Commission president Justice Paramjeet Singh Dhaliwal and member Kiran Sibal in their July 23 order directed the two airlines "to pay lump sum compensation for the mental agony, tension, harassment, misbehaviour, humiliation and hardships suffered by the complainants at the hands of crew staff of opposite parties (the airlines).."The parties directed to pay compensation are Jet Airways and Air Canada."Crew staff of Air Canada screamed at minor complainant and wrongly termed it as sickness of complainant No.2 (Teesha), minor, and on that grounds they misbehaved and forced the complainants (mother and her two children) to deboard the plane, taking the plea of safety of other passengers," the Commission said in its order."The act of opposite parties No 4-6 (Air Canada) in deboarding complainants at Delhi airport without any sufficient, cogent, effective and valid reason, in the night hours on 03.09.2017... amounts to grave deficiency in service and adoption of unfair trade practice on part of all opposite parties, as Jet Airways was having Code Sharing Arrangement with Air Canada," the order said,The Code Sharing arrangement is a commercial agreement between two airlines that allows passengers to use a ticket from one airline to travel on another."In the present case, the complainants were forcibly deboarded from the aircraft on flimsy grounds and were left at the airport, without any luggage, eatables or even without a bottle of water..."Admittedly, when the complainants were deboarded at Delhi airport, their luggage was not offloaded at Delhi, rather it was taken to Toronto in the flight of Air Canada. Thus, the complainants have every right to take action against both carriers, being contracting parties, due to their illegal and forcible deboarding from the flight at New Delhi."Thus, both carriers, Jet Airways and Air Canada, are jointly and severally liable for the deficiency in service faced by the complainants," the Commission held while describing the acts of deficiency of service as also violation of the Universal Declaration of Human Rights.It also ordered the Director General of Civil Aviation, to ensure that airlines develop a consumer friendly approach.In their defence, Jet Airways contended that the complainants had suppressed and misrepresented facts, with regard to booking/purchase of tickets, and said their pleas about non-cooperation etc. are completely misplaced, while Air Canada in its separate reply, raised preliminary objections that the complainants were not its consumers, as no consideration has been paid to Air Canada.Air Canada maintained that the mother and her minor children were deplaned, as Teesha Mittal was found to be unwell and admittedly vomited within the aircraft.The airline maintained that cabin crew members deemed it fit to deplane her, along with other complainants for sake of safety of the child passenger, being a long-haul flight, as "carrying a sick passenger would have been risky for the child, in case a mid-air crisis takes place".Further, it said, airlines should also develop a policy in what circumstances a passenger can be deplaned, specifically when passenger appears to be sick, whether such sickness is of such a serious nature that he/she cannot be allowed to fly.

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Shweta On Why Palak Turned Down The Offer To Play Prerna In Kasautii 2

Not just Kasautii Zindagii Kay 2, Shweta's daughter Palak rejected several other television shows

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Talk Of Grenade Launcher, Ending "Modi-Raj" In Letters: Cops On Activists

Facing anger over the raids and arrests targeting rights activists, the Maharashtra police today claimed solid evidence including "thousands of documents" that established the activists' links to...

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Terrorists' Relatives Freed After Kashmir Police Family Kidnappings

In a move to secure the release of 11 relatives of policemen kidnapped by terrorists in south Kashmir, the Jammu and Kashmir Police have quietly released around a dozen family members of terrorists,...

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Teen Kidnapped, Forced To Drink Alcohol, Gang-Raped Near Noida, Say Cops

A 16-year-old girl was allegedly kidnapped and raped by two men in Gautam Buddh Nagar, police said on Thursday.

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Were VIP Planes Used To Carry Truckloads Of Cash Outside India? Probe On

In an investigation that has major repercussions on aviation safety, the Enforcement Directorate is probing whether chartered planes were used to ferry truckloads of cash and other illicit material in...

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अफ्रीका के गृह युद्ध ने 20 साल में ली 50 लाख बच्चों की जान

शोधकर्ताओं के अनुसार पिछले 30 वर्षों में सबसे ज्यादा और भयंकर सशस्त्र संघर्ष अफ्रीकी महाद्वीप में ही हुए हैं।

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ZTE Axon 9 Pro With Snapdragon 845 SoC Launched at IFA 2018

The price of Axon 9 Pro has been set at EUR 649, and it will go on sale this September.

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भीमा कोरेगांव हिंसा पर डीजीपी का बयान, कहा- हमारे पास पुख्ता सबूत हैं

डीजीपी ने कहा सामाजिक कार्यकर्ता माओवादियों को चिट्ठी लिखते थे। हजारो की संख्या में चिट्ठियां मिली हैं।

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Sensex Closes 45 Points Lower Ahead Of GDP Data

The major draggers on both the key indices were Yes Bank and Reliance Industries. Yes Bank dropped as much as 5 per cent.

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मोदी सरकार की कूटनीतिक सफलता, एच-1 बी वीजा पर झुका अमेरिका

एच-1 बी वीजा पर पिछले लंबे समय से जारी अटकलों को खुद अमेरिका ने विराम देने जा रहा है।

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ENGvIND Live: दूसरे दिन का खेल शुरू, मैदान पर बल्लेबाजी करने उतरे धवन-राहुल

टीम इंडिया और इंग्लैंड के बीच पांच मैचों की टेस्ट सीरीज का चौथा व निर्णायक मुकाबला साउथ हैम्पटन में खेला जा रहा है।

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iPhone XS, Apple Watch Series 4 Renders Leaked Ahead of Launch

Reports have now surfaced that give us an alleged first look at the two iPhone XS OLED models and the upcoming Apple Watch Series 4.

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India's oxytocin ban delayed by a month

NEW DELHI: In a potential setback for the health ministry, the Delhi High Court on Thursday suspended for a month its ban on private companies from making and selling oxytocin as it continues to hear cases to stop the move. The court will hear the case next on September 12, lawyers present during the proceedings on Friday told ET."This is an interim move for the court to provide enough room to hearing all the arguments in this case," said one of the persons present during the hearing on condition of anonymity.Oxytocin is a hormone drug used to induce labour in pregnant women and stall post-partum bleeding.The ban was to come into effect from Saturday and would have restricted the production and sale of oxytocin in the country to public sector manufacturer Karnataka Antibiotics and Pharmaceuticals Ltd (KAPL). The centre had announced the move in order to prevent the drug's illegal supply and misuse in cattle.The government's ban, if implemented, would impact drug makers like Mylan and Pfizer. While Mylan is one of the companies that has opposed the ban in court, ET reported on July 26 that Pfizer already stopped manufacturing the drug and was planning to exhaust its finished inventory of the product within two month's time.ET had also reported then that the impending ban had sent hospitals into a panic-buying mode. Patient activist group All India Drug Action Network has also filed a Public Interest Litigation to stop the ban, citing reasons such as KAPL not being equipped to handle the required demand of the drug.ET is awaiting responses to queries sent to Mylan and AIDAN on this development and will update this article.

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Reliance Infrastructure bags Rs 1,907-crore contract for Nagpur-Mumbai e-way package-7

Anil Ambani-led Reliance Infrastructure (RInfra) today said it has bagged a contract worth Rs 1,907 crore from the Maharashtra State Road Development Corporation (MSRDC) for package-7 of Nagpur-Mumbai Samruddhi Expressway project.The contract involves the development of package-7 from 296 km to 347 km, which is a part of Maharashtra government's flagship Rs 46,000-crore and over 700 km long Samruddhi Mahamarg project, a statement said.The scope of work includes design, engineering, procurement and construction of six-lane expressway and associated structures and project facilities.The work is expected to be completed in 30 months from the appointed date."This marquee project will add great value to our order book, which now exceeds Rs 10,000 crore in the state itself, along with other prestigious projects like the Versova-Bandra Sea Link and Mumbai Metro elevated packages," said Arun Gupta, chief executive officer - EPC, RInfra.He further said the company is keenly pursuing project opportunities worth around Rs 2 trillion to increase its EPC (engineering procurement construction) order book to Rs 50,000 crore by the current financial year.

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India's oxytocin ban delayed by a month as Delhi HC hears cases against it

NEW DELHI: In a potential setback for the health ministry, the Delhi High Court on Thursday suspended for a month its ban on private companies from making and selling oxytocin as it continues to hear cases to stop the move. The court will hear the case next on September 12, lawyers present during the proceedings on Friday told ET."This is an interim move for the court to provide enough room to hearing all the arguments in this case," said one of the persons present during the hearing on condition of anonymity.Oxytocin is a hormone drug used to induce labour in pregnant women and stall post-partum bleeding.The ban was to come into effect from Saturday and would have restricted the production and sale of oxytocin in the country to public sector manufacturer Karnataka Antibiotics and Pharmaceuticals Ltd (KAPL). The centre had announced the move in order to prevent the drug's illegal supply and misuse in cattle.The government's ban, if implemented, would impact drug makers like Mylan and Pfizer. While Mylan is one of the companies that has opposed the ban in court, ET reported on July 26 that Pfizer already stopped manufacturing the drug and was planning to exhaust its finished inventory of the product within two month's time.ET had also reported then that the impending ban had sent hospitals into a panic-buying mode. Patient activist group All India Drug Action Network has also filed a Public Interest Litigation to stop the ban, citing reasons such as KAPL not being equipped to handle the required demand of the drug.ET is awaiting responses to queries sent to Mylan and AIDAN on this development and will update this article.

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UP Gang-Rape Survivor Sets Herself, Son On Fire After Cops 'Refuse' Help

A 27-year-old gang-rape survivor who set herself and her 12-year-old son on fire yesterday died in a hospital at Uttar Pradesh's Shahjahanpur this morning. The woman was admitted to hospital with 95...

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शिवपाल यादव बोले- बेइज्जती की हद होती है, अब हम 2019 में सभी सीटों पर लड़ेंगे चुनाव

शिवपाल यादव ने कहा परिवार को जोड़ने की बहुत कोशिश की लेकिन, बेइज्जती की हद होती है। जब शिवपाल से पूछा गया कि क्या 2019 के लोकसभा चुनाव में नवगठित सेक्युलर मोर्चा सभी सीटों पर चुनाव लड़ेगा। तो शिवपाल ने कहा...

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Mi Mix 3 to Launch in October, Oppo Find X-Like Camera Slider Teased

Xiaomi has revealed the launch date and posted a teaser image of a bezel-less Mi Mix 3.

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Arunachal, Assam On Flood Alert After China Releases Water In Brahmaputra

The water discharge in the Brahmaputra basin by China last week is highest in last 50 years.

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नकवी के बाद अब राहुल पर भड़के संबित, कहा- चीन के प्यार में करते हैं ट्वीट

संबित ने कहा कि राहुल को चीन पर भरोसा है, उन्हें दोकलम विवाद में चीन के तर्क पर अधिक विश्वास है।

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महबूबा मुफ्ती का विवादित बयान, कहा- 'आतंकी और फोर्स एक दूसरे के परिवार को कर रहे प्रताड़ित'

जम्मू-कश्मीर की पूर्व मुख्यमंत्री पीडीपी अध्यक्ष महबूबा मुफ्ती ने विवादित बयान दिया है। मुफ्ती ने कहा है कि आतंकी और फोर्स एक दूसरे के परिवार को प्रताड़ित कर रहे हैं।

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India's world-beating growth not enough to end jobs drought

By Anirban Nag and Vrishti BeniwalThe world’s fastest-growing major economy isn’t growing nearly fast enough.That may seem like an absurd description for India, an economy the International Monetary Fund expects to expand 7.3 percent in the fiscal year through March 2019 and 7.5 percent in the next. Yet the reality is that even at its current pace, India is having trouble creating enough new jobs for its massive workforce or enough wealth to broaden its middle class.With its demographic tailwind and massive developmental needs, Asia’s third-biggest economy should be growing at double-digit rates. Holding India back are glacial economic reforms, a fragile banking sector, rigid labour laws and a spotty educational system that imparts limited skills to the 12 million young people who enter the job market each year.Prime Minister Narendra Modi is trying to address these challenges. He’s introduced a nationwide consumption tax, an insolvency code for companies and a program to boost domestic manufacturing under his signature Make in India campaign.Yet analysts generally agree that more needs to be done to open up the economy, attract foreign capital and generate the kind of wealth and business opportunities that has broadened the middle class in China, whose $12.2 trillion economy is more than four times as big as India’s ($2.6 trillion).“It hasn’t embraced global trade and foreign direct investments in the way China aggressively succeeded,” said Jim O’Neill, a former Goldman Sachs Asset Management chair and ex-commercial secretary to the U.K. Treasury and who coined the acronym BRIC in 2001 to describe Brazil, Russia, India and China as a group.“India has created big wealth for a limited number of people at the highest income levels, but it hasn’t created a massive pool of consumers by creating hundred of millions of middle income class,” he said. 65618220 India’s economy has averaged 7 percent growth since its reforms began in 1991 under Prime Minister P.V. Narasimha Rao. China, by contrast, expanded by an average of almost 10 percent each year since its economic opening and modernization started some 40 years ago.The latest pulse check for India’s economy comes Friday. Economists forecast gross domestic product expanded 7.6 percent in the three months through June from a year earlier.With more than 90 percent of India’s labor force employed in the nation’s informal economy, the government has struggled to produce reliable jobs data to even get an accurate read on the level of joblessness in India. A glimpse into just how dire the job market is came in March, when the government announced 90,000 vacancies at the state-run Indian Railways, the nation’s biggest civilian employer, and a staggering 28 million people applied.The rail jobs pay a minimum of Rs 216,000 per year -- a princely amount in a country where per-capita income is about $1,800, versus more than $8,800 in China.India should be enjoying a demographically powered economic dividend at this stage of its development. It’s one of the youngest countries in the world with a median age of 28, compared to China’s 37 and 47 in Japan.Yet economic gains from favourable demographics aren’t automatic. A lot depends on whether the government can harness that dividend and overcome the population’s skill shortage. And time is ticking -- in 2040 the share of the population that’s of working-age is set to start declining.According to Ejaz Ghani, a World Bank senior economist and India expert, there’s concern that India’s job challenge will remain long into its future. One worry is that India will join the global trend toward more protectionism, limiting its manufacturing and technological progress. Another challenge is that the growing use of digital technologies would create more skilled and productive jobs while displacing less-skillful and labour-intensive positions.“Growth, education, home ownership, better economic security, and a desire for more durable goods are the cause and consequence of young demographics. But demographic dividend can also transform into a curse,” he wrote earlier this year.What Our Economists Say... A massive, young, rural workforce could turbocharge growth, or torpedo political stability. China solved the problem by going from farm to factory. For India, entrenched global supply chains and domestic policy failures mean that path will be difficult to follow. Another is more accessible. India is going from the farm to services.-- Abhishek Gupta, India economist, Bloomberg EconomicsFor more, see our India InsightThe jobs void risks tarnishing the country’s image as an investment destination, stoking social unrest and posing a threat to Prime Minister Modi’s re-election bid early next year. That explains why employment creation is a top priority for Modi after he made a campaign promise to create 10 million jobs each year. As he nears the end of his five-year term, he doesn’t have any credible numbers to show that he’s met that goal.In his defence, Modi has said there are enough jobs and the data doesn’t properly reflect the job creation during his tenure. From commissioning fresh field surveys to using payroll data, he has tried multiple ways to measure employment generation in the country.However, there is also evidence that Modi’s policies have created economic setbacks.Data provided by private research firm, the Centre for Monitoring Indian Economy Pvt., show 1.5 million jobs were lost immediately after a ban on large-denominated money notes was imposed in late 2016. And last July’s chaotic introduction of a consumption tax adversely affected labour-intensive sectors like farming and construction.Those twin blows dragged India’s growth to a sub-par 6.6 percent in the financial year ended March 2018.Eswar Prasad, a professor at Cornell University and an ex-IMF official, says a sustained growth of 7-7.5 percent will lead to a healthy increase in per-capita income over time. However, there is a vast gap between China and India that needs to be bridged.“The key requirements for sustaining high growth are to develop and reform the financial system, free up labour markets, improve physical and soft infrastructure, and maintain fiscal and monetary discipline,” he says.

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India, China to drive global oil demand in years to come: IEA

Main worry is oil prices are likely to go even higher, Fatih Birol, ED, International Energy Agency, tells ET Now. It will be great if we see production increase coming 65612202 65597378 65620319 from the OPEC alliance countries, says BirolEdited excerpts: Supply chain issues seem to be hitting hard leading to a big spike in crude prices. What is your own analysis? I am not happy that my expectation that crude prices would go up, are turning out to be true because the higher prices we are experiencing today at about $77 are neither good news for the global economy, nor good news for the oil importing nations like India. But my worry is that there are many reasons why we may well see prices going up even higher. First, we expect strong oil demand growth by this year and next, to about 1.5 million barrels per day. This is very strong compared to historical averages. But on the supply side, we are seeing that there are serious challenges. Number one and the most important one is Venezuela is a major oil supplier. Venezuelan oil production in two years’ time has halved from more than 2 million barrels per day to today around 1 million barrels per day. We may see further decline in Venezuelan oil production. Secondly, in many countries in Middle East there are serious geopolitical as well as domestic problems which may hamper their export and production capacities and this is definitely not good news in addition to Venezuela on the supply side. To sum up, strong oil demand growth, serious constraint on the important suppliers’ side may well mean a further tightening of oil markets towards the end of this year. This in turn may well mean that there can be upward pressure on the oil prices. How prolonged could this rally in crude be? In the next six months or so, Venezuela suddenly and completely reversed would be rather an optimistic expectation. But later on we may well see oil coming from other countries. Even in the current period of time, it will be great if we see production increase coming from the OPEC alliance countries. This will be something which would be good news for countries like India, China and other major oil importing counties and for their economic stability. What is the thinking at the OPEC level? What production levels would they see the output at and also, is there any angle with the Saudi Aramco IPO being delayed? It is very difficult for me to know the thinking in OPEC countries. But what I would like to see is the head of the international agency talking with many governments around the world, as I had a wonderful, fruitful discussion with minister Dharmendra Pradhan here. I would like to see that the production from the OPEC countries increase especially in the next few quarters and comfort the markets, not putting further pressure on the prices. When it comes to the Saudi IPO question, this has to be discussed with the Saudi authorities but I am very much supportive of the Saudi Arabia pulling up its economy and diversifying its economic efforts. In fact, very soon, we will be coming out with a major report about the need of major oil producing countries to diversify these economies slowly but surely in order to address some of the challenges that their economies are facing today and could face more seriously in years to come. What are the key monitorables from now on? What should crude oil watchers keep an eye out for? In the oil markets, we have look very carefully at how oil demand is moving and if it moveing as strong as we expect it to. This is the pressure factor. Second, if the decline in Venezuela output somehow slows down, that will be good news. Venezuela is something to watch out for and also the geopolitical developments in key Middle East and North African countries like Iran, Lybia and Iraq. I wish to see Saudi Arabia and its allies increasing production. I will be watching it closely and I hope to see more oil, more volumes to come from Saudi Arabia to comfort the markets and to put downward pressure on the price increase. How do you see consumption trends at the end of large consumers like India and China panning out? When we look at IEA numbers, we see that the two major drivers of oil demand growth are China and India. This is driven by the mobility, by cars, trucks but more and more by the petrochemical industry which is a major user of oil. On top of that, in both of these emerging giants, aviation jets are playing an increasingly bigger role in the higher oil demand. We are sure that India and China with their increasing economic activity, with the strong population growth prospects and greater emphasis on petrochemicals will continue to drive global oil demand growth in the years to come.

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RK Studio Sale Is Breaking Bollywood's Heart. Here's What Celebs Say

The Kapoors have decided to sell RK Studio after a part of it was gutted in a fire last year

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Poco F1 Doesn't Support HD Video Streaming on Netflix, Amazon Prime Video

It seems that Xiaomi's Poco F1 does not support Widevine L1 that is required for HD video streaming on Netflix, Amazon Prime Video, etc.

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Class 10 Student's Throat Slit By Stalker At Her Home Near Hyderabad

A Class 10 student was killed allegedly by an engineering student for spurning his romantic advances on the outskirts of Hyderabad on Thursday. The incident took place at IDA Bollarum in Sanga Reddy...

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Sadbhav Engineering bags Rs 1,620 crore order from Maharashtra State Road Development Corp

Sadbhav Engineering today said it has received letter of acceptance (LOA) from the Maharashtra State Road Development Corporation for road project worth Rs 1,620 crore. The order is for construction of access controlled Nagpur-Mumbai Super Communication Expressway (Maharastra Samruddhi Mahamarg) in Maharashtra in district Washim. "The company has received Letter of Acceptance (LOA) from Maharashtra State Road Development Corpn. Ltd. (A Government of Maharashtra Undertaking) for the road project/work for a negotiated contract value of Rs 1,620 crore," Sadbhav Engineering said in a BSE filing. In a separate filing, the company said it has also been declared the successful bidder (Ll) for other road and irrigation projects worth Rs 1,299.98 crore. Shares of the company were trading 0.30 per cent lower at Rs 280.25 apiece on the BSE.

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2 Dead, 6 Injured After Masked Men Go On Stabbing Spree In Delhi

Two men were killed and six others injured after two masked men went on a rampage, attacking and stabbing people randomly in outer Delhi's Mangolpuri, the police said on Thursday.

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Akhilesh Yadav's Estranged Uncles Came Face-to-Face. Then This Happened

Akhilesh Yadav's estranged uncle Shivpal Yadav came face-to-face with cousin Ramgopal Yadav, a day after announcing a "Samajwadi Secular Morcha", which revived speculation of a split,. In the fleeting...

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शाहजहांपुर: गैंगरेप पीड़िता ने किया आत्मदाह, बेटे की हालत गंभीर

महिला टीबी से ग्रसित थी। उसका इलाज झोलाछाप विनय कुमार से चल रहा था। 18 अगस्त को रात नौ बजे उसने विनय को इंजेक्शन लगाने के लिए घर बुलवाया था।

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483 Dead, 14 Missing In Kerala Floods: Pinarayi Vijayan

At least 483 people have died and 15 people are still missing since the floods ravaged Kerala, Chief Minister Pinarayi Vijayan said on Thursday.

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Kapil Sharma To Reportedly Return With A New Show. Details Here

Waiting for Kapil Sharma's return to TV again? Here's an update

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NASA Says Water Spotted at Jupiter's Great Red Spot

NASA scientists have found water above the massive planet's deepest clouds.

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Google, Mastercard Cut A Secret Ad Deal To Track Retail Sales: Report

Ad buyers that work with Google insist that the company is careful to maintain the walls between transaction information and web behavior, keeping any info flowing to retailers and marketers...

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Co-working space provider Smartworks opens second facility in Chennai

NEW DELHI: Smartworks, a provider of managed workspaces, opened its second facility in Chennai on Old Mahabalipuram Road (OMR), bringing its total footprint in India to over 1.2 million sq. ft, according to a release.The facility at OMR, Chennai is spread across 85,180 sq. ft. with a seating capacity of 1,500 seats. With this launch, Smartworks is taking its total number of centers in India to 15 across nine cities: Delhi, Gurugram, Noida, Kolkata, Bangalore, Mumbai, Pune, Hyderabad and Chennai. Launched three months ago, Smartworks first center in Chennai at Guindy was fully occupied by more than 10 companies within two months as demand for shared workspaces in the city is increasing. Currently, Smartworks has brought on board several clients, counting Tata Communications, Microsoft, Arcelor Mittal, Amazon, Carrier, Daikin, Lenovo, Bacardi, Swiggy, Rivigo, Otis and OLX among its 500+ strong client base.Speaking of the launch in Chennai, Smartworks founder, Neetish Sarda said, “Chennai is witnessing a rise in demand for office spaces. This is a huge accomplishment for us. Chennai is fast emerging as a destination for information technology, outsourcing, manufacturing and enterprises, that has led to entry of global firms here.”65620251 He added, “The facility in OMR complements our already functional Smartworks facility in Guindy was booked out 100% within two months of its launch which has led to the opening of this new facility in OMR. We are bullish on the sector we operate in and see ourselves expanding very fast in the next three years, targeting 10 million sq. ft.” In its one of a kind collaboration, Smartworks announced its association with Episource, a US headquartered company with operations across India and the Philippines. In their recent expansion with Smartworks, they have occupied eight of the ten floors at OMR Centre, seating 1,400 of their new employees.65620253 “Outsourcing our office management to co-working operators allows us to focus on our core competency— medical record review services,” said Sishir Reddy, CEO, Episource.The OMR area of Chennai is the IT corridor of the city. The area offers a good mix of residential and office complexes, contemporary structures, swanky eateries and a growing number of entertainment zones.With demand for customized workspaces growing rapidly across Tier 1 & Tier 2 cities, Smartworks is targeting 10 million sq. ft. of managed office space over the next three years.

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विपक्ष के लिए ब्रह्मास्त्र साबित हुई है जेपीसी, अब तक 6 बार बनी और चली गई सरकार

ऐसे में आरोप लग रहे हैं कि इस बार फिर उठी जेपीसी की मांग पर भाजपा बच रही है।

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बियर की दुकान पर हो रही ओवर रेटिंग

बियर की दुकान पर हो रही ओवर रेटिंग

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सम्मान

सम्मान

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मौसम की मार से अस्पतालों में मरीजों की भरमार-City

मौसम की मार से अस्पतालों में मरीजों की भरमार-City

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सांड के हमले में दो महिलाएं घायल-City

सांड के हमले में दो महिलाएं घायल-City

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डाक विभाग: इंडिया पोस्ट पेमेंट्स बैंक,,,-City

डाक विभाग: इंडिया पोस्ट पेमेंट्स बैंक,,,-City

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वाणिज्य कर शिविर आज,,,-City

वाणिज्य कर शिविर आज,,,-City

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अज्ञात शव

अज्ञात शव

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Hyundai is about to leave you spoilt for choice

To tap into the country’s increasing demand for utility vehicles, the South Korean carmaker would make half a dozen SUVs and crossovers for the local market. Hyundai’s pricing range would be pretty wide – from Rs 5 lakh to Rs 40 lakh – to compete in a segment that accounts for one in four personal-transport vehicles sold in Asia’s no. 3 economy.Once the models are introduced, Hyundai will have the majority of its portfolio as crossovers and SUVs – with options at every 1-lakh-rupee price point. According to several people in the know of Hyundai Motor’s plans, more than 60% of the company’s local product line-up will consist of crossovers and UVs i.e. 8 out 13 vehicles in future.Hyundai has set itself the target of selling a million vehicles per annum by the end of this decade, and the sub-4 metre SUV, Qxi, is critical to achieving the goal.Y K Koo, MD of Hyundai Motor India, told ET that in the immediate future, the company would have built a customer base of over 4 lakh Creta owners who would be looking for an upgrade: Hyundai does not want its current Creta owners to go to competition."SUV is a very important market; we are going to be strengthening our portfolio both below Creta and above Creta,” Y K Koo said. “The Qxi and Micro SUV can address the affordable end of the market. We also want to retain our existing Creta customers who will be looking for an upgrade going ahead , and we will not allow these customers to go to competition (Toyota Fortuner).”He did not share specifics of the future product pipeline.Qxi will be the first to hit the roads in 2019 and a beginning point for the roll out of range of SUVs. The Qxi will take on the likes of Ford EcoSport and Maruti Suzuki Vitara Brezza. This launch will be followed by new generation i20 Active and Creta.While the current Creta is addressing the compact SUV buyers, after 2020 Hyundai wants to offer a 7-seater version of Creta codenamed SU2i, followed by 5- and 7-seater Tucson (NX4i) to take on the Jeep Compass and Toyota Fortuner. It will also make a Micro SUV to challenge Mahindra KUV. Learning from the past below par performance of Tucson and Santa Fe which were either imported as fully built or in a knocked down form, Hyundai aims to locally manufacture the Tucson twins to compete strongly against Jeep Compass and Toyota Fortuner respectively. The Kona EV will also be assembled in the second half of next year.The utility vehicle segment has been the fastest growing in India, with volumes more than doubling in the last five years to almost 9.2 lakh units per year. The segment is set to see more than 50 new introductions in the coming three to five years from various automakers, expanding the size of the segment to 1.5 million units over the next three-four years, say industry sources.

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Sensex set for new highs even though rated expensive: Poll

BENGALURU: Indian shares will hit a new record high by year-end despite being rated as expensive, strategists polled by Reuters said, citing high oil prices and election uncertainty as the biggest downside risks to the main index. While the tit-for-tat tariff war between the United States and China has hurt emerging markets and pushed the rupee to an all-time low, the benchmark BSE Sensex Index has gained nearly 14 percent this year and hit a lifetime high of 38,989 on Aug 29, outperforming other major global indices. That comes at a time when India's perennial problem of higher inflation is reappearing due to rising oil prices and also as global monetary policy is shifting to a tightening bias. Despite those concerns and increasing uncertainty ahead of national elections next year, Indian stocks have scaled several fresh highs and are forecast to continue that uptrend. The BSE Sensex is forecast to rise another 2 percent and hit a new high of 39,500 by end-December from Wednesday's close, according to the poll of around 50 strategists taken August 23-30. It is expected to gain a further 4 percent next year. The latest bullish consensus was an upgrade from predictions in a May poll as the index has already breached the end-2018 level forecast back then, largely driven by expectations for strong corporate earnings. Indeed, all 15 strategists who answered an extra question said company earnings growth has yet to peak in India. "Strong macro-economic factors overall will push the index further up. Tax growth, good monsoon rains, rising consumption in the core industries and recovering corporate earnings will support," said SP Tulsian, an independent investment adviser. Asia's third-largest economy took a hit from a ban of high-value currency notes in late 2016 and a hasty implementation of a goods and services tax in July last year, but recovered smartly. It has regained top spot as the world's fastest-growing major economy, a position another Reuters poll said it would retain, supported by increased government spending before 2019 elections which will also benefit stocks. "Elections will confirm whether PM Narendra Modi gets to serve a second term, and continue with his business-friendly policies after his popularity dropped following demonetisation and a premature GST implementation," said KK Mittal, investment advisor at Venus India. However, the cost of India's biggest import commodity, oil, has risen and pushed inflation higher which could compel the Reserve Bank of India to tighten policy a lot faster and earlier than expected, weighing on stocks. "A steep rise in oil prices coupled with depreciating currency is indeed a risk for the equity market which is not being priced-in right now," wrote Rajat Agarwal, strategist at Societe Generale. While many Asian bourses have shown negative returns this year on capital outflows from emerging markets, Indian stocks have outperformed even as international investors have turned into net sellers this year. But a majority, 30 of 42 strategists who answered a separate question, said Indian shares were expensive. The remaining 12 said they were fairly valued and none said they were undervalued. The price-to-earnings or PE ratio - a widely used measure for stock valuation - for the BSE Sensex is well above its long-term average and just a touch below a 10-year high. "Valuations clearly suggest Indian stocks are very expensive at the moment. I have never seen such levels of PE multiples sustaining for a longer period of time," said CA Rudramurthy, managing director at Vachana Investments.

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India best performing part of our portfolio: Teresa C Barger

The dangers people are seeing in terms of frontier sovereign debt have nothing to do with the excellent position of the 24 emerging markets, Teresa C Barger, Co- 65618301 65609407 65603979 founder & CEO, Cartica Capital, tells ET Now.Edited excerpts: The headline that is really hitting us this morning has been the rupee hitting 71 against dollar. What are you making of the emerging market turmoil in both equities as well as currencies? Given that the rupee is at a record low, is it the new normal or could there be some signs of revival in the US dollar? Emerging markets are in balance in terms of current account with neither surplus nor deficit. While debt has gone up, so has GDP. Debt as a percentage of GDP has not gone up and foreign exchange coverage for their debt has gone way up. So, emerging markets are actually poised very well macroeconomically.Part of that is having learnt the lessons of taper tantrum in 2013, I do not see actual emerging markets turmoil. Argentina as a frontier market and it is not an emerging market. Turkey is one but it is a sentiment driven issue there and I see concern for frontier debt markets that somehow has come into the conversation about equity markets. I find it very irritating because the dangers people are seeing in terms of frontier sovereign debt have really nothing to do with the quite excellent position of the 24 emerging markets. Your largest AUM exposure is in India at 32% plus. Is the bipolar move of the index versus the broader markets an irritant or considering you are such a stock-specific, long-only fund, it does not really matter? Not really. We are long-term investors and this spring was difficult in India because there was the budget with long-term capital gains tax and the rebalancing of portfolios which had gotten out of control in smallcaps and midcaps. So, there was a lot of selloff in smallcaps and midcaps. But it has rebalanced quite nicely and the best performing part of our portfolio was India. We are not concerned on that front. Last time when we chatted, I recall you mentioned that high governance and good quality banks is something what you would like. HDFC Bank, RBL, breakaway from these governance problems like ICICI Bank. The alpha chases are sitting very happy looking at the month to date returns because stocks have done great. But somehow the market leadership is now migrating towards value. So, hyper growth, hyper price has been taken over by reasonable growth and reasonable valuations. Teresa C Barger: We are long-term investors and we are very concerned about not taking any reputational or so called headline risk. We would always stick with what we think are high quality management teams and good governance. If you got a high integrity team that has some issues on governance that are fixable, that is fine as well. But we are really going to go for quality and would stick with what the highest integrity, well governed companies. Expensive valuations aside, the going is getting tough. Not only are Eicher sales volumes worrying, but Harely also wants to enter the same segment. You got TVS which is coming out with a bike. Do you think that for Eicher both earnings momentum and PE expansion days are over? You have cut down Eicher stake. First of all, Harely is not going to enter the market for many years and we have had lots of conversations about this. There is also a school of thought that says having another player in mid-sized motorcycle business (250 to 750 cc market) would expand the market for Enfield. It is going to take a long time for Harley to get in there and build up supply chains. Plus, Eicher has spectacular margins. One should be worried about it in five, six, seven, eight years and even then we might find it to be a positive. When there was Coke-Pepsi competition, they both increased the market. The push for Eicher is to have people switch from 100 -150 cc bikes to 500 cc bikes. This will happen with better roads and infrastructure in India.So, investing in infrastructure companies is the way to go. Are you planning to change your position when it comes to TVS? There is a growing fear about that price war initiated by Bajaj Auto. How are you approaching the theme? We have looked at that quite seriously but so far, we are very pleased that other people have not taken them up on the offer to lower their prices. So while that had been a concern for us when the news came out, actually it is more detrimental to Bajaj than it is to the class as whole. While consumption is a favourite theme with most fund managers and not just you, the Indian retail segment is drawing a lot of interest with a lot of M&A buzz. Has it caught your attention yet? Do you want to test waters here? It is very hard to find enough in that segment. We have nothing against it. I do think that e-commerce will come to the fore in India as it has elsewhere, in a fairly big way. Offline retailers have to be very careful and obviously we have had some new news on Flipkart. I do not know if that is going to make a difference to their operations but it has just been a more difficult area in India with far more regulations than other places. We are not really in retailing per se in that many places although we are in restaurant chains and they have done very well for us. Is there any other change that you may have made in your India portfolio in the previous quarter? In India, there are no secrets. Everyone knows exactly what we do as it is the only place in the world. I am sure you all know as soon as we do something. It is high quality, has very good management teams, very good governance and we are really are quite happy with India as we are now. We also like India as a hedge against possible continued policy disruptions coming from the US because it is not that exposed. We like that quite a lot. What about trade war between US and China? Is that an event risk which you think markets are already building in the price? Suddenly one is getting a sense that the problems between Mexico and US is getting sorted out because Donald Trump is not taking such a hard line on Mexico. What is your view on the impact of trade war on markets?There are some risks in it. Today there is a lot of trade news. There was NAFTA news. News on whether Canada could sign it by Friday; news that Trump was going to impose perhaps tariffs on $200 billion of goods from China on September 6 and market had very muted reaction to that. There is going to be really a short-term versus long-term reaction. In the long run, the country that protects itself does more harm to itself than it inflects on its trade partner. According to Merrill Lynch, if the tariffs play out fully and there are retaliations, the US consumer get hurt twice as badly as consumers. In the long run, it is not a very positive thing for the US and people will start to get hurt. For this year, it could be quite difficult and we can see some sentiment reaction on the trade wars.

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Xiaomi India migrating its local data to India cloud infrastructure

Chinese handset maker Xiaomi Friday said that it is migrating its Indian data to cloud service providers Amazon Web Services (AWS) and Microsoft Azure with infrastructure in India. The migration will be completed by the end of 2018. All new Indian user data since July 1 is already being stored in local servers and all existing user data on mi.com/in/ will be fully migrated to servers in India by mid-September 2018, the company said, adding that the migration will result in a jump in access speed.The data migration would cover all Indian user data across Xiaomi e-commerce platform, Mi Community (in.c.mi.com), Mi Cloud, MIUI (Xiaomi Market, feed, Mi Video, advertising, Mi Messaging, push notifications, etc) and Mi TV.Prior to this, all Indian user data used was stored in AWS servers across Singapore and the United States.Manu Jain, Vice President, Xiaomi and Managing Director, Xiaomi India: “At Xiaomi, data privacy and security are of utmost importance to us. We are taking one more step towards user data security and privacy by bringing our cloud services to India for all local data needs. It’s something our teams have been working tirelessly on and I am glad we have been able to turn this around for our India users. With the data stored locally and encrypted end to end, users will be able to enjoy greater access speeds.” He continued, “Xiaomi is committed to India and data protection and using cloud servers in India is another step in that direction for us. We will continue to work on this aspect and ensure a heightened user experience for all our users in India.”

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सुप्रीम कोर्ट में फिर टली धारा 35ए की सुनवाई, अब जनवरी में कोर्ट करेगा सुनवाई

केंद्र ने घाटी में होने वाले पंचायत चुनाव और सुरक्षा व्यवस्था का हवाला देते हुए सुनवाई टालने की मांग की थी।

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प्रिया प्रकाश वारियर को सुप्रीम कोर्ट से राहत, हैदराबाद और मुंबई में दर्ज एफआईआर रद्द

उनके एक गाने 'ओरू ओडार..' को लेकर उन पर इस्लाम के अपमान का आरोप लगा था।

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जम्मू-कश्मीर: आतंकियों ने पुलिसकर्मियों के परिजनों का किया अपहरण, 48 घंटे में 11 अगवा

दक्षिणी कश्मीर के पुलवामा जिले से आतंकियों ने वीरवार की देर रात पुलिसकर्मियों के परिजनों का अपहरण कर लिया।

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उच्चतम न्यायालय ने एसएससी परीक्षा, 2017 के परिणाम घोषित करने पर रोक लगायी

उच्चतम न्यायालय ने एसएससी परीक्षा, 2017 के परिणाम घोषित करने पर रोक लगायी, कहा नजर आ रही है गड़बड़ी।

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आईटीआर भरने का आज आखिरी दिन, पहली बार 5 करोड़ से ज्यादा लोगों ने किया फाइल, 60 फीसदी का इजाफा

इनकम टैक्स रिटर्न भरने का आज आखिरी दिन है। इससे पहले गुरुवार को रिटर्न फाइल करने में एक नया रिकॉर्ड बना। आयकर विभाग के आंकड़ों के मुताबिक पहली बार गुरुवार शाम तक 5 करोड़ से अधिक करदाताओं ने अपना रिटर्न फाइल कर दिया था।

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सुप्रीम कोर्ट ने केंद्र, भाजपा और 6 राज्यों को जारी किया नोटिस, निर्देशों का किया था उल्लंघन

सुप्रीम कोर्ट ने केंद्र, भाजपा और छह राज्यों को नोटिस जारी किया, इन निर्देशों का किया था उल्लंघन।

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पहली बार 71 के पार पहुंचा रुपया, रिकॉर्ड स्तर पर महंगा हुआ पेट्रोल-डीजल, बढ़ेंगे सीएनजी के दाम

अंतरराष्ट्रीय स्तर पर डॉलर की मजबूती के चलते भारतीय करेंसी में भी गिरावट का दौर जारी रहा। शुक्रवार को रुपया पहली बार 71 रुपये के करीब पहुंच गया। इसके चलते पेट्रोल-डीजल के दामों में आग लगी हुई है और यह भी अपने उच्चतम स्तर पर पहुंच गया।

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राहुल ने कहा- बड़े बम गिराने वाला है राफेल, नकवी का पलटवार- गुरु घंटालों को घोटाला ही नजर आएगा

इससे पहले राहुल ने पीएम मोदी को आड़े हाथों लेते हुए यहां तक कहा था कि उन्होंने देश की अर्थव्यवस्था बिगाड़ दी है।

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आईआरसीटीसी घोटाले में राबड़ी, तेजस्वी को मिली जमानत, लालू के खिलाफ वारंट

तेजस्वी और दूसरे आरोपियों के खिलाफ जेल या जमानत का मामला उनके खिलाफ मिले सबूतों और बचाव पक्ष के तर्क पर निर्भर करता है।

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दो सौ साल पुराने हैं कोरेगांव हिंसा के तार: जांच होती गई और गिरफ्तार होते गए एक्टिविस्ट

बात 1818 की है जब युद्ध में ब्रिटिश सेना ने पेशवा शासकों को हरा दिया। उस समय ब्रिटिश सेना में बड़ी तादाद में दलित समुदाय के लोग थे। इस जनवरी में इस युद्ध की 200वीं सालगिरह मनाने के लिए बड़ी संख्या में दलित समुदाय के लोग एकत्रित हुए थे।

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जयपुर: नशे में धुत ड्राइवर ने फुटपाथ पर सो रहे 4 मजदूरों पर चढ़ाई एसयूवी, दो की मौत

नशे में धुत ड्राइवर ने फुटपाथ पर सो रहे 4 मजदूरों पर चढ़ाई एसयूवी, दो की मौत।

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"You Have No Other Job?": Chief Justice Slams Case Against Priya Varrier

Malayalam actor Priya Prakash Varrier was granted a huge reprieve today as the Supreme Court cancelled a police case against her over a song in her film.

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Review: Shraddha, Rajkummar Are Terrific In Madcap Stree

Stree Movie Review: Aparshakti Khurana steals many a scene, Pankaj Tripathi is in cracking form in this spine-tingling film.

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Top Court Defers Hearing On Jammu And Kashmir's Article 35A To January

The hearing on Article 35A in Jammu and Kashmir has been deferred to January by the Supreme Court today. The state government told the court that any hearing on the matter now will create law and...

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Opinion: Modi Supporters, Please See These New Economic Facts

It turns out that overall, the economy under both UPA terms (10-year average: 8.1 per cent) outperformed the Modi Govt (average: 7.3 per cent). Even if we look at the average growth rate under UPA II,...

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Right Now, Priyanka And Nick Jonas Are Holidaying In Mexico. See Pics

Fans of Priyanka Chopra and Nick Jonas are impressed that the couple manages to find time for each other despite their busy schedules

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The First Snapdragon 850-Powered Laptop Has a Battery Life of 25 Hours

Lenovo has become the first company in the world to launch a Windows 10 laptop based on the Qualcomm Snapdragon 850 platform.

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Opinion: The Remarkable 100 Per Cent Failure Rate Of Modi's Demonetisation

In all of India's economic history, it's hard to find anything quite as indefensible as demonetisation. In fact, its irrationality is world-beating - Narendra Modi promised to put us on the world map,...

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Apple Sends Invites for September 12 Event, New iPhones Likely

Apple September 12 launch event will likely see the launch of the 2018 iPhone models, featuring 5.8-inch, 6.1-inch and 6.5-inch displays.

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Arvind Kejriwal's New Problem - Another 'AAP'

The Delhi High Court today sought response of the Election Commission on a plea by the Aam Aadmi Party against the poll panel's decision to reject its objection against registration of the 'Aapki Apni...

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Janmashtami 2018: Date, Timings, Fasting, Significance And Celebrations

This year, there has been a confusion over the Krishna Janmastami 2018 date. Krishna Janmashtami will be celebrated on September 2 and 3 both this year.

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"Baahubali" Of Madhya Pradesh Is Shivraj Singh Chouhan In New Spoof Video

Months before the elections in Madhya Pradesh, the BJP and Congress supporters are waging a video war online. The latest, a 'Baahubali'-themed video portraying Madhya Pradesh Chief Minister Shivraj...

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Family Members Of 6 Policemen Kidnapped By Terrorists In Kashmir: Sources

Family members of six policemen have been kidnapped after terrorists raided the homes of several police officers in south Kashmir on Thursday evening, sources have told NDTV.

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Investors find HDFC Bank's hidden gold mine, mad rush begins

Mumbai: HDB Financial Services, the unlisted non-banking subsidiary of HDFC Bank, has seen its value zoom to Rs 90,000 crore, thanks to the frenzied deals in its shares in the unofficial market. In the wake of the strong listing of HDFC Asset Management Co early in August, investors are making a beeline for HDB, driving the shares up by 40 per cent in the last one month.Brokers doing deals in the unlisted space said affluent investors are buying HDB shares at Rs 1,150 a share compared to Rs 850 a piece in July. Value pickers, who lapped up these shares late in 2016, have already made a killing. Two years ago, the stock was trading at Rs 175-200 a piece.At Rs 1150 per piece, the stock is trading at a price to book value of 14.5 times. Most of its listed NBFC peers are trading at 5-10 times their price to book value.The frenzied appetite for HDB shares is on the hopes that the company would come up with an IPO in the next 12 months. HDB Financial sells consumer loans, enterprise loans and asset finance.A spokesperson for HDFC Bank did not reply to an email seeking comment.Hopes are high from HDB given that investors have made strong listing gains in HDFC Asset Management and HDFC Standard Life in November.“Investors have made money in both the IPOs of HDFC Standard Life Insurance and HDFC Asset Management in the last one year. HDFC is a brand that they trust and they strongly believe this will be the next company from the group to come up with an IPO,” said Sandip Ginodia, CEO, Abhishek Securities, a firm which deals in unlisted securities.HDFC Standard Life, which listed at a 19 per cent premium to its IPO price of Rs 290 in November, is currently trading at Rs 467, 61 per cent above its issue price. HDFC Asset Management Co, which offered its shares at Rs 1,100, now trades at Rs 1,834, giving a 67 per cent return to its investors.Ginodia said demand for these shares are from the rich investors, who have been willing to pay a premium for these shares. Most of the sellers have been HDB employees who got stock options.“This company has done well consistently over the last few years. I have keep on getting calls from investors wanting to buy the stock but I am holding on because I have faith in the management and the current CEO. He has kept the top management together and ensured that the company has maintained its asset quality,” said a shareholder who has held on to his shares since receiving it in employee stock options.Currently 95.87 per cent of the shares have been held by promoter HDFC Bank, according to the HDB annual report, though it is down from 96.20 per cent last year as the company issued some more ESOPs during the year.The company’s net profit increased 36 per cent to Rs 952 crore in the fiscal year ended March 2018 from Rs 699 crore a year earlier riding on a 24 per cent jump in revenues to Rs 7,062 crore from Rs 5,715 crore a year earlier. Total loan book has increased to Rs 34,981 crore from Rs 25,287 crore a year ago.

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Airtel loses the crown it wore for 15 years

65619297 KOLKATA|NEW DELHI: The National Company Law Tribunal (NCLT) approved the merger of Idea Cellular and Vodafone India, clearing the last hurdle to the creation of India’s largest mobile phone company with the most subscribers and revenue share, displacing Bharti Airtel, which has held the top spot for about 15 years. A senior executive of the Aditya Birla Group, of which Idea Cellular is a part, confirmed the NCLT nod, saying “announcements would be made on Friday”. The new entity will kick off with 440 million subscribers, a 34.7% revenue market share (RMS), revenue of more than Rs 60,000 crore and combined debt of over Rs 1.15 lakh crore. The largest merger in the sector now leaves three major players — Bharti Airtel, Reliance Jio Infocomm and Vodafone Idea — to fight it out for over a billion subscribers in a market that is seeing surging demand for data amid rock-bottom tariffs as the country moves to 4G from 3G and smartphones become more affordable.Pricing Power May Return to SectorSector experts expect pricing power to gradually return to the sector — over a year or so — as the effects of rapid consolidation play out. Two years of brutal price wars have savaged revenue and profits. 65616167 The NCLT approval is the final clearance needed before registration of the merged entity, Vodafone Idea Ltd, which will remain listed. The new board will be constituted after registration with the Registrar of Companies (RoC). Some circle-level executives have been told that September 3 could be Day Zero of the combined entity. Idea’s shares closed marginally higher by 0.71% at Rs 49.85 on the BSE Thursday. Vodafone and Idea didn’t respond to ET’s emailed queries.The final approval came nearly two months after the June 30 deadline the two companies had set. Vodafone Group CEO Vittorio Colao had said he expected the merger to close in August during a visit to India last month.Analysts had underlined the importance of an early completion of the merger as both Vodafone India and Idea Cellular have been rapidly losing ground to Mukesh Ambani-controlled Reliance Jio Infocomm. Jio, which officially launched services in September 2016, has dislodged both the Idea and Vodafone standalone entities on RMS.Potent RivalThe merged entity should clock as much as $10 billion in savings over time, making it a more potent rival for Bharti Airtel and Jio, according to analysts. “The market and customers will now see how the new company deploys and catches up with its 4G rollout, in which it has been a laggard,” ex-Bharti Airtel CEO Sanjay Kapoor said.He said a new telecom leader had emerged and the markets would be watching closely. “The countdown for deliveries has begun and financial synergy is an integral part of this merger,” Kapoor said. Rohan Dhamija, partner and head of India and Middle East at Analysys Mason, said, “The merged entity would need to very quickly change focus from internal integration to winning externally in the market, besides investing significantly in enhancing 4G network capacity to effectively compete with Jio and Airtel.”Credit Suisse analysts said Idea’s financial pain in the run-up to the merger might be deeper.

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India is about to get a serious oil shock

Petrol and diesel prices, already hovering near record levels, are poised to soar further as the head of the International Energy Agency sees robust global demand rapidly outpacing dwindling supply, boosting crude rates.Indian economy remains vulnerable to oil price fluctuations, which makes it important for the country to diversify sources of supply, use biofuels, and to reduce energy consumption by cars, trucks and factories, Fatih Birol, executive director of Paris-based IEA, told ET in an interview.Diesel prices rose to a record high this week, while petrol is close to its highest-ever level and the steep depreciation of the Indian rupee has not helped. The rupee has fallen 10% this year hit a record low of Rs 70.82 on Thursday. India imports about 80% of the oil it consumes, which means petrol and diesel would be about Rs 6 per litre cheaper had the rupee held steady this year.“The coming few months are difficult months. The global oil demand growth is much stronger than the historical averages, led by China, India among other countries. But when we look at the supply side, we see a big problem of Venezuela oil production declining sharply. There’s a free fall,” Birol said.Global prices would rise unless the oil cartel OPEC, which has cut output to boost price, increases supply significantly, he said.“If the OPEC alliance countries don’t increase their production significantly in the next months to come, we may see tightening of the global oil markets towards the end of this year. This may well put a pressure on the prices. It is already at $75 per barrel today,” he added.Brent prices have been firming up on account of lower output in Venezuela and US sanctions that restrict crude oil export from Iran, the third-largest OPEC producer. 65614442 Birol said Venezuelan oil production had halved in the last couple of years, an unprecedented event in the history of a major oil producing country, which is exerting further pressure on global supply.Talking about the trends in the global energy market, Birol said that while the US has emerged as the ‘undisputed’ leader of oil and gas production, India is driving the growth in energy demand globally and both countries are well-positioned to expand energy trade between them.“I think global oil imports is a vulnerability for the Indian economy, so (they should) not only try to diversify where imports come from, but reducing the growth of oil imports is itself very important. Therefore, improvement in efficiency of trucks, cars, petrochemical industry, is extremely important,” said Birol, who was in the city to deliver the 17th Darbari Seth Lecture organised by The Energy and Resources Institute (TERI).He said India's decision to increase the use of biofuels in the transportation sector is timely and will be instrumental in reducing the country’s oil imports. “This is the only way, and we hope oil prices don’t go up, and it doesn’t pinch the economic growth of India,” he said.

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Rupee falls to 71, reaches bottom of the Asia heap

NEW DELHI: After hitting its fresh all-time low of 71-mark against the US dollar in opening trade, the local currency was trading 17 paise down at 70.91.Month-end dollar demand from importers and rising crude oil prices in the international market during the last couple of sessions mainly pressurised the local currency. The rupee on Thursday plunged 15 paise at 70.74 against dollar.65618064 With a fall of 9.90 per cent, rupee is worst performing currency in Asian on year-to-date basis. It has fallen 3.30 per cent in August so far, most among Asian peers. Oil and toil, Trump and turmoil- trifecta driving the emerging markets right now. Rupee cannot be immune to that. Life used to so simple, when stronger dollar used to mean lower oil prices. Now situation has become demanding for the Rupee, as oil and stronger dollar overseas is eating through all defences of the central bank, according to Kotak Securities.Traders said the Reserve Bank of India was likely sporadically selling dollars through state-run banks to prevent a sudden sharp fall but traders do not expect any major intervention as the fall has been in line with fundamentals, according to a Reuters report.

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Idea-Vodafone say merger complete, now India's largest telco with 408 million active users

65616161 NEW DELHI: Aditya Birla Group on Friday said that Vodafone India and Idea Cellular have completed the merger to create the countey's largest telecom company with 408 million active subscribers and a revenue market share of 32.2%.“We wish to inform you that pursuant to filing of the NCLT orders with the relevant Registrars of Companies on 31st August, 2018, the Scheme has become effective on even date and the merger of VMSL (Vodafone Mobile services Ltd)and VIL (Vodafone India Ltd) with the Company has been completed,” said Idea Cellular in a regulatory filing on Friday.The new board of 12 directors (including six Independent directors ) of just merged Vodafone Idea met on Friday morning with Kumar Mangalam Birla as the chairman.“Today, we have created India’s leading telecom operator. It is truly a historic moment. And this is much more than just about creating a large business. It is about our Vision of empowering and enabling a New India and meeting the aspirations of the youth of our country,” said Birla. “As Vodafone Idea, we are partnering in this initiative by building a formidable company of international repute, scale and standards,” he added.The new company will be headed by Balesh Sharma who said that the “company has the scale and resources to ensure sustainable customer choice and introduce new technologies”. He added that the new team will cater to both retail and enterprise customers with “new products, services and solutions”. Vodafone Idea will have a spread of 15,000 branded stores and 1.7 million retail touchpoints across the country. The merger which has been in the making for well over a year is expected to face the challenges of stiff competition from Bharti Airtel and Jio. It has a debt of Rs 1.09 lakh crore but has the option to monetise an 11.15% stake in Indus Towers which would equate to a cash consideration of Rs. 5100 crore .In the joint entity , UK based Vodafone Group owns 45.2% stake while Aditya Birla Group has 26% stake , both on fully diluted basis. The National Company Law Tribunal (NCLT) on Thursday had approved the merger of Idea Cellular and Vodafone India, clearing the last hurdle to allow the creation of India's largest mobile phone company with the most number of subscribers and revenue share, displacing Bharti Airtel which has held the top spot for some 15 years.The largest merger in the sector now leaves three major players – Bharti Airtel, Reliance Jio Infocomm and Vodafone Idea – to fight it out for over a billion subscribers in a market which is seeing surging demand for data amid rick bottom tariffs as the country moves to 4G from 3G and smartphones become more affordable.

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There might not be a pot of gold in Indian retail

By Mihir SharmaApparently there’s a pot of gold in Indian retail, and big players from around the world want to dip in. Many of them are likely to come up empty-handed.The volume of high-profile announcements in the sector recently has been remarkable. Walmart Inc. led with a $16 billion deal to buy Flipkart Online Services Pvt. Ltd., India’s largest e-commerce retailer; China’s Tencent Holdings Ltd. will retain its holdings in Flipkart as well. After pouring billions into India to compete with Flipkart, Amazon now says it hopes to pick up a substantial stake in Future Group, which runs over 1,000 brick-and-mortar stores across the country. Google is interested in Future Group too, as is the shopping arm of Indian payments company Paytm, which is funded by Softbank Group Corp. and Alibaba Group Holding Ltd. Meanwhile, Berkshire Hathaway Inc. is also betting on Paytm, whose fortunes will depend greatly on whether e-commerce takes off in India, paying over $300 million for 3 to 4 percent of the company.Sure, there are a lot of Indians and they’re getting richer; Indian retail is a growing industry. But the current wave of enthusiasm looks excessive. Consider the excitement surrounding Paytm. The company is only in retail as an afterthought. It’s really a digital payments company that depends on a “wallet,” which you fill up from your bank account or your credit card. After spending hard on promotions and incentives, the company accounts for 22 percent of the volume of banking transactions in India — but still only 0.25 percent of the value.The company — which opposition parties in India accuse of cozy ties with the current government — has expanded on the back of favorable regulatory and policy decisions. The initial boost came from a 2014 central bank decision to kill “one-click” credit card transactions, which forced apps like Uber to switch to using wallets. Then it benefited hugely from the government’s decision to invalidate high-denomination notes, which made Indians worry about using cash. Now it hopes to profit from the government’s attempt to force consumers and companies to store data locally, by setting up cloud infrastructure locally.Where online shopping fits into this is unclear, unless the company is looking to diversify, worried that its products won’t be able to compete over the long run against the kind of cutting-edge mobile payment systems pioneered by China’s Tencent. It’s rare to meet anyone who’s actually bought anything on Paytm Mall: Flipkart and Amazon still have 80 percent of the market, and Paytm Mall’s Chinese-style direct linking of customers to offline retailers has caused consistent quality issues that force it to regularly delist sellers. It’s interesting that Berkshire Hathaway was quick to insist that Buffett himself had nothing to do with its investment.Amazon’s interest in Future Group makes a little more sense. The U.S. behemoth has been expanding into offline retail elsewhere and, in India, groceries already form a significant part of its sales; the company expects groceries and consumables to make up more than half of its business in five years.Still, the thinking here seems a bit schizophrenic. On the one hand, Amazon is tying up with the small mom-and-pop shops that continue to dominate the Indian market, through Amazon Now. On the other hand, it seems to think that Future Group’s bigger stores are a good investment. The company’s first instinct was probably correct. If organized grocery delivery in India is going to take off, it will be thanks to someone who uses the extensive networks already put in place by local vendors.Finally, investors worried about Walmart’s purchase of Flipkart because the price seemed too high for the education in e-commerce that Bentonville thought it was buying. Companies can’t simply pick up what they learn in India and apply it everywhere else. Indian consumers have special needs — they’re untrusting, for one, and price-sensitive, for another. They’re unlikely to build up big data trails on any one e-commerce site: Indians shop around constantly for the best deal. However attractive on the surface, India’s retail market isn’t like those elsewhere; it demands new models. Flipkart revolutionized e-commerce in India thanks to its cash-on-delivery option, since customers here prefer to hold an item in their hand before they pay for it. But it’s important to distinguish between genuine innovation and workarounds meant to avoid regulatory hassles, such as India’s ban on e-commerce companies holding their own inventory. Before reaching for their wallets, international players need to figure out if a model is genuinely adapted to Indian shoppers’ needs and, ideally, should wait for payments, tax and inventory regulations to settle down before spending billions on scaling up. Foreign companies and investors had better also keep in mind that the giant Indian conglomerate Reliance Industries is preparing its own push into shopping. Fresh after using the steady profits of its oil business to upend Indian telecommunications — forcing a series of mergers and exits — Reliance now wants to expand its Jio telecom brand into shopping, among other sectors. Anyone betting on dominating retail in India will have to beat Reliance at home. They could be in for an expensive lesson.

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State of the economy: Fault lines getting deeper?

The fault lines in the economy are only getting deeper with each passing day. The rupee, which plunged to a new all-time low on Thursday, is the biggest casualty, even as the widening current account and fiscal deficits are posing new risks to the economy managers.And with fuel prices touching new highs every day, it is a raw deal for the common man, too. Rising crude oil prices are sure to push up the trade deficit, which is already ruling high. Remember, the spike in petrol and diesel prices will have a recoil effect on inflation, forcing the central bank to adopt a more hawkish approach while framing the monetary policy.The bad loan menace is another big problem which has already pushed several power companies to the brink. Looks like the economy is gasping for breath, taking a heavy toll on the confidence levels of industry and investors.Interestingly, the macro-economic concerns come at a time when the Modi government is pitching for a ratings upgrade with S&P. In November last year, S&P had ruled out an upgrade in India's sovereign rating, pointing to ballooning government debt and the slow growth in revenue collection.Political party leaders and economists analysed the state of the economy on a special edition of ET NOW’s India Development Debate. Here are the key takeaways:PANEL VIEWMYTHILI BHUSNURMATHCONSULTING EDITOR, ET NOWRBI, as is common with central banks of all emerging market countries and even for some of the developed countries for that matter, always intervenes when they feel that movement is too sharp. So, what the RBI is doing in the process of intervention is to ensure that the depreciation is gradual and not too dramatic. So that’s what the RBI has been doing for the past couple of weeks. Given the fact that we have over $400 billion reserves, I think $25 billion is not a large amount to spend.R GOPALANEX-SECY, DEPT OF ECONOMIC AFFAIRSTrade deficit is one factor that contributes to the value of the rupee but there are other activities going on outside where the EM currencies are facing a bit of a problem. We have dollar strengthening, you have got oil price increasing — all these factors are contributing to weakening of the rupee. On the eve of elections, there’s always a tendency to slip the fisc a bit. There will be some slippages but there will be a greater attempt to see that the slippages are very marginal.SAUGATA BHATTACHARYACHIEF ECONOMIST, AXIS BANKThere are signs of some slippages; borrowings are relatively higher front-loaded again at this point of time. Tax collection is not that buoyant and robust as we had earlier expected. But to the government’s credit, the fisc is not that big a problem at this point of time. More than the fiscal, I think the immediate problem at this point of time is the current account deficit.JAIMINI BHAGWATIFORMER AMBASSADOR AND RBI CHAIR PROFESSOR — ICRIERRBI’s latest report mentions that the rupee is heavily overvalued. If you look at real effective exchange rates against six major currencies, the rupee is something like 25per cent overvalued even now. So, you have systematically high interest rates, both nominal and real in India compared to the USA. We have systematically avoided allowing the rupee to correct over the past, at least five, if not 10 years.

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Ahead of festive season, Gold sells at a premium

KOLKATA: Gold is selling at a premium of $1 per ounce in the domestic market with demand picking up ahead of the festive season.On Wednesday, the metal was available in the local market at Rupee30,950 per 10 gm, inclusive of the goods and services tax (GST).“There is an expectation in the market that gold will touch Rupee32,000 per 10 gm (without GST) by Diwali. So, people have started buying,” said Surendra Mehta, national secretary of India Bullion & Jewellers Association. Bullion traders and jewellers expect festive season demand to be 5-10per cent higher than last year’s despite prices moving up in the local market due to weakness in the rupee. Internationally, gold prices dropped by $98 per ounce since January 1, but Indians have not been able to take advantage of this due to a weak rupee which crossed the 70-mark against the dollar. Mukesh Kothari, director, RiddiSiddhi Bullions, said that premium on gold may rise as demand has started picking after the recently-concluded ‘India International Jewellery Show’, which attracted orders worth Rupee8,000 crore. Gold has lost its appeal as a safe-haven asset in the international market, having fallen over 7.5per cent so far this year, amid international trade disputes and the Turkish currency crisis, with investors increasingly turning to the US dollar instead.“In India, we might not see investment demand for gold in the upcoming festive season. It will only be jewellery sales. Overall, we are expecting a demand growth of 4-5per cent over last year,” said Joy Alukkas, chairman of Joyalukkas.The World Gold Council is positive about demand for the metal in India in the second half of 2018. “In India, gold premiums are positive again, showing a tilt towards buying. While there were devastating floods, expectations remain positive for H2 as consumers prepare for their traditional buying period,” the WGC said.

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'Enterprise information security spends to hit $1.9 bn in 2019'

Spending on information security products and services by companies in the country is expected to touch USD 1.9 billion in 2019 as they focus on building detection and response capabilities, a report said today.It is on pace to reach USD 1.7 billion in 2018, an increase of 12.5 per cent over 2017, according to the latest forecast from Gartner."Continued focus on building detection and response capabilities are bolstering security spending in India," said Siddharth Deshpande, research director, Gartner.Highly publicised and high-impact security incidents like the recent cyber theft at Pune-based Cosmos Bank, reinforce the need for organisations to treat security and risk management as a top business priority.Existing global data privacy regulations like the general data protection regulation (GDPR), as well as upcoming national-level regulations like the country's proposed personal data protection bill, are also raising awareness of security and risk management issues.The five key enterprise security product segments that will bolster growth in 2019, according to Gartner, are integrated risk management software, data security, infrastructure protection, identity and access management and network security equipment.The report also said that organisations continue to feel the pressure to find the right people with the right skills to grow their security teams, particularly given the 24/7 nature of security operations functions.This ongoing skills shortage, in turn, is driving demand for security services, particularly security outsourcing, managed security services and security consulting, according to Gartner.It estimated that the security services market in the country will grow from USD 885 million in 2018 to USD 1 billion in 2019, an increase of 13 per cent year on year."CISOs are increasingly concerned about the quality of security services currently available, creating an opportunity for new security services providers that can offer higher quality services," said Deshpande.

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शिवपाल के तीखे तेवरों ने मचा दी खलबली, जानिए क्या कहना है सपाईयों का

समाजवादी पार्टी में शिवपाल सिंह के तीखे तेवरों ने एक बार फिर उरई (जालौन) के दिग्गज सपा नेताओं में खलबली मचा दी है। माना जा रहा है कि भले ही लोकसभा चुनाव के लिए सपा और बसपा का गठबंधन हो जाए, लेकिन सपा की चुनौती कम होने वाली नहीं है।

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बाइक पर लिफ्ट देकर वृद्ध की जेब काटी

कदौरा। बाइक सवार टप्पेबाजों ने बिजली का बिल जमा करने आ रहे वृद्ध की जेब से तीन हजार रुपये पार कर दिए।

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महिलाओं से मारपीट कर बदमाशों ने जेवरात लूटे

उरई/कोंच। नए पुलिस कप्तान अरविंद चतुर्वेदी के चार्ज संभालते ही लूट के खुलासे की चुनौती उनके सामने आ गई है। बाइक सवार बदमाशों ने बुधवार को ताबड़तोड़ तमंचे के बल पर दो लूटों को अंजाम देकर पूरे पुलिस महकमे में खलबली मचा दी है।

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A top brokerage is coming back to Pakistan after 17 years

By Cathy Chan and Faseeh MangiCLSA Ltd. is returning to Pakistan after almost two decades, as the company controlled by China’s biggest brokerage steps up its expansion into markets that are part of the government’s Belt And Road Initiative.The Hong Kong-based firm agreed to buy a 24.9 percent stake in the securities unit of Bank Alfalah, which is backed by the World Bank’s International Finance Corp., according to a statement from CLSA Thursday. The joint venture will be chaired by Aliuddin Ansari, who was chief executive officer at one of Pakistan’s largest conglomerates and previously also CEO for the local unit of Credit Lyonnais Securities Asia (CLSA).Ansari and current Alfalah Securities CEO Atif Khan will acquire a combined 12.6 percent stake, with the deal expected to be completed by November.The transaction comes a year after Pakistan was upgraded from frontier to emerging-market status in MSCI Inc.’s global indexes, which fueled expectations that, along with investments from the $60 billion China-Pakistan Economic Corridor, the country would lure a wider class of investors. CLSA, the international brokerage of China’s Citic Securities Ltd., is pushing into markets including the United Arab Emirates and Bangladesh after setting up a 25 percent-owned venture in Sri Lanka in 2014.“The cost of entry into the market is reasonable and while it remains under-owned, it is a good time to establish a formal presence,” CLSA CEO Jonathan Slone said in an interview, while declining to share financial details. “Our strategy is to establish an on-the-ground presence in all major Asian markets, with a particular focus on markets in the Belt and Road Initiative.”CLSA exited Pakistan in 2001 due to “considerable instability” at the time, he said. Slone predicts the MSCI upgrade will boost flows into Pakistan even though the market “is currently small” and the short term outlook “remains challenging.”Pakistan’s benchmark KSE100 Index has fallen about 14 percent since MSCI’s move, amid economic and political instability. Finance Minister Asad Umar -- a former head of Pakistani conglomerate Engro Corp. who was succeeded in the role by Ansari -- told Bloomberg News this month the economy may need more than $12 billion to halt a looming financial crisis. He also promised to make all Chinese agreements public after criticism of Beijing’s opaque Belt and Road loan terms.CLSA’s Pakistan venture will be called Alfalah CLSA Securities Ltd. and provide equity broking, research and investment banking services.

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Jeff Bezos, Warren Buffett bet on a $250 billion unclaimed internet market

by Saritha RaiIndia’s long-neglected retail market is turning into one of the world’s hottest thanks to Warren Buffett, Jeff Bezos and a frenzy of billion-dollar dealmaking.Walmart Inc. just wrapped up a $16 billion agreement for control of the country’s leading e-commerce player, Flipkart Online Services Pvt., while Bezos’ Amazon.com Inc. negotiates deals with a large supermarket chain and an investment in a prominent retail conglomerate, according to local media. This week, Buffett’s Berkshire Hathaway Inc. agreed to acquire a stake in the company behind digital payments leader Paytm.Why the sudden interest in India? The new optimism is fueled by rising standards of living, increases in smartphone usage and cheap data plans that are boosting internet penetration across the nation. Perhaps most important, India is the last big retail market still up for grabs, with an internet economy projected to double to $250 billion by 2020."It’s a race for leadership,” said Anil Kumar, the Bangalore-based chief executive officer at researcher RedSeer Consulting. "There’s far more action in India compared with stable markets like China and the U.S."Online sales grew 23 percent last year and are up 40 percent so far in 2018, according to RedSeer. The organized retail market is under-penetrated, leading to tie-ups between online and offline players, and driving unprecedented levels of investments, Kumar said.India’s vast retail industry has no parallel other than, perhaps, China. But unlike the Chinese market, dominated by Alibaba Group Holding Ltd., India is relatively open and largely unconquered, offering global players vast opportunity to grow.India is now the world’s fastest growing major economy, and per capita incomes have been climbing steadily. According to a Forrester Research Inc. report earlier this month, the South Asian country is the world’s fastest growing e-commerce market.Amazon and Flipkart have cornered about three-quarters of the online Indian retail market, but other big players are getting aggressive. That’s meant heavily discounted offerings for consumers, although the substantial investments have crimped profitability.When Walmart announced the Flipkart deal earlier this year, S&P Global Ratings changed its outlook on the U.S. retailer to negative, saying that Flipkart was poised to generate losses in the next few years.“The appeal of retail lies in the population of India, the aspirations of India, the consumption power of India,” said Kishore Biyani, the billionaire chief executive of Mumbai-based retail conglomerate Future Group, which runs the 2,000-plus store Future Retail Ltd., including the country’s largest departmental chain.Biyani said his group’s online revenues are nearing $150 million. He and others predict that India’s retail industry will have a unique combination of online and offline tie-ups.Future Group is reported to have had negotiations about a stake sale with Amazon as well as Alibaba executives. Biyani refused to directly comment, simply saying he too is looking to “crack a deal like everybody else.” Amazon declined to comment and Alibaba didn’t respond to a request for comment.India’s Reliance Industries Ltd. is also fine-tuning its own e-commerce thrust by creating a hybrid online-offline retail platform.So far, retailers have only scratched the surface by roping in high-income customers in India’s large metropolitan cities. Rural areas and small cities offer fresh opportunity. The retail battle for Indian consumers will be on display again in early November during the festival of Diwali, India’s version of Christmas and Thanksgiving combined.Vijay Shekhar Sharma, founder and chief executive officer of the Alibaba-backed e-commerce company Paytm Mall, says he ultimately sees wide-ranging impact from the billions pouring into the industry. He predicts that small mom-and-pop shops will soon be armed with retail technology as well as cloud and payments products.Sharma is also the founder of One97 which runs the Paytm digital payments app. Berkshire Hathaway this week invested in One97, becoming the latest global player to bet that digital payments will surge as India’s increasingly affluent consumers shop online.“Indian retail will get digitized at an unprecedented scale," Sharma said. "Its every nook and cranny will get altered.”

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