Covid turns Asia into surveillance hotspot: Analysts

KUALA LUMPUR: Asia has become the world's surveillance hotspot and is at risk of serious privacy breaches as measures rolled out to contain the spread of COVID-19 become permanent in many countries, researchers warned on Thursday. The Right to Privacy Index (RPI) published by British-based risk consultancy Verisk Maplecroft, rated 198 countries for privacy violations stemming from mass surveillance operations, retention of personal data, home searches and other breaches. According to the findings, Asia was the world's highest-risk region for violations with a deterioration in recent years. "Asia as a region risks sleep-walking into serious privacy breaches if there isn't transparency when it comes to data use with respect to COVID-19 surveillance measures," said Sofia Nazalya, a human rights analyst at Verisk Maplecroft. Asian countries scored worse on average than nations in other regions, Singapore-based Nazalya, the author of the study, told the Thomson Reuters Foundation by phone. The pandemic has enabled authorities from China to Russia to increase surveillance and clamp down on free speech, digital rights experts say. Many countries have tightened border controls and imposed travel bans. Some have stepped up surveillance using artificial intelligence and big data, alarming human rights activists and data privacy experts. Among the worst-scoring Asian nations in the Verisk Maplecroft index were Pakistan, China, Myanmar, Thailand, Cambodia, India and the Philippines. In response to the COVID-19 health crisis, China took the biggest steps to track the virus using mass surveillance, Nazalya said, citing mandatory health apps becoming permanent and an increase in use of facial recognition technologies. "What is the point of making these apps permanent if there's no need to," Nazalya said. "It's a disproportionate response to a threat that arguably is no longer as big as it was." Also in China, authorities have used voice-activated drones to track COVID-19 hotspots, hovering over people and berating anyone seen breaking the anti-virus controls, she added. Cambodian authorities introduced emergency powers such as unlimited social media surveillance to tackle "fake news", which had often targeted government critics, Nazalya said. India, which was the only democracy to make downloading a COVID-19 tracking app mandatory with the threat of jail or fines, also plans to introduce a national database by 2021, which could worsen privacy rights, the report said. Asian countries often lack adequate oversight of mass surveillance systems and legislation to protect privacy, data rights advocates say. Although challenging, more governments should introduce data privacy laws and enforce them, Nazalya said, adding that businesses must not ignore the issue of deteriorating privacy rights as they bring both reputational and compliance risks. "The first step is for there to be that crucial push for civil society to really examine what needs to be done when we look at technology, data breaches and privacy," she said. "(But) in terms of the government looking at data privacy, there needs to be a transparency in how data is used, stored, who has access to your private data."

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Why Indian stocks usually do better post US polls

Mumbai: Indian stock indices are likely to rise further irrespective of the outcome of the US Presidential election in November if historical data is anything to go by.Data show the Sensex gained 3 per cent to 14 per cent during the six months after the US election outcomes in four out of last five occasions. What could go against the past trend this time is that the market has already risen 50 per cent in the past six months while economic uncertainties on account of the coronavirus pandemic remain.The post-election data for index performance for one month also showed indices gained in four out of five previous US elections.The 2000 and 2004 elections saw Republican George W. Bush being elected President, while Barack Obama was elected President in 2008 and 2012, followed by Donald Trump in 2016.Market strategists are of the view that India has nothing to worry about on geopolitical basis.“No matter who is the President, that person and the administration will seek to have closer relationships with important allies. (Joe) Biden has said he will organise a global summit for democracy, and it is possible that some in his party could view India in the same camp as Brazil, in other words a democracy that has evolved a strongly populist bent,” said Mark Matthews, head of Asia Research at Bank of Julius Baer from Singapore. “They may be less well-disposed to that than the classic liberal democracies of Western Europe, for example, whereas Trump being a populist himself is fine with that. Still, a Biden administration wouldn’t seek to isolate India. India is perhaps the most important ally of America in Asia,” said Matthews.

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Airtel fall overdone, reversal on the cards

Mumbai: Two leading brokerages said the 20 per cent decline in shares of Bharti Airtel in the last one month is overdone. CLSA and UBS maintained buy on the stock on Wednesday, with their price targets projecting as much as a 70 per cent upside. The stock ended down 3.3 per cent at Rs 420.9 on Wednesday.CLSA said its sensitivity analysis reveals that Bharti’s stock more than factors in the adjusted gross revenue burden risk of matching Jio’s post-paid and over-the-top offers and tariff hike uncertainty, said CLSA, which has a target price of Rs 715 on the stock.“There is no renewed tariff aggression from Jio, and Bharti market share has upside potential. Bharti active subscribers are ahead of Jio, while the stock valuation is at a 25-50 per cent discount to past EV/Ebitda multiples and Jio deal valuations,” said CLSA.Meanwhile, UBS’ Evidence Lab results showed that Airtel is making steady progress and the risk-reward is attractive.Airtel’s share as primary SIM has increased in the last 12 months with Vodafone India, in particular, losing share and seeing maximum downgrades after the tariff hike in December 2019, said UBS. The brokerage has a buy rating on Bharti Airtel and raised it to Rs 705 from Rs 655.“Bharti Airtel remains well capitalised and is generating positive FCF (free cash flows) making it our preferred pick in India telcos. Recent weakness in Airtel stock belie the steady improvement in Airtel’s RMS and financial performance as evidenced in recent quarters,” said UBS.The correction in the stock started after the Supreme Court directed AGR payments to be made based on the Department of Telecommunications dues rather than on operators' self-assessments. Highlighting advantage over Jio, CLSA said Bharti’s 32 per centrevenue market share has not seen any loss since Jio’s entry and ramp-up to 38 per cent share. 78414627“Bharti’s execution leaves upside potential to our forecast 200 bps share loss by FY23 because Vodafone Idea burdened by US$19 billion in spectrum and AGR payments (about 90 per cent higher than Bharti) is still vulnerable to share loss,” said CLSA.The foreign brokerage said Bharti’s stock is trading at a 25 per cent discount to its five-year average and it believes that Bharti is re-entering an outperformance phase.

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मध्यप्रदेश: वेंटिलेटर में धमाके के बाद लगी आग, ऑक्सीजन न मिलने से मरीज की हुई मौत

मध्यप्रदेश के शिवपुरी जिला अस्पताल में लापरवाही की बड़ी घटना देखने को मिली है। अस्पताल के आईसीयू वार्ड में बुधवार को अचानक हाईफ्लो ऑक्सीजन मशीन में धमाके के साथ आग लग गई।

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जम्मू-कश्मीर: पाकिस्तान ने फिर किया संघर्ष विराम का उल्लंघन, गोलीबारी में एक जवान शहीद

जम्मू के डिफेंस प्रवक्ता ने इसकी जानकारी देते हुए बताया कि कल रात कृष्णा घाटी में पाक द्वारा किए गए संघर्ष विराम के उल्लंघन में एक लांस नायक करनैल सिंह शहीद हो गए।

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Moderna's Coronavirus Vaccine Won't Be Ready Before US Elections: Report

US biotech firm Moderna won't seek an emergency use authorization for its coronavirus vaccine before November 25, its CEO told the Financial Times on Wednesday.

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Keeping villages at forefront of development in J&K

By Manoj SinhaMahatma Gandhi was trained as a barrister, but appearing before the court in his Great Trial in 1922, he identified himself as a farmer and weaver. This was his way of identifying himself with the masses, a great majority of whom depended on farming and lived in villages. He stressed on rejuvenation of village life in his Constructive Programme, which was his manifesto of Poorna Swaraj. For the Jammu and Kashmir administration, there can be no more befitting tribute to Gandhiji than taking governance to people in rural areas of the union territory. Thus, under the ‘Back to Village 3’ (B2V-3) scheme, we are launching a campaign on October 2 to take the government machinery to the citizen’s doorstep with a dedicated mission – ‘Samagra Gram Seva and Vikas’ – serving the villages to achieve equity, growth and inclusion.Such a mission cannot succeed without people’s participation. So, our emphasis is on community participation for execution of crucial growth drivers at the grassroots level. After reviewing the implementation of the first two phases, we have finalised a new strategy for B2V-3 for a cultural change in the delivery mechanism. Now, the administration will complete the pending programmes in a time-bound manner. We are also trying to have a robust roadmap to implement the transformational schemes and effective public service delivery architecture. We have also put in place a robust monitoring mechanism for the B2V-3 schemes. A dashboard will provide real-time online information for greater transparency and monitoring, and the progress report will be made available to the ‘awam’ of J&K.I have always believed that to promote growth along with human development, we need to have three basic ingredients: people’s participation, social equity and regional parity. The B2V scheme is guided by these three principles to achieve financial inclusion and social security that will further create a platform for accelerated growth in sectors like industry, agriculture, infrastructure and technology. Such initiatives articulate Prime Minister Narendra Modi’s vision of village empowerment.Traditionally, developmental works are imposed on villagers from the secretariat. Now, the locals will decide the order of the projects. The officials have been directed to spend time with villagers, seek their feedback and incorporate them in the plan document. For maximum governance, a 21-day ‘Jan Abhiyan’ (Awami Muhim) has been taken up, which will culminate in a seven-day B2V-3 programme. It has three components: Adhikar Abhiyan (Muhim Barai-e-Haqooq) for service delivery and 100% saturation of beneficiary schemes, Unnat Gram Abhiyan (Dehi Taraqiyati Muhim) for mega development push and Jan Sunwai Abhiyan (Awami Sunwai Muhim) for grievance redressal.As part of Unnat Gram Abhiyan, we are prioritising the execution of works. Many projects envisaged during B2V-2 have been completed. Some of the pending projects are being completed before October 2. Under Jan Sunwai Abhiyan, a Block Diwas is organised in every sub-division headquarters every Wednesday when all departmental functionaries are available at a notified place to ensure on-the-spot disposal of applications and redressal of grievances. The Adhikar Abhiyan focuses on delivery of individual beneficiary-oriented schemes and issuance of important certificates.We have two other unique initiatives. Every panchayat has been advised to procure sports kits. I believe the spirit of sports will bring youngsters together, build their confidence, and open new avenues for them.For sustainable Swachh Abhiyan, we have asked every panchayat to procure two garbage bins, one each for solid and liquid waste. At least two people per panchayat will be engaged under MGNREGA for collection and disposal of waste.As for the larger economic framework, we have announced a stimulus package to handhold businesses. We are taking administrative measures, creating a conducive regulatory environment to promote service entities and industries, and to remove logistics bottlenecks and other constraints.At the moment, our entire effort is focussed on improving the quality of life, education, healthcare facilities, skill development and capacity building for both rural and urban communities in J&K. Together we will achieve that – with Gandhiji as our guide.The writer is Lt. Governor of Jammu & Kashmir

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Startup founders bat for an Indian app store

NEW DELHI: A number of leading technology entrepreneurs are joining hands to petition the government seeking support to create an overarching Indian digital app ecosystem to counter what they view as the dominance of US technology giants Google and Apple. At a meeting on Tuesday, the group discussed ways to establish a large-scale platform that will host local apps and break the duopoly of Google's Play Store and Apple's App Store, as well as a national-level lobby group to represent their interests, people privy to discussions told ET.The founders, including Paytm's Vijay Shekhar Sharma, Yashish Dahiya of Policybazaar and Murugavel Janakiraman of Matrimony.com, also plan to approach the country's banking regulator as well as the finance ministry seeking redressal for Google's recent move to increase commission on purchases made on its app store.'App Neutrality'Sources said such a move by Google would sound the death knell for the Indian startup ecosystem. "If India has net neutrality, why can't we have app neutrality," said Janakiraman, who added that over 80% of those accessing the internet in India do so through digital applications and "it can't be completely controlled by Google since they own the Play Store.""A body monitored by the government can ensure app neutrality, fairness and openness," he added.Vishwas Patel, founder of payment gateway CCAvenue, said, "The government has to certainly step in and take the lead on this.""If there is some kind of restriction imposed due to geopolitical tensions, an Indian app store can save the day for everyone," said Patel who is also the chairman of the Payments Council of India, a payments-centred industry body.A government official said they have not received any request from the industry so far. "But we will take up the matter if they approach us," the person said. Google did not respond to fresh queries sent by ET.Terming the meeting as "an informal one" to collate issues from all stakeholders and identify grievances, CCAvenue's Patel said the next step would be to identify the right authority to approach for resolution of multiple issues.The group plans to approach the ministry of electronics and IT (MeitY) to push the case for an Indian app store while also approaching the Competition Commission of India, National Payments Corporation of India and the Central Board of Direct Taxes for other related grievances.The need for an Indian app store gains urgency in the backdrop of India's smartphone market being dominated by Google's Android operating system.Founders arguing against Google's move to enforce a 30% commission on in-app purchases said that current Indian laws don't allow any MDR (merchant discount rate) or transaction charge on UPI (Unified Payments Interface) transactions. "We are currently discussing which should be our first port of call," said Patel. Also present at the meeting were founders of startups like ShareChat and Innov8, sources said.The meeting was spurred by the 'abrupt way' in which Google decided to implement its policy. "The company is forcing developers to use its own payment gateway, it is also controlling how ads appear and there are issues on search; they seem to have an unabated power over the entire ecosystem which we are against," said Patel.

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Google notice to Swiggy, Zomato for violation of rules

MUMBAI | BENGALURU: Food delivery apps Swiggy and Zomato have received notices from Google stating that the in-app gamification feature used by both platforms violate its Play Store guidelines, multiple sources told ET.Zomato confirmed the development to ET and termed the notice “unfair”.“We are a small company and have already realigned our business strategy to comply with Google’s guidelines. We will be replacing Zomato Premier League with a more exciting programme by this weekend,” a company spokesperson said.A spokesperson for Swiggy declined to comment but said the restaurant discovery platform had temporarily paused its in-app gamification product. “Earlier, the notice was to comply with the guidelines by Thursday, but Google has given an extension. Swiggy has also asked for more clarity on Google’s policies,” a person directly aware of the matter said.For both the food delivery companies, major cricketing event IPL has been touted as the best time to garner a larger share of consumer minds as well as wallets, and gamification features were a part of increasing engagement on the app as Zomato and Swiggy do not operate any gaming platforms, industry experts said. Google did not respond to ET’s email till press time on Wednesday.The development comes 12 days after Paytm’s app was temporarily delisted from Google Play Store after the US-based technology behemoth said that the IPL-based cashback promotion flouted its anti-gambling policy. Vijay Shekhar Sharma, the CEO of Paytm, had in an interview to ET called out Google for enforcing “arbitrary” bans of mass-market applications without regulatory consultations despite being compliant with local laws.Sharma had called the control exerted by Google on the Indian internet space “an ecosystem concern.”

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India, China to hold 7th meet of commanders

New Delhi: India on Wednesday raised with China its refusal to recognise the status the Union Territory of Ladakh. ET has learnt that the matter was raised at Wednesday’s meeting of the Working Mechanism for Consultation and Coordination on India-China Border Affairs. India stated it has never accepted the so-called unilaterally defined 1959 Line of Actual Control.The two nations also agreed that senior commanders should meet soon to work out early troops withdrawal from eastern Ladakh in accordance with bilateral pacts and protocols.The two sides reviewed the situation on the Line of Actual Control in eastern Ladakh and had detailed discussions on developments since the August 20 WMCC meeting, an MEA statement said in New Delhi. The meeting discussed how to implement the ‘five-point consensus’ foreign ministers recently.“They emphasised the need to implement steps outlined in the joint press release issued after the last meeting of the senior commanders to avoid misunderstandings and to maintain stability on the ground. In this context, the need to strengthen communication, especially between the ground commanders, was emphasized. Both sides agreed to continue to maintain close consultations at the diplomatic and military level. They agreed that the next round of the meeting of senior commanders should be held at an early date so that both sides can work towards early and complete disengagement of the troops along the LAC in accordance with the existing bilateral agreement and protocols, and fully restore peace and tranquility,” the MEA statement said.The Indian delegation was led by foreign ministry joint secretary for east Asia while the director general of the Boundary & Oceanic Department led the Chinese delegation. The two sides positively evaluated the outcome of the 6th senior commanders meeting on September 21.In a related development, Chinese ambassador Sun Weidong told a webinar, “properly handling differences is the right way. The current situation in the border areas serves no one’s interests. We should implement the leaders’ consensus on not allowing differences to become disputes. China is committed to seeking a solution through dialogue and negotiation.”

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Glitch halts all trade on Tokyo SE

A technical problem forced a halt to all trading on Tokyo's stock exchanges on Thursday, with no information on when activity would resume, the bourse's operator said. "Trading in all shares on the Tokyo Stock Exchange is suspended due to glitches linked to the delivery of market information," Japan Exchange Group said in a statement. An official told AFP that trade was suspended from 8:35 am (2335 GMT Wednesday). Orders were also not being received. The precise nature of the glitch was not explained further, but it meant the country's top indexes -- the Nikkei 225 and the Topix -- were unable to open at the start of the trading day. The issue was also affecting trade on several other exchanges, including in Nagoya and Sapporo. The Osaka exchange was functioning normally though, Japan Exchange Group said. The trading halt closed one of the few major markets open in Asia on Thursday, with bourses in Hong Kong, Shanghai, South Korea and Taipei all closed for holidays. This is the first significant glitch for Tokyo's exchange since 2018, when a trading system problem left some securities firms unable to execute orders. But that issue did not halt all trade, having what was described as a limited effect on overall market activity for the day. The last time all stocks trade was suspended due to system glitch was on November 1, 2005, when trade was suspended for the whole morning session. The New Zealand Exchange was hit in August by cyberattacks that forced it to halt trading three times in as many days. The attacks also crashed the exchange website. The source of the attack was not immediately clear. kh-sah/qan

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10 Key Quotes From Babri Case Judgment In Which All Accused Acquitted

Thirty-two people including top BJP leaders LK Advani, Murli Manohar Joshi and Uma Bharti have been acquitted of conspiracy charges in a landmark verdict today in the Babri Masjid demolition case. A...

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Selection In Army Not Defined By Father's Ambition: Delhi High Court

A father's ambition does not define the standards for selection as a commissioned officer in the Indian Army, the Delhi High Court has held while refusing to direct Indian Military Academy (IMA) to...

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Covid mgmt: Odisha shows way with Ganjam turnaround

New Delhi: Even before the Covid-19 lockdown was announced, Odisha’s Ganjam district imposed Section 144 on March 15 to prevent crowding in public places.It was also the first district in the state to impose Rs 200 fine for not using a mask. The move had its desired effect. There wasn’t a single Covid-19 case in the district until May 1.However, things changed dramatically in early May as over 4.3 lakh migrant workers returned home by trains, buses and on foot. Many of them came from Covid-19 hotspots. The first e case was reported on May 1 and the numbers rose to over 700 by July end.A second wave hit Ganjam when migrants ended their quarantine period to join families, thereby bringing in milder viral loads to villages. By August, the district’s positivity rate stood at 59% --one of the highest in the country during that period.However, in September, Ganjam scripted a turnaround.It reported over 200 active cases and a positivity rate down to 1.27% from the worrying 60% mark.Ganjam’s district collector Vijay Amruta Kulange said “turning point” came with the state government deciding to delegate and decentralise Covid-19 management.“The decision to empower Sarpanches with the powers of the district magistrate has made all the difference, considering the kind of battleground we had at hand. If this was not done, we would be hugely overburdened, besides being flooded by complaints. The Sarpanches were given powers and responsibility and we held regular reviews to help them with resources. A very strong community engagement helped us execute a clear and responsive Covid management plan,” Kulange told ET over telephone.Homework, the effort started even before the virus hit the district.Before May 1, when the first case hit the district, the administration had a 200-bedded Covid-19 hospital with 50 ICU beds. By the end of April, the district was ready with 2,200 beds with dedicated Covid-19 healthcare facilities besides procuring oximeters, ventilators, oxygen supply and more.As many 531 Covid-19 care homes were set up to handle asymptomatic patients or those with mild symptoms. Around 128 ‘Panchayat’ ambulances were also deployed with oxygen support.Over 260 senior officials, including 130 doctors, were immediately deputed to assist the district as numbers rose. The key, however, was building strong community support.An army of 1,224 community volunteers called Covid Monitors, 706 Covid Bandhus (recovered patients who provide counselling) and 22,482 Covid Sakhis (SHG members) were deployed to generate awareness on the pandemic, identify symptomatic patients and high-risk groups. A management committee was set up in each village and a Covid-19 monitor was there for every ward to coordinate closely,” said the district collector. Six rounds of door-to-door surveys were held which helped identify near 53,000 persons with co-morbidities and high risks. Testing strategies focusing on them were worked out.78418107Testing was ramped up manifold as July threw up increasing numbers. Over 3.6 lakh tests have so far been conducted but there is a stronger reliance on antigen tests than RT-PCR.In terms of tests per million, Ganjam with 1,01,515.4 tests per million has done better than the overall state (58,759.2 tests per million) and the national-level tests (40,768.7 per million), according to the district administration.The “Ganjam model” reporting more than 97% recovered cases offer hope.

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Panel to vet all Chinese FDI proposals

New Delhi: India has set up a screening panel to vet all Chinese foreign investment proposals and those considered “non-controversial” could be approved, a senior government official told ET. More than 100 proposals involving foreign direct investment (FDI) from China are pending. Prior government clearance was made mandatory for FDI from countries sharing a land border in April. This was widely seen to be directed at curbing Chinese takeovers of companies amid stock market volatility in the wake of the Covid-19 pandemic. This scrutiny intensified following tension on the border.The screening panel is headed by the home secretary and has the Department for Promotion of Industry and Internal Trade (DPIIT) secretary as a member.“An inter-ministerial committee has been set up to look at the proposals that various ministries had received that were forwarded to the home ministry for security clearance,” said the official cited above. The proposals that are “non-controversial” could be approved after the committee examines proposals from the point of view of ownership and its implications for security, the person said.Prior Nod for Critical Sector InvestmentsFinance minister Nirmala Sitharaman told ET in an interview on Tuesday that there was no ban on Chinese investments. “If there is this feeling that is coming that we have stopped investors from a particular country, no we have not done any of that,” she had said, adding that investments are being regulated but not stopped.FDI from China was $2.4 billion or 0.51% of the total between April 2000 and June 2020.78418033DPIIT notified the new FDI policy on April 18. “An entity of a country, which shares land border with India or where the beneficial owner of an investment into India is situated in or is a citizen of any such country, can invest only under the government route,” it stipulated. This was aimed at “curbing opportunistic takeovers/acquisitions of Indian companies due to the current Covid-19 pandemic.”Prior government approval or clearance by the ministry of home affairs is required for investments in critical sectors including defence, satellites, mining, civil aviation, media, private security agencies and telecommunication.The government will have to determine the security criteria and also look at it from the perspective of data theft, experts said.“Security grounds could also refer to the activities of the company and how it treats data. The government will have to ensure that the data does not go into wrong hands,” said one of them.A Delhi-based expert on investment issues said, “Security is a broad term and it might be difficult to determine it. Will the government go up the entire chain to check for beneficial ownership or look for links with the Chinese government or the military?”

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Bihar Election 2020: सीटों के पेच में उलझ गए हैं दोनों गठबंधन, बिखराव रोकने की कवायद तेज

बिहार चुनाव में राजग गठबंधन को बिखरने से रोकने की कवायद तेज हो गई है। अभी लोजपा अलग राग अलाप रही है। राजग गठबंधन के लिए सीट बंटवारा आसान नहीं है। गठबंधन के बाद अब सीटों का पेंच भी पेचीदा है।

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गरीबों नहीं, खुशहालों को मिल रहा बिजली सब्सिडी का लाभ, शोध में मिले चौंकाने वाले आंकड़े

झारखंड में गरीब परिवारों को मिलने वाली बिजली सब्सिडी का दोगुने से ज्यादा फायदा संपन्न परिवारों को मिल रहा है।

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शोध में खुलासा: कोरोना वायरस को रोकना है तो स्वच्छता के साथ खुली हवा जरूरी

कोरोना वायरस के हवा में  संचरण और बंद जगह में इसके प्रसार को लेकर जॉर्जिया विश्वविद्यालय ने शोध किया है।

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दीपिका, सारा और श्रद्धा को क्लीनचिट नहीं, एनसीबी के रडार पर कई सितारे

अभिनेता सुशांत सिंह राजपूत की मौत मामले में ड्रग एंगल की जांच कर रही एनसीबी ने अभिनेत्रियों दीपिका पादुकोण, सारा अली खान और श्रद्धा कपूर को क्लीनचिट नहीं दी है।

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IPL 2020: पिछली हार के गम को भुलाकर नए जोश के साथ मैदान पर उतरेंगे मुंबई और KXIP

आईपीएल के 13वें सीजन का 13वां मुकाबला गुरुवार को मुंबई इंडियंस और किंग्स इलेवन पंजाब के बीच खेला जाएगा।

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IPL 2020: KKR की जीत में चमके गिल और मावी, राजस्थान को 37 रन से हराकर रोका विजय रथ

दुबई में खेले गए आईपीएल 2020 के 12वें मुकाबले में कोलकाता ने दिल्ली को 37 रनों से हराकर सीजन की दूसरी जीत दर्ज की। 

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अनलॉक 5.0: केंद्र की राज्यों को कठोर हिदायत, दिशा-निर्देशों से छेड़छाड़ पर दंड और जुर्माना

देश में एक अक्तूबर से अनलॉक 5.0 लागू हो रहा है। केंद्रीय गृह मंत्रालय ने बुधवार को इसके लिए गाइडलाइंस जारी कर दी हैं।

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Karthik Hails "Incredible" Mavi, Nagarkoti After Youngsters Shine vs RR

IPL 2020: KKR skipper Dinesh Karthik was full of praise for youngsters Shivam Mavi and Kamlesh Nagarkoti, praising them for giving their best efforts for the toughest of catches along with some...

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रिलायंस रिटेल को मिला तीसरा निवेशक, जनरल अटलांटिक करेगी 3,675 करोड़ का निवेश

जियो प्लेटफॉर्म्स में निवेश जुटाने के बाद अब मुकेश अंबानी अपनी रिटेल कंपनी के लिए फंड जुटाने में लगे हैं। मुकेश अंबानी के स्वामित्व वाली कंपनी रिलायंस रिटेल को अपना तीसरा निवेशक मिल गया है।

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Share Market Today: गिरावट पर खुला शेयर बाजार, 38000 के नीचे पहुंचा सेंसेक्स

आज सप्ताह के तीसरे कारोबारी दिन यानी बुधवार को शेयर बाजार लाल निशान पर खुला। बॉम्बे स्टॉक एक्सचेंज का प्रमुख इंडेक्स सेंसेक्स 27.21 अंक यानी 0.07 फीसदी नीचे 37946.01 के स्तर पर खुला।

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In UP Gang-Rape Tragedy, 2.30 AM Cremation By Cops As Family Was Kept Out

A 20-year-old woman, who died on Tuesday in Delhi two weeks after she was gang-raped and tortured in Uttar Pradesh's Hathras, was cremated by policemen last night, allegedly as her family was locked...

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All-New Honda H'Ness Premium Motorcycle: What To Expect

Honda Motorcycle and Scooter India (HMSI) is all set to launch its all-new premium motorcycle on September 30, 2020. Here's what you can expect.

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First Debate: An acrid tone from the opening minute

WASHINGTON: After more than a year of circling each other, Republican President Donald Trump and Democratic challenger Joe Biden met on the debate stage Tuesday night in Ohio.The 74-year-old president and the 77-year-old former vice president are similar in age, and they share a mutual dislike. But they differ starkly in style and substance. All of that was evident from the outset on the Cleveland stage.Here are key takeaways from the first of three scheduled presidential debates before Election Day on Nov. 3.TRUMP'S SERIAL INTERRUPTIONSTrump is no stranger to going on offense, but his aggressive posture on stage left his Democratic opponent fighting to complete a sentence. Trump frequently interrupted Biden mid-sentence, sometimes in intensely personal ways."There's nothing smart about you," Trump said of Biden. "47 years you've done nothing."While Trump played into his reputation as a bully, it may have been effective at breaking up the worst of Biden's attacks, simply by talking over them.Trump aides believed before the debate that Biden would be unable to withstand the withering offensive on style and substance from Trump, but Biden came with a few retorts of his own, calling Trump a "clown" and mocking Trump's style by asking, "Will you shut up, man?"His supporters may have been cheered by Trump's frontal assault. Whether undecided voters, who watched the debate to try to learn about the two candidates, were impressed is another matter.Moderator Chris Wallace was none too amused, delivering a pointed reproach to Trump for his interruptions. "Frankly, you've been doing more interrupting," Wallace said, appealing to Trump to let his opponent speak.TRUMP CAN'T ESCAPE THE VIRUSTrump has wanted the election to be about anything but the coronavirus pandemic, but he couldn't outrun reality on the debate stage."It is what it is because you are who you are," Biden told the president, referring to Trump's months of downplaying COVID-19 while he said privately he understood how deadly it is.But Trump didn't take it quietly. He proceeded to blitz Biden with a mix of self-defense and counter-offensives. 200,000 dead? Biden's death toll would have been "millions," Trump said. A rocky economy? Biden would've been worse. Biden wouldn't have manufactured enough masks or ventilators.The kicker: "There will be a vaccine very soon."Biden fell back on his bottom line: "A lot of people died, and a lot more are going to unless he gets a lot smarter."For voters still undecided about who'd better handle the pandemic, the exchange may not have offered them anything new.QUESTION ABOUT COURT, ANSWER ABOUT HEALTH CARETrump defended his decision to nominate Amy Coney Barrett to the Supreme Court just weeks before Election Day, saying "elections have consequences."Biden said he was "not opposed to the justice," but said the "American people have a right to have a say in who the Supreme Court nominee is."But rather than litigate Republicans' 2016 blocking of Merrick Garland to the high court, Biden quickly pivoted to the issues that will potentially come before the court: healthcare and abortion. It's an effort by the Democrat to refocus the all-but-certain confirmation fight for Trump's third justice to the Supreme Court into an assault on Trump and his record.Biden said Barrett, who would be the sixth justice on the nine-member court to be appointed by a Republican, would endanger the Affordable Care Act and tens of millions of Americans with preexisting conditions, and would imperil legalized abortion. It was a reframing of the political debate to terms far more favorable to the Democrat, and one Trump played into. Trump said of the conservative Barrett, "You don't know her view on Roe vs. Wade" and he defended his efforts to try to chip away at the popular Obama-era health law.Biden has tried to press Democrats to use the court confirmation fight as a rallying cry against Trump, and the debate discussion largely played out on his turf.`INVISIBLE' WALLACE STRUGGLES TO CONTAIN TRUMPDebate moderator Chris Wallace of Fox News tried mightily to hold his ground Tuesday after saying beforehand that it was not his job to fact-check the candidates, especially Trump, in real time.But Wallace struggled to stop Trump from interrupting and at times seemed to lose control of the debate."Mr. President, as the moderator, we are going to talk about COVID in the next segment," Wallace said.Soon after: "I'm the moderator, and I'd like you to let me ask my question."Minutes later: "I have to give you roughly equal time. Please let the vice president talk."And when Wallace noted that Trump hasn't come up with his health care plan in nearly four years, Trump turned the question back on Wallace."First of all, I'm debating you and not him. That's okay. I'm not surprised."Wallace said he wanted to be "invisible."Well, that was impossible.RACIAL RECKONINGTrump said Biden was the politician who helped put millions of Black Americans in prison with the 1994 crime law. Biden called Trump "the racist" in the race.Biden was quiet as Trump blitzed him as a tool of the "radical left" and a weak figure who opposes "law and order." He pressed Biden repeatedly to name any police union that's endorsed him. He falsely accused Biden of wanting to "defund the police."Biden didn't capitalize when Trump refused to condemn armed militias, insisting: "This is not a right-wing problem. This is a left-wing problem."The former vice president tried to push back, but not until after Trump had made his arguments, including the misrepresentations.Biden regained some footing mocking the president's warnings about suburbs, saying, "He wouldn't know a suburb unless he took a wrong turn." And perhaps revealing the thinking about allowing Trump the rhetorical upper hand, Biden said, "All these dog whistles and racism doesn't work anymore."FAMILY BUSINESSAs expected, Trump found a way to bring up Hunter Biden, the former vice president's son, and recycle allegations about the younger Biden's international business practices. Biden called Trump's litany "discredited" and fired back, "I mean, his family we can talk about all night."But Biden sidestepped any of the specifics of Trump's international business dealings and instead turned straight to the camera. "This is not about my family or his family," Biden said as Trump tried to talk over him. "This is about your family."In a later exchange, Trump interrupted Biden when he was talking about his late son, Beau Biden, who died of cancer in 2015 after having served in Iraq."I don't know Beau, I know Hunter," Trump said.

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Why Concor is stock pick of the week

The pandemic has affected the logistics industry badly. Just like other logistic companies, Container Corporation (Concor) also reported a weak set of numbers for the first quarter of 2020-21. Its revenue and net profit for the quarter fell by 27% and 73% respectively y-o-y. The company is expected to report weak numbers in the second quarter too since the export – import (Exim) rail cargo transport is still down y-o-y. However, analysts see a bottoming out trend here, as the 8% fall in August was significantly lower than the 21% y-o-y cut reported in June. Concor’s volumes are expected to get normal from the third quarter and this can be the first trigger for the counter.To overcome short term difficulties and improve margins, the management is taking several steps. It wants to improve its realisation per transaction by offering a complete logistics package to its customers. In addition to providing first mile – last mile logistics in all its terminals, Concor also plans to build mobile applications to facilitate customer tie-up. Avoiding bidding for low margin short distance cargo movement is another margin boosting measure.With unmatched presence across the country, Concor will be a direct play on the upcoming large rail freight infrastructure project, Dedicated Freight Corridor (DFC). Though DFC’s completion date is pushed back from December 2021 to June 2022, due to Covid induced disturbances, this Rs 81,000 crore project will boost Concor’s revenues. DFC will improve train’s turnaround times and will help rail logistic players like Concor to gain market share against the road players.The company is also on the privatisation list and any action by the government on this front can be the next long term trigger for the counter. While cost efficiencies brought in by new private management are expected to improve its fundamentals further, privatisation can also bring in re-rating due to sentiment changes. However, as a precursor for privatisation, Indian Railway has increased land licence fees by more than five times and this will increase the cost burden of Concor.Investors can ignore its high trailing PE, which is placed at 102.11 now, as the entire logistic industry is reporting losses or very low profits. PE ratio based on 2021-22 earnings, on the other hand, can be a good valuation tool – Concor’s PE is placed only at 12.23 times. This is reasonable for a company that is expected to report 25% plus annualised volume growth in the next few years, between 20021-22 and 2024-25 – due to the commissioning of DFC. 78331024 78331034 Selection methodologyWe pick up the stock that has shown the maximum increase in “consensus analyst rating” during the last 1 month. Consensus rating is arrived at by averaging all analyst recommendations after attributing weights to each of them (ie 5 for strong buy, 4 for buy, 3 for hold, 2 for sell and 1 for strong sell) and any improvement in consensus analyst rating indicates that the analysts are getting more bullish on the stock. To make sure that we pick only companies with decent analyst coverage, this search will be restricted to stocks with at least 10 analysts covering it.(Graphics by Abdul Shafiq/ET Prime)

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India’s super-rich see wealth grow 20% during Covid

NEW DELHI| BENGALURU: India’s super-rich have grown their wealth by 20% during Covid, which is twice as fast as the growth in the net market capitalisation of all listed companies. Also, the number of people having more than Rs 1,000 crore in the IIFL Wealth Hurun Rich List has increased by 94 in 2020 to 828.Mukesh Ambani, chairman of India’s most valued company Reliance Industries, continues to top the list with a wealth of Rs 6.6 lakh crore. His total wealth increased by 73% in the last 12 months, making him the richest Asian and the fourth-richest in the world.The cumulative value of the 828 individuals on the list stood at $821 billion (Rs 60,59,500 crore), an increase of $140 billion (Rs 10,29,400 crore) over the 2019 count, a large part of which was due to the rise in share price of Reliance Industries.Among the startups, with a wealth of Rs 13,100 crore each, Amod Malviya, Sujeet Kumar and Vaibhav Gupta — former Flipkart executives — had their wealth increase by 274% on account of strong investor interest in their new venture Udaan, a B2B e-commerce portal, and topped the list of biggest gainers for the second consecutive year. The valuation of Udaan increased from Rs 20,000 crore in October 2019 to Rs 52,500 crore in February 2020. 78397026Interestingly, many professionals were featured too. These included Thomas Kurian of Google Cloud who, with a wealth of Rs 1,300 crore, topped this list. Others of Indian origin include Ajaypal Singh Banga of Mastercard (Rs 7,200 crore), Nikesh Arora of Palo Alto Networks (Rs 6,500 crore), Satya Nadella of Microsoft (Rs 5,900 crore), Sundar Pichai of Alphabet (Rs 5,900 crore), and Indra Nooyi formerly of PepsiCo (Rs 3,500 crore). With Rs 3,200 crore, Ignatius Navil Noronha of Avenue Supermarts is the richest CEO based in India.The cut-off for the top 10 rose by 6% to Rs 76,000 crore this year. Top 100 individuals in the list account for nearly 64% wealth of the latest edition of the rich list for 2020.The ninth edition of the IIFL Wealth Hurun India Rich List 2020 compiled the richest individuals having a wealth of Rs 1,000 crore or more as on August 31, 2020. However, Hurun India MD and chief researcher Anas Rahman Junaid felt that this was not an exhaustive list. He said, “Assuming that for every one Hurun rich lister we have found, we have probably missed two, it is likely that India today has 3,000 individuals with Rs 1,000 crore”.Among the sectors, pharmaceuticals, with 122 super-rich individuals on the list, leads the pack, followed by chemicals & petrochemicals with 55 individuals and software & services with 50 individuals. Automobile & auto components, food & beverages, manufacturing, construction & engineering, etc, are some of the other significant contributors to the IIFL Wealth Hurun India Rich List 2020. Interestingly, this time the super-rich came from 111 cities of the country.

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NBFCs are back in the game, almost

Mumbai: Non-bank lenders such as Shriram Transport, Indiabulls Housing Finance, the Edelweiss and IIFL Finance groups have begun selling securitised loans in the run-up to the end of a six-month payments standstill — and theoretical resumption of business as usual in last-mile lending.About 30-40 transactions involving the securitised portfolios, or bundles of marketable loans, have been reported in the run-up to the September 30 deadline for the end to the repayment holiday on loans. These transactions amount to hundreds of crores of rupees, an industry estimate showed.Total industry securitised down-selling volumes could swell to a minimum of Rs 15,000 crore in the July-September quarter, which will be more than double in the preceding three months.ICICI Bank, Union Bank, Bank of Baroda, Canara Bank, and LIC of India are among the buyers or potential buyers, market sources told ET. Individual banks and financial institutions could not be contacted immediately for comments.“Our disbursements have significantly gone up on a month-on-month basis prompting us to raise more money,” said Umesh Revankar, managing director at Shriram Transport. “We have done a securitisation deal after a gap of five-six months for a pool of non-priority loans.”Shriram Transport has sold a portfolio of commercial vehicles to LIC of India, in which it may have earned a spread or interest rate differential of as much as 8 per cent. The company has disbursed about Rs 3,000 crore of loans in September versus Rs 1,750 crore a month earlier.“With unlocking gathering pace, we see our disbursements rising in September,” said Gagan Banga, managing director at Indiabulls Housing Finance. “We are in discussions to raise the money needed to fund such credit expansions. Selling a pool of home loans is a part of it, which is now making a comeback (in the industry).”Indiabulls Housing will likely raise about 600 crore through securitisation of assets this month.“NBFC funding requirements have gone up after the moratorium ended,” said Abhishek Dafria of ICRA Ratings. “With the easing of lockdown curbs, those companies began to disburse more credit in September, much higher than in the past five-six months.” Securitisation of assets is, therefore, back in vogue, he said.Deals worth a mere Rs 7,500 crore took place in the first quarter, compared with Rs 50,300 crore in the year-ago period, according to estimates by rating firm ICRA.Sale of asset pools happens in two ways: Direct selling or Direct Assignment (DA) and the issuance of Pass-Through Certificates (PTCs).Both modes are being offered. Financial institutions are looking for assets with no past history of defaults, which is known as Zero Day Past Due (ZDPD) in market parlance.

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Get set, go! Motown gears up for festive rush

Mumbai: LUV – we seem to be re-learning the alphabet everyday as economists of all stripes try to explain the trajectory of the economic recovery underway. But for a true assessment of the prevailing consumer sentiment, it’s best to visit an auto dealer: They are finally doing good business because of strong recovery.Car, two-wheeler and tractor makers are set to register unit volume growth of 15-30 per cent in September, the quickest pace of growth in two years, building on the growth registered in August.At 2.8-2.9 lakh, the car market is set to witness a 26-30 per cent growth, the highest in 27 months. Two-wheeler dispatches of 1.88 to 1.9 million would mean a growth of 15 per cent, the highest seen in 24 months. In tractors, sales of 100,000 to 110,000 units would be the highest absolute level in 11 months, likely registering a growth of 20 per cent year on year.The strong growth numbers are on account of sustained demand for personal mobility, healthy offtake in rural areas and inventory push by vehicle makers ahead of Navratri, Dussehra and Diwali.For the greater part of the year, retail was higher than wholesale due to supply chain disruptions. But in September, dispatches are higher than retail due to the inauspicious Shradh period during which buyers refrain from taking car deliveries.Shashank Srivastava, ED, sales and marketing at Maruti Suzuki, told ET that while it may not be proper to conclusively comment on September sales, it is likely that wholesale dispatches would exceed retail significantly. “The subdued retails may be in line with expectations because of the Shradh month followed by the Adhik Maas. And equally expectedly good wholesales would be a reflection of normalised production and that of dealers increasing stock levels in preparation for the upcoming festival period,” he added.To be sure, car retailing for September is seen at around 2.3 lakh, which is flat when compared with August, but lower than in September 2019.Rakesh Sharma, ED at Bajaj Auto declined to give specific numbers but said retail sales for the industry in September are likely to be flat. While there would be a growth, it is likely to be on the basis of dispatches which have been pushed to be ready for festive season. “September of 2019 is not directly comparable to September of 2020. Last year September, the number of inauspicious days were fewer and the tail end of the month saw the first few days of Navratri which supports retails, but this year, the entire 15 days of Shradh or inauspicious period was in September and there were no festive days, which reflects in the retail,” added Sharma.However, the booking and enquiry momentum has not slowed down, with most seeking deliveries during festivities, even as retails are expected to be lower than dispatches.Nomura expects Maruti’s domestic sales volume at 150,000; Emkay sees domestic volumes for Maruti at 142,000 in September. Growth rates across segments are expected to appear significantly higher because of the low base of last year.

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हाथरस मामला: परिवार का विरोध, पुलिस ने आधी रात जबरन कराया पीड़िता का अंतिम संस्कार

दिल्ली से बिटिया का शव भारी सुरक्षा के बीच रात करीब पौने एक बजे गांव लाया गया। प्रशासनिक अधिकारियों की मंशा थी कि सुबह होने से पहले शव का अंतिम संस्कार करा दिया जाए

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US Presidential Debate 2020: बिडेन का हमला, कहा- ट्रंप रूसी राष्ट्रपति पुतिन के हाथों की कठपुतली

अमेरिका में तीन नवंबर को होने वाले राष्ट्रपति पद के चुनाव को लेकर पहली प्रेसिडेंशियल डिबेट शुरू हो चुकी है।

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Joe Biden Calls Trump A "Clown" During US Presidential Debate

US Democratic presidential challenger Joe Biden called Republican incumbent Donald Trump a "clown" on Tuesday as tension boiled over in the pair's first televised debate ahead of the November...

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"China, India Don't Ever Give You Straight Count": Trump On Covid Deaths

Democratic challenger Joe Biden attacked US President Donald Trump over COVID-19, at the first Presidential debate. He said about "7 million contracted the virus. The President has no plan."

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Startups accuse 'gatekeeper' Google of not playing fair

BENGALURU | MUMBAI: Indian startups are up in arms against the Google Play Store for forcing apps with in-app purchases to use its "expensive and unaffordable" billing system. Google levies a 30% commission against 1.5-2% levied by external gateways. While the policy has always been in place, it's only now being enforced in India. This will affect dating, education, video and music-on-demand, and other apps that rely on in-app purchases but not those for physical deliveries such as ecommerce.'30% is Tax, Not Commission'The startups say it's unfair exploitation of the Play Store's monopoly that stems from the dominance of Google's Android operating system. "It will badly affect us - 30% is tax, cannot be called commission!" said Snehil Khanor, CEO of TrulyMadly, a dating app. "They say we provide an ecosystem but we get the downloads through ads. For many small companies, it can be an existential threat."Google said developers can use websites to transact with consumers or opt for other app stores in the market."Let me clarify. There are other ways in which they can go find the subscription," said Purnima Kochikar, director, business development, games and applications, Google India. 78397260"They have multiple store options... multiple ways to sell the subscription option. There are several Indian developers who have websites where they sell subscriptions. There are people who are using multi-platform ways where they're selling. All of that is possible." She said the policy will only impact 3% of the apps on the Play Store.Razorpay co-founder and CEO Harshil Mathur said the commission would make things tough."A 30% commission on in-app payments is exorbitant and could kill so many businesses in India," he said. "While an Indian app store is a logical alternative, India requires a broader policy framework to find a more permanent resolution."Google has control over many layers between customers and their service providers as more than 90% use Android phones, the Internet and Mobile Association of India (IAMAI) said in a release."The Indian founders' community is on fire at the announcement of the policy. IAMAI is seeking a meeting with its founder members to understand their concerns and to resolve them," the lobby group said.Enforcement of the new policy is contrary to Indian laws, according to Vishwas Patel, chairman, Payments Council of India."Just because Google owns the gate and the gateway to the digital ecosystem... they should not reject Indian apps who are using RBI-recognised payment aggregators and payment gateways," he said. "Google should not use a dominant position, rather (it should) allow a level playing field for everyone in the ecosystem." With inputs from Surabhi Agarwal

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"Paid Millions Of Dollars In Taxes," Says Trump At US Presidential Debate

United States President Donald Trump today said he "paid millions of dollars in taxes" at the first Presidential debate.

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"Will You Shut Up Man!": Joe Biden-Trump Face-Off At Presidential Debate

Democratic challenger Joe Biden on Tuesday branded President Donald Trump a liar and told him to "shut up" as the pair clashed in a bad-tempered start to their first televised debate.

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Need a holistic approach to handling economy: FM

New Delhi: Finance minister Nirmala Sitharaman said there is a need to have a “holistic” approach to handling the economy instead of a “silo-based and myopic approach with blinkers”, responding to a query if it’s time to rethink inflation-targeting and focus more on growth and employment.The government is looking at various ways to provide support to the economy and a fiscal stimulus is possible, she said, while declining to specify any timeframe. “We are definitely looking at different ways in which we can again give some support. I have said that I have kept my mind open about it,” Sitharaman said.Economic activities are reviving though it is too early to tell if the uptick will sustain. “As opposed to what happened in the first quarter, this quarter we are seeing actual revival. It will be too early for me, based on this, to conclude as to how the year will end. We'll have to wait and watch,” the FM said, adding that the government was not waiting for the Covid situation to improve before taking more measures.The government is studying the Vodafone judgement and is yet to take a decision on whether to appeal, Sitharaman told ET in an hour-long interview. “Whilst no one ever denies the right of any sovereign government to decide on amending anything, our faith lies in amendments, but prospective application. We don't believe in retrospective application and that was more than once clarified by Mr Jaitley,” she said, adding that on rolling back the amendment the then finance minister had said that the matter was in court.‘IBC Process Shouldn’t Get Diluted’On the issue of interest waiver on loan moratorium, she said the Supreme Court has been informed that a report from a committee headed by former Comptroller & Attorney General Rajiv Mehrishi is being studied. Asked if the courts should be getting into an issue like this, she said her concern would be to see that the court is seized of all the facts related to how banks function and how depositors need to be cared for in this extraordinary situation.“My concerns would be on that. And I think to an extent, about the depositors and particularly the... economic situation in which the economy is in and the trouble that they are undergoing are well in the cognizance of the court. To that extent, I can see that the court has taken their situation very well into their cognizance,” she said.Commenting on the Enforcement Directorate opposing JSW Steel’s acquisition of Bhushan Steel through the insolvency process, the minister said that though the message going out is not ‘helpful’ she is aware of the facts and there is no intention to send out any negative message about the insolvency law.“My interest is to make sure the IBC process doesn't get diluted in this process… because the IBC has given a good solution," she said.On the issue of stock markets being out of sync with the fundamentals of the economy, Sitharaman said she is not going to judge if the stock market is right or wrong while pointing to the high retail interest as evident from new accounts being opened.“That reality also tells me that probably observation by some people that the stock market is not connected with the ground reality is probably not right. Retail investors coming in such numbers means something is there. Some connect is there. It’s worth watching.”Asked about the global shift away from inflation targeting and emphasis on growth and employment in the monetary policy framework, Sitharaman said there is a need for a more holistic look at the economy.“There is more than one reason now for the economy to be not looked at in silos in which it was looked at in all these years… because each has an interplay into the other. And if the interplay is not allowed, you may not have a fair solution coming, a solution which will have an impact on every side of the economy," she said.The monetary policy framework, which is coming up for review in March, 2021, has set an inflation target of 4% (with (+)2%/ (-) 2%) band for the monetary policy committee.In the case of Vodafone arbitration ruling, it’s a ‘point well taken’ that some experts are saying not appealing the decision will be seen as an investor-friendly move. “We are looking at the judgment, we also understand the appeal has to go to Singapore, if at all we choose to. But, we have not taken a call yet," she said.

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कोरोना की मार.. डिज्नी का बड़ा फैसला, थीम पार्क के 28 हजार कर्मचारियों की होगी छंटनी

कोरोना महामारी के कारण दुनियाभर में बेरोजगारी बढ़ने का सिलसिला बढ़ता ही जा रहा है। अब मनोरंजन क्षेत्र की दिग्गज कंपनी डिज्नी ने अपने थीम पार्कों से 28 हजार कर्मचारियों की छंटनी करने की घोषणा की है।

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महामारी से मौतें सिर्फ संख्या नहीं... हमने अजीजों को खोया, जिनसे हम प्यार करते थे

कोरोना महामारी से दुनियाभर में दस लाख से अधिक लोगों की मौत हो चुकी है। दुनियाभर के लाखों घरों में मातम पसरा है। भारत में दुनियाभर की तुलना में संक्रमण की दर सबसे तेज है। अब तक 96,318 जानें जा चुकी हैं।

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IPL 2020: बल्ले से भी विकेटकीपर कर रहे बल्ले-बल्ले, टीम की जीत में निभा रहे अहम भूमिका

विकेट के पीछे जिम्मेदारी निभाने वाले विकेटकीपर आईपीएल 2020 में बल्ले से भी बल्ले-बल्ले कर रहे हैं। आठ टीमों में से पांच के विकेटकीपर खूब धूम मचा रहे हैं।

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बिटिया हम शर्मिंदा हैं ...दिल्ली से हाथरस तक लोगों में उबाल, प्रदर्शन, सड़क जाम

हाथरस की बिटिया के साथ दरिंदगी और उसके बाद हुई उसकी मौत को लेकर दिल्ली से हाथरस सहित देश भर में गुस्सा है।

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IPL 2020: राशिद की फिरकी में फंसी दिल्ली, हैदराबाद की तीन मैचों में पहली जीत

सनराइजर्स हैदराबाद ने मंगलवार को दिल्ली कैपिटल्स को 15 रन से हराकर तीन मैचों में पहली जीत हासिल की जबकि दिल्ली की यह तीन मैचों में पहली हार है

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Poco C3 Price in India Allegedly Tipped via Leaked Retail Box Images

Poco C3 price in India has been tipped through leaked images of an allegedly retail box, as shared by a tipster on Telegram. As per the leak, the Poco C3 will be priced at Rs 10,990 for the 4GB +...

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No directional trend in US market for next 3 wks?

I do not think that President Biden is just going to sign off on all those huge tax measures willy-nilly and if he did, then it would be very damaging. But I believe Trump’s second term is going to be very radical, says Manish Singh, Chief Investment Officer, Crossbridge Capital LLP. How crucial will be the presidential debate tomorrow between President Donald Trump and Joe Biden?What I would say is that the risk of contested elections is definitely rising given the narratives which are being put in place and, of course, postal ballet is a significant thing this time. Having said that, I would say the risk may be overplayed as well because a lot of people will over interpret. I still see the Covid-19 causing people to take some risk off the table. I do not think that there is a second wave. This is just a resumption of the spread from the first wave because we got locked down and when we restarted, it is going to spread again and that is what is happening. For me in terms of the direction of the market, it is going to be a sideways market from here until the US election. There are no two things about it. You are going to see these rallies like you had on Friday from oversold levels. But again, once you get another 5 points up, people are going to sell again and this is going to happen until the elections. I do not see any directional trend in the market for next three weeks at least. What is your view on the coronavirus stimulus relief package because House Speaker Nancy Pelosi said on Sunday that the last minute coronavirus aid deal still remains on the table. I strongly believed that we would see a deal before the end of September which obviously is not happening from where things are. I would put only a 50% probability that they will do a deal before the election date. After the election, whoever wins, there will be a deal because they will help the US consumer. This could be now used as a weapon. The Democrats think that you do not want to send a cheques to everyone’s home with President Trump’s sign on it. Maybe they will keep it back and not deliver but then they are taking a big risk because they could be accused of not helping the people and that is something that Nancy Pelosi now has to decide. But the probability of a deal before the election is only 50%. Earlier, there was as high a chance as 80-90%. I have lost faith that they will do a deal before the election but it is still possible and not as likely as I thought before. We do not know who the next US president is going to be but Joe Biden has already hinted that higher taxes for corporates will be very much on his radar.One thing I can tell you that Trump second time around is going to be extremely radical. What I hear from my friends in the US is that the second term of the US president is going to be very radical to the extent that people may not even contemplate. I have a very strong belief that the US will become a low-tax country, a bit like what the UK is trying to do, a huge cut on regulations are coming down the line. It will be extremely simulative for the economy and for businesses and for corporates. And on the other hand if President Biden comes in, then clearly you expect the taxes to go up. But I do not expect that even President Biden will go full flow in terms of what the likes of Elizabeth Warren wants them to do in terms of increasing the taxes massively because that will be very damaging to the economy. I do not think that President Biden is just going to sign off on all those huge tax measures willy-nilly and if he did, then it would be very damaging. But I believe Trump’s second term is going to be very radical.

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Indo-Pacific, Asean policies under one unit

NEW DELHI: Keeping China in focus, India is bringing together its Indo-Pacific and Asean policies under a single unit, with the ministry of external affairs creating a new vertical, which includes a new Oceania territorial division with Australia at its centre, as well as including the Indo-Pacific and Asean divisions within it.Essentially, the move is intended to align policies in the region stretching from western Pacific (with the Pacific islands) to the Andaman Sea and the very area China regards as its strategic backyard and is jostling for influence with its smaller neighbours and the US. By focusing administrative and diplomatic attention, India wants to signal its own focus on the region.Reenat Sandhu, additional secretary and formerly India’s ambassador to Italy, will head the new vertical, assisted by two senior directors, Geetika Srivastava and Paulomi Tripathi. The geopolitical sweep and messaging is important as it indicates India's priorities over a longer timescape even as the timing of the decision in the current context of heightened military tensions with China in Ladakh is significant. It signals a meshing of Indian interests with key blocs and nations in the Indo-Pacific. 78374414The Oceania division will include Australia, New Zealand and the Pacific islands and sources said this gives Australia greater prominence within MEA. Australia has been growing in importance in India’s foreign policy, but within the MEA structure, it was part of the ‘South’ division. With the rejig, Australia gets bumped up to be handled by an additional secretary, rather than a joint secretary.This was felt to be necessary with Australia playing a larger role in India’s outreach to this region and because of the Quad. Including the Pacific islands in the division, sources said, acknowledge them as also being within Australia’s sphere of influence. These islands are now a major destination for Indian diplomatic interest and development assistance.Foreign secretary Harsh Shringla has continued to sharpen MEA’s approach to this crucial region in Indian foreign policy. In 2019, former foreign secretary Vijay Gokhale created the Indo-Pacific division to include Asean, Quad and Indian Ocean Rim Association. Earlier, the MEA had created the Indian Ocean division, bringing together Sri Lanka, Maldives, Mauritius and Seychelles. In late 2019, MEA included Madagascar, Comoros and Reunion Islands into the IOR division, expanding its ambit.

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States to physically verify PM-Kisan beneficiaries

New Delhi: The Centre has asked states to physically verify 5% of PM-Kisan scheme beneficiaries randomly to ascertain that money has gone to bona fide farmers. There have been complaints that some money has been transferred to ineligible farmers.The minimum income support scheme, under which farmers get Rs 6,000 annually in three equal instalments, has excluded income tax payees, retired and serving government employees other than in Group D, professionals such as doctors, lawyers, chartered accountants, public representatives like serving and former parliamentarians, and other people from higher economic status.“The scheme is being audited by the CAG (Comptroller and Auditor General). We have asked states to provide us the payment details and conduct physical verification of 5% beneficiaries to assess whether money is going in the right hands. They will randomly select beneficiaries and track them at their homes,” an agriculture ministry official, who deals with the scheme, said on condition of anonymity.The government has disbursed more than Rs 93,000 crore directly in farmers’ bank accounts since the launch of the scheme in February 2019. “We have the highest beneficiaries from Uttar Pradesh (26.4 million), followed by Maharashtra (11.07 million) and Madhya Pradesh (8.18 million). This data is digitally verified by state governments. Now the central government wants to know the gap if any within the data,” said the official.The Centre is already in the process of designing a mechanism in consultation with state governments to identify beneficiaries who are in the exclusion list.The official said it has come to the government’s notice that many state and central government’s serving and retired employees are getting benefits of PM-Kisan scheme.“We have written to the Public Financial Management System under the finance ministry to share data of central government employees. We can then match the data with the PM-Kisan list of beneficiaries to identify such central government salaried employees who are getting benefitted. We will write to state governments also,” said the official.

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Triggers for construction stocks may bear watching

ET Intelligence Group: The S&P BSE Infrastructure Index has underperformed the S&P BSE Sensex index in the past three and six months. Despite this, analysts have started re-rating select construction stocks. So, could there be triggers which can generate investors’ interest in construction stocks?Analysts point out two fundamental triggers. One, in the third quarter of this financial year, state governments will start awarding incremental projects. Second, analysts foresee increased interest of mutual funds in select construction stocks after Sebi’s directive on multi-cap schemes changing their allocation to mid- and small-caps to at least 25 per cent each in their portfolios.Besides, in recent months, construction companies have shown resilience. According to various analyst estimates, execution has improved to 70-90 per cent in the past three months from below 30 per cent. Also, labour availability has improved to 60-90 per cent. This is quite advantageous for well-placed construction companies with relatively light balance sheets and order books which give revenue visibility for the next three years.Liquidity issues, too, are being addressed. According to an estimate by Nomura, the government’s liquidity-easing measures have provided around Rs 34,600 crore to construction companies. The brokerage estimates an additional liquidity of Rs 2,500 crore to flow in the sector in the coming months.Brokerage Philip Capital said in its report, “We believe that the infrastructure sector is at the cusp of a big upcycle. The fundamentals are strong (balance sheets, order books), execution activity is picking up and order award momentum remains strong. To top it all, stocks are currently trading at abysmally inexpensive valuations and would deliver significant returns over the next 12-18 months akin to the run-up during the 2014-15 cycle in our opinion.”Analysts prefer companies such as KNR Constructions, PNC Infratech, Dilip Buildcon and Ashoka Buildcon given their strong order book, well-financed projects and relatively better balance sheets.

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Sept power demand up 3% over last year

NEW DELHI: India’s electricity demand in September increased about 3% year-on-year, signalling improved economic activity albeit on a low base. Demand in August was 2% lower than that a year ago.Power demand on several days of September was higher than that a year ago, data available with grid operator Power System Operation Corporation (Posoco) showed.Demand in industrial states such as Gujarat and Maharashtra improved over last year’s but was lower than in September 2018. India had registered a slump in power consumption for five months from August 2019 till January this year.In Gujarat, power demand improved 4% year-on-year while in Maharashtra it was down 1%. In Maharashtra and Gujarat, electricity demand was about 9% lower than in August 2019. In July this year, Maharashtra had reported a 12% slump in its power demand year-on-year while demand in Gujarat was down 17%.Electricity demand from northern states such as Punjab, Uttar Pradesh and Jammu & Kashmir continued to be high.In September, demand in Goa was about 17% lower, in Daman & Diu 2% and in Dadra Nagar Haveli 5% from that a year ago. The other states to have reported reductions in electricity demand year-on-year in September are Karnataka (13%), Odisha (5%) and Delhi (about 3%).Electricity consumption in Tamil Nadu was 2% lower year-on-year, while in Telangana it fell 3%.Demand improved more than 20% in Madhya Pradesh, 6% in Bihar and 12% in Jammu & Kashmir.India’s power demand grew at the slowest pace of 1.1% in 2019. In December 2019, the country’s power demand fell 0.5% from the year-ago period, representing the fifth straight month of decline, compared with a 4.3% fall in November 2019.

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सुशांत सिंह राजपूत मामला: हत्या या आत्महत्या, एम्स पैनल ने सीबीआई को सौंपी रिपोर्ट

सूत्रों का कहना है कि पिछले 40 दिनों में सीबीआई के निष्कर्षों के साथ एम्स पैनल के निष्कर्षों की पुष्टि की जा रही है।

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Zohra Sehgal: गूगल ने डूडल बना मशहूर अभिनेत्री जोहरा सहगल को किया याद

गूगल ने मंगलवार को प्रतिष्ठित भारतीय अभिनेत्री और नर्तकी जोहरा सहगल के सम्मान में उन्हें याद करते हुए डूडल बनाया। सहगल देश के पहले कलाकारों में से थी, जिन्हें अंतरराष्ट्रीय स्तर पर ख्याति प्राप्त थी।

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At Least 5 Iraqi Civilians Killed In Anti-US Rocket Attack

Three Iraqi children and two women from the same family were killed Monday when a rocket targeting Baghdad airport, where US troops are stationed, fell instead on their home, the army said.

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IPL 2020: RCB Seal Dramatic Super Over Victory Against MI

IPL 2020, RCB vs MI: Virat Kohli hit the final boundary to seal the Super Over victory for Royal Challengers Bangalore against Mumbai Indians at the Dubai International Stadium.

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For COVID-19, India's 'Feluda' Better Than Rapid Antigen Test: Scientists

More accurate than a rapid antigen test and almost as quick, India's CRISPR 'Feluda' COVID-19 test that changes colour on detection of the SARS-CoV-2 virus could be a cheaper, faster and simpler...

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WHO Aims To Provide 120 Million Rapid Coronavirus Tests For Poorer States

Some 120 million rapid tests for Covid-19 will be made available to poorer countries at $5 each, the World Health Organization announced Monday -- if it can find the money.

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Bihar CM Nitish Kumar in full election mode

New Delhi: Bihar chief minister Nitish Kumar, who is also Janata Dal (U)’s national president, has fully moved into election mode, and is attending to party workers daily in the party office in Patna for the last one week.Party insiders said he had been discussing the campaign in each assembly constituency with other leaders and making localised plans. Apart from the party workers, CM Kumar has been regularly holding meetings with ‘Kshetriya Prabharies’ (regional coordinators) who handle party affairs in three-four districts.“He underlines the need for door-to-door campaigning for reaching out to voters in order to make them aware about the pro-people schemes launched by his government, particularly the ‘Seven Resolves’ programme,” a person at the JDU office told this reporter.Kumar also reminds the party leaders about the guidelines issued by the Election Commission of India in the wake of the Covid-19 pandemic, he said.“Unlike the past, there is no chance of holding big rallies or public meetings in these elections. So, CM Kumar wants to motivate his party workers to remain in direct touch with the voters and highlight the achievements of the state government before them,” the person said. He also gives tips to his party functionaries about different ways to reach out to voters in the current situation, he added.Party insiders said Kumar had collected feedback about his government’s decision on prohibition of alcohol in the state. The JDU has been trying hard to consolidate its SC/ST votes after its decision to ban alcohol — the decision has apparently affected a section of the SC/ST community in the state.The party has tasked its prominent SC faces with making the community aware about the various schemes meant for their economic development.

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Room for rate cuts, inflation to be lower in 2021: BoA

India still has room for further interest rate cuts as inflation is likely to be lower in the first two quarters of the next calendar year, said Jayesh Mehta, country treasurer at Bank of America. Higher inflation is a temporary phenomenon, reflecting the pandemic-induced supply shock, Mehta tells Saikat Das and MC Govardhan Rangan. Edited excerpts:Where are the interest rates headed?We believe there is still some room for rate cuts despite the fact that there might be some temporary disruptions due to higher food and fuel inflation. We see at least 50 basis points drop in benchmark yields and 25 basis points fall in the repo rate. The main reason being, inflation is going to be lower in the first and second quarters of 2021.What should be the message from the Reserve Bank of India (RBI) to the market after the benchmark bond devolved four times?The market expects RBI to come out with some sort of rationale for its policy decisions to comfort market participants who are otherwise making their own interpretations. In these uncertain times, it’s best for the RBI to provide clarity.If we do not see some support from the RBI ahead of the policy meeting, then yields may start inching up.What are the various interpretations of the market?While the governor has given indications about yield movement, the MPC has hinted about rising inflation. If the focus is going to be on inflation, the situation will remain challenging as food prices are rising globally. A school of thought suggests, for the time being, may be, the RBI should stay away from inflation targeting.Will inflation cool off?The current higher inflation is a result of supply side disruption with a higher weightage for food and fuel CPI. After December, we expect inflation should fall substantially, particularly in Q1 2021.Between inflation and fiscal deficit, which one is a bigger worry?Inflation is more about where the policy rate should be, and fiscal deficit does not matter beyond a point. We must understand that the market has a limited capacity. It has a limited appetite. If borrowing goes above a particular level, then it has to be monetised.When do you expect credit growth to pick up?Not immediately. Many companies and individuals are struggling with their existing credit. At this juncture, unless the business confidence comes back, it is unrealistic to expect capex to begin. In absence of the usual business, companies are borrowing more for working capital. Hence, credit growth is unlikely to pick up in the current year.Do banks have any role to push credit expansion?Banks will have to be proactive and flexible while extending the credit limits of good quality borrowers. Of course, they must take into consideration credit risk and follow all the rules and regulations while expanding credit lines.What transpires out of the latest restructuring plan?The loan restructuring is a completely different aspect where banks need some hand-holding. One cannot blame corporates for the restructuring because it’s happening due to the pandemic induced economic crisis.However, some industries can legitimately qualify for the re-cast, which is a different case altogether.What needs to be done to revive the economy?First, a lower interest rate is crucial for growth and will help people survive in the aftermath of the pandemic. Hence, a rate cut and its timely transmission are needed.Second is credit. Banks need to be a bit liberal in terms of credit assessments. Companies are uncertain about their own future and are unable to provide business projections. In such a situation, lenders need to trust brands with which they have been doing business for a long time and accordingly extend credit.There is surplus liquidity. What effect will it have especially when credit demand is poor?Surplus liquidity is bad when the credit growth is expanding because it impacts inflation. However, as of now, that is not the case (of credit growth).More importantly, surplus liquidity builds risk appetite. If you have surplus liquidity with deployment issues then you don’t mind going down the credit curve. That is how the credit risk appetite is built.Where do you see the rupee?With dollar weakening, overseas flows have been coming into India. However, the dollar weakness seems to be fading now. Unless there is clarity on the pandemic, we have to live with uncertainties. In such a situation, the rupee is likely to remain volatile for at least three months from here.Where do you see RBI standing as a central bank among its peers?The RBI governor is quite clear about targeting inflation while supporting growth. Sometimes, operational challenges may come in terms of the “timing”, as observed over the last few months or so.If we look outside of India – look at Indonesia where 50 percent of the country’s borrowing has been lapped up by its central bank. The RBI hasn’t bought even 5 percent of India’s borrowing. Similar is the situation with a lot of central banks around the world and hence, we believe, RBI is doing the right thing.Is the recent criticism of the RBI from market participants justified?We believe the criticism is unfair just because the RBI is doing OMOs citing surplus liquidity. We seldom hear such voices when other central banks openly support government borrowing programmes to manage yields.The RBI should continue doing what it feels is right, and support the government borrowing programme.

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हिमाचल में 23000 विद्यार्थियों ने छोड़ा सरकारी स्कूल, रिपोर्ट में खुलासा

हिमाचल में सरकारी स्कूलों को मजबूत करने में जुटी प्रदेश सरकार को यू डाइस रिपोर्ट ने बड़ा झटका दिया है। साल 2019-20 में प्रदेश भर में 23,000 विद्यार्थियों ने सरकारी स्कूल छोड़ दिया है।

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सुप्रीम कोर्ट आज करेगा पूर्व मुख्यमंत्री महबूबा मुफ्ती की बेटी इल्तिजा की याचिका पर सुनवाई

जम्मू-कश्मीर की पूर्व मुख्यमंत्री महबूबा मुफ्ती की रिहाई पर आज (मंगलवार) को सुप्रीम कोर्ट में सुनवाई होगी।

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Petrol Diesel Price: आज फिर घटे डीजल के दाम, जानें कितने रुपये चुकाने होंगे

सरकारी तेल कंपनियों की ओर से आज डीजल के दामों में बदलाव किया है आज डीजल के दाम 8 पैसे तक घटे हैं। जबकि पेट्रोल की कीमत में कोई बदलाव नहीं किया गया है। इसकी कीमतों में पिछले सात दिनों से कोई फेरबदल नहीं हुआ है।

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झीरम घाटी नक्सली हमला: छत्तीसगढ़ सरकार की याचिका पर सुप्रीम कोर्ट में सुनवाई आज

25 मई 2013 में छत्तीसगढ़ के बस्तर जिले की झीरम घाटी में हुए नक्सली हमले को लेकर सुप्रीम कोर्ट आज सुनवाई करेगा। इस हमले में कांग्रेस के कई नेताओं समेत 29 लोग मारे गए थे।

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Donald Trump Likely Exceeded Law With TikTok Ban: Judge

The US judge who stopped a ban on TikTok downloads from kicking in on Monday said that President Donald Trump likely overstepped the law with the attempted move.

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गुजरात: वडोदरा में देर रात निर्माणाधीन इमारत गिरी, मलबे में दबकर तीन लोगों की मौत

गुजरात के वडोदरा में सोमवार देर रात एक निर्माणाधीन इमारत के गिरने से तीन लोगों की मौत हो गई। जानकारी के अनुसार, यह हादसा वडोदरा के बावामनपुरा इलाके में हुआ। स्थानीय प्रशासन की ओर से मलबा हटाने के लिए अभियान चलाया जा रहा है।

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चुनाव आयोग की बैठक आज, 64 विधानसभा और एक लोकसभा सीट पर उपचुनावों की तारीखों का हो सकता है एलान

देश में अभी 64 विधानसभा सीट और एक लोकसभा सीट के लिए उपचुनाव होने हैं। इन 64 विधानसभा सीटों में से 28 सीटें मध्यप्रदेश की हैं। चुनाव आयोग इन सीटों पर उपचुनाव कराने को लेकर आज एक बैठक करेगा।

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उत्तराखंड: पीएम मोदी आज करेंगे नमामि गंगे की योजनाओं का ऑनलाइन लोकार्पण

प्रधानमंत्री नरेंद्र मोदी मंगलवार को उत्तराखंड में नमामि गंगे कार्यक्रम के तहत तैयार परियोजनाओं का ऑनलाइन लोकार्पण करेंगे।

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मुंबईः एमएलए हॉस्टल में बम होने की सूचना, पुलिस ने खाली कराई इमारत

महाराष्ट्र की राजधानी मुंबई में सोमवार देररात एक धमकी भरा फोन आने के बाद पुलिस ने एमएलए हॉस्टल की इमारत को खाली करा लिया। जानकारी के अनुसार पुलिस को फोन पर इस इमारत में बम होने की सूचना मिली थी।

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Sushant Singh Rajput case: रिया कैसे चुका रही हैं सतीश मानेशिंदे की फीस, खुद बोले अभिनेत्री के वकील

सुशांत सिंह राजपूत की मौत का मामला अब तक कई मोड़ ले चुका है। इन दिनों इस मामले के ड्रग्स एंगल की जांच एनसीबी कर रही है।

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UN Chief Calls For Immediate End To Armenia, Azerbaijan Clashes

UN Secretary-General Antonio Guterres on Sunday said he was "extremely concerned over the fresh resumption of hostilities" between Armenia and Azerbaijan in the Armenia-backed breakaway region of...

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ET Wealth | Best investments for your daughter

Covid was raging and several parts of Mumbai were locked down, but that didn’t stop Sarika Sinha from giving her daughter the best gift a parent can. Last month, the Mumbai-based finance professional opened a Sukanya Samriddhi Yojana account for her daughter Praashvi. “I will put the maximum Rs 1.5 lakh in this scheme every year,” she beams. Financial planners say the Sukanya scheme is a good option for parents with daughters below 10 years. “The scheme offers assured returns so there is a predictable compounding of the investment every year,” says Prableen Bajpai, Founder and Managing Partner, FinFix Research & Analytics. “What’s more, the interest is fully tax free. Parents should not let go of this opportunity,” she adds.While the Sukanya scheme is indeed a good investment, the problem is that it may not be enough to save for the education that Sinha has in mind for her daughter. The scheme has a Rs 1.5 lakh annual investment ceiling. Also, it offers 7.6% interest right now, though this could change in future. Assuming an interest rate of 7.5% per annum, Sinha’s investments would grow to about Rs 46.5 lakh when two-year-old Praashvi is ready for college after 16 years. That’s a sizeable sum, but will fall well short of the targeted Rs 1.1 crore. Education inflation in India is very high, with costs escalating almost 9-10% every year. The Rs 25 lakh needed for college today would have risen to nearly Rs 1.1 crore by 2036.To augment Praashvi’s college kitty, Sinha and her husband have started SIPs in two equity funds and a hybrid scheme. They are putting Rs 12,500 a month in the three schemes. “We have assumed conservative compounded returns of 10% over the next 16 years,” she says. The investments would grow to around Rs 60 lakh in 16 years, complementing the Rs 46.5 lakh corpus of the Sukanya scheme.If you are also saving for your daughter’s education, use a mix of equity funds and debt instruments to reach your goal.Praashvi2 years, Mumbai 78332207Goal 1: Rs 1.16 crore for higher education in 16 yearsThe higher education that Sarika and Rockenjit Sinha plan for their daughter costs Rs 25 lakh today but its infl ation adjusted value after 16 years will be Rs 1.16 crore. They have opened a Sukanya Samriddhi Yojana account recently and will invest Rs 1.5 lakh in it every year. Since the goal is long term, they have also started SIPs of Rs 12,500 in two equity and one hybrid fund.Goal 2: Rs 2.17 crore for marriage in 25 yearsThe Sinhas are targeting a corpus of Rs 2.17 crore (Rs 40 lakh at today’s prices). For this very long term goal, they plan to start SIPs in a couple of equity and hybrid funds. Assuming compounded returns of 9%, they need to invest Rs 20,000 per month. If that’s high, they can start with Rs 12,500 a month and increase by 5% every year.Risk of rupee depreciationThe Sinhas have assumed education inflation of 10%. But the costs could escalate more for someone aiming at foreign education for her child. The depreciation of the rupee against major currencies will add to her burden.As a hedge against currency depreciation, financial planners are now advising such clients to invest in foreign stocks or buy funds with exposure to foreign markets. “A parent who plans to send her daughter abroad for education should have about 30% of her equity portfolio in foreign assets,” says Deepti Goel, Associate Partner in a Delhi-based financial advisory firm Alpha Capital.One can open an account with a foreign brokerage house or an Indian entity which facilitates such investments. Many such outfits have mushroomed in the past few months. Leading Indian brokerage houses also have tie-ups with foreign brokers.It’s much simpler to invest in ETFs linked to foreign indices. Motilal Oswal, for instance, has a Nasdaq ETF that is traded on the stock exchanges in India like any other share. All you need is a demat and trading account with a broker. Motilal Oswal S&P 500 Index Fund is an open-ended scheme that replicates the S&P 500 index. You could also invest in mutual funds with some portion of their corpus invested in foreign stocks. For instance, the Parag Parikh Long Term Equity Fund invests almost 25% of its corpus in US stocks, including Amazon, Alphabet and Facebook. But you will have to keep a close watch on these funds and the US markets.Early bird advantageWhether you are investing in fixed income schemes or market-linked options, keep one cardinal rule in mind: the earlier you will start, the easier it will be to reach your target. You will not only have to invest less, but won’t have to take very high risks with your money. Atul Tater (see picture) started saving for his daughter’s education when she was only one year old. He bought three life insurance policies that would mature around the time Anoushka was ready for college in 2022. “Fifteen years ago, it wasn’t easy putting away Rs 3 lakh a year,” he says. “But my daughter’s education was an important goal for us.”Anoushka16 years, Delhi NCR 78332214Goal: Rs 90 lakh for higher education in 2 yearsAtul and Preeti Tater started saving for their daughter’s education when she was only a year old. They have invested in a mix of traditional life insurance policies and equity mutual funds. Since the goal is coming near, they are gradually shifting their mutual fund corpus from equity schemes to debt and liquid funds.Tater realised that his insurance policies alone will not help. Life insurance companies use absolute returns very effectively by highlighting the huge maturity amounts of traditional endowment policies. The investor misses the impact of inflation. If we assume 5% inflation, in 10 years the purchasing power of Rs 10 lakh reduces to Rs 6.1 lakh. In 15 years, it is less than Rs 5 lakh.The maturity amounts seemed huge when Tater was buying the insurance policies, but inflation has reduced their purchasing power. So he also invested in a mix of equity and hybrid funds to boost the corpus. Though his investments earned good returns, Tater has been prudent in managing the risk. “The goal is just two years away so I need to reduce exposure to volatile investments,” he says. In the past one or two years he has gradually reduced the exposure to equity funds and moved to the safety of debt and liquid funds.Retired PSU manager G.S. Prasad (see picture) is also playing it safe with the Rs 25 lakh he has saved for his daughter Sunitha’s marriage. “About two years ago I pulled the money out of equities and put it in fixed deposits,” says the Bengaluru based retiree.Sunitha 25 years, Bengaluru 78332215Goal: Rs 25 lakh for marriage next yearRetired PSU manager G.S. Prasad started moving out of equities two years ago. His entire portfolio, including the Rs 25 lakh needed for his daughter’s marriage, is in fi xed income instruments. Unlike most parents, Prasad doesn’t want his daughters to follow the conservative allocation of his portfolio. Rather, he has advised them to invest in equity funds through SIPs.Enlighten and empowerApart from saving money for their education and other goals, parents can give something far more valuable to their daughters. They can empower their girls to become self sufficient in handling their finances and managing their investments. “A parent can transform his daughter’s financial life by teaching her the basics of personal finance. A child who learns about money management early in life is better prepared for the challenges in the real world,” writes Preety Pruthi, Director in MyMoneyMantra (see guest column).Financial empowerment will also help your daughter choose the right investments for her goals. Prasad advises Sunitha on financial matters and has introduced her to equity funds through SIPs. Though he is conservative with his own investments, he is not imposing his choices on her. Indeed, there’s no reason why the portfolio of a 25-year-old engineer earning a good salary should mirror that of a retired person. “I am looking for safety at 61. But at 25, her investments should be geared towards longterm growth,” he says.Financial literacy will not only protect your daughter against frauds and misselling, but even safeguard her rights at the workplace and at home. As Pruthi points out, no school or college teaches money management skills, so the responsibility is squarely on you as a parent to mould your child’s financial future. Don’t keep your daughter away from financial discussion in the family. Make her as much a part of money decisions as anybody else in the family.Thumbnail graphic by ET Prime/Muhabit Ul Haq

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Why momentum investing is not for all

Indian equity investors will soon get a taste of momentum investing. UTI Mutual Fund has filed papers for a first-of-its-kind offering, UTI Momentum Index Fund. Should you get onto the momentum investing bandwagon that has been a phenomenal success in recent years?Chasing pricesMomentum investing essentially involves buying winners and selling losers. In other words, buying stocks that have been performing the best while weeding out recent laggards. Cut your losses and let your winners run. It is based on the premise that stocks that have gone up (or down) in the recent past will continue to go up (or down) in the near term. As Vidya Bala, Head – Research, Primeinvestor.in, points out, “Capturing momentum is all about riding an established trend.” This approach is diametrically opposite to value investing—a philosophy that has gained much more prominence. In value investing, investors prefer stocks that are currently trading below their intrinsic value and may have fallen out of favour. The premise here is that since the stocks are already trading at low prices, they offer better margin of safety while potentially offering higher upside over the long run. Momentum investing upends this philosophy to suggest that buying stocks that are in vogue will deliver best results in the near term. It encourages more short-term thinking than the traditional long-term ‘buy and hold’ approach. 78331596Does it work?The numbers speak for themselves. For investors in India, momentum has enjoyed a solid run for over a decade now. The Nifty200 Momentum30 index, which comprises 30 stocks that have delivered highest outperformance has comfortably outperformed the frontline Nifty50 index across time frames. Over the past decade, the Nifty200 Momentum30 index has delivered 14.5% annualised returns even as the Nifty50 index has yielded 6.5%. Over the past five years, the momentum-based index has clocked 13.5% relative to the 7.6% annualised returns of the Nifty50 index. Clearly, the momentum-driven approach has demonstrated outperformance. Existence of momentum is considered a well-established empirical fact with evidence dating back more than 200 years in the US markets. This hard data predates many of the other established investing philosophies. Bala asserts, “Momentum strategy is a tactical ploy in times of a narrow market breadth, as it makes picking stocks easier when company fundamentals do not provide any answers.”Yet, this strategy has not received acclaim among the wider investor community. Unlike the religious following of value investing, this investing style remains on the fringes despite strong evidence in its favour. It remains an alien concept among common investors in India. Arun Kumar, Head – Research, FundsIndia, explains, “Despite being a proven concept, momentum has not gained currency as it involves a lot of churn. Mutual funds have not been able to crack it as this strategy cannot be scaled up at higher base without the incidental costs.”However, this strategy is harnessed effectively by savvy investors. In fact, several fund managers routinely ride the momentum wave to deliver returns to investors. Most fund managers in the country profess to abide by the ‘growth at reasonable price’ framework—buying stocks that offer high growth visibility without paying through the nose for that perceived growth. This is supplemented with a purported preference for long term. However, many fund managers do have an overlay of momentum in a portion of the fund portfolio. They keep rotating in and out of winners to generate that alpha that investors constantly seek.Is momentum for you?Clearly, there is a strong case for momentum investing. However, investors need to exercise caution. Every investing strategy goes through phases. While momentum has enjoyed a strong run for many years now, it should not be construed as a surefire way to create wealth. It has its flipside. While momentum can outperform spectacularly during a market uptick, it tends to hurt equally on the downside when the market corrects. “Momentum is essentially about chasing prices. The problem with this strategy is you don’t know when the tide will turn,” says Vikas Gupta, Chief Investment Strategist, OmniScience Capital. By the time a downtrend is captured, the damage may already be done.Data from Capitalmind reveals that a simple momentum strategy yielded 139% return in 2007 and 108% in 2017 when the Nifty50 index only gained 53% and 28% respectively. On the other hand, the momentum strategy registered a loss of 78% in 2008 when the Nifty50 tanked by 51%. While it visibly outperforms over longer time frames, the outperformance comes at the cost of higher volatility and larger drawdowns in the short-term. Investors who cannot stomach this volatility may find it unsuitable.Experts insist momentum by itself is a risky play, without the backing of fundamentals. Gupta remarks, “The basic flaw in this strategy is that it ignores fundamentals. You keep buying at elevated prices but it will not be long before you find that the emperor was not wearing any clothes.”Graphics by Abdul Shafiq/ET Prime

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