Heartbreaking Photo Shows US Doctor Comforting Elderly Covid Patient

Joseph Varon, a doctor treating coronavirus patients at a Texas hospital, was working his 252nd day in a row when he spotted a distraught elderly man in the Covid-19 intensive care unit (ICU).

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China To Build Major Dam On Brahmaputra That Could Impact India: Report

China will build a major hydropower project on Brahmaputra river in Tibet and a proposal for this has been clearly put forward in the 14th Five-Year Plan to be implemented from next year, the official...

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Immunity: Make This Lemon-Ginger Rasam Recipe For A Soul-Satisfying Treat

If you also enjoy soups in winter like us, you ought to try this stellar recipe that quashes the age-old myth that Indian food cannot be healthy.

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After Controversial Campaign, Hyderabad Votes In Local Body Polls

After more than a week of intense and vitriolic campaign, over 74 lakh eligible voters are set to take part today in the elections to the Greater Hyderabad Municipal Corporation or GHMC. Polling began...

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कोराना वैक्सीन: हर व्यक्ति को टीके की दो खुराक पर 400 रुपये खर्च करेगी सरकार

कोरोना वायरस का टीका आने में भले ही अब चंद दिनों का वक्त बचा हो लेकिन सरकार ने इसे लेकर अपनी योजना को अंतिम रूप देना शुरू कर दिया है।

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हैदराबाद निकाय चुनाव: मतदान जारी, ओवैसी बोले- लोकतंत्र को मजबूत करने के लिए वोट करें

इस चुनाव में 150 सीटों पर 1,122 प्रत्याशी मैदान में हैं। मतों की गिनती चार दिसंबर को होगी। 

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कोरोना के बीच जापान पर बर्ड फ्लू का कहर, 18 लाख से ज्यादा मुर्गियों को मारा जाएगा

दुनिया अभी कोरोना वायरस का दंश झेल रही है। सभी देश इस वायरस को लेकर चिंतित हैं। इसी बीच, जापान के चौथे प्रांत में भी बर्ड फ्लू पाया गया है। जापान के कृषि मंत्रालय ने मंगलवार को इसकी जानकारी दी।

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चिंताजनक: दिल्ली में दो मरीज दूसरी बार हुए कोरोना संक्रमित, एक तो 25 दिन बाद ही दोबारा अस्पताल में हुआ भर्ती

राजधानी दिल्ली में पहली बार कोरोना से दोबारा संक्रमित होने के मामले मिले हैं। सर गंगाराम अस्पताल में एक स्वास्थ्य कर्मचारी और एक अन्य व्यक्ति को दो-दो बार संक्रमित होने के बाद अस्पताल में भर्ती किया गया है।

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Voda award issue discussed with PM Modi

NEW DELHI: The arbitration award to Vodafone by the Hague-based Permanent Court of Arbitration (PCA) in the long-standing tax dispute was recently discussed at the highest level of the government as the deadline to appeal against the verdict approaches.While there is a strong view within the administration that the award should be challenged at the Singapore-based appellate tribunal, no final decision has been taken yet, said people familiar with the development.The issue was discussed at a recent meeting where Prime Minister Narendra Modi was present. The government has time till December-end to appeal against the award and another meeting is likely to be held soon to finalise a response, said these people.A final call on the issue would be taken after examining all pros and cons, including the legal ramifications and impact on investment sentiment.Some experts are of the view that India should not appeal against the arbitration award as it would send a positive signal to foreign investors and close the vexed Vodafone retrospective tax issue that has dogged successive governments since 2012.But the dominant feeling within the government is that the award should be challenged as it questions India’s sovereign right to tax.Taxation a Sovereign RightThis award will also set a precedent for future taxation issues to be raised under the India-Netherlands bilateral investment promotion agreement and similar treaties. New Delhi’s position is that taxation is a sovereign right that cannot be challenged under bilateral investment treaties.Solicitor General Tushar Mehta has backed an appeal against the award.The government is also considering the implications of a soon to be announced verdict in another arbitration case involving Cairn Plc as it makes up its mind on the Vodafone matter. This case has been filed under the India-UK bilateral investment protection agreement and if Cairn wins the award, the tax authorities will have to return Rs 11,000 crore to the company.As India is bound to contest such a verdict on the grounds that bilateral investment treaties don’t encompass tax disputes, it would look strange if it took a different view in the Vodafone case, said people familiar with the matter. 79502318Retrospective DecisionsWhen the NDA government had assumed office in 2014, it had signalled its opposition to retrospective decisions on the tax front. In his first budget speech in July 2014, then finance minister Arun Jaitley had said while the government had the right to undertake retrospective legislation, it had to be exercised with extreme caution.At The Economic Times Global Business Summit in 2018, he had described the Vodafone retrospective tax decision as an erroneous one and said his government would not take up such matters.But policymakers say the current decision will revolve around the specific issue of whether tax disputes can be adjudicated under bilateral investment pacts and not on the larger issue of retrospective taxation.The Vodafone tax dispute has been festering since 2012 when finance minister Pranab Mukherjee amended income tax rules to nullify a Supreme Court ruling in favour of the telecom company. The ‘retrospective amendment’ made Vodafone liable to pay a total of Rs 20,000 crore, including penalties to the tax authorities. This liability, according to the tax department, arose because the $11.2 billion Vodafone-Hutchison Essar deal in 2007 was subject to capital gains tax, and Vodafone should have withheld tax.Subsequently, the UK company initiated arbitration proceedings and an international arbitration court on September 25 this year ruled that the Indian tax department was in breach of “guarantee of fair and equitable treatment” under the bilateral investment treaty. The company was entitled to protection under the accord, said the arbitration court.Govt Liability at Rs 85 croreThe Indian government’s total liability in the Vodafone case following the ruling stands at about Rs 85 crore. If it does not challenge the award and win its appeal in the tribunal, the income tax department may have to refund the Rs 45 crore already collected toward the tax levy and £4.3 million (about Rs 40 crore), which is 60% of the tribunal’s administrative costs.The government on November 17 had sought more time from the Delhi High Court in an ongoing tax case with Vodafone saying that a decision on appeal against the arbitration award will be taken by an empowered committee of the cabinet. The high court will now hear the matter on December 8.This case deals with the government’s appeal against a single judge bench order that had allowed Vodafone Group to initiate second arbitration proceedings under the India-UK Bilateral Investment Promotion and Protection Agreement.

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Nokia, Ericsson want PLI scheme to cover past investment too

New Delhi: Finland’s Nokia and Sweden’s Ericsson want India to include their existing manufacturing-related investments in the production-linked incentives (PLI) scheme, which was recently announced by the government for telecom and networking products. The scheme is expected to support and incentivise exports from India, similar to the plan which has kicked off for the mobile handset industry. The European telecom gear vendors also want India to focus on bringing the component ecosystem under the new scheme, which aims at giving sops of nearly Rs 12,200 crore. “Cost levels in India productions are a little higher than other countries, so I really welcome this kind of a policy which is coming up to provide incentives for local manufacturers because that really helps the Indian economy,” Sanjay Malik, the India market head for Nokia told ET. “The whole policy framework is known at a very high level... We are also awaiting details. but there’s only one appeal from my side that it (scheme) should be looking at providing these incentives for future as well as for the past investment.” Ericsson’s India head Nitin Bansal also said that “investments that are already made should also be considered in some way under the PLI scheme”. Both gear vendors have given commitment to their largest client, Bharti Airtel, that all 5G equipment will be locally manufactured. Ericsson and Nokia manufacture telecom gear in India through respective facilities in Pune and Chennai. Both companies also export telecom equipment, including 5G gear, to other countries.

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Vodafone Idea likely to lose up to 70 million subscribers over next year: Fitch

New Delhi: Vodafone Idea (Vi) is expected to lose 50-70 million subscribers in the next 12 months after haemorrhaging 155 million subscribers in the last nine quarters, Fitch Ratings said, adding that Reliance Jio Infocomm could net more than half of Vi’s subscriber losses, with Bharti Airtel bagging the rest. “We expect Bharti and Jio to increase their combined revenue market share to 80% (it was around 74% by September) in the next 12-18 months,” Fitch Ratings said on Monday. In the second quarter, Airtel added 14 million subscribers — double that of Jio's seven million. Vodafone Idea is rapidly losing market share given its weak balance sheet and limited financial flexibility. Fitch said Vodafone Idea's plan to raise about $3.4 billion through a mix of equity and debt is unlikely to restore its competitive position and reverse subscriber losses, as it would still be insufficient capex. 79498837 Vodafone Idea has so far paid about $1.1 billion of its total $8.9 billion dues required to be paid to the telecom department as adjusted gross revenue (AGR).Outlook on Airtel Fitch Ratings on Monday also affirmed Airtel’s long-term foreign currency issuer default rating (IDR) and senior unsecured rating at ‘BBB-’. The outlook on IDR is negative. It also affirmed Bharti Airtel International (Netherlands) BV’s senior unsecured guaranteed bonds at ‘BBB-’ and Network i2i Limited’s subordinated perpetual bond at ‘BB’. Fitch, however, added that the negative outlook does not reflect its view of Bharti's underlying credit profile — which has been improving due to strong growth in the Indian and African wireless operations — but rather the heightened probability that India's country ceiling (BBB-) could be lowered to ‘BB+‘. “Such an action would constrain Bharti’s IDR and senior issue ratings to BB+."“"We forecast Bharti’s (FY21) funds from operations (FFO) net leverage to be 2.2x-2.4x, below the threshold of 2.5x above which we will take negative rating action, the agency said in a release. “We expect Bharti's FY21 revenue and Ebitda to rise by around 17%-25%, on improvement in the Indian wireless market and continued strong growth in African markets,” Fitch said. It added that Airtel’s Indian wireless Ebitda is expected to rise 40-50% in FY21, led by 15 million subscriber additions and monthly average revenue per user (ARPU) improvement of 10%-12%. The agency also expects Airtel to generate small positive free cash flow in FY21 on flat core capex, lower interest costs and the two-year moratorium on the payment of existing spectrum dues, which will defer about $840 million in each of FY21 and FY22. “We expect FY21 as absolute core capex will most likely be flat at ₹210-220 billion (FY20: ₹221 billion), ignoring one-time payments for spectrum assets,” noted the ratings agency.

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Negative real rates push savers to overheated stocks

Mumbai: Indian savers rarely have had to brood over eroding values of their fixed deposits unlike their Western counterparts. While interest rates in India have not been cut to the near-zero levels as in the advanced economies, the Reserve Bank of India’s latest experiment with negative real interest rates, in an attempt to jumpstart the economy, is forcing squirrels out of their burrows. Result: They are dipping their toes into shares that have hitherto been ignored by the markets — and even out-of-favour residential properties.Real rate is the return that a security earns over inflation. Currently, the safest banks offer around 5% for one-year fixed deposits, while the consumer inflation in October was at 7.6%. So, the current real rate of return — before taxes — is -2.6%, which essentially means inflation is eating away at the value of savings. Effectively, negative real rates punish cash hoarders.So how are savers reacting? The concept of real rates is alien to most small-time savers, who are oblivious of the impact of higher inflation on savings rates. That said, the sharp decline in interest rates by banks is already hurting savers — mainly the retired. The more affluent and knowledgeable are, however, churning their portfolios to include assets that would help them keep up with the price spiral.The shift is to higher risk products. For instance, October witnessed a flood of outflows from safe liquid mutual fund schemes by institutional and well-heeled investors to some other debt categories. The current annual returns from liquid schemes are 3-3.5%, which makes real returns -4-4.5%. Rich investors who parked their money in deposits and safe debt mutual funds are moving some of this money into stocks. The beneficiaries of this shift have been the battered mid- and small-cap stocks. Investors are willing to up their allocations to equities even after the record-breaking run because of the assumption that flows from global funds are unlikely to reverse for now. Some wealth managers have been asking their clients to buy shares of battered public sector companies with dividend yields of as high as 10.5% as a substitute to low-yielding fixed deposits. In short, RBI’s experiment of smoking the squirrels out is forcing money to move around. When a central bank keeps the real rates wafer-thin or in the negative zone, the intention is to push savers to spend and lift the economy out of the slump. It is too early to conclude that people are en masse breaking their deposits and spending but they are certainty looking to make their make their money work harder.The real success for the RBI will, however, be when the negative real rates manage to move the needle in the comatose real estate market. A revival of this sector is considered crucial for kickstarting activity on the ground. The experiment worked well in the US in 2008-09, when the Fed brought in negative real rates in response to the collapse of the economy following the global financial crisis.While the government has been exhorting developers to clear their inventories, wealthy investors are scouting for opportunities in the affordable housing space, which is where the opportunities are as the Work From Home (WFH) format and low interest rates are expected to attract homebuyers in far-flung suburbs. Unlike savers, borrowers benefit from negative real rates. But since these are early days, the rush is still missing.Investors, who are not keen on being early birds in the sector, are combing the stock market for opportunities linked to a rebound in real estate.The best bet on the segment would be the property developers themselves but options here are sparse with most listed companies being in the luxury market - or laden with scary amounts of debt. So, they are looking for close substitutes such as housing finance companies and segments that cater to the construction of properties despite worries about some of their health.The stock market looks overheated at current levels but unattractive interest rates continue to make equities look appealing. But it also means that the stock market could increasingly become vulnerable to inflationary pressures. That could be one of the reasons investors are now looking for a margin of safety in the equity investments rather than opting for the growth theme at any cost.For its negative real rate experiment to work, RBI would be less worried about asset-price inflation compared to real inflation.

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इमरान सरकार को उखाड़ फेंकने के लिए दो बेटियों ने मिलाया हाथ

पाकिस्तान में इमरान खान सरकार के खिलाफ संयुक्त विपक्ष ने सोमवार को मुल्तान शहर में जलसा किया।

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Key Accused Tahawwur Rana Wanted "Top Class" Medal For 26/11 Attack: US

The US government has told a federal court that Tahawwur Rana, who has been declared a fugitive by India, not only wanted a "top class" medal for his role in the Mumbai terror attacks, but also...

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Biden, UN Chief Discuss "Strengthened Partnership" On COVID-19, Climate

U.S. President-elect Joe Biden spoke with U.N. Secretary-General Antonio Guterres on Monday, Biden's transition team said, discussing the need for a "strengthened partnership" to combat COVID-19...

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As cars roll out of factories, companies dole out increments

Mumbai: Leading Indian carmakers are spreading the cheer of an unexpectedly strong revival in demand during the August-October festive season among employees by doling out increments after several gloomy months for the industry triggered by the Covid-19 pandemic.Utility vehicle and tractor major Mahindra & Mahindra is handing out increments to employees effective December. Normally the company announces its increments on August 1 but it was deferred this time due to the pandemic and consequent uncertainties.“With a reasonable amount of normalcy restored, we’ve decided to go ahead with annual increase now,” said Rajeshwar Tripathi, CHRO at M&M. “Our increments will be effective December onwards and will not be backdated,” he added.Other market leaders like Maruti Suzuki, Hero Motocorp, Royal Enfield, TVS Motors, Hyundai, Kia and MG Motors have also been handing out annual increments to employees over October and November.Maruti Suzuki announced salary increments across cadres in October, said R Uppal, senior executive director for HR and IT.“Our merit-based salary increments along with the performance-based variable payouts were well above the industry average and were made for all associates from workmen to senior management,” said a Hero Motocorp spokesperson. “Around 15% of our employees were also elevated to the next level,” the official said.79498699The payouts are aimed at “bringing in a sense of positivity and motivation” among employees during uncertain times.“During such trying and uncertain times, it is necessary to take care of the employees,” said Tripathi.What has prompted companies to take this step is the fact that the market has recovered sooner than expected amid pick-up in rural demand and entry level passenger cars as well as two-wheelers. Auto sales grew 17% in the last three months and companies are making sure employee morale stays high.“Auto companies, which had taken stringent measures due to cash flow issues, are now reversing salary cuts, giving increments and bonus,” said Kavan Mukhtyar, partner & leader, Automotive, PwC.However, truck majors Ashok Leyland and Tata Motors are holding back increments this year.“We are not looking at increments for the year,” said Balachandar NV, president - HR, Ashok Leyland.“Tata Motors does not plan on giving increments this year,” said a top company official, who does not wish to be identified. The company paid bonuses to its employees in September. “There are two types of discussions taking place with our auto clients – while the ones in the entry level passenger vehicle and two wheeler spaces are the ones that are seeing a rebound and giving out the increments, those in the commercial vehicle space will take a view only from April,” said Ryan Lowe, partner, people advisory services, EY India. “Many CV manufacturers did not give out increments even last year and we are working with them now and a call will be taken only from April,” he added.Commercial vehicle sales were down 20% for the quarter ended September 2020.HR heads and compensation experts said the disruption caused by the pandemic will impact the quantum of increments and may not be the same across the board. “Hikes will be in 5-8% range. Top performers will take a greater share,” said Lowe.

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Look, how smart investors are making money on futures-spot mispricing

Mumbai: High net worth individuals (HNIs), ultra-HNIs and even informed retail investors have lapped up trades that offer annualised returns of between 15 per cent and 54 per cent by buying futures contracts and simultaneously selling underlying shares of Kotak Mahindra Bank, MRF, Bajaj Finance and Shriram Transport Finance Company that have seen heavy cash-based buying recently due to MSCI inflows running into billions of dollars.Termed reverse arbitrage, the trades exploit spot-futures mispricing due to supply-demand factors like the recent MSCI rebalancing-induced heavy cash buying, or corporate actions that lead to heavy futures selling due to anticipated fall in cash market shares. The trades in the current context offer risk-free monthly spreads or returns of 1.2-3.6 per cent. On an annualised basis, the returns gross 15-16 per cent and 54 per cent in one case. Kotak Mahindra Bank December 31 futures last traded at a Rs 23.3 a share discount (1.24 per cent monthly spread) to the spot price of Rs 1885.3, MRF futures were at a 2.11 per cent discount, Shriram Transport Finance (3.64 per cent) and Bajaj Finance (1.28 per cent). While Kotak Bank and MRF were inclusions into the MSCI India Index, Bajaj Finance and Shriram Transport Finance attracted buying on anticipated weightage increase.The constituents entering into such trades either own significant quantities of the underlying shares or have access to the exchange's stock lending and borrowing (SLB) platform. On the SLB, she can borrow the share for a fee from a counterparty, besides placing a 125-150 per cent cash margin against the borrowed shares.“The MSCI rebalancing has opened a reverse arb (arbitrage) opportunity, which is being exploited by arbitrageurs and other informed participants," said Rajesh Baheti, MD, Crosseas Capital.Normally, equity futures trade at a premium to the underlying spot price — called cash and carry arbitrage. That is because the futures price equals spot price plus cost of carry, which is nothing but the interest rate to fund the purchase of shares minus dividend earned.In the event of higher demand for cash shares relative to futures or heavy selling of futures due to anticipated fall in cash price, the carrying cost turns negative, opening an opportunity to buy the futures and sell cash shares.As spot and futures prices converge at or near expiry of a derivatives series, the trader pockets the pricing differential. At this stage the trade is reversed -- futures are sold and cash is bought back.“This is an event-based trade that aims to exploit mispricing between futures and spot for handsome, risk-free returns," said Chandan Taparia, analyst, Motilal Oswal Financial Services.“It's a no-brainer trade for those in the know," added Rajesh Palviya, derivatives head, Axis Securities.Such has been the buying frenzy in cash shares that Kotak Bank in the past seven sessions through November 27 saw delivery to traded volumes of 52-65 per cent against the three-month daily average delivery volume of 47 per cent. For MRF, delivery volume on November 27 alone was 67 per cent against the three-month daily average of 33 per cent. In Bajaj Finance, the past five days saw delivery to traded percentage at 19-56 per cent against the three-month average of 16 per cent. For Shriram Transport, Friday itself saw delivery volume of 60 per cent against the three-month daily average of 19 per cent.“Kotak Mahindra Bank and Bajaj Finance were the active MSCI names," said Abhilash Pagaria, senior manager, Edelweiss Alternative Research. "On SLB, proprietary desks borrowed and sold stocks to take advantage of the reverse arb opportunity."Brokers expect much of the MSCI related buying to have concluded by Friday as the global index management company announced on November 10, the rebalancing of the indices.

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रूस और अर्जेंटीना में भूकंप के झटके, रिक्टर स्केल पर 6.4 और 6.3 मापी गई तीव्रता

रूस में भारतीय समयानुसार मंगलवार तड़के भूकंप के झटके महसूस किए गए। भूकंप की तीव्रता रिक्टर स्केल पर 6.4 मापी गई है।

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32 साल बाद दोहराई गई 'धारा-288', किसानों ने यूपी गेट पर बसा दिया गांव

कृषि कानूनों के विरोध में भाकियू ने अपने आंदोलन के तीसरे दिन यूपी गेट पर गांव का रूप दे दे दिया। फ्लाईओवर के नीचे खुले में सर्दी की ठिठुरती रात बिताने के बाद सोमवार को झोपड़ियां बनाईं गईं।

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बृहद हैदराबाद नगर निगम चुनाव के लिए मतदान आज, इस बार भाजपा ने लगाया पूरा जोर

 हैदराबाद नगर निकाय के लिए मंगलवार के होने वाले मतदान के लिए मंच सज चुका है। इस चुनाव में विधानसभा और संसदीय चुनाव की तरह प्रचार हुआ और कई राष्ट्रीय स्तर के नेता मैदान में उतरे।

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बाइडन ने येलेन को वित्त मंत्री, भारतीय मूल की नीरा टंडन को ओएमबी निदेशक पद के लिए नामित किया

अमेरिका के नवनिर्वाचित राष्ट्रपति जो बाइडन ने सोमवार को वित्त मंत्री के पद के लिए जेनेट येलेन को और व्हाइट हाउस के शीर्ष पद ‘प्रबंधन एवं बजट कार्यालय’ निदेशक के रूप में भारतीय-अमेरिकी नीरा टंडन को नामित किया।

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Iranian Commander Killed In Airstrike At Iraq-Syria Border

An air strike killed a commander of Iran's Revolutionary Guards at the Iraq-Syria border sometime between Saturday and Sunday, Iraqi security and local militia officials said on Monday.

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'Apne 2' Will Star 3 Generations Of Deols -Dharmendra, Sunny,Bobby, Karan

"Feeling blessed to get a chance to work with my father, brother again this time with my son," tweeted Sunny Deol

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"The Crown Is Fiction": UK Minister Wants Netflix To Add Health Warning

Netflix hit series "The Crown" should make clear that much of its content is fiction over fears of damage to the image of British royal family, a government minister said.

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RBI may keep policy rates unchanged

Mumbai: The Reserve Bank of India (RBI) is likely to keep interest rates unchanged and reiterate its accommodative stance in this week’s monetary policy review, buoyed by good news on the economic front, said investors and traders. But it could also cite concerns about inflation, which has stubbornly remained above the prescribed target range. The monetary policy committee (MPC) is scheduled to meet on December 2-4.Bankers will watch out for any guidance on how the RBI plans to manage the record excess liquidity in the financial system, which has distorted market conditions and led to a drop in short-term rates. Some companies are borrowing at rates lower than the RBI benchmark.“Liquidity is in an excess territory and frankly gone out of hand and could lead to inflation in the future,” said DBS Bank head of treasury Ashish Vaidya. “A part of this is due to the dollar buying by the RBI which has infused cash into the system.”79483825‘Downside Risks to Growth Remain’“It will help if they clarify how they are going to restore nomalcy but given the fact that RBI has never addressed its forex strategy, we must not expect anything on that count,” said Vaidya.In its earlier reviews, RBI has guided that rates will be kept low for much of the next fiscal year. That guidance may be reiterated but with due caution in relation to India’s rising inflation.The latest data show that India’s retail inflation rose to the highest in more than six years on account of elevated food prices. The consumer price index (CPI) rose to 7.61% in October — the highest since May 2014 and up from 7.27% in September — led by food prices and above the 6% outer band set by law.However, the central bank has committed to ensure growth and for now will look through the high inflation, the experts told ET.In his speech at the Foreign Exchange Dealers Association of India annual day last week, RBI governor Shaktikanta Das pointed to demand sustainability and Covid-19 infections that pose downside risks to growth.“We need to be watchful about the sustainability of demand after festivals and a possible reassessment of market expectations surrounding the vaccine,” Das said. “Even as the growth outlook has improved, downside risks to growth continue due to recent surge in infections in advanced economies and parts of India.”His comments came just before data showed that India’s GDP contracted 7.5% in the September quarter from the year earlier, marking a rebound from the June quarter’s 23.9% shrinkage. Still, this meant India is officially in recession for the first time since the government started publishing quarterly GDP data in 1996.‘Food Inflation may Hit Demand’High inflation will delay further monetary policy easing, said IndusInd Bank chief economist Gaurav Kapur.“There is a risk of food inflation becoming more generalised and dragging consumption, which the MPC members will be carefully monitoring going forward,” Kapur wrote in a note last week. “Moreover, with growth out-turn better-than-expected, (this) would also provide time for the MPC to see through temporary food price pressures and assess inflationary conditions beyond November, as food prices seasonally witness easing from December onwards on fresh crop arrivals.”Kapur said any further easing may now only happen in the next fiscal year.Bankers expect a lower inflation print for November that will ease further in December due to the statistical base effect and softening of food prices.“We can still expect one more cut of 15 to 20 basis points next quarter if inflation eases closer to 6%. The RBI has done well to manage long-term yields but it is the short term that has fallen sharply,” said Punjab National Bank head of treasury Sanjaya Wasan. “But the central bank may not be too worried about the short tenure since it wants to keep long-term rates low to boost growth.”

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बाइडन की टीम में एक और भारतीय-अमेरिकी, नीरा टंडन संभाल सकती हैं ये प्रमुख पद

अमेरिका के नवनिर्वाचित राष्ट्रपति जो बाइडन अपनी टीम में अधिक से अधिक भारतीय मूल के लोगों को शामिल करने में जुटे हुए हैं। भारतीय मूल की कमला हैरिस नवनिर्वाचित उपराष्ट्रपति हैं और देश चलाने में बाइडन की मदद करेंगी।

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AUSvIND: ऑस्ट्रेलिया के लिए बुरी खबर, वन-डे और टी-20 सीरीज से बाहर हुआ यह दिग्गज

जीत के जश्न के बीच ऑस्ट्रेलिया के लिए बुरी खबर, वन-डे और टी-20 सीरीज से बाहर हुआ यह दिग्गज

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अमेरिका: डोनाल्ड ट्रंप को तलाक देने की खबरों के बीच मेलानिया ने लिया ये बड़ा फैसला

एक अंदरूनी सूत्र ने पेज सिक्स को बताया कि मेलानिया अपने व्हाइट हाउस के संस्मरण लिखने के लिए बैठक कर रही हैं।

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पीएम आवास और काफिले की सुरक्षा करेगा स्वदेशी तकनीक से बना 'ड्रोन किलर'

प्रधानमंत्री मोदी के आवास और काफिले की सुरक्षा को और कड़ा और मजबूत कर दिया गया है। प्रधानमंत्री मोदी की सुरक्षा के लिए एंटी ड्रोन सिस्टम का इस्तेमास किया जाएगा ताकि ड्रोन के जरिए होने वाले किसी भी खतरे को निष्क्रिय किया जा सके।

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पीएम मोदी ने गुरू नानक को किया नमन, कहा- उनके विचार समाज सेवा के लिए करते हैं प्रेरित

गुरु पर्व सिख धर्म के पवित्र त्योहारों में से एक है। ऐसे में देश के प्रधानमंत्री नरेंद्र मोदी ने गुरु नानकदेव को नमन किया है। 

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मध्यप्रदेश: आज शिवराज से मिलेंगे सिंधिया, मंत्रिमंडल विस्तार पर होगी चर्चा

शिवराज सरकार जल्दी ही मंत्रिमंडल का विस्तार कर सकती है। सिंधिया इसमें अपने समर्थकों को एक बार फिर मंत्री पद दिलाने की कोशिश करेंगे।

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Amit Shah, Top BJP Leaders In Late Night Meet After Farmers Refuse Offer

Home Minister Amit Shah, Defence Minister Rajnath Singh and Agriculture Minister Narendra Singh Tomar met last night at BJP chief JP Nadda's Delhi house, sources said, hours after the farmers...

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China To Build Major Dam On Brahmaputra River: Report

China will build a major hydropower project on Brahmaputra river in Tibet and a proposal for this has been clearly put forward in the 14th Five-Year Plan to be implemented from next year, the official...

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Top US Scientist Warns Of Covid "Surge Upon Surge" In Coming Weeks

America should prepare for a "surge upon a surge" in coronavirus cases as millions of travelers return home after the Thanksgiving holiday, top US scientist Anthony Fauci warned Sunday.

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Large banks may move RBI to tweak loan rejig rule

Large lenders may soon impress upon the Reserve Bank of India (RBI) the need to tweak a rule to make it easier to rejig loans to companies impacted by the pandemic-induced slowdown. In several cases, such a change will spare companies hit by Covid-19 the stigma attached to a nonperforming asset (NPA) as well lower provisioning for banks. This would call for recognising the months between the ‘invocation of the resolution framework’ (for one-time restructuring of a loan) and its ‘implementation’ as a standstill period.“This may help more banks as well as borrowers to take up one-time restructuring of loans… It will be all the more relevant once the Supreme Court lifts the stay on classification of loan assets,” a senior banker told ET.According to the regulations, the loan resolution process announced by RBI to address Covid-related stress is invoked when lenders representing 75% by value and 60% by number agree to restructure a loan. Unlike normal restructuring under earlier regulation, a loan to a Covid-hit borrower continues to be standard even with restructuring. Such restructured loan would attract a provisioning of 10%, which is lower than 15% and 25% provisioning for secured and unsecured loans that turn NPA.79483722However, if a loan slips into NPA —or, becomes 90-day overdue — after the invocation date, the account is categorised as NPA and lending banks are required to make higher provisioning.On implementation of the one-time loan restructuring — which has to be completed within 180 days from the date of invocation — the account can be upgraded to ‘standard’ (from NPA). Nonetheless, the rule requires banks to continue with the higher provisioning which kicked in when the account slipped into NPA category.“Banks want a status quo on the asset classification. This means not categorising an account as NPA in the intervening period (from invocation date to implementation date) even if there is a slippage, and making a provision of 10% upon implementation…Today, banks are not classifying loans as NPA following the Supreme Court direction, but they will have to do it once the stay is lifted. The issue has been discussed among bankers…It was recently flagged off for some companies which are going in for restructuring but may become an NPA before the restructuring process is over. Banks may ask RBI whether these companies can be considered as standard at the close of the December quarter,” said another banker.According to another banker, not too many companies are going for loan restructuring — partly because they do not want it to be recorded in their credit history, and partly due to the stiff conditions laid down by the Kamath committee. “Also, few promoters are ready to chip in capital and give personal or corporate guarantee. Banks too are reluctant in cases where they sense that companies which may be standard account on the day of invocation (as is required) but slip into NPA soon after that,” he said. According to the regulatory timeline, the resolution framework should be invoked not later than December 31, 2020; and, lenders have to reach an intercreditor agreement within 30 days of invocation.The resolution process has to be completed within 180 days from the date of invocation. “Even if the Supreme court takes longer to lift the stay, bank auditors may insist on higher provisioning once an account becomes NPA,” said another banker.

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राजस्थान: भाजपा विधायक किरण माहेश्वरी का कोरोना से निधन, मेदांता अस्पताल में ली अंतिम सांस

राजस्थान के राजसमंद से बीजेपी विधायक किरण माहेश्वरी का गुरुग्राम के मेदांता अस्पताल में निधन हो गया। वह कुछ दिनों पहले कोरोना पॉजिटिव पाई गई थी, जहां उनका इलाज चल रहा था। किरण माहेश्वरी दूसरी विधायक थीं।

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Joe Biden Chooses All-Women Senior White House Communications Team

US President-elect Joe Biden on Sunday announced an all-female senior White House communications team, what his office called a first in the country's history.

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किसान वार्ता को तैयार, लेकिन शर्त नहीं मानेंगे, पांच मुख्य मार्गों पर करेंगे दिल्ली की घेराबंदी

नए कृषि कानूनों के खिलाफ आंदोलन कर रहे किसानों ने कहा है कि वे सरकार से बातचीत को तैयार हैं, लेकिन किसी शर्त पर नहीं।

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दिल्ली हाईकोर्ट ने कहा- एचआईवी पॉजिटिव के यौन संबंध बनाने पर हत्या के प्रयास का मामला नहीं बनता

किसी एचआईवी पॉजिटिव व्यक्ति को अपने पार्टनर की सहमति या असहमति से यौन संबंध स्थापित करने पर हत्या के प्रयास का दोषी नहीं माना जा सकता।

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भारत ने ओआईसी को दी चेतावनी, भविष्य में दूर रहे जम्मू-कश्मीर से

भारत ने रविवार को इस्लामी सहयोग संगठन (ओआईसी) को जम्मू-कश्मीर का तथ्यात्मक गलत व अवांछित संदर्भ देने के लिए आड़े हाथ लिया।

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प्रयागराजः अध्यापकों के 36,590 पदों को भरने के लिए सूची जारी, काउंसलिंग दो से चार दिसंबर के बीच

उत्तर प्रदेश बेसिक शिक्षा परिषद ने परिषदीय विद्यालयों के लिए 69000 सहायक अध्यापक भर्ती में 31277 पदों पर भर्ती के बाद शेष 36590 पदों को भरने के लिए अंतिम सूची जारी कर दी है।

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लद्दाख सीमा पर निर्माण कार्य चीन की भड़काने वाली हरकत: राजा कृष्णमूर्ति

अमेरिकी संसद में प्रभावशाली डेमाक्रेट सांसद राजा कृष्णमूर्ति ने लद्दाख के निकट चीन द्वारा करवाए जा रहे निर्माण कार्यों को भड़काने वाली हरकत करार दिया है।

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बिहार में विपक्षी महागठबंधन के राज्यसभा उपचुनाव लड़ने की जताई जा रही है संभावना

पूर्व केंद्रीय मंत्री रामविलास पासवान के निधन से खाली हुई राज्यसभा सीट के लिए बिहार में विपक्षी महागठबंधन के चुनाव मैदान में उतरने की संभावना जताई जा रही है।

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Two Killed, Seven Injured After Being Hit By Container In Pune

Two people were killed and seven others injured after the driver of a container truck lost control over it due to suspected break failure, following which it hit several other vehicles in Pune on...

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North India Likely To Witness Harsh Winter: Weather Office IMD

North India is likely to witness a harsher winter and may see a rise in the frequency of cold waves this season, India Meteorological Department (IMD) Director General Mrutunjay Mohapatra said on...

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Biden To Nominate Indian-American Neera Tanden As Budget Chief: Report

President-elect Joe Biden plans to nominate Center for American Progress Chief Executive Neera Tanden as director of the Office of Management and Budget and economist Cecilia Rouse as chair of the...

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Farmers Protest: अमित शाह का प्रस्ताव मानने को तैयार नहीं किसान, सिंघु बॉर्डर पर ही डटे, आज फिर बैठक

कृषि कानूनों को लेकर लगातार तीन दिनों से आंदोलनरत किसान रविवार को भी अपना प्रदर्शन जारी रखने को लेकर अडिग हैं। इसके मद्देनजर शनिवार को रात भर दिल्ली-हरियाणा को जोड़ने वाले सिंघु बॉर्डर पर सुरक्षाबलों की तैनाती रही।

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हैदराबाद निकाय चुनाव: ओवैसी को गढ़ में हराने को तैयार भाजपा, नड्डा, योगी के बाद आज शाह करेंगे रोड शो

भाजपा के राष्ट्रीय अध्यक्ष जगत प्रकाश नड्डा और उत्तर प्रदेश के मुख्यमंत्री योगी आदित्यनाथ के बाद आज अमित शाह चुनाव प्रचार की कमान संभालने के लिए पहुंचेंगे।

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CoronaVirus in India Live: पिछले 24 घंटे में मिले कोरोना के 41810 नए मरीज, 496 की मौत

हरियाणा के स्वास्थ्य विभाग का कहना है कि राज्य में कोविड-19 के 1,967 नए मामले सामने आए हैं। 2,421 मरीज ठीक होकर अस्पताल से घर लौटे हैं।

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कोरोना: शोध में खुलासा, एसिम्टोमैटिक की बजाय सिप्टोमैटिक फैलाते हैं चार गुना ज्यादा संक्रमण

रिपोर्ट लोगों को बीमार होने के संकेत मिलते ही खुद को आइसोलेट करने की जरूरत को रेखांकित करने के लिए नए सबूत पेश करता है।

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नाइजीरिया: बोको हरम ने पार की क्रूरता की हदें, 43 मजदूरों को रस्सी से बांधकार काटा गला

नाइजीरिया में बोको हरम के लड़ाकों ने धान के खेतों में काम करने वाले 43 मजदूरों की निर्मम तरीके से हत्या कर दी। वहीं, छह मजदूरों को घायल कर दिया। इस घटना शनिवार को उत्तर पूर्वी नाइजीरिया के मैदुगुरी शहर में अंजाम दिया गया।

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Hours Before Amit Shah's Hyderabad Visit, KCR Slams "Divisive Forces"

Telangana Chief Minister K Chandrashekhar Rao has sought to strike an emotional chord with the residents of Hyderabad ahead of the municipal polls, appealing to them to "save the city from divisive...

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1 Soldier Killed In Action, 9 Injured In Maoist Attack In Chhattisgarh

A Central Reserve Police Force (CRPF) officer was killed and nine others were injured after an IED blast in Chhattisgarh's Sukma district triggered allegedly by Maoists, officials said today.

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Hypertension: How To Make Chia Seed-Infused Lemon Water To Manage High Blood Pressure

Hypertension or high blood pressure is a condition that is prevalent across the world. Here's how chia seeds and lemon may help managing the condition.

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AUS vs IND 2nd ODI Score: भारत आज भी टॉस हार गया, ऑस्ट्रेलिया ने चुनी बल्लेबाजी

Ind vs AUS Live Cricket Score: पहले मैच में लय पाने के लिए जूझते रहे भारतीय गेंदबाजों को बिना समय गंवाए अपनी गलतियों में सुधार करके ऑस्ट्रेलिया के खिलाफ आज श्रृंखला बचाने के लिए दूसरे वन-डे में सर्वश्रेष्ठ प्रदर्शन करना होगा।

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Weather Alert: उत्तर भारत में भीषण ठंड के आसार, इन क्षेत्रों में 24 से 36 घंटों में हो सकती है बारिश

चक्रवात निवार के गुजरने के बाद अब उसका भारत के कई राज्यों में असर देखने को मिल रहा है। कई राज्यों में बारिश की शुरुआत हो चुकी है। मौसम विभाग का अनुमान है कि आने वाले हफ्ते में बारिश के साथ पहाड़ी इलाकों में बर्फबारी भी देखने को मिलेगी।

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जम्मू-कश्मीर: सीमावर्ती अरनिया में फिर दिखा पाकिस्तानी ड्रोन, सतर्क जवानों को देख लौटा

जम्मू-कश्मीर में शनिवार की रात को एक बार फिर से ड्रोन देखा गया है। हालांकि जवानों की सतर्कता के चलते वह वापस लौट गया। बीएसएफ के जवान अलर्ट पर हैं।

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2nd ODI Live: Australia Win Toss, Opt To Bat Against India

IND vs AUS 2nd ODI Live Match Score Updates: India face Australia in the second ODI of their tour at the Sydney Cricket Ground, after being defeated in the opening match.

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Petrol Diesel Price: आज फिर बढ़े पेट्रोल-डीजल के दाम, जानें कितनी हुई बढ़ोतरी

सरकारी तेल कंपनियों की ओर से डीजल और पेट्रोल की कीमतों आज बढ़ोतरी की गई है। डीजल की कीमत में 28 से 31 पैसे की बढ़ोतरी हुई है तो पेट्रोल की कीमत भी 19 पैसे से 21 पैसे तक बढ़ी हैं। 

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...जब पति ने नौकरी कर रही पत्नी से गुजारा भत्ता पाने के लिए खटखटाया कोर्ट का दरवाजा

एक अनूठे मामले में तलाक की लंबित कार्यवाही के बीच पति ने पत्नी से गुजारा भत्ता पाने के लिए कोर्ट का दरवाजा खटखटाया है।

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What Chirag Paswan Said After BJP Picked Sushil Modi For Rajya Sabha Seat

LJP president Chirag Paswan said on Saturday that it was the BJP's prerogative to announce a candidate for the Bihar Rajya Sabha election.

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दिल्ली की खाद्य आपूर्ति बाधित करने की तैयारी, किसानों ने कहा- बॉर्डर से ही करेंगे केंद्र की घेराबंदी

लगातार तीसरे दिन शनिवार को भी बहादुरगढ़-टिकरी बॉर्डर और सिंघु बॉर्डर पर एक तरफ किसान और दूसरी तरफ दिल्ली पुलिस बैठी रही।

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टीम इंडिया के गेंदबाजों को दिखाना होगा दम, ऑस्ट्रेलिया के खिलाफ दूसरा वनडे आज

ऑस्ट्रेलिया ने जिस तरह से भारत की कमजोरियों का फायदा उठाया, वह कप्तान विराट कोहली और कोच रवि शास्त्री के लिए चिंता का सबब है।

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दिल्ली सरकार के आधे कर्मचारी 30 दिसंबर तक घर से करेंगे काम, बाकी दफ्तर में, नई व्यवस्था कल से

कोरोना संक्रमण से बचने के लिए दिल्ली सरकार का 50 फीसदी स्टाफ अब सरकारी दफ्तरों में मौजूद रहेगा।

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अंग प्रत्यारोपण के बाद दी जा रही दवाएं महामारी में घातक

फ्रांस में एक अध्ययन में पता चला है कि कोरोना के कारण सामान्य जनसंख्या की तुलना में किडनी ट्रांसप्लांट वाले मरीजों की मौत अधिक हुई है। गुर्दा प्रत्योरोपण वाले मरीजों को अधिक सावधानी बरतनी होगी।

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महिला किसान बोलीं ...हमारी जान गई तो बहू-बेटियां आकर संभालेंगी मोर्चा

पंजाब से दिल्ली जाने के लिए महिला किसान भी पीछे नहीं हैं और उनका जत्था भी आया हुआ है, जो किसानों संग कुंडली बॉर्डर पर डटा हुआ है।

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Moto G9 Plus Spotted on BIS Certification Site: Report

Moto G9 Plus has been spotted on Indian BIS (Bureau of Indian Standards) certification website, hinting at a future launch in the country. The phone has already gone official in Brazil in...

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प्रधानमंत्री मोदी आज सुबह 11 बजे 'मन की बात' कार्यक्रम के जरिए देश को करेंगे संबोधित

प्रधानमंत्री नरेंद्र मोदी रविवार सुबह 11 बजे रेडियो पर 'मन की बात' कार्यक्रम के जरिए देश को संबोधित करेंगे। इस दौरान पीएम मोदी देश और विदेश में जनता के साथ अपने विचार साझा करेंगे।

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Even After Going Around World, Vaccine Will Be Found In Pune: NCP MP

Even if one goes around the world, vaccine for COVID-19 will be found only in Pune, NCP MP Supriya Sule said on Saturday, referring to Prime Minister Narendra Modi's visit to the Serum Institute of...

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नोएडाः यमुना एक्सप्रेसवे पर दर्दनाक हादसा, बस में पीछे से जा घुसी इनोवा कार, चार की मौत

उत्तर प्रदेश के ग्रेटर नोएडा में यमुना एक्सप्रेसवे पर शनिवार को दर्दनाक हादसा हुआ है। हादसे में चार लोगों की मौत हो गई है जबकि एक शख्स घायल हुआ है।

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Law Should Be Equal For All: Sanjay Raut On High Court Ruling

Reacting to the Bombay High Court's ruling that the demolition carried out by the Mumbai civic body at actor Kangana Ranaut's bungalow was illegal, Shiv Sena MP Sanjay Raut on Friday said the law...

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India Has Practically Achieved Pre-2020 Climate Action Targets: Centre

Union Minister of Environment, Forest and Climate Change Prakash Javadekar on Friday launched the "India Climate Change Knowledge Portal" through a virtual event where he said that India has...

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Airbus re-sells six unwanted jets built for AirAsia

PARIS: Airbus has found buyers for six aircraft from the A320neo family rejected by one of its main customers, Malaysia's AirAsia, as it works off a surplus left by the coronavirus crisis, industry sources said. Unwanted jets have become an emblem of pandemic-induced problems in the aerospace industry that have come on top of a chill in ties between two of its major players. Tensions became unusually public when Airbus in April invited tenders for six jets that AirAsia had failed to take delivery of. It has now found homes for all six, the last of which is being delivered this month, a European industry source told Reuters. Airbus provided no comment. Airbus has been steadily increasing deliveries as it strikes deals with airlines to reschedule deliveries or store jets. It said last month it had reduced an overhang that it had been unable to deliver during the crisis by 10 units to 135 jets. The redeployment of AirAsia orders is expected to trim the surplus further as deliveries top output in November. Airbus is seeing strong demand, relative to the rest of the battered sector, for its A321neo jet, and the aircraft has broadly held its value, the European source said. It is sticking with plans to increase output of the single-aisle jets. The A321neo competes with the two largest versions of the Boeing 737 MAX, which won approval last week to re-enter service after a 20-month grounding in the wake of two crashes. AIRCRAFT VALUES Boeing is expected to re-sell dozens of 737 MAX whose buyers cancelled during the grounding, potentially depressing prices. According to the UK-based consultancy IBA Group, all aircraft have lost some value during the COVID-19 crisis but the A321neo is trading around 5% below its inherent value while the MAX is 10% below - hurt also by the recent grounding. Doubts remain, however, about demand for a larger Airbus, the A330neo, whose largest customer, AirAsia's long-haul unit Air Asia X, is seeking new funding to survive. AirAsia said in April it would stop taking deliveries of all Airbus jets this year and review remaining orders. The move exacerbated concerns about demand in Southeast Asia, which was already struggling with overcapacity before the crisis. AirAsia's relations with Airbus were further clouded when it was drawn into an Airbus bribery case before being cleared by local investigators, industry sources have said. AirAsia co-founders denied any wrongdoing in a sports sponsorship deal cited in a wider Airbus bribery settlement with prosecutors in January. The European source said AirAsia remained an important partner for Airbus.

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Farmers Protest: सिंधु बॉर्डर पर डटे हुए हैं किसान, दिल्ली कूच पर आज बैठक में बनाएंगे रणनीति

केंद्र सरकार द्वारा पारित नए कृषि कानूनों के विरोध में किसानों का प्रदर्शन लगातार तीसरे दिन जारी है।

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महाराष्ट्र: एनसीपी विधायक भरत भालके का निधन, पिछले माह हुए थे कोरोना संक्रमित

भालके 30 अक्तूबर को कोरोना वायरस से संक्रमित हुए थे। तब उन्हें रूबी अस्पताल में भर्ती कराया गया था। वे चार दिनों में ठीक होकर अपने विधानसभा क्षेत्र वापस आ गए थे। 

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जम्मू-कश्मीरः पहले चरण में जिला विकास परिषद की 43 सीटों पर कड़ी सुरक्षा में मतदान जारी

केंद्र शासित जम्मू-कश्मीर में पहली बार होने जा रहे जिला विकास परिषद चुनाव के पहले चरण की 43 सीटों पर मतदान शुरू हो गया है। प्रशासनिक स्तर पर मतदान सफल बनाने के लिए कड़े सुरक्षा प्रबंध किए गए हैं। 

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कोरोना नहीं, राष्ट्रीय सुरक्षा कारणों से यूएई ने पाकिस्तान समेत 13 देशों के श्रमिकों पर लगाई पाबंदी

हाल ही के दिनों में अपने देश की राष्ट्रीय सुरक्षा और कानून व्यवस्था को मजबूत करने के लिए यूएई सरकार ने 18 नवंबर को एक आदेश पारित किया है, जिसमें 13 देशों के कर्मचारियों पर काम करने पर प्रतिबंध लगा दिया है। 

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PM To Visit 3 Top Drug Makers Today To Review Covid Vaccine Development

Prime Minister Narendra Modi will visit India's top vaccine hubs today to personally review the vaccine development and manufacturing process. The visit, PM Modi's office said, was meant to help him...

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"Calling Vote Unfair Doesn't Make It So", Court Tells Trump

A federal appeals court on Friday flatly dismissed President Donald Trump's claim that the election was unfair and refused to freeze Joe Biden's win in the key state of Pennsylvania.

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Government opposes further loan moratorium

NEW DELHI: The government on Friday cited constraints imposed by the country’s economic situation and the uncertainty over the Covid-19 pandemic to oppose any further Supreme Court relief by way of extending the loan moratorium scheme to other affected sectors.The government, through Solicitor General Tushar Mehta, told a bench led by Justice Ashok Bhushan that it had already extended the loan moratorium scheme for small borrowers and waived interest on interest. “Any such relief sector-wise would be a problem under Article 32,” he said.“There is already a mechanism (restructuring). Let them work out things under the mechanism,” the SG said. “Given the economic position of the country and the pandemic… no one knows when this situation will end,” he said.Further relief would be difficult to extend to all affected sectors, including big borrowers, he argued.Justice M R Shah wondered if the government was saying that there was a line that must not be crossed. Justice Bhushan insisted that the bench would take a call on this once it had heard out all the other petitioners in the court, including Credai, the power producers, mall owners and jewellery shop owners.The bench has already disposed of a petition seeking relief for small borrowers. The government had waived off interest on interest for them at the court’s insistence.Appearing for Credai, senior advocate Kapil Sibal said that 97% of the loans would become NPAs in this sector unless some relief was extended. Others sought extension of the moratorium period till March 31, 2021, instead of December 31, 2020.The hearing was further put off to December 2 for lack of time.

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PM's 3-City Vaccine Tour Today: Zydus, Bharat Biotech, Serum Institute

Prime Minister Narendra Modi will visit pharma major Zydus Cadila's plant near Ahmedabad on Saturday to get information about the development of its COVID-19 vaccine, Gujarat Deputy Chief Minister...

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Orders For Surface Ships, Submarines To Be Executed In 10 Years: Centre

Union Minister of State for Defence Shripad Naik on Friday said expected orders for surface ships and submarines to be executed from 2020 to 2030 by the Indian Navy are to the tune of USD 51 billion.

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More Brands, More Offers: America's Black Friday shopping festival getting bigger in India

New Delhi: Black Friday, yet another American import, appears to be taking root in India. The trickle of Black Friday sales that started in India last year has turned into a flood this year with several malls and scores of brands including Shoppers Stop, H&M, Lifestyle, Marks & Spencer, Realme, Michael Kors, Jimmy Choo and Tommy Hilfiger among those offering 20-80 per cent discounts on the shopping day that follows Thanksgiving—the fourth Thursday of November in the US. “Basically, it has its origin in the US after Thanksgiving Day but it is becoming popular in India as well,” said Vivek Bali, CEO of cosmetic retailer Sephora that has up to 50 per cent rebate on various items. “It has got popular in India since last year as companies have started to use it as a promotional tool,” he added.Japan’s fashion label Uniqlo is starting a week-long Arigato (thank you in Japanese) Festival on Friday while Shoppers Stop is having Black FriYay with up to 80 per cent discounts. 79457204While a host of brands including Steve Madden, Armani Exchange, Swarovski and Vero Moda in High Street Phoenix and Palladium malls in Mumbai are offering up to 50 per cent rebate between Friday and Sunday, Mall of India in Noida, where 250 labels are participating in Black Friday sales, lined up 50 per cent cashback vouchers for the first 200 shoppers with a bill of Rs 15,000 on November 27.“We started preparing for it a month in advance,” said Abhishek Bansal, executive director of Delhi’s Pacific Mall, where almost 90 brands have various offers between Friday and Sunday. “Last year, we did well and that is the reason the retailers are ready to participate this year. We didn’t even have to ask them.” Pacific generated Rs 10 crore in three-day Black Friday sales in 2019 and this year, despite Covid-19 cases on the rise, the west Delhi mall is hoping to clock about Rs 8 crore of business in the Friday-Sunday period.May Become much Bigger EventBlack Friday has the potential to turn into a much bigger event in the future as young Indians are increasingly warming up to western practices, said Vineet Gautam, CEO for South Asia for Denmark-based retail group Bestseller. Its brands such as Jack & Jones, Vero Moda and Only are part of Black Friday sales.“It is interesting to see how it is evolving in India,” said Gautam. “Well-travelled consumers have adapted to seasons/ days that didn't originate in India and, in turn, compelling the industry here to adapt and present new interesting offers.” However, some experts said Indian brands and retailers need to show more imagination.“We have 50 different communities living here and each of them would have 50 reasons to celebrate,” said Harminder Sahni, founder of retail consultants Wazir Advisors. “Yet we are following the American middle class. Have we exhausted our domestic and regional opportunities? Black Friday is pure lazy marketing and nothing else.”Coming up—Cyber Monday.

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The curious case of AstraZeneca-Oxford vaccine

Anglo-Swedish drugmaker AstraZeneca (AZ) had an eventful week during which it announced 63% efficacy rate for the vaccine it’s developing against the Covid-19 virus in partnership with Oxford University. The company announced that in a small subgroup of the trial participants the vaccine showed better efficacy when administered a half dose first and a full dose after a month. This announcement triggered a series of questions on the company’s trial protocol. However, on Thursday, the company started a new trial where it will administer a half and a full dose to a larger participant group. Divya Rajagopal explains the impact this will have on the approval timeline for the vaccine, which has implications for India too.WHAT IS THE EFFICACY OF THE AZ/OXFORD VACCINE?An interim analysis of 131 participants showed 70% efficacy when two different dosages were administered to two different groups of people. The larger group, which was given two full doses, showed 62% efficacy, while a smaller group of around 2,400 participants, which was given half and full doses, showed 90% efficacy.WHY DID THE VACCINE SHOW BETTER EFFICACY IN THE SUB-GROUP THAT RECEIVED HALF AND FULL DOSES?Sarah Gilbert, professor of vaccinology at the University of Oxford, said the reason is still unknown. She said a possible explanation could be that the immune system was reacting to the smaller dose as if it was fighting a real infection, leading to better response.WHY IS AZ STARTING A NEW TRIAL?AZ’s discovery that the vaccine works better with a smaller first dose was accidental. This was not part of the original trial protocol. It was an error on part of one of the trial contractors of Oxford University. The company will be starting trials afresh with a smaller dose fi rst to adhere to the best standards of critical trials.WHAT DOES THIS MEAN FOR SERUM INSTITUTE OF INDIA’S (SII) TRIAL?SII told ET that it will continue with the trial with two full doses. The AZ-Oxford vaccine is safe and effective and even the lowest efficacy rate is 60-70%, making it a viable vaccine, said SII. Efficacy could vary slightly in different age groups when given in different dosages. Adar Poonawalla, CEO of SII, said the Indian trials are running smoothly with strict adherence to all the necessary processes and protocols and the company was studying the data.WILL THE VACCINE LAUNCH BE DELAYED?AZ CEO Pascal Soriot said that the company does not expect the regulators to withhold emergency approval because of the new trial. The company can submit the efficacy data of 63% to get emergency approval as it is above the 50% that most regulators stipulate.

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दिल्ली सरकार ने किसानों के लिए बुराड़ी में की व्यवस्था, अब राजधानी में रहेगा आंदोलनकारियों का डेरा

दिल्ली सरकार ने शुक्रवार को विरोध प्रदर्शन कर रहे किसानों का स्वागत ‘अतिथि’ के तौर पर करते हुए उनके खाने, पीने और आश्रय का बंदोबस्त किया।

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सरकार ने कैब कंपनियों पर लगाई लगाम, किराया-कमाई तय

ओला उबर जैसी कैब कंपनियों को भारत सरकार की नई मोटर वाहन एग्रीगेटर गाइडलाइन्स से बड़ा झटका लगा है। सड़क परिवहन और राजमार्ग मंत्रायल ने शुक्रवार को मोटर व्हीकल एग्रीगेटर दिशा निर्देश 2020 जारी किया।

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Petrol Diesel Price: आज फिर से बढ़े पेट्रोल-डीजल के दाम, जानें कितनी हुई बढ़ोतरी

सरकारी तेल कंपनियों की ओर से डीजल और पेट्रोल की कीमतों आज बढ़ोतरी की गई है। डीजल की कीमत में 26 से 28 पैसे की बढ़ोतरी हुई है तो पेट्रोल की कीमत भी 21 पैसे से 24 पैसे तक बढ़ी है।

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त्योहारी मौसम में भारत के ई-कॉमर्स क्षेत्र में पिछले साल से 65 फीसदी ज्यादा बिक्री, फ्लिपकार्ट ने अमेजन को पछाड़ा

भारत के ई-कॉमर्स क्षेत्र में इस साल त्योहारी मौसम के दौरान 15 अक्तूबर से 15 नवंबर के बीच कुल 8.3 अरब डॉलर (करीब 614 अरब रुपये) की बिक्री हुई।

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सैन्य परमाणु कार्यक्रम से जुड़े वैज्ञानिक की हत्या में इजराइल की भूमिका के संकेत : मोहम्मद जवाद जरीफ

ईरान के विदेश मंत्री ने आरोप लगाया है कि देश के विघटित सैन्य परमाणु कार्यक्रम से जुड़े एक वैज्ञानिक की हत्या के मामले में इजराइल की भूमिका के गंभीर संकेत हैं।

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इस शख्स के पास है 195 देशों की करेंसी का अद्भुत संग्रह, तस्वीरें देख हैरान रह जाएंगे आप

एक ही जगह अगर आपको 195 देशों की करेंसी और डाक टिकट मिल जाए तो आश्चर्य होगा।

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Venkaiah Naidu Expected To Chair SCO Heads Of Government Summit On Nov 30

Vice President M Venkaiah Naidu is expected to chair the Shanghai Cooperation Organisation's (SCO) council of heads of government summit on November 30.

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Nokia Smart TV Range Gets a 75-Inch Model With 4K UHD Support

Nokia Smart TV 75-inch model has been launched. The new model has been introduced by Nokia licensee StreamView in Europe. The TV comes with Dolby Vision support and includes a 4K UHD display.

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गुजरात: राजकोट के कोविड अस्पताल में आग से पांच मरीजों की जलकर मौत, कई झुलसे

जानकारी के अनुसार अस्पताल में 33 मरीज भर्ती थे। आग पर काबू पाने के लिए दमकलकर्मियों को मौके पर भेजा गया। जिन्होंने कड़ी मशक्कत के बाद आग पर काबू पाया।

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AUSvIND 2020, 1st ODI, LIVE score: ऑस्ट्रेलिया ने टॉस जीता, भारत की पहले गेंदबाजी

नमस्कार, अमर उजाला के लाइव ब्लॉग में आपका स्वागत है। सिडनी में अब से कुछ देर में शुरू होेने वाले पहले वन-डे से भारत के ऑस्ट्रेलिया दौरे की शुरुआत हो रही है..

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Argentina Bids Final Farewell To Favourite Son Diego Maradona

Diego Maradona was laid to rest after a ceremony attended by family and close friends in the leafy surrounds of the Bella Vista cemetery outside Buenos Aires.

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The worst may be over for India's economy

Concern about the depth of India’s recession is slowly being replaced by optimism that a recovery is taking hold.A slew of indicators from car sales to services sector activity notched higher last month, while alternative data signal robust demand in an economy that’s primarily driven by domestic consumption.Data due Friday will likely show gross domestic product declined 8.2% in the three months through September, according to economists surveyed by Bloomberg. While that pushes Asia’s third-largest economy into its first technical recession in records going back to 1996, it’s a sharp recovery from the record 24% contraction the previous quarter.79438523The improvements are expected to continue, with some analysts seeing the country returning to growth as soon as this quarter. The recovery from the lockdown has been stronger than expected, Reserve Bank of India Governor Shaktikanta Das said Thursday, signaling ahead of next week’s rate decision that policy makers will keep their supportive stance.“While the farm sector remained the bright spot, supported by a good monsoon season and subsidized inputs, we think the recovery likely spread wider across the economy and is on the verge of becoming entrenched,” Rahul Bajoria, the Mumbai-based chief India economist at Barclays Plc, wrote in a report to clients.That improvement coincides with a drop in India’s daily virus cases, which have tapered off to half of its peak of more than 97,000 infections a day in mid-September.“With cases rising elsewhere, India has fallen off the top in terms of fastest growing cases as well as deaths,” said Bajoria, who sees positive growth this quarter and a full-year contraction at 6.4% -- milder than the RBI’s forecast for a 9.5% decline.The RBI has been doing the heavy lifting on providing stimulus to the economy, having cut interest rates by 115 basis points so far this year, infused liquidity and transferred billions of rupees in dividend to the government. But its support has been stymied by inflation that’s surged well above the central bank’s 2%-6% target band.For its part, the government expanded fiscal stimulus to 15% of the economy, with most measures related to credit guarantee programs.There is continuous improvement, according to State Bank of India economist Soumya Kanti Ghosh. The third quarter numbers could be even better, in line with the trends seen in economies globally, he said.--With assistance from Tomoko Sato.

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Flipkart demotes Walmart India executives in merged entity

Mumbai: Nearly four months after acquiring Walmart India's wholesale operations, Flipkart in a town hall on Thursday announced its cash-and-carry business will largely be technology led, and relegated senior Walmart officials to lower ranks in the merged entity, two officials told ET.“Flipkart said all Walmart's vice presidents will be made directors, and all employees have been told that the role redesignation letter will come by December 3 and people have the option of accepting the offer within five days or take three months’ severance pay to quit,” one of them said.The town hall conducted on video conferencing was led by Flipkart Wholesale head Adarsh Menon. While Walmart India CEO Sameer Agarwal will have a global role, chief merchandising officer Anuj Singh and chief sales officer Sanjay Kesavan are not given any role in the merged entity yet, the officials said. According to Walmart's hierarchy standard, the new roles offered across the board would mean demotion by one or two levels, they said.Flipkart, however, said the job offers made to employees at Walmart India have been aligned to corresponding roles at Flipkart in terms of compensation, responsibility and profiles based on industry best practices, after consultation with external HR experts and in line with future organisational planning."Over the past few months, the Flipkart Wholesale and Walmart India teams have worked closely together for a smooth integration of the businesses,” Agarwal said. “The combined business will transform the B2B ecosystem in India. This will help several small businesses prosper and make great products available to millions of Indians all over the country.” In July, Flipkart had announced acquiring parent Walmart’s loss-ridden cash-and-carry business in India, Best Price, marking a consolidation of the American major’s entire retail portfolio in the country. The etailer had then said Walmart employees will transition to Flipkart Wholesale in January 2021 and as part of the integration, the operations will move from Gurgaon to Bengaluru in the next fiscal year.Flipkart – which was acquired by Walmart for $ 16 billion in 2018 – launched its wholesale unit in August with categories like fashion and grocery. This put it into direct competition against a slew of rivals from JioMart and Amazon B2B to business commerce enabler Udaan and German retail giant Metro Cash & Carry.In fiscal 2020, the company reported revenue growth of 20% of ₹4,926 crore on a 74% increase in loss at ₹299 crore.In January this year, Walmart had let go of nearly 100 senior executives, including vice presidents of sourcing, agri-business, and the fast-moving consumer goods divisions.

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Indian automakers see increased sales in rural areas, fuelled by higher farm incomes

MUMBAI: Automakers in India are on a marathon upcountry drive with a mission - to promote "inclusive growth" in car ownership.And the effects are showing. The so-called Bimaru belt- of Bihar, Madhya Pradesh, Rajasthan and Uttar Pradesh - is leading Motown's sales growth charts, upending conventional wisdom that prioritises urban pockets.So, what's behind this new-found love for country roads? The second consecutive good monsoons have boosted rural incomes. And the automakers are doing their bit - an expanding service network that's underpinned by an attractive financing infrastructure.Hence, low per capita states saw sales rise 27% in the second quarter, 10 percentage points more than the 17% growth for the industry. Bimaru states have clocked growth in excess of 25%, while the west zone expanded by 19%. The East saw 16% growth, while the south reported the slowest pace of expansion - at 7%.What's more, the Bimaru states with significant rural populations cumulatively contributed 20% to the total volumes in the September quarter.A regional manager at a leading automaker overseeing the operations of Uttar Pradesh and Bihar said that higher farm output contributed significantly to the income growth in tier two cities, with SUVs leading the sales drive. "The retail momentum could have been better than actual if the supplies were not hurt due to localized lockdown at the vendor or plant levels," said the executive.Rural demand has outpaced that of major cities due to higher sowing area of Kharif crop and better yields.The total kharif crop sowing area this year increased 5.7% to a record 1,113.63 lakh hectares.In addition, the government has increased the procurement of paddy to 42.5 lakh metric tonnes, 35% higher than the year ago.Also, the number of procurement centres for Rabi & Kharif seasons combined rose to 64,515 in FY20 from 48,550 in FY17. Lastly, the monsoonal rainfall was 9% higher than the 50-year, long-period average and it was the third highest cumulative rainfall in 25 years. 79438176Going soloAn increasing preference for personal mobility has also created demand for entry-level cars, helping the market leader Maruti Suzuki.Consequently, the share of those states with higher contribution from farmland incomes performed better than those with more urban districts. Maruti Suzuki, India’s largest car maker, saw its rural share in the total volumes rise to 41%, about 200-300 basis points higher than the average of the last few years. Similarly, the share of the top 10 cities dropped to 32% in the second quarter, a decline of around 200 basis points.Tata Motors and Mahindra have seen their rural shares rise 400-500 basis points to 43% and 53%, respectively, in the last one year.Shailesh Chandra, president , passenger vehicle business unit at Tata Motors told ET that despite the slow start this FY, the rural market had bounced back in Q2 with growth of 58%.M&M strengthened its reach with smart zip stores and its coverage has expanded to 71% of the country's talukas. The company even leveraged its farm division to reach out to new buyers in some of the northern states to get incremental sales. Meanwhile, Toyota Kirloskar is expanding its network into the hinterland and has added 50 new small locations to its network.Naveen Soni, Sr. VP, Sales & Service, Toyota Kirloskar, told ET that as the rural areas are relatively less affected by the lockdown, many people from the cities are migrating to their hometowns and other rural areas.“As a result of such ‘reverse migration’, we are witnessing a lot of potential for higher growth in smaller markets when compared to big metros or cities. With ‘reverse migration’ being an ongoing phenomenon at the moment, we foresee growth in such smaller towns to be sustainable,” added Soni.Urban dominated states such as Tamil Nadu and Kerala have witnessed volume contraction for passenger cars, while Maharashtra, the largest state by volume, had logged growth of just 9%. Gujarat and Karnataka were outliers in the urban focused states and registered growth of 21-22%.The two-wheeler industry tells a similar story. Volumes expanded 10-27% in UP, Bihar, MP and West Bengal in the September quarter, but the broader industry growth was lukewarm.Telangana and Andhra Pradesh had strong growth in two-wheelers - of 36% and 10%, respectively. By contrast, Gujarat, Punjab and Rajasthan witnessed demand contraction in the range of 17-30%.

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Ridhan Desai's top picks: Industrials, infra and realty

Mumbai: Infrastructure- and industrial-related stocks are expected to gain as India steps up spending, while pent-up demand could also boost the real estate sector, said Ridham Desai, MD, Morgan Stanley India. Staples-related consumption looks fully priced, while discretionary and travel related stocks could also be in the list of potential purchases, Desai said in a wide-ranging interview.Inflation is not such a big worry for the Reserve Bank of India (RBI), and negative real interest rates are here to stay for some time. Desai said that the Indian economy looks set to enter 2021 in a stronger position and the economy is on course for a contraction of 4.7% for the full year, which was Morgan Stanley’s initial estimate at the beginning of the year.“I’m still a little bit surprised, having said that, about the recovery in jobs,” Desai said. “Jobs are usually a lagging indicator. This in part may also be due to the fact that this slowdown was not induced by macro-economic factors but by an external agent. As the external agent faded, jobs came right back. Maybe that’s the reason we have seen a recovery in jobs to pre-COVID levels.”India will report its FY21 second-quarter GDP data on Friday and most economists expect a smaller contraction of under 10% versus the steep 23.9% decline in the first quarter. Economic indicators such as the purchasing managers’ index for manufacturing and services, GST collections, auto sales, consumer durable and smartphone sales have recovered sharply in the past couple of months, prompting some economists to believe that the year-end economic growth would be better than expected.Rating agency Moody’s has revised its full year FY21 GDP projection to a contraction of 10.6% from 11.5% drop estimated earlier.Desai said Morgan Stanley had estimated a 4.7% drop as it believes that there would be a V-shaped recovery once the stimulus finds its way into the real economy and that appears to be playing out.Indian stock markets have recovered smartly from the lows of March and the Nifty crossed 13,000 on Tuesday, becoming the second-best performing index in the world after the Nasdaq. Morgan Stanley estimated last week in its outlook that the Sensex would touch 50,000 by December 2021.The market’s biggest drivers so far have been technology, pharma, industrials, metals with banking playing catch up after the September quarter results pleasantly surprised the street.“I wouldn’t be bearish on consumer stocks. I would still take into where valuations are. And in that context, I think discretionary consumption and travel and related businesses still look like stocks to buy. In contrast, I think consumer staples are more fully valued. Those are not the stocks that I would want to buy,” he said.Desai is bullish on industrial, infrastructure related and real estate stocks given the government spending and commitments.

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Ind vs Aus: नए कलेवर में रंग जमाने उतरेगी टीम इंडिया, ऑस्ट्रेलिया के खिलाफ आज पहला वनडे

आठ माह के लंबे ब्रेक के बाद नए कलेवर और नए माहौल में विराट एंड कंपनी अंतरराष्ट्रीय क्रिकेट में रंग जमाने को तैयार है।

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हर 10 दिन बिना बैग से कक्षा में आएंगे छात्र, शिक्षा मंत्रालय ने राज्यों को भेजी स्कूल बैग पॉलिसी

पहली से 12वीं कक्षा के सभी छात्रों को दस दिन बिना बैग के कक्षा में आना होगा। इस दौरान छठीं से आठवीं कक्षा के छात्रों को वोकेशनल ट्रेनिंग के तहत कारपेंटर, कृषि, गार्डनिंग,लोकल आर्टिस्ट आदि की इंटर्नशिप करवायी जाएगी।

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Trump Says He Will Leave White House If Biden Victory Confirmed

President Donald Trump said Thursday that he would leave the White House if Joe Biden is officially confirmed the winner of the US election, but he repeated that he may not concede defeat.

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BJP MLA Files Case Against Lalu Yadav Over "Poaching" Attempt On Phone

A case was filed against Rashtriya Janata Dal's jailed president Lalu Yadav in Patna today by the BJP MLA who he had allegedly called while in custody and offered a ministerial berth in exchange for...

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Zydus Cadila hopes to launch vaccine by March

NEW DELHI: Zydus Cadila is expected to introduce its Covid-19 vaccine by March next year "if all goes well", a person with direct knowledge of the matter told ET. The Ahmedabad-based drug maker will submit the results of its phase-2 trials next week, which "will ascertain the safety, dose and efficacy of the potential vaccine", said the person who requested not to be identified. Subsequently, Zydus will apply for phase-3 trial which it plans to conduct on 39,000 participants in December. "If all goes well, the company expects to introduce the vaccine by March next year," the person said.Zydus has conducted phase-2 trials on 1,000 participants. Preliminary results show that it is safe as no safety concerns have been observed so far, people tracking the trials said. "The indications are safe and the trial is under control," one of them said. In a recent interview with ET, company chairman Pankaj R Patel had said, "We could be looking at manufacturing 100 million doses to begin with, once the vaccine receives all regulatory permissions." Zydus' vaccine technology centre (VTC) has in place the facilities for this, people aware of the matter said. The company is also exploring collaborations to make the vaccine available on a larger scale if need be, they said. Zydus had initiated phase-1 and 2 trials in July. The company partnered with National Biopharma Mission, BIRAC, department of biotechnology, government of India, to develop the plasmid DNA vaccine candidate, ZyCoV-D. With ZyCoV-D, Zydus has established the DNA vaccine platform in the country using non-replicating and non-integrating plasmid carrying the gene of interest, making it safe.

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Nielsen expects 3% fall for FMCG, but companies disagree

New Delhi: Market research firm Nielsen expects India’s fast-moving consumer goods (FMCG) sector to decline 3% in 2020, but companies in the sector considered resilient against economic cycles believe otherwise.Nielsen has lowered its earlier forecast of flat growth due to factors such as accelerating inflation and the first-quarter FY21 economic contraction. It had earlier predicted an expansion of 9-10% before the Covid-led lockdown had begun, which was later scaled down to an expansion of 5-6%, and subsequently to flat growth in July.However, companies disagree.“The (Nielsen) forecast is contrary to our expectations; we are seeing a healthy revival,” said Mayank Shah, senior category head at the country’s biggest cookies maker Parle Products, which sells Parle-G, Milano and Hide & Seek brands of cookies. “While there has been some downtrading in spending in urban India, overall the biscuits category is growing in both urban and rural markets and we expect the momentum to continue.”Sales over the web platforms and in rural areas point to a recovery underway.“We have seen a steady recovery in demand sequentially with some channels and geographies, like e-commerce and rural, growing at a fast pace. Although the situation is still fluid, we are hopeful that H2 would be better than H1,” said Lalit Malik, chief financial officer, Dabur India.Arvind Mediratta, MD & CEO, METRO Cash & Carry India, said the FMCG sector continues to exhibit strong growth.“I expect FMCG growth to be in the positive zone. People cannot do without basics like detergents and toiletries,” he added.However, a senior official at a large diversified FMCG company said categories such as deodorants saw a steep decline since consumers stayed indoors and that there is no way to recover that demand. “So we do expect a downgrade,” he added.September Quarter BoostThe downward revision is despite strong recovery in the July- September period compared to the earlier quarter. At an overall level, absolute sales have just touched the pre-Covid level, but growth was still lower compared with a year-ago period.The sector reported 1.6% value growth in the July-September quarter on account of gains from the rural markets and e-commerce channels. The recovery was led by categories such as staples, health and hygiene, Nielsen said.Government stimulus and reverse migration led to a double-digit growth of 10.6% in rural areas in the September quarter. Urban markets, especially, those in the metros also witnessed recovery.The recovery was led by the northern zone of the country where the number of covid cases was less compared to the western region which continues to be under stress, Nielsen added.While e-commerce and traditional trade grew contributing 3.1% and 88.7%, respectively, in terms of value to the FMCG sector, modern trade continued to be impacted contributing 8.2% to the industry in the third quarter.Consumer preferences toward affordable products also continued with premium categories fighting back in the third quarter. The value contribution of premium products in the entire FMCG basket declined one percentage point to 22.9 percent in the third quarter compared to Jan-March period. 79434805

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Private flyers’ club swells; business jets, charters popular amid COVID-19 pandemic

New Delhi: Business jet and helicopter operators registered growth for the first time in almost a year during the festive month of October. Travellers avoided commercial flights due to Covid-19 and politicians used helicopters while campaigning in the recently-concluded Bihar assembly elections.General aviation movements increased 9.4% to 23,140 from 21,160 a year earlier, government data shows. One take-off and landing comprise two aircraft movements. The last time monthly premium travel increased was in November 2019, when it rose 1.7%.Operators attributed growth to the beginning of festive season last month. Demand continued in November. “The premier reason for growth in traffic movement in October can be attributed to the festival season — when travel usually sees a spike — the nationwide unlocking and easing of travel restrictions,” Kanika Tekriwal, founder of New Delhi-based JetSetGo, told ET. “Many of our guests preferred taking long getaways during Dussehra and the long Diwali weekend by hiring a private jet… most people now have started realising the benefits that charters provide, including safe travel with minimal touch points,” Tekriwal added.Business jet operators said charter flights are no longer about luxury.“Private flying, typically associated with the rich and famous and all about luxury, is now focused on health and safety,” Rajan Mehra, chief executive, Club One Air, told ET. “Launch of exclusive general aviation terminals in places like Delhi have further widened the contrast between travelling commercial and private — no airport queues, no crowds, known crew members and small, sanitised aircraft.”Mehra, former India head of Qatar Airways, said, “Business jets were clocking double-digit growth, but (not) helicopter operators... Bihar elections boosted demand for helicopters.” 79437823Business jet operators told ET they expect demand to peak by year-end. “I predict that this trend will only increase in the coming months,” Mehra said. Tekriwal said demand for business jets could return to pre-Covid levels soon.

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Bonds are back in business, and telling us something

Mumbai: The pace of economic recovery is picking up momentum, and it is evident in the unusually large amounts of bond sales this month by the likes of Housing Development Finance Corp (HDFC), India’s biggest mortgage lender, and leading utilities company Tata Power.Railroad financier IRFC and National Highway Authority of India (NHAI) are among the mega infrastructure lenders that have joined index heavyweights in raising funds recently through bonds. Large companies have together raised Rs 30,537 crore through debt issues in the past three weeks, data compiled by JM Financial showed.“Corporates have intensified their bond sales with the economy opening up after the strict lockdown,” said Ajay Manglunia, managing director, institutional and head of fixed income at JM Financial. “The requirement of funds has gone up, with companies returning to normal production. Also, the ongoing festival season is adding momentum to it. The trend is likely to sustain, provided there is no second wave of infections.”Outstanding non-food credit given to individuals and institutions expanded for the first time on a year-to-date basis in this fiscal year, led by demand for retail loans during the festive season, RBI data showed. In the fortnight ended November 6, non-food credit stood at Rs 103.2 lakh crore, slightly more than Rs 103.1 lakh crore reported by banks as on March 27. On an absolute basis, outstanding credit has increased Rs 5,804 crore.Individual issuances above Rs 1,000 crore have been included in the list of the issuances since November 6 to ascertain the pace – and size – of debt fund raising.The spread between triple-A rated bonds and benchmark sovereign debt is now at 50-55 basis points, compared with 75-80 basis points in September. Shorter maturity rates have declined even more steeply.The banking system has a surplus liquidity of more than Rs 6 lakh crore, which is helping moderate the yield curve.“The primary market momentum is indicative of an overall pick-up in economic activity and improved financing environment,” said Kumaresh Ramakrishnan, CIO – Fixed Income, PGIM India Mutual Fund. “Companies now need funds as economic activity gains more traction.” HDFC raised Rs 5,000 crore, offering 5.78% on five-year bonds. NHAI raised a similar quantum, offering 6.94% with 17-year maturity.Some banks are still cautious about lending to longer gestation projects, but the falling rate environment should underpin borrowing from the bond market.Fewer but Larger Deals“The markets are looking beyond the pandemic,” said Shailendra Jhingan, managing director, ICICI Securities Primary Dealership. “There are fewer deals but larger deals. If you set aside regulatory liquidity support, we see traction among the financial companies in the bond market.”To be sure, bond sales were relatively high in the first two quarters of the financial year, but they were primarily driven by special measures aimed at providing liquidity to cash-starved companies, particularly non-bank lenders.IRFC, the financier for railroad projects, sold bonds worth Rs 4,652 crore, offering 6.85% with 20-year maturity. For three-year money Tata Power, not a frequent bond issuer, is paying 6%. The National Bank for Agriculture and Rural Development mopped up about Rs 6,000 crore in two series of bonds.

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Govt may bring anchor investors in PSU IPOs

Mumbai: Anchor tenants: Their glittering presence helped mall owners sell or lease expensive floor space as India opened up to organised retailing. A similar approach is very much likely when New Delhi begins the sale of shares in some of the companies it owns – and garner much more value by engaging bulge-bracket anchor investors.In an investor interaction hosted by the Mumbai-based DAM Capital, Tuhin Kanta Pandey, secretary of the Department of Investment and Public Asset Management (DIPAM), said that anchor allocations in public-sector IPOs are a key part of the value unlocking process and the government will be open to exploring it.The Centre is likely to use the option of involving anchor investors in its forthcoming multi-billion dollar IPO of the Life Insurance Corporation (LIC), said bankers. New Delhi had considered an anchor option in the ₹15,000-crore IPO of Coal India 10 years ago, but the idea was shelved. Pandey said that retail discounts are not required for a reasonably priced IPO citing the recent offer of Mazagon Dock, which saw a huge demand from retail investors. The government, according to DIPAM, is unlikely to launch any fresh PSU Equity Exchange Traded Fund (ETF) but may pursue Bharat Bond ETFs as the initial response to the first two issues has been very encouraging. In its maiden offer in December last year, Bharat Bond ETF had mobilised ₹12,400 crore while it had raised another ₹11,000 crore in July this year. The Central Public Sector Enterprises fund, or CPSE ETF, declined 21% so far this year compared with 6% gain by Nifty. DIPAM now seeks to pursue buybacks and dividends as a preferred route to raise resources while bringing new IPOs and achieving minimum public shareholding (MPS) norms wherever feasible. On investor concerns around capital allocation in certain PSUs, DIPAM secretary said that the government is trying to introduce tighter norms related to capital deployment, return on capital and asset returns.“This should help to remedy some of the capital misallocation challenges in these firms and help in value creation,” Pandey said.79434767 In a fundamental shift in strategy, the government, according to DIPAM is now prioritising large ticket strategic divestments with clear transfer of management control to non-government entities to generate revenues as against the earlier strategy of generating proceeds from partial equity stake sales across multiple entities. As of now, most of the divestments were solely around distressed assets. DIPAM is also working with the department of telecom on the asset monetisation of MTNL and BSNL properties. Pandey also said that the government is working on resolving issues around state regulations that may impact the divestment of some of the assets. He cited the instance of BEML, where the government is planning to demerge real estate assets from the company before the divestment.

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आज पुलिस-प्रशासन की अग्निपरीक्षा, हरियाणा-दिल्ली के सिंघु बॉर्डर पर टकराव के आसार

कृषि कानूनों के खिलाफ किसानों ने दिल्ली कूच का एलान किया हुआ है और वे वीरवार शाम को पानीपत में ठहर गए हैं, जिससे आज सोनीपत के प्रशासन व पुलिस के लिए अग्नि परीक्षा होगी।

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Petrol Diesel Price: आज फिर बढ़े पेट्रोल-डीजल के दाम, जानें कितनी हुई बढ़ोतरी

सरकारी तेल कंपनियों की ओर से डीजल और पेट्रोल की कीमतों आज बढ़ोतरी की गई है। डीजल की कीमत में 22 से 26 पैसे की बढ़ोतरी हुई है तो पेट्रोल की कीमत 17 पैसे से 19 पैसे तक बढ़ी है।

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चैट रूम से ब्लैकमेल करने वाले संचालक को 40 साल की जेल, महिलाओं से ऑनलाइन यौन उत्पीड़न व बेचने का मामला

दक्षिण कोरिया में एक ऑनलाइन चैट रूम के संचालक को 40 साल की जेल की सजा सुनाई गई है।

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Centre Is Monitoring Illegal Migrants In Hyderabad: G Kishan Reddy

Union Minister of State for Home Affairs G Kishan Reddy on Thursday said that the centre has reports on illegal migrants staying in the old city of Hyderabad and the government is working on this...

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एनसीआर के शहरों से दिल्ली में आज भी प्रवेश नहीं करेगी मेट्रो, शाम को होंगे हालात सामान्य

दिल्ली चलो मार्च के कारण लगातार दूसरे दिन शुक्रवार को मेट्रो ट्रेन एनसीआर के शहरों से दिल्ली में प्रवेश नहीं करेंगी।

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दिल्ली में रात्रि कर्फ्यू पर फैसला तीन से चार दिन में, अदालत ने सरकार की गंभीरता पर उठाए सवाल

कोरोना संक्रमण पर नियंत्रण के लिए रात्रि कर्फ्यू लगाने पर दिल्ली सरकार तीन-चार दिनों में निर्णय ले सकती है।

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महिला अधिकारों के लिए लड़ रहीं अल-हतलुल पर सऊदी अरब ने लगाए आतंकवाद के आरोप

प्रतिबंध के बावजूद कार चलाने से लेकर अन्य महिलाअधिकारों के लिए लड़ रहीं लुजिन अल हतलुल पर सऊदी अरब ने आतंकवाद व देश विरोधी गतिविधियों के आरोप लगाए हैं।

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टाटा समूह ने मार्केट कैप में एचडीएफसी व रिलायंस को पछाड़ा, टीसीएस टाटा की सितारा कंपनी

एक तरफ कोरोना से देश सुस्त हो रहा है तो दूसरी तरफ शेयर बाजार में नई ऊंचाईयों को छू रहा है। शेयर बाजार में तेजी से टाटा ग्रुप की कंपनियों को खूब फायदा हुआ है। टाटा की लिस्टेड कंपनियों का मार्केट कैप 14.27 लाख करोड़ रुपये हो गया है।

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Nomoshkar, Ek Minute. Abhishek Bachchan As Bob Biswas Takes Over Kolkata

In the photos, Abhishek can be seen sporting thick, square-framed glasses - just like Bob Biswas did in Kahaani

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Cyclone Nivar Weakens, But Heavy Rain In Chennai, Puducherry: 10 Points

Cyclone Nivar, which has weakened from a "very severe cyclonic storm" to a "severe cyclonic storm", made landfall near the costal town of Marakkanam in Tamil Nadu, 30 km north of Puducherry at around...

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Jharkhand Government Orders Probe Into Lalu Yadav's "Poaching" Audio Clip

The Jharkhand government on Wednesday ordered a probe into RJD president Lalu Prasad allegedly telephoning a NDA MLA in Bihar asking him to abstain from voting during election to Speaker of the...

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COVID-19 vaccine: What you need to know

With the coronavirus refusing to die down, despite multiple waves, lockdowns, social distancing and isolation, the world's only bet at beating the deadliest virus of our times is a vaccine. Thanks to advanced research and technology, we're closer, sooner than expected, to a vaccine candidate. Here's what you should know:Numbers, numbers: Just how many vaccine candidates are there? 79420387But, which ones should the world be optimistic about? 79420391And the outside candidates? 79420396How long before India gets its doses? 79420408(As everywhere, the rich get theirs first) 79420399What about manufacturing? 79420401

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India sought after for green energy pacts, says Renewables Secretary Indu Shekhar Chaturvedi

NEW DELHI: Foreign countries are actively seeking partnerships in renewable energy with India, whose ambitious targets will translate into an investment opportunity of Rs 1 lakh crore per year over the next decade, renewable energy secretary Indu Shekhar Chaturvedi told ET.“Bilaterally, we see great interest abroad in the Indian renewable energy story. Countries with impressive renewable energy capacities and experience are keen to partner with India,” he said.Chaturvedi said six countries — UK, Germany, France, Australia, Denmark, and Maldives — will be partners in the Global Renewable Energy Investment Meeting and Expo, which PM will inaugurate on Thursday. Over 200 manufacturers, developers and investors will also be speaking at the event.Officials said India is the world’s fastest-growing market for renewable energy, offering huge investment opportunities, as the country has set ambitious targets to expand capacity. India is already among the world’s top renewable energy producers with investments of more than Rs 4.7 lakh crore in six years.“India’s plans for renewables for 2030 will translate into an investment opportunity of around Rs 1 lakh crore per year. India has very liberal foreign investment policy for renewables, allowing foreign investors, either on their own or in joint ventures with Indian partners, to set up renewable energy based power generation in India,” a government official said.The government had taken a number of policy measures to ensure “ease of doing business” for renewable energy in the country, and to address challenges. It is also regularly consulting industry on various issues and necessary reforms. The international conference will also help the ministry of new and renewable energy in engaging with various stakeholders in the sector, officials said.“We expect to see informative and enriching sessions on a variety of areas, related to renewable energy over the three days of the conference,” Chaturvedi said.The government is also taking steps to support domestic production of solar equipment. Various government schemes have created a domestic demand and an assured market of around 40 GW of domestically manufactured solar PV cells and modules, officials said.Renewable energy is also making inroads in the farm sector, where millions of diesel pumps will be replaced by solar pumps.

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View: Covid 19 helped powering digital health innovation

By: Indu Bhushan, CEO, National health authorityThe Covid-19 pandemic has had at least one positive outcome — we have realised the power and potential of information technology (IT), as people look for remote consultations and online capabilities for finding appropriate providers and delivery of medicines.A large, accessible, efficient and effective healthcare ecosystem providing safe, affordable, timely healthcare is critical to the outcome of a nation. The government of India’s National Digital Health Mission (NDHM) aims to build an ecosystem that will bind all stakeholders together in a unified health system.It has the potential to provide the highest quality of healthcare to all Indians, regardless of their economic and social status, or geographical location. This would be done by ensuring that all citizens have access to all their health records in digital form, which can be shared with any provider after free and informed consent. Built on a citizen-first approach, NDHM takes into account the realities of digital experience of 1.3 billion Indians. NDHM has created a ‘sandbox’ that enables technologies or products to be tested in a contained environment and duration — subject to NDHM standards and oversight — and judge the consumer and market reactions to the same. The sandbox will facilitate integration of current systems and IT platforms in healthcare with NDHM building blocks namely, health ID, doctors’ and health facility registries and patient health records.At its core, the sandbox has been created with the objective to foster responsible innovation in health tech services, promote efficiency and bring benefit to consumers. The sandbox brings together healthcare and health tech service providers, centrally and state-run public health programmes, software providers, healthcare aggregators, tech companies to test and integrate their products and services with NDHM. Innovations emerging from this platform will not only reduce the healthcare gap between the rich and the poor by enhancing consumer choice, but will also spawn new technologies that will address the twin problems of digital illiteracy and digital poverty that impact access to healthcare. For instance, all of NDHM products such as health ID, doctor ID and hospital registry also have offline modules that will address the problems of lack of internet connectivity — especially in remote, rural and tribal areas. The NDHM sandbox is founded on the idea that the government, private sector and citizens need to work together as partners to solve the problem of healthcare. It will enable “learning by doing” on all sides. From getting primary empirical evidence on the benefits and risks of emerging technologies to re-innovating and sharpening technologies and tools that will transform the way citizens access and experience healthcare, this platform and NDHM will, with time, build India into a Digital Health Nation where all citizens are equal participants and no citizen is left behind.(With inputs from Anushree Goel, officer on special duty to CEO of National Health Authority)

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