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Business line April 10,2019 A sustained rally in cotton prices following weak crop prospects has started getting reflected in cottonseed prices as well, making cattlefeed (cottonseed cake) and edible oil (cottonseed oil) costlier. According to ginners, cotton seed prices have jumped about 25 per cent within a month’s time — from ₹2,400 a quintal in March to ₹3,000 now. “We typically see cottonseed prices rising near the end of the season, around July. But this time, the prices have started going up now and may further go up, making cattlefeed and cottonseed oil costlier,” said Bachubhai Antrolia, a ginner in Manavadar, Junagadh district. After the ginning process, cotton fibre is separated from the seed and the seed is then processed to make cake and oil. Cottonseed yields about 85 per cent cattlefeed or cake and about 15 per cent oil. According to Antrolia, a sharp increase in cotton prices has resulted in pricing disparity, and the units have had to trim their ope

Financial Express April 10,2019 IMF Chief Economist Gita Gopinath has become the latest to weigh in on the controversy surrounding India’s actual GDP growth, after a recent letter by 108 economist raised concern and sparked a debate on the credibility of official data. “There are still some issues with the way India calculates its growth rate and the IMF is paying close attention to the new numbers that are coming out,’’ Gita Gopinath said to CNBC in a recent interview. India, being touted among the fastest growing economies, is also an aspiring nation with one of the youngest populations in an aging world. However, the official growth numbers have come under severe criticism from time to time as the growth rate does not resonate with the situation on the ground, according to various experts. Although Gita Gopinath welcomed the changes made to the method of estimating GDP growth rate such as revision in base years, she raised concerns over the use of “deflator” in t

Financial Express April 10,2019 Even as trouble for aviation sector continues, GoAir sees the exodus of over two dozen senior officials in the last nine months. The CEO, the COO and the CCO, four vice-presidents besides other heads and general managers are among the top personnel who have made exit during the period starting July, citing different reasons. Since Cornellis Vriewijk’s exit in Feburary, the low-cost airline is operating without a CEO. The Dutch-national quit within nine months of taking over the job and cited ‘family reasons’ behind the reason to quit. The budget carrier has company MD Jehangir Wadia holding additional charge of the CEO since then. “The last three quarters of the previous fiscal saw the departure of some 15 top and senior executives from the airline. These include the CEO, the COO and the CCO, four vice-presidents besides scores of heads/general managers,” news agency PTI reported citing unidentified official. The other high-profile

Financial Express April 10,2019 It seems that  WhatsApp  will have to wait a little longer for the full-scale commercial launch of its BHIM UPI-compliant payment service, the process for which began over three years ago in 2016. The instant messaging application is likely to meet the requirement of storing consumers payment data in India by June-July this year and then approach the Reserve Bank of India ( RBI ) for a fresh approval. At present, the Facebook-owned company is running a pilot for the service, WhatsApp Payments, with close to 1 million users.  Google  Pay leads the payment service providers market in India followed by Paytm, PhonePe, BHIM app and Axis Pay. Sources said WhatsApp will approach the banking regulator around July after it makes arrangements for storing and processing payments service data in India. Last month, the RBI, in an affidavit to the Supreme Court, said that WhatsApp has not met data localisation requirement. “RBI has been following up with

Indian Express April 11, 2019 The National Investigation Agency (NIA) on Monday questioned Kashmiri separatist leader and Hurriyat Conference chairman Mirwaiz Umar Farooq in connection with a case related to alleged terror funding. Mirwaiz may again be called for examination on Tuesday, sources said. In a statement, the Union Ministry of Home Affairs (MHA), said, “Appearance of Mirwaiz before NIA proves (the) government’s determination to establish that Kashmiri separatist leaders will have to be held accountable to the law of the land.” According to NIA officials, Mirwaiz was asked to appear before the agency on March 11 and March 18, but he expressed his inability to join the investigation in Delhi, maintaining that he fears for his security in view of “conditions of hostility”. In its third summons, issued last week, the NIA promised him security. On Monday, officials said, Mirwaiz was provided security on his arrival at Delhi’s IGI Airport — among other separati

The Hindu April 08, 2019 Sri Lanka has sought enhanced military training from India, according to President Maithripala Sirisena’s office. Visiting Indian Defence Secretary Sanjay Mitra called on Mr. Sirisena on Monday, and wide-ranging matters, including bilateral defence cooperation between the neighbouring countries and regional security, were discussed, officials said. “India and Sri Lanka agreed to increase cooperation in security and defence spheres in several areas, including regional security, curbing drug smuggling and human trafficking and training of members of the security forces,” a statement from the presidential media unit said. Thanking India for its partnership, Mr. Sirisena requested to increase the number of personnel trained by India. The Indian Defence Secretary agreed to look into the possibility of enhancing training facilities, the statement further said. Currently, over 60% of Sri Lanka’s military personnel pursue their young officers’ c

The Hindu April 08,2019 Representatives from various ethnic and religious minorities of Pakistan have held a peaceful demonstration in front of the White House here against what they described as “the worst kind of genocide” they are facing in Pakistan and asked the international community to help them exercise the right to self-determination. The ruling Pakistani establishment is driving ethnic identities towards eradication, they alleged. “It is now incumbent that International Community must understand our plight, and help us achieve the Right of Self Determination, ” said Rehan Ibadat, central organizer, the Muttahida Qaumi Movement (MQM) USA. “As a collective effort we have gathered today to represent all the oppressed ethnic groups residing in the current geographical boundaries of Pakistan. We Mohajir, Baloch, Gilgit-Baltistan, Pashtun, and other religious minorities demands separate land by exercising our right to self determination,” participants of the pro

News 18 April 08, 2019 Three influential US lawmakers have urged the Trump adminstration to oppose the proposed multi-billion bailout package being sought by Pakistan from International Monetary Fund (IMF) arguing it could be used to repay the Chinese debt. In a letter to Treasury Secretary Steven Mnuchin and Secretary of State Mike Pompeo, the bipartisan group of three lawmakers Ted Yoho, Ami Bera and George Holding expressed their "deep concern" over the likely use of IMF's bailout package to repay the massive Chinese debt that Pakistan has accumulated under China Pakistan Economic Corridor (CPEC).  "We write to express our deep concern over attempts made by the Government of Pakistan to seek a bailout deal with the International Monetary Fund to retrieve debts incurred from predatory Chinese infrastructure projects," the Congressmen said in a letter dated April 5. China, they said, is investing USD 62 billion in Pakistan under CPEC. "

The Firstpost April 08, 2019 Those who though that the BJP’s 'Sankalp Patra' for 2019 parliamentary polls would carry something in terms of offering a greater dole for greater mass of Indian population to counter Congress’ Nyuntam Aay Yojana (NYAY) or Minimum Basic Income Scheme (MBIS) would be disappointed that it didn’t contain anything of that sort. The party did promise pension for senior citizens from the farming community, removal of ceiling of five acres to compensate farmers' input to the tune of Rs 6,000 per year, overhaul of GST and some benefits for small businessmen and traders but that was short of details to qualify for what are called populist promises. There is no ready data available, but given the fact that population boom in India led to fragmentation of land holdings, the number of individual farmers owning two hectares or five acres of land would be small. The quiet inclusion of this section in PM Kisan Samman Nidhi Yojna (PMKSNY) has bigger

Space April 08, 2019 Two days after India’s March 27 anti-satellite test, called Mission Shakti, NASA had reportedly suspended activities under the NASA-ISRO Human Space Flight Working Group with the Indian Space Research Organisation (ISRO). Less than a week later, NASA resumed cooperation, SpaceNews reported. In a letter to ISRO chairman K. Sivan dated April 4, NASA administrator Jim Bridenstine wrote: “As part of our partnership with you, we will continue to work on issues using the NASA-ISRO Human Space Flight Working Group. Based on guidance received from the White House, I look forward to continuing these groups in the future.” Bridenstine had censured India’s anti-satellite missile test last week, saying that the event created 60 pieces of orbital debris big enough to track and 400 pieces of debris in total. Of these, 24 pieces rise higher than the International Space Station’s orbit around Earth. “That is a terrible, terrible thing, to create an event th

The Firstpost April 09,2019 The Revenue Department on Monday told the Election Commission that its enforcement actions are always ‘neutral', ‘impartial' and ‘non-discriminatory' irrespective of political affiliation and urged the poll panel to share "specific information" with the I-T department about illicit money in the electoral process, sources said. The Election Commission in its letter to Revenue Secretary Ajay Bhushan Pandey on Sunday had “strongly advised” that any action by its enforcement agencies during the election time should be "neutral" and "non-discriminatory" and officials of the poll panel should be kept in the loop about such actions. In its response, sources said, Pandey wrote to the poll panel saying, “We understand the words ‘neutral', ‘impartial' and ‘non-discriminatory' mean that we must act as and when information is available against anyone, irrespective of political affiliation. This is precisely t

Reuters April 09,2019 Adani Enterprises has taken a step closer to the construction of a controversial thermal coal mine in Australia after winning federal government approval for its groundwater management plan. Adani wants to develop the Carmichael coal deposit in Queensland state, but has faced fierce environmental resistance that has turned the project into a political hot potato ahead of a federal election due next month. Environment Minister Melissa Price said on Tuesday the project still needed nine further approvals from the Federal and Queensland state governments before mining can start. “This decision does not comprise the final approval for this project,” she said.  Adani wins govt approval for groundwater management plan for Australian coal mine, project still needs 9 more clearances The groundwater management plan also requires approval from the state government, the state’s environmental department told Reuters last week, which is also assessing a ma

The Firstpost April 09,2019 The National Company Law Appellate Tribunal Monday directed debt-ridden IL&FS to submit information over investment made by pension and provident funds in its four group firms, and also sought details of financial liabilities of those entities. These four 'amber' companies are -- Hazribagh Ranchi Expressway, Jharkhand Road Project Implementation Company, Moradabad Bareily Expressway and West Gujarat Expressway. The NCLAT also made clear that it has not stopped IL&FS and its group entities from going for a resolution process. During the proceedings of the appellate tribunal, a two-member bench headed by Justice SJ Mukhopadhaya observed that the money invested by a pension fund, and provident fund in the IL&FS companies should be released first. "Provident fund and pension fund have nothing to do with this, this is not your money, it is related to the employees. "We want that it should be released first," the be

The Quint April 09, 2019 It’s a crowded field in Israel’s elections as over 40 parties will be slugging it out on Tuesday, 9 April, for seats in the country’s parliament. There is the right-wing flagship, centrist newcomers, ultra-Orthodox parties, Arab parties and fringe movements. But only a handful will win the necessary 3.25 percent of total votes cast to cross the electoral threshold needed to enter the Knesset. Israeli democracy operates on a parliamentary system of proportional-representation in which the government needs a majority to rule. Since no party has ever earned more than 61 of the 120 seats in the Knesset, a coalition is required. Polls show Prime Minister Benjamin Netanyahu’s rightist Likud in fierce competition with the centrist Blue and White party. Both camps are trying to rile up their bases to become the largest party in parliament while also convincing the smaller parties to join them in a coalition after the results become known. Here's a look

Hindustan Times April 09, 2019 Jaish-e-Mohammed commander, Nisar Ahmed Tantray, deported from the UAE to India last Sunday, has disclosed that he knew about the February 14 Pulwama suicide car bombing because the key conspirator, Mudassir Khan, had asked him to participate in a “spectacular” attack being planned at the instructions of JeM’s leadership in Pakistan, an official involved in Tantray’s interrogation said. This is the first confirmation from a JeM commander that the Pulwama attack was carried out on the orders of the outfit’s leadership, and that Khan was the person who executed it. Until now, Indian investigative agencies were depending on intelligence inputs and the questioning of some lower-level JeM terrorists. Tantray, the brother of slain JeM leader Noor Ahmed Tantray, fled from India on February 1 this year. According to an intelligence bureau officer who spoke on condition of anonymity, he has significant influence over JeM cadres in Kashmir valley, particu

Hindustan Times April 09, 2019 India retained its position as the world’s top recipient of remittances with its diaspora sending a whopping USD 79 billion back home in 2018, the World Bank said in a report Monday. India was followed by China (USD 67 billion), Mexico (USD 36 billion), the Philippines (USD 34 billion), and Egypt (USD 29 billion), the global lender said. With this, India has retained its top spot on remittances, according to the latest edition of the World Bank’s Migration and Development Brief. Over the last three years, India has registered a significant flow of remittances from USD 62.7 billion in 2016 to USD 65.3 billion 2017. “Remittances grew by more than 14 percent in India, where a flooding disaster in Kerala likely boosted the financial help that migrants sent to families,” the Bank said. In Pakistan, remittance growth was moderate (seven per cent), due to significant declines in inflows from Saudi Arabia, its largest remittance source. In Banglades