Happy Media

India Today, Divyesh Singh, January 16, 2020 The Mumbai Police and Maharashtra ATS have launched a manhunt to trace one of the most wanted terrorists in the country. Dr Jalees Ansari, also known as Dr Bomb, has been accused of plotting and executing over 50 bomb blasts across the country since early 90s. And he has gone missing during parole. Ansari, who is serving a life term in Ajmer jail, was visiting his family in Mumbai on parole and was due to report back at the prison on Friday morning. On Thursday, Ansari's family members in Mominpada approached the Agripada police station in Mumbai and said that he had gone missing. According to police officials, Ansari left for early morning namaz at around 5 am but did not return home. It was only after several hours had passed and his phone was found to be switched off. The Agripada police then sent an SOS alert at the police control room about Ansari and the same was passed to Maharashtra ATS. The Mumbai c...

The Indian Express: Reuters: January 16, 2020 Malaysia is talking to Indian government and trade officials in a bid to resolve concerns over New Delhi’s new palm oil import restrictions, a minister in Kuala Lumpur said on Thursday amid a trade spat between the countries. India’s Hindu nationalist government has repeatedly objected to Malaysian Prime Minister Mahathir Mohamad speaking out against recent policies of New Delhi that critics say discriminates against Muslims. Malaysia is a Muslim-majority nation. India, the world’s biggest buyer of edible oils, last week placed curbs on imports of refined palm oil and has informally asked traders to stop importing all kinds of palm oil from Malaysia, the world’s second-biggest producer and exporter of the commodity after Indonesia. Reuters reported on Wednesday, citing sources, that New Delhi could also restrict the import of petroleum, aluminum ingots, liquefied natural gas, computer parts and microprocessors from Malaysi...

Business Line, January 16, 2020 Suresh P Iyengar In a major boost to revive options trading in commodity markets, SEBI has allowed exchanges to launch option trading based on spot market prices and removed the major impediments of options devolving futures market. The market regulator SEBI has also removed the minimum average daily volume criteria of a commodity in futures market to be eligible for launching options. Currently, for launching options trading, a particular agriculture commodity should have registered a minimum average daily volume of over ₹200 crore on the futures market. For a non-agricultural commodity, it is over ₹1,000 crore. In addition, the options contract, on expiry, devolves into that particular commodity’s futures contract. Following this, a trader has to start paying margins, which are not applicable on an options contract. SEBI has now allowed settlement of option contracts based on spot market and all the options contract would be on compul...

The Hindu: Suvojit Bagchi: December 10, 2020 A visa regulation, introduced by India about a year ago, has deeply irked Bangladesh. Following the regulation, members of the majority community of Bangladesh, Muslims, are now paying a penalty which is at least 200 times higher compared to the minorities, mainly Hindus, if they overstay in India. Bangladesh Foreign Ministry officials described the penalty structure as “discrimination on religious lines”. The officials said that they will raise the issue in the upcoming bilateral talks. The issue surfaced during Prime Minister Sheikh Hasina’s Kolkata visit about two weeks ago. Bangladeshi cricketer Saif Hasan had overstayed his visa. He informed the Deputy High Commission office in Kolkata, which in turn spoke to the FRRO. FRRO rules The FRRO rules, posted on its website, noted that the “penalty of overstay” for “minority communities from Pakistan, Bangladesh and Afghanistan” is ₹500 for more than two years, ₹200 for...

Business Line, S Ronendra Singh, January 16, 2020 Verdict may force Voda-Idea to shut shop, say analysts In a setback to telecom operators Bharti Airtel and Vodafone-Idea, the Supreme Court on Thursday dismissed their plea seeking a review of its earlier order asking them to pay ₹1.47-lakh crore in past statutory dues of adjusted gross revenue (AGR) by January 23. “Applications for hearing in open court/ oral hearing are rejected. Having perused the review petition and the connected papers with meticulous care, we do not find any justifiable reason to entertain the review petitions. The review petitions are, accordingly, dismissed,” a Bench comprising Justices Arun Mishra, S Abdul Nazeer and MR Shah said in the order. The apex court verdict may force Vodafone-Idea to shut shop, as the company has already made huge investments and there is not much to gain from its operations, due to steep competition from Reliance Jio and Airtel. Kumar Mangalam Birla, Chairman, Voda...

Business Line: January 14, 2020 Rules of commerce are being re-written in a world where nationalism has surpassed globalisation, according to Kumar Mangalam Birla, Chairman – Aditya Birla Group. Penning down his thoughts in an article titled '2020: My Reflections, My Learnings', Birla said, " The tension between nationalism and globalization is reshaping the world and, will perhaps be the most defining trend as we head into a new decade." Referring to the phrase coined by Thomas Friedman- the world is flat- Birla said the world was a very different place. "Back then he (Friedman) opined that technology and geopolitics were reshaping our lives while we were sleeping. Now that we are wide awake, I see a very different world, dealing with the consequences of globalisation and its discontent," Birla wrote in the post, first shared on LinkedIn. "While the march of globalization is perhaps inevitable, what is certain is that the world is no ...

New 18: January 17, 2020 New Delhi: Young children being radicalised need to be identified and placed in de-radicalisation camps, Chief of Defence Staff (CDS) General Bipin Rawat said on Thursday at the Raisina Dialogue, a conclave of global affairs being hosted by India. “To say that radicalisation cannot be countered, I don’t agree with this. Anything that has started can be put to an end. Radicalisation can be countered. You have to start looking at where the radicalisation is happening. And who are the people who are radicalising these people. It is happening in schools, universities, religious places and sites, and there are a group of people who are spreading this,” he said. “So you first get to the nerve of who is radicalising people. Then you can start isolating these people gradually and then start the counter-radicalisation program while identifying people who have been radicalised to what degree. You have got to segregate them into degrees. And then look at tho...

Firstpost, January 17, 2020 ED summons Air Asia senior executives, CEO Tony Fernandes in money laundering, FEMA case     The agency had registered a case under the Prevention of Money Laundering Act against the airline and its officials in 2018 Fernandes has been summoned on 20 January, a few others have also been asked to depose for questioning in the following days The ED case was registered after the CBI filed an FIR to probe these allegations New Delhi: The Enforcement Directorate (ED) has summoned senior executives of Air Asia including CEO Tony Fernandes for questioning in connection with a money laundering case, officials said on Thursday. The agency had registered a case under the Prevention of Money Laundering Act (PMLA) against the airline and its officials in 2018.  ED summons Air Asia senior executives, CEO Tony Fernandes in money laundering, FEMA caseFile image of an AirAsia aircraft. Reuters Officials said while Fernandes has been...

The Hindustan Times:  Saubhadra Chatterji: January 17, 2020 Lawmakers should be given more time to study the Union budget and have a deeper understanding of the budgetary process to help India’s economic growth, presiding officers of Parliament and several state assemblies concluded on Thursday. During a debate on “scrutinizing budgetary proposal” at the 7th Commonwealth Parliamentary Association (CPA) India Chapter, delegate after delegate spoke about shortcomings in the budgetary process. The discussion assumes significance as the budget sessions of Parliament and state assemblies will begin in the coming weeks. Parliament’s budget session is scheduled from January 31 to April 3, with a recess in between. Lok Sabha Speaker Om Birla, who heads the conference, pointed out that capacity building of lawmakers was essential to have “an informed and meaningful discussion on the budget”, and announced that a team of experienced MPs would go to the states to discuss the...

The Print: Abhishek Vishnoi: January 17, 2020 Singapore: India’s top court’s rejection Thursday of an appeal by wireless carriers to review $13 billion they owe to the government raises risks for lenders to the companies, according to UBS Group AG. Payment of the dues may erode the telecom operators’ cash flows, especially those of Vodafone Group Plc’s India venture. Under the October verdict, Vodafone Idea Ltd. has to pay $4 billion, while Bharti Airtel Ltd. has to give $3 billion by the end of next week. The court also rejected requests to rehear petitions seeking relaxations on the deadline. “IndusInd, YES, SBI appears to have relatively high exposure to Vodafone Idea,” analysts Vishal Goyal and Ishank Kumar wrote in a note. For the banking system, loans outstanding to the telecom sector were 1.1 trillion rupees or 1.3% of total loans in September, the note added. IndusInd Bank, Yes Bank and Punjab National Bank are the least preferred stocks in the sector, accor...

The Print, Tom Metcalf, January 17, 2020 London: As the gulf between the rich and everyone else continues to grow, at least 119 billionaires are converging on Switzerland next week to join bankers, politicians and other grandees for their annual pilgrimage to the Alps. The elite group, worth about $500 billion, includes regulars like Bridgewater Associates LP founder Ray Dalio, Blackstone Group Inc. Chairman Steve Schwarzman and JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon. They appear on a guest list of more than 2,000 names, representing roughly 100 countries, for the World Economic Forum’s annual meeting in Davos. The event retains its enduring status as the premier networking hub for the world’s wealthiest — with its attendant flock of private jets and $43 hot dogs — even as it faces increasing criticism for its exclusivity. “I’ve been going since 1979,” said India’s Rahul Bajaj, who will be making his 40th appearance at the event. “It’s grown a gr...

The Print: SWANSY AFONSO  and  RAJESH KUMAR SINGH: January 17, 2020 Mumbai/New Delhi: A push to modernize Asia’s oldest railway network could help spur demand for zinc, according to India’s sole producer. Prime Minister Narendra Modi has outlined a plan to spend about $1.5 trillion to upgrade and build infrastructure over the next five years to shore up economic growth, boosting the outlook for zinc, used to galvanize steel and prevent corrosion. There are early signs of a possible pick up — Indian Railways is setting targets to lay zinc-coated rails and has fitted stations with galvanized roofs to replace asbestos sheets, according to Hindustan Zinc Ltd. Chief Executive Officer Sunil Duggal. Asia’s top zinc producer by market capitalization has been campaigning for Indian Railways to increase their use of galvanized steel in its rail lines, although the material is also used in industries from construction to cars. The country produces about 100 million ton...

Livemint, January 17, 2020 Private sector lender RBL Bank which has raised ₹2,025.27 crore from institutional investors through a qualified institutional placement (QIP) offering, has drawn up plans to increase presence in key growth areas. In an interview, Vishwavir Ahuja, RBL Bank’s managing director and chief executive officer, lists the lender’s current priorities as it seeks to steer out of a recent spike in non-performing assets (NPAs) amid concerns of an uncertain business environment because of stalling growth. In the last few quarters, we have seen non-performing loans spike at RBL Bank. What went wrong there? When we reflect on the last six months, we don’t find that we got our risk culture wrong or our underwriting standards wrong. Because, if you see, so much has happened in the economy in the last few years, which has been unfavourable and so many corporate situations have come under stress. Some because of poor governance and high leverage. We avoided all of...

The Hindu, January 17, 2020 The JNU administration on Thursday said that out of the 6,450 students residing in its various hostels around 65% have cleared their dues by paying the new hostel fees. The remaining, it said, were returning to the campus from home and have time till January 17 to register without having to pay late fees. When it comes to day scholars, they said that nearly 95% of students have cleared their semester dues. ‘Last-minute rush’ “Since January 15 [Wednesday] was the last date for registering for the winter semester, there was a last-minute rush. Several students have approached us to extend the last date for winter with an appeal for extension of date of registration by another two days. Therefore, to facilitate their registration process, the university has decided to extend the last date for one final time up to January 17. After this date also, students can register but they will have to pay the late fee as per University rules.” the universit...

Hindustan Times, January 16, 2020 Chinese President Xi Jinping welcomed the partial trade deal between China and the US signed in Washington on Wednesday in a brief letter to counterpart Donald Trump. That aside, the Chinese reaction to the deal, which is being interpreted as a ceasefire and not a truce, from analysts and official media in Beijing, have been calibrated -- optimistic but certainly cautious. Optimistic because after 22 months of a tit-for-tat trade dispute, there’s definitely some movement forward, seemingly a temporary cessation of economic hostilities. Cautious because much more needs to be done to smoothen the economic mistrust that both Washington and Beijing have for each other. Trade between China and the US is expected to pick up after the deal and the easing of trade frictions. According to the People’s Daily website, between November and December, the growth of China’s imports from the US recovered some. US shipments to China rose by 9.1 percent ...

Hindustan Times, January 16, 2020 The United States has indicted five men for illegally exporting US-origin goods to two Pakistani government agencies that are on America’s list of sanctioned entities for their ties to the country’s nuclear weapons programme, exposing, once again, Pakistan’s thriving nuclear black-market. The five men named in the indictment that was unsealed in a US court on Wednesday are residents of Pakistan, Canada, Hong Kong and the United Kingdom and remain at large with outstanding warrants for their arrest, the US department of justice said. The indictments were handed out by a grand jury in October 2019. “The defendants smuggled US origin goods to entities that have been designated for years as threats to US national security for their ties to Pakistan’s weapons programs,” said Assistant Attorney General for National Security John C. Demers in a statement. Their alleged actions also posed a threat to the “delicate balance of power among nat...

Hindustan Times, January 17, 2020 Several dozen indigenous leaders and representatives of Amazon communities have gathered in the heart of the threatened rainforest to form an alliance against Brazil President Jair Bolsonaro’s environmental policy and his threats to throw their homelands open to mining concerns. The main objective of the meeting is to present a united front against Bolsonaro’s plans, which they say pose a threat to the Amazon and their way of life, as well as threaten open conflict over land rights. “I don’t want anyone to die in front of me. I don’t want everyone to kill each other, the white people against the indigenous,” prominent Raoni chief Metuktire told the meeting, which began on Tuesday. “Bolsonaro says a lot of bad things about us. He doesn’t attack only the indigenous, but he attacks us more than anyone,” said the Raoni chief, his head adorned with an array of colorful feathers, his body smeared with black paint. Wearing a labret -- th...