Home Blog Page 240

Ola’s Bhavish Aggarwal Talks About Tesla’s Investment in India

By
Dhruv
-
0

Bhavish Aggarwal, the founder and CEO of Ola, remarked that Tesla’s decision not to invest in the Indian market is a significant loss for the Elon Musk-owned company, not for India. He highlighted the rapid growth of the Indian electric vehicle (EV) and lithium industries, suggesting that it may be too late for Tesla to enter the market in the future.

Aggarwal posted on X (formerly Twitter): “If true, this is Tesla’s loss, not India’s. While the Indian EV and Lithium ecosystem is early, we’re gaining momentum quickly. It’ll be too late for Tesla when they look at India seriously again in a few years.”

This statement follows a Bloomberg report indicating that Tesla has not pursued inquiries with officials in New Delhi and is no longer expected to invest in India. This report comes weeks after Elon Musk postponed his visit to India, citing financial issues. Tesla has no plans to allocate new funds to the Indian market.

Tesla recently reported a second consecutive decline in global deliveries for this quarter and faces growing competition from China. The company also announced job cuts, stalled the sale of its flagship Cybertruck, and delayed the construction of its plant in Mexico.

The report also mentioned that the Indian government might now focus on domestic companies like Mahindra & Mahindra and Tata Motors to enhance EV production in the country.

Meanwhile, Ola is set to debut on the market after the Securities and Exchange Board of India (SEBI) approved Ola Electric’s IPO in June 2024. The IPO will feature a primary issuance of ₹5,500 crore and a secondary sale of ₹1,750 crore. This approval makes Ola Electric the first EV startup to receive such clearance from the market regulator.

Congress Believes Government is Sabotaging Children’s Education

By
Dhruv
-
0

On Friday, the Congress criticized the Union government, accusing the Education Ministry of “sabotaging” children’s education due to delays in printing Class 6 textbooks.

“Despite the school year starting, the NCERT – or as I call it, the National (read Nagpur) Council of Educational Research and Training – has failed to publish new Science, Mathematics, and Social Sciences textbooks for Class 6 students,” Congress general secretary Jairam Ramesh posted on ‘X’.

Ramesh alleged that the National Syllabus and Teaching Learning Material Committee (NSTC) has not yet finalized the syllabus and textbooks, and it will take another 10 to 15 days to print them. He also claimed that officials anticipate a two-month delay before the books are available to students.

According to PTI, the new textbooks, which were supposed to be introduced in April, are still not on the market. Although Class 3 textbooks are available, only English and Hindi textbooks have been released for Class 6, and this in the middle of the academic session.

In response to the NEET controversy, Education Minister Dharmendra Pradhan stated, “Congress only wants chaos and confusion.”

The Ministry of Education (MoE) formed the NSTC last July to create new textbooks for Classes 3 to 12 with a February deadline. However, the NSTC decided to change textbooks only for Classes 3 and 6.

“For the 2024-25 academic year, new and engaging textbooks will be introduced for Classes 3 and 6. The textbook development work is in the final phase, and nine textbooks for Grades 3 and 6 are already available. The remaining eight will be available very soon,” a senior Ministry of Education official said, according to PTI.

“Either the rot runs deep, or the incompetence scales new heights every day!” Ramesh remarked, noting that NCERT has yet to receive the drafts of the new Social Science, Mathematics, and Science books for Class 6 from the NSTC.

On Thursday, Education Minister Dharmendra Pradhan reviewed the progress of school textbooks under the New Curriculum Framework (NCF), reported PTI.

Indian Defense Production Has Managed to Hit a New Peak: MoD

By
Dhruv
-
0

New Delhi, India’s annual defense production reached a record high of approximately ₹1.27 lakh crore in 2023-24, with the Make in India program achieving new milestones, Defence Minister Rajnath Singh announced on Friday.

In FY 2022-23, the value of defense production was ₹1,08,684 crore.

On social media platform X, Singh emphasized the government’s dedication to fostering a conducive environment for making India a leading global defense manufacturing hub.

“The Ministry of Defence has achieved the highest-ever growth in indigenous defense production in value terms during the financial year 2023-24, due to the successful implementation of government policies and initiatives led by Prime Minister Narendra Modi, focused on achieving ‘Aatmanirbharta’,” the defense ministry stated on Friday.

Defense production reached an all-time high of approximately ₹1.27 lakh crore in 2023-24.

“According to data from all Defense Public Sector Undertakings, other PSUs manufacturing defense items, and private companies, the value of defense production in the country rose to a record ₹1,26,887 crore, reflecting a growth of 16.7 percent over the previous financial year,” the statement detailed.

Singh congratulated the Indian defense industry, including public sector undertakings and private companies, for this accomplishment.

“The Make in India program continues to set new records under the leadership of PM Shri @narendramodi,” he posted.

“India has seen the highest ever growth in the value of defense production in 2023-24. The value of production reached ₹1,26,887 crore, which is 16.8 percent higher than the previous financial year,” Singh wrote on X.

The defense ministry highlighted that “of the total value of production in 2023-24, about 79.2 percent has been contributed by DPSUs/other PSUs and 20.8 percent by the private sector.”

Both DPSUs/PSUs and the private sector have shown steady growth in defense production, according to the statement.

This achievement results from policy reforms, initiatives, and ease of doing business introduced by the government over the past decade, focusing on self-reliance, the ministry explained.

“The sustained and aggressive pursuit of indigenization efforts has led to the highest ever VoP. Additionally, significant growth in defense exports has contributed to the overall increase in indigenous defense production,” the statement added.

Defense exports hit a record high of ₹21,083 crore in FY 2023-24, a 32.5 percent increase over the previous fiscal year’s ₹15,920 crore.

Over the past five years, the value of defense production has steadily increased by over 60 percent, the statement noted, providing year-wise data for the period.

British Stocks Rise After Rishi Sunak Loses Elections

By
Dhruv
-
0

On Friday, the pound, British stocks, and government bonds saw gains following a significant victory by the centre-left Labour Party in a parliamentary election.

The FTSE 100 index increased by 0.38% at the opening, while midcap stocks rose by 0.4%. The yield on 10-year British government bonds, known as gilts, fell 3 basis points to 4.17%, aligning with other European markets.

Sterling climbed nearly 0.1% against the dollar, reaching $1.2777 by 0708 GMT, and remained stable against the euro, which stood at around 84.75 pence.

Labour achieved a commanding majority in the 650-seat parliament, with Rishi Sunak’s Conservatives experiencing their worst performance in history due to voter dissatisfaction over the cost of living crisis, failing public services, and multiple scandals.

“A landslide victory provides the sort of clarity and stability that equity markets need in an increasingly volatile world,” said Ben Ritchie, Head of Developed Market Equities at abrdn. “If the new government gets this right, businesses with significant exposure to the UK economy should be the likely winners, particularly companies in the FTSE 250 and FTSE Small Cap.”

Since Sunak called the election in late May, earlier than expected, sterling has edged up. It has been the best-performing major currency against the dollar this year, with a 0.3% gain. On a trade-weighted basis, the pound is now back to its 2016 level, reflecting traders’ and investors’ belief that a period of market volatility under the Conservatives may be ending.

“We knew Labour would win, so this doesn’t change much for sterling. Now, we want to know Labour’s plans,” said Kenneth Broux, head of corporate research for FX and rates at Societe Generale. “Investors have been long on sterling, and the results won’t change that sentiment.”

Reflecting pre-election calm, the risk premium for holding gilts over top-rated German 10-year bonds has remained stable around 160 basis points this year, far from the 230 bps seen during the 2022 mini-budget crisis.

UK stocks have hit record highs this year, supported by a slow-growing but stable economy and decreasing inflation.

However, the memory of the market chaos triggered by former Prime Minister Liz Truss’ “mini-budget” in September 2022 is still fresh, and Britain’s strained finances will limit the new government’s spending capacity.

Truss lost her parliamentary seat in Thursday’s election.

“Labour has pledged significant spending but only has around £20 billion of fiscal headroom, so balancing the books is a key question,” said Pepperstone senior research analyst Michael Brown. “Labour’s plan for 2.5% annual GDP growth is ambitious, and if not achieved quickly, significant fiscal tightening could occur.”

In recent years, Britain has faced high inflation and interest rates among developed nations. UK 10-year government bond yields have risen to around 4.2% this year as investors anticipate British interest rates will take longer to decrease.

The Bank of England is expected to lower interest rates in either August or September. Analysts suggest that investors will soon shift focus from the election results to monetary policy.

“There’s limited room for dramatic fiscal policy changes,” said Fiona Cincotta, senior markets strategist at City Index. “So, market movement will likely hinge more on the Bank of England’s actions than the election results until the Autumn Statement.”

Private Hospitals in Pune to Test Fever Patients for Zika Virus

By
Dhruv
-
0

As of July 4, Pune city has reported seven Zika virus cases, the highest in the state, including two pregnant women.

Prithviraj BP, additional municipal commissioner of the Pune Municipal Corporation (PMC), held a meeting with the health department on Saturday. Health officials have been directed to meet with all private hospitals, doctors, and practicing obstetricians and gynecologists to enhance testing and surveillance for the Zika virus.

Dr. Kalpana Baliwant, PMC health officer, announced that a meeting will be held on Monday with major private hospitals, general practitioners, the Indian Medical Association, and the Federation of Obstetric and Gynecological Societies of India (FOGSI).

“All major hospitals will be instructed to have their obstetricians and gynecologists monitor pregnant women visiting their facilities. Samples of suspected cases should be sent to the National Institute of Virology (NIV) Pune for testing,” she said.

On Thursday, 16 samples from suspected patients were sent to NIV for testing, including nine samples from pregnant women in the Mundhwa area and three from Kothrud. The results of 13 samples sent on Wednesday are still awaited.

“Fever patients should be closely monitored, and suspected cases tested for the virus. Zika-positive patients should be reported to us on priority,” said Dr. Baliwant.

PMC has received reports from a private laboratory of three patients testing positive for Zika virus. These include a 68-year-old male from Kothrud, a 65-year-old male from Saswad, and a 62-year-old woman from Prabhat Road.

Dr. Rajesh Dighe, PMC assistant health officer, stated that the focus is currently on pregnant women. “Zika-positive cases from private labs are considered suspected cases. Containment and surveillance activities have begun in these areas. The 65-year-old Saswad patient’s details have been sent to the district health office as it is outside PMC limits,” he said.

Officials noted that the Zika virus can be transmitted via mosquito bites, sexual contact, mother-to-fetus during pregnancy, blood transfusion, and organ donation. Zika virus infection during pregnancy can cause microcephaly and other congenital malformations, collectively referred to as congenital Zika syndrome, and can also cause Guillain-Barre Syndrome in the fetus.

Dr. Nagnath Yempalay, district civil surgeon, reported that a high alert has been issued for the entire district. “Orders have been given to officials at Aundh District Hospital, 24 rural hospitals, 5 sub-district hospitals, and one women’s hospital to monitor fever patients and pregnant women. Samples from suspected cases will be sent to NIV. Ten beds have been reserved for Zika patients at the district hospital,” he said.

Nag Ashwin Teases Key Details About Kalki 2898 AD

By
Dhruv
-
0

Director Nag Ashwin’s Kalki 2898 AD is enjoying a phenomenal run at the box office. For fans captivated by the film’s conclusion, there is exciting news! In an interview with Variety, Nag Ashwin discussed plans for the sequel, offering a glimpse into what’s next. Kalki 2898 AD stars Prabhas, Amitabh Bachchan, Deepika Padukone, Kamal Hassan, and Disha Patani.

Nag Ashwin revealed, “We shot about 25 or 30 days, but there’s a lot of action still left. It’s almost like a whole new production that’s going to start. Every loose end or thread that we left hanging has to be wrapped up. The most important thing will be the face-off between Yaskin, who can now wield the Gandiva, the most powerful weapon, and the fearsome warriors Karna and Ashwatthama.”

He also reflected on the world-building of Kalki 2898 AD: “Initially, we didn’t fully grasp what we were aiming to achieve. It was only as we delved into authentic design and complex action sequences that we realized the scale of this world. We started with the intention to do everything in India but ultimately used two or three foreign companies as well.”

Kalki 2898 AD blends sci-fi with mythological elements. Prabhas plays Bhairava, a bounty hunter from Kashi, while Deepika Padukone portrays a pregnant test subject named SUM-80. Amitabh Bachchan takes on the role of Ashwatthama from Indian mythology. On Wednesday, Vyjayanthi Movies announced that the film has grossed over ₹700 crore worldwide in all languages.

Congress Youth Protests in Lucknow Against Paper Issues

By
Dhruv
-
0

Uttar Pradesh Youth Congress (UPYC) workers sustained minor injuries on Thursday when police used force to stop them from marching to the Vidhan Sabha in protest of paper leaks. The activists were demanding the resignation of Union Education Minister Dharmendra Pradhan and a reconduct of NEET UG 24.

Protests took place outside the Congress Party office in Lucknow, where UPYC (east) chief Vishal Singh and several others were injured when police used mild force near the UPCC headquarters. The protesters were detained and taken to Eco Gardens, where they were later released.

A police official confirmed that about 150-200 Congress workers were detained, and some sustained minor injuries. Former Congress MLC Deepak Singh noted that senior Congress leader and Leader of Opposition in Lok Sabha Rahul Gandhi has been raising issues that concern the youth across the country.

UPYC (central zone) working president Ankit Tiwari criticized the BJP government for its record of paper leaks and reiterated the Congress demand for a re-NEET exam and the resignation of Union Education Minister Dharmendra Pradhan.

Ex-IAF Chief Slams Rahul Gandhi Over Agniveer Remarks

By
Dhruv
-
0

Former Indian Air Force (IAF) chief RKS Bhadauria criticized Congress leader Rahul Gandhi on Thursday, though he did not mention him by name, for questioning the Agniveer scheme and called for an apology. Bhadauria emphasized that the Army should not be involved in political matters.

His remarks followed Gandhi’s accusation that Defence Minister Rajnath Singh lied about providing compensation to the family of Agniveer Ajay Kumar, who died in service. Bhadauria pointed out that extensive discussions were held in Parliament about the Agniveer scheme, and claimed the controversy over the compensation was unwarranted, stating that nearly ₹98 crore had already been given to Ajay Kumar’s family, with an additional ₹67 lakh to be provided.

Calling Gandhi’s claim “absolutely wrong,” Bhadauria described the issue as emotional and reiterated that the Army should remain apolitical. He defended the Agniveer scheme as a well-considered initiative implemented after thorough discussions, ensuring that recruits are trained to the same standard as regular soldiers and will perform equally well in battle.

Bhadauria urged the youth to join the Army under the Agniveer scheme and not to be misled by negative claims. This came after Gandhi released a video on Wednesday featuring the father of an Agniveer who alleged that no compensation or assistance was provided by the Centre following his son’s death in a landmine explosion in Naushera, Jammu and Kashmir, in January.

Gandhi accused Defence Minister Rajnath Singh of lying in Parliament about the assistance given to the Agniveer’s family and demanded an apology. However, the Indian Army promptly refuted Gandhi’s claims, asserting that the family of Agniveer Ajay Kumar had already received ₹98.39 lakh, with additional benefits totaling ₹67 lakh to be paid after due process, amounting to approximately ₹1.65 crore in total.

Additionally, Gandhi, recently appointed as the Leader of Opposition in Lok Sabha, sparked controversy with his remarks against the Agnipath recruitment policy for the armed forces. Several parts of his speech, including criticisms of the BJP, were subsequently expunged from the parliamentary records.

UK and India to Work on Safe and Robust Cyberspace

By
Dhruv
-
0

NEW DELHI: India and the UK have agreed to enhance cooperation between their cyber agencies to create a “safe and robust cyberspace,” the Ministry of External Affairs announced on Thursday.

The sixth cyber dialogue between the two nations took place in New Delhi on Wednesday, focusing on cyber threat assessment, internet governance, data protection, and the protection of critical infrastructure.

Discussions also included capacity building and cooperation in multilateral forums, covering the latest cyber developments at the United Nations, according to the ministry.

“Both sides agreed to deepen cooperation between their respective cyber agencies to build a safe and robust cyberspace,” the statement added.

The dialogue was co-chaired by Amit Shukla, Joint Secretary in the Cyber Diplomacy Division of the Ministry of External Affairs, and Kat Jones, Head of Strategy in the Cyber Policy Department of the UK’s Foreign, Commonwealth and Development Office (FCDO).

The Indian delegation comprised officials from the Ministries of External Affairs, Home, Electronics and Information Technology, the Indian Cybercrime Coordination Center (I4C), the Defence Research and Development Organisation (DRDO), CERT-In, and the National Critical Information Infrastructure Protection Centre (NCIIPC).

The UK delegation included officials from the National Cyber Security Centre, the Cyber Policy Department of the FCDO, and representatives from the cyber policy team of the UK High Commission.

Delta Flight Makes Emergency Stop After Contaminated Food Served to Flyers

By
Dhruv
-
0

A Delta Airlines flight with 277 passengers en route to the Netherlands had to make an emergency landing in New York City due to contaminated in-flight meals. Delta Flight 136, departing from Detroit Metropolitan Wayne County Airport, was heading to Amsterdam but was forced to divert to John F. Kennedy International Airport around 4 AM on Wednesday.

The Airbus A330 was over Saint Pierre and Miquelon, a French archipelago south of Canada’s Newfoundland, when it was redirected to New York, as indicated by FlightRadar24 data. A Delta spokesperson confirmed in a press release that the aircraft turned around after “reports that a portion of the Main Cabin in-flight meal service was spoiled.”

“Medical crews met the aircraft to treat any affected passengers and crew members. Delta’s Food Safety team has engaged our suppliers to immediately isolate the product and launch a thorough investigation into the incident,” the spokesperson stated, emphasizing that the service does not reflect what the airline is “known for.” “We sincerely apologize to our customers for the inconvenience and delay in their travels.”

The Port Authority of New York told Newsweek that there were “24 aided cases upon landing,” including “10 members of the flight crew and 14 passengers.” However, all declined medical attention. The airport authority added that the passengers were “provided with hotel rooms and transportation and will be rebooked to continue to their destination.”

Meanwhile, a passenger named Virginia, who goes by @tralala_bk on X (formerly Twitter), wrote on the platform, “@delta I need to know how you’re going to get me to Amsterdam today – I’m on the plane that’s emergency landing at JFK because you served passengers ‘contaminated’ food – I don’t need hotel/food vouchers I need to arrive in Amsterdam today.”

1...239240241...345Page 240 of 345