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hyundai india profit up 6% in 2017 to rs 22 bn, growth similar to maruti's
korean carmaker hyundai, the second biggest player in the indian car market, expanded its profit by 6 per cent in the 2017 calendar year (cy) to rs 22 billion. the profit increase is identical to market leader, maruti suzuki, which saw a 5 per cent increase in profit for the year ended march 31, 2018. hyundai's sales revenue also grew by 6 per cent in 2017.hyundai motor india (hmi), a subsidiary of hyundai, is not listed in india and its annual financial results are declared to the registrar of companies with a time lag. information available with the parent company shows hmi's net profit increased almost 6 per cent to 349,862 million korean won in cy17 from 330,280 million won in cy16. in rupee terms, the 2017 profit translates to almost rs 22 billion. the carmaker's sales revenue in india increased 6 per cent to 6,346,672 million won last calendar year. the cy17 revenue translates to rs 398 billion. hmi sold record 678,221 vehicles in the year ended december 31, 2017, growing 2.44 per cent over the previous calendar year. of this, domestic sales were 527,320 units with a growth of 5.4 per cent y-o-y. exports, however, at the country's second biggest car exporting company, had declined 6.57 per cent to 150,901 vehicles. american carmaker ford recently replaced hyundai as the biggest exporter of cars from india. at a consolidated level, hyundai globally posted a decline of over 20 per cent in profit during cy17 to 4,546 billion won (korean cu...
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not everyone is staying cool, as things hot up
the grid operator that delivers power to most of texas set an all-time peak electricity demand record last week for the month of may. hot weather, a healthy economy and a growing population have all given electric reliability council of texas inc. reason to expect record-breaking summer usage. the main driver of warm-weather peaks is air conditioning. joshua rhodes of the university of texas told me that half of all summer peak demand in ercot’s territory is from air conditioning, with two-thirds of residential electricity demand coming from ac. all told, home air conditioning makes up a little less than one-third of all electricity demand in the biggest state electricity grid in the country. providing the power to meet that need is one of the main generators of all new electrical infrastructure in texas, rhodes says. but a new report from the international energy agency (iea) makes texas’ demand look positively tiny as a growing, urbanising world demands to cool itself. the iea’s data shows not only how many air conditioning units there are in service today (nearly 1.1 billion worldwide) but also how uneven the distribution of cooling is. japan has 90 residential air conditioning units for every 100 people; india has 1 per 100. south korea has twice the number of residential air conditioners as brazil, which has more than four times as many people. and the u.s. has more than a thousand times as much cooling output per person as india does. urbanization is a...
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naveen patnaik is taking no chances for the 2019 odisha election
the biju janata dal government in odisha completed four years of chief minister naveen patnaik’s fourth term on monday. to mark the occasion patnaik plans to hold a series of meeting with his party men to chalk out a strategy for 2019. what is threatening to spoil his party is the upcoming visit of prime minister narendra modi to the state on may 26. union petroleum and natural gas minister dharmendra pradhan has already gone on record saying, “we will bring out documents on 36 massive corruption cases of the naveen patnaik government in its 18 years of rule. we will also apprise the people of the 48 achievements of the bharatiya janata party-led government at the centre in its four years of rule.” here is another battle to watch.outreach scorecardafter the bharatiya janata party failed to form a government in karnataka, the ministry of information and broadcasting, it is learnt, has asked its media units to give details of initiatives undertaken by them targeting local media. the ministry wants to know if and how the centre’s policies and initiatives were publicised in the regional media in the run-up to the assembly elections in karnataka. in the last few months, the ministry of information and broadcasting has worked hard to strengthen its outreach programme by deploying officers in key regions.antaraatma must speak bihar’s leader of opposition tejashwi prasad yadav has once again called for state chief minister nitish kumar’s antaraatma (inner vo...
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partners group, kedaara capital fund to buy vishal mega mart from tpg
private equity firms partners group and kedaara capital fund will acquire value retail chain vishal mega mart (vmm) from pe firm tpg. the deal size was not disclosed but as per market sources it is expected to be around rs 5,000 crore. vmm has over 229 stores in 110 cities and towns across the country, according to the company's website. the gurgaon-based firm is the franchisor of the vishal mega mart brand and wholesale supplier to over 230 hypermarket stores across india, which are operated by a network of franchisees.partners group private equity asia managing director manas tandon said: `we believe the company offers a unique value proposition to an underserved customer segment and will continue to have strong tailwinds for a long time.`vmm md and ceo gunender kapur said: `we believe we have found the ideal partners for this ambitious next phase (of growth) in partners group and kedaara capital and expect to benefit from their combined track records of working with fast-growing consumer businesses.`partners group said the value creation initiatives will focus on further expanding vmm's presence, adding to its product assortment and maximizing supply chain efficiency. the transaction is subject to regulatory approval and is expected to close later this year, partners group said. switzerland headquartered partners group is a global private markets investment management firm with over 62 billion euro (usd 74 billion) in investment programmes un...
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letter to bs: congress-jd(s) alliance is questionable on many grounds
with reference to “after the circus” (may 21), i think not only the bharatiya janata party but the congress and janata dal (secular) should also be severely criticised for their approach to form the government in karnataka by taking advantage of poll results which threw up a hung assembly. the alliance between the two parties is questionable on many grounds. one, now the state will be ruled by two parties which fought against each other fiercely. two, since the single largest party isn’t one of them, the state will be run by those who the voters least liked. three, the coalition is led by a party which won just about 20 per cent seats. four, the meaning of inducement has turned flexible. if offering cash or ministerial position to attract other mlas is bribery, isn’t offering chief ministership to the smallest party a bigger bribe? it is, therefore, time the supreme court formulated guidelines applicable to hung assemblies and also decided whether post-poll alliances are valid ab initio or with constraints. this will also help clip the wings of governors. i suggest the first opportunity should be given to the single largest party even if it falls short of a majority, provided the gap is marginal and the party is seen as capable of forming a government with the help of independents. if this isn’t possible, pre-poll coalitions should get the chance if they can stitch together a majority. in the absence of either, president’s rule should be imposed for s...
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letter to bs: karnataka govt formation put brakes on bjp's expansion plans
the bharatiya janata party’s (bjp) poorly strategised stab at grabbing power in karnataka blew up in its face. the supreme court’s order to conduct the floor test in a day’s time and telecast the proceedings live enabled the congress-janata dal (secular) combine to make short work of the bjp and pre-empted the subversion of democracy. the saffron party is labouring under the delusion that its espousal of hindu nationalism gives it the right to rule india. fortuitously, the head-on clash between the bjp and the congress-jd(s) over government formation gave a fillip to opposition unity. the formation of a secular government in karnataka put the brakes on the bjp’s plans to expand its reach in south india and make up for losses in states where it reached saturation point. collaboration between the congress and other secular parties will hasten the end of the bjp’s predominance. opposition parties appear to be willing to make concessions to achieve the ouster of the bjp and the installation of a secular government. the juxtaposition of nearly all the top opposition leaders turning up at the swearing-in of h d kumaraswamy and the absence of pm narendra modi and bjp president amit shah at the oath-taking ceremony of b s yeddyurappa will be inescapable. as in karnataka, the prospect of the bjp sitting in the opposition benches, even if it registers the sort of “victory” in the state and emerges as the single largest party, in 2019 now seems a distinct possibil...
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govt to divest 12.72% in rites next month; plans to mop up rs 4-4.5 billion
the government is planning to divest at least a 12.72 per cent stake in railway subsidiary rites in a month's time. according to sources close to the development, the plan is to raise rs 4-4.5 billion through the listing of rites. `the price band is likely to be decided in a week’s time by the department of investment and public asset management (dipam). out of 12.72 per cent stake to be sold, 0.72 per cent will be available for employees,` said an official. however, the proposed listing of another railway arm indian railway finance corporation (irfc) is ...
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letter to bs: govt should first simplify and reform the taxation of fuels
with rising fuel prices, one wonders when alternative sources of energy can be made available to the common man. fuel prices are high because of high taxation on petrol, diesel and other fuels in india. the government should first simplify and reform the taxation of fuels and then invest in developing alternative sources of energy as soon as possible. this is because high fuel prices affect every aspect of the indian economy and thus the gdp. the most notable impact of high fuel prices is rising unemployment. india has to import more than 80 per cent of its fuels. therefore, it stands to reason that a cheap alternative source of energy be made available to the common man to offset our dependence on fossil fuels and on other countries. solar energy provides such an alternative. advances in miniaturisation technology has made solar energy an answer to india’s energy woes. also, many indian entrepreneurs see solar energy as a viable business. therefore, it is time that the government stepped up to the plate and allocated funds to explore the viability of solar energy as an alternative to fossil fuels. this has become all the more important because wind energy, which was considered more viable than solar energy at one time, has been proven to be impractical. furthermore, nuclear energy is bogged down by international regulations and by environmental concerns at home. thus, solar energy is india’s best bet.shaikh salimuddin gurugramletters can be mailed, faxed or e-ma...
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nipah virus outbreak in kerala: symptoms to precaution, all you must know
the state has been put on high alert and two control rooms have also been opened in kozhikode in the wake of nipah virus outbreak
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pnb banking on non-core asset sale, capital infusion from govt for revival
hit by the nirav modi fraud, punjab national bank (pnb) expects the union government to come to its rescue by infusing a higher share of capital in the bank in the second round of recapitalisation lined up for the present financial year. besides, the bank has lined up sale of non-core assets worth around rs 80 billion this financial year, in a bid to avert the reserve bank of india’s (rbi’s) prompt corrective action (pca). “though we haven’t approached the finance ministry officially yet, some support from the government in the form of capital infusion will be a positive for us,” said a senior pnb executive. under the first tranche of recapitalisation, the union government infused rs 800 billion through bonds in public sector banks last financial year. among the comparatively healthier banks or those which are not under the pca framework, pnb received the second-highest capital infusion of rs 54.7 billion, after state bank of india (rs 88 billion). “however, the government’s capital infusion and our own fundraising through qualified institutional placement (qip) has gone down the drain because of the fraud case and non-performing assets (npa) provisioning,” the pnb official said. pnb had raised rs 50 billion through a qip in fy18. experts said the bank has two options — either raise capital or to recover bad loans — with the latter being a long-drawn process. “pnb will need to definitely raise capital. they still need to mak...
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finmin presses agri ministry for reworking msp procurement models
the centre had indicated funds wouldn’t be a constraint when it came to fulfilling the key announcement of developing a fool-proof procurement model for crops whose prices have fallen below the minimum support price (msp). but, the finance ministry is learnt to have told the agriculture ministry that it won’t be possible to bear any annual expenditure which is more than rs 200-250 billion in the long run. at a meeting held three weeks ago, senior policymakers in the north block told agriculture ministry officials that they needed to rework the proposal with regard to funding and methods of procurement. “the projections the agriculture ministry have made are, in our view, overestimated. there were gaps in the proposal, on funding, methods of procurement, the system of procurement, which options are workable or not. these were pointed out to them. we are awaiting a workable proposal from them,” said a senior official. “they had given a number which they themselves said was at the outer limit of their estimates,” the person quoted above said, adding the amount sought was higher than rs 250 million. another official said the niti aayog has also been directed to re-work some of the models of procurement suggested by them and also carefully evaluate all the proposals for their financial implications, as launching any programme which could have a huge financial burden might be difficult to handle. “it’s a commitment of the government so we a...
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petrol prices likely to hit rs 90 per litre in mumbai and rs 85 in delhi
retail prices of petrol and diesel might shoot up sharply if india’s oil import bill, assuming that the dollar value stays unchanged, increases by $50 billion in 2018-19 and the union excise duties and the value-added tax are not reduced to cushion the blow, according to a business standard analysis. the retail price of petrol in delhi may reach rs 85 a litre and that in mumbai may cross rs 90 per litre. if the rupee is weaker, retail prices will go higher than this. in this situation, the government has virtually no option but to reduce excise duties. economic affairs ...
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the fortis saga: all you wanted to know about the twists and turns
tomorrow, may 22, will see an extraordinary general meeting called by minority shareholders of fortis healthcare to seek the ouster of one board member, since three others -- harpal singh, father-in-law of malvinder mohan singh, sabina vaisoha and lt gen tejinder singh shergill -- have already resigned. only brian tempest, a former ranbaxy hand and known company loyalist, remains. it is difficult to disassociate the crumbling fortunes of the singh brothers from the hospital business they set up in 2002, though they are no longer part of the management and board and have less than ...
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modi meets putin, says india-russia in 'special privileged strategic pact'
modi and putin will hold an informal meeting today in russia's sochi where the two leaders will discuss pressing global issues and indo-russia defence ties. catch all the live updates here
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ipl 2018 playoffs: table toppers csk, srh face off for final berth tomorrow
in qualifier 1 of vivo indian premier league (ipl 2018) m s dhoni’s chennai super kings (csk) will take on kane williamson-led sunrisers hyderabad (srh) at mumbai’s wankhede stadium on tuesday. the match is expected to an intriguing, no-holds-barred battle between the two former ipl champions, especially as the performance of both csk and srh has been neck-and-neck this season. while hyderabad are table-toppers with 18 points from 14 matches and a net run rate (nrr) of +0.280, chennai are place second on vivo points table 2018 with an equal number of points but slightly lower nrr of + 0.253. the raucous mumbai fans could expect a rip-roaring contest on tuesday. the winner of this clash of the champions will get a direct qualification to the ipl 2018 final, to be played in mumbai on may 27. the loser will play qualifier 2 against the winner of the eliminator match to be played on wednesday (may 23) between kolkata knight riders and rajasthan royals, ranked third and fourth, respectively, after the round-robin stage. qualifier 2 will be played on friday (may 25). all playoff matches will begin at 7 pm, unlike the 8 pm schedule for round-robin matches.who has an edge in the csk vs srh qualifier?chennai super kings seem to hold a slight edge going into qualifier 1; not only have they got the better of their southern rivals twice in the league stage of ipl 2018 but they also have a winning momentum going into the match being played on what promises to be a bouncy track. whi...
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remembering rajiv gandhi apolitically on his 27th death anniversary
rajiv’s sudden entry into politics 1 / 6 rajiv gandhi, indira gandhi, sanjay gandhi | photo: wikimedia commons before rajiv gandhi joined politics,he was a pilot by profession and worked for indian airlines for around 10-12 years.the death of his younger brother sanjay gandhi in 1980 forced him to join politics. in the subsequent year, rajiv fought elections from amethi and became a member of lok sabha. an accidental pm 2 / 6 photo: wikimedia commons his mother, indira gandhi, was assassinated on october, 31 1984. rajiv then took the oath to become the country’s prime minister the very same night. veteran journalist vir sanghvi, in one of his articles in hindustan times, said, “post mrs. gandhi’s assassination, many global think tanks questioned whether india would survive as a nation. it was his five years in office, from 1984-1989, that showed the world that india was here to stay.   rajiv, a passionate photographer 3 / 6 sonia gandhi, rajiv gandhi | photo: pti sonia in her book, rajiv’s world, wrote that photography to rajiv gandhi was a source of immense pleasure and satisfaction. photography to rajiv was an extension to himself. he was not too open about his interest in it in public, though. a request by one of rajiv’s publisher friend asking him to author a book based on his photographs was turned down. when priyanka met her father’s killer 4 / 6 nalini sriharan | photo: pti on march 17, 200...
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karnataka: kumaraswamy reaches delhi, to meet sonia, rahul; 10 developments
ahead of his swearing-in as the karnataka chief minister, jd(s) leader h d kumaraswamy arrived in the national capital on monday and is likely to meet congress leaders sonia gandhi and rahul gandhi to discuss the power-sharing arrangement. he is scheduled to first meet bsp chief mayawati and later hold parleys with the congress leaders. the jd(s) fought the may 12 assembly election in alliance with the bahujan samaj party (bsp), and joined hands with the congress after the verdict throws up a hung assembly on may 15. during his meeting with congress leaders, kumaraswamy is likely to finalise the number of ministerial berths a party would get and who would become the deputy chief minister. the jd(s) leader has already indicated that there won't be a rotational arrangement with congress for the post of the chief minister. according to sources, there is a proposal to have two deputy chief ministers to strike a balance between the two parties. congress's g parameshwara is the frontrunner for the deputy chief minister's post.kumaraswamy is scheduled to take oath as chief minister on may 23 and the floor test is expected to happen within 24 hours. both congress and jd(s) mlas will remain confined to their hotels till the floor test. a small group of mlas will be sworn in as ministers along with kumaraswamy on wednesday, the sources said. many regional party leaders, including delhi chief minister arvind kejriwal, are likely to attend the swearing-in ceremony. meanwhile, congress...
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cheaper imports to deliver future shocks to merchant miners
india came into the reckoning for steelmaking by some of the world’s major groups more than a decade ago. nothing came of that, though. as much as the certainty that steel demand in india would grow at a fair clip for years to come, the country’s ownership of 31.32 billion tonnes (bt) of iron ore, much of it of good quality, drew the korean steelmaking major posco to sign a memorandum of understanding (mou) with the odisha government in june 2005 for building a 12 million tonne (mt) steel mill in paradip. the next year arcelormittal announced its plan to create a plant of ...
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deadly nipah virus kills 6 in kerala: spot the symptoms, protect yourself
kerala’s kozhikode district has been affected by the deadly nipah virus that has claimed six lives, according to kozhikode district collector, while eight others have been kept under strict observation. the world health organization has reportedly said that there is no vaccine available to fight the virus, however, the central government assured full support to the kerala government. `we are closely monitoring the situation. i have also dispatched a central team to assist the state government and initiate required steps,` union minister of health and family welfare j p nadda said in a statement from geneva. in a tweet late on sunday, nadda said, `reviewed the situation of deaths related to nipah virus in kerala with secretary health. i have directed director ncdc to visit the district and initiate required steps as warranted by the protocol for the disease in consultation with state government.` in view of the rising number of cases and reported deaths due to nipah virus outbreak, kerala health minister k k shailaja on monday said things are under control and there is no need to panic. `at the moment, eight patients are currently in treatment. their samples have been sent to pune and results are awaited,` said shailaja. a high-level team from the national centre for disease control (ncdc) has already arrived in kozhikode district to take stock of the situation. a district-level special task force, headed by kozhikode district collector, u v jose ...
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rajiv gandhi death anniversary: probe incomplete 27 yrs after assassination
as the nation on monday paid tributes to rajiv gandhi on his death anniversary, the investigation in the assassination of the former prime minister is still on, 27 years after his ghastly killing. the status of ongoing investigation by the cbi-led multi disciplinary monitoring agency (mdma), probing the larger conspiracy aspect behind the assassination, was shared with the supreme court, which had in march asked the centre to place before it the steps that were required to be taken to bring it to an end as `expeditiously as possible`. the mdma had informed a bench headed by justice ranjan gogoi that the probe into the case was `still open` and letters rogatory have been issued to different countries, including sri lanka, where some persons required to be investigated were currently residing.rajiv gandhi was assassinated on the night of may 21, 1991, at sriperumbudur in tamil nadu by a woman suicide bomber, identified as dhanu, at an election rally. fourteen others, including dhanu herself, were also killed in the explosion. rajiv gandhi's assassination was perhaps the first case of suicide bombing globally, which had claimed the life of a high-profile leader. former prime minister manmohan singh paying homage to rajiv gandhi at his memorial-veer bhumi(photo: pti) the mdma, set up in 1998 on the recommendations of justice m c jain commission of inquiry, which had probed the conspiracy aspect of rajiv gandhi's assassination, is headed by a cb...
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pnb scam: ex-md & ceo was aware of fraud but kept misleading rbi, says cbi
former md and ceo of the punjab national bank usha ananthasubramanian and some other senior bank officials were aware of the `fraudulent` dealings with diamond merchant nirav modi but kept `misleading` the rbi, the cbi has alleged in its charge sheet. a special cbi court here took cognizance of the charge sheet today and permitted the investigating agency to issue fresh non-bailable warrants against nirav modi, his brother nishal and an executive of the nirav modi group subhash parab. in its charge sheet into the nearly 13,000 crore scam, the cbi said the rbi had since october 2016 sent several questionnaires to the pnb, seeking to know what procedures or measures the bank follows before issuing letters of understandings and letters of credit. `this was duly dealt by accused ananthasubramanian and the bank's executive directors - k v brahmaji rao, sanjiv sharan and nehal ahad and instead of replying to the queries in true spirit and facts, ahad and the general manager of the international banking division of the bank's headquarters prepared a misleading reply and sent it to the rbi after getting the same approved from sharan,` the cbi said. the 12,000-page charge sheet further claimed that a similar fraud was detected in 2016 following which the rbi took up the issue and issued circulars to all banks. `the accused pnb officials, including ananthasubramanian and others, were aware of this fraud involving pnb dubai and the indian overseas bank ...
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nifty small cap index enters bear territory, sheds 20% from mid-jan peak
the nifty smallcap 100 index, a measure of the performance of companies with market capitalisation of $1 billion, has slipped into bear market territory. the index is down 20 per cent from its peak touched in mid-january. the nifty smallcap 100 index has slipped more than nine per cent in may and is on course to post its worst monthly drop in over 18 months. the performance of the nifty midcap 100 index, which consists of companies with market cap between $1.5 billion and $4 billion, is equally bad. the index is down 15 per cent from its peak in january and is down 8.5 per cent this month. the performance of the benchmark nifty is hiding the carnage in the small- and mid-cap space. the 50-share index is down just two per cent this month and has come off just five per cent from its peak. the broader market sell-off is so severe that a 185 out of the 1,759 companies that are traded on the national stock exchange (nse) have lost more than half of their value this year. nearly 60 per cent of the nse listed stocks have lost a third of their value. `due to worsening macro situation, investors are moving into safer zone,` says ravi muthukrishnan, head-institutional equity research, elara securities. shuffling of stocks by equity mutual funds to comply with the new categorization norms has partially led to the fall. but experts say the real issue that has spooked investors is the micro headwinds such as weakening of the rupee, surging bond yields and rising fue...
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markets drop for fifth straight session on rising crude oil prices
the indian markets declined for the fifth straight session as the setback for the ruling bharatiya janata party (bjp) in karnataka along with rising crude oil prices in the global markets weighed down investor sentiment. the benchmark sensex lost 232 points, or 0.67 per cent to close at 34,616, while the nifty was down 79.7 points, or 0.75 per cent to close at 10,516. the sensex has declined 2.6 per cent in the last five sessions. analysts expect the indian markets to remain volatile in the near- to medium-term on account of multiple headwinds. the karnataka election outcome has sparked fears that the central government could take a step back from the reform agenda and instead opt for more populist measures ahead of the general elections in 2019. spiralling oil prices is another key concern for the indian markets since it could have a destabilising effect on the country’s fiscal deficit and economy. the price of oil has surged 46 per cent in the past one year and is currently trading at $77.6 a barrel. “the markets will remain volatile in the coming months due to global factors such as rising crude prices. while our fiscal deficit looks well under control for now, it could be hit if the crude prices continue to remain high. rising us bond yields and heightened political activity are other key headwinds for the indian markets right now,” said b gopkumar, chief executive officer, reliance securities. pharmaceutical stocks were the biggest losers ...
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congress-jd(s) will give stable govt in karnataka, says hd kumaraswamy
congress-jd(s) formed 'unholy alliance' against people's mandate, says amit shahagencies  last updated at may 21, 2018 20:20 isthttp://mybs.in/2vmvuiz jd(s) leader h d kumaraswamy karnataka government formation: the congress-janata dal (secular) combine will give a stable government in karnataka and the modalities of its formation will be worked out after meeting upa chairperson sonia gandhi and congress president rahul gandhi, jd(s) leader h d kumaraswamy said on monday. kumaraswamy, who will take over as chief minister of karnataka on may 23, is in the national capital to meet the congress leadership and work out modalities of government formation in karnataka. he earlier met bahujan samaj party (bsp) chief mayawati here and discussed plans of putting in place a congress-jd(s) government.also read: karnataka: kumaraswamy reaches delhi, to meet sonia, rahul; 10 developments the jd(s) contested the karnataka election in a pre-poll alliance and later had a post-poll tie-up with the congress. `we are going to give a stable government. all these issues are not yet discussed. we have not discussed any future course of action”. `the modalities of formation of the new government will be discussed after meeting congress leaders sonia gandhi and rahul gandhi,` he told reporters.congress-jd(s) formed 'unholy alliance' against people's mandate: amit shah terming the alliance of the congress and the janata dal (secular) (jd-s) as `'unholy`, bharatiya janata party (bjp...
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rajiv gandhi death anniversary: sonia, rahul, others pay tribute to ex-pm
upa chairperson sonia gandhi, congress president rahul gandhi and others on monday paid homage to former prime minster rajiv gandhi on his 27th death anniversary. priyanka gandhi along with her husband robert vadra also paid tributes to the former pm at his memorial-veer bhumi here. former prime minister manmohan singh paying homage to rajiv gandhi at his memorial-veer bhumi(photo: pti) they were joined by congress leaders sheila dixit, ashok gehlot, sushil kumar shinde, mallikarjun kharge, former prime minister manmohan singh and former president pranab mukherjee. rahul took to twitter thanking his father (rajiv gandhi) for teaching him how to love and respect every one.west bengal chief minister and trinamool congress chief mamata banerjee also remembered rajiv gandhi and conveyed a message through twitter. `solemnly and very fondly remembering former prime minister rajiv gandhi on his death anniversary,` she said. congress leaders digvijay singh, pl punia, randeep singh surjewala, sanjay nirupam and bhupinder singh hooda were among those who paid tributes to rajiv gandhi through social media. all ministers, legislators, and delegates of different wings of the ruling congress were among those who paid homage to the late leader, who was assassinated this day in 1991 by a suicide bomber in neighbouring tamil nadu. puducherry chief minister v narayanasamy led the union territory in paying rich tributes homage to rajiv gandhi. on the occasion, narayanasamy recalled the except...
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how to turn your mom's savings into $1 bn using amazon? ask this ex-googler
after steven yang left his coveted job at google, he asked his mother whether he should take venture-capital money to fund his business idea. if his online consumer-electronics enterprise was a risky bet, she told him, go with the venture capitalists. but if building the business into something great was his destiny, he instead should use her money from a pharmaceutical career in china. so yang combined his google money with his mom’s, and with less than $1 million in seed capital he moved from california to shenzhen, a hub in southern china for technology companies. seven years later, anker innovations technology co. sells products ranging from smartphone chargers to portable power banks on amazon.com. and it’s getting even bigger after recently reaching a deal to put products in almost 4,000 walmart inc. and 900 best buy co. stores in the u.s. recent trades on china’s over-the-counter new third board market valued anker at about $1.1 billion. yang, 36, and his wife have a combined stake of about 54 percent, according to a bloomberg analysis of the company’s first-quarter report for 2018. anker offers chargers that are alternatives to those from companies like samsung electronics co. or apple inc. and come with proprietary poweriq technology, which detects each phone’s maximum wattage to help minimize charging times. yang also has branched out into just about every other smartphone-related gadget, including cables, headphones and wireless charging pads....
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india successfully test-fires brahmos supersonic cruise missile
india on tuesday successfully test-fired the brahmos supersonic cruise missile from chandipur-on-sea off odisha coast. the missile, which is capable of carrying a conventional warhead of 300 kg, was test-fired from a mobile launcher from launch complex number three of the integrated test range (itr). the missile is developed by the indo-russian joint venture brahmos aerospace and has a top speed of mach 2.8. brahmos, one of the fastest cruise missiles in the world and can be launched from ships, aircrafts and submarines.
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pakistan violates ceasefire in j&k hours after pm's visit; top updates
the pakistani army initiated unprovoked firing of mortar shells along the international border on monday morning, in a fresh case of ceasefire violation at the border. at around 7 am in the morning, mortar shells were fired at border security force (bsf) outposts in jammu and kashmir's arnia sector. the firing was retaliated to effectively by the bsf though no damage or casualty has been reported. a few hours ago, late on sunday night, pakistani rangers resorted to cross-border firing in jammu and samba districts, hours after the pakistani troops ''pleaded` with the bsf to stop the firing of heavy artillery during the day, which resulted in the death of one pakistani trooper, said a bsf official. these ceasefire violations have come after a day-long visit by prime minister narendra modi to jammu and kashmir.here are the top updates on the ceasefire violations in jammu and kashmir:1) fresh ceasefire violation along ib in jammu: pakistani rangers violated the ceasefire along the international border on monday morning firing mortar shells at bsf outposts at several places in jammu and kashmir's arnia sector, which was retaliated to by the bsf effectively. the mortar firing from across the border started around 7 am and was still continuing when last reports were received, a senior bsf official told news agencies.2) pakistan violates ceasefire in jammu, samba: at around 10 pm on sunday, the pakistani army violated the ceasefire on the international ...
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two consecutive years of better monsoon, msp hike lift rural demand
two consecutive years of better monsoon have played a key role in reviving demand for consumer goods in rural india. better yield, backed by a hike in minimum support price for crops like wheat and pulses, has helped sales growth in the recent quarter, several executives from the consumer goods industry told business standard. according to data from market research firm nielsen, the rural market's volume growth outpaced urban’s by a wide margin during 2017-18 – the highest in past five years. during the year, volume growth in rural market clocked 9.7 per cent compared to 8.6 per cent in urban areas. value growth remained at 15.1 per cent in rural market also higher than 12.6 per cent in urban. according to suresh narayanan, chairman and managing director, nestle india, traction in the smaller towns (mostly in rural areas) is visible, of late. sunil d’souza, managing director, whilrpool of india, observed that growth in the rural market has been better than that in urban areas. he says the urban market too has delivered growth, but it was below their expectations. executives in the consumer goods industry say that uncertainty over the macro-economic situation and in the job market has dented consumer confidence in urban areas, while rural households have started spending more. two consecutive years of better monsoon – in 2016-17 and 2017-18 – led to better crop yields. also, talks of a massive hike in msp rates have lifted consumer confidence i...
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deadpool 2 mints rs 300 mn in opening week, fares better than predecessor
ryan reynolds-starrer `deadpool 2` has registered a business of rs 334 million net in its opening weekend in india. the film collected rs. 115 million on sunday, according to a statement issued on behalf of the makers. `'deadpool 2' has crossed the lifetime collection of 'deadpool' (rs 300 million) over the weekend itself. it should eventually do more than double the previous instalment. the overall dubbed contribution is 49 per cent with hindi contributing to 41 per cent of weekend collections,` the statement added. based on marvel comics' most unconventional anti-hero, `deadpool` is the original story of a former special forces operative who turns into a mercenary and is now out to seek revenge against the man who nearly destroyed his life. brought to india by fox star india, the film released on friday in english, hindi, tamil and telugu. the sequel also features josh brolin, morena baccarin, karan soni, zazie beetz, brianna hildebrand, stefan kapicic and leslie uggam.bollywood actor ranveer singh has lent his voice to the role of deadpool for the hindi version.
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