Friday, November 30, 2018

Virunga National Park says ranger killed in militia attack

  November 30, 2018      No comments   Edit

DAKAR, Senegal (AP) - A wildlife park in eastern Congo that is home to critically endangered mountain gorillas says a park ranger has been killed after an attack by armed militia at a ranger post on Lake Edward.

Virunga National Park said the situation has been stabilized and an investigation ...

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This District Was Solid Red. Why Did It Flip?

  November 30, 2018   ,   No comments   Edit
https://ift.tt/2w6Dxdc City’s population is becoming younger and more diverse, a fact that helped propel a Democrat, Kendra Horn, to victory in a traditionally Republican House district. But the city’s changing demographics are only one part of the story.

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Senator Tim Scott Sinks Thomas Farr’s Judicial Nomination Amid Racial Controversy

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https://ift.tt/2gKvzPo was the second time that Mr. Scott, the lone black Republican senator, had brought down a White House judicial nominee who was seen as insensitive or hostile to African-Americans.

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Yemen Dispatch: In Yemen, Lavish Meals for Few, Starvation for Many and a Dilemma for Reporters

  November 30, 2018   ,   No comments   Edit
https://ift.tt/1AlqXNK embattled Yemen, the contrasts are stark as desperate beggars congregate outside markets filled with goods for anyone who can afford them. Should a journalist put down his notebook and help?

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The Carpetbagger: Why Oscar Season Is Crazy, Frustrating and Still Essential

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https://ift.tt/x4NcYT new Carpetbagger columnist won’t ponder whether the Oscars matter. He knows they do — because as a snapshot of Hollywood, they also reflect so much more.

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Federal Employees Are Warned Not to Discuss Trump ‘Resistance’ at Work

  November 30, 2018   ,   No comments   Edit
https://ift.tt/zeynTX independent agency has said talk of impeachment or “resistance” could be forbidden by a law that bars federal employees from taking part in partisan political campaigns at work.

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Syria state TV says air defenses repelled missile attack

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Syria state TV says air defenses repelled missile attackDAMASCUS, Syria (AP) — Syria's air defenses confronted an aerial "aggression" over the country's south late Thursday, shooting down several targets and preventing them from carrying out their mission in the first such attack since Syria received a Russian air defense system last month, state TV said.




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Town threatens to shut down man's Christmas lights

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Town threatens to shut down man's Christmas lightsThe town is charging Thomas Apruzzi $2,000 a night for his display, saying the display he's put up for 15 years causes traffic and safety concerns. ABC News' Janai Norman reports.




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New Zealand intelligence bans China's Huawei from 5G rollout

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New Zealand intelligence bans China's Huawei from 5G rolloutNew Zealand's largest telecoms carrier Spark said Wednesday that the country's intelligence agency had barred it from using equipment provided by China's Huawei in its 5G network as it posed "significant national security risks". The move follows reports the United States is urging its allies to exclude the Chinese telecoms giant from 5G rollouts over cybersecurity fears. Spark said in a statement that it was legally obliged to inform the Government Communications Security Bureau (GCSB) about its 5G plans.




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'Unruly' young boy upstages Pope Francis

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'Unruly' young boy upstages Pope FrancisA young boy upstaged Pope Francis on Wednesday, escaping from his mother and running onto the papal podium at a general audience, tugging on the hand of a Swiss guardsman and playing behind the pontiff's chair. Pope Francis told her to let him carry on playing. As she left the stage, a smiling Francis leaned towards Bishop Georg Ganswein sitting next to him and whispered: "He is Argentinian.




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Thursday, November 29, 2018

Ukraine says counterintelligence officer wounded in Sunday's Russia clash

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Ukraine says counterintelligence officer wounded in Sunday's Russia clashA Ukrainian military counterintelligence officer was seriously wounded after Russian aircraft fired missiles at Ukrainian vessels on Sunday, the head of Ukraine's state security service (SBU) said. Ukraine and Russia have traded accusations after Russia fired on three Ukrainian ships then seized them. The confrontation prompted Ukraine to introduce martial law in some areas, citing the threat of a Russian land invasion.




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Republican Hyde-Smith holds seat in Mississippi Senate race

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Republican Hyde-Smith holds seat in Mississippi Senate raceJACKSON, Miss .— In the last major race of the midterm campaign, Republican Cindy Hyde-Smith claimed victory in Mississippi’s closely watched Senate runoff election, defeating Democrat Mike Espy after a tense campaign rocked by unsettling reminders of the state’s dark legacy of racism. Hyde-Smith, a former state senator and state Agriculture secretary, was appointed by Gov. Phil Bryant last spring to fill the seat vacated by ailing Sen. Thad Cochran.




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Blast kills 23 outside China factory in Olympic city

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Blast kills 23 outside China factory in Olympic cityA truck carrying combustible chemicals exploded at the entrance of a chemical factory in a northern Chinese city that will host the 2022 Winter Olympics Wednesday, leaving 23 people dead and 22 others injured, state media and authorities said. The blast ignited other vehicles, leaving charred and smoking remains of trucks and cars scattered on a road as firefighters worked at the scene, according to images posted online by state media. A witness told AFP he heard a "very loud bang" after midnight and saw a field and trucks engulfed in flames outside the factory in Zhangjiakou, a city some 200 kilometres (124 miles) northwest of Beijing.




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Janhvi reveals Anshula got 'rape threats'

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After making her debut with ‘Dhadak’ star kid Janhvi Kapoor has been on a roll. In a recent interaction about social media trolls, the budding actress revealed that her sister Anshula Kapoor had received “rape threats” for something silly she did on Karan Johar’s chat show.

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PC-Nick's special gifts for their guests

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According to a report, Priyanka and Nick have decided to gift a silver coin with their names initials 'NP' engraved on it, and a carving of Lord Ganesha and Goddess Laxmi on the other side of the coin. The report also stated that the coin is specially handcrafted by a famous jeweller from Mumbai.

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PC-Nick's wedding venue closed for public!

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According to reports, a part of the palace is a hotel and now for Priyanka and Nick's wedding ceremonies, the whole palace will be shut for almost a week.

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PC to perform with mother on her sangeet

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Priyanka will be doing a Kathak performance on the sangeet ceremony. The actress will also be dancing on her popular number desi girl, practices for which are on in full swing

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Veteran singer Mohammed Aziz passes away

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In a shocking turn of events, ‘My Name is Lakhan’ singer Mohammed Aziz’ breathed his last at the age of 64 reportedly due to cardiac arrest.

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In China, your car could be talking to the government

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Automakers selling electric vehicles in China send information about the location of cars to the government _ potentially adding to the tools available to President Xi Jinping as he steps up the use of technology to track citizens

from ABC News: Technology https://ift.tt/2AyKfIL

In China, your car could be talking to the government

  November 29, 2018      No comments   Edit
Automakers selling electric vehicles in China send information about the location of cars to the government _ potentially adding to its rich kit of surveillance tools as President Xi Jinping steps up the use of technology to track Chinese citizens

from ABC News: Technology https://ift.tt/2AwKUKC

In China, your car could be talking to the government

  November 29, 2018      No comments   Edit
Automakers selling electric vehicles in China send information about the location of cars to the government _ potentially adding to the tools available to President Xi Jinping as he steps up the use of technology to track citizens

from ABC News: Technology https://ift.tt/2AyKfIL

Wednesday, November 28, 2018

PC-Nick's dinner sees Alia and Parineeti

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Bollywood sensation Priyanka Chopra and Nick Jonas are all set to tie the knot this year at Umaid Bhawan Palace in Jodhpur. The lovebirds were recently spotted at a 5-star hotel in Mumbai and now they hosted a dinner party at a restaurant in Juhu. They were accompanied by Joe Jonas with his fiance Sophie Turner, sister Parineeti Chopra, and Alia Bhatt.

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Aamir apologises for 'Thugs of Hindostan'

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Aamir Khan has come out and publicly accepted that the film's team went somewhere wrong

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Sridevi’s song to be a surprise in ‘Zero’?

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As ‘Zero’ marks late actress Sridevi’s last big-screen appearance rumours doing the rounds indicate that SRK is making this one count.

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Nick-PC wedding: Joe-Sophie en route India

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Joe Jonas and Sophie Turner were spotted with a fan on their way to Mumbai.

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Crashed Lion Air flight experienced 'flight control problem' a day before, but saved by pilots

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https://ift.tt/eA8V8J Pilots flying the same plane a day earlier had experienced a similar problem until they used switches to shut off the system and used manual controls to fly and stabilise the plane.

from Zee News :World https://ift.tt/2BCOeWk

Russia to deploy new S-400 missiles on Crimea: Report

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https://ift.tt/eA8V8J Russia will deploy new S-400 surface-to-air missile systems on the Crimean peninsula soon, the Interfax news agency cited the Russian defence ministry as saying on Wednesday. 

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Insanity is contagious: BJP slams Congress for Sidhu's Rafale remark in Pakistan

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https://ift.tt/eA8V8J The actor-turned-politician is on a second visit to the neighbouring country this year to attend the groundbreaking ceremony for the Kartarpur corridor.

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Airtel will soon have a Rs 15,000-cr war chest to fund its Jio fight

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Bharti Airtel plans to raise Rs 12,000-15,000 crore through issue of fresh shares in the current fiscal year as part of its strategy to create a war chest of about Rs 30,000 crore in three tranches to reduce debt and financing costs, bolster cash flows and meet capital expenditure to fight the price war unleashed by Reliance Jio Infocomm.The company is examining the option of either a rights issue to existing shareholders or private placement to institutional investors and promoters, two persons familiar with the development told ET.The bulk of the proceeds will be used to repay debt and bring down borrowing costs.Bharti Airtel has net consolidated debt of Rs 1,14,557 crore, of which the Indian operations’ borrowings amount to about Rs 80,000 crore. This amount includes outstanding spectrum payments of nearly Rs 46,000 crore.By financial year 2020, the group’s debt is expected to come down significantly, with the international business having residual debt of about $2.5 billion (approximately Rs 17,500 crore), said one of the persons. 66837472 Stake Sale in Tower BusinessBharti Airtel had announced that Airtel Africa Ltd, its UK-incorporated subsidiary, intends to launch an initial public offering in mid-2019 on an international stock exchange. The IPO aims to raise $1.25-1.5 billion and the funds would be used to reduce the debt of the African subsidiary, said the second person.The third round of fundraising will be done through equity dilution in Bharti Infratel, which is in the midst of a merger with Indus Towers.After the merger, Bharti Airtel will hold up to 37.2 per cent stake in Bharti Infratel, which will own more than 163,000 towers across India. Depending on market conditions, Bharti Airtel will dilute its stake in the tower business in the latter half of 2019, sources said.The Bharti Group declined to comment on the possibility of fresh equity infusion in the listed company. It said it had already made announcements regarding the proposed plan for an IPO of Airtel Africa sometime in June 2019, and that information regarding the merger of Bharti Infratel and Indus Towers was already in the public domain. “Beyond this, we have no comments to offer,” said the Bharti spokesperson.In October this year, Airtel Africa raised $1.25 billion from six leading global investors comprising Warburg Pincus, Temasek, Singtel, SoftBank Group and others through fresh issue of equity shares at an enterprise value of $9.4 billion. Airtel Africa, which has seen a turnaround in fortune in recent years, has announced it would use the proceeds to reduce existing debt of about $5 billion and for expanding operations. In 2010, Bharti Airtel had acquired the African business of Kuwait-based Zain Telecom for an enterprise valuation of $10.7 billion. Last year, Bharti raised $2 billion through the sale of its African tower assets and $1 billion from the sale of its businesses in Burkina Faso and Sierra Leone.

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Rising Adani power bills give Mumbai a jolt

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MUMBAI: Billionaire Gautam Adani’s foray into power distribution has begun with a social media offensive, with the Congress party and some consumers accusing his company of increasing the bill sharply in October. But the company said it’s facing “malicious” propaganda because the regulator had increased tariffs based on a petition filed before it took over the circle and that electricity consumption had risen 18% during the period.Several Mumbai residents under the Adani Electricity circle – which was earlier controlled by Anil Ambani-led Reliance Infrastructure — have said that there has been a spike in their bills in October. Mumbai’s Congress chief Sanjay Nirupam has accused the company of “looting” consumers, with banners and hoardings across the city alleging a 50% increase in power charges and faulty meter reading.“There has been an undue perception created around Adani Electricity’s power billing by a senior political party leader through various platforms using irresponsible words like ‘loot’, little realising that this implies to rates which are decided by an independent quasijudicial body MERC, after following the due process of public hearing. The statements that have been made are totally irresponsible, false, incorrect, distorted, carry innuendos and level false and malicious insinuations,” Adani said in a response to ET’s query.Adani Electricity started billing Mumbai consumers from September, after it completed the acquisition of the Mumbai power distribution business from Reliance Infrastructure and has faced hiccups in the first two billing cycles.Some Adani consumers witnessed an increase in their bills for September, which the company attributed to its inability to read meters in some areas due to “internal agitation on certain past issues”, with the assurance to pass on the credit after meter reading is done. Two consumers confirmed to ET that they received the credit in the subsequent bills.But some consumers complained on social media that bills were substantially higher in October. Some said it had doubled from the previous month, but Adani dismissed this as seasonal variations, as consumption traditionally rises in October, which is one of the hottest months of the city due to rising temperature after the monsoon withdraws.The company attributed the increase to revised regulator-approved tariff and an 18% average increase in consumption in October against September.ET has seen some consumer bills where the number of units used has doubled on a year-on-year basis in October. One consumer shared his bill where he was charged Rs 29,000 in October as against his usual bill of around Rs 3,500 and upon visiting Adani office he was told it was an “accounting mistake” and the amount was reduced to Rs 4,000.Electricity distribution is a regulated business in India with prices being determined by the regulator after taking all fixed and variable costs under considerations. In an order dated September 12, MERC approved a revision of tariff for the state’s power distribution companies, the state-run — Brihanmumbai Electric Supply and Transport Undertaking and Maharashtra State Electricity Distribution Co, and private distributors Tata Power Company and Reliance Infrastructure’s energy business, which is now known as Adani Electricity.Adani Electricity’s said the revised tariff applicable from September has been increased to Rs 4.78 a unit from Rs 4.42 a unit for the first 0-100 units consumed, and to Rs 8.58/ unit from Rs 8.04/unit for the next 101-300 units. The rates for the slabs 301-500 units were increased by 30 paise, while that for over 500 units were increased only marginally.“The tariff increase has no correlation with Adani taking over Mumbai distribution business. It is only a coincidence that the timing of tariff revision coincided with the takeover,” the company said. Reliance Infrastructure had filed for tariff petition to MERC in December 2017 and while the public hearing for this happened on August 2 this year, the actual order for revision came on September 12, after Adani took over RInfra's Mumbai electricity business on August 28.Last year in December, Reliance Infrastructure and Gautam Adaniled Adani Transmission had signed a definitive agreement for the former’s power generation and distribution business in Mumbai in a deal valued at Rs 13,251 crore. Reliance Infrastructure will also get regulatory assets under approval estimated at Rs 5,000 crore and net working capital on closing estimated at Rs 550 crore, making the total consideration around Rs 18,800 crore.

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Harried by GST tweak, exporters move court

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MUMBAI: Many exporters who had availed of certain duty-free benefits while importing raw material filed a writ petition in the Delhi High Court last week against the government, claiming that the tax department has now refused to adjust pending tax credits.In the past, under the Advance Authorisation Scheme, exporters would import duty-free goods and then re-export after value addition. The only condition for such exemption was that the raw material must be used for exports.Often, exporters would first import the raw material, pay the necessary tax on that and then export the final product. The exporters could pay IGST on the raw material they import and if they were unable to use all of it for exports, they could get back credit, industry trackers said.However, a recent amendment in the GST framework makes this practice untenable. Many exporters who could not meet their targets are not able to get the credit, thus impacting their cash flows.“For holders of advance authorisation licences issued in the pre-GST regime, it is a legitimate expectation of businesses to obtain the same treatment of availing credit upon non-fulfilment of export obligations,” said Abhishek A Rastogi, partner at Khaitan & Co, who is arguing this matter on behalf of the exporters before the Delhi High Court.Earlier too, the Directorate of Revenue Intelligence (DRI), the country’s primary anti-smuggling intelligence agency, had issued notices to exporters for wrongfully availing exemptions in cases where exports preceded imports. The notices asked exporters to pay IGST in cases where raw material is imported only after goods are partially or fully exported. 66834774 “The amendment to rule 96 (10) on claiming refund of IGST on exports is a big blow to the advance authorisation users.It gave relief to some exporters for making their trapped credits available, which is a cash flow issue for businesses, but the amendment in the law would impact credits and consequently the business economics,” said Suresh Nandlal Rohira, partner, Grant Thornton. “While this is the first writ, many such players are struggling throughout the country for this hardship which appears to be an unintended omission.”

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Ex Snapdeal product head Chandrasekaran quits FB

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Anand Chandrasekaran, who was until recently, a director of platforms and product partnerships at Facebook based in its Menlo Park headquarters, has left the company, sources close to the development told ET. His departure ends a two-year stint which began in September 2016, where he had joined to work on Facebook’s popular Messenger product.Chandrasekaran, who is also an active angel investor in the Indian startup ecosystem, is said to be exploring outside opportunities in the Bay Area, people close to the development told ET.Sources in the know told ET that while the 40-year-old had initially joined Facebook to work on the tech giant’s Messenger platform, “he began overseeing the company’s India business, acting as a bridge between the two markets.” Facebook considers India as its largest market, with over 250 million active users.Another person aware of the development, told ET, that in the last six months, Chandrasekaran was looking at WhatsApp, specifically for the India market. It is unclear if he was the point person for its in-limbo Unified Payment Interface (UPI) based payment product. WhatsApp, like its parent company Facebook, also considers India as its largest market.A former Yahoo executive, Chandrasekaran joined Snapdeal at the time e-commerce market in India was at its peak. Players like Flipkart and Snapdeal threw million dollar salaries to hire Silicon Valley executives, which is when Chandrasekaran joined the Indian e-tailer. Before that he was Bharti Airtel’s chief product officer.While it isn’t clear what Chandrasekaran would do next, there has been speculation about him starting his own venture.When contacted he did not comment on his departure from Facebook.Some of his larger angel investments in India include Rupee, co-working company Innov8, contactless payments venture Tonetag, fashion online to offline startup Fynd, Nobroker, among dozen others.

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2.0 days before release, Chitti fights telcos

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The country’s most expensive film at nearly Rs 540 crore, is receiving opposition from one of the most unexpected quarters — telecom tower companies and cellphone makers.The two have petitioned the censor board to revoke the certification of the Rajinikanth-Akshay Kumar mega starter, and suspend its exhibition as it spreads “misinformation” about radiation impact from mobile towers and smartphones.“We have requested the censor board to revoke the certification already granted, including for the teaser, trailer and other promotional video and Tamil language version of the film with immediate effect,” Rajan Mathews, Director-General of Cellular Operators Association of India (COAI), said. “We have requested that the exhibition of the movie be suspended in the meantime.”COAI has written to the Central Board of Film Certification that the film depicts mobiles and towers in a defamatory manner. “The movie including its teasers, trailers and other promotional videos depict mobile phones and mobile towers in a defamatory manner.”COAI alleged that the promotional videos are based on the theme that electromagnetic field (EMF) emissions — dubbed as harmful radiation by a section of activists — from mobile phones and towers are dangerous to living creatures and the environment, including birds and human beings. It said that such a depiction “will create unfounded fear and mass paranoia by spreading misinformation about the adverse impact of mobile towers and mobile phones.”It said the storyline is “defamatory to COAI and its members, endangers public order, presents anti-scientific attitudes, (and) constitutes offences, including under various sections of the IPC.”COAI further said that the disputed depiction is in violation of the provisions of the Cinematograph Act, 1952. “It is against the public interest as it constitutes offences under section 268 (public nuisance), section 505 (statements conducing to public mischief) and section 499 (defamation) of the IPC and stands to prejudice the ongoing proceedings before the Supreme Court over whether or not mobile towers have any harmful effects.”COAI requested the censor board to examine the film with due regard to its concerns and seeking a preview of the film to give it “a fair opportunity to raise our concerns fully and adequately.”2.0, directed by filmmaker S Shankar, is slated for a release later this week and is a sequel to the 2010 mega-hit Robot, which had starred Rajinikanth and Bollywood actor Aishwarya Rai.

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India is said to consider merging two state-owned power lenders

  November 28, 2018   ,   No comments   Edit
By: Rajesh Kumar Singh and Siddhartha SinghIndia is considering a proposal to combine two state-run lenders to utilities, REC Ltd. and Power Finance Corp., according to people familiar with the discussions, as it seeks to raise funds to bridge a budget gap.The first phase of the deal will see REC acquiring a majority stake in Power Finance valued at $2.5 billion possibly by the year ending March 2019, the people said, asking not to be named as the talks aren’t public. Subsequently, the plan is to merge the subsidiary with REC, a departure from the original plan to keep their operations separate. Power Finance had a market value of 268.8 billion rupees ($3.8 billion) on Tuesday.Prime Minister Narendra Modi’s government is seeking ways to narrow the country’s budget deficit to help finance public welfare projects ahead of elections. The sale of stake in Power Finance mirrors a similar deal earlier this year, when state explorer Oil & Natural Gas Corp. bought a controlling stake in refiner Hindustan Petroleum Corp.The merger plan is being considered after REC expressed concern that just acquiring a controlling stake in Power Finance would weaken its credit profile and wouldn’t yield any operational benefit. On the other hand, New Delhi-based REC has informed the power ministry that a combined entity will be complementary as it would eliminate competition among them in raising funds or finding customers, according to the people involved in the plan.The sale of stake in Power Finance, expected to fetch about $2.5 billion based on the lender’s last closing price, mirrors a similar deal last year, when state explorer Oil & Natural Gas Corp. bought a controlling stake in refiner Hindustan Petroleum Corp.Affordable PowerA combined power sector lender can leverage its size to borrow at lower rates and help fund the nation’s goal of ensuring round-the-clock supply of affordable electricity for all Indians and also help fund projects beyond the electricity sector. A bigger lender will also help instill better discipline among borrowers, especially distribution companies, the people said.Press offices at REC, Power Finance and the power ministry didn’t respond to emails seeking comment, while calls made to the finance ministry’s spokesman were not answered.The government has a 65.6 percent holding in Power Finance, which has gained 29 percent since Bloomberg first reported the government’s plan to sell its stake to REC on Sept. 24, while REC has advanced 24 percent.REC is keen on the merged entity to subsequently extend its lending book beyond the power sector and wants oversight of its operations shifted to the finance ministry, the people said. The company changed its name, discarding the earlier Rural Electrification Corp., last month as it limited the scope of doing business.

from Economic Times https://ift.tt/2FKOmY4

Be cautious in 2019 but don’t go fully into cash: Punita Kumar Sinha

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There is more risk to the US markets than to emerging markets right now, Punita Kumar Sinha, Founder, Managing Partner 66839440 66826409 66824625 & CIO, Pacific Paradigm Advisors, tells ET Now. Sinha, who has a doctorate from Wharton and is the wife of central minister Jayant Sinha, has had a three-decade long career as an investor, says the markets are discounting a tariff increase against China by US as of now. Edited excerpts: What is your current market view? We have seen a gut wrenching fall in crude, a good comeback in emerging market equities together with a lot of volatility in developed markets like US and Japan. How do you assess the risk versus reward ratio for investors? First of all, there is more risk to the US markets than to emerging markets at this point in time. Of course, there is an event risk with respect to China and what happens in the meetings between President Trump and Chinese Premier later this week. That is going to be an event risk that nobody can forecast. But barring that, there is more risk to the developed markets particularly the US than to emerging markets. And that is mainly because of the valuation disparity between the US market and the emerging market valuations. The US markets are trading at roughly 50% premium to the emerging market valuations, the highest ever in last two decades. We saw these kind of disparity levels in 2002-03. We are now closer to 2008-09 levels and we have noticed in the past that this gap always closes. Sometimes it may take longer, sometimes it may take shorter and over the last one month, we have started seeing emerging markets outperform the US. That trend is likely to continue. Given where the valuations are, there is much less risk barring the event risk I talked about to emerging markets than to the US markets. There is so much chatter around what is going to happen when Xi Jinping and Trump meet. Do you think there could be any headway and a truce can be called? There is a lot of nervousness and if the tariffs are raised to 25% as is currently the plan, it is going to be negative not just for China, but also for the US because it is going to be inflationary and that could have an adverse impact on inflation, interest rates and lead to some kind of slowdown. Morgan Stanley has already factored in the US slowing down. Their forecasts are showing that US is going to slow down quite dramatically over the next two years in terms of the economic growth and they are factoring in a higher tariff than where it is today. But frankly nobody can get into President Trump’s head and know what he is going to do. If the tariffs are not increased, that is obviously going to create some positive sentiment because right now, the markets are discounting a tariff increase. The consensus that is building indicates that one is approaching 2019 with a bit of caution. Yes, you have to approach 2019 with a bit of caution, especially in the US. Not only are we seeing valuations at elevated levels, but we are also seeing risk to growth. Right now, what is factored in is that the Fed will continue to raise rates. There is definitely cautiousness on the US side. On India, there is cautiousness more because of elections but in terms of valuations, some of the midcaps are now discounting a lot of the negatives. Right now, largecaps are a safe bet but the Indian markets are trading at a higher premium to other emerging markets than historical levels. Also, the largecaps in general have got pretty high valuations and India’s own historic valuations versus today were much lower. There are some risks building up in pockets in India but a lot of value is emerging at the same time. While you are sitting in India, it looks like India has done quite poorly as a market but on the basis of year-to-date performance, India after the rebound in the last few weeks, is not performing as badly as some of the other markets like Korea and China and some of the other emerging markets.Are you making a case that cash could be king in 2019? Should one sit on more cash than in last three years? Yes, I think you have to. I would not go fully into cash. SIPs are a good way to play the volatility in the markets and there is going to be some volatility. I would not go totally into cash because there are a lot of event risks including the elections in India. If the elections throw up a majority, then holding cash is not going to be a good thing. You have to be invested but at the same time maybe a bit more cautious in terms of increasing cash levels. But I would not recommend going fully into cash. Markets tend to price in a lot of scenarios in advance. The focus is not on where the buck has moved, but where the buck would move. The scenario which you have painted could be the perfect play out scenario for 2019. But is it already in the price? I do not think it is in the price. I believe it has started to play out over the last one month and is yet to fully play out. Also, there could be some more Fed rate hikes. Of course, President Trump is coming down hard on the Fed chairman. So, we do not know how that will play out. But if the economy slows down more sharply than anticipated, then the Fed will have to pause. But at the moment, the Fed is likely to keep raising rates because we are at full employment and there is a high risk of inflation rising in the US because of protectionism. In India, after the midcap selloff, the macros have come supportive again. Would that cushion sentiment and build a case for buying at these levels? Definitely, value is emerging in the midcap sector. We are also seeing a lot of distress sales by NBFCs and therefore there are a lot of assets for sale in India. There will be a lot of competition for capital because there is distress beyond the midcap space. Even in the unlisted space, we are seeing a lot of deals coming up that would need capital. We have to see how the competition for capital plays out. Wherever there is value, there is an opportunity to make money longer term.Is there a lot nervousness around the state elections because in some ways they are being looked at as the semi-finale to the 2019 general elections? While the state elections are definitely being watched, I am not sure they are going to necessarily be a precursor to what we see in the general election. In the general election, you are definitely voting for a prime minister whereas in the state elections you are voting for a chief minister and those candidates can have different pulls in their communities. While the state election outcome is important, it is necessarily going to be the same way in the general election.You are not sounding all that bullish but yet you are able to spot value in the midcap space. Have you added in this decline? If yes, what are the themes on your radar? The current correction has thrown up decent value in some high quality NBFCs. The capex cycle seems to be reasonably robust, particularly with government spending. There is some opportunity in the capital goods space but one has to be very selective. The large banks are fairly well positioned on valuations and are able to buy a lot of the NBFC portfolios at very high discounts. That is another place where the valuations, particularly of some of the large PSU banks, are very attractive. You have to be stock specific in most of the other sectors. In a defensive market, typically one tends to move to high dividend yield pharma and IT, etc, but some of these sectors have already played out and one has to be very company specific, particularly in pharma. Right now, the action seems to be more in financials and select midcap stocks. Coming to consumer space, there is talk about Nestle buying Horlicks at very steep valuations. Consumer is a an expensive story in India, but at any given point in time, they always have enough takers. In India, either you can make a lot of money trading or you can make a lot of money in buy and hold. You need to have a little of both. You also need high quality companies in your portfolio and consumer companies tend to have decent ROEs. But they are not the kind of companies where you can expect to make a lot of money over the next six months to a year. But these are steady growth companies and valuations are always high. You always need to have some of those in your portfolio but you have to hold them for long term. You also have to be very patient because there can be periods of cyclical recoveries when these will underperform. But if you keep holding them over a long period of time, you will probably do okay.Indian markets have managed to outperform this fall, I mean China has just gone through a downward spiral. There are issues with other emerging markets as well. Could attractiveness compulsion be at play here and is India in that bracket right now? I would not say it is compulsion. HSBC just came out with a report on the world in 2030 and this is what global investors are seeing. China is going to be the number one economy at $25 trillion, US a close second and India a far third at about $5- 6 trillion. So the gap between the Indian economy and the Chinese and the US economy is going to remain very high but India is going to overtake a lot of other developed markets. India has a lot of potential to be one of the top economies in the world and it is also less affected by all the protectionism risk that we are seeing. That itself is going to be a driving force for investors to continue to be investing in India. There are smaller markets that also need to be looked at in the south-east Asia region because the Chinese risk can be hedged to some extent and the Chinese themselves are hedging by moving a lot of facilities and the companies in the US are also beginning to have a lot of facilities in Vietnam and in other south-east Asian countries to offset the tariff protectionism that is coming towards China. There are actually reasons. It is not just that it is going to be because there is nothing else to invest in but there are legitimate reasons why people will gravitate to these markets.

from Economic Times https://ift.tt/2zvRGAR

3 midcap bets from Angel Broking’s Mayuresh Joshi

  November 28, 2018   ,   No comments   Edit
Selectively, midcap cement, a little bit of midcap infrastructure and selective consumption stocks look very attractive, 66826409 66824625 66822916 Mayuresh Joshi, Fund Manager, Angel Broking, tells ET Now. Edited excerpts: Yes Bank must be a complete ignore especially after the Moody’s downgrade yesterday. Absolutely. The raising of corporate governance issues point to the volatility one can expect in the stock price. Add to that, what probably comes out in terms of the RBI divergence report are the hierarchical changes, the leadership issue and the capital raising plans. Capital needs to be raised as soon as the new CEO comes on board, if Yes Bank has to sustain the advances growth in excess of 25-30% that they have been doing so far. All these factors will act as headwinds for the stock. The settlement talks, the kind of repayment from Rana Kapoor’s holding companies that we have heard about are sentimental boosters but it is mostly the headwinds that will play impact the stock price in short to medium term. From an investment standpoint, in 3-6-18-months, where do you see a 15-20% upside? Our thesis is that with the front loading that the government is doing, which is very evident in terms of the order flow, specifically towards the capital sector, infrastructure/cement should start reviving going forward. A few of the companies within the infrastructure pack did report a decent set of numbers, like what you saw in terms of the front-loading of the order book for L&T. A lot of the capital goods companies came out with a very decent set of numbers in terms of execution. That leg of the market probably will see significant improvement as we had in Q3 because in Q4 the orders will start getting postponed. In the midcap universe, we continue to like midcap cement stocks. Input cost pressures have dented EBITDA per tonne but as the monsoon season is over, volume offtake will improve and offset the cost pressures. Having said that, we continue to like Heidelberg Cement. Heidelberg Cement is specifically in the central part of the country which hasn’t seen any new capacity additions. It has put out a 12-MW captive power plant. When you are talking about recovery, reducing power costs and transit periods will help bring freight costs down as crude has corrected significantly. The utilisation levels are quite optimal at 85 odd per cent and expectation of EBITDA per tonne is improving from $720 reported by FY18 as a whole over the next couple of years should hold the stock in good stead. Stocks like Bata also are good because of the earnings growth from expanding into tier II, tier III towns and foray into ladies footwear with a higher margin growth (from 30% to 40 odd per cent) largely in terms of sustained capex aiding volume and earnings growth. So, selectively, midcap cement, a little bit of midcap infrastructure and selective consumption stocks like Bata look very attractive. Times of India reports that Nestle is winning the race to pick up Horlicks. But it is really about the valuations. What does Nestle see in Horlicks that they are willing to pay top dollar for it? You are absolutely right and it will all boil down to what valuations the contender is expecting to pay for Horlicks. Now the kind of market share that Horlicks has at this point of time it is quite substantial but what kind of an earning compounder can this be in terms of an acquisition and how accretive does it become to the earnings profile of the company has to be seen. Nestle is expected to add on a whole host of value-added products. They have already started that spree in terms of adding products across ranges and categories but what kind of ramp up does this have in terms of volume growth and specifically realisation growth is something to be seen. So, let us see the developments in this case and what kind of deal accretive valuations Horlicks actually goes out for. How are you looking at the IT basket in the wake of rupee appreciation? Are you taking some profits off the table or you are bullish for long term on the largecap names? The rupee depreciation against the dollar does act as a tailwind for the IT stocks but only to a certain extent because a lot of these companies do have their hedging policies in place. The rupee equation probably works out only to a certain bit and again the tailwind has got reflected in prices of all these stocks. Talking about core fundamentals, the top IT companies did report a solid set of numbers with stellar dollar revenue growth and constant currency growth. The deal wins that came through from the digital arena were quite significant and the investments that were earmarked a few quarters back, are clearly reaping fruits. Digital orders both in terms of execution as well as margins are very accretive. All developments in terms of visa costs, wage hike is largely behind. Q3-Q4 is probably full of furloughs and working holidays. Clients’ budgets are being decided in Q4. So, the second half typically is a little bit soft for IT companies but the management commentaries have remained very solid. Our own sense is that these companies are probably embarking on niche opportunities specifically within the digital space segments like retail. Manufacturing green shoots in BFSI are holding up for these companies as well. Tech Mahindra is something that I have liked in the past. HCL Tech’s organic growth is expected to improve. These can be potential outperformers. Within the midcap names, I will be a little bit more specific but within largecaps, these two names can do well over a long period of time.

from Economic Times https://ift.tt/2KD9LRB

Former Snapdeal product head Anand Chandrasekaran quits Facebook

  November 28, 2018   ,   No comments   Edit
Anand Chandrasekaran, who was until recently, a director of platforms and product partnerships at Facebook based in its Menlo Park headquarters, has left the company, sources close to the development told ET. His departure ends a two-year stint which began in September 2016, where he had joined to work on Facebook’s popular Messenger product.Chandrasekaran, who is also an active angel investor in the Indian startup ecosystem, is said to be exploring outside opportunities in the Bay Area, people close to the development told ET.Sources in the know told ET that while the 40-year-old had initially joined Facebook to work on the tech giant’s Messenger platform, “he began overseeing the company’s India business, acting as a bridge between the two markets.” Facebook considers India as its largest market, with over 250 million active users.Another person aware of the development, told ET, that in the last six months, Chandrasekaran was looking at WhatsApp, specifically for the India market. It is unclear if he was the point person for its in-limbo Unified Payment Interface (UPI) based payment product. WhatsApp, like its parent company Facebook, also considers India as its largest market.A former Yahoo executive, Chandrasekaran joined Snapdeal at the time e-commerce market in India was at its peak. Players like Flipkart and Snapdeal threw million dollar salaries to hire Silicon Valley executives, which is when Chandrasekaran joined the Indian e-tailer. Before that he was Bharti Airtel’s chief product officer.While it isn’t clear what Chandrasekaran would do next, there has been speculation about him starting his own venture.When contacted he did not comment on his departure from Facebook.Some of his larger angel investments in India include Rupee, co-working company Innov8, contactless payments venture Tonetag, fashion online to offline startup Fynd, Nobroker, among dozen others.

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SSC declares Stenographer Grade 'C' & 'D' Skill Test 2017 results @ ssc.nic.in; check here

  November 28, 2018   , , , ,   No comments   Edit
The Staff Selection Commission declared the Skill Test results for Stenographer Grade 'C' and 'D' posts today on its official website - ssc.nic.in.

from Education News: Latest Job Notifications, Admit Cards, Exam Paper Analysis,Results - Times of India https://ift.tt/2DOeU7Z

RBI declares Specialist Officer (Grade B) 2018 results @ rbi.org.in

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The Reserve Bank of India has announced the Specialist Officer (Grade B) Result 2018 today on the official website of the Board - rbi.org.in.

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BSE extends OTET 2018-19 last date of applications to December 10

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Odisha government on Wednesday extended the last date of submission of applications for the Odisha Teachers' Eligibility Test (OTET) from Novermber 27 to December 10.

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Should parents be banned from visiting school lunchrooms?

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One mother shed tears when she read the superintendent's announcement. Another said it felt like a body blow.

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Bihar PHED Recruitment 2018: Apply online for 70 Asst Engineer posts @phed.bih.nic.in

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The Public Health Engineering Department, Govt of Bihar, has invited applications through valid Gate scored for contractual recruitment of Assistant Engineer (Civil/Mechanical) posts.

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UP Police Constable 2018 results likely to be announced in December first week, check details here

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The Uttar Pradesh Police Recruitment and Promotion Board (UPPRPB) is likely to announce the Police Constable recruitment written test results in the first week of December 2018.

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UoH files complaint against Himagiri hospital over medical negligence

  November 28, 2018   , , , ,   No comments   Edit
The University of Hyderabad and members of the Akhil Bharatiya Vidyarthi Parishad (ABVP) filed two separate complaints with the Gachibowli police station on Tuesday alleging the Himagiri Hospital of medical negligence in death of Rashmi Ranjan Suna on November 25.

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Nursery admission process in Delhi schools from December 15

  November 28, 2018   , , , ,   No comments   Edit
The nursery admission in private schools of Delhi for the academic session 2019-20 will begin from December 15. The last date for the submission of application forms in schools is January 7.

from Education News: Latest Job Notifications, Admit Cards, Exam Paper Analysis,Results - Times of India https://ift.tt/2Rk4X6a

Samsung to hire over 1,000 grads from top engineering colleges in India

  November 28, 2018   , , , ,   No comments   Edit
Samsung India plans to hire over 1,000 graduates from top engineering colleges across the country with over 300 of them coming in from various IITs, a top company official Tuesday said.

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NEET 2019 application process closes on November 30; check important links

  November 28, 2018   , , , ,   No comments   Edit
The National Testing Agency (NTA) had released the NEET 2019 application form on November 1, 2018 for various undergraduate courses in medicines.

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BPSC Admit Card for Civil Services Prelim 2018 released @ bpsc.bih.nic.in

  November 28, 2018   , , , ,   No comments   Edit
Bihar Public Service Commission (BPSC) 64th Civil Services Prelim Exam Admit Card is going to be released today, November 28, 2018.

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NEET 2019: Many aspirants still in dark over disability quota

  November 28, 2018   , , , ,   No comments   Edit
Candidates with disabilities seeking to appear in the National Eligibility cum Entrance Test (NEET) 2019 for admission to medical courses are at cross roads with the Medical Council of India (MCI) yet to notify guidelines for them while just three days remaining for submission of application forms.

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Telangana Intermediate time table 2019 released; exam begins from february 27

  November 28, 2018   , , , ,   No comments   Edit
The Intermediate Public Examination (IPE) 2019 for the first and second year inter students will be held from February 27, 2019.

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Mizoram TET 2019 notification released @ mbse.edu.in; check exam date here

  November 28, 2018   , , , ,   No comments   Edit
The Mizoram Board of School Education (MBSE) has released the State Teacher Eligibility Test schedule on its official website.

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CMAT 2019 last date extended to December 7; apply @ ntacmat.nic.in

  November 28, 2018   , , , ,   No comments   Edit
The last date of registration for Common Management Admission Test (CMAT) 2019 has been extended up to December 07, 2018.

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Samsung to conduct research to help reduce stress in school kids

  November 28, 2018   , , , ,   No comments   Edit
Samsung India is set to undertake a two-year research to find out how to enhance learning outcomes for middle school students in India and how their stress levels can be reduced, the company said on Monday.

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JNU teachers observe hunger strike against compulsory attendance

  November 28, 2018   , , , ,   No comments   Edit
The Jawaharlal Nehru University Teachers Association (JNUTA) on Monday observed a day-long hunger strike against the university administration's decision making it mandatory for them to mark their attendance every day.

from Education News: Latest Job Notifications, Admit Cards, Exam Paper Analysis,Results - Times of India https://ift.tt/2E18ovL
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